Agenda

Return

C.110

To:	Board of Supervisors
From:	Maureen Toms, Oversight Board Secretary
Date:	January 5, 2021

Contra

Costa

County

Subject:

Option Agreement for the Sale of a Housing Successor Property, Rodeo

APPROVE	OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR	RECOMMENDATION OF BOARD COMMITTEE

Action of Board On: 01/05/2021

APPROVED AS RECOMMENDED

OTHER

Clerks Notes:

VOTE OF SUPERVISORS

AYE:

John Gioia, District I Supervisor
Candace Andersen, District II Supervisor
Diane Burgis, District III Supervisor
Karen Mitchoff, District IV Supervisor
Federal D. Glover, District V Supervisor

Contact:

Maureen Toms, 925-674-7878

I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the Board of Supervisors on the date shown.
ATTESTED: January 5, 2021
Monica Nino, County Administrator

BY:	, Deputy

RECOMMENDATION(S):

APPROVE and AUTHORIZE the Conservation and Development Director to execute an Option to Purchase Agreement that gives EAH, Inc., a non-profit housing developer, the option to purchase from the County real property located at 710 Willow Avenue in Rodeo (Assessor's Parcel No. 357-120-074) for $980,000, with an option term through November 1, 2021.

FISCAL IMPACT:

There is no negative impact on the General Fund. If the option is exercised, proceeds from the sale will be deposited into the Housing Successor Fund.

BACKGROUND:

Contra Costa County, in its capacity as housing successor to the Contra Costa County Redevelopment Agency (County) pursuant to Health and Safety Code Section 34176, owns certain real property located at 710 Willow Avenue in Rodeo. The subject site is a 0.98-acre portion of a 2.07-acre property that was acquired by the Contra Costa County Redevelopment Agency on March 5, 1998. The property was subsequently subdivided (MS98-00018) into two parcels to provide fifty affordable senior housing units on the northern parcel. The subject site is the undeveloped parcel south of the senior housing project and is on the Housing Asset Transfer list developed by the County and approved by the Department of Finance following the dissolution of Redevelopment.

EAH, Inc. (EAH) is the non-profit developer that developed and manages the existing 50-unit senior project on the northern portion of the parcel, adjacent to the subject site. EAH is proposing to develop the subject site with approximately 67 affordable senior housing units. Staff is also exploring the inclusion of a senior center space on the site. Relocating the Rodeo Senior Center to this site would free up the existing County-owned site which houses the current senior center for disposition and/or development. These details would be determined through a subsequent Disposition and Development Agreement for the subject site.

The County entered into an Exclusive Negotiation Agreement with EAH on December 4, 2018. The parties will also negotiate all terms and conditions of a Disposition and Development Agreement (DDA) pursuant to the Exclusive Negotiation Agreement. The DDA is subject to approval by the Board of Supervisors. The Option to Purchase Agreement will provide the developer with additional site control, enabling EAH to apply for financing while the DDA is being finalized. The Option to Purchase Agreement includes requirements for the Optionee to obtain entitlements for the development, secure financing, enter into a construction contract, and comply with environmental reviews.

Because the property is a housing asset of the former Redevelopment Agency, its disposition is governed by the County, in its capacity as housing successor, and subject to the requirements of Health and Safety Code section 34176.

CONSEQUENCE OF NEGATIVE ACTION:

If the Option to Purchase Agreement is not approved, the financing of the proposed project could be delayed until after a DDA is negotiated and approved.