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MINUTES OF THE
CITY OF SAN RAMON – REDEVELOPMENT AGENCY
March 23, 2010

A regular meeting of the City of San Ramon Redevelopment Agency was held on March 23, 2010 at 9:43 p.m. in the Council Chamber at City Hall, 2222 Camino Ramon, Chair Rowley presiding.
PRESENT:  Agency Members Hudson, Livingstone, Wilson, Vice Chair Perkins, and Chair Rowley.
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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PLEDGE OF ALLEGIANCE

Deputy Executive Director Marc Fontes led those in attendance in the pledge of allegiance.

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ANNOUNCEMENTS

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PUBLIC COMMENT

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

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APPROVAL OF MINUTES

(#5.1) Minutes of the March 9, 2010 Joint City Council and Redevelopment Agency Special Meeting.
Mbr. Perkins’ motion to approve the minutes of the March 9, 2010 Joint City Council and Redevelopment Agency Special meeting was seconded by Mbr. Hudson and passed 4-0.  Mbr. Livingstone abstained. 

(#5.2) Minutes of the March 9, 2010 meeting.
Mbr. Perkins’ motion to approve the minutes of the March 9, 2010 meeting was seconded by Mbr. Hudson and passed 4-0.  Mbr. Livingstone abstained. 

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CONSENT CALENDAR

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WRITTEN COMMUNICATION

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

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UNFINISHED BUSINESS

(#8.1) Resolution RDA 2010-002 – Approving and Authorizing the Expenditure of Up to $1.4 Million to Purchase the Property Located at 9000 Alcosta Boulevard (APN 210-520-031); Approving and Authorizing the Execution of an Assignment and Assumption Agreement Providing for the Purchase of the Property by the Agency and Approving and Authorizing the Execution of an Exclusive Negotiation Agreement with BRIDGE Housing Corporation to Negotiate the Terms of an Agreement for the Development of the Property as Senior Affordable Housing.

Marc Fontes, Deputy Executive Director, provided 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.

Mr. Fontes recognized the efforts of the Agency Chair and Vice Chair in renegotiating the purchase price from $1.6 million to $1.4 million.  Mbr. Wilson asked who negotiated the agreement with the bank.  Chair Rowley responded that BRIDGE Housing did.  Mbr. Wilson questioned the cost and time frame for the building demolition.  Mr. Fontes responded that the demolition cost estimate is $100,000.  He did not know how long the demolition would take.

Chair Rowley opened the public comments. 

Tom Earley, Director of Development for BRIDGE Housing, thanked City staff for their diligence in working through the process.  Mbr. Perkins questioned BRIDGE’s schedule to obtain financing.  Mr. Earley responded that the primary funding vehicle will be tax credits.  Depending upon the tax credit schedule and the City’s required project approvals, he expects that they will apply for the tax credits within one year.  He stated that the demolition will be completed in an orderly manner. 

Mbr. Hudson questioned the exclusive two year negotiation and asked when the City can expect to see plans, building, etc.  Mr. Earley responded that the tax credit should be available in March 2011 with plans and entitlements.  If BRIDGE Housing has all the necessary funding commitments, they should be able to award the bid by June 2011 and start construction in 90-120 days.  The conceptual plans are done as part of the due diligence.  Mbr. Hudson noted that this is acceptable if the current building is leveled.

Mbr. Wilson requested that quarterly reports be provided by BRIDGE Housing to the Agency.  He does not support the purchase unless it includes demolition of the building.  Chair Rowley expressed concern for vandalism and safety at the existing building.

Vice Chair Perkins’ motion to approve Resolution RDA 2010-002 was seconded by Mbr. Hudson and passed 5-0. 

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NEW BUSINESS

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

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There being no further business for Agency consideration, the meeting adjourned at 9:59 p.m.

 

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

Approved at the May 25, 2010 Agency meeting, 4-0; Wilson absent.

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