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March 9, 2010

A regular meeting of the City of San Ramon Redevelopment Agency was held on March 9, 2010 at 7:20 p.m. in the Council Chamber at City Hall, 2222 Camino Ramon, Chair Rowley presiding.
PRESENT:  Agency Members Hudson and Wilson, Vice Chair Perkins and Chair Rowley.
ABSENT:  Agency Member Livingstone
STAFF PRESENT:  Executive Director Herb Moniz, Interim Agency Counsel Roger Peters, Deputy Executive Director Marc Fontes, and City Clerk Patricia Edwards.

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The Agency Secretary reported there were no requests for public comment.

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Mbr. Hudson’s motion to approve the minutes of the February 9, 2010 meeting was seconded by Mbr. Wilson and passed 4-0.  Mbr. Livingstone was absent.

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(#6.1) Minute Order RDA 2010-01 – Authorizing Redevelopment Agency Funding in the Amount of $20,000 for a Portion of a Comprehensive Building Assessment for the Redevelopment of the Ace Auto Building at 2560 San Ramon Valley Boulevard (APN 213 030 021).

Vice Chair Perkins’ motion to approve consent calendar item 6.1 was seconded by Mbr. Hudson and passed 4-0.  Mbr. Livingstone was absent.

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The Agency Secretary reported that the Agency has not received any written communications.

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The Agency Secretary stated that there were no items of unfinished business.

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(#9.1) Discussion of Proposal to Purchase the Property Located at 9000 Alcosta Boulevard (APN 210-520-031) and Enter into an Exclusive Negotiation Agreement with BRIDGE Housing Corporation to Negotiate the Terms for the Development of the Property as Senior Affordable Housing.

Deputy Executive Director Marc Fontes presented the report.  BRIDGE Housing has proposed development of approximately 70 affordable housing units for seniors.  Staff proposed that the Agency assume BRIDGE Housing’s existing contract to purchase the Property and negotiate an Exclusive Negotiation Agreement (ENA) with BRIDGE Housing.  This land banking strategy enables the Agency to take advantage of the land availability and work with BRIDGE Housing to develop the project and financial plan.

Mbr. Perkins asked if there was any urgency for this item.  Mr. Fontes stated that the BRIDGE agreement with the seller has a time frame.  Mbr. Perkins asked who would control the project if the property is purchased by BRIDGE Housing.  Mr. Fontes said that the City would control what the project looks like through the entitlement process.  The purchase price is $1.6 million for approximately 1.3 acres based on the appraisal.  Mbr. Perkins stated that he is not convinced that there is an urgency to the purchase and that the price criteria have not been met.  Mbr. Wilson noted that the Finance Committee had similar concerns.  Mbr. Hudson suggested that the discussion on this item be continued.  Chair Rowley stated that the Agency may be interested in this proposal but that it is overpriced.  Mbr. Hudson asked if the issue is about senior housing and if an extension could be given only through the end of the year.  Mr. Fontes noted that the ENA with BRIDGE is reasonable as long as progress is made.  Mbr. Perkins stated that he is interested in improving the property but that there is no urgency to purchase the property at this price.  He noted that it will also cost an additional $100,000 to $200,000 to demolish the existing buildings.  Chair Rowley asked if the item could be continued.

Tom Early, Director of Development for BRIDGE Housing, stated that he is aware of the sensitivity regarding pricing.  He confirmed that BRIDGE Housing’s agreement with the seller has a definite time line.  He requested that the Agency provide more clarity regarding its direction and timelines.  He noted that BRIDGE Housing paid for the property’s appraisal.  Any changes to the price or timelines could jeopardize the pending agreement.  Mbr. Hudson noted that this is a difficult property to develop and that the Agency is already involved in several other properties in the City. 

Mbr. Hudson’s motion to continue item 9.1 to the next Agency meeting was seconded by Mbr. Perkins and passed 4-0.  Mbr. Livingstone was absent.  Mr. Early reiterated the need to obtain parameters from the Agency regarding negotiating pricing and timelines.  He added that this site because of its location is uniquely qualified for state loans and federal tax credits for affordable housing.  Mbr. Wilson suggested that the Agency Chair and staff meet with BRIDGE Housing to continue to work on this project.

Executive Director Herb Moniz stated that the Agency’s direction is that the Agency is not willing to proceed with financing the project at this price.

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There being no further business for Agency consideration, the meeting adjourned at 7:43 p.m.


Carol J. Rowley, Agency Chair
Patricia Edwards, Agency Secretary

Approved at the March 23, 2010 Agency meeting, 4-0; Livingstone abstain.

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