HomeMy WebLinkAboutMINUTES - 04052011 - C.91RECOMMENDATION(S):
APPROVE and AUTHORIZE the Redevelopment Director, or his designee, to execute a Predevelopment Loan
Agreement and Ancillary Documents in the amount of One Hundred Thirty-One Thousand Seven Hundred Dollars
($131,700) with Community Housing Development Corporation of North Richmond for Predevelopment Activities
for the Heritage Point: Mixed-Use Retail/Residential Development, North Richmond.
FISCAL IMPACT:
No General Fund money will be used for this loan. The total loan amount is $131,700. The Agency predevelopment
loan is from budgeted funds under the North Richmond Redevelopment Project Area for fiscal year 2010-11. The
Predevelopment Loan is expected to be rolled over into the permanent financial assistance that the Agency may
provide in the future to implement the ultimate project concept.
BACKGROUND:
A primary goal of the North Richmond community and the North Richmond Redevelopment Implementation Plan is
the creation of a commercial district or Town Center. This effort resulted
APPROVE OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR RECOMMENDATION OF BOARD
COMMITTEE
Action of Board On: 04/05/2011 APPROVED AS RECOMMENDED OTHER
Clerks Notes:
VOTE OF SUPERVISORS
AYES 5 NOES ____
ABSENT ____ ABSTAIN ____
RECUSE ____
Contact: D'Andre Wells, 335-7236
I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of
the Board of Supervisors on the date shown.
ATTESTED: April 5, 2011
David J. Twa, County Administrator and Clerk of the Board of Supervisors
By: June McHuen, Deputy
cc:
C.91
To:
From:David Twa, Redevelopment Agency Executive Director
Date:April 5, 2011
Contra
Costa
County
Subject:Predevelopment Loan Agreement, North Richmond
BACKGROUND: (CONT'D)
in the creation of the award winning Senior Heritage Apartments, North Richmond Health Center, Service Integration
Team and recently installed Streetscape Improvements along Third Street between Chesley Avenue and Grove Street.
This first phase of the North Richmond Town Center has had a positive impact on the community and created a sense
of place that was previously nonexistent. However, it remains incomplete.
Phase II, which is directly across the street on the eastern side of Third Street, encompasses six parcels assembled
under the Unified Development Program which was approved by the Agency Governing Board in March 2009.
These six parcels are referred to as Heritage Point, or Phase II of the North Richmond Town Center. The site is flat
and, in March 2009, occupied by a mix of residential single & multi-family housing, blighted underperforming
commercial outlets, a vacant office/community building, and a vacant lot previously occupied by an auto body repair
shop.
Under the guidelines of the Unified Development Program, the Agency has completed the acquisition of 4 of the 6
parcels, demolished 2 structures, relocated 3 of 5 families, and rented a vacant community building to 3 local
non-profits on an interim basis. The remaining two properties are expected to be acquired by mid-summer 2011.
The Agency seeks to enter into a Predevelopment Loan Agreement with Community Housing Development
Corporation of North Richmond at this time to initiate Phase II. The purpose of the Heritage Point Predevelopment
Loan Agreement is to: 1) fully define the project; 2) determine project feasibility; 3) identify infrastructure needs; 4)
perform studies to inform a project level CEQA process; 5) initiate land use entitlement proceedings; and 6) designate
Community Housing Development Corporation of North Richmond (CHDC-NR) as Master Developer. In addition,
this Agreement will provide market studies, project administration, conceptual site documents, design concepts, land
use applications, a financing plan, and input from the North Richmond community on what residents would like to
see incorporated into Heritage Point.
The term of this Predevelopment Agreement is approximately 20 months, commencing on the effective date and
terminating on December 31, 2012. The total loan amount is $131,700. The Heritage Point Predevelopment Loan
Agreement provides the Agency, and the North Richmond community, with a pathway to construct a new
complimentary residential mixed-use project to complete the North Richmond Town Center.
CONSEQUENCE OF NEGATIVE ACTION:
Failure to approve the Predevelopment Agreement would cause the Redevelopment Agency to be unable to proceed
with the development of Heritage Point. A negative action would also cause the Agency to suffer a significant
financial loss because the investment already expended for the project through previous acquisitions would be
compromised.
CHILDREN'S IMPACT STATEMENT:
None