pages: CityCouncil/2010-05-04.pdf, 20
This data as json
body | date | page | text | path |
---|---|---|---|---|
CityCouncil | 2010-05-04 | 20 | application is anticipated [in the near future]. The Deputy City Manager - Economic Development responded in the negative; stated provisions in the application require very detailed information that does not correspond to the planning effort and would require too much time and expense to finalize at this time. Vice Mayor/Board Member/Commissioner deHaan stated the face value of Measure B and the density bonus option look very much the same. Mayor/Chair Johnson inquired whether the $22 million for schools has been discussed with the School District, to which the Deputy City Manager - Economic Development responded SunCal has reached out to the School District but has not had any subsequent meetings. Mayor/Chair Johnson stated the School District has advised her that SunCal has reached out but has not done anything else. The Interim City Manager stated the pro forma negotiations just include the impact fee number and do not include the larger number for capital; staff is just starting to get into more detailed numbers. The Deputy City Manager - Economic Development stated the number has not been approved or confirmed by the School District. Mayor/Chair Johnson stated everything needs to pencil out at the end of the process. In response to Mayor Johnson's inquiry, the Deputy City Manager - Economic Development stated economic advisors are reviewing all market and cost assumptions to ensure that numbers are realistic. Mayor/Chair Johnson inquired how staff is making up for the elimination of public financing and redevelopment funds. The Deputy City Manager - Economic Development responded the Internal Rate of Return [IRR] decreases significantly when public financing is taken out of the project. Mayor/Chair Johnson stated a large part of the discussion should involve what changes need to be made. The Deputy City Manager - Economic Development stated the on going negotiations involve starting to have said very serious conversations. Councilmember/Board Member/Commissioner Gilmore stated it does not appear that Special Joint Meeting Alameda City Council, Alameda Reuse and Redevelopment Authority, and Community 3 Improvement Commission May 4, 2010 | CityCouncil/2010-05-04.pdf |