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give the Downtown an additional 100 parking spaces. He questioned the methodology used by the PDA to arrive at the land cost of $35 per square feet, as he did not believe land has been selling in the Downtown for this amount and has not been for years. He also refuted a statement made by Mr. O'Callaghan with regard to the total estimated cost per parking space of $13,901, which was lower than the City's estimate. He believed it was important as to how the Council uses the Parking In-Lieu Fee Program. Vanessa Kawaihau, a Happy Valley resident, mentioned that several months ago the one-acre parcel between Ray and Spring Streets was going to be considered surplus and auctioned off by Alameda County. She asked staff if it was following this and if it was going to make a bid on this piece of property as it could potentially be used for public parking and facilitate the Trails Program in the Downtown area. She noted the importance of having additional parking in the Downtown for those who like the convenience of shopping in small stores. Peter MacDonald, a Pleasanton resident and business owner in the Downtown, supported the PDA's recommendation and concurred with Ms. Revelli's comments. He pointed out that a key part of the Downtown Specific Plan is to provide public parking lots in the Downtown. The PDA wanted to get away from blanket parking waivers where one development gets waived. He noted that In-Lieu fee only applies to the final 30 percent of the parking as the first 70 percent of parking is provided on site. For developers who wish a waiver below 30 percent in-lieu, he believed the City was developing and creating a Parking Garage In-Lieu fee. If the Downtown is to be successful in the future, it must involve some intensification and shared public parking lots. Mayor Hosterman asked Mr. MacDonald if the PDA's estimate for the total estimate cost per parking space not only valued the property but also worked to achieve a balance between the amounts per parking space with the needs of business downtown. Mr. MacDonald said the figure used was taken from a City appraisal that was commissioned and reviewed comprised of current fees approximately one year ago. The kind of prices that some of the land is selling for in the Downtown implies buildings would rent for six dollars per square foot which is not reality and may not be realistic unless parking garages, shared parking and greater intensity of development is utilized in the Downtown. He noted that there is a significant amount of potential for redevelopment in the Downtown. Those who are considering redevelopment are being handcuffed by the fact that the City does not have an established in-lieu fee. The PDA Parking Committee is meeting with blocks of downtown property owners and developing assessment district proposals, but a key component of the equation is an established Parking In-Lieu fee. Mayor Hosterman closed the public comments. Mr. Brozosky asked staff if it believed that the Parking In-Lieu fee of $14,000 based on the $35,000 per square foot is the actual cost, or is it a fee that is fair for the City to collect knowing that parking will be subsidized by the General Fund. Mr. Iserson believed it was closer to the later and staff recognized in its report that there is some discounting occurring. Staff recognizes this and is going beyond this by making a value statement that the Parking In-Lieu Fee needs to be balanced with the goals of continuing to encourage development in the Downtown that is anticipated by the Specific Plan to continue to Pleasanton City Council 26 09/06/05 Minutes