RDA Min 1994-12-19 - Laserfiche WebLink

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. . II County receive the same amount of tax increment they were receiving before the project came in, and, the affordable housing share which comes to the Agency, and that was 20% - about $40,000 to $50,000 every year. In addition to receiving the same sales tax before Sequoia Station was adopted, the City is receiving 50% of the sales taxes that are new sales taxes, which is a very substantial amount. There is a significant return on the investment in Sequoia Station right now. Director La Berge also spoke about the intangibles, quality of life issues, that Sequoia Station has brought to the City; and repeated the comments of her neighbors and friends who appreciate and are proud of Sequoia Station. Chairwoman Gasparini called on speakers who submitted cards after the discussion began. John Mooney, 980 Pleasant Hill Road, Redwood City, stated that Sequoia Station provided very little new employment, that a lot of its jobs that have transferred ttom other places in Redwood City. Mr. Mooney stated that the project was at best a break even position, and was not successful ttom an economic point of view. Mr. Mooney added that the subject site was not a blighted area. Mr. Mooney asked that there be an idea of cost, return and community benefits before the subject project goes forward. City Manager Everett advised that the information the speakers have requested will be available as soon as the Agency Board approves a developer and staff begins negotiations. -- Until that happens there is no way to obtain the data that everyone wants. TITLE READ. MIS: SANFILIPOILA BERGE RESOLUTION NO. RD 94-23 OF THE REDEVELOPMENT AGENCY OF THE CITY OF REDWOOD CITY SELECTING DEVELOPER FOR PROJECT AT NORTHEASTERLY CORNER OF THE INTERSECTION OF EL CAMINO REAL AND JEFFERSON AVENUE ADOPTED BY THE FOLLOWING ROLL CALL VOTE: AYES: DIRECTORS HARTNETT, HOWARD, LA BERGE, SANFILIPO AND CHAIRWOMAN GASPARINI NOES: DIRECTOR STEINFELD ----------------------------------------------------------------------------------------- B. 101 Corridor Redevelopment Project Area Receipt and Approval of Preliminary Plan (1401-21) REPORT: Redevelopment Agency Executive Director, December 19, 1994 Director Church presented the staff report, described the Preliminary Plan distributed at the Meeting, and explained this step in a long series of steps leading to the adoption of the 101 Corridor Redevelopment Project Area. The Plan is not a land use plan, it is a legal document that includes the boundary descriptions. The Agency is being asked to - MINUTE BOOK NO.1 Special Redevelopment Agency Minutes Page No. 243 December 19, 1994 Page 3