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File #: [19-0933]    Version: 1 Name:
Type: Consent Status: Passed
File created: 10/28/2019 In control: Town Council
On agenda: 11/13/2019 Final action: 11/13/2019
Title: Authorize the Town Manager to Seek an Affordable Housing Partner for Town-Owned Land on Jay Street and Begin Negotiating an Agreement under which the Parties would Prepare a Proposed Development Project.
Attachments: 1. Jay Street Affordable Housing Partner Background Memorandum, 2. Jay Street Property Map, 3. A RESOLUTION AUTHORIZING THE TOWN MANAGER TO SEEK AN AFFORDABLE HOUSING PARTNER FOR TOWN-OWNED LAND ON JAY STREET AND BEGIN NEGOTIATING AN AGREEMENT UNDER WHICH THE PARTIES WOULD PREPARE A PROPOSED DEVELOPMENT PROJECT (2019-11-13/R-3)


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Authorize the Town Manager to Seek an Affordable Housing Partner for Town-Owned Land on Jay Street and Begin Negotiating an Agreement under which the Parties would Prepare a Proposed Development Project.
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Staff:
Department:
Loryn Clark, Executive Director
Housing and Community
Sarah Osmer Vi?as, Assistant Director

Nate Broman-Fulks, Affordable Housing Manager

Emily Holt, Affordable Housing Development Officer


Overview: In June 2018, the Town Council prioritized three Town-owned sites for affordable housing, including a seven-acre parcel on Jay Street (PINs: 9778-99-9279, 9788-09-1257, 9788-09-1232), and authorized the Town Manager to pursue affordable housing on those sites. At the September 18, 2019 Council Work Session, staff presented the results of a feasibility analysis conducted by local engineering firm Ballentine Associates. At that meeting the Town Council supported moving forward with planning for the Jay Street site, starting with establishing goals for the project and searching for a developer partner.

Staff proposed the following goals for the Jay Street site, which the Town Manager shared with Council via email on October 23, 2019:
1. Provide housing affordable to a range of income levels with priority for units serving households earning 60% or less of Area Median Income
2. Maintain long term affordability
3. Minimize need for Town funding through leverage of outside funding
4. Utilize environmentally friendly and sustainable principles for development
5. Facilitate connections within the community and surrounding neighborhood

Proposed Next Steps:
* With Town Council authorization, staff will issue a solicitation for proposals and qualifications.
* Staff will then work with an evaluation team and the Manager to select a potential partner with whom the Town will begin negotiating an agreement to prepare a proposed development project.
* Staff will return to Council with a recommendation to approve the partner and the terms ...

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