AGENDA ITEM EXECUTIVE SUMMARY
ITEM TITLE*
title
Authorization to Execute a Ground Lease with CASA for the Supportive Housing Building 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 99-year ground lease with CASA for the Supportive Housing building in the Homestead Gardens Affordable Housing Development.
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ACTION/DECISION POINTS*
Council must approve or reject the authorization to execute the ground lease with CASA for the Supportive Housing building in the Homestead Gardens Affordable Housing Development.
LEGISLATIVE CONTEXT*
In June 2023, Council authorized the Town Manager to execute option to ground lease agreements with CASA for their portions of the Town-owned 2200 Homestead Road site. Staff now need Council authorization to execute a ground lease with CASA.
BACKGROUND AND CONTEXT*
Background
The Town and its outside legal counsel at Ellinger & Carr have worked with CASA to draft a ground lease that establishes the major terms and conditions related to the lease of Town land for the development and management of the Supportive Housing building 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 Road.
* In November 2018, Council authorized the Town Manager to issue a Request for Qualifications to identify potenti...
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