City of Alexandria, Virginia
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MEMORANDUM
DATE: JUNE 18, 2025
TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL
FROM: JAMES F. PARAJON, CITY MANAGER
DOCKET TITLE:
TITLE
Resolution Approving the Execution and Delivery of a Support Agreement and Performance Agreement for Alexandria Redevelopment and Housing Authority (ARHA) [ROLL-CALL VOTE]
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ISSUE: Passage of a resolution to provide a City "moral obligation" for Virginia Resources Authority (VRA)-issued bonds to ARHA, in an approximate total amount of $56,000,000, to enable acquisition of The Alate development as a permanent housing relocation resource for residents of the Ladrey Senior Highrise (Attachment 1).
RECOMMENDATION: That City Council pass the Resolution and authorize the City Manager to move forward, subject to the following:
1. Completion of remaining City due diligence related to key factors of ARHA's funding and relocation plans, including its plan for current Alate residents, as well as Code Administration's assessment of The Alate;
2. Execution by ARHA of the City Performance Agreement, including all indemnification and collateral conditions stipulated to mitigate City financial risk (Attachment 2);
3. Execution of a Support Agreement Among VRA, ARHA and the City providing the City with the ability to sell the property in the event of ARHA's default (Attachment 3);
4. That through September 2026, ARHA provide monthly written reports regarding the project to City Council, including:
a) The status of residents living at The Alate at the time of acquisition, and updates regarding programming being offered there;
b) The status of relocation of all Ladrey residents, including those transferred to The Alate and elsewhere;
c) ARHA's signed contract with a qualified third-party property manager, effective as of August 9;
d) The status of ARHA's progress in completing the process to project-base 100+ v...
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