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Councilmember Ayala asked if the Emerald Fund would benefit from the profits of this development. Mr. Cashman said the Emerald Fund is a result of World War II military land conversions. Alameda County ended up with owning 1,000 acres, mostly in Dublin, but some in Staples Ranch and Livermore. It was vested in the Surplus Property Authority, which had a license to develop the property to make a profit for the County and benefit the surrounding communities. The early stages of Staples Ranch were the first development that the Surplus Property Authority did. To date the Authority has developed approximately 2,100 units, 4 million square feet of commercial development and has made a profit for the County of $250 million. The County isolated this capital account for capital developmem projects. The only thing that can be spent is the interest earnings. The interest on the bond fund is substantial. The County has set this money aside in order to build and keep going with a capital development fund. Commissioner Roberts asked Mr. Swift asked if the General Plan indicated that the proposed Staples Ranch Specific Plan had to be eliminated. Mr. Swift said the General Plan comes fa'st and then any Specific Plans. James Paxson, 4473 Willow Road, Suite 105, Pleasanton, representing the Hacienda Business Park Owners Association, suggested there are sites labeled 2-4 that can be taken off the map for consideration. He wanted to make sure each Councilmember and Commissioner read the email he had sent earlier in the day. The West Los Positas Corridor that was identified in the preliminary study, which was discussed in the Planning Commission meeting earlier, has potential and merits the opportunity to go forward with some additional study. Sites in the Business Park have current entitlement and they are very open with the applicants heard earlier to discuss how entitlement transfer can occur. Commissioner Roberts said the emall had been received. The Planning Commission voted on the stand-alone sites, but the Commission is well aware that more studies need to take place for the West Las Positas townhouses. Commissioner Sullivan asked for clarification regarding the Shakley property. Mr. Paxson said two key studies that the Business Park Association is conducting are to look at the financial feasibility and economic feasibility of doing comprehensive mixed use. Based on the consultant's preliminary remarks, the Association sees that particular project as fitting in within the context of what is being discussed. This is going to be a very significant component of what is going to be coming forward as a result of the study. They are moving very hard to get the date to everyone. They met with the consultants today and they are pushing forward and getting a lot of comprehensive data that will give the type of assurances about what types of projects will work in the area. At the same time we will also be able to see how the pieces fit together. In terms of the recommendations coming from staff that nothing be allowed to proceed on a parallel Minutes of the 13 06.29.04 Joint Workshop City Council & Planning Commission