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property. The value of that eleven cents will go down in the future. He referred to Mr. Finch who said he had lived here 34 years and said eleven cents could have bought something 34 years ago, but not today. Thirty years from now at the end of the bond period, eleven cents won't be worth much, but owning 430 acres of property will have a significant impact on the property values and quality of life in Pleasanton. He commended staff and the Task Force for all the work. Ms. Michelotti asked what process would be followed regarding the recomnqendations of the Task Force if the bond measure passes and how long would that take. Mr. Swirl said the Task Force would be activated and would then work on allocating uses to the property and in what locations in relation to each other. He had no idea how long that process would take. Additional information would have to be gathered and other agencies like the School District or the ACE train would have some input as well. Once the plan is finalized, a CEQA process would be initiated. Relevant Boards and Commissions would then review the plan prior to placing the plan on the ballot for approval of the voters. The land plan could include a process whereby a subsequent land use would be approved by the voters or normal city review processes for the final plan. For instance, if a conunanity sports park is incorporated in the master plan and it is fifty acres in size, not all the details would be set out in the master plan. Soccer fields may be built today and in the future they may be changed to gardens for the seniors as the demographics of the City changes. He assumed the master plan would address how the evolutions would take place and how the approvals would be handled. Ms. Michelotti then referred to the commercial/office acreage set aside and asked if it could be shaped differently than on the current map. She was coneemed about preserving the view of the hills across the property from the intersection of Valley and Bernal Avenues. Mr. Swirl said that could be addressed at the entitlement process; however, if Council had particular concerns, they should be added to Exhibit A. For instance, the preservation of the view could be added as a requirement or could be worked out with the high bidder. The one weakness in this process is that a high bidder would have submitted a bid based on the parameters listed in Exhibit A, the PUD and the Specific Plan. If that bidder really wants a three story hotel at that intersection where Council wants a view of the hills, there will be some debate over what happens if the land use is moved. Does that mean the bidder does not pay the $50 million or that some other tradeoffmust take place? Council has some discretion and staff will make it very clear to the bidders that a lot of discussion will be involved. Council is not giving carte blanche approval. One aspect of developing the boundary of the commercial area is to try and maximize what a developer will bid for the property. If it were all office, it is fairly easy to calculate what the property would be worth, however, the property is probably more valuable if a portion of it is used for some types of commercial uses. There have been many comments from the community that a gas station is needed somewhere along Bemal and he described the location most station owners would prefer and whether the view could be protected. Pleasanton City Council 15 02/15/00 Minutes