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Figure 52 PDA Readiness Criteria Worksheet PDA name: Oakland Coliseum Version: Baseline # Readiness Criteria Category # Sub-Criterion Name Present (2012) PDA Development Readiness Scoring 2020 2030 2040 Notes A-156 D Market and Investment Attractiveness 1 History of real estate investment in PDA and surrounding city 2 Recent Local Development Activity 3 General Market Conditions 4 Financial Feasibility Constraint 0.20 0.15 0.10 0.05 0.00 0.00 0.10 0.10 0.10 0.15 0.15 0.15 Census suggests that ~1,300 net new units built in PDA between 2000-2010, while Plan would require 228/year for 30 years. Most or all new housing in this area has been subsidized affordable development, not market-rate. City says developers are expressing increased interest in Oakland, but not yet in this area. 2010 survey identified 864 units in the pipeline, including 374 affordable units. Nearly half of pipeline projects were in Coliseum Transit Village (414 out of 864), which has now been downsized to ~112 DUs on a portion of the site and currently on hold due to Redevelopment ending (State audit continues through April 2013). Low income levels, low housing prices, and limited recent development of market-rate housing indicate market challenges. Over 31% of all units in 2010 were income-restricted for very low income. Achievable market-rate price points in this area are well below levels required for new construction feasibility. However, allocated growth can be accommodated at average densities just under 30 DU/acre, so development costs may be lower than in other PDAs. 5 Parcel size and configuration Ample. 0.00 0.00 0.00 6 Existence of major investment disincentives 0.20 0.20 0.15 2010 survey identified poverty, crime, and low quality schools as major deterrents, in addition to industrial nature of the area. Two of three sports teams have indicated expectation to leave Oakland in coming years. EPS score assumes these situations modestly improve over time. Economic & Planning Systems, Inc. 3/26/2013 Page 3 of 4 P:\121000\121113MTC\Readiness_Assessment Process\PDA Readiness Assessment\DS_Readiness Assessment_032513
Figure 52 PDA Readiness Criteria Worksheet PDA name: Oakland Coliseum Version: Baseline # Readiness Criteria Category # Sub-Criterion Name Present (2012) PDA Development Readiness Scoring 2020 2030 2040 Notes E Infrastructure Capacity, Needs, and Financing 1 Existing infrastructure capacity 0.10 0.15 0.15 City has preliminarily identified major infrastructure needs for the area (up to $200M, ballpark estimate), most of which don't have funding in place. EPS score assumes early development can occur with limited improvements, while additional later development triggers greater need. A-157 2 Is there an existing CIP funded or other infrastructure financing plan in place? 0.05 0.00 0.00 Oakland has had political problems creating impact fees to fund infrastructure. Only has sewer and jobs/housing fees. Has no traffic or public art or parks or stormwater fees or inclusionary housing. Council typically opposes fees to be "business friendly," but then City often doesn't have resources to fund needed infrastructure. Projects contribute to local needs, but Citywide projects always funded by grants and bond measures. City does still have bond funds available, not likely to be sequestered by State, and Prop 1C grant money. $8.5M on Prop 1C for Coliseum Transit Village, and maybe $10M of unencumbered bond money. 3 PDA financing capacity 0.05 0.05 0.05 Redevelopment loss is an extreme challenge for this area. Vertical development has very difficult challenge with feasibility even without infrastructure burden. Economic & Planning Systems, Inc. 3/26/2013 Page 4 of 4 P:\121000\121113MTC\Readiness_Assessment Process\PDA Readiness Assessment\DS_Readiness Assessment_032513
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Draft March 2013 Strategy for a Sus
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Final Report PDA Readiness Assessme
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1. REPORT SUMMARY AND FINDINGS Plan
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Table 1 Summary of PDA Readiness As
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PDA Readiness Assessment Final Repo
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2. STUDY BACKGROUND Over the past s
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3. PDA DEVELOPMENT READINESS ASSESS
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Table 2 Capacity Assessment for Sel
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Table 3 PDA Readiness Criteria Work
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Table 3 PDA Readiness Criteria Work
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5. POLICY ACTIONS TO IMPROVE DEVELO
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A-1 Units 18,000 16,000 14,000 12,0
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Figure 2 PDA Readiness Criteria Wor
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7,000 6,000 5,000 Figure 9: Redwood
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Figure 10 PDA Readiness Criteria Wo
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3,000 2,500 Figure 21: San Mateo El
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3,000 2,500 Figure 33: Antioch Hill
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