Title
Resolution to Provide a Public Summary of the Proposed Public-Private Development Agreement Between the Developer of Arbor South and the City of Ann Arbor
Staff
Reviewed By: Atleen Kaur, City Attorney
Body
Whereas, In 2021, the Ann Arbor City Council created a new zoning district (TC1) to stimulate mixed-use development along transit corridors at the periphery of the City;
Whereas, The goals of that zoning district include encouraging development that would bring residential density to corridors well-served by transit and make those corridors desirable places to live;
Whereas, The City Council of Ann Arbor is entertaining a proposal for an approximately 17.6-acre project known as Arbor South along State and Eisenhower on land zoned TC1 that would provide 1,000 units of housing-both market-rate and income-qualified affordable units;
Whereas, The Developer has indicated that the project requires significant public participation, and the City’s financial consultant has evaluated the proposal;
Whereas, The proposed financing structure has raised significant public interest and questions about cost allocation, risk, and long-term fiscal impacts, and a clear summary is necessary for the community to understand the proposal;
Whereas, The City Administrator, with assistance from the City Attorney’s Office, has negotiated a detailed Public-Private Development Agreement (PPA) that is lengthy and technical, and contains numerous financial and contractual provisions requiring clear explanation; and
Whereas, City Council believes that the public would benefit from receiving a summary of the key negotiated deal points in the PPA;
RESOLVED, The City Council requests the City Administrator to prepare and make available to the public a summary of the key negotiated deal points contained in the PPA prior to placing the PPA on the agenda for a future Council Meeting.
Sponsors: Councilmembers Disch, Akmon, Briggs, Cornell and Radina