pages: AlamedaReuseandRedevelopmentAuthority/2011-12-07.pdf, 2
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AlamedaReuseandRedevelopmentAuthority | 2011-12-07 | 2 | With reasonable costs, a developer can provide ideas to test assumptions. ARRA has a fund balance, with a certain amount spent on planning. Options will be explored to find ways to leverage for upfront costs. Staff is exploring other sources of low cost capital with contingencies built into the costs, with the same analysis used for other options. Vice Chair Bonta inquired about the developer role as an advisor to ARRA. The Chief Operating Officer - Alameda Point explained that ARRA would be the property owner and maintain control over entitlement process. With the understanding that ARRA is not a developer, put out an RFQ for a development advisor, with a recommendation that the advisor actually be a developer with experience working on large-scale projects, not just a consultant. In this advisor role, the developer would actually work for the ARRA, are paid a monthly fee, but their contract can be terminated by the ARRA. The advantage from a transaction standpoint is that it would be a simple contract; the advisor has no actual rights to development or land. The concept is that the ARRA maintain control, work in a partnership, but ARRA would be the leader. Vice Chair Bonta inquired if there are any examples of that type of partnership. The Chief Operating Officer - Alameda Point stated that Hamilton AFB is a similar example. Hamilton hired a team of advisors, which included attorneys and economic consultants who planned and entitled all of Hamilton. They did an RFQ with developers and negotiated purchase and sale, but had entitlements all upfront. Member Johnson expressed concern about handling the most difficult parcels or areas that will take longer to clean up. The Chief Operating Officer - Alameda Point discussed starting up efforts and creating value will make the property more valuable. Less money is taken out of the project by a master developer, which leaves more money in the project for development itself. The Chief Operating Officer - Alameda Point informed the Board that staff would be coming back to the ARRA with an update in February. (11-083) Presentation on the Status of the Lawrence Berkeley National Lab Second Campus Process. The Chief Operating Officer - Alameda Point provided an oral update on the LBNL Second Campus process. LBNL announced that they postponed their selection decision to early 2012. The Chief Operating Officer - Alameda Point stated that it is staff's supposition that LBNL has made a selection, but they are making sure the DOE and UC Regents are on the same page and policy makers are on board. 5. ORAL REPORTS None. 6. ORAL COMMUNICATIONS, NON-AGENDA (PUBLIC COMMENT) None. 7. EXECUTIVE DIRECTOR COMMUNICATIONS None. 8. REFERRALS FROM THE GOVERNING BODY None. Regular Meeting ARRA November 2, 2011 | AlamedaReuseandRedevelopmentAuthority/2011-12-07.pdf |