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8.A. - Page 8 of 12 D. Opportunities to consider community needs and policy goals through creation of a future Transit Sub -District In addition to launching a City -led community visioning process to establish new zoning for Central Redwood City, staff recommends developing a Transit Sub -District to help address several City goals. This is time sensitive as the rail and transportation efforts described above all impact, or are impacted by, Sequoia Station. Staff recommends that the City Council consider the creation of a Transit Sub -District at the January 27, 2020 City Council meeting. Developing a Transit Sub -District would be a significant undertaking, but staff believes it important to do this for several reasons. First, a developer is actively collaborating with both public and private owners of property within Sequoia Station. It would be helpful to the City to coordinate with one representative on behalf of multiple interests versus multiple representatives. In addition, the redevelopment of Sequoia Station could address expensive right of way acquisition needs associated with a new transit station and new rail lines. Enhancing the feasibility of having quality, more frequent bus and rail service in the heart of Redwood City would directly contribute toward the City's climate action and transportation policy goals. Revitalizing and updating the retail portions of Sequoia Station could benefit both residents and City sales tax revenues. Several long-term leases will be up around the same time, which provides flexibility that is not common with centers of this size. A redesign of the center could allow for "placemaking" - enhancing the connection between Sequoia Station and the remainder of downtown rather than having Sequoia Station turn its back to downtown. Additionally, a new approach to Sequoia Station and the transit center could support safe travel for those biking or walking, and address infrastructure needs, such as extending recycled water service further into the community. A new land use pattern could be helpful to address anti -social activity. Finally, the strong market demand for office uses directly adjacent to the rail station could subsidize substantial affordable housing production which is well served by neighborhood retail and transit. Grant funding for housing and for planning studies typically is tied to such development patterns, positioning the City well to seek such funding. A Transit Sub -District would identify the long-term vision for downtown transit service in coordination with regional transit partners (Caltrain, Samtrans and potentially Cross Bay Partners) and with substantial community input. A staff -level working committee would develop a scope of work, framework for decision-making, and funding plan to complete this work. Once a work plan is approved, the community visioning and engagement process would commence and would inform the recommend the new Central Redwood City Plan. E. Pending development requests which would require amendments to the current General Plan. Redwood City is a desirable place to be, and real estate development demand currently is very strong, particularly for office development. At the moment, Redwood City has the top office lease rate in the Peninsula. Unlike prior boom times in the region, proposed development projects typically have tenants and are not being built on speculation. 8of11 City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.ore 121