Title
Report regarding adoption of an Ordinance approving the First Major Amendment to the Development Agreement for 1051 Mission Road (known as the "PUC Site") to revise the economic terms, to provide support for the affordable housing portions of the project, and extend the term of the Development Agreement, and a determination that the amendments are consistent with the General Plan and with previously adopted environmental documentation. (Nell Selander, Director of Economic and Community Development)
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RECOMMENDATION
Staff recommends that the City Council waive reading and adopt an Ordinance approving the First Amendment to the Development Agreement Amendment (DAA26-0002) between the City of South San Francisco and SSF PUC Housing Partners, LLC in accordance with the South San Francisco Municipal Code that will:
a) Add flexibility to how impact and offsite improvement fees may be spent, in order to invest them in the affordable housing component of the 1051 Mission project if needed based on other financing sources that are secured;
b) Waive applicable impact fees for the affordable housing component of the project if needed based on other financing sources that are secured;
c) Affirm prevailing wage is required for any portion of the construction work when required by State law;
d) Require a Project Labor Agreement for all site work funded by the City's Infill Infrastructure Grant award, totaling approximately $20 million in infrastructure work;
e) Require profit participation for the City in the smaller market rate building in an amount not to exceed the greater of $2 million or the City's further investment in the affordable housing building;
f) Extend the term of the Development Agreement to December 31, 2032;
g) Determine that the amendments are consistent with the General Plan; and
h) Determine that the amendments will not alter the project's scope and remain consistent with previously adopted environmental review.
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BACKGROUND/DISCUSSION
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