TITLE
Recommendation to authorize City Manager, or designee, to execute all documents necessary to enter into an Exclusive Negotiation Agreement (ENA) with Century Affordable Development Inc., of LongBeach, CA, to commence negotiations in connection with the disposition and development of City-owned Exempt Surplus property at 6845 Atlantic Avenue (Subject Property). (District 9)
DISCUSSION
The City of Long Beach is currently fee owner of property located at 6845 Atlantic Avenue (Subject Property) (Attachment). The Subject Property consists of approximately 97,282 square feet and is improved with a former liquor storefront, a warehouse, and the Atlantic Bridge Community, which is operated through the City of Long Beach’s (City) Health and Human Services Department to house people experiencing homelessness (ABC Shelter). The City was approached by the adjacent property owner, Century Affordable Development Inc., of Long Beach, CA (Developer), who has proposed combining the Subject Property with their adjacent property for the development of a large affordable housing/homeless services campus, including the continued operation of the ABC Shelter. As the proposal furthers the development of affordable housing units, City staff recommends that the City enter into an Exclusive Negotiation period with the Developer to determine whether the proposal can be made viable, which will include public visioning meetings in which both the Developer and City will participate in. Should the City and Developer negotiate the terms and conditions of an agreement, a separate action will be placed on a future City Council agenda for consideration.
To allow the City and Developer to move forward with the determination of the proposal’s viability, the following are proposed terms and conditions of the ENA:
· Developer: Century Affordable Development Inc., a nonprofit public benefit California corporation.
· Exclusive Negotiating Period: The Exclusive Negotiating Period shall b...
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