pages: CityCouncil/2017-07-05.pdf, 16
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CityCouncil | 2017-07-05 | 16 | The Base Reuse Director responded 800 homes. Mayor Spencer inquired whether all the profit for Phase 1 and Phase 2 could go to the developer and the City could be left without Phase 3 being built. The Base Reuse Director responded under the current DDA, Phase 3 does not include housing. Mayor Spencer inquired whether Phase 3 is only commercial and no housing. The Base Reuse Director responded in the affirmative; stated there is no housing in Phase 3. Vice Mayor Vella inquired what is the risk to the housing plan in the event the housing does not get built. The Base Reuse Director responded there will be less housing supply and affordable housing; stated the changes are necessary to move the project forward. Vice Mayor Vella inquired what would happen if the housing requirement is split between Phase 1 and 2. The Base Reuse Director responded Alameda Point units are not currently in the housing plan. Councilmember Ezzy Ashcraft inquired whether not going forward with the proposed Phase means Alameda will not receive affordable housing units. The Base Reuse Director responded in the affirmative; continued the presentation. Mayor Spencer inquired whether having the developer pay $50,000 per acre to have an extension includes $10 million for the ferry or is in addition to the $10 million. The Base Reuse Director responded the $10 million is in addition only if the developer does not complete 50% of the infrastructure; stated the amount is credited once the developer completes 50% of infrastructure. Mayor Spencer inquired whether there is no penalty as long as the developer satisfies the infrastructure requirement. The Base Reuse Director responded in the affirmative; stated there are two ways to cure the developers default; the developer is paying for their cure period. Mayor Spencer requested clarification; inquired whether the developer is not paying additional money to extend, but would the money paid in advance would be credited Regular Meeting Alameda City Council 15 July 5, 2017 | CityCouncil/2017-07-05.pdf |