AgdaPkt 2000-12-04 - Laserfiche WebLink

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s.tores. );> A 4,200 seat, 20-screen cinema on the second floor. Access will be from the Broadway and Middlefield corner. );> The building will contain a total of 160,453 square feet and will be sixty feet in height. On block 2, the developer proposes: );> A 1,000 space public parking garage. );> A 108,000 square foot office building. This proposal was considered in the Final EIR as Alternative number four. Traffic The draft Environmental Impact Report (DEIR) devotes 60 pages to the discussion of traffic impacts. It concludes in part: 1. There are multiple access points to the project site, including highway 101, EI Camino, Broadway, Middlefield and Jefferson. The current Century Park 12 site has one way in and out. 2. Anticipated traffic to the project is expected to be quite evenly distributed along these access points, with the largest percentages coming southbound on 101 (16%) and northbound on 101 (18%). Parking The consultant looked at all available public parking spaces within a one thousand-foot radius of the cinema. The supply of parking was then compared to the need for parking at different times. The proposed project will have a 1,OOO-space garage. The peak times for movies are on Friday and Saturday evenings from 7:00 to 10:00 p.m. During this time period there is a surplus of spaces ranging from 179-319. There is a deficit of 263 parking spaces on Friday from 1 :00 p.m. to 3:00 p.m., which is a function of normal downtown activity. This is the slow period for the cinema. There will have to be some mitigation for the deficit during this period. State of the Entertainment Industry Attached is a memorandum from Tim Kelly of Keyser Marston Associates discussing the trends in the entertainment industry. Tim concludes that: );> The mid-peninsula area is under-screened. This will be the only state-of-the-art commercial theater between Highway 92 and Mountain View. Additional screens can be built without exceeding demand. In the attached memo, the data on ticket sales per screen indicates that Century Park 12 is currently generating $875,000 per screen compared to Century's national average per screen of $350,000. . );> 20 screens will replace 12 existing screens at Century Park 12. Only 8 new screens are added and only 700 net new seats. );> Century is a financially strong business. It has not followed the "expand at any cost" model that has created difficulties for many cinema operators. Representatives of Century Cinema's will be available to answer any questions which the Councilor community may have on this issue (Based on articles we have sent to you previously, it is apparent that Century and National Amusements are two of the strongest performers in the industry). Economic and Fiscal Analysis The Economic analysis addresses the question, "what benefits result from the project?" In summary, the economic analysis concludes: 1 . Downtown entertainment centers have had positive impacts in other cities where they have been recently developed. Positive impacts include increases in surrounding business volumes, signifying a strengthening of the local market.