SUCCESSOR AGENCY FISCAL YEAR BUDGET 2015 2016 Successor

SUCCESSOR AGENCY FISCAL YEAR BUDGET 2015 -2016

Successor Agency Organizational Chart Redevelopment Manager Dr. Kofi Sefa-Boakye Project Manager Lupe Gomez Building Inspector II Charles Scott Accounting Specialist Lupita Duran

MISSION STATEMENT PROVIDE A SUSTAINABLE ENVIRONMENT THROUGH: v. ECONOMIC GROWTH v Sale of Agency Properties for Commercial retail development v. AFFORDABLE HOUSING v Sell and Construct Affordable homes for low and moderate income families v. JOB PRODUCTION v. Incorporate First Source Hiring Policy in Purchase and Sale Agreement (PSA) to enhance youth employment

MISSION STATEMENT SUSTAINABLE COMMUNITY. ECONOMIC GROWTH JOB PRODUCTION: FIRST SOURCE HIRING, OJT, APPRENTICESHIP POLICY RETAIL /COMMERCIAL DEVELOPMENTS AFFORDABLE HOUSING DEVELOPMENT 4

CORE FUNCTIONS q Wind down Agency activities, programs and projects thru sale and disposition of over 30 properties for retail, commercial and residential development q Manage the completion of North Downtown Master Plan-Public Facility and Infrastructure Improvement projects q Administer a newly created Moderate Income Housing Fund Program to provide funding for production, preservation and expansion of affordable housing opportunities q Manage and maintain Agency -owned vacant parcels q Conduct monthly meetings with the State Oversight Board Commission on behalf of the Department of Finance q Negotiate Purchase and Sale Agreements with prospective developers to cause disposition of Agency-owned parcels q Oversee the expenditure accounts of Tax Allocation Bonds and Tax Increment Revenues

ACCOMPLISHMENTS Ø Completed the Dollarhide Community Center and Multi-Level Parking Structure Ø Completed the 75 -Unit META Housing Seniors Development (Phase I |Metro@Compton) Ø Negotiated the Sale of Agency-owned property to Neighborhood Housing Services (NHS) to develop 950 W. Alondra Blvd Ø Administered the various expenditure accounts of Tax Allocation Bond/RPTTF and Administrative funds Ø Worked with the Oversight Board and DOF to secure approval for transfer of Agency’s Housing Bond Proceeds in the amount of $9 mil for new housing developments Ø Assisted in processing TEFRA application towards the rehabilitation of St. Timothy’s Manor Ø Facilitated the completion of the Jasmine Gardens Rehabilitation Project (formerly Park Village) Ø Secured Brownfield Assessment funds in the amount of $400 k to remediate polluted properties along the I-710 Corridor

NORTH DOWNTOWN PROJECTS THE METRO @ COMPTON SENIOR APARTMENT – PHASE I META HOUSING CORPORATION THE DOUGLAS DOLLARHIDE COMPTON COMMUNITY CENTER AND PARKING STRUCTURE

Gateway Towne Center Phase II El Pollo Loco – Grand Opening

Jasmine Gardens (Formerly Park Village) GRAND OPENING

CHALLENGES • Lack of Affordable Housing • Pedestrian Oriented Commercial /Retail outlets in the Downtown • High concentration of local unemployment • Funds to remediate contaminated sites

SOLUTIONS q. Cause the Sale of City owned parcels thru the RFP process to produce approximately 100 units of affordable housing q Cause the production, preservation and expansion of affordable housing opportunities in the community q. Cause the development of pedestrian oriented commercial/retail outlets in the downtown to expand retail tax revenues q. Increase employment of Compton residents by education and skills training necessary to be absorbed into the proposed commercial/retail/housing developments

SUCCESSOR AGENCY BUDGET

SUCCESSOR AGENCY RESOURCES /REVENUES

HOUSING DEVELOPMENTS IN PIPELINE PHASE I Developer Location Size Market Value RFP Process 16208 S. Atlantic Ave 47, 000 sq. ft $1, 362, 000 RFP Process 1434 W. Compton Blvd 107, 020 sq. ft $1, 992, 000 Neighborhood Housing Services 950 W. Alondra Blvd. 78, 408 sq. ft. $2, 400, 000 RFP Process 1950 N. Central Ave. 130, 680 sq. ft. $1, 609, 000 RFP Process 930 W. Compton Blvd 87, 120 sq. ft. $2, 354, 000 RFP Process 1716 E. Rosecrans Blvd 11, 000 sq. ft. $500, 000 Meta Housing Project (Phase II) 409 -413 N. Alameda St. 33, 000 sq. ft 2, 000

COMMERCIAL DEVELOPMENTS IN PIPELINE PHASE II Developer Location RFP Process Size Market Value 47, 000 SF $1, 362, 000 107, 020 SF $1, 992, 00 78, 408 SF $500, 000 130, 680 SF $1, 609, 000 87, 120 SF $2, 354, 00 11, 000 SF $500, 000 1425 E. Compton Blvd RFP Process 2008 W Compton Blvd RFP Process 1113 -1125 W Rosecrans Ave RFP Process 501 -509 E Compton Blvd RFP Process 305 -315 N Long Beach Blvd RFP Process 1716 E. Rosecrans Blvd

BUDGET RECOMMENDATION The Success Agency recommends additional staff to facilitate effective and efficient implementation of the housing programs/projects presented in the proposed budget.

Thank you SUCCESSOR AGENCY Contact Us: www. comptoncity. org