AgdaPkt 2010-11-08 - Laserfiche WebLink

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�.B Page 62 measureable ways, support and enhance the local economy, and provide for the long-term nature of the Project. D. Plan Integrity: The Development Agreement should recognize and support the concepts, vision and intent of the Stanford in Redwood City Project as depicted in the final Precise Plan that will be considered for approval by the Planning Commission and the City Cauncil. The City and Stanford recognize that the Project will be a phased development implemented over a period of up to 30 years. CATEGORIES OF COMMUNITY BENEFITS AND PRINCIPLES SPECIFIC TO THOSE CATEGORIES 1. Fiscal and Economic Impacts. The fiscal and economic impacts of the Project will be evaluated in a Fiscal and Economic Impact Study commissioned by the City. The Deveiopment Agreement should: • Recognize that the Stanford in Redwood City Project will remove industrially zoned land and improvements from the City's property tax rolls for those properties occupied by Stanford, which has the potential to impact City resources and services over the long term; • Consider the project's relationship to the City's housing, educational, and childcare needs and resources; • Recognize that the proposed entitlements will substantially increase the potential development capacity of the project site and could increase the value of the project site; • Recognize that the Stanford in Redwood City Project has the potential to enhance City and local business revenues through sales, development fees and economic activity associated with construction activity as the property is developed over many years; • Recognize that the Stanford in Redwood City Project has the potential to bring long-term, high-value jobs to the City which will enhance City and local business revenues throu�h increased economic activity in the City; • Support and enhance the Project's ability to increase local business activity through transportation connections which increase accessibility from the Project site to downtown I Redwood City; and ' � Support and enhance the Project's ability to promote a healthy and diverse Redwood City economy. � 2. Transportation, Linkages and Parking. The Stanford in Redwood City Project will be I part of an integrated City and Project approach to improving overall neighborhood mobility that , will benefit Project employees, future tenants, and residents of the adjacent neighborhood. The Development Agreement's terms should: � Support the City's and Stanford's robust efforts to discourage travel by single-occupancy vehicles through vigorous promotion of all forms of mass transit as well as cycling and walking;