pages: CityCouncil/2019-02-05.pdf, 4
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CityCouncil | 2019-02-05 | 4 | return on the investment quicker; neither model is superior, but there are different psychologies of how business is performed. Councilmember Oddie inquired whether each development firm stipulated splitting the net cash flow between the developer and the City after payment of the fixed return. Mr. Edison responded that he does not recall. Councilmember Oddie inquired what the rate of return would be in that instance, to which Mr. Edison responded that detail is worth knowing. Councilmember Oddie stated while negotiating, and during the DDA process, the details are unknown. Vice Mayor Knox White inquired whether staff can provide a recommendation of a firm that meets the needs of the community. The Base Reuse and Community Development Director responded that a process had been defined around staff's evaluation of submitted proposals, including panel ranking criteria and an evaluation matrix included in the staff report for both Council and public review; staff is prepared to make a recommendation to Council and is able to provide information if requested; stated if Council determines that more information is needed from development firms, it is recommended that happen first before staff provides a firm. Councilmember Daysog inquired the recommendation on how to proceed. The Base Reuse and Community Development Director responded there is a desire for more information and that Mayor Ezzy Ashcraft has not yet provided her comments; stated a balance should be struck between the desire for more information and the desire to move forward quickly. Mayor Ezzy Ashcraft stated the decision is difficult; outlined the initial process to have staff come forth with a recommendation for Council to approve an Exclusive Negotiating Agreement (ENA) with one development team; stated the process is best provided with Council's input, able to be heard by the public; all four development teams are well qualified; it is time to diversify at Alameda Point; an economic downturn is coming; expects any development firm to be a good community partner, but it should not be a criteria; Jamestown's emphasis on job creation and job training center is very important for all community members; outlined Brookfield's vision, starting with the Alameda Point - Rebuilding the Existing Supportive Housing (RESHAP) project ; stated both developers spoke about a diversity of housing to create for families and for people to age in-place with assisted living facilities; staff purposely sent out an RFQ not an RFP, and at this point a selection is being made to negotiate a one-year process of working out an ENA; proposed asking staff to work with two development teams. Special Meeting Alameda City Council February 5, 2019 4 | CityCouncil/2019-02-05.pdf |