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MTC/City of San Leandro <br />Bay Fair BART Transit Village Specific Plan EIR Funding Agreement <br />Page 5 <br />Task 3: Market Demand Analysis <br />The consultant will prepare a preliminary report on the potential market demand for transit - <br />oriented development in the study area with consideration of the benefits and constraints of <br />Bayfair Center, BART, and AC Transit. The market analysis will examine all forms of potential <br />development, including ownership and rental housing in a range of pricing, office, retail and <br />mixed-use .development. This analysis will include •a feasibility assessment of providing <br />affordable (e.g., very low, low and moderate income) and market rate housing to various <br />household sizes, which may help inform the preparation of Task and result in cost savings for <br />Task 5 ("Affordable Housing and Anti -Displacement Strategy). The market analysis will <br />consider the financial feasibility of each development type based on current and projected land <br />and development costs, potential lease rates and sale prices, current City development. standards <br />and fees, compatibility with surrounding uses, and other pertinent factors. Housing and mixed- <br />use developers, including for-profit and non-profit firms, will be interviewed (possibly through a <br />Developer's Symposium) to determine the market, financial, regulatory and other factors that <br />would affect their decision to build a transit -oriented project within the study area. The analysis <br />will provide input to the Alternatives Analysis and selection of a Preferred Alternative. <br />Deliverable #3a: Market Demand Analysis Report <br />Deliverable #3b: TAC Meeting — Agenda/Meeting Materials and Minutes <br />Deliverable #3c: CAC Meeting—Agenda/Meeting Materials and Minutes <br />Task 4: Affordable Housing and Anti -Displacement Strategy <br />Taking into account the findings of Task 1 (PDA Profile) and Task 3 (Market Demand Analysis), <br />the consultant will develop a strategy to provide existing and future planning area residents with <br />a range of housing options that are affordable to households at all income levels. This Strategy <br />will quantify the need for affordable housing and identify policies and actions to meet this need, <br />including potential Specific Plan policy recommendations (e.g., zoning changes, incentives, etc) <br />to address any obstacles to providing affordable housing identified in Task 3 (Market Demand <br />Analysis). <br />To limit or prevent displacement in the planning area, the strategy should identify how non - <br />subsidized affordable housing units in or near the area may be impacted by the plan build -out. <br />The strategy should describe existing preservation policies to maintain neighborhood <br />affordability (including acquisition and/or rehabilitation of existing affordable housing units) and <br />additional zoning changes or policies needed. <br />The Affordable Housing and Anti -Displacement Strategy will be presented at a community <br />workshop. <br />Deliverable #4a: Affordable Housing and Anti Displacement Strategy Report <br />Deliverable #4b: TAC Meeting—Agenda/Meeting Materials and Minutes <br />Deliverable #4c: CAC Meeting—Agenda/Meeting Material and Minutes <br />Deliverable #4d: Community Workshop - Agenda/Meeting Material and Summary of <br />Feedback <br />