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Discussion Item: MOU with Alaska Pacific Development Group for Tax Credit Affordable Housing Project
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SUBMITTED BY: Lisa Von Bargen, Community & Economic Development Director
FISCAL NOTES:
Expenditure Required: N/A
Unencumbered Balance: N/A
Funding Source: N/A
RECOMMENDATION:
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None. Discussion item only.
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SUMMARY STATEMENT:
The City Council held a work session with Mark Lewis of (then Pacific Development Group) Alaska Pacific Development Group at the second meeting in September. The result of the work session was Administration working with APDG to develop an MOU for a proposed project and bring it back to the Council for consideration. That MOU has gone through several iterations and is now ready for Council review. If a project moves forward the MOU assigns responsibility to the City for the following:
* Providing land for the project (approximately 2 acres)
* Public infrastructure (water, sewer, all right-of way improvements like streets
* Utility infrastructure (electric, phone, internet, cable)
* Assistance developing tax credit application
* Assistance securing funding package (perhaps including a financial contribution)
A copy of the MOU is attached for Council review and discussion.
The suggestion has been made that the City should be going to the marketplace with an RFP for housing development services, rather than just entering into an agreement with APDG. This would allow the City to understand the level of interest in a project or projects in Valdez. And, making the environment competitive may result in a project more advantageous to the community and the City. Staff was unable to get a draft RFP ready in time for inclusion in the packet. At this time the idea is being offered up for Council consideration and discussion. If the Council determines an RFP is the right direction going forward, staff will have one available for review at the next Council meeting.
Please keep in mind the timeframe to move forward wi...
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