Title
a. Consent and Agree to an Amended and Restated First Implementation Agreement with UCP East Garrison, LLC; and
b. Authorize the Director of the Resource Management Agency to sign the agreement.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
a. Consent and Agree to an Amended and Restated First Implementation Agreement with UCP East Garrison, LLC; and
b. Authorize the Director of the Resource Management Agency to sign the agreement.
DISCUSSION:
The East Garrison Project is a mixed use residential development project that is the subject of a Disposition and Development Agreement (DDA) approved by the former Redevelopment Agency in 2005. The Project consists of a mixed use development of up to 1,470 dwelling units (including low- and moderate-income housing); approximately 34,000 square feet of commercial, retail and community uses; the rehabilitation of historic structures; and the development of certain public facilities, including a fire station, library and Sheriff sub-station, and requires Agency financial assistance to pay for a portion of certain aspects of the Project, including public facilities, affordable housing and historic preservation and renovation. The Project also contemplates that the Agency shares in any profits achieved by the developer above Project Costs.
On June 28, 2011, as part of the budget process and without any substantive hearings, the State Legislature adopted the Dissolution Act, which restricted the powers of, and eventually dissolved, redevelopment agencies. Successor agencies were created as part of the Dissolution Act, and tasked with completing and winding down previously approved redevelopment activities and agreements. Although the former Redevelopment Agency took all necessary actions to continue to operate, the California Supreme Court struck down that part of the law as unconstitutional.
Coincidentally, also on June 28, 2011, but prior to the adoption of the Dissolution Act, the ...
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