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HomeMy WebLinkAbout8.1 Community Benefit Agreement Deal Points � � : 0 dibt, 82 STAFF REPORT CITY CLERK ky Fi le #___ _�s CITY COUNCIL 1 ton-q DATE: October 7, 2014 TO: Honorable Mayor and City Councilmembers FROM: Christopher L. Foss, City Manager SUBJECT: Authorization of Units from the Development Pool and Related Community Benefit Agreement Deal Points with Presidio Mana Dublin, LLC. Prepared by Lori Taylor, Economic Development Director and Public Information Officer EXECUTIVE SUMMARY: Presidio Mana Dublin, LLC seeks units from the Downtown Dublin Specific Plan Development Pool in order to develop a project at 6541-6543 Regional Street. Staff will present the negotiated deal points to be included in the Community Benefit Agreement and is requesting authorization from the City Council to proceed with its preparation. FINANCIAL IMPACT: None. C RECOMMENDATION: Staff recommends that the City Council authorize preparation of a Community Benefit Agreement based on the negotiated deal points summarized in this report. '/-451/21i jar-- Submitted > . Reviewed By Economic Development Director/ Assistant City Manager Public Information Officer DESCRIPTION: Presidio Mana Dublin, LLC, in partnership with Bay Rock Multifamily, a development company, is seeking to develop a residential project at 6541-6543 Regional Street, which is on the corner of Regional and St. Patrick's Way. The 1.33 acre site currently includes an approximately 15,000 square foot single-story office building. This site is located in the Transit-Oriented District within the Downtown Dublin Specific Plan. The developer seeks to build a 43-unit residential condominium project in six buildings on the site. The developer needs units from the Downtown Dublin Specific Plan Development Pool in order to proceed with this project. C.1) Page 1 of 3 ITEM NO. 8.1 Residential projects within the Downtown Dublin Specific Plan (DDSP) require a Community Benefit Agreement between the Developer and the City, in which the City grants units from the DDSP's development pool. The Specific Plan identifies the number of residential units that may be constructed in the Plan area and establishes a pool of these units. A developer must request City Council authorization to pull units from this pool and must provide a benefit to the community for the use of these units. A Community Benefit Agreement is required to ensure that a benefit is provided and establishes a timeframe in which the developer must construct the units. The units are returned to the pool at the end of the established timeframe if not constructed. Bay Rock Multifamily and City Staff have met on several occasions to discuss the terms of the proposed Community Benefit Agreement. Staff is seeking the City Council's support for the negotiated deal points between City Staff and Bay Rock. If the authorization is given, the developer's proposed entitlements (Site Development Review and Vesting Tentative Map) will be processed and the Community Benefit Agreement will be brought back to the City Council for final approval shortly after the entitlements are presented to the Planning Commission. Proposed Community Benefit Agreement Terms Following are the proposed negotiated deal terms with Presidio Mana Dublin, LLC: • Presidio Mana would receive an allocation of 43 units from the Downtown Dublin Specific Plan's Development Pool to construct the units. In exchange for the allocation of development capacity, Presidio Mana will pay a Community Benefit payment of$10,000 per unit, for a total of$430,000. • The term of the units obtained from the Development Pool is two years from the City approval of project entitlements, which in this case will be Site Development Review and a Vesting Tentative Map, unless that timeframe is extended by the City. Staff is recommending that the City Council authorize Staff to prepare and process a Community Benefit Agreement that contains the deal points as described in this staff report. Should the City Council authorize Staff to move forward, a Community Benefit Agreement will be formalized and brought to the City Council for consideration after the Site Development Review (SDR) and Vesting Tentative Map (VTM) project applications have been approved by the Planning Commission, which approvals would be subject to the City Council approval of the Community Benefit Agreement. If the SDR and VTM applications do not move forward or are not approved by the Planning Commission, the Community Benefit Agreement will not be brought to the City Council. City Council authorization to prepare the Community Benefit Agreement does not imply any endorsement of the development project itself, which will be reviewed by the Planning Commission, but only of the deal points associated with the project, as outlined above. Page 2 of 3 ENVIRONMENTAL REVIEW: The proposed project is located within the Downtown Dublin Specific Plan area, which was the subject of an Environmental Impact Report (EIR), State Clearinghouse number 20100022005. The Downtown Dublin Specific Plan Final EIR was certified by City Council Resolution No. 08- 11 dated February 1, 2011. An Addendum to the DDSP Final EIR was approved by the City Council on May 6, 2014 (Resolution 50-14) that provided the CEQA documentation for an increase in the DDSP Development Pool from 1,300 to 2,500 units. Pursuant to the California Environmental Quality Act (CEQA) Guidelines section 15168, the Community Benefit Agreement is within the scope of the project analyzed in the Specific Plan EIR and no further CEQA review or document is required. A Community Benefit Agreement/Development Agreement to allocate residential development is authorized under the DDSP. The environmental impacts of the residential development is authorized by such an allocation were analyzed in the Specific Plan EIR. There is no substantial evidence in the record that any of the conditions triggering supplemental environmental review under CEQA Guidelines section 15162 exists. NOTICING REQUIREMENTS/PUBLIC OUTREACH: Not applicable. ATTACHMENTS: None. Page 3 of 3