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Home My Public Portal AboutWhitepaper - Kibler PropertyKibler Property Common Name Kibler Property APN 098-0289-002-01 Address 2139 Railroad Avenue Funding Source  City Affordable Housing Fees (F611) Type of Transaction Loan from City to former-RDA Principal Amount Expended $1,364,763.00 Use of Funds  Property Acquisition  Relocation Costs  Closing costs  Operating costs City, RDA, and LSA Staff Reports May 11, 2009 – Authorizing a Cooperation and Repayment Agreement for the City to loan the former-RDA up to $1,370,000 in Affordable Housing Fees to purchase the property as part of the land assembly for the Livermore Village Project. (Resolutions 2009- 086 and RA 2009-011) March 22, 2011 – Authorizing transfer of the property from the former-RDA to the City as an affordable housing property because the City loaned Affordable Housing Fees to the former-RDA to acquire the property to create affordable housing opportunities. (Resolutions 2011-041 and RA 2011-05) March 28, 2011 – Ratifying actions taken on March 22, 2011 to authorize the transfer of the property from the former-RDA to the City as an affordable housing property because the City loaned Affordable Housing Fees to the former-RDA to acquire the property to create affordable housing opportunities. (Resolutions 2011-47 and RA 2011-07) January 9, 2012 – City elects to become the successor to the former-RDA’s housing assets and functions. (Resolution 2012-06) Oversight Board Staff Reports May 16, 2012 – Oversight Board approves transfer of the property from the former-RDA to the City as housing asset. Revenue from disposition of the property was directed to be deposited in Fund 611 to develop affordable housing opportunities. October 17, 2012 – Oversight Board confirms its approval on May 16, 2012 to transfer the property from the former-RDA to the City as a housing asset. (Resolution OB-003) June 5, 2013 – Oversight Board confirms its approval for the transfer of the property from the former-RDA to the City as a housing asset for use in the development of affordable housing; and approving the Livermore Successor Agency’s Housing Asset Transfer Report filed with the California Department of Finance on August 1, 2013, to transfer the property to the City as a housing asset for use in the development of affordable housing. (Resolution OB-008) December 16, 2015 – Oversight Board approves final adjustments to the Livermore Successor Agency’s Long Range Property that do not change the use for this property. (Resolution OB-033) Kibler Property City, RDA, and LSA Staff Reports (cont.) September 23, 2013 – Livermore Successor Agency approves Long Range Property Management Plan to use the property to expand affordable housing and to develop the property into affordable rental housing. (Resolution LSA 2013-02) December 14, 2015 – Livermore Successor Agency approves final adjustments to its Long Range Property Management Plan to use the property to expand affordable housing and to develop the property into affordable rental housing. (Resolution LSA 2015-02) City Resolutions 2009-086 2011-041 2011-047 2012-06 RDA Resolutions RA 2009-011 RA 2011-05 RA 2011-07 LSA Resolutions LSA 2013-02 LSA 2015-02 Oversight Board Resolutions OB-003 OB-008 OB-033 Agreements May 11, 2009 Cooperation and Repayment Agreement May 11, 2009 Purchase and Sale Agreement and Full Settlement and Release March 22, 2011 Property Conveyance Agreement Other Documents July 31, 2012 Department of Finance Housing Assets List (aka Housing Assets Transfer Form) August 31, 2012 Department of Finance Determination letter re: Housing Assets Transfer Form February 24, 2014 Secretary of State, No Further Action Letter on housing asset transfer December 28, 2015 Department of Finance Approval of the Long Range Property Management Plan “Pursuant to [California Health & Safety Code] section 34191.3(a) the approved [Long Range Property Management] Plan shall govern, and supersede all other provisions relating to, the disposition and use of the real property assets of the former redevelopment agency.” Note: On July 26, 2010, the former-RDA entered into an Exclusive Negotiating Rights Agreement (ENRA) with Eden Housing Inc., a California nonprofit public benefit corporation, to assemble it with the Harris property and another parcel on the south side of First Street to develop the properties into two model mixed-use retail and affordable residential projects. The ENRA was extended for two additional time periods, but ultimately expired on May 31, 2012. That project was not realized. On September 11, 2011, the City appropriated $520,000 of Local Housing Trust Funds from the California Department of Housing and Community Development to transfer those funds from the Local Housing Trust Fund (Fund 638) to the City Housing Trust Fund (Fund 611) to help Eden Housing Inc. to develop the sites into a mixed use affordable housing and commercial project. That project would have satisfied the project requirements and demonstrate the necessary 2-to-1 match for the grant. That project was not realized and the Local Housing Trust Funds (Fund 638) were not transferred to the City Housing Trust Fund (Fund 611). Kibler Property EXCERPTS REFLECTING PROPOSED USE Initial Proposed Use – Time of Acquisition (May 11, 2009) “The Property would become part of the Livermore Village development and encompass a larger area and would include a variety of housing types while maximizing project affordability and potential tax increment. The purchase of the property would square off the site enhancing circulation of the Livermore Village project.” Proposed Use - Long Range Property Management Plan (September 23, 3013, and December 16, 2015) “Per the goals of the Downtown Specific Plan to expand the amount of affordable housing in the area, and in keeping with the appropriate use of the City’s affordable housing funds that were used to acquire the site, the goal is for this site under the Long Range Property Management Plan is to continue with the City and former-RDA plans to develop the site into affordable rental housing.”