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Authorize the Town Manager to Execute a Site Development Agreement with Self-Help Ventures Fund for the 2200 Homestead Road Mixed-Income Affordable Housing Development.
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Staff:
Department:
Sarah Osmer Vi?as, Interim Director
Housing and Community
Nate Broman-Fulks, Affordable Housing Manager
Emily Holt, Affordable Housing Development Officer
Overview: This agreement authorizes the Town to temporarily convey land to Self-Help Ventures Fund while they perform and manage site development. The agreement describes the roles and responsibilities of Self-Help and the Town during site development.
Recommendation(s):
That the Council authorize the Town Manager to execute a site development agreement with Self-Help Ventures Fund to prepare the land and infrastructure for the development of mixed income affordable housing at 2200 Homestead Road.
Background: The Town and its outside legal counsel at Sanford Holshouser Law Group have worked with Self-Help Ventures Fund to draft a site development agreement that confirms the roles and responsibilities of Self-Help and the Town in carrying out the site development scope for the 2200 Homestead Road project. This agreement is for the land and infrastructure preparation. Separate agreements with the housing developers - CASA, Community Home Trust, and Habitat for Humanity of Orange County - to develop the housing portions of the project will come to Council for approval in the winter/spring 2022.
The Town Council consistently reviewed and authorized the steps leading to consideration of this agreement.
* In September 2017, the Town Council designated a 14-acre parcel of Town-owned land at 2200 Homestead Road for mixed-income affordable housing and authorized the Town Manager to continue to pursue development on this site and to engage potential partners.
* In June 2018, the Town Council reviewed a concept plan for the development of 2200 Homestead Road.
* In November 2018, the Town Council authorized t...
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