Agmt 2014 Metropolitan Transportation Commission MTC

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