CCMIN091905 - Laserfiche WebLink

working on a financial support plan for this bond issuance. The largest unknown was related to the private development side because the office market is not doing well and even though absorption is doing better and vacancies are down, the rents are not anywhere near where they need to be to support the development; the hotel industry closely follows the office industry. Ampelon believes that the person with whom it contracts with will be securing all four properties would build the entire development. BART has prepared a fall back plan if funding sources are not available and if for some reason the residential and the retail are removed, which is desired to be built immediately, there will be a shortage of funds. BART'S strategy is to surface park the office building lot with the required 420 parking stalls and it would be a surface location on the Pleasanton side. When the market matures and justifies the sales price needed, the lot would be sold and a parking structure would be built. In response to an inquiry by Mr. Sullivan, Mr. Russell said BART would delay the construction of the office building and the parking garage if funding sources were not available. Mr. Sullivan asked if there were any consideration given to the loss of parking spaces at the East Dublin Station? Mr. Russell said there would be no loss of parking spaces at the East Dublin Station and the amount of parking is self sufficient for this Station. Mayor Hosterman pointed out there may be a situation where the parking structure on the Pleasanton side would not be built immediately and if that occurred, would Pleasanton would be assured that there were adequate number of parking spaces in order to function on the Pleasanton side? Mr. Russell said yes. Dublin Mayor Lockhart asked if Ampelon was using Green Building Standards and if so, how. Mr. Russell said Green Building Standards are being used to construct the Station. Part of the reason for using the translucent panels was because it allowed natural light into the concourse, thus saving energy during the daytime. He noted that some of BART's requirements are stringent and there are limits on concrete strength. Ampelon is looking at lowering lighting levels, fluorescent lighting and trying to create as many of the Green elements as possible while keeping in mind that it has to meet certain BART criteria for safety reasons related to the lighting loads. Mayor Lockhart was satisfied with Scheme B and believed it worked for both communities and served not only Dublin, but also neighboring communities. If housing is selected instead of a commercial development on the Pleasanton side, Councilmember Brozosky asked if a supplemental EIR needed to be conducted to accommodate the change? Joint PleasantonlDublin City Council 6 09/19/05 Minutes