On April 5, 2011, the former Contra Costa County Redevelopment Agency entered into a Predevelopment Loan Agreement with Community Housing Development Corporation of North Richmond (CHDC) for Phase II of the North Richmond Town Center Project. The Phase I was completed several years ago and includes the award winning Heritage Senior Apartments, North Richmond Health Center, County Service Integration Team and streetscape improvements along Fred Jackson Way between Chesley Avenue and Grove Street. Phase II is on the eastern side of Fred Jackson Way, directly across the street from Phase I. It encompasses six parcels and is referred to as Heritage Point. The site is flat and, in March 2009, was occupied by a mix of residential single & multi-family housing, blighted under-performing commercial outlets, a vacant office/community building, and a vacant lot previously occupied by an auto body repair shop. The former Redevelopment Agency acquired the parcels, demolished existing structures, and relocated affected residents. Upon dissolution of the former Redevelopment Agency, the property and the Loan Agreement were transferred to the County acting as the Housing Successor to the former Redevelopment Agency. Funding for the Predevelopment Loan Agreement was transferred to the Successor Agency.
The purpose of the Predevelopment Loan Agreement is to: 1) fully define the project; 2) determine project feasibility; 3) identify infrastructure needs; 4) perform studies to inform a project level environmental review process; 5) initiate land use entitlement proceedings; and 6) designate CHDC as Master Developer. If a project is feasible, this Agreement will provide market studies, project administration, conceptual site documents, design concepts, land use applications, a financing plan, and input from the North Richmond community on what residents would like to see incorporated into Heritage Point.
The term of this Predevelopment Agreement terminates on December 31, 2012. The Successor Agency must extend the Agreement's term so that it remains an enforceable obligation of the Successor Agency.
Without an extension of the term of thePredevelopment Agreement, the Housing Successor (Contra Costa County) would be unable to proceed with the development of Heritage Point and would not know its potential for completing the North Richmond Town Center Project.