pages: CityCouncil/2007-01-02.pdf, 28
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CityCouncil | 2007-01-02 | 28 | Mayor Johnson inquired whether there is a way to accelerate getting to the $425,000. Mr. Marshall responded the acceleration would need to be introduced as the project proceeds with the TDM Program; stated the right outcome would be to not accelerate to $425,000 in advance of the project build-out level; some portions of the project might not come online for some time; five years from now the CPI inflator is going to be a significant component; inquired whether Council was suggesting to increase the $425,000 by CPI and also add another 15%. Mayor Johnson responded Council is trying to put something into the deal to help accomplish the goals. The Supervising Planner stated the 15% augmentation is for a shorter period of time. Mr. Marshall stated $13 million would be contributed to the TDM Program over a thirty-year time span based upon the $425,000 per year uninflated cost. Councilmember deHaan stated the Harbor Bay development had a requirement to subsidize the ferry service at $100,000 the City has put a lot of money back into the project; hopefully, everything will be successful; the measuring device is the real concern; the day-one concept should not be lost. Councilmember Matarrese stated one alternative to accelerate getting to the $425,000 is to go with the CPI in year five if criteria are not met and the project is successful; it would make sense in year five because Alameda Point may be closer to being developed and becoming a contribution; the delta between year five and ten becomes more important than waiting X number of years to get to the $425,000. Councilmember deHaan stated transportation problems need to be mitigated. Mayor Johnson stated options should be listed regardless if an option is not preferred so that staff can bring back the ordinance. The Base Reuse and Community Development Manager stated one suggested option was a 15% increase on where the budget stands at year five; the 15% is on a pro rata basis and is a slight variation of a straight up 15% and would work better for the City financially. Regular Meeting Alameda City Council 28 January 2, 2007 | CityCouncil/2007-01-02.pdf |