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Council approves $1 sale of Parcel 3 to support 95-unit affordable housing project
Summary
The council approved sale of Parcel 3 (corner of City Hall parking lot) to an affordable housing developer; the project is expected to deliver 95 units with 17 units at 50% area median income and the remainder at 60% AMI. Councilor Harless abstained due to a stated employer conflict.
The Vancouver City Council voted April 14 to sell Parcel 3 (the far corner of the City Hall parking lot) to a developer planning an affordable housing project that staff said will include 95 units.
City staff explained the parcel had been planned for conveyance in support of an affordable housing development and said the original holder (Lincoln) had notified the city it planned to transfer rights to Naya; the city will sell the property to the affordable housing development entity. City staff stated: "It will bring 95 units of affordable housing, if I remember correctly, it is 17 units at 50% affordable, and the remainder at 60% affordable, or area median income." (city staff).
Council discussion included one abstention: Councilor Harless said she works for the Native American Youth and Family Center, a partner in the waterfront gateway affordable housing project, and removed herself from the dais and abstained "to avoid any appearance of a conflict of interest." The council then took a motion to approve the sale; Councilor Fox moved and Councilor Stober seconded. The motion carried; councilors who voted in favor said "aye." City minutes record the motion as approved.
Staff described the deal as a transfer of sale rights consistent with previously contemplated conveyance and said the buyer would transfer property rights to the affordable housing development entity. Staff did not provide a final sales price in the oral presentation beyond the planning-stage description that Parcel 3 had been planned to be sold for one dollar to support the housing development.
Councilors did not request additional detail during the meeting; staff did not present a full project pro forma or development schedule at the hearing. The council approved the item as presented.
