pages: CityCouncil/2017-12-19.pdf, 14
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CityCouncil | 2017-12-19 | 14 | Mayor Spencer stated the market value would include any risks; inquired why the value is not being disclosed to the public. The Assistant Community Development Director responded the risks also needs to be assessed. Mayor Spencer stated Council does not have the fiscal analysis to be able to assess the risks. Councilmember Matarrese questioned what value the City is adding to the privately owned property. Councilmember Oddie concurred with Councilmember Matarrese. Mayor Spencer inquired about the figures listed in the letter received from the developer. The City Manager responded the developer could describe the letter to the Council and the public. Mayor Spencer requested the letter be displayed for the public's view. The City Clerk noted the letter is available online. Tim O'Hara, Tim Lewis Communities (TLC), gave a Power Point presentation. Mayor Spencer inquired how the disabled would access the area. Mr. O'Hara responded the disabled parking would be on ground level and meet requirements; continued the presentation. Mayor Spencer inquired whether there is a guarantee that the tax increase will not affect people outside Encinal Terminals in the event of a shortage of funds. Mr. O'Hara responded in the affirmative; continued the presentation. Councilmember Oddie inquired whether the down payment assistance program will go away if the $15 million is not achieved. Mr. O'Hara responded in the affirmative; stated the value created by the proposed plan allows the developer to provide the benefits to the City. Councilmember Oddie stated Council has not been given the value of the project in its totality with the land swap and without it; inquired how the City will know if it is receiving the value. Regular Meeting Alameda City Council 12 December 19, 2017 | CityCouncil/2017-12-19.pdf |