pages: CityCouncil/2015-06-16.pdf, 3
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CityCouncil | 2015-06-16 | 3 | 316 at Alameda Point and Approving a Density Bonus Waiver." Adopted; (15-409A) Introduction of Ordinance Approving a Disposition and Development Agreement (and Related Documents) between the City of Alameda and Alameda Point Partners, LLC (APP) for the Site A Development at Alameda Point. Introduced; and (15-409B) Introduction of Ordinance Approving a Development Agreement between the City of Alameda and Alameda Point Partners, LLC for the Site A Development at Alameda Point. Introduced. The Chief Operating Officer - Alameda Point gave a Power Point presentation and submitted information. In response to Mayor Spencer's inquiry, the Chief Operating Officer - Alameda Point - stated the developer revised the housing chart to show a larger range of units from 500 square feet to 1100 square feet. Mayor Spencer inquired how many more units would be added on the lower end, to which the Chief Operating Officer - Alameda Point stated the developer has not committed to a certain number of units and sizes, which is determined in the design review process. Mayor Spencer inquired whether the shift to offer units for those who qualify with an income of $65,000 as opposed to $90,000 is reliable on the chart, to which the Chief Operating Officer - Alameda Point responded in the affirmative; stated the developer has confirmed the shift. The Chief Operating Officer - Alameda Point continued presentation. In response to Councilmember Ezzy Ashcraft's inquiry, the Chief Operating Officer - Alameda Point stated the developer agreed to create more moderate income units if there is profit participation and the project is successful. Joe Ernst, APP, gave a brief presentation. Councilmember Oddie inquired what the impacts are to the tenant base and City finances if the project fails. The Chief Operating Officer - Alameda Point responded Alameda Point has failing infrastructure and it would be difficult to attract private investment, jobs, and potential new leases without the prospect of amenities the development would provide; stated the City has to rely on the private sector to fund development without redevelopment public financing sources; increased liabilities to the City and potential issues for the General Fund could be created if a project is not moved forward. Regular Meeting Alameda City Council June 16, 2015 | CityCouncil/2015-06-16.pdf |