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HomeMy WebLinkAbout8.1 - 3479 Affordable Housing Funding Proposal Page 1 of 4 STAFF REPORT CITY COUNCIL DATE: November 17, 2020 TO: Honorable Mayor and City Councilmembers FROM: Linda Smith, City Manager SUBJECT: Affordable Rental Housing Funding Proposal Prepared by: Kristie Wheeler, Assistant Community Development Director EXECUTIVE SUMMARY: The City Council will receive a report and select a project to receive funding as part of the City’s Notice of Funding Availability to construct affordable rental housing. The two proposals under consideration are: a 77-unit project that is part of a larger multi-phase project proposed by BRIDGE Housing at 6501 Golden Gate Drive, and a 121-unit project proposed by Eden Housing at 7922 Dublin Boulevard. An initial review of the two proposals has been completed and Staff is seeking City Council concurrence with the preliminary selection. STAFF RECOMMENDATION: Receive the report and provide direction on the selection of an affordable rental housing project. FINANCIAL IMPACT: Funds contributed to support construction of the proposed affordable rental housing development would be provided from the City’s Affordable Housing Fund including fees paid to the City by developers to comply with the City’s Inclusionary Zoning Regulation, and by Alameda County Measure A-1 Bond funds. DESCRIPTION: In July 2020, the City issued a Notice of Funding Availability (NOFA) for the creation of affordable rental housing in Dublin (Attachment 1). Approximately $10.0 million in funding is available to support predevelopment, acquisition, and construction of affordable rental housing. These funds would be allocated from the City’s Affordable Housing Fund and Alameda County A-1 Bond funds allocated to projects in Dublin. The funding is intended to help fill the financing gap between a project’s total development cost and other available financing sources. Funding is limited to capital costs only; no financing is available to fund operating subsidies or supportive services. Page 2 of 4 Qualified affordable housing developers meeting the NOFA requirements and demonstrating their ability to finance, design, build and manage affordable rental housing were encouraged to submit proposals. Eligible projects must be new construction rental development and target extremely-low-, very-low- and/or low-income households earning up to a maximum of 80 percent area median income (AMI). Proposals The City received proposals from BRIDGE Housing and Eden Housing for projects within the Downtown Dublin Specific Plan (DDSP) area. A brief summary of each proposal is provided below. BRIDGE Housing BRIDGE is proposing a multi-phase project on a vacant 3.6-acre BART-owned property located adjacent to the West Dublin BART station at 6501 Golden Gate Drive (Attachment 2). The project would consist of a total of 334 units of which 77 units (Phase 1A) are the subject of BRIDGE’s NOFA proposal. The unit mix would include a combination of studios, one-bedroom, two-bedroom, and three-bedroom units, with 35 units affordable to households earning up to 30 percent AMI, 41 units up to 40 percent AMI, and one manager’s unit. In addition, BRIDGE anticipates that 30 percent of Phase 1A (23 units) would be set aside for special needs populations that could include formerly homeless individuals/families and/or veterans. BRIDGE is requesting $8.5 million in financial assistance, or $110,390 per unit. The multi-phase BRIDGE project proposes an overall residential density of 93 units per acre (334 units/3.6 acres = 93 unit/acre), which would exceed the maximum density of 85 units per acre allowed under the DDSP. In order to achieve this density, the BRIDGE proposal would rely on a density bonus using State Density Bonus Law. State Density Bonus Law is implemented through the City’s Density Bonus Ordinance and provides incentives to developers for the production of housing affordable to lower income households, senior citizens, disabled veterans, and homeless persons. Projects that provide 11 percent of the overall project density as very low-income units are entitled to a density bonus of 35 percent. Phase 1A represents 23 percent of the overall project (77 units out of 334 units) and would be affordable to households earning an average of 35 percent AMI. Therefore, the project would be entitled to a density bonus of 35 percent, which equates to an additional 107 units. The current proposal includes a density bonus of only 28 units. However, in discussions with BRIDGE they have expressed an interest in the ability to consider a density bonus of up to 91 units as they refine their financing and development proposal. In addition, the project would likely take advantage of parking reductions and/or concessions allowed under State Density Bonus Law, which would be analyzed when a development proposal is submitted. The following is a summary of BRIDGE’s proposal: No. Units Unit Type Level of Affordability Parking Ratio No. Levels Phase 1A 77 Affordable except manager’s unit) 35% AMI average 0.8 spaces/unit (62 spaces) 6 (1 parking) Page 3 of 4 No. Units Unit Type Level of Affordability Parking Ratio No. Levels Phase 1B 75 Affordable TBD 1.06 spaces/unit (80 spaces) 6 (1 parking) Phase 2 182 Market Rate NA 1.67 spaces/unit (304 spaces) 7 (2 parking) Total 334 1.33 spaces/unit (446 spaces) Eden Housing Eden Housing is proposing 121 units on 1.45 acres located at 7922 Dublin Boulevard, which is currently occupied by Video Only (Attachment 3). The unit mix would include a combination of studios, one-bedroom, two-bedroom, and three-bedroom units, with five units affordable to households earning up to 20 percent AMI, 27 units up to 45 percent AMI, 64 units up to 50 percent AMI, 24 units up to 60 percent AMI, and one market-rate manager’s unit. The proposed project includes 83 units per acre (121 units/1.45 acres = 83 unit/acre), which would comply with the DDSP maximum allowed density of 85 units per acre. In addition, the project would likely take advantage of parking reductions and/or concessions allowed under State Density Bonus Law, which would be analyzed when a development proposal is submitted. Additionally, the DDSP does require ground floor retail along Dublin Boulevard which was not incorporated into Eden’s initial proposal. Eden is requesting $8.0 million in financial assistance, or $66,116 per unit. The following is a summary of Eden’s proposal: No. Units Unit Type Level of Affordability Parking Ratio No. Levels One Phase 121 Affordable (except manager’s unit) 49% AMI average 1.04 spaces/unit (126 spaces) 5 (1 parking) Next Steps Staff has completed an initial review of the two proposals and found that both meet the minimum requirements of the NOFA. BRIDGE and Eden both have exemplary experience completing affordable rental housing projects of similar size and complexity as proposed, and proven track records collaborating with public agencies, maintaining positive cash flow and compliance with regulatory agreements, and providing quality on- site management. In addition, BRIDGE and Eden both have extensive experience with institutional and private financing that includes conventional construction and permanent loans, tax exempt bonds, and low-income tax credits. Staff is preliminarily recommending that the City Council appropriate funds to BRIDGE’s proposal. This recommendation is based on the following key points: • Phase 1A would include deep affordability levels serving households earning an Page 4 of 4 average of 35 percent AMI. • Thirty percent of Phase 1A would be set aside to provide housing for special needs populations including formerly homeless individuals/families and/or veterans. • Phase 1B, which is not requesting NOFA funds, would include 75 affordable units, increasing the overall affordability of the multi-phase project to 45 percent. The City’s financial assistance provided for Phase 1A and the proposed market-rate units proposed in Phase 2 would help make Phase 1B financially feasible. Averaged across Phases 1A and 1B, the City’s financial assistance would be $55,921 per unit. • The project site has immediate access to BART and bus service and is in close proximity to local services such as grocery stores, banks and restaurants. • The project offers opportunities for shared parking by utilizing the 750-space BART parking garage for evening and weekend parking of project residents. • BRIDGE proposes to design, construct, and maintain a plaza where the BART pedestrian overcrossing lands adjacent to the subject property. • If desired, BRIDGE could accommodate a small retail component, likely a café fronting on Golden Gate Drive, that could serve residents and commuters. If the City Council concurs with this recommendation, Staff would continue to work with BRIDGE to refine their proposal and address any concerns raised by the City Council. Next steps would include returning to the City Council with a formal recommendation and requests to authorize the City Manager to execute an agreement with BRIDGE Housing and allocate units from the DDSP residential pool. Future entitlements would include a Site Development Review Permit and Tentative Parcel Map, which would require review and approval by the Planning Commission. STRATEGIC PLAN INITIATIVE: Strategy 3: Create More Affordable Housing Opportunities. Strategic Objective 3A: Facilitate production of affordable housing for lower income seniors, workforce and special needs households by leveraging the Alameda County Measure A-1 Bond funds and the City’s Affordable Housing Fund. NOTICING REQUIREMENTS/PUBLIC OUTREACH: None. ATTACHMENTS: 1. Notice of Funding Availability 2. BRIDGE Project Description 3. Eden Project Description City of Dublin—Notice of Funding Availability – July 2020 Page 1 CITY OF DUBLIN AFFORDABLE HOUSING FUNDS FOR RENTAL HOUSING DEVELOPMENT NOTICE OF FUNDING AVAILABILITY (NOFA) AND REQUEST FOR PROPOSALS (RFP) Proposal Due: September 18, 2020 by 5:00 p.m. City Contact: Jim Bergdoll, Senior Planner, jim.bergdoll@dublin.ca.gov, 925-833-6618 All inquiries and/or questions shall be submitted no later than September 6, 2020 City of Dublin—Notice of Funding Availability – July 2020 Page 2 Table of Contents I. INTRODUCTION ......................................................................................................................... 3 Funding Sources............................................................................................................................ 3 Eligible Applicants........................................................................................................................ 3 Eligible Projects and Threshold Criteria ....................................................................................... 3 Sites Under Consideration Separately .......................................................................................... 4 Review of Proposals and Project Selection Process ..................................................................... 4 City Financial Participation .......................................................................................................... 5 Compliance Monitoring Fee ......................................................................................................... 5 Legal Fees ..................................................................................................................................... 6 Insurance Requirements ................................................................................................................ 6 II. EVALUATION AND SELECTION .............................................................................................. 6 Project Selection Criteria .............................................................................................................. 6 III. SUBMITTAL REQUIREMENTS ................................................................................................. 7 Cover Letter .................................................................................................................................. 7 Development Entity ...................................................................................................................... 7 Experience..................................................................................................................................... 7 Description of Proposed Project Concept ..................................................................................... 7 Financing Plan and Proforma ........................................................................................................ 8 Evidence of Site Control ............................................................................................................... 8 Preliminary Title Report ............................................................................................................... 9 Project Schedule ............................................................................................................................ 9 IV. SUPPLEMENTAL MATERIALS ................................................................................................ 9 Applicant’s Financial Statements ................................................................................................. 9 Residential Services Plan .............................................................................................................. 9 Phase I Environmental Assessment for Project Site ..................................................................... 9 Community Outreach Plan ............................................................................................................ 9 Appraisal ....................................................................................................................................... 9 IV. PROPOSAL PROCESS ............................................................................................................... 10 Proposal Submittal ...................................................................................................................... 10 Pre-Proposal Meeting.................................................................................................................. 10 Proposal Process Timeline .......................................................................................................... 11 Public Record .............................................................................................................................. 11 Right to Reject Proposals ............................................................................................................ 11 V. BACKGROUND RESOURCES .................................................................................................. 11 City of Dublin—Notice of Funding Availability – July 2020 Page 3 CITY OF DUBLIN NOTICE OF FUNDING AVAILABILITY (NOFA) REQUEST FOR PROPOSALS (RFP) I. INTRODUCTION The City of Dublin (City) is announcing a Notice of Funding Availability (NOFA) for the creation of affordable rental housing in Dublin. Approximately $10 million in funding is available to support predevelopment, acquisition and construction of affordable rental housing. The funding is intended to help fill the financing gap between a project’s total development cost and other available financing sources. The funding available through this NOFA is for capital costs only; no financing is available to fund operating subsidies or supportive services. The City may choose to recommend the project(s) selected through this NOFA for funding from Alameda County Measure A-1 Bond funds for all or part of the total amount awarded. Qualified affordable housing developers/project sponsors (Applicants) that meet the NOFA requirements and demonstrate their ability to finance, design, build and manage affordable rental housing are encouraged to submit proposals. All proposals must be received by September 18, 2020. Funding will be awarded by the City on a competitive basis to the project(s) that provide the best opportunity to address the City’s affordable housing needs. The City will request that Applicants submit additional information after initial selection. Also, the City reserves the right to suspend, amend or modify the provisions of this NOFA, to reject all proposals, to negotiate modifications of proposals, or to award less than the advertised amount of funding available. Funding Sources Funding for this NOFA will be provided from one or more of the following sources: • City Affordable Housing Fund comprised of fees paid to the City by developers to comply with the City’s Inclusionary Zoning Regulations; and • Alameda County Measure A-1 Bond funds (Dublin Base City Allocation). These funds may also be supplemented with other grant funds that the City is successful in securing to support affordable housing. Eligible Applicants Eligible Applicants include nonprofit and for-profit housing developers. Applicants must have demonstrated experience and capacity in the development and management of affordable rental housing. Applicants should have experience completing affordable rental housing projects of similar size and complexity as the proposed project. Eligible Projects and Threshold Criteria Each Applicant is permitted to submit only one project application for this NOFA. • Projects must be new construction rental developments. • Mixed-use projects (containing both residential and nonresidential space) are eligible. Generally, for mixed-use projects, the residential space should be a minimum of two- thirds of the gross square footage of the development. The non -residential component of the City of Dublin—Notice of Funding Availability – July 2020 Page 4 project must be self-supporting. • Site control as defined in Section III-6, Site Control below; • Proposed units must remain affordable for at least 55 years; • Reasonable acquisition and construction costs; the ability to compete well in securing other/competitive funding sources, including, but not limited to: County (Measure A-1 Bond funds), state and federal sources, Low-Income Housing Tax Credits (LIHTC), private equity, and be soundly underwritten; • Leverage other financing sources; • Incorporate high quality design and amenities and properly integrate with neighborhood scale, massing and setting and will be subject to a Site Development Review Permit; • Incorporate appropriate community spaces, amenities and services for the target population; • Applicant must have demonstrated experience with successful affordable housing projects, the ability to timely secure funding sources that minimizes the City’s contribution of local funds, and the capacity to work cooperatively with the community in the design and development of the project; • Target extremely low-income, very low-income, and/or low-income households earning up to a maximum of 80 percent of Area Median Income (AMI); • Projects must meet all criteria established by Alameda County Department of Housing and Community Development (HCD) to qualify for Alameda County Measure A-1 Bond funds, including providing no less than 20 percent of all units developed within the project serving households earning no more than 20 percent of AMI; • Consider a range of household/individual types, including veterans, seniors, disabled, special needs, and at risk of homelessness; and • Include supportive services appropriate for the expected tenant population as an integral component of the project. The ability to satisfy these criteria is in no manner whatsoever a guarantee of project funding, and the City reserves the right in its sole and absolute discretion to modify or waive any of these threshold requirements without further notice to proposers or potential proposers. Sites Under Consideration Separately The two sites noted below have previously been identified for affordable housing. The purpose of this current NOFA is to receive proposals for other sites which are feasible for development. • 6513 Regional Street at St. Patrick Way in Downtown Dublin – 1.3 acres • Transit Center Site D-1 at Martinelli Way and Iron Horse Parkway – +/-1 acre Review of Proposals and Project Selection Process City staff will review all proposals submitted that meet the NOFA requirements. Proposals will be evaluated based on the Applicant and Project Selection Criteria under Section II below. Proposals City of Dublin—Notice of Funding Availability – July 2020 Page 5 that receive favorable staff review will be presented to the City Council, with staff’s funding recommendation, for further consideration and for a final funding decision. Once the City Council has made a final decision, staff will begin negotiation of loan documents with the selected Applicant(s). City Financial Participation At the City’s sole discretion, and depending upon the financial need of the project and applicable project selection criteria responses, the City may generally provide a capital contribution, which may be in the form of a 55-year loan (City Loan) with an interest rate of three percent simple- interest. The selected Applicant(s) must provide adequate security for any predevelopment component of the City Loan, including but not limited to assignment of the purchase agreement and plans and specifications. Any City Loan will be secured by a promissory note and recorded trust deed (Deed of Trust) and will be conditioned upon additional security in the form of a recorded rent regulatory agreement, a notice of affordability restrictions and any additional security the City may require. City Loans may not be used to fund operating subsidies or supportive services. Any Deed of Trust for the City Loan may initially be recorded in second lien position junior to any private lender acquisition/construction trust deed, and further may be subordinated to other state or federal public agency financing if required by law. The City anticipates that the selected Applicant(s) may be required to start construction within two (2) to three (3) years from the date the Loan Agreement is executed (depending on the project details and subject to the City’s discretion) or the Applicant(s) would risk losing the City’s funding commitment. Predevelopment Loan: Depending on the schedule for the project, the City may decide to issue a preliminary predevelopment loan pursuant to a Predevelopment Loan Agreement. As security for a preliminary predevelopment loan, the selected Applicant(s) would be required to assign to the City its rights and obligations, including but not limited to, with respect to certain agreements (including purchase agreement), plans and specifications and approvals. If the project is proceeding and subsequent financing is approved, the preliminary predevelopment loan would be rolled into the subsequent City Loan. If the project proves infeasible, the preliminary predevelopment loan may be forgiven in certain circumstances, as determined by the City, and otherwise pursuant to the terms of the Predevelopment Loan Agreement. Predevelopment Costs: Predevelopment costs are upfront project costs necessary to determine project feasibility and include costs of an initial feasibility study, consulting fees, legal fees, architectural and engineering fees, soil and environmental review services, and other upfront expenses incurred during the preconstruction phase. Predevelopment costs do not include option deposits to acquire site control. Compliance Monitoring Fee The City charges an annual Compliance Monitoring Fee to cover the cost of monitoring compliance with City Agreements for the term (55 years) of the City Loan. Based on the City of Dublin adopted 2020-21 Master Fee Schedule, the annual fee is $2,058 for projects between 21 and 100 units and $2,964 for projects with 101+ units adjusted annually per the Consumer Price Index. City of Dublin—Notice of Funding Availability – July 2020 Page 6 Legal Fees Legal fees, including the cost of the City Attorney, incurred by the City during the negotiation and execution of loan documents, including both the predevelopment loan and the construction loan will be paid directly by the Applicant(s). Insurance Requirements The selected Applicant(s) will be required to comply with the City’s insurance requirements, consistent with affordable multifamily insurance standards. Comprehensive detail about the City’s insurance requirements will be provided upon request. II. EVALUATION AND SELECTION Project Selection Criteria Applicants who submit proposals that meet the requirements of this NOFA will be evaluated according to the criteria below. 1. Applicant Qualifications, Experience and Management of Affordable Rental Housing a. Experience completing affordable rental housing projects of similar size and complexity as the proposed project on time and within budget. Preference will be given to those with demonstrated knowledge; b. Positive track record for collaborative negotiations with public agencies (as demonstrated by references); c. Track record of positive cash flow and compliance with regulatory agreements, property reserves and property management standards for existing projects; and d. Quality and track record of on-site management of rental properties, including ongoing upkeep and maintenance of the property, availability of conflict resolution programs, and highly trained on-site managers that maintain a crime-free, healthy and safe environment. 2. Applicant Financial Capability and Economic Feasibility of Project a. Applicant financial strength and track record in securing the proposed financing; b. Source and amount of equity contributions and other sources of funding; c. Degree of leveraging of affordable housing funds; d. Track record in securing nine percent LIHTC, four percent LIHTC, project-based housing vouchers, or other major funding; and e. Per unit subsidy of affordable housing funding request (lower the better). 3. Public Benefit and Response to City’s Housing Priorities a. Project has housing units that address households with special needs (e.g., seniors, disabled, homeless); b. Project has supportive services and has identified funding to provide for such services; c. Applicant has proven success at gaining community support for affordable housing projects and remaining sensitive to concerns throughout operations; and d. Quality of the proposed structures. Attention to enhancing the quality of life for the future occupants and design compatibility with surrounding neighborhood. City of Dublin—Notice of Funding Availability – July 2020 Page 7 4. Site Appropriateness a. Project site has easy access to public transportation and relevant local services and amenities, such as parks, medical services, fresh foods, schools, etc.; and b. Project is consistent with the site’s General Plan and/or Specific Plan land use designation and zoning. In cases where the land use designation and/or zoning would require an amendment, applicant can demonstrate that the project warrants an amendment to land use and zoning designations and is compatible with surrounding land uses. 5. Completeness, Accuracy, and Quality of Proposal and Budget This includes an overall evaluation of the proposal itself, as evidence of the Applicant’s understanding of the project’s purpose and objectives, knowledge of the field, and ability to prepare concise reports and budgets. It also includes the completeness, accuracy and quality of an Applicant’s response to questions regarding the proposal. III. SUBMITTAL REQUIREMENTS 1. Cover Letter Provide a brief summary of the proposed project and discuss Applicant’s qualifications, why Applicant is uniquely qualified to merit the City’s investment, and why Applicant’s proposal should be selected for funding. Maximum length: two pages 2. Development Entity a. Identify the entity with the legal authority to contract directly with the City, including all joint ventures/limited partners and their percentage ownership interest (if applicable); b. Include resumes of key individuals and their roles; and c. Identify person who has the legal authority to enter into a contractual agreement with the City on behalf of the Applicant. Maximum length: five pages 3. Experience a. Provide evidence of past project experience, particularly with developing affordable housing rental projects. For at least three (3) projects include: a brief narrative description of the project, the Applicant's role, the cost of the project, amounts and sources of funds used to finance the project, the date the project was completed, financial statements for the three most recent years of each projects operations, and indicate if the project was completed on time and within budget; and b. For each of the projects identified above for experience, provide a reference with the city or agency including name, email address and phone number. Maximum length: 24 pages 4. Description of Proposed Project Concept a. Provide a written description of the proposed project, scale of development (number stories), type of construction, size, use of proposed tenants of commercial component (if applicable), occupancy restrictions, number and size of units, number of parking spaces, and type of amenities; City of Dublin—Notice of Funding Availability – July 2020 Page 8 b. Provide basic site information such as property address, Assessor’s Parcel Number, square footage, existing uses, current General Plan land use designation and zoning, and indicate if the proposed project is consistent with the existing General Plan land use designation and zoning, or if a General Plan Amendment and Rezoning are required; c. Describe the property location, neighborhood, transportations options, local services and amenities (full-service grocery store, neighborhood park, pharmacy, medical facility, schools, etc.) within close proximity to the site (include distance, e.g., ¼ mile, ½ mile); d. Provide a graphic depiction of the proposed project consisting of a preliminary site plan and conceptual architecture. Overly detailed architectural renderings or glossy material are discouraged in response to this NOFA; and e. Describe how the project will be managed. Also, provide a list of rental projects that are currently under the company’s management. Include each property’s location, number of units and number of affordable units. Maximum length: five pages 5. Financing Plan and Proforma Provide a narrative description of the proposed method of financing the proposed project including all sources of debt and equity. In the case of a proposed tax credit project, identify the assumed tax credit pricing/cents on the dollar projected in the proposed project’s sources and uses. Given the competitive nature of many of the available county, state and federal funding programs, the narrative should describe the Applicant's approach to alternative financing scenarios as a contingency to the preferred plan. The proposal should also include a complete preliminary financing proforma of the proposed project including: a. Total development cost budget, itemized for each component of the project, identifying predevelopment costs, estimates of land acquisition and site preparation costs (if applicable), direct construction costs (for each component) and all indirect and financing costs, including developer fee, construction escalation, design contingency, and construction contingency of no less than 10 percent; and b. A complete sources and uses of funds table for both construction and permanent financing for each component of the project. The table should clearly indicate the amount of requested affordable housing financial assistance and the proposed repayment terms of such assistance. Maximum length: three pages 6. Evidence of Site Control At the time of proposal submission, the Applicant must show that if the proposal is selected, site control can be maintained until the property can be acquired. As evidence of site control, one of the following documents must be submitted with the application: a. Purchase agreement, including evidence that the agreement is for a term that is sufficient to hold the property until the anticipated date of purchase; b. Option to purchase or lease, binding on seller or landlord, including evidence that options are renewable until the anticipated date of purchase; City of Dublin—Notice of Funding Availability – July 2020 Page 9 c. Executed land sales contract or other enforceable agreement for acquisition; d. Letter of Intent to purchase, signed by both buyer and seller, indicating commitment to execute purchase or option agreement pending Applicant selection by City; or e. Other evidence that Applicant has site control acceptable by the City. 7. Preliminary Title Report A preliminary title report dated within 30 days of the application deadline. 8. Project Schedule A preliminary project schedule identifying the estimated date of achieving key milestones including: securing of all financing commitments, acquisition of the site, start of construction, completion of construction, and lease-up and stabilization of residential and commercial operations (if applicable). Project schedule should start within 30 days of date the Applicant’s project is selected. IV. SUPPLEMENTAL MATERIALS – NOT REQUIRED INITIALLY Additional materials that may be required at a later date for NOFA finalists: 1. Applicant’s Financial Statements The most recent two years’ audited financial statements of the Applicant and each proposed development entity/joint venture partner, if applicable. 2. Residential Services Plan A plan that describes services to be provided to tenants (childcare, computer training, etc.) and demonstrates how supportive services for the tenant population will be provided and funded. The plan should also show funding sources. 3. Phase I Environmental Assessment for Project Site Applicants may be required to provide a copy of the completed Phase I Environment Assessment prepared by a qualified environmental firm. 4. Community Outreach Plan A plan for conducting community outreach to neighbors of the proposed project and community groups may be required. The outreach plan should discuss any anticipated community concerns and how they would be handled. 5. Appraisal An appraisal of the project site may be required that has been completed within six months of the application deadline. All appraisers must be California State licensed/certified. 6. Project Cashflow Projection Project income and project operating expenses, including rents for each unit type, vacancy rate, operating expenses, debt service, and all distributions of remaining cash flow (15-year projection with assumptions for out-year escalations). The table should clearly detail City of Dublin—Notice of Funding Availability – July 2020 Page 10 assumptions on rents for all unit types including utility allowance factors and other sources of income. 7. Mixed-Use Budget For mixed-use projects, a development budget will be required with the costs attributable to the commercial/retail or other nonresidential component clearly delineated from those for the residential component. 8. Project Sustainability Plans Plans may be requested for reduction of negative impacts on the environment through principles and practices that reduce consumption water and non-renewable energy, and minimize waste and negative impact to the environment IV. PROPOSAL PROCESS Proposal Submittal Proposals are due on Friday, September 18, 2020, by 5:00 p.m. and must include: • Hard copies: One (1) original and three (3) copies of complete proposal; and • Electronic copy: All proposal materials must also be submitted on a USB flash drive or via Dropbox. The sources and uses of the proforma, operating proforma and any other budget spread sheet must be submitted in Excel format. Deliver to City of Dublin, Community Development Department Attn.: Housing Division 100 Civic Plaza Dublin, CA 94568 HousingInfo@dublin.ca.gov Inquiries/Questions All inquiries and/or questions regarding this NOFA must be submitted no later than September 6, 2020, and directed to: Jim Bergdoll, Senior Planner, at jim.bergdoll@dublin.ca.gov or (925) 833-6610 Pre-Proposal Meeting Applicants are encouraged to attend a Pre-Proposal meeting on this NOFA: Date: August 4, 2020 Time: 3:00 p.m. Location: Due to the on-going COVID-19 health crisis, the Pre-Proposal meeting will be held via Zoom Video Communications. Please contact Jim Bergdoll at the e-mail address noted above by noon August 3, 2020, to receive a link to the meeting. City of Dublin—Notice of Funding Availability – July 2020 Page 11 Proposal Process Timeline The tentative timeline for evaluating and selecting proposals is presented below: NOFA SCHEDULE EVENT DATE NOFA Released July 17, 2020 Pre-Proposal Meeting August 4, 2020 Proposals Due September 18, 2020, 5:00 p.m. Initial Review of Proposals Completed October 9, 2020 Additional Materials Due from Finalist(s) October 30, 2020 Applicant Interviews, if necessary November 2020 City Council Consideration of Applicant Selection December 2020 Loan, Regulatory Agreements, Negotiation, Securing of A-1 Bond Funds Spring 2021 Public Record Under the California Public Records Act (PRA), ALL DOCUMENTS SUBMITTED IN RESPONSE TO THIS NOFA ARE CONSIDERED PUBLIC RECORDS AND WILL BE MADE AVAILABLE TO THE PUBLIC UPON REQUEST, unless withheld from disclosure for the City’s sole and exclusive benefit pursuant to an exception to disclosure under the PRA or other applicable law. Please do not include confidential information or information that may violate the privacy or intellectual property rights of a third party. Right to Reject Proposals The City reserves the right to reject any and all proposals for any reason, and at its sole discretion. The City reserves the right to alter the guidelines in the NOFA at any time, at its discretion. V. BACKGROUND RESOURCES 1. City of Dublin General Plan: https://dublin.ca.gov/171/General-Plan 2. Housing Element 2015-23: https://dublin.ca.gov/1516/Housing-Element 3. Eastern Dublin Specific Plan: https://dublin.ca.gov/DocumentCenter/View/7776/EDSP- 2016-Update-Full-PDF?bidId= 4. Downtown Dublin Specific Plan: https://dublin.ca.gov/DocumentCenter/View/7859/Amended_DDSP_Dec_2019?bidId= 5. Interactive GIS Portal: https://gis.dublin.ca.gov/Html5Viewer/ 6. Dublin Development Activity: https://dublin.ca.gov/174/Development-Activity 3558099.1 WEST DUBLIN BART PROJECT DESCRIPTION 1 PROJECT DESCRIPTION Provide a written description of the proposed project, scale of development (number stories), type of construction, size, use of proposed tenants of commercial component (if applicable), occupancy restrictions, number and size of units, number of parking spaces, and type of amenities; We are proposing a phased master plan on 3.7 acres adjacent to the West Dublin BART station. The initial plan includes three phases with the following attributes: Phase 1 Affordable 77 units 62 parking spaces 6 levels (1 pkg) Phase 2 Affordable 75 units 80 parking spaces 6 levels (1 pkg) Phase 3 Market Rate 182 units 304 parking spaces 7 levels (2 pkg) Total 334 units 446 parking spaces The attached conceptual site plan shows detail detailed data including the unit mix, unit sizes, and size of amenities for each building. BRIDGE has just had preliminary design work done and plans to implement some design changes that will increase financial feasibility and unit count. Affordability in Phase 1a will have a range of incomes and rents with an average affordability of 35% in order to be competitive for MHP funds from CA HCD, and also be compliant with Alameda Count A-1 funds. We anticipate a 30% set-aside for a special needs population that could include formerly homeless individuals/families and/or veterans. We will include a service enriched environment for this population to help insure their success, and will provide resident services to the entire building in order to build community and foster personal, financial and educational growth. We are open to discussing the specifics of this population with the City of Dublin to better meet local needs and housing goals. Phase 2 affordability is not yet determined, but will likely also include a similar mix of affordability. Amenities for the affordable phases will include common areas (both indoor and on the courtyard podium deck), counseling suites, recreational facilities, play areas, BBQ areas, and secure parking. Parking will be provided in the ground level garage in mechanical lifts. The site plan provides individual stoops, building lobbies, and amenities on Lane A, Entry Drive and Golden Gate Drive to help create a pedestrian streetscape and reinforce the emerging neighborhood. Private open space will be provided on the second level courtyard in each building. We propose to build a LEED Silver buildings or the equivalent Green Point Rating. All buildings will include transit reader boards in the lobbies to promote transit ridership. Market rate units in Phase 2 will include a more robust amenity package commensurate with market requirements. Provide basic site information such as property address, Assessor’s Parcel Number, WEST DUBLIN BART PROJECT DESCRIPTION 2 square footage, existing uses, current General Plan land use designation and zoning, and indicate if the proposed project is consistent with the existing General Plan land use designation and zoning, or if a General Plan Amendment and Rezoning are required; The property is located at 6501 Golden Gate Drive listed by Alameda County as parcel numbers 941-2842-4 and 941-2842-2. The site is approximately 3.77 acres and within the Downtown Dublin Zoning District and will be consistent with the Downtown Dublin Specific Plan and applicable state density bonus laws. WEST DUBLIN BART PROJECT DESCRIPTION 3 Describe the property location, neighborhood, transportations options, local services and amenities (full-service grocery store, neighborhood park, pharmacy, medical facility, schools, etc.) within close proximity to the site (include distance, e.g., ¼ mile, ½ mile); The property is located directly adjacent to the West Dublin BART station, and is one of the last remaining vacant parcels near BART. This location is the foundation to a sustainably developed mixed-income community. This location is very well positioned to WEST DUBLIN BART PROJECT DESCRIPTION 4 provide rich transportation options, and robust local and neighborhood amenities. The chart below outlines the distances to the various community amenities that residents will have close access to; a. Provide a graphic depiction of the proposed project consisting of a preliminary site plan and conceptual architecture. Overly detailed architectural renderings or glossy material are discouraged in response to this NOFA; Attached is a preliminary architectural site plan and data table describing the project phasing, unit mix, size of amenities, and proposed parking. We have not presented conceptual architecture at this early stage, but would be happy to provide some precedent images showing architectural themes, materials and details that could begin to describe proposed architecture at Golden Gate Drive. This initial site plan does provide proof of concept that the property has a carrying capacity of up to 334 apartments and associated amenities in a phased master plan that can respond to the current and future economic conditions. b. Describe how the project will be managed. Also, provide a list of rental projects that are currently under the company’s management. Include each property’s location, number of units and number of affordable units. BRIDGE formed BRIDGE Property Management Company (BPMC) in 1987 as a financially independent but affiliated nonprofit tax-exempt management company to ensure that the award- winning quality of BRIDGE’s developments would be maintained over time. Revenues from the Transporation Options Distance (walking) West Dublin Bart Station - BART Directly Adjacent West Dublin Bart Station - WHEELS Directly Adjacent Dublin Blvd & Golden Gate Dr - WHEELS 0.2m Local Services and Amentities Safeway 0.4mi Dublin Heritage Park 0.8mi Dublin Sports Grounds 1.1mi Dublin Civic Center 1.1mi Dublin Library 1.1mi Schools Neilsen Elementary 1.4mi Fairlands Elemnetary 3.7mi Valley High School 1.1mi Wells Middle School 1.4mi Healthcare CVS Pharmacy 0.6mi Kaiser- South 0.9mi WEST DUBLIN BART PROJECT DESCRIPTION 5 company, in excess of costs, are devoted to aid residents, and to provide supportive social services. BPMC currently manages and co-manages more than 9,000 residential units. BPMC also manages over 300,000 square feet of commercial space within our buildings. BRIDGE’s experience as a building owner for thirty years has provided insight into how to build efficient, sustainable buildings that can be maintained well into the future, while providing a high quality living environment for our residents. BRIDGE currently implements standards for overall site design, building envelope and systems, and unit and common area layouts and finishes, and these are continually updated with feedback from our existing building performance and resident input. Our Approach for West Dublin Bart Our management mission for West Dublin Bart will be to place special emphasis on a comprehensive management plan including: x Compliance – We employ five full-time Compliance Department staff who review and approve resident files and provide valuable ongoing training in both areas. The Compliance staff also conducts regular spot audits of all communities to ensure ongoing compliance. x Maintenance – We have extensive experience in long-term management and budgeting and with our knowledge of maintenance and operational requirements include maintenance work order systems, preventive maintenance plans and cost effective use of vendors and maintenance staff. x Marketing and Waitlist management – Our approach to marketing and rent-up utilizes a range of targeted advertising and promotional activities selected to effectively reach potentially qualified applicants. In addition, we develop community based outreach programs in an effort to attract qualified potential tenants. x Accounting and financial reporting – We use MRI software for on and offsite accounting. We provide owners monthly accounting reports and operating budgets drafted sixty days prior to the end of the fiscal year. The accounting system for our portfolio meets all generally accepted accounting principles. x Resident Services – We have invested a great deal in gaining expertise in this kind of community building. In many locations, our staff works closely with local governmental and community-based agencies to coordinate or enhance provision of these services for residents. The company’s management style is flexible in order to meet the needs of the resident at the property including meeting with the residents to understand their needs and supporting resident organizations to help empower them to be an integral part of their community. Property Location Type Units Property Management Contract Asset Management Only 25 Sanchez, Mission San Francisco Senior 90 90 WEST DUBLIN BART PROJECT DESCRIPTION 6 255 Woodside, Mission San Francisco Senior 110 110 462 Duboce, Mission San Francisco Senior 42 42 474 Natoma Apartments San Francisco Family 60 60 Acorn I and II Oakland Family 206 206 Acorn III Oakland Family 87 87 Almaden Lake Apartments San Jose Family 144 144 Alta Torre Palo Alto Senior 56 56 Alto Station Mill Valley Family 17 17 Armstrong Place Senior Housing San Francisco Senior 116 116 Arroyo Point Santa Rosa Family 70 70 AveVista Oakland Family 68 68 Belvedere Place San Rafael Family 26 26 Casa Vista San Rafael Family 40 40 Celadon at 9th & Broadway 4% San Diego Family 121 121 Celadon at 9th & Broadway 9% San Diego SRO 129 129 Centertown San Rafael Family 60 60 Chelsea Gardens Santa Rosa Family and Senior 120 120 Chestnut Creek South San Francisco Senior 40 40 Chestnut Linden Court Oakland Family 151 151 Coggins Square Walnut Creek Family 87 87 Coleridge Park San Francisco Senior 49 49 Copper Creek 4% San Marcos Family 156 156 Copper Creek 9% San Marcos Family 48 48 Coronado Springs Seattle Family 332 332 Cottonwood Creek Suisun City Family 94 94 Doretha Mitchell Marin City Family 30 30 Dove Canyon San Diego Family 120 120 Emery Villa Emeryville Senior 50 50 Fell Street Apartments San Francisco Family 82 82 Foothill Farms Sacramento Senior 138 138 Geraldine Johnson San Francisco Senior 54 54 Grand Oak South San Francisco Family 43 43 Grayson Creek Pleasant Hill Family 70 70 Heritage Park Livermore Family 167 Holly Courts, Bernal San Francisco Family 118 118 Hunt's Grove St. Helena Family 56 56 Ironhorse at Central Station Oakland Family 99 99 WEST DUBLIN BART PROJECT DESCRIPTION 7 Irvington Terrace Fremont Family 100 100 Ivy at College Park Chino Family 135 135 Kentfield Stockton Family 90 90 La Pradera Calistoga Family 48 48 Laguna Canyon Irvine Family 120 120 Mabuhay Court San Jose Senior 96 96 Madera Vista Phase 1 & 2 Temecula Family 80 80 Magnolia Plaza South San Francisco Senior 125 125 Mandela Gateway Apartments Oakland Family 168 168 Marina Tower Annex Vallejo Senior 57 57 Marina Tower Apartments Vallejo Senior 155 155 Metro Center Foster City Senior 60 60 Montevista Apartments Milpitas Mixed Income Family 306 306 Mural Apartments Oakland Family 90 90 North Beach Place San Francisco Family and Senior 341 341 Northpoint Village Apartments I Santa Rosa Family 70 70 Northpoint Village Apartments II Santa Rosa Family 40 40 Oak Circle San Jose Senior 100 100 Ocean View Pacifica Senior 100 100 Ohlone Court San Jose Family 135 135 One Church Street San Francisco Family 93 93 Pacific Oaks Pacifica Senior 104 104 Paseo at COMM22 San Diego Family 130 130 Peninsula Park E. Palo Alto Mixed Income Family 129 129 Pickleweed Mill Valley Family 32 32 Pinole Grove Senior Housing Pinole Senior 70 70 Poinsettia Station Carlsbad Family 92 92 Pottery Court Lake Elsinore Family 113 113 Redwood Shores Vallejo Senior 120 120 Richmond City Center Apartments Richmond Family 64 64 Rotary Valley San Rafael Senior 80 80 Sage Canyon San Marcos Family 72 72 Sage Park Los Angeles Family 90 90 San Paulo Apartments Irvine Mixed Income Family 382 382 San Rafael Commons San Rafael Senior 83 83 WEST DUBLIN BART PROJECT DESCRIPTION 8 Santa Alicia Irvine Family 84 84 Silverado Creek Napa Family 102 102 Sitka Portland Mixed Income Family 209 209 St. Joseph's Senior Apartments Oakland Senior 84 84 Steamboat Point Apartments San Francisco Family 108 108 Strobridge Court Castro Valley Family and Senior 96 96 Susanne B. Wilson Residence San Jose Family 63 63 Sycamore Place Danville Senior 74 74 Terra Cotta San Marcos Family 168 168 Terraza Palmera at St. Joseph's Oakland Family 62 62 The Abigail Portland Mixed Income Family 155 155 The Arbors Hercules Senior 60 60 The Carquinez Richmond Senior 36 36 The Coronet San Francisco Senior 150 150 The Fountains Mountain View Family 124 124 The Parkview Pleasanton Senior 105 105 The Peninsula Regent San Mateo Supportive 207 207 The Rivermark West Sacramento Family 70 70 Torrey Del Mar San Diego Family 112 112 Tressa Apartments Seattle Family 474 474 Trestle Glen Colma Family 119 119 Victoria at COMM22 San Diego Senior 70 70 Villa Loma Apartments Carlsbad Family 344 344 Visitacion Gardens Brisbane Senior 14 14 Windrow Irvine Family 96 96 Woodbury Walk Irvine Family 150 150 Woodland Park Portland Family and Senior 111 111 Woods Grove Pittsburg Family 80 80 TOTAL 11,143 8,351 2,625 Architecture + Planning580 Second St., Suite 200Oakland, CA 94607510.272.2910ktgy.comDUBLIN, CA # 2020-0854GOLDEN GATE BARTCONCEPTUAL DESIGNOCTOBER 8, 2020A0.0PROJECT DATA0163264 LobbyLobbyLobbyGarage EntryTrash/BOHGolden Gate DrLane AAHammer39 2LP Stacks +2 Accessible Stalls(80 parking spots)""AmenityUtility""Lane ArhA-Architecture + Planning580 Second St., Suite 200Oakland, CA 94607510.272.2910ktgy.comDUBLIN, CA # 2020-0854GOLDEN GATE BARTCONCEPTUAL DESIGNOCTOBER 8, 2020A0.1SITE PARCEL DIVISIONSNTSLobby30 2LP Stacks +2 Accessible Stalls(62 parking spots)Garage EntryEntA54'-10'-0"0-15'-0"Trash/BOHP3-2P3-2AmenityA-LobbyGarage Level 1Entry46 2LP Stacks + 39 3LP Stacks +ks + 395 Accessible StallstallsTotal 214 Parking SpotsUPUtilityry DrLane Ahead Dr-0"10'-0"-0'-001Trash/BOHsh/BOP1-3P1-3P2-4P2-4enity/enitAmenenve Useve ActiveveUtilityP1-3P1-3P1-3PPP2-410'-00Lane Ah-A-Parcel Phase 1-AArea: 37,005 sf(0.85 acres)Parcel Phase 1-BArea: 37,604 sf(0.86 acres)Parcel Phase 2Area: 82,548 sf(1.89 acres) LobbbbybbbbLobbyLobby30 2LP Stacks +2 Accessible Stalls(62 pa(62 parking spots)(62 paGarage Level 1Entry46 2LP Stacks + 39 3LP Stacks +ks + 395 Accessib5 Accessib5 Accessible Stallstalls5 Accessib5 AccessibpotsTotal 214 Parking SpotspotspotspotsUPGarage ntryEnnnGarage EntryUtilitytilitysh/BOTrash/BOsh/BOHsh/BOsh/BOGolden Gate DrDEntry DrDDDLane ALane ALane ALane AHHHaHaHammerhead DHammerhe dmmerhead DHammerhe dHammerhe dHammerhead Drmmerhead D39 2LP Stacks +ccessiblccessible Stalls2 Accessiblccessiblccessiblots)ots)(80 parking spots)ots)ots)544'-0"440"0----------------''''000000000000000001111111----------0"----------------''''''0'0'000000000001111----------15' 0"15' 0"15' 0"15' 0"15 015' 0"15' 0"15' 0"15-015 015 015 015 015 015 015 015 015 015 015 0""0-00'-00-00-00-000000000000000000111111111sh/BTrash/Bsh/BOHsh/BOsh/Bsh/BTrasTrash/BOHTrasTrasTrasP3-2P3-23P1-33P1-3P2-4P2P2P2-4memenityAmemememeAmemenitymemeAAAenity/enitAmenenAAcccve Useve ctivevecUtilityyyyUtilitUtilitUtilitUtilityUtilitP1-3P1-3333P1-3PPPP2-4PP"10' 010' 010' 010' 010' 010 010' 010 010 010 010' 010-010-010-010-010-010 010 010-010 010 010 010-010 010 0"0000000000000Architecture + Planning580 Second St., Suite 200Oakland, CA 94607510.272.2910ktgy.comDUBLIN, CA # 2020-0854GOLDEN GATE BARTCONCEPTUAL DESIGNOCTOBER 8, 2020A1.0SITE PLAN0163264 90 Parking SpotsDNOpen toOeeBelowBlleOpen toOpen toOpen toOpen tonnnneeeeBelowBelowelowwP2-44P1-3P2-4P2P2-4P1-3PP1-3P1-3P2-4-P1-3UtilitlitylitlitP0-1P3-0P1-0P0-1P0-1P0-1P3-1P2-0P3-0P1-1P1-1P1 1P1-0P1-P2-0P2-0P2-0P2-121P3-0P3 0P3 0P3 0P3 0P3-1P2-1P0-101P3-0P3-0P3-1P3-0P3P2-0P1-1P1-1P0 1P0 1P0-1P0 1P0-1P0 1P0 1P0-1P0-1P1-00P2-0P2-0AffordableBuilding 1-ACourtyardCoAffordableBuilding 1-BCouCourtyardCouCouArchitecture + Planning580 Second St., Suite 200Oakland, CA 94607510.272.2910ktgy.comDUBLIN, CA # 2020-0854GOLDEN GATE BARTCONCEPTUAL DESIGNOCTOBER 8, 2020A1.1LEVEL 2 PLAN0163264AFFORDABLE PHASE 1-AAFFORDABLE PHASE 1-BMARKET RATE PHASE 2 P3-0P1-0P0-1P0-1P0-1P3-1P2-0P3-0P1-1P1-1P1 1P1-0P1-P2-0P2-0P2-0P2-121P3-0P3 0P3 0P3 0P3 0P3-1P2-1P0-101P3-0P3-0P3-1P3-0P3P2-0P1-1P1-1P0 1P0 1P0-1P0 1P0-1P0 1P0 1P0-1P0-1P1-00P2-0P2-0P2-0P2 0P2 0P2 0P2-0202020P2-0P0-1P0-1-1P0-1P0-1P1-0P1-0P1-0P1-0P1 0P1 0P1-0P1 0P1-0P0-1P1-0P1-0P1 0P1 0P1-0P1-0P3-1P2-0P1-010P2-2P1-1P2-2P2 2P2 2P1-111P2-2P1-1P1-1Market RateMarkeCourtyard AdAP1 1P1 1P1-1P1 1P1 1P1 1P1-1P1-1P1-1P1-1P1-1P1-1P1 1P1 1P1 1P0-1P0-1Level 3evAmenityenMaMarket RateMaMaCourtyard Byard Byard Byard BAffordableBuilding 1-ACourtyardCoAffordableBuilding 1-BCouCourtyardCouCouArchitecture + Planning580 Second St., Suite 200Oakland, CA 94607510.272.2910ktgy.comDUBLIN, CA # 2020-0854GOLDEN GATE BARTCONCEPTUAL DESIGNOCTOBER 8, 2020A1.2TYPICAL BUILDING PLAN0163264AFFORDABLE PHASE 1-AAFFORDABLE PHASE 1-BMARKET RATE PHASE 2 Eden Housing 4. Preliminary Development Concept Eden takes great pride in creating unique developments that are authentic to the communities in which we operate. This community will be no different. The proposal below outlines our initial thoughts and vision to create an affordable community that will compliment and support this transit- oriented neighborhood in Downtown Dublin. A. Property Overview x AAddress: 7922 Dublin Boulevard x APN: 941-1500-28-2 x Size:63,540 SF x Current land use: Commercial building x Located within the Downtown Dublin Specific Plan and West Downton BART Specific Plan sub- area x General Plan Land Use Designation & Zoning: Downtown Dublin Specific Plan, Transit-Oriented District x Amenities: o Grocery store: Safeway, 7499 Dublin Blvd, Dublin, CA 94568 [½ mile] o Park: Mape Memorial Park, 11711 Mape Way, Dublin, CA 94568 [½ mile] o Pharmacy: CVS, 7201 Regional St, Dublin, CA 94568 [¼ mile] o Medical facility: Kaiser Pleasanton, 7601 Stoneridge Dr, Pleasanton, CA 94588 [1 mile] o Schools: Valley High School, 6901 York Dr, Dublin, CA 94568 [1 mile] o Transit: West Dublin BART [[½ mile] 21 Eden Housing B. Proposed Project Overview – Building Type, Height and Parking For this site, we envision a five-story building with one level of parking and four stories of housing on top. Using a conceptual building plan that creates two U-shaped buildings with private courtyards that open to the east, our initial analysis indicates that we could fit approximately 121 units. This design allows for 126 parking spaces, for a ratio just over 1 space per unit and in-line with parking ratios allowed under the State Density Bonus Law. However, if additional parking is desired, we could look at add parking lifts or stackers, a solution that Eden is constructing now in a project in Fremont. The first level, or podium level would be concrete construction with the upper floors constructed in wood (Type V). Note that it would be possible to add another floor of wood construction if we use Type IIIA and that would result in 154 units – however, given parking constraints, we have decided to focus our proposal on the 121 unit scenario but are open to further exploring increased density with the City and our design team. The project will include high quality amenities that are standard at Eden properties -- community rooms, computer learning centers, and well-appointed common outdoor podium courtyards. Anticipated Unit Affordability Mix & Tenant Population Eden has designed the affordable component to meet a “Large Family” project type under TCAC’s regulations in order to ensure maximum flexibility and competitiveness for various State programs. This essentially means that the development has the required number of three- and two-bedroom units (at least 25% of each). The conceptual unit mix is as follows: UUnit Type NNumber %% of total Studio 29 24% 1 bedroom 29 24% 2 bedroom 30 25% 3 bedroom 33 27% TTotal 1121 1100% The funding sources that we secure will ultimately inform the specific affordability levels of the project, but Eden anticipates delivering a mix of affordability levels as shown below. 22 Eden Housing AAMI level NNumber 20% AMI 5 45% AMI 27 50% AMI 64 60% AMI 24 Manager 1 TTotal 1121 Eden has not yet identified any specific tenant population, such as veterans, homeless, developmentally disabled, or other kind of special needs population. We would be happy to discuss possible tenant targeting with the City. Our assumed funding programs have no specific occupancy restrictions, and Eden would be happy to explore a live/work preference for Dublin residents/workers if desired. Management & Resident Services Eden Housing Management Inc. (EHMI) would provide property management services for the site, and Eden Housing Resident Services Inc. would provide on-site resident services. A list of all properties managed by EHMI is included as AAttachment C. Site Plans The diagrams below are rough site fit tests showing the possible configuration of parking and units on each floor. However, if selected, we would work with a design team to craft a tailored design for the site. These are meant to show proof of concept rather than final designs. The proposed concept is consistent with the General Plan and Zoning. Level 1 – Ground Floor Parking 23 Eden Housing Level 2 – Amenities & Residential Level 3-5 – Residential 24 Affordable Rental Housing Funding Proposal City Council Meeting November 17, 2020 Background Notice of Funding Availability (NOFA) issued in July 2020 for creation of affordable rental housing Approx. $10 million available for predevelopment, acquisition and construction Funds allocated from City’s Affordable Housing Fund and Alameda County A-1 Bond funds Proposals received from BRIDGE and Eden for projects within Downtown Dublin Specific Plan area BRIDGE Proposal •Multi-phase project on vacant 3.6- acre BART-owned property adjacent to West Dublin BART station •A total 334 units of which 77 units (Phase 1A) are the subject of NOFA proposal •Average affordability level 35% AMI •30% of Phase1A (23 units) would be set aside for special needs populations •BRIDGE is requesting $8.5 million in financial assistance, or $110,390 per unit BRIDGE Proposal •Overall residential density of 93 units/acre, exceeding 85 units/acre allowed under DDSP •To achieve this density and allow parking reduction, proposal would rely on State Density Bonus Law •State Density Bonus Law provides incentives to developers for production of affordable housing •Projects that provide 11% of overall density as very low-income units are entitled to density bonus of 35% BRIDGE Proposal No. Units Unit Type Level of Affordability Parking Ratio No. Levels Phase 1A 77 Affordable (except manager’s unit) 35% AMI average 0.8 spaces/unit (62 spaces) 6 (1 parking) Phase 1B 75 Affordable TBD 1.06 spaces/units (80 spaces) 6 (1 parking) Phase 2 182 Market Rate NA 1.67 spaces/unit ( 304 spaces) 7 (2 parking levels) Total 334 1.33 spaces/unit (446 spaces) Eden Proposal •Project proposes 121 units on 1.45 acres currently occupied by Video Only •Average affordability level 49% AMI •Density of 83 units/acre in compliance with DDSP Eden Proposal •DDSP requires ground floor retail along Dublin Boulevard which was not incorporated into Eden proposal •Project would likely take advantage of parking reductions and/or concessions allowed under State Density Bonus Law •Eden is requesting $8 million in financial assistance, or $66,116 per unit Eden Proposal No. Units Unit Type Level of Affordability Parking Ratio No. Levels One Phase 121 Affordable (except manager’s unit) 49% AMI average 1.04 spaces/ unit (126 spaces) 5 (1 level parking) Evaluation of Proposals BRIDGE and Eden: Have exemplary experience completing affordable housing projects Proven track records collaborating with public agencies Extensive experience with institutional and private financing Both proposals meet minimum NOFA requirements Preliminary Recommendation •Staff preliminarily recommends City Council appropriate funds to BRIDGE proposal •Key points: –Phase 1A would include deep affordability levels serving households earning an average of 35% AMI –30% of Phase 1A set aside for special needs populations including formerly homeless and/or veterans –Phase 1B would include 75 additional affordable units, increasing the overall affordability of multi-phase project to 45% Preliminary Recommendation •Key points: –If averaged across Phases 1A and 1B, City’s financial assistance would be $55,921 per unit –Project site has immediate access to BART and bus service as well as nearby shopping and services –Shared parking opportunity with 750-space BART parking garage –BRIDGE proposes to design, construct and maintain a plaza where the BART pedestrian overcrossing lands –If desired, BRIDGE could accommodate a small retail component to serve residents and commuters Next Steps •If City Council concurs, Staff will continue to work with BRIDGE to refine proposal •Return to City Council with formal recommendation and requests to: –Authorize City Manager to enter into agreement with BRIDGE –Allocate units from DDSP residential pool •Future entitlements include SDR Permit and Tentative Parcel Map Questions