CC Min 2001-01-29 Reg - Laserfiche WebLink

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Alan Bygdnes (Audrey Lehnan yielded time) used overheads to summarize his alternate parking lot proposal. The summary slide showed the following comparison: Current Proposal Alternate Proposal Cost: $8,850,000.00 0 Annual oper./maint, costs: $200,000.00 0 Funds of current plan income: 0 $8,6M Total annual income: $21,000.00 $ 848,000.00 Annual taxable income $826,000.00 $1,674,000.00 Steven Howard made a comparison to Cathedral City where a theatre project is to be used for revitalization. In that proposal, the City is giving the developer the land, handing a check to them for $5,000,000.00 to please come, so that in the long haul it will be a better result. He stated that if parking were an issue the developer would be addressing that concern and that traffic is not a deterrent to business. The design at this point is merely a mass at this time. His vision for Saturday morning is having people stroll through the Farmers' Market in a closed Broadway Street, walking into stores or the new park and then dining at the new cafes before taking in a matinee. William Nack of the Building and Construction Trades Council stated they continue to support the project and is pleased to report that they have received the commitment in writing from Innisfree Ventures to use their highly skilled men and women to construct the project. He stated it makes sense to give the future residents of the Franklin Street Project someplace to walk to rather than driving their cars elsewhere. He stated he looks forward to working with the general contractor to provide a quality project so Redwood City can look at it with great pride. Brian Douglas asked how much the parking structure will cost and whether there will be a net to the City or a cost to the City. Rudy Luca stated he opposes the project. Although he appreciates the interest in revitalizing the downtown, he does not feel it is the answer. Safety is his concern for both adults and children and that the location is best used for something else. He stated the majority of the citizens are against the project because it will not revitalize the downtown and the retail stores it brings will not be to their liking. His questions regarded the $300,000.00 per year agreement with Sequoia Station and asked what the developer will get from this project. Ann Marie Sulzbach stated she is not against development but that the 20-plex proposal seems overkill in developing downtown Redwood City. She stated that every time she has frequented the Century 12 theatre she has encountered a traffic problem. She further stated the need for a theatre with foreign films and quality restaurants. Her questions are which quality shops and restaurants have committed themselves to being in a town with a 20-plex theatre. REGULAR COUNCIL AND REDEVELOPMENT MEETINGS JANUARY 29, 2001 MINUTES PAGE 6 MINUTES Book No.58 Page NO. 335