HomeMy WebLinkAboutReso 17-23 Approving a First Amended and Restated Community Benefit Program Agreement for the Amador Station Affordable Housing Project
Reso. No. 17-23, Item 7.1, Adopted 02/21/2023 Page 1 of 2
RESOLUTION NO. 17 – 23
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
APPROVING A FIRST AMENDED AND RESTATED COMMUNITY BENEFIT PROGRAM
AGREEMENT AND AN AMENDED AND RESTATED AFFORDABLE HOUSING
ASSISTANCE AGREEMENT BETWEEN THE CITY OF DUBLIN AND THE RELATED
COMPANIES OF CALIFORNIA, LLC, FOR THE AMADOR STATION AFFORDABLE
HOUSING PROJECT
WHEREAS, on September 21, 2021, the City Council adopted Resolution No. 115-21
approving a Community Benefit Program Agreement and Affordable Housing Assistance
Agreement with BRIDGE Dublin LLC; and
WHEREAS, BRIDGE Dublin LLC has subsequently partnered with The Related
Companies of California, LLC. (the Applicant), a for profit affordable housing developer and they
are forming an entity that will be a joint venture between the two companies; and
WHEREAS, the Applicant, is seeking approval of a First Amended and Restated
Community Benefit Program Agreement and an Amended and Restated Affordable Housing
Assistant Agreement for the Amador Station Project, a 300-unit affordable housing development
of a 3.6-acre vacant site located on Golden Gate Drive adjacent to the West Dublin/Pleasanton
BART Station within the Downtown Dublin Specific Plan Transit-Oriented District; and
WHEREAS, on April 10, 2021, the Planning Commission adopted Resolution No. 21-06
approving a Site Development Review Permit for the project; and
WHEREAS, due to changes in funding availability and construction costs outside the
Applicant’s control, amendments are being proposed to the Community Benefit Program
Agreement and the Affordable Housing Assistance Agreement that include modifying the project
phasing and affordability, the timing for units allocated to the project from the Development Pool,
and how the City’s Affordable Housing Funds, Local Housing Trust Fund Grant, and Alameda
County Measure A-1 bond funds are allocated to the revised project phases. The Applicant has
also requested a $4.3 million pre-development loan from the City; and
WHEREAS, the term of the Community Benefit Program Agreement shall commence on
the Effective Date and shall extend until the earlier of the following: 1) the Developer has satisfied
all of the obligations to the City as set forth in Section 3 of the Agreement; 2) any of the project
approvals expires; or 3) three years after the Effective Date plus any extensions granted pursuant
to Section 4.1, Section 4.3, or Section 4.5 of the Agreement.
NOW, THEREFORE, BE IT RESOLVED that the Dublin City Council hereby approves the
First Amended and Restated Community Benefit Program Agreement and the Amended and
Restated Affordable Housing Assistance Agreement between the City of Dublin and The Related
Companies of California, LLC, as attached as Exhibit A and Exhibit B to this Resolution.
BE IT FURTHER RESOLVED that the City Manager is authorized to execute the amended
agreements, attached hereto as Exhibit A and Exhibit B, and make any necessary, non-
substantive changes to carry out the intent of this Resolution.
Reso. No. 17-23, Item 7.1, Adopted 02/21/2023 Page 2 of 2
PASSED, APPROVED AND ADOPTED this 21st day of February 2023, by the following
vote:
AYES: Councilmembers Hu, Josey, and Qaadri
NOES: Councilmember McCorriston and Mayor Hernandez
ABSENT:
ABSTAIN:
______________________________
Mayor
ATTEST:
_________________________________
City Clerk