HomeMy WebLinkAboutReso 74-26 Approving an Amendment to the First Amended and REstated Community Benefit Prog
Reso. No. 74-26, Item 5.13, Adopted 07/21/2026 Page 1 of 2
RESOLUTION NO. 74 – 26
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
APPROVING AN AMENDMENT TO THE FIRST AMENDED AND RESTATED COMMUNITY BENEFIT
PROGRAM AGREEMENT AND THE AMENDED AND RESTATED AFFORDABLE HOUSING ASSISTANCE
AGREEMENT BETWEEN THE CITY OF DUBLIN AND THE RELATED COMPANIES OF CALIFORNIA LLC
FOR THE AMADOR STATION AFFORDABLE HOUSING PROJECT
WHEREAS, BRIDGE Dublin LLC proposed to develop certain vacant property on Golden Gate Drive
(APNs 941-2842-002-00 & 941-2842-004-00) (“the Property”), which is within the Transit Oriented District
of the Downtown Dublin Specific Plan Area, and as part of its proposal desired to develop 300 units of
affordable housing on an approximately 3.6-acre site (“the Project”); and
WHEREAS, on September 21, 2021 the City Council adopted Resolution No. 115-21 approving a
Community Benefit Program Agreement and Affordable Housing Assistance Agreement with BRIDGE
Dublin LLC; and
WHEREAS, BRIDGE Dublin LLC has subsequently assigned its rights with respect to the Property
to Related Companies of California LLC (“Developer”), and on February 21, 2023 the City Council adopted
Resolution No. 17-23 approving a First Amended and Restated Community Benefit Program Agreement
and Restated Affordable Housing Assistance Agreement between the City of Dublin and the Developer;
and
WHEREAS, despite diligent efforts the Developer has so far been unable to secure sufficient
funding for the development of the Project; and
WHEREAS, the Developer is requesting an extension to the Residential Allocation Terms, as set
forth in Section 4.5 of the Community Benefit Agreement, Predevelopment Loan Term in Subsection
5(a)(iii) and County A-1 Bond Assistance in Subsection 6(c) of the Affordable Housing Assistance
Agreement. Despite diligent efforts, Developer has been unsuccessful in securing sufficient funding to
begin construction on Phase A (consisting of Subphases A-1 and A-2 and now referred to as Phase 1 and
Phase 2). Developer has submitted for building permits and received extensions for the Term and
Residential Allocations for Phase 1 and Phase 2; however, those extensions are nearing expiration.
Developer is also requesting corresponding extensions for Phase B (consisting of Subphases B-1 and B-2,
now referred to as Phase 3 and Phase 4). Developer has not yet secured building permits or received
extensions for the Term and Residential Allocations for Phases 3 and 4, and has not pursued building
permits for those phases because it is focused on securing funding for and constructing Phases 1 and 2
before beginning work on Phases 3 and 4; and
WHEREAS, the Parties desire to extend the term of the residential allocation as necessary to allow
the Developer sufficient time to obtain funding and construct the Project on the Property.
NOW, THEREFORE, BE IT RESOLVED that the Dublin City Council hereby approves the
Amendment to the First Amended and Restated Community Benefit Program Agreement and the Amended
and Restated Affordable Housing Assistance Agreement between the City of Dublin and The Related
Companies of California LLC, attached as Exhibit A and Exhibit B to this Resolution (the “Amendments”).
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Reso. No. 74-26, Item 5.13, Adopted 07/21/2026 Page 2 of 2
BE IT FURTHER RESOLVED that the City Manager is authorized to execute the Amendments,
attached hereto as Exhibit A and Exhibit B, and make any necessary, non-substantive changes to carry
out the intent of this Resolution.
PASSED, APPROVED, AND ADOPTED BY the City Council of the City of Dublin, on this 21st day of
July, 2026 by the following vote:
AYES: Councilmembers Josey, McCorriston, Morada, Qaadri and Mayor Hu
NOES:
ABSENT:
ABSTAIN:
______________________________
Mayor
ATTEST:
_________________________________
City Clerk
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AMENDMENT TO
FIRST AMENDED AND RESTATED CITY OF DUBLIN COMMUNITY BENEFIT
PROGRAM AGREEMENT WITH THE RELATED COMPANIES OF CALIFORNIA, LLC,
Golden Gate Drive
(APNs 941-2842-002-00 & 941-2842-004-00)
This Amendment to the First Amended and Restated Community Benefit
Program Agreement ("Amendment") is entered into on July 21, 2026 (the “Effective
Date”), by and between the City of Dublin, a municipal corporation ("City"), and The
Related Companies of California, LLC, a California limited liability company
("Developer"). City and Developer are, from time-to-time, individually referred to in this
Agreement as a "Party," and are collectively referred to as “Parties.”
RECITALS
A. Developer’s predecessor, BRIDGE Dublin LLC, proposed to develop certain vacant
property on Golden Gate Drive (APNs 941-2842-002-00 & 941-2842-004-00) within
the Specific Plan Area (“the Property”), which is within the Transit Oriented District of
the Specific Plan Area, and as part of its proposal desires to develop 300 units of
affordable housing on an approximately 3.6-acre site (“the Project”).
B. BRIDGE Dublin LLC and the City entered into a Community Benefit Program
Agreement dated as of September 21, 2021 (the “Original Agreement”) which sets
forth certain community benefits to be provided by BRIDGE Dublin LLC in connection
with the development of the Property.
C. BRIDGE Dublin LLC subsequently assigned its rights with respect to the Property to
Developer. The City and Developer entered into a First Amended and Restated
Community Benefit Program Agreement on February 21, 2023 (as amended and
restated, the “Agreement”).
D. Developer has diligently pursued financing for the Project, including applications for
available public funding sources, and requires additional time to complete the
financing and commence construction.
E. Developer is requesting an extension of the Residential Allocation Terms set forth in
Section 4.5 of the Agreement for each phase of the Project. Phase 1 and Phase 2 are
currently subject to previously approved extensions that are nearing expiration.
Developer also seeks corresponding Residential Allocation Terms for Phase 3 and
Phase 4 to reflect the revised phasing and anticipated development schedule for the
Project.
2Exhibit A to the Resolution
Exhibit A to the Resolution
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F. The Parties desire to extend the term of the residential allocation as necessary to
allow the Developer sufficient time to obtain funding and construct the Project on the
Property.
NOW, THEREFORE, with reference to the foregoing recitals and in consideration of the
mutual promises, obligations and covenants herein contained, City and Developer agree as
follows:
AGREEMENT
1. Amendment to Residential Allocation Term and Extensions. Subsection 4.5 of the
Agreement is hereby amended to read as follows:
4.5 Residential Allocation Terms and Extensions. The terms of the Residential
Allocations pursuant to this Section 4 (“Residential Allocation Term”) shall expire on
the following dates:
4.5.1 Phase 1 Residential Allocation Term: December 31, 2028. If Developer
is unable to utilize Measure A-1 financing, Developer may submit an updated
financing plan that does not include Measure A-1 funds. Provided the City
Manager reasonably determines that the revised financing plan demonstrates
a viable path to financing and development of Phase 1, the Residential
Allocation Term shall remain in effect through December 31, 2028 (and
thereafter remain eligible for extensions pursuant to Section 4.5).
4.5.2 Phase 2 Residential Allocation Term: August 21, 2029.
4.5.3 Phase 3 Residential Allocation Term: August 21, 2030.
4.5.4 Phase 4 Residential Allocation Term: August 21, 2031.
Notwithstanding the foregoing, upon the written request of Developer to City
for an extension of one or more of the Residential Allocation Terms for a period
of one or more years, City Manager shall not unreasonably disapprove such
request if the City Manager finds, in his or her reasonable discretion, all of the
following: (i) Developer has diligently applied for funding reasonably available
for the applicable Phase in accordance with a financing plan reasonably
acceptable to the City Manager, and (ii) Developer has obtained City approval
of, or has submitted a complete application for, building permits for the
applicable Phase (as shown on the revised Exhibit A) (the “Extended
Residential Allocation Date”).
2. Renaming of Project Phases.
a. All references in the Agreement to Phase A-1 shall be revised to
Phase 1.
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b. All references in the Agreement to Phase A-2 shall be revised to
Phase 2.
c. All references in the Agreement to Phase B-1 shall be revised to
Phase 3.
d. All references in the Agreement to Phase B-2 shall be revised to
Phase 4.
e. All references in the Agreement to Phase A shall be revised to Phases
1 and 2.
f. All references in the Agreement to Phase B shall be revised to Phases
3 and 4.
3. No Other Amendments. Except as amended by this Amendment, the
Agreement shall continue unmodified and in full force and effect. All terms not separately
defined herein shall have the meanings as defined in the Agreement.
IN WITNESS WHEREOF, the Parties hereto have caused this Amendment to be
executed as of the date set forth above.
CITY:
City of Dublin,
a municipal corporation
_________________________________
Colleen Tribby, City Manager
Attest:
_________________________________
Marsha Moore, City Clerk
Approved as to form
_________________________________
John D. Bakker, City Attorney
DEVELOPER:
The Related Companies of California,
LLC,
a California limited liability company
By:
Name:Ann Silverberg
Title: Vice President
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AMENDMENT TO AMENDED AND RESTATED
AFFORDABLE HOUSING ASSISTANCE AGREEMENT
Amador Station Housing Project
This Amendment to the Amended and Restated Affordable Housing Assistance
Agreement ("Amendment") is entered into as of July 21, 2026 (the “Effective Date”), by
and between the City of Dublin, a municipal corporation ("City"), and The Related
Companies of California, LLC, a California limited liability company ("Developer")
(collectively, the “Parties”).
RECITALS
A. Developer and City have entered into an Amended and Restated
Affordable Housing Assistance Agreement ("Agreement") dated February 21, 2023, with
respect to the Developer’s Amador Station four-phase housing development project (the
“Projects”).
B. Developer and City desire to make certain changes to the Agreement to
conform with changes which are concurrently being made to the Amended and
Restated Community Benefit Agreement between the Parties with respect to the
Projects.
NOW, THEREFORE, City and Developer agree as follows:
1. Amendment to Predevelopment Loan Term. Subsection 5(a)(iii) of the
Agreement is hereby amended to read as follows:
iii. The term of the Predevelopment Loan will be equal to the later of (i) the
Phase 2 Residential Allocation Term pursuant to Section 4.1 of the First
Amended and Restated Community Benefit Program Agreement, or (ii) the
Extended Residential Allocation Date for Phase 2 pursuant to Section 4.5 of the
First Amended and Restated Community Benefit Program Agreement, as
amended by the Amendment to the First Amended and Restated Community
Benefit Program Agreement dated July 21, 2026, if applicable. To the extent the
term stated herein conflicts with any of the Predevelopment Loan documents, the
term as set forth herein shall prevail.
2. Amendment to Residential Allocation Term and Extensions. Subsection
6(c) of the Agreement is hereby amended to read as follows:
c. In the event that (a) Developer does not or is otherwise unable to
commence construction on the Phase 1 Project prior to the end of the Phase 1
Residential Allocation Term or the Extended Residential Allocation Date for
Exhibit B to the Resolution
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Phase 1, if applicable, as those dates are established pursuant to the Community
Benefit Agreement as amended by the Amendment to the First Amended and
Restated Community Benefit Program Agreement dated July 21, 2026, or (b)
Developer does not or is otherwise unable to close the County A1 Bond Program
loan for the Phase 1 Project prior to the deadline for closing such loan, as
established by the County of Alameda including any extensions to the deadline
by the County of Alameda, the City may reallocate the $2,900,000 share of the
County A1 Bond Program funds to a different affordable housing project selected
by the City in its sole discretion.
3. Renaming of Project Phases.
a. All references in the Agreement to Phase A-1 shall be revised
to Phase 1.
b. All references in the Agreement to Phase A-2 shall be revised
to Phase 2.
c. All references in the Agreement to Phase B-1 shall be revised
to Phase 3.
d. All references in the Agreement to Phase B-2 shall be revised
to Phase 4.
e. All references in the Agreement to Phase A shall be revised
to Phases 1 and 2.
f. All references in the Agreement to Phase B shall be revised
to Phases 3 and 4.
4. No Other Amendments. Except as amended by this Amendment, the
Agreement shall continue unmodified and in full force and effect. All terms not
separately defined herein shall have the meanings as defined in the Agreement.
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IN WITNESS WHEREOF, the Parties hereto have caused this Amendment to be
executed as of the date set forth above.
CITY:
City of Dublin,
a municipal corporation
_________________________________
Colleen Tribby, City Manager
Attest:
_________________________________
Marsha Moore, City Clerk
Approved as to form:
_________________________________
John D. Bakker, City Attorney
DEVELOPER:
The Related Companies of California,
LLC, a California limited liability
company
By:
Name:Ann Silverberg
Title: Vice President
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