AgdaPkt 2009-09-21 - Laserfiche WebLink

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7A Page 1 REPORT To the Honorable Mayor and City Council From the City Manager September 21, 2009 SUBJECT Guiding Principles for "Stanford in Redwood City" Project (Stanford University) Development Agreement RECOMMENDATION Consider adoption of proposed guiding principles that will give direction to the negotiation process and shape the Development Agreement between the City of Redwood City and Stanford University for the "Stanford in Redwood City" development. BACKGROUND The Stanford in Redwood City project proposes to occupy a 35-acre portion of a larger 48- acre (former Mid-Point Technology Park) campus that is bisected by Broadway and generally bounded by Highway 101, Douglas Avenue, Bay Road and Second Avenue. Stanford University's conceptual design plan for the 35-acre project site calls for the demolition of 537,000 square feet of existing office research and development (R&D) space that is proposed for replacement, in multiple phases, with Stanford University administrative office uses (75% to 80%), R&D uses (10% to 1501'0), and medical clinic uses (100/0 to 150/0). Common support uses (i.e. cafeteria, childcare care center, fitness center and other employee amenities) would occupy up to 80,000 square feet of space (Attachment 2). The Project proposes a Floor Area Ratio (FAR) of 1.0 which would triple the size of the current 540,000 square foot campus and result in up to 1,518,000 square feet of building space in up to 13 commercial buildings requiring up to five parking structures. It should be noted that as a quasi-public non-profit institution, Stanford University is exempt from the payment of property taxes and School District fees. GENERAL PLAN AND ZONING AMENDMENTS The project as proposed would require City Council approval of General Plan and Zoning Map Amendments because the site's existing Industrial (Light Research and Development) General Plan land use designation and IIIR" (Industrial Restricted) Zoning District do not allow administrative office uses and currently limit the site's maximum development potential to a 0.70 FAR (vs. the request for a 1.0 FAR). General Plans are long-term, community based, land use planning tools that are not intended to change with every new market condition; rather their purpose, in part, is to ensure that the long-term needs of the community are met, including the community's need for a balanced land use portfolio to help ensure its economic health over time. Land uses are, however, allowed to change over time within the context of the underlying Zoning and General Plan designations.