CCMIN111505 - Laserfiche WebLink

It was moved by Mayor Hosterman, seconded by Mr. Sullivan, to authorize the City Manager to execute the Funding Agreement in final form as approved by the City Attorney subject to operating expenses and revenue from the Station being well defined and the reserve established by the Cities of Dublin and Pleasanton and the County of Alameda to only be used as a last option for potential funding to include an accountability trigger that requires BART to inform the City of Pleasanton before using that reserve. Mr. Sullivan believed the proposed Funding Agreement was a better deal for the City as opposed to the 2000 Memorandum of Understanding. He supported including the safeguards as previously mentioned by Ms. McGovern. He understood the regional transportation benefits in building the West Pleasanton/Dublin BART Station in close proximity to the existing BART station and saw an economic benefit for Pleasanton and potential synergy for Stoneridge Mall. He did not believe construction of the West Pleasanton/Dublin BART Station made sense as a solution from a strategic transportation standpoint for the Tri-Valley. Ms. McGovern believed it was important to point out the amount of development that would occur in the Tri-Valley in the next 20 years. It was also important to point out that the City currently has the funding available to provide BART and with respect to the 2000 Memorandum of Understanding, the funding was only going to be provided if the development occurred, and she believed this was an appropriate change for BART to be able to build sooner rather than latter. She was looking for solid definitions as to how the City's money could be used, when it could be used and notification of when it was used. Mr. Brozosky did not believe the proposed location was the most appropriate location for a BART Station; however, the project would be a public/private partnership and an opportunity for Pleasanton. He asked if the intent of the motion was to recommend that BART not be authorized to use any of the funds for operating expenses or was the matter to return to Council if the funds were to be used for operating expenses? Mr. Fialho said the way in which staff was approaching this was that all of the revenue that was derived by BART would be used to pay operating expenses and potentially debt service. If the revenue fell short and only if the revenue fell short would BART be able to utilize the Pleasanton and Dublin reserve. Ms. McGovern asked why the developer had not been asked to support any costs that might be needed by BART to keep the West Pleasanton/Dublin Station open? Mr. Reynolds said the developer is making a significant up-front capital contribution as well as making participation payments for revenue streams based upon performance. Mayor Hosterman said the most compelling reason to support this motion was the fact that the City had many large employers and hopefully future employees would be able to make use of the West Pleasanton/Dublin BART Station, which would decrease traffic. Pleasanton City Council Minutes 26 11/15/05