PC 08/25/99 - Laserfiche WebLink

He advised that the acquisition of this property will allow for visual enhancement of this area, provide for expansion of the linear park, allow Zone 7 to construct new wells that are in their master plan, and provide a link of the existing park into the East Bay Regional Park District. Commissioner Roberts advised that she was given the following questions by Angie Summers who was unable to stay to hear this item: The staff report spoke of the purchase of the lots. Since it isn't buildable, why doesn't Prudential donate it to get it off of their books? Why do we have to pay for it? What is the asking price of these properties? And, why are we asked to purchase them now, and not when Stoneridge Drive was finished years ago? Mr. Swift responded that Prudential believes the property does have value. He noted that there is about one acre of land that is not encumbered by any easements whatsoever. He stated that there is not only the transportation easement, but also a gas power line and an overhead P.G.&E. power line. He advised the land is shown on our zoning maps as public and institutional, and while this is not the zoning designation that could generate the highest value per square foot, Prudential believes that if they put this property on the market, they could probably command a value of somewhere between $10 to $12 per square foot (which is probably conservative). He noted that the asking price for this land is somewhere in the $2.50 to $3.00 per square foot range. He reported that the City and Zone 7 have worked out an arrangement where Zone 7 is basically paying for the land in order to build their wells on it and Pleasanton is essentially acquiring it for a very low price. He noted that the City would be using funds from the North Pleasanton Improvement District. He advised that the total asking price is approximately 1/4 to 1/5 of the fair market value, which is about $120,000. PUBLIC HEARING WAS OPENED No one spoke to this item. PUBLIC HEARING WAS CLOSED A motion was made by Commissioner Maas, seconded by Commissioner Kameny, finding that the project would not have a significant impact on the environment, finding that the project would have a de minimis impact on the site's wildlife, and approving the negative declaration; and finding that the City's acquisition of the subject lots for park use is consistent with the General Plan. ROLLCALLVOTE AYE S: NOES: ABSENT: ABSTAIN: Commissioners Kameny, Maas, Roberts, and Sullivan, and Chairperson Kumaran. None None None - Resolution No. PC-99-60 and -61 were entered and adopted as motioned. PLANNING COMMISSION MINUTES Page 23 August 25, 1999