Title
AN ORDINANCE authorizing the King County executive to enter into a development agreement with Bridge Housing Corporation and Community Roots Housing to develop and ground lease county-owned land located at the Northgate Park and Pool lot, in council district one, for affordable housing and related purposes.
Body
STATEMENT OF FACTS:
1. Consistent with K.C.C. 4.56.070.C.1. and K.C.C. 4.56.085, in 2018 King County issued a request for qualifications and concepts, number 1207-18-VLN ("the RFQ/C"), through which King County sought proposals for the development of its Northgate Park and Pool lot. Among other things, the RFQ/C required proposals to include a minimum of two hundred units of subsidized affordable housing for a minimum of fifty years to serve households earning up to sixty percent of Area Median Income ("AMI"), with a mix of unit sizes and configurations, and with a minimum of ten percent of the units to be "system connected," serving very-low to extremely-low income households below fifty percent AMI.
2. The RFQ/C resulted in three proposals and King County selected a developer team and commenced negotiations with the selected team.
3. After extensive negotiations the Metro transit department determined that the county should enter into a development agreement and ground lease a portion of the county-owned land located at the Northgate Park and Pool lot to Bridge Housing Corporation and Community Roots Housing (collectively, "Bridge/CRH") for an affordable housing project to include two hundred thirty-two units of affordable housing for seventy-five years with at least twenty-four units designated for system-connected households with incomes of fifty percent or less of the area median income.
4. The Metro transit department successfully negotiated a development agreement, form of ground lease, and related instruments with Bridge/CRH for a portion of the county-owned land located at the Northgate Park and Pool lot.
BE IT ORDAINED BY THE COUNCIL OF KING COUNTY:
SECTION 1. The executive is authorized to execute a development agreement for county-owned land located at the Northgate Park and Pool lot to Bridge Housing Corporation and Community Roots Housing, substantially in the form of Attachment A to this ordinance, and to execute all related instruments and take all actions necessary to implement the terms of the development agreement. The executive is authorized to execute a ground lease, substantially in the form of Attachment 5 to the development agreement in Attachment A to this ordinance.
SECTION 2. If any provision of this ordinance or its application to any person or
circumstance is held invalid, the remainder of the ordinance or the application of the provision to other persons or circumstances is not affected.