pages: CityCouncil/2022-05-17.pdf, 11
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CityCouncil | 2022-05-17 | 11 | Mr. Doezema responded staff pursued the concept with the developer and was met with strong concerns; stated tethering the units would result in the inability to finance the project; the developer is investing millions into infrastructure; tethering the affordable housing to an uncontrollable aspect would prevent financing of the larger project due to unpredictability. The Interim City Manager requested staff to expand on the complications associated with financing affordable housing projects and tethering concepts. Mr. Doezema stated getting funding for affordable housing projects is a process; tax credits must be obtained; there are different layers of funding from the County, State or other opportunities; time is needed to make the project work. The Interim City Manager stated the market is competitive; many projects in different jurisdictions are competing for the same affordable housing funding; the competitiveness adds to the uncertainty; projects must be competitive; affordable housing is tricky; tethering in the current environment becomes challenging; staff is recommending the amendment since seeding the project with $50,000 will allow the affordable housing developer to move forward. The Project Manager stated the goal is to have the developer identify a potential affordable housing developer to work with and begin the process of finding affordable housing project funding. Councilmember Herrera Spencer stated the current market rate housing units for purchase are up to 3,300 square feet; expensive monthly rentals exist; inquired whether market rate prices are similar and the proposed square footage. The Community Development responded APP indicated the current proposal is in the 1,900 to 2,200 square foot range; 2,200 square foot units would be the universal design townhomes. Councilmember Herrera Spencer inquired if staff has an idea of the purchase price. The Community Development Director responded in the negative; stated the price will vary based on the unit's finishes and details; the price will be available later in the planning. Mr. Doezema stated although it is not a figure from the developer, the average cost of townhomes in the area is $1 to $1.4 million. Councilmember Daysog requested clarification of Phase 1B; stated the City is planning to build an additional 199 housing units; inquired the original land use that is being replaced with housing and the community facility; noted the community facility sounds exciting. The Community Development Director responded APP will complete the infrastructure and development pad for the community facility; stated staff will put out a request for proposals (RFP) to make a determination of what will be placed on the pad. The Planning, Building and Transportation Director stated that he does not have the exact numbers; Block 10 is being proposed for residential and is currently planned for three existing, small, Navy buildings to be adaptively reused for commercial space with the construction of a fourth building to be used for commercial; the four buildings add up to less than 100,000 square feet; the plan has become a non-viable option; Phase 2 has approximately 400,000 square feet Regular Meeting Alameda City Council May 17, 2022 11 | CityCouncil/2022-05-17.pdf |