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Rennels: Let's talk about the context of this. The reality is that we had one opportunity to build this station and this one opportunity was predicated on value capture and creating value to enable us to pay for the bonds that we issued to pay for this station. It was a public/private partnership. The City of Pleasanton participated. The City of Dublin participated. Alameda County Surplus Property Authority participated and my private sector development partners participated. So the reality, sir, was that if in fact we did not have the opportunity to do this public/private partnership, this station would never have come out of the ground. Commissioner Nagler: You're not really answering my question. Rennels: The reality is, without doing what we are doing, we couldn't have built the station so it's not like this parcel we're talking about tonight which is Workday it could not have all been put in parking. Commissioner Nagler: No, I appreciate that. I guess I'm asking system-wide, as a matter.... Chair Ritter: Let's bring it back.... Commissioner Nagler: Okay, okay, fine. I'm just trying to figure out what the perspective of the system is. Okay, so as it relates to this specific project, was it part of the conversation in figuring out how to build out the Workday garage site to try and address the inadequacy of parking for BART customers at this site? Was that ever part of the conversation? Rennels: It was discussed from the standpoint of enhanced access to this station and that was how it was discussed. Given the magnitude of their contributions I want to call it exactions that they are paying the shared police facility, the opening of the stairway, the payment of the plaza, the payment along the westerly side to allow for pedestrian/bicycle access there. The bottom line is that in allowing our substation to continue to be there, that's a critical element, and building over that and the cost associated with building over a 35 KV high utility line has cost and allowing for us to have 24/7 access. The magnitude of what Workday has incurred to be able to build this at some point in time having done this for 24 years as I indicated at BART, there is a limit as to how much you can expect before they say, `maybe we'll go elsewhere.' Commissioner Nagler: No, it's a great project. It is a great project. I'm just trying to address this one issue. So let me just ask you a final question and then I'm done. Can you give me a sense of what the timing is on resolving or coming to some fruition the conversation you're having with the Stoneridge Mall? Rennels: That's separate from this transaction and it's in the initial stages of discussion. Commissioner Nagler: Okay, thank you. Chair Ritter: Okay, any more speaker cards? All right, I'll bring it back to Planning Commission and staff. Thank you for your service to BART. If any Commissioners have questions, or do we want to make a motion? DRAFT EXCERPT: PLANNING COMMISSION MINUTES, April 13, 2016 Page 6 of 9