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<br /> REPORTER'S TRANSCRIPT OF PROCEEDINGS TAKEN 5-24-04 <br /> 1 MR. BIGELOW: Jim Bigelow with the Redwood <br />I 2 City San Mateo County Chamber. We followed this <br /> 3 development as it has evolved and changed over the <br /> 4 last few years and find it to be - - ended up being <br /> 5 a very nice positive addition to the community. <br /> 6 Why is it that the housing, median housing <br /> 7 lS 525,000 for a starter home as advertised in the <br /> 8 paper? And the reason is, we have too many <br /> 9 employees that live outside of our county, work in <br /> 10 our local cities, and we don't have the housing. <br /> 11 In order to solve that, the Marina Shores <br /> 12 provides an opportunity. It provides an <br /> 13 opportunity for two or three reasons: One is, <br />( <br /> 14 condominium construction has been very difficult to <br /> 15 get builders who will come into a City and build <br /> 16 it, because of what's been going on statewide. <br /> 17 Glenborough-Pauls is a very strong quality <br /> 18 company, they're willing to come in and do a <br /> 19 condominium-type tower type building. <br /> 20 Also, when you look at the transportation <br /> 21 issues, they are committing to $10 million to <br /> 22 assist with other funds that would become available <br /> 23 to address a number of the transportation concerns <br /> 24 that we've talked about. <br /> 25 What I would like to do is on a personal <br /> UCCELLI & ASSOCIATES 108 <br /> (650) 952-0774 <br /> .- , <br />