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Home My WebLink AboutCOW 2012-09-10 Item 3A - Tukwila Village - Proposed Disposition and Development AgreementCOLINCJL AGENDA SYNOPSIS IrzitliG /s Meeting EL hi Prepared by Mayor's review Cotenci,I review 09/10/12 DCS ,/,/te•- ❑ R so/u,liun 111tk E ata C9/24/112 DCS ❑ PuG kir I eG r/ng MI', f LIatla ❑ O,Ihar .Il 1,, Lla,ie E X1'P.(I I)RY ►1 Dtisaruss,itVni MAI DaM 9/24/10 .IPa)NSOf ❑ Counsi/ // Nayar ❑ FIR ❑ DCD ❑ .Finance ❑ Fire ❑ IT ❑ 13e7RI ❑ 1- ohm ❑ PIP Si'ONSIL r'S ( ity Admini$IUralion arid iii. kwila Village Development Associates, LLC t ave agreed or deal SUMMABY terms for TAMA to develop llukwila Village. The C ity and TVDAI are making final edits to a proposed Disposlilliori Eind Development Agreement (DDA) It all will be brought to the City] Council for approval in the near full re. llhis item is intended to provide the C auncil an overview all the forthcom irig DDA and will aI$Io be coming forward lc the 9) 24)12 Committee all It e int ale flan discussion. RIy%lliWI 1) l'N ❑ CCIW Nitg1. ❑ CA&P Cynic ❑ Fad Cmte ❑ Transportation Crnte ❑ LltL ter Cmte ❑ Arts Comm. ❑ F arks C cunni. ❑ Illannjr.ig Com in. DATE: COMMITTEE CHA]RI: RECOMMENDATIONS: it 1)N.(::i/ADMIN. C I Dmmi City Adminislraliari riE1= I11EM INFORMATION ITEM NO. STAFF 91CN5CB: DUREK SRBCH O10131N� 1,I)(1;11N1 A^ Dis'1"F: S ) 11(1) 12 AGENDA ITEM 11111/. llukwila Village Rropo<.led DislposiUion and Development Agreement (DDA) 9/10/10 & ❑ M iiion ill Da Vi ❑ R so/u,liun 111tk E ata ❑ C rdinG nuc 1'1tt Datta ❑ B;id/ wara ML, DWI ❑ PuG kir I eG r/ng MI', f LIatla ❑ O,Ihar .Il 1,, Lla,ie E X1'P.(I I)RY ►1 Dtisaruss,itVni MAI DaM 9/24/10 .IPa)NSOf ❑ Counsi/ // Nayar ❑ FIR ❑ DCD ❑ .Finance ❑ Fire ❑ IT ❑ 13e7RI ❑ 1- ohm ❑ PIP Si'ONSIL r'S ( ity Admini$IUralion arid iii. kwila Village Development Associates, LLC t ave agreed or deal SUMMABY terms for TAMA to develop llukwila Village. The C ity and TVDAI are making final edits to a proposed Disposlilliori Eind Development Agreement (DDA) It all will be brought to the City] Council for approval in the near full re. llhis item is intended to provide the C auncil an overview all the forthcom irig DDA and will aI$Io be coming forward lc the 9) 24)12 Committee all It e int ale flan discussion. RIy%lliWI 1) l'N ❑ CCIW Nitg1. ❑ CA&P Cynic ❑ Fad Cmte ❑ Transportation Crnte ❑ LltL ter Cmte ❑ Arts Comm. ❑ F arks C cunni. ❑ Illannjr.ig Com in. DATE: COMMITTEE CHA]RI: RECOMMENDATIONS: it 1)N.(::i/ADMIN. C I Dmmi City Adminislraliari riE1= COSH IMPACT / FUNC SOURC E Ex1i;ND11'UR1-? RI-/IUI11-?D A M 01_ NT BUDCIAIIBD APIIIROPRIA1ION RAQUI RED $ $ Func Source: C Ginnie ntkr: MTG. DATE RECORD OR COUNCIIJ ACTION (9/10)12 MTG. DATE A11TA C H M ENTS 019) 110/112 ]Inkrmational MemonaridL m dated 9/6/112,, wilt attacihmenls 019/ 24/1121 TO: City c 1 Tukwila �,im Hlacgarion, MayoA INFORMATIONAL MEMORANDUM Mayor Haggerion Clity Ca L ncil FROM: Derek Speak, Bcc ria miic neviela klment Adn inistuator DAUB: Sleptemberr EI, 20' 2 SUB,BCI11: Tukwila Village Rrc icsed Dispcsiiticri and Deuelcpmerit Algreerrient ISSUE TF is import is intended to pnci\ ide an cis Errs iew oil 1l- e k Ely 1 Eirms ion a proposed Disposition and Developrr ent Agneemeni between 11- El City and 11 El dEI\elopen of Tu kwila Village. BACKGROUND Ori u ne 6, 2011, tf e City Council selected llu k wila Village ❑EIS Edopment Asisciciiatesi, LLC (TV DA) as 11-e developer for llukwila Village. Since that tirre, the City and 11VDA I-a\EI been negotiating a Disposition and Development Agreement ODA), which is the ciontnEiCil 1I at outlines if e nciles and responsibilities oil the City anc TV❑AI anc others conditions for the sale of 11-a llu k wila Village property to 11VDA. Ori December 19, 2011, Clity stafil nnEisEinlEic the key propos& deal ienms to if•e City Council. 111- El City staff and 11VDA continua negoiiaiiaris and wank cin tI e pnojeal and ane riow making ilinal edits io a proposec DDA. Sltafil iriteric s to k ring the gpiaklosied DDA to the City COL riciil ori Slepten ber 24th ilcui disc%ssian and intends is nequ est Cm nail appnoval in Octobers. The pu lipase of if iss memo is to give the Council some acvance information and aontext la makes it easier to review if a proposed DDA wf en it is available. AEI pari of 1I -e negotiations, the Cliiy and TV❑AI ha\Ei erigagec in aonsidenakle Eli1EI planning and design c isau ssions. TVDA has keen performing cue c iligence, geoleal- nical and civil engineering studies, site planning, and architeclu nal and lanc scope c esign wonk for the pnoflasErd c evelopment. They are an a schedule io submit the project ion design nes iEiw approval within a few months oil 1l- e approval and execution of the DDA. The City and 11VDA have also been negotiating will- the King Clau nIy Library System IjKCL SI) iri orders fon a K CILSI branch library is be k u ilt on the site. In . une 0012, the King County Lit nary) Fat. ndatiori comrr ilted tci naisiing ilu rids so that KCL S could inanease the size oil the builc ing fnam 8,000 squane feel to 10,000 square feet. Ori J u rte 05, 2012, the City Clouncil approved key c eal terms for the sale al a portion of 1 e llukwila V illage property to be solc to KCLS. City staff will bring a proposed properly ix nal -ase aric sale agneemeni fon 11-a1 parcel as soon as possible once 11 a DOA with 11VDA is apppm ec . 11VDA is still iri negotiations will- KCLS ion 11VDA io provide site wonk and infrasiuuciiune anc for cross-pnoklerty easements. 111 -ase parties will reach agneemeni afien 11 E1 DOA is approved. 3 INFOFINATICNAL ME Page MC OISCUSE ION In Clily stall's opinion, the proposed ❑❑P aligns very closely will- 11Ea deal terms presented to Clou ncil on December 19, 2211. The Iriieric ed Developmerii Atlacl-ad is a cioricIEipl site plan showing 11V❑A's irileiril as of March 19, 2C112. 11VDA has coriiini ed working ori the site plan since that lime and will aorrlinue to revise 11- Er site plan. Tl- is vei'isicri of th e concept site plan is rscrl t inding; we have attached it because ii is priot ably th e easiest verisiori fou the publics to understand. 111-Ei site plan will change as ih a project goes through th e Cliiy's c esign rEiview arid permit approval prociEiss. Ct. rrEinily, 11VDA proposes the dEsvelopmerst io irsalt. de: Kirig County Lit rarY1 Branch Office (mEidical/denial; FlEiiail and rEisiau irarii Rolicie IN Esigh t orh ood Resou me Center Indoor Community Clommans Outdoor Clomimu niiy Plaza Aga- FlEisiniated Housing Non -age Restricsiec Hou sing 1 CI,OCIO squ are feet 2CI,OCIO squ arEi feet 11,OCI0 squ are feet 2I,OCICI squarEo feet 2I,OCIO squ aro feet 2CI,OCICI squ are feet 300 units 80 units TVDA irsiersc s for only abat. 1 20% oil 11 -El non -age rEisiricted apartments io be rEiniEid 10 I- ouseholc s earning 5a% on less of the arsea median income OW so th at the building is eligit le fou 1a) exempt t and llinancing. In terms o1I hoi soh old inaomes for the age-nestriciEid apartments Ilsersior apartments; , 11V DA inlEinds fora about 2CI°r° to I- avEi no hou sal- old income rest uicsiions, at out 121% 10 be nestriclec to 80% of AMI, about 40% to t e rEistricted to 6C1°r0 crl AMI, arid about 27% to t e nestriclac to 5a% of AMI. llhe rent on sorrnEi of the age-resluiciied units wit. Id be IimilEid io 3CI°r0 of 11- Ei maximum allowable hat. seholc's income. Tl- ese income and rierii nestriciions enable the age-resiuiciied IIsenior; aparimEini builc Ings to 1 E1 eligible lou lax e)emhll band ilinariairig, federsal lax credits, arid a property lax exemption. 111-e AMI is tared on median h ouseholc incomes ilor Kirig Clounty . Attached is a chart displaying 1 h El household income limits that would have applied 10 this projeat iri 2010. 111-a iricicrmei limits will be upcalac each years. TVDA intends la t t. ild the prsojecii ir phases will- each major phase ha\Jirsg a separate parscel of property bat. ndauies. 111 -El first phase will slant on the north side of Mouth 144th S111E1E11. 11VDA is still analuating whish t t. ilding will t El the first. In any crane, the Rlaza and Commons will t El t t. ilt al the same time as the first t t. ilding. llhe library branch t t. ilding will be t t. ilt by KCLS during the same approximate time 1 came. The Inienc ed Sal -ac use Following is 1l- e City staffs and TV DA's t est estimate of a development sal- edula al this lime. 011 courise, it is sit jecl to change. AppnciNal ai Disposition arc ❑eNalopment PgneEirrani (DDA;'' AppnciNJal cid Development AgreementIDA)* AphpsaN,al cd Statement cd Fli rpose and Design of Plaza AppnciNJal cd Statement cd Rt. rpose arid Design of Commons C:\Lloci irn e nts and Se ttings\de re r-s\0eskta OA gin nda 2012 0 S 10 v4.dac 4 Octobers 2012 Novembers 2012 Novembers 2012 Novembers 2012 INRORMAl1IONAL HMC Page Submittal oil Phasing Plan Apprio%al o1 Eli reet Vacatior Oucinance' Submittal oil Design RENiew Application Appiimal o1 Rhasiing Rlan Appnmal o1 Design Review Submittal oil Builc ing Hermit Applications lor First Rh ase Notice of Preliminary AprincNal of BL ildirlg REIIimits fon Fiust Phase Contractor Clommiiment for Clarsinuction Contract Investor Commitments darn Dett and Rqr. ity Close Escrow on AL ncal-a i€i of First Phase Iss'r ance oil Builc ing Permits Construction of Soith 144th Street Improvements Formation oil Commr. nity Organization Appnme PolicIEI Neighbonhcicic REIEICIu rce CIErrllE ii Lease* Comnleiion oil Rirsi Rh ase Comnleiion oil Flinal Phase PoliaEI N eight ant ood Resource Center Move -Irl November 2012 December' 2012 ,, aruaryl 2013 Alklril 2013 Alklril 2013 Alklril 2013 ,, r. ly 2013 ,, r. Iy 2013 ,, r. Iy 2013 Alr. gust 2C113 SEIp1EIrrit er 2013 2013-2014 2013-2014 2014 December' 2014 December' 2015 2015 *Clouncil apklnmal IIEiquired. Tr e Alpproval RiiciciEIEIEI Cou nail apTp1o\4al of 1 h e DDA is one step it a mu Ii iple step process. The Clily Clcu ncil will also be asked icr anprove the ilollowing: I . Develokl erI1 Agreement (DA,: AlIihai gh they h avEI similar titles, a Disncisiiion and Development Algreement ODA: is very difil€lreni'nom a ❑evelonmEirli AIgIiEIElrriEiri II❑AI). As mentioned in the background i€icilicirl, the DDA is a contract that or.ilines the ides and responsibilities of the City and TIVDA and crihElil conditions fors 1ha s'a'e aril the llukwila Village property to 11VDA. llh al agIiElerEiri reflects the City arc TVDA roles as seller and buyer' of property . AI DOA is significiarl ly more detailed and extensive as compared to a typical property purchase and sale agreement t € ciause 11- Er ❑❑A includes provisions giving th e seller scirEl c'ontr'ol over how the property is dEe%Elloped plus other' nigh Is and resporsit ililiEis. phis is the 1lirsl DDA the City has ever cionsiderec A Develcipmeni Agreement II❑AI) is an aguElemEiri between the Cliiy and developer' that can prcr%is e for more flexible develokl ent flights 1 nderi the Cliiy's rade as a ii€lgulaion it exchange for additional public' berIEdliis related icr the development. The Ciiy has apprcmrc DA's ilcm a NdaniEily of develcipmErri klrajects in 11- e past. C rice th e DDA is appiimElc, stafil will reiurin with a DA. As an e4ample of t1 e tykles of items that will tEI incli c ed it the ❑A, 11VDA has indiaalErd it will seek approval for 11- a maxim RI h eight of buildings A and ❑ (las shown an ihEI c milt RuEdiminaryl Site Rlan) to be 70 feet instead of the currently approved 69 leEii. In EI>tcharige, ihEI DPI wcu Id enable the BAR to lake into account kEly elements oil th e ❑❑P such as the llr.I wiIa Villageision Eitaiemerlt, key 1ocial points icr t e identified on th e Rroklosed Elite Plan, some addiiicinal vertical and honiaonlal modulaiicirl to 8r. ildirgs B and 9, and a minimum interior height for' ihEl retail space. �I. \ aciai ion of 41't AvenL El Sar.1 h : The City Cou rail wou Id adapt an ordinance to apk pica El vacation of the portion cd 41st Avenue Soi ih that lies within Tukwila \ illage. Since ih is si neEII currently Aim ides access icr 11- e Normandy Cm rt A pari ments, the ❑DA incIL c EIS CI: \Documents and SE tting;i\clerek-s\Desk op\Agenda ;I a 120910 W.doc 5 INRC RMATIONAL M EMO Page 4 some provisions 1a ensune 11 -Er developer giiicevides sLfllicient access for 11 -El Noimancy Claurt dining and alter consitruclion. 3. Boi ridary Lire P c justmElrlls: W h EIIIEI 1 h e Village propenty abL is the Ci1y nigh 1 cel way , 11- ere will need 1a k EI some adjL sitrr ents 1a the bounc ary lines. 4. Police N eigl- borhood Resat. nae Ceder Leasee: We will negotiate 1I -e dEliails all this leasee once the project is furl 1- er along. The Mayon, or his designee on agkiiiapriate degartn ent, woi Id have nesgansibiliiy Ion approving nearly all th e o11- er agneerr ads and key ok ligai iorlse oL tlirled in 1 he ❑❑A inclL c ing: 1. Temporary Clanseinuction Basement We may want to enable TV ❑A 1a start son e siise wank and gnading even k elcm€l all k i ilding p€u mits are approved anc 11 -El lanc wale complele as a way to spe€lc develaklrr en1. If 11VDA improves the property but doesn't complele th e SIL rah ase, th e err proven en1se become 11- e pnaklerty 011 the City . 2. The Flhased Develapmeni Plan: TV ❑A isi not likely to constrict all k i ildings at 11 Ea same time and so 11- ey will k Ee pl- asung the development. Thene are a nL mk Eir of legal protections 11- at need 10 be in place 1a ensure a viable development in case not all Oases ane completed. 3. Proposec Site Rlan: As an exh ibil of the DDA, the Council will be approving a Preliminary Site Rlan. A draft PrelimiriarY' Site Rlan dated EEepiElmkEir 4, 2012 isi atiaah ed. W 1 -en 11V ❑A is ready to submit the pilojec1 fors c eseign i EI\ iew, i1 will submit a Proposec Si1e Plari. 11hEI Mayon or his designee will al-eak to see tFa1 the Proposec Eiie Plari is Fill seiarliially seen ilan to 11- e RIIEIIen inar I Site Rlan so th at we can ensune the pnojecl as slubmittElc fon design 1Elview Elifflicienlly meets the Coi ncil'se vision. Once the priojeci enters the c eseign iiEly eew ase, the c esign approval will go through the cliiy's regi lar klroaesrsl anc k e reviewed by sitafil loam varioi se city dEipan merles and 11- e Board cel Aral- itecli IlEI Review IIBAR). That review process rr ay necessitate changes to th e site plan k L 1 tt ose cel- anges are not expected 10 be brough 1 back 10 ih a Clily Counail. 4. 1IV ❑A and KCLS Agreement: It is important 10 11- a City 11 a1 TV DP and KCLS rleaclh an agreement elan siiie inlrastri cliune, vet isle and pedesinian access, utility Eiaserr entre, parking easIElmElnis, infrastri dune maintenance, anc site design 1hal enables KCLE to owri its parcel while still ensunirig a site 1ha1 lL ricetioris as one integrated developmerii. 5. Slalemenis oil Purpose and Design: The DDA nom is es fault a BAR to have the aL lhoriiy for appro\ ing the design of the aulc oor plaza anc inc oon commons curing 11- e design review process. This is not ty klecally L rider the BP RS purvtiew i1 ire appriopniale in this case since the BAR will be reviewing anc appro\ ing 1hEI overall site plan and c eseign. We neec is give the BAR same guicelirles 10 ise when reviewing the plaza and con- mons. 51afi1 and TIVDA will muti ally develop le guidelines. We gull have one lalemerit of Purpose and Design" for 1hEI plaaa and another one ilaii the commons. We will h ave al least ane apporti nity for public' inpi 1 on a c ralt (111 1- e gi idelines. 6. Residi al Lanc Value Analysis: 111- EI price Ion the pnoperly 11VIDA develops woulc k e based are a aalculalion oll the "nesic i al land \ alue". 1I e residual land vali e apgiiaaah is very seimilan 10 wh at is morie aonv eniionally aallec ih e "inaome appnoaclh" i sed for (:\aocuments and Settings\derek-s\Desk opV genda A130910 wl.doc 6 INHCRMATICNAL MBMC FLgge 5 appraisals. llh e RL V apprioacih uses a financial npicrjeci ion cd 11-E1 dei elopment's future nal operating iricrcrmEl to calm late 11-E1 market NJalue o1I the project. The crotid of ceveloping the project is deducted from *El market valt.e of the project to result iri 11-E1 lanc value. The DDA Fprch ides 'omit is cralct, lation to be perform ec for each develcprr ent n1- ase anter the projeat h as been inanity approved 11- not. gh the Cily's c esign review arc k L ildirg permit review, alter TV ❑A 1- as secured financing cam m itrr ents, arid after 11VDA h a;i a binding consinLcrtiorr aonluact. The City I- as hinec 11•e real estate advisony firm of Headland, LLC to pinch is e additional ue\ iew oil 11- e RL V analysis. 7. Forrraiicrri o1 Comrrunity Orgarriaaiion: The DDA provides ilor 11VDA and ire City to jointly foram a aorrmunity orgarriaalion 11- al will lease the plata Flarael ihiarr the developer for $1 peri year for 40 years. The Comrrunity Orgarri2alion will manage aric openale the plata arc con- mons. The DDA stales 11- at 11VDA will make a one-tirr a cosi nit t, lion of $5C1,0CICI to 11-E1 Community Orgarri2aiicrr. llhe City arc TVDA's iriieril is ilor the comm t. nity orgarri2 aiion to t, se 11- a revenL as it receives irrom plaza arid comm ons reservations or cL lsic Er guards 10 cover its opeuatirig, maintenance, and olh er costa. 8. Estoppel Certificate oil Completion: llhe ❑❑A pnovices 1ha1 when 11VDA has rrel its otligations t, nderr the DDA, 11VDA may rregi est the City 1c provide a certificate to Iha1 efileal, wh ich is coiled an estoppel certificate oil compleiicrr. Tr is is a significant dont, merit because it is important to not issL Er the certificate 1 ntil 11VDA's obligations have beers met. Oil -all Key llerims arid Clonditiorrs In addition io the agueemerris describec above, following aue ac ditional key terms and corrc ilions. 1. Uses and Slit es: The DDA niicN ides for the develorlm curl 10 have, at a minimm, m, the uses and amoL res (in 1Errms of sqt. are teal or units; c escrrribed above iri the section tilled "llhe Intendec ❑ewlopment". 2. Age, Iriaome aric Rani Restrictions: lit e DDA Flrro\ ides Ian the develcprr end to have the restrictions ori age and 1-olseholc iriaome and nerd a:r describec above in the section titled "111-9 Intended Development. 3. Library Architect L. nal Style: The DDA niicr%ides fora 11- a City io use its best efforts 1cr rregL ire KCLS io submit a Fprcposed silo plan o11 the Libnar i Flarael and a crcrraepIi al architecli ral design Ion the pnoFio;ied Iibnar I be ildirrg by 1he time 11V ❑AI submits a desigri nen iew application ion the iirrst develop- ent phase. This is not a gi arantee that it a two pnoFierties will de\ Edop wilt a sirrilar style but is an effcrt to enat le all par ies are corisic ering desigri sty les al 11-e same lime so 11-ey can al- oose io be compatible. 4. Library Rancel: 111- a ❑❑A acrk riowledges the Cily's intent io sell a parcel of property, the "Lit raryl Flauael," to KCLS for a library branch. In 11- a unlikely event 11- a1 KCLSI and the City do riot close escrow and convey 11- e L ibrary Aanael, tt en 11VDA woulc hen a the right to purah ase the Lit nary Parcel. 5. Incorre Restriclions — Nori Age Restricieec iINon-Senicu): llhe DDA irrierrc;r Ion 1he non- age rest uicted apart m errl t t. ildirg to qt, alify ilou 1edEuially tax exempt boric financing. As a:\Docuni e r is an( I Settings\c IE rt 1 -s` De skta n\Ac E r da 2017 0910 v4.c la 7 INRCRMATICNAL MEMC Page such, 1cl 11-e extent necessary la meet 11-a minimum gLalifications for tax exempt band financrirrg, 11- e rrcrrs-age nest ricted apartment 1 nits may k e restricted to house olds earning 50°%° or less of AMI (apppsm imately 20% of if a units] . llhe balarrciEl of if a units must have no income restrictions. 6. Irsciome Restnicilions — Aga Resinicited QSIErrrior; : llhe DDA intends Ion 1f Er age -restricted ("senior') apartments to be a‘ ailable to hcrr. 5EI11olds earning a variety of inciomies while enak ling all of the senior' units to qualify ion property ta) exemption and federally tax exempt boric llinancing and a majaniiy ail the senior' 1 nits 10 gLalify Ilor low-income tax credits. As such, al least 20% of 11- El units mitsi haNde rio income restriction, 30°%° mLst have either no income restriction or be neslrictEld io no (ower than 80°%° of P MI. lff e balance of the 1 nits may haNde irsciorr EI rest nicrtiorss k11 rscrl below 50°r° oil AMI. Some of 11- irrciorriEI restnicriec units may also f' ave rent rErsinictions io 1f a Ei)tent rrecressary to qualiily llor Icrw irsciomEI 1-ar. sing 1a) crredits. 1. Rlaza Maintenarsciei arid Utilities: 111- El CIDP rpm ides llcrr TVDP 10 maintain 1f Er plaza arrc pay for all related utilities and ilcin the crommuniiy anganizatiors to Heim k i rse TN) DP for 50% of 11- e icllal maintenance costs pl. s 100% of 11- e solid waste costs IEIIated to users sat edulerc ky if a crommuniiy crrganiaatiorr. El. Commons Maintenance arrc l,iiliiies: The DDA provides fora TV DA to rraintain stri c1Lcal cromponersis and mecrharsical systems arrc exiEr'sior of 11-E1 crorrimorss arid the commi nity organiaalicrrr to maintain rion-sincrturial internal' corrponenis. The comma.nity organiaatiors will be responsible fora all utilities related 10 the comimcrns. 9. Rlaza and Commons Repair': 1I1 -e DDA provides for 1IV❑A to be nespernsiblEi loll repairs io the plaaa and commons due to ordinary' wean arid 1Elar and damage clew sed by 1 sera not sal- edulelc by 1I EI crcimmt rsiiy organization. 111 Er ciammt rrily organization will be responsible fora repair's icr the plaza and comimansr dii. El to damage ilium scrf• EldulEld r. Elora. Cl. N on -nixed Rlaza arrc Corr mans Assets: The DDA provides ion the commi nity organiaalicrrr to be responsik le flan rr airrlerrancie arid aaplital replacement oil all indoor arrc outdoors non -fixed assess Ian if e crcrmmons and plaaa, ad- as ilr. ssrriir. llEI arid Erquipmerrl. 11. Mouth 1144tt Street ImplrmElmElrsls: life DDA ppscNices for 11V DA to cronstruct any street ilrsorsiage improvements requested by TVDP or reqs irEld by the City. P n example oil 11 -El improvements being considEr'iEld by TN) DP is shown on the attached cioncept site plan. 111- EI ❑❑P also states that 11 -El City will m ak El the South 144th S1118E11 priojElcii a high priority projelcrt and acli%aly seek outside ft. ndirsg. 1111- noac wank starts in 2013, i1 is unlikely 1h EI City would bEl able to secure oLlsidEI iursc ing in lime for if a pro.ject llhe irsilrsastrucl� liEl csosls would be irscili ded in 11- e Hesic ual larsc vak e analysis. 12. 11Lkwila International Boulevard Improvements: The ❑❑P includes provisions 10 ElrsablEI 11VDA icl nElquesl City appnoNdal 10 construct some on-stIElei parking improvements along 11L kwila International Rai levard. An example oil this isr sh own on the attached crclrsciepi Elk! plan. 3. V Elsri trig of Bntitlements arsc Fees: The DDA rpm, is es for p iiciper y 1cl be \ Elslec under entitlements, bL ildirsg permit 11EEees, arid development impact lees per regular oily policy. ill-EIUEI is rsoif-ing in the DDA thal reduces 11-ciSEl lees on ppro%ides speciial %eatirsg. 111 -EI C1:1Doaumenta andSetting slderek-a\Deikop' genda24120910u4.doc 8 INFORM Al1ICNAL MHC Page 7 permit arid impacll fees are all day Ellopment costs tF al will bEl iricllL ded in iF EI residL al laric vali. e analysis. 14. EncouriagEld Uses: All parties have EI)pressad iri1Euiast to FmEI a cicilfee sl-aplclafe and diner -style reslaL rani as commercial l€iriants. As an incentive 1a ericioL rage 11VDA to atlnacit these tenants, the DDA slates iFEI City aric TV❑AI woulc icElnlilly 11-EIIEI spaces aric that 11VDA cannot lease 11-a spacias 10 allElrriali\ EI L .IEI.I for 2 y Eiars from 1F EI Cale tF e City iIIL es the eslcippel certificate of complEllicln fora iF El nesic eniial comporlElrii of the llirst pF asa. 1I1- is is not a gL mai-ilea those spaces will have 11- EI iril Fended uses, t L 1 it is a reasonable ilinancial iricienti‘ e. 15. QL ality of Construction Malaria's: 111- EI DDA specifiEis that TV ❑AI will utilize F ig1 quality constri chitin maienials cicinsis1er11 with mixEld-use develcipment and market nate residElrliial rental apartment properties. BxamplEls c11 the quality cilt such construction materials irlcliL c e 11- e ❑evelopEln's Arrowheac Gardens Apartments EllopmerII in VV est Seattle and Victoria Park Apartments c evelopmeri1 in Lake City . Materials such as syniF EIlia stucco, plastic slonefront window systems, cindElr t lock, aluminL m/plasticA inyl siding, 011 ltai. clac c ing shall real be L sed cin any bL ilding facadas. 16. ReriElgolialion Rigl-is: Tlhe City woulc alscl Fave t' El eight to renegolialEI the agnElement ilt IF a nesic L al land 'alue analysis rlesulis in an a‘ erage land value oil less than $10,000 pen nesicenlial unit plLI an adjLstmeni for aommEmclial space. hI TVDA rejects the City's proposal, there the agnaElmEIr11 for that phase woL Id be terminated. 11his pnaleclts 1tEI City loam bEling looked into selling the property al too low of a price. Stafi currently estimates 11- is woulc let 1F El City terminate the agneElmEIr11 with TVDAI ill ii ccies not result in a land price of al least $4 million. 17.11Elrmirlalion Rights: AlthougF 11"EI CIi4 woLId nail casire 1c1 IEUlminala 11-e agneamElrli, we woL lc F a‘ El the night to dci so ill 11VDA is not moving forward witF the projEiai prior 10 conveying the pnopElrty ownership to 11VDA. As an example, ill T\)0/81 does not submit an application ilor Design Review for 11-a firlsl pFase wilt' in 90 days ltnom when the City executes and deli\ars the DevelapmElnl Agrieamerli, the City ciould terminate 1Fe agneElmEIrii and woL lc nE11air1 the property. 18. Clawit ackaREI Erasion: III 11VDA purchases 1hEI pnopElrty tut dons not progress witF develciping ii, 1F e City waL Id haNAe the nigF 1 to repurchase the prlopEirty. O1I clot rsEI, ricrrie of the partiEls intend 10 use this rpm inion t L 1 1F is pnoteclion is important in cease unforeseen events CICICIL OF al prevent 11VDA complEliing the projElai. RECOMMENDATION This item is fors iriltonmatiorl only. Ella is sciF edulElc to return to CoL riciil with a proposac Disposition araC Develcipmenl AlgiiEiemenl iI❑DAI; cin September 24, 2(112 for discussion and in Oc11ot Ell! 2013 fort a c aaision. ATTACH MENTI CorlcIElpl RIar1 ❑alec March 19, 2(112 HoL saF old IriaomEl RElstriciions Driafl Preliminary Site Rlan ❑alEIc SeIiemben 4, 2013 CI:\Loaf menta and Settini s\derek-s\Desk op\A genda la 120910 i4.doc 9 Access to Adjacent Parking and Fire Lane Prop- Line Residential over Garage Plaza over Residential Live -Work ' J J Legend A - Indoor Commons (2,000 SF) I - Focal Point / Meeting Place B - Potential Cafe/Coffee Shop with Outdoor J - General Use Parking Seating K - On -Street Parking C - Commercial I Retail L - Plaza Extension Across S 144th St. with D - "Village Green" Median / Pedestrian Refuge Island E - Village Green Entry M - Existing Metro Bus Stop F - Promenade N - Library Monument Sign G - Library Plaza and Main Public Entrance 0 - Relocated Crosswalk H - Restaurant / Coffee Shop with Outdoor P - Plaza Sealing Live -Work Residential over Garage E E -) U iv 0 Police Existing Fire Lane Property une Residential over Garage Plaza over Garage Commercial Library TUKWILA VILLAGE Tukwila Village Development Associates, LLC Concept Site Plan c A ti VV JOHNSON BRAUND N. 15200 520t AVB. soon Suite 300AselR w.w.pm nnspaumw .un Phone 206.2 rUkbyila hien 13- J 1 aA4 LAstudiOLLC land planning landscape architecture land entitlement March 19, 2012 Affordable Housing Income Limits 80% $48,000 $54,800 $61,680 60% $36,000 $41,100 $46,260 50% $30,000 $34,250 $38,550 This table reflects the maximum income for households eligible to rent apartments set aside for households at 80%, 60% or 50% of the area median income. AMI = area median income Income limits per Washington State Housing Finance Commission for King County effective 5/14/10. TUKWILA VILLAGE _. 0' 25' 50' 100' 49110, Scale: 1" = 100' Note: This drawing is conceptual in nature and therefore subject to further review and revision. ►ILII flit/ 4 Legend Parking Garage Entry Point Plaza Paving Special Pedestrian Paving Building Footprint 1 Proposed Library Property Line as co J r4pet 7n167 Preliminary Site Plan Tukwila Village Tukwila, Washington September 4, 2012 - Draft 14 5144th S J a3 4 Upper Building Line (Typ.) Parking for King County Housing Authority LAStLICIIOLLC land planning landscape architecture land entitlement