AGENDA ITEM EXECUTIVE SUMMARY
ITEM TITLE*
title
Authorization to Execute a Development Contract with Community Home Trust for the Townhomes in the Homestead Gardens Affordable Housing Development
presenter
RESPONSIBLE STAFF, TITLE, DEPARTMENT*
Alicia Arnold, Director, Housing and Community Development Department (HCD)
Emily Holt, Affordable Housing Assistant Director, HCD
Maggie Simon, Affordable Housing Development Coordinator, HCD
STAFF RECOMMENDATION*
Staff recommend that the Council authorize the Town Manager to execute a development contract with Community Home Trust for the development of townhomes in the Homestead Gardens Affordable Housing Development.
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ACTION/DECISION POINTS*
Council must approve or reject the authorization to execute the development contract with Community Home Trust for the development of the townhomes in the Homestead Gardens Affordable Housing Development.
LEGISLATIVE CONTEXT*
In November 2018, Council authorized the Town Manager to issue a Request for Qualifications to identify potential development partners for 2200 Homestead Road and to begin negotiations with potential developers. Staff now need Council authorization to execute a development contract with Community Home Trust.
BACKGROUND AND CONTEXT*
Background
The Town and its outside legal counsel at Ellinger & Carr have worked with Community Home Trust to draft a development contract that establishes the major terms and conditions related to the development of Town land for the construction and sale of the townhomes as part of the Homestead Gardens Affordable Housing Development.
The Town Council has consistently reviewed and authorized elements of the project leading to consideration of this agreement.
* In September 2017, Council designated 2200 Homestead Road as a mixed-income affordable housing site and authorized the Town Manager to continue to pursue development there.
* In June 2018, Council gave feedback on a Concept Plan for the development of 2200 Homestead...
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