SPECIAL MEETING AGENDA PACKET - Laserfiche WebLink

THE CITY OF pLEAS4NTON CITY COUNCIL AGENDA REPORT SPECIAL MEETING ATTACHMENT 1 August 29, 2017 Community Development Planning Division TITLE: INTRODUCE POLICY DISCUSSION RELATED TO THE PROPOSED JOHNSON DRIVE ECONOMIC DEVELOPMENT ZONE (JDEDZ) REGARDING THE TRAFFIC AND TRANSPORTATION MITIGATION IMPROVEMENTS PHASING AND FINANCING PLAN OPTIONS SUMMARY This item is intended to facilitate policy discussion about the timing of future development and financing of the required traffic and transportation mitigation improvements for the JDEDZ. The JDEDZ involves a proposed change to existing land use policies and regulations (amendments to the General Plan land use designations and zoning) designed to spur investment in 40 acres of mostly underutilized land primarily fronting Johnson Drive near Interstate 680 (1-680) and Stoneridge Drive (Figure 1). Costco (defined as a "club retail" land use), as well as business -class hotel operators have expressed interest in properties within the proposed JDEDZ; however, no development applications have been submitted at this time. A Final Supplemental Environmental Impact Report (FSEIR) was prepared in March 2016, which evaluates the potential environmental impacts of the project and identifies mitigation measures to reduce or eliminate these impacts. A major component of the mitigation required for the JDEDZ involves transportation system improvements in the vicinity of Interstate 680 (1-680), Stoneridge Drive interchange, and Johnson Drive. BACKGROUND Economic Development Zone Concept & Johnson Drive Effort Consistent with several General Plan policies, the Economic Development Zone (EDZ) concept was endorsed by the City Council in April 2014. At that time, Council also initiated the evaluation of a pilot EDZ along Johnson Drive. Property in the area has long been used for industrial and limited office purposes, and was occupied by the Clorox Corporation, and the area continues to house AT&T, FedEx, and several other businesses. Over 20 acres of the JDEDZ area are currently vacant because of Clorox's departure. Key goals of the JDEDZ include: • Transforming the area into a thriving commercial corridor that capitalizes on its location at the intersection of the 1-580 and 1-680 freeways; • Creating opportunities for new land uses and services in the community to broaden the City's economic base, thereby generating new tax revenue to support City services and programs; and