pages: CityCouncil/2010-07-06.pdf, 5
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CityCouncil | 2010-07-06 | 5 | Vice Mayor deHaan stated that Councilmember Tam has a valid concern; Council has not given direction to initiate an ENA. The Interim City Manager stated that Council has not approved an ENA, but has discussed the terms of an ENA. Councilmember Tam inquired whether procedurally; a closed session announcement would have reflected whether Council gave direction to enter into negotiations toward an ENA with Warmington Homes to sell the Corporate Yard and Animal Shelter property. The City Attorney responded an appropriate reading out of a closed session item would have happened and did happen; stated any action would have been reflected; the announcement could have been that Council or CIC provided negotiating direction to the Interim City Manager; specific negotiating direction is not spelled out. Councilmember Tam requested that the City Clerk read the reporting out announcement. Councilmember Gilmore stated the staff report states that a reduction in affordable units is critical and is a major financial consideration for Warmington Homes; Warmington Homes may enter into negotiations with the City through another deal in the near future; that she has trouble understanding how Warmington Homes would be financially strapped on the Grand Marina project, yet thinks another project could be done. Mr. McClellan stated Warmington Homes is doing deals; economic times are still bad; Warmington Homes believes that the right marketing level has been found; houses can be produced if the market remains the same; a legitimate land value could be paid based on the values. The Interim City Manager stated information in the report regarding a potential second phase or another project is not dependent upon tonight's decision; inquired whether Warmington Homes could get financing today with ten affordable units, to which Mr. McClellan responded in the negative. Councilmember Tam stated the staff report states that a future deal would be an opportunity for the City to promote inclusionary housing in accordance with policy, although the reduction would be made at this time; that she does not believe that the deals are completely separate; Warmington Homes does not have out of pocket cash to build the four units, yet there is some expectation that out of pocket cash would be available to purchase land and affordable housing at the potential new site. Mr. McClellan stated Warmington Home projects are financed on a project-by-project basis; Warmington Homes is prepared to go forward with the next phase and build out the project; Warmington Homes is looking for other projects that would be successful for Regular Meeting Alameda City Council 5 July 6, 2010 | CityCouncil/2010-07-06.pdf |