Title
Approve and authorize the Chair to sign an Advanced Funding Agreement with BMC EG Courtyard, LLC funding County costs for monitoring and reporting on compliance with prevailing wage obligations in construction of the East Garrison project in the former Fort Ord area of the County.
(ADDED VIA ADDENDUM)
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
Approve and authorize the Chair to sign an Advanced Funding Agreement with BMC EG Courtyard, LLC relating to the provision of funds to cover County costs for monitoring and reporting on prevailing wage obligations in construction of the East Garrison project in the former Fort Ord area of the County.
SUMMARY:
The recommended action will provide for the vertical developer of the Courtyard product type in the East Garrison Project to provide funding to cover the County's costs of monitoring and reporting on the developer's responsibilities to pay prevailing wages for construction, consistent with the terms of the East Garrison Disposition and Development Agreement.
DISCUSSION:
In 2006, the County's Redevelopment Agency entered into a Disposition and Development Agreement ("DDA") and the County entered into a Development Agreement ("DA") with East Garrison Partners I, LLC ("EGP") for a development (the "East Garrison Project") of up to 1470 dwelling units, some 34,000 square feet of commercial, retail and community uses, and the rehabilitation of the Historic District. The entire area has been graded, a final subdivision map for Phase I was recorded, and Phase I infrastructure for "wet" utilities (e.g., water, sewer and storm drain) has been installed.
During the "Great Recession", the East Garrison Project was acquired by Union Community Partners ("UCP"), which became the new Master Developer pursuant to a First Implementation Agreement approved in June, 2011. UCP has been working to fulfill the terms of the DDA and DA since that time and has reached a point where it is...
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