pages: CityCouncil/2014-04-15.pdf, 17
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CityCouncil | 2014-04-15 | 17 | the Chief Operating Officer - Alameda Point responded in the affirmative; stated the developer's fair share is actually $1 million per acre, excluding site grading and demolition costs; the developer would actually be paying above their fair share with the infrastructure package. In response to Councilmember Tam's inquiry, the Chief Operating Officer - Alameda Point stated about 55 acres of the full 68 acres can be developed; the total is $71 million for infrastructure plus site grading cost, which is $16 million more than the developer's fair share. The City Manager stated the value of the view has always been considered; an acre on the seaplane lagoon is more valuable than an acre in the middle of the adaptive reuse area. Councilmember Daysog stated that he wants to make sure Council and staff understand the economics of the fee, which might make more units unfeasible. The Chief Operating Officer - Alameda Point concurred with Councilmember Daysog; stated if the fee structure is not be feasible, the developer may not propose more units; expressed concern about discussing feasibility questions which become property negotiations; $91 million for Site A is a lot of money; the higher burdens are placed on residential uses instead of commercial uses. Councilmember Chen stated the Council has one chance to add the fees; the developer can offset the cost with the total number of residential units they will build. Councilmember Tam stated the community's main concern is traffic; jobs and housing create traffic; there has to be viable transit to deal with traffic issues; further stated if the penalty for going over 1,425 units is financially viable, it does not preclude the developer from going over. The Chief Operating Officer - Alameda Point stated staff has been coordinating with AC Transit as part of the Transportation Demand Management Plan (TDM); with the project description in the EIR, AC Transit may be able to add a new transit line for Alameda Point; the TDM also proposes having shuttles running to BART during peak hours; free Easy Passes paid by special taxes will also be provided to all employees and residents of Alameda Point. Vice Mayor Ezzy Ashcraft stated in addition to adding new lines, frequency of service should also be considered; inquired whether a developer building 1,000 units on Site A would still be viable. The Chief Operating Officer - Alameda Point responded that she does not know; there are different factors that affect the viability which is part of the infrastructure burden; there are negotiations to be had on land value. Regular Meeting Alameda City Council April 15, 2014 | CityCouncil/2014-04-15.pdf |