Letter Approved by BOC and Signed ERNA with Burbank Housing

Public Housing / Golden Gate Village Revitalization

APPROVED: April 23, 2024

Marin County Housing Authority

Board of Commissioners

April 23, 2024

Board of Commissioners

Housing Authority of the County of Marin

Marin County Civic Center

3501 Civic Center Drive

San Rafael, CA 94903

SUBJECT: GGV Redevelopment report and Exclusive Negotiating Rights Agreement (“ENRA”) with Burbank Housing.

RECOMMENDATION: Accept GGV Redevelopment Report and authorize the Executive Director to execute an Exclusive Negotiating Rights Agreement (“ENRA”) with Burbank Housing, related to the Golden Gate Village Revitalization project.

SUMMARY: On December 12, 2023, the Board of Commissioners provided approval for MHA to enter negotiations with Burbank Housing, pursuant to RFQ 2023-001, Co-Developer and Partner for the Preservation and Recapitalization of Golden Gate Village. MHA requests authorization to enter into the resulting Exclusive Negotiating Rights Agreement (“ENRA”), attached hereto and incorporated herein by this reference.

The ENRA provides for the parties to engage in exclusive negotiations for a period of twelve (12) months from the effective date, subject to extensions by MHA, to implement a pre-development planning and scoping process. MHA and Burbank agree to negotiate diligently and in good faith toward the execution of a Master Development Agreement (“MDA”) for the substantial rehabilitation of Golden Gate Village. MHA and Burbank will cooperate in conducting such project feasibility activities as both parties deem appropriate. MHA agrees to use its best efforts to negotiate with HUD to obtain any necessary approvals.

The issues to be addressed in the negotiations include total development costs, nature and amount of the financial investment, financing of the project, development schedule, preliminary design and architectural concepts, marketing and management of the project, remediation of any adverse site conditions, and offsite  improvements, among others.

FISCAL IMPACT: The predevelopment costs anticipated for the development will be shared equally by MHA and Burbank Housing, with MHA'’s portions being funded with proceeds from a loan provided by Marin County. 

Sincerely, 

Kimberly Carroll

Executive Director 

Attachments:

GGV Redevelopment Report

Proposed ENRA between MHA and Burbank Housing