CC Min 2013-04-08 - Laserfiche WebLink

Browse Search

having Pete's Harbor work with Stanford. It contains information regarding a development proposal. He also mentioned that what transpired earlier (at the meeting) was not acceptable and that the Council needed to work more on its guidelines. Eric Lochtefeld and Lori Lochtefeld stated that they were pleased to see the thoughtfulness in this project. They also congratulated Parks, Recreation and Community Services Director Chris Beth on his fundraising efforts. They also mentioned that they are glad that Stanford will be providing resources for higher education and afterschool programs. One Council Member said that he was not on the Council when this was launched and thanked the Subcommittee, City staff, and staff at Stanford. He stated that the Guiding Principles represent a true partnership that plays on strengths. Furthermore, it moves both organizations forward, and he appreciates knowing that behind the scenes there is a lot of flexibility in the project. Another Council Member thanked the Subcommittee and felt that the principles aligned with the goals of the Council. He asked several questions for clarification on the amount of money that will come in the first five years. Mr. Ekern answered that the education money will be provided the first five years. The rest of the money comes as the development moves forward. The same Council Member then asked if the $15 million in 30-years would be the amount that the City will receive. Mr. Ekern replied that there are inflation factors that go into the amount. Another question asked was if there were other developments similar to this agreement that the City can compare and contrast against. Mr. Ekern again answered that he did not think anyone can ever really know because there are various agreements, and so, there are various results from those agreements. The Council Member concluded with wanting to know if there was any more financial analysis for the City, particularly in the downtown area. Dr. Robert Bell, City Manager, added that the purpose of this item was to capture the main viewing points and run it by Council. He said that there will be more financial information later on. One Council Member from the Subcommittee spoke about the committee and Stanford trying to determine how to implement this project. He is excited that there are some parts of the agreement that are only unique to Redwood City. He further said that Redwood City, unlike other cities, was more interested in sustained programs. Another Council Member pointed out that the site of this development has mostly been vacant. However, with the increase of jobs in the area, the economic impacts to Redwood City would be great. She wanted to focus on what the City was getting, not necessarily the details. One Council Member stated that it was helpful to hear the Subcommittee's perspectives. But, she was concerned with the 30-year timeline and would like more data. She stated that amount of time was a long period of time and wants to feel comfortable that they made the best deal for the community. She valued the long term CITY COUNCIL April 8, 2013 MEETING MINUTES PAGE 9 MINUTE BOOK NO. 64 Page No. 323