01 - Laserfiche WebLink

biological impacts are the same, there are no increased traffic conditions in the area over time, and staff does not believe this is necessary. Councilmember McGovern said she understands there is a project coming forward possibly in the near future and when it comes forward, she asked if the development agreement would need to be changed. Mr. Dolan said not necessarily; the agreement as written provides a framework which anticipates subsequent approvals. At this time, staff does not believe it will need to be amended. Councilmember McGovern questioned whether eight buildings of 750,000 square feet and an additional project would be allowed, and Mr. Dolan said yes; the subsequent project reduces the amount of office building to something in the 500,000 square foot range. In order to accommodate the retail, reduction of the office square footage must be done. He said the land is proposed to be displaced by a retail center of approximately 130,000 or so square feet. Mr. Fialho noted that the Council would be approving a modified PUD which would layer over the development agreement and assumes retail and roughly 500,000 square feet of commercial development. He noted there has also been discussion of the site potentially becoming a receiver site for housing to assist with RHNA obligations. Councilmember McGovern said she had asked the City Manager how many jobs equated from 475,000 square feet which was around 3,000 jobs. Mr. Fialho added that if one were to assume each employee has about 250 square feet of dedicated office space, this adds up to about 3,000 depending upon the employer. Councilmember McGovern confirmed this would not stop the City from working with the owner to review different types of development on the property, and Mr. Fialho added that he believes the owner is motivated to do this. Vice Mayor Thorne opened the public hearing. Scott Trobbe, Pleasanton Gateway, LLC, thanked Mr. Dolan for his thorough presentation, and said he has been developing a variety of buildings in the Bay Area for close to 30 years and is embarrassed that they have not been able to execute on this particular property in the last 10 years. He discussed his personal and professional motivations, noting that when they began the project in 2000, they had a lot of initial activity. They met with companies like Sun Microsystems, Cisco, and even had a meeting to set a benchmark with Mayor Pico and Lockheed to attract them to the property. But, the dot com came and the world changed. As a conservative company, they never wanted a speculative office project there, and a vacant building is worse than no building at all. Now, 10 years later there is a real estate market that is still suffering with loans, regardless of what is heard in the media. He explained that the reason they are before the Council today is because they feel they need the extension in order to provide the flexibility, given their enormous investment, to court partners, banks, and tenants. Any tenant that wants to come to the site will want to know what is happening with the rest of the site. To that end, 3,000 jobs would be a dream, but he does not believe they will find one tenant to take all 740,000 square feet. It will be in pieces, but they will want to tell their shareholders that part of the land is entitled. Mr. Trobbe stated their upcoming project will be before the Planning Commission next week. It is exciting and leads to the next step of what happens with the balance of their land. They are open and flexible in looking at other uses and would be happy to continue negotiations as the City Council Minutes Page 9 of 11 August 17, 2010