CC Min 2002-12-09 Reg - Laserfiche WebLink

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same kind of support or that were consistent with the Downtown needs. It was then decided to study what else might be done to promote a better Downtown. At this time, there is an opportunity to reconfigure the project consistent with the goals set at the beginning if the project. The amendment to the DDA still has within its confines the Retail/Cinema complex as envisioned, but now has two stories of underground parking below the Retail/Cinema complex, extending out to the street that will serve the entire Downtown area. Economic Development Coordinator Webb explained in greater detail the amendment to the Disposition and Development Agreement and showed various slides to exhibit the various points. Council questions and comments ensued regarding the parking garage and parking fees. Public Comment: Alan Bygdnes made a presentation stating that two of the major responsibilities of the City Council are to 1.) Protect the financial interests and assets of all Redwood City residents and businesses; and 2.) Maintain a fiat playing field for all residents of Redwood City and their businesses. He described the building on Block 1 and cited costs involved and anticipated annual net income to both David Irmer and the City of Redwood City. He described the parking rates in the three parking garages stating that during the peak shopping hours, rates are five days a week, all day Saturday and Sunday at $5.00/hour. Customers of Mr. Irmer's building will park free at all times, seven days a week. Mr. Bygdnes stated that he believes that the parking structure rate will discourage customers from coming to downtown Redwood City to shop at the other businesses during peak hours and all day Saturday and Sunday. This would essentially convert the three City owned parking facilities into exclusive parking facilities for Mr. Irmer's project. He asked that the amended DDA not be approved, or to modify it by selling Block I to Mr. Irmer for $7.5M, let Mr. Irmer use the $20M Block 2 donation to build and operate his own garage in Block 1. Remove the amended DDA parking rate agreement and maintain the standard City parking rates for the Block 2 parking garage and the Marshall Street garage. Elizabeth Travers submitted a letter for the record, stating she is not against the concept of the theatre, but against the plan of a 4,200 seat group of theatres which she believes to be an excessive number for the location and available parking. She also expressed disagreement with Redwood City taxpayers subsidizing a proposed parking garage. Donald A. Wilson stated that for the last 30 years he has occupied the building at 928 Middlefield Road. He urged the Council to consider whether they should endorse the REGULAR MEETING CITY COUNCIL, BOARD OF DECEMBER 9, 2002 EQUALIZATION AND REDEVELOPMENT AGENCY MINUTES PAGE 6 MINUTES Book No. 59 Page No. 330