RES 96088 - Laserfiche WebLink

C. Economic Benefits to the City The City Council finds that the Project will provide economic benefits to the City including: (a) an increase in sales tax revenues and subventions to the City; (b) an increase in property tax revenues; and (c) an overall increase in the economic vitality and growth of the City (including construction-related jobs and payrolls over an extended period of time). The Project encourages the City to grow to support an employment base of workers with diverse training, including professional, managerial and clerical workers. It also encourages industrial, commercial and office development in Pleasanton. The City Council therefore finds that the Level of Service at two Main Street intersections in Downtown Pleasanton, that segments of Interstate 580 and 680 are anticipated to violate the Level of Service standard adopted by the Tri-Valley Transportation Council, and that the BART patron parking at the two BART stations may be insufficient to accommodate ridersh~p, are outweighed by the economic benefits to the City. That is, to mitigate the LOS at the two Main Street intersections would involve widening Main Street and reconfiguring the intersections, which would be contrary to the street's historic quality and its pedestrian character, both of which contribute significantly to the economic vitality of downtown Pleasanton. To mitigate the segments of Interstate 580 and 680 so as not to violate the LOS standard adopted by the Tri-Valley Transportation Council would require Pleasanton to spend millions of dollars in fixing the Interstate highways that run through Pleasan. ton. The solution to mitigating the unacceptable Levels of Service on the Interstates is regional in nature which Pleasanton cannot reasonably be expected to mitigate by itself. BART's coming to Pleasanton is expected to enhance significantly the market for commercial and office development in Pleasanton, which will have a strong, positive impact on and for the City. With that, however,