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8.A - Page 3 <br /> City Council, possible project examples have also been provided in order to better <br /> illustrate the potential benefits. <br /> Category Funding Example Projects Goal <br /> Neighborhood Streets $1,500,000 e.g. Streetlights, Provide additional <br /> Enhancement Program traffic calming, street improvements to <br /> trees, etc. augment <br /> environmental <br /> requirements <br /> Community Sustainability $4,000,000 e.g. Housing loans, Provide important <br /> energy conservation, community benefits <br /> senior programs, etc. <br /> Transportation Funds $550,000 Bus shelters, bicycle Improve transportation <br /> lanes opportunities <br /> Infrastructure $2,500,000 New water tank, Assist in providing <br /> Contributions flood protection critical systems <br /> Education and $1,500,000 e.g. Recreation Improve the social <br /> Community Programming center, education environment <br /> grants, event <br /> funding, etc. <br /> Beyond this summary of the various tangible benefits it is important to recognize the <br /> long-term value of the City's partnership with the University. These investments by <br /> Stanford show its commitment to a mutually-beneficial, ongoing relationship with the <br /> City and the community. They create significant long-term marketing opportunities for <br /> both organizations to demonstrate a progressive, sustainable vision of urban growth in <br /> Redwood City. <br /> Fiscal Balance <br /> It is acknowledged that with Stanford owning and occupying the new development as a <br /> tax exempt entity there is a property tax reduction. However, there will be new tax <br /> revenue associated with the new buildings. There will also be job generation through <br /> both short term construction and long term office employment that will lead to new sales <br /> tax revenue and other indirect spending benefits that come with employee growth in the <br /> area, such as new business startups. <br /> In addition, the project will extend the City's recycled water system from Bayshore <br /> Freeway to the project site to accommodate Stanford's development needs. Ultimately, <br /> this could create new opportunities for the City to sell and distribute its recycled water, <br /> once the City completes its own environmental analysis of the impacts of expanding the <br />