Res85 9872 - Laserfiche WebLink

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SWC:sh SWC:sh 4/30/85 5/06/85R found acceptable by reason of the overriding considerations hereinafter described. (k) This Council has balanced the benefits of the proposed Project against the aforesaid unavoidable environmental risks in determining whether to approve the Specific Plan. This Council hereby finds that the following overriding considerations require approval of the Specific Plan notwithstanding the occurrence of the aforesaid significant effects which cannot reasonably be mitigated: (1) The proposed Project will strengthen the local and regional economic base, and stimulate the local and regional economy through the creation of new businesses and employment opportunities in that it provides for substantial office and research and development activities. Such economic support is necessary to meet those present and future population demands locally and regionally. The proposed Project will create approximately three thousand (3,000) to four thousand (4,000) new jobs (Specific Plan, citing Traffic Study) . Construction of the office park will also stimulate the local economy and create construction jobs. The completed project will generate increased property taxes. to the City of Redwood City of approximately Two Hundred Ninety Two Thousand Dollars ($292,000) (based upon 1975 estimates) . In addi tion, the property tax revenues payable to GID 1-64, based upon 1975 estimates, will be over 1.6 million dollars. (EIR p.164) . (2) The Specific Plan will insure that the Project site is developed in a well-planned manner, will be aesthetically attractive, and will create a positive image of the City for the attraction of future planned development in the City of Redwood City. (3) Approval of the Specific Plan will provide a reasonable balance between the exercise of private property rights by the land owner, and the interests of the public in mitigating the effect 7 98f72