9.5 20-0028 Subject: City Center T5/T6 Site B - First DDA Amendment
From: Economic Workforce Development
Recommendation: Conduct A Public Hearing And Upon Approval Adopt An Ordinance To Authorize A First Amendment To The Disposition And Development Agreement And Related Documents Between The City Of Oakland And STRADA T5 LLC For Disposition Of The City Center T-5/6 Site B Located On The Block Bounded By Broadway, 11th Street, 12th Street And Clay Street To (1) Terminate The City's Obligations To Convey Site B Under The Current DDA; (2) Allow Developer The Option To Pursue A Hotel Project On Site B; (3) Authorize The City Administrator To Allow Developer To Pursue Entitlements For An Alternate Project, Subject To A Determination Of Hotel Infeasibility By The City Administrator; (4) Establish A New Outside Entitlement Date And Related Performance Deadlines For Site B; (5) Require An Extension Fee; And (6) Amend Other Terms Of The DDA As Needed To Effectuate The Foregoing
Please do not authorize a first amendment to the DDA between the City and STRADA T5 LLC. Although a school building is far preferable to a hotel, this is an opportunity for the City to put its money where its mouth is and ensure that some actual affordable housing is built on City-owned surplus land.
Please do not authorize a first amendment to the DDA between the City and STRADA T5 LLC. Although a school building is far preferable to a hotel, this is an opportunity for the City to put its money where its mouth is and ensure that some actual affordable housing is built on City-owned surplus land.