11 ATTACHMENTS 6-9 - Laserfiche WebLink

o These traffic improvements will be more than needed for Phase I of the EDZ as they will be constructed to accommodate 100% of the trips at full build-out of the EDZ • How do we respond to comments that the City is giving up money for Costco? o Finance Director Tina Olson responded the City is not 'giving up money' but is collecting funds through sales tax revenues and an advance from Costco that will help pay for transportation improvement costs required up front. This will be used along with regional transportation fees that have been collected from other developments to add the needed improvements. o A transportation fee will also be assessed on future development within the EDZ as payment toward Costco's advancing of funds o Angela Ramirez Homes commented that Costco is expected to bring less than half of the EDZ's traffic —about 44% - but is paying more than 44% of the transportation improvement costs. • If Costco is putting forward the money and sales tax revenues will be used to pay Costco back over time, is all of the sales tax going to Costco? o Tina Olson explain that it will be a 60% (City) /40% (Costco) split, wherein approximately $600,000 will go to the City initially as Costco is reimbursed over a maximum of 25 years • Has there been discussion about the job creation that will come from the EDZ? o Planning Manager Adam Weinstein noted the analysis showed a long-term net increase of 780 workers in the EDZ; Angela Ramirez Holmes offered that Costco by itself will create about 250 jobs o Construction jobs created within in the zone are additive to these estimates o City staff should create a talking point similar to "The project created X jobs over X time" to demonstrate value of the project • If the EDZ is approved when will the traffic improvements be done? o Mike Tassano: when the Sunol interchange is complete, then the Stoneridge Drive onramp will be done o Another improvement will be a second southbound turn on to Owens Drive from Hopyard Road near the new Chick-fil-A o Mike Tassano: the City is also ensuring that bicyclists are accommodated in the improvements as part of the City's Complete Streets program • What is the timeframe for the project, particularly Costco? o Staff anticipates the process of working with CalTrans through the design of the 1-680 onramp will take up to two years, followed by construction of the improvement over another 1-2 years, so estimating Costco will open in approximately 2020-2021; Angela Ramirez Holmes noted the city manager would like to see an earlier opening date o It was also noted that during the Council's transportation improvements financing discussion there was interest in allowing the installation of the improvements to happen simultaneously with construction of the Costco building • It would be beneficial to have an easy-to-understand FAQs to give the community an awareness of the construction. o In addition, or incorporated into the FAQS, could be a flier that is translated into other languages so all residents can be informed Chair Barbara Steinfeld asked if, and how, how the committee would want to offer support for the EDZ. It was moved and seconded that the EVC recommend to the City Council support for