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File Number: 24-044 Pacific West Communities has prepared plans for Bay Fair Apartments, a 497-unit housing project that qualifies as an affordable housing project and was entitled through the State’s streamlined SB (Senate Bill) 35 process. The project is located in the Bay-Fair Transit-Oriented Development (TOD) area and advances the goals of the Bay Fair TOD Specific Plan, the 2023-2031 Housing Element, and the City Council 2023 Priority Housing and Homelessness Work Plan. The City plans to construct 2 lane miles of class IV protected bike lanes along Bancroft Avenue between E.14th Street and 138th Ave and Hesperian Boulevard between Louise Street and Bayfair Drive, and install 2000 linear feet of pedestrian improvements along Bancroft Avenue between E. 14th Street and 138th Avenue. BART plans to install new fare gates and new two rail cars for increased capacity. On February 28, 2024, the City received notice from BART that they cannot commit to the purchase of the two new rail cars originally scoped in this grant application, BART will continue with the transit related amenities scope for installing new fare gates as a partner in the AHSC application. The agreement in Attachment B reflects as such. Combined, these projects still meet the goals of the AHSC program and are likely to be funded. A prior application was approved by City Council on March 20, 2023 but was not awarded by the grantor. Revisions have been made to the scope of work to maximize the project’s scoring potential. ANALYSIS Staff proposes that the City partner with Pacific West Communities and submit a funding application for up to $50,000,000 consisting of up to $35,000,000 as a loan for the Bay Fair Apartment project and up to $15,000,000 as a grant for pedestrian, bicycle, and transit improvements. If the City decides not to partner with Pacific West Communities, they will be unable to apply for the funds. Staff proposes that the City enter into an agreement with BART obligating BART to construct the pedestrian and transit improvements previously listed and obligating the City to forward up to $7,000,000 in AHSC grant funds to BART for the work. Staff proposes that if AHSC awards funding for the project, the City accept the funds and execute all documents required to obtain the funding. If funding is awarded, the City will be responsible for construction of the bicycle and pedestrian improvements previously listed and will receive $8,000,000 for the work. BART will be responsible for the transit improvements previously listed and will receive $7,000,000 for the work, and Pacific West Communities will receive a loan of $35,000,000 for construction of Bay Fair Apartments. Failure to complete any aspect of the project will likely require returning the funds and may impact the City’s future ability to compete for grant funds. Financial Impacts There is no impact on the general fund. There is no required local match for the grant. ATTACHMENTS Page 2 City of San Leandro Printed on 3/21/2024