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9.C. - Page 15 <br /> Project name: 800 High Street <br /> Year approved: 2003 <br /> Original zoning code Final project under PC Public Benefits <br /> rezone <br /> Downtown Commercial • 60 units • 10 below market rate units <br /> Service Pedestrian Overlay (CD . Underground parking • Public plaza <br /> S (P)) • 1,900 sq ft of retail • 57 public parking spaces <br /> • Max 26 housing units,with • —800 sq ft public plaza • Retail <br /> some additional BMR <br /> units <br /> Source:Author calculations from city documents <br /> The second project is called Alma Plaza. In 2007,the City approved a PC zone change that allowed <br /> the developer to replace an underutilized retail space with retail and 51 homes, 14 of them below <br /> market rate. In addition to the affordable housing, the public benefits include:preserving 15,000 sq <br /> ft of the retail space specifically for a neighborhood-serving grocery store, a 0.2 acre public open <br /> space,LEED Silver design, a public community room, and off-site transportation improvements. <br /> The project is nearly complete and is expected to be fully open in early 2013. <br /> Project name: Alma Plaza <br /> Year approved: 2007 <br /> Original zoning code Final project under PC Public Benefits <br /> rezone <br /> Original Planned Community: • 51 housing units • Guaranteed neighborhood <br /> • Commercial retail only • —24,000 sq ft retail grocery in retail space <br /> • 0.2 acre public park • 14 below market rate units <br /> • Parking • 1,300 sq ft public <br /> community room <br /> • Public park <br /> • LEED silver development <br /> • Off-site street <br /> improvements <br /> Source:Author calculations from city documents <br /> Program effectiveness:Many of these PC rezonings have faced a good deal of controversy. Some <br /> residents have expressed concerns that the PC designation is getting overused by the City, and that <br /> determining public benefits in this way is too unpredictable and does not include robust community <br /> input. There are also concerns that these zoning changes amount to a "give-away" for developers, <br /> and that the City is not receiving enough public benefits in return. The PC rezoning process also <br /> takes up a significant amount of city staff resources. <br /> The PC rezone maximizes the City control of a project and their ability to extract benefits. It allows <br /> for the greatest amount of flexibility for the City to work with developers to create a project that <br /> works for everyone. This flexibility allows for the City to look at each development on a case-by- <br /> case basis and determine what is appropriate for each. <br /> However,the process can be incredibly long and uncertain for the developer. The Alma Plaza <br /> project has taken over 15 years to complete,and the developer said he is unlikely to ever pursue a <br /> PC rezone in Palo Alto again. This has likely created a chilling effect on other developers interested <br /> in building in Palo Alto. <br /> Page 10of15 <br />