BusDev Highlights 2006 0309 - Laserfiche WebLink

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finding a feasible traffic solution is also a key to the future success of the site. Both land use options appear to show noticeable traffic impacts at the Marina/San Leandro Boulevard intersection. The City Manager noted the need for emergency vehicle access for this site similar to Heron Bay in order to allow people and autos ready ingress and egress. Mayor Young also mentioned the need for sensitivity to the owner in helping to shape the future use of the site and to build an adequate road system on the site before approving any future use. 4. Update on Development Projects Draft HUD Action Plan FY 2006-07 Summary. Tom Liao briefly summarized the key highlights for the draft FY 2006-07 U.S. Department of Housing and Urban Development (HUD) Action Plan, specifically a reduction in the City's Community Development Block Grant (CDBG) entitlement grant from HUD by about $90,000 from the previous year that has negatively impacts public services and general administration funding (see attachment). Staff will present the draft Action Plan for City Council review on March 20th as well as seek Council approval to begin a 30 day public comment period on the draft and set a second public hearing on May 1St Update on Downtown TOD Strategy. Hanson Hom informed the Committee that staff is currently studying an existing conditions report and will be presenting the report to the Citizens Advisory Committee for the Downtown Transit Oriented Development (TOD) Strategy at its second meeting on March 28th. Also, there is a planned field trip, which the City Council will also receive invitations to, for the CAC to visit other TOD projects in the Bay Area. 5. Public Comments Charles Gilcrest cautioned there is a significant difference in the amount of City subsidy need fora 9% low income housing tax credit (LIHTC) deal for the Islander Motel project versus a 4% tax credit deal with the former providing substantially more tax credit equity into the project. Therefore, if MHC is not able to receive a 9% tax credit in 2006, then the City should carefully reconsider whether it wants to pursue the 4% tax credit as a back-up option. Hanson Hom responded that if MHC does not receive 9% tax credits this year, they would need to come back to the Council for direction (e.g., extend the DDA). 6. Committee Member Comments Councilmember Stephens asked if the total estimated development cost of $13 million for the Islander Motel project included land acquisition cost. The City Manager responded that it did include land. Councilmember Stephens compared how the school districts have sometimes found demolition and new construction of older buildings to be cost effective as well as allowing a fresh start. The City Manager mentioned that staff had explored multiple options for the property and found demolition new construction to be expensive and not the most feasible option. Hanson Hom described how the seismic analysis performed on the Islander Motel during escrow surprisingly revealed that the soft story building did not need to be torn down. Tom Liao added that the proposed substantial rehabilitation will seem almost like new construction.