...Title
Exclusive Negotiation Agreement and Right of Entry with LH Housing for the Development of Affordable Housing at 71 Vista Montana.
...Recommendations
Adopt a resolution authorizing the Housing Director, or his designee, to negotiate and execute a:
(a) Two-year Exclusive Negotiation Agreement with the possibility of two six-month extensions, at the City’s discretion, and any ancillary documents with LH Housing or its affiliates for the final proposal of an affordable housing development project on the 71 Vista Montana property;
(b) Right of Entry Agreement with LH Housing or its affiliates to allow access to the 71 Vista Montana property to conduct the due diligence necessary to satisfy the milestones to be set forth in the Exclusive Negotiation Agreement; and
(c) Two-year Exclusive Negotiation Agreement with the possibility of two six-month extensions, at the City’s discretion, and any other ancillary documents, including a Right-of-Entry Agreement with the second highest scoring applicant, Propertyworx LLC or its affiliates for the final proposal of an affordable housing development project on the 71 Vista Montana property, if LH Housing is unable to successfully execute an agreement with the City or does not comply in a timely and diligent manner with any material obligation under the Exclusive Negotiation Agreement.
CEQA: Not a Project, File No. PP17-003, Agreements/Contracts (New or Amended) resulting in no physical changes to the environment. Council District 4. (Housing)