Report to Carson Housing Authority
Tuesday, June 21, 2016
Discussion
SUBJECT:
Title
CONSIDER ENTERING INTO AN EXCLUSIVE NEGOTIATING AGREEMENT WITH THOMAS SAFRAN AND ASSOCIATES FOR DEVELOPMENT OF AN AFFORDABLE HOUSING PROJECT FOR VETERANS OF MILITARY SERVICE AT 600 WEST CARSON STREET (HOUSING AUTHORITY)
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I. SUMMARY
Thomas Safran and Associates (Developer) is under contract to acquire the property directly south (Adjacent Property) of the Carson Successor Agency-owned property located at 600 West Carson Street (Agency Property) (Exhibit No.1). The Developer is already under contract with the Carson Successor Agency to negotiate the purchase of the Agency Property so that it may be assembled with the Adjacent Property. Once assembled the Developer proposes to develop a multi-family workforce housing community that would provide leasing preference to veterans of the United States Armed Forces.
The Developer now wishes to enter into an Exclusive Negotiating Agreement (ENA) with the Carson Housing Authority to negotiate the terms of an Affordable Housing Agreement (AHA). The ENA will be for a period of 180 days, during which the Developer will begin to process the entitlement for the property and the terms of an AHA will be negotiated.
II. RECOMMENDATION
Recommendation
TAKE the following actions:
1. APPROVE the Exclusive Negotiating Agreement between the Authority and Thomas Safran and Associates, which shall be in substantially the same form as attached hereto, following approval as to form by Authority Counsel.
2. AUTHORIZE the Authority Chairman to execute the Exclusive Negotiating Agreement following approval as to form by Authority Counsel.
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III. ALTERNATIVES
TAKE another action the Authority Board deems appropriate.
IV. BACKGROUND
The Developer desires to enter into an ENA (Exhibit No. 2) with the Authority to negotiate the terms of an AHA whereby the Authority would provide financial assistance to the Developer for development of th...
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