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Minutes - San Leandro City Council Meeting - April 15, 1996 Page - 12 - JOINT CITY COUNCIL /REDEVELOPMENT AGENCY PUBLIC HEARING (continued) This being the time and place for the Public Hearing on the above matter, Debbie Potter, Redevelopment Administrator, presented the staff report. She described the property involved and reviewed the proposed actions. She discussed property acquisition and costs and the potential revenue to the City. Tim Kelly, Keyser- Marston, discussed the need for public investment. He said, without Redevelopment Agency assistance, the costs would be prohibitive for an automall. He said the agreement decreases the price from $17 per square foot to $12. He said this is an excellent redevelopment strategy because these are multiple parcels which the private sector could not assemble on its own and which are not conducive to retail such as Marina Square. He said the land value is fair and reasonable. The developer also has other costs related to the site. He said $20 million in annual sales is conservative, • and the sales tax figures are reasonable. The Hearing was then opened to the public. Al Rosenga, 534 Parrott Street, said he and his neighbors are concerned the automall will eventually utilize flags and banners, and cars will be parked on the sidewalks. He said he hopes there are some restrictions and some dignity in conducting this business. Mayor Corbett asked if he supported the project otherwise. Mr. Rosenga said he thinks it should be privately funded, and it is a give -away to the land owners. Tom Guarino, Chamber of Commerce, said the Board supports the project. They are pleased with the architecture, and there are financing benefits to the City such as tax revenues. He said this project would remove any additional pressures on existing businesses and taxpayers to absorb challenges faced in the future, generate jobs, and revitalize a main gateway. He said the Chamber cannot endorse eminent domain at this time. Betsy Venters, 1322 Castro Street, asked where employees will park. Ms. Potter said the developer will be required to meet all on -site parking requirements existing in the Code. Ms. Venters said the newspaper reported the property owner is being subjected to intimidation because he was told the Agency offer would not be the same under eminent domain. She said the City should not use intimidation, and there should perhaps be a third appraisal. She said the property owner seems to be willing if the price is right. Lou Filipovich, 15376 Laverne Drive, asked if any taxpayer money is changing hands as part of the Reynolds and Gray contract. The City Manager said the source of funding is City money, which is taxpayer money. Mr. Filipovich asked questions regarding housing replace- ment; staff described the units that would be designated as replace- ment units and the costs involved. In response to Mr. Filipovich's questions, the City Manager said there is no assessment district involved in this project.