Addendum
PREPARED BY: ARN ANDREWS
Assistant Town Manager
Reviewed by: Town Manager and Town Attorney
110 E. Main Street Los Gatos, CA 95030 ● 408-354-6832
www.losgatosca.gov
TOWN OF LOS GATOS
COUNCIL AGENDA REPORT
MEETING DATE: 09/19/2017
ITEM NO: 10
ADDENDUM
DATE: SEPTEMBER 15, 2017
TO: MAYOR AND TOWN COUNCIL
FROM: LAUREL PREVETTI, TOWN MANAGER
SUBJECT: UPDATE ON THE DISPOSITION OF SURPLUS TOWN PROPERTIES
REMARKS:
This addendum is intended to provide additional clarification to the Dittos Lane portion of the
staff report.
As noted in the staff report, the Request for Proposals (RFP) stipulated that proposals would be
evaluated either for their ability to maximize financial return to the Town or be able to meet
some of the Town’s below market rate (BMR) residential needs. During Closed Session
deliberations, the Council provided guidance to pursue BMR alternatives for Dittos Lane.
Pursuing BMR proposers was deemed the appropriate course of action considering the original
intent and provenance of the monies used to purchase the property. As stated in the staff
report, the RFP yielded a single BMR proposer and as such staff recommends being receptive to
other BMR proposers including the concept referenced in the report. Staff would like to add
that such proposals should be provided to the Assistant Town Manager by October 22, 2017.
In order to facilitate the efficient solicitation of additional BMR proposals, staff would
appreciate guidance from Council in the following areas:
1. Does Council have a preference on maximum number of buildings/units?
2. Does Council have a preference on income affordability?
a. Extremely Low Income – 0-30% Area Median Income (AMI)
b. Very-Low Income – 31-50% AMI
c. Low Income – 51-80% AMI
d. Moderate Income – 81-120% AMI
PAGE 2 OF 2
SUBJECT: UPDATE ON THE DISPOSITION OF SURPLUS TOWN PROPERTIES
DATE: SEPTEMBER 15, 2017
S:\COUNCIL REPORTS\2017\09-19-17\Town Properties\Addendum - Town Properties Final.docx 9/15/2017 3:49 PM SLL
REMARKS (Cont’d):
The Council is welcome to provide guidance on other parameters as well.
Staff will be reaching out to the parties who expressed initial interest in the Ditto s Lane in the
event they wish to resubmit based on the refined direction.