City of Cupertino, CA Vallco related, 16 May 2018

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From YouTube: Vallco: What's Next? A Community Forum

Description

The League of Women Voters of Cupertino-Sunnyvale hosts this special forum on the future of Vallco. How will Vallco development impact our schools? How does SB35 affect Cupertino? Why should citizens continue to participate in Envision Vallco? What are Sand Hill Properties’ plans for Vallco? Panelist include Polly Bove, Superintendent, FUHSD; Michael Lane, Policy Director of the Nonprofit Housing Association of Northern California; Dan Parolek, Principal Opticos; David Brandt, Cupertino City Manager; and Reed Moulds, Sand Hill Properties. Recorded May 14, 2018 at the Cupertino Community Hall. (2 hrs. 10 min.)

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The league of women voters of cupertino sunnyvale presents valco. What's next a.

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Community forum live from the cupertino community hall and now for tonight's.

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Moderator elaine manley welcome to our valco forum, I'm elaine manley and I'm.

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The president of the league of women voters of cupertino and sunnyvale, and I.

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Will be one of the moderators this evening with me tonight. I also have.

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Tracy edwards, who is our vice president and she will be moderating with me and.

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She is the main organizer of this event, so we definitely want to give her kudos.

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For pulling all of this together, if I may say very briefly, if anyone needs a.

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Headset for the hearing impaired, would you please raise your hand? We do have a.

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Few headsets available all right. We will continue excellent, all right, well, a.

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Quick explanation of the league of women voters: we are 98 years old, look pretty.

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Good for 98, but been around for a while. We came about from the 19th amendment.

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Which gave women the right to vote, and our purpose is to empower people to.

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Shape better communities, please note that we do not support nor oppose.

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Political parties, nor candidates we do, however, we study issues. We develop a.

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Position on them and we work actively to support those positions. We have two.

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Different corporations, the first one is on voter education, and that is what.

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Tonight's event is all about to educate the voters. We also have action and.

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Advocacy and that's where we've studied a position and we're taking taking a.

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Position for or against something they are separate entities. We have not taken.

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A position on tonight's topic so once again, this is thoroughly a voter.

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Education event for you, we do have a couple of requests. We would ask please.

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Be courteous, please listen, respectfully, listen.

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Without interrupting the speakers, listen to understand do your other opinions and.

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Consider different opinions fairly and do.

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Ask your questions you will find. There are cards on your chairs. Everybody sees.

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A card available, if you could write down your question on the card and I'm going.

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To ask please write them legibly, so we can read them. Please put one topic on.

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The card, not multiple topics and, if you'd like us to address the question to.

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Someone in particular write their name on it and we'll we'll have people.

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Walking around that will gather the questions for you when you have a.

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Question that you're ready to hand off raise it up. Someone will come by to pick.

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It up, if you need another card, raise your hand if you need a pencil to write.

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With raise your finger but raise your index finger all right, good, just making.

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Sure, everybody's listening, I love it all right, so we have four topics that we're.

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Going to talk about to this evening- and each speaker has about ten minutes to.

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Present then we're going to have a q&a session with reed moles from sand hill.

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Properties followed by a q&a session with all of our panelists, so we've got.

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Quite a bit to cover tonight, the questions presented will be those received in advance of the event, as well as those that you have submitted this.

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Evening we've got our questions sorters in the back. That will just try to make.

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Sure that we cover different topics and make sure it's legible for us to read in.

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The interest of time we will not be separately introducing the speakers, so I.

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Do want to remind you that there should be a flyer on your chair that has the.

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Bios of the speakers we've got a tremendous panel tonight so do take a.

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Moment to read all about who is presenting for you, so let's see I think.

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At this point, I'm going to turn it over to michael lane, who will kick us off.

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You appreciate it. Thank you. Thank you well, good evening. Everyone can you hear.

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Me, okay, it's a real pleasure to be with you this evening. I've been asked to read.

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To you sp, though sp 35 statute, verbatim and in its entirety, so I hope you'll be.

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Patient with I'm just teasing, I'm just teasing. Actually I won't even read the.

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Slides to you, but I just brought those kind of you didn't give you a flavor of of what that statue does look like in some of the key provisions of sb 35. My.

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Organization was fortunate to work with senator weiner last year on sb 35 and.

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Kind of the way to frame this them to understand what the legislation does.

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That actually makes local plan more important and community input more.

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Important, it's just that you do that up front and not throughout the process. In.

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Changing the rules as we go along or overlay conditional use permits and.

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Those kinds of things that can actually hold up a project, so that means you have.

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Control over your local land use and local zoning, the density's design.

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Standards but they must be objective standards, not just you know. This doesn't fit in with the character of the neighborhood, but objective standards.

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About setbacks and height and those kinds of things are all fair game. So sb.

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35 doesn't undermine any of that. It just says once we've decided what the zoning.

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Is and the density is, then we need to go ahead and follow that. So I just want to.

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Give you a run through a few of the slides or just to give you some ideas.

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About what the law actually says and how it should be implemented, so the context.

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Of last year, when this bill was signed into law, is that was part of the large.

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Housing package the governor brown signed, including 15 bills, sb 35, was was.

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Key that you might remember the year before that the governor had tried to introduce a by right bill through the the as a budget trailer bill as part of.

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The budget in 2016 and got a lot of blowback from that. There was a lot of of.

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Input from stakeholders etc just kind of thrown out there without a lot of of.

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Process and it was, it was stopped and then the legislature and so senator.

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Weiner came back the next year last year, 20 in 2017 with sb 35 and went through a.

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Process working through issues with stakeholders etc to get to a place where.

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It could be approved governor brown insisted on sb 35 being.

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Part of that housing package and he wasn't going to sign off- want any.

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Affordable housing funding unless he also got stream because from his perspective, it's all the above supply issue and one of the.

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The delays that actually caught makemake housing cost more and don't allow us to.

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Actually meet the needs are our challenges to projects even when they're.

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Properly zoned, etc, and so he insisted on having streamlined as part of that.

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Larger package- and that was actually what happened last year, so the way we.

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Determine whether streamlines applies is is if a jurisdiction is actually.

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Permitting housing at various levels in their regional housing needs allocation.

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Or what we call arena and there you know low-income housing, but also moderate and.

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Above moderate are the categories that that are measured and some jurisdictions.

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May be actually producing above moderate housing, as planned for in the arena now.

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Those rena numbers are typically fairly low and we can talk about reasons why.

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That's the case, but even so jurisdictions, particularly in santa.

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Clara county and silicon valley are building above moderate for the most.

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Part like cupertino san jose and so the streamlining for market-rate housing.

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Doesn't even apply and that's why we talked about it's really affordable.

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Housing and at least 50% affordable for that streamlining to be able to apply.

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What do we mean by ministerial versus a discretionary decision? Ministerial means.

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That you've followed all the rules, and so you you get your project approved. You.

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Get you to go, get your building permits. Discretionary decisions are those that.

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The planning, commission and city council literally have discretion over and can.

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Decide whether or not they want to approve the project or demand additional.

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Changes to projects etc, particularly because the the developer may be asking.

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For some kind of variance or or a change in zoning, that kind of thing and those.

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Are discretionary decisions they're not required by the planning, commission or.

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City council, to make those changes, but that's that they're at their discretion.

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And due to the request of the developer, coming in so for this streamlined, as you.

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Can see here, the jurisdiction must complete design review within 90 days.

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For smaller projects under sb 35 and for larger projects hundred and eighty days.

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So it's really trying to distrain when it and really expedite this process. We.

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Talked about how we determine whether jurisdictions are actually having to streamline market rate or if it's really focused on.

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Affordable and particular at least 50% of the of the units have to be.

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Affordable and that's the case in most of most of the bay area, so the way this.

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Works is that it's it's actually halfway through the rena cycle, where we.

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Determine where you are, those typical cycle is eight years. So after four years.

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Hdd will then to make a determination and they've actually got this.

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Information on their website now and they've actually got maps which you can go and look at in terms of where the streamlining applies in which jurisdictions. So if content that's going to be contained to be a good resource.

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For us at the state level, as you can see here, that the site must be substantially.

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Surrounded seventy five percent: these are. This- is really for infill it'll. Also.

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Have to be near transit and meet all objective. Zoning design, review standards.

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When the project is submitted in terms of community benefits, we.

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Consider affordable housing to be a key community benefit and also labor.

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Standards and their significant labor standards required as well to get the.

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Streamlining- and that was one of the negotiations that think that the senator.

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And the governor had made with with with the building trades in sacramento and.

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Prevailing wages apply to to all, as it is a minimum, and particularly for.

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Affordable housing but for market rate developments there's also an additional.

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Skilled and trained workforce, which requires a state kind of certified.

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Apprenticeship program as part of that process to make sure that that the union.

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Workers are allowed to have access to these to these jobs, as well as a.

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Exchange for that, for the streamlining parking is reduced parking as part of.

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This as well, particularly if it's within a half mile of transit, nope, no parking.

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Minimums otherwise, one parking space per unit, the idea being parking is very.

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Expensive and drives cost of housing, but also a lot of times. We have excess.

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Parking on sites and that's not used certain days or certain times of the day.

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And it becomes it's a wasted resource in many cases plus. The idea is to actually.

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Have a more robust transit system and to be able to extend possibly get people.

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Out of their cars and reduce vehicle miles traveled, that's also part of the.

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Kind of and bay area process at mtc and a bag.

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Have adopted as to get as much housing as possible on infill sites near transit,.

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And reduce those those commutes there's also many exemptions where it doesn't.

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Apply, I won't go through all these now, but obviously sensitive areas. An environmental protection plays a key role and this as well, and that from.

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Environmental groups actually were able to at least get to a neutral position, has to be thirty five, because these types of amendments were taken to the.

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Bill, you can see other exemptions here as well and there's also protections.

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Against demolition of housing, so we're not going to you know evict people and.

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Then and then, and and then build new market rate housing and use sb 35.

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Streamlined so we want to have tenant protections in place and demolition.

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Protections is a key piece of the legislation as well once again as you.

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Can see most jurisdictions are subject to this because they just haven't been.

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Permitting sufficient housing at any level, some have done better with market.

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Rate but most because of the loss of funding over over the past decade or so.

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For affordable housing, most jurisdictions are not at all near meeting their affordable housing arena numbers and I think I'm going to go.

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Ahead and stop now, I've only got a minute left anyway, and thank you look forward to discussion.

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Good evening I appreciate very much the opportunity to talk about the most.

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Complicated subjects I can think of school funding in california and.

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Enrollment projections, but I'm gonna do my best to do it in ten minutes. So we'll.

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See how it goes, I think most of you have heard of the phrase lcff local control.

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Funding formula: that is, the approach that is now used to fund all schools in.

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California, or at least most schools in california, what it means is for the very.

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First time in many many years, there's a base level of funding for every child.

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And then there are additional funds provided if we find that the child has.

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Specific needs and that's really how funding ought to go. So if a student is.

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Homeless or english language learner or a low socio-economic additional dollars.

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Come from the state, this has helped its may you've heard a lot about the full.

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Funding of lcff from jerry brown, but it has only brought the funding level for.

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Education in california, from 49th in the nation, to 41st not very much of a jump.

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But one will take so let's be very specific because you have two types of.

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Funding that are represented in this community and would be impacted by this.

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Development, the first is the local control funding formula that I just.

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Talked about so the question is: do the local property taxes get you to that.

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Base level in cupertino union school district, the answer to that would be no.

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The state does have to add money to the local property tax for cupertino union.

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To get to the base level of lcff, however, because the high school district has.

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Also sonny bill within its ranks. We are another kind of funding which is about a.

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Hundred districts in the state of california- not very many of us we're.

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Called community funded- some of you may know us as basic aid, and that says that.

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The local property taxes actually exceed that base funding amount. The lcff amount.

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And the rule is if the local funding exceeds that amount you get to keep it.

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So we aren't a lot more funded than lcff, but it counts and we're going to keep.

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Those dollars and we're grateful for them. So how do you get these funding.

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Increase, I mean, can you ever get past these little amounts that were given by.

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The state at that 41st in the nation level. Well, if you're a local control.

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Funding district and I'll see ff cupertino union high school union school.

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District one way to get more funding is to get more students, because you get.

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Dollars per kid, that's probably the way most of you have thought about school funding in the past dollars per kid, and you can also get.

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More funding, if the state decides to increase that base level of funding and.

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Sometimes they do this year, they've increased it last year they increased it.

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There's some hopes that there will be sort of colas or increases on a regular.

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Basis to that base level of funding, and if you are like we are a community.

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Funded district ways to increase those funds that we get per child is to.

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Increase property tax values, which is happening all over here and to have new.

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Developments because when you redevelop or have a new development that does what.

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The first one says: increase property taxes for both of these kinds of school.

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Districts, you also can increase funding by passing local measures and you, as.

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People who live within this community have done that for both these school.

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Districts, you have passed parcel taxes for cupertino union and parcel taxes for.

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Fremont union and we're grateful for them. So thank you. So what would valco do.

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To all this, that's really the question that we're asking here our estimates and.

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Those of our consultants tell us that probably a fully-developed valco would.

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Raise our property taxes on an annual basis about six point: five million.

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Dollars, that's a lot of money, it means for us about a six and a half percent.

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Pay raise for our teachers, which is not insignificant, and that would make a.

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Difference to us, certainly in both cases it would generate more students and when.

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You generate more students for cusd. That means more funding. It would for both of.

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Us generate some developer fees, which is always helpful to us and we're looking.

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At one-time funding or the kinds of things that we use, that money for which.

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Is awful, often capital outlay kinds of things.

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And it would probably create additional parcel tax funding, because there would.

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Be some of the units that would be separate parcels and wouldn't create a.

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Little more parcel tax funding that last bullet is wrong. I just want to tell you.

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I didn't, I think it's my hopefulness, that put that last bullet in there and.

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I'll tell you why in a minute, so let's talk about the second topic, what happens.

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When we have a new development, and what does it mean in terms of our enrollment.

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We use an enrollment projection consultant and have for a number of.

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Years, because how many students that are coming to us matter a lot? How many.

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Classrooms, should we build how many teachers should we hire? What are we.

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Thinking in the future we're going to have is needs, and so both cupertino.

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Union and sunnyvale elementary in our district and in fact most of the.

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Districts within santa clara county use epc he's one of the best. Last year, our.

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Forecasts were off by 11 students. That's 11 students at about 11,000, not very far.

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Off 1/10 of 1%, so let's look at what the projections look like for the next six.

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Years and I want to tell you that this graph looks very dramatic, but I didn't.

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Know how far away you'd be from the projection, so I wanted to be sure you saw it so it does start at 10,000 students. It goes to 11 thousand two.

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Hundred and it's an increments of a hundred students, so you can see that.

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We're projected in about 1920 to reach our peak at almost exactly 11,000 and.

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Then we're going to see a decline over time until 23 24 back to about 10,000. So.

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We're going to lose about a thousand students in the projected future about.

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The next five years, what's the main reason well, the main reason if you're a.

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High school district that you're losing enrollment is because the k through 8.

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District is losing enrollment, so we get the kids after they do so. What's.

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Happening to cupertino union, in fact, from 19 from 2014 to 2017, they've lost.

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Over a thousand students themselves- and that's projected to continue well on to.

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2324 and those losses are not throughout all of cupertino, but they are.

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Particularly focused in the mauna vista and lynbrook and serious, so those are the two areas we're seeing the most dramatic tan.

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Decrease some of you may have been involved in this big discussion. We've.

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Had around the decline in enrollment at lynbrook, high school, okay.

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So, let's dive into this a little bit- and I will tell you that this entire report.

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This is a page out of it it's on our website and can be easily found, not.

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Always easily understood, but let me try to talk about in a minute.

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We use student generation rates to determine how many students are coming.

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Our way so in sunnyvale and you'll see that, at the top of this you can see our.

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Student generation and who's a lot of lingo up here, sfd single-family dwelling.

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Or underneath that it says attached att, going to columbia, middle school or going.

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To sunnyvale middle school you'll see that on the far right, the generation.

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Rates are different, so if you're going to go to sunnyvale middle the generation.

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Rate is about three kids out of a hundred housing units. Okay,.

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Make some sense, you'll notice, the percentages before that are the k.

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Through 8 or tk, through 8 and you'll notice, that in below market rate and.

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Some of these others, it's quite high for the elementary 0.35, 0.06 and so forth. In.

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Cupertino you'll see that the generation rate is significantly higher. That's been.

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Typical of cupertino versus sunnyvale for a very long time and you'll see the.

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Generation rate for elementary kids is about double what it is for us and in.

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Part, that's because they have 8 years and we have 4. But it's also because in.

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The multiple family dwelling units we see more elementary kids than we do high.

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School kids, so you'll see that generation rate is quite different. Now.

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I'm not going to take much time on these next two slides, but I understand these.

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Are going to be posted somewhere for you to see this, gives you a chance to do a.

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Deep dive at each of these housing types to see: what's happened since 2014 and.

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You'll see the declines very significantly in single-family homes, but.

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Also attached homes and we're seeing those two student generation rates is.

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Very similar, as time has gone on and here you're seeing the cupertino union.

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Ones the previous was sunnyvale, but you'll see that dramatic drops since.

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2014 in the number of students since and single-family dwellings,.

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So what I will tell you is that both a plan- 35 sb 35 from valko and a specific.

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Plan can yield some benefits for cupertino union and for us it can.

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Certainly, yield property tax dollars for us and that's a big boost and we would.

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Appreciate it, but if we were to go with more of a specific plan, more of a.

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Compromise it could provide affordable housing for teachers, and I could talk.

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For way longer than we have tonight about affordable housing for teachers,.

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And how important that is for some of you that are aware we're opening our.

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Adult and community education at valco do their generous ability to give us.

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Some space there for the time being and we hope to have a permanent home for our.

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Adult and community education- I know, cupertino unions talked about.

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Wouldn't it be great if we could have a place for the cupertino union school.

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District office they're paying enormous amounts of rent right now to have that.

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In one of the local buildings, and if we did remember, I told you that last bullet.

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Was wrong if we were able to get a compromise or a specific plan, we would.

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Get additional funding through schools through property and parcel taxes.

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Because each of those housing units could be considered a parcel and if we.

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Have 2,500 housing units at $98 a parcel? It's a lot of money. Thank you.

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Holy that was, that was impressive. That was a lot of really good information or.

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Short amount of time, so I'm dan perot-like from optic oast design and we've been hired by the city of cupertino to lead the veljko special.

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Area specific plan- and I think just going to take about five minutes this.

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Evening, before handing it off to david, to basically give you a really brief.

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Summary of the process to date and what's ahead, and I guess for those of.

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You who have participated, I see many familiar faces, a reason for you to.

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Continue to participate and for those of you who haven't participated to date, a.

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Reason to come and engage in the process because we do feel the more people that.

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We can can can that can participate in that process. The better and most.

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Successful the process will be so. We've tried a lot, a lot of different ways to.

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Engage the community here- we've done focused stakeholder group interviews.

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We've done a kickoff meeting, which is a more structured event where we did an.

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Ideas board and had a lot of ideas at the community posted on the walls here.

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In this room, we actually reached out to the the local high school and did did.

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Some activities with them related to this process and I'd, say it's definitely.

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A bit of an understatement that this is an extremely complex project and process.

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Right this sb 35 in and of itself, is completely untested. You have a very.

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Passionate community here that- and it can be a really great thing here- that.

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Sort of have differing viewpoints that we're trying to sort of navigate and.

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Sort of build some consensus around and so we've been constantly adapting to.

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This process and for those of the community who couldn't actually.

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Participate in a lot of those evening, workshops that we had there's been a.

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Website for at envision, veljko org, that's given them the ability to give.

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Their input online throughout the course of the several months of this process to.

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Date and we feel that's actually been fairly successful, so the culmination of.

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The first several months of this public process was the multi-day design.

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Charrette process can I get a show of hands from those of you in the audience who participated in the shret process, so.

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Fantastic, so we I set up a studio for about five days.

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With our economist, with our transportation consultant and our design.

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Team and worked with the community to basically test and refine a set about.

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Specific ideas, as they applied to the site that were our initial distillation.

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Of the many ideas that came through the public process- and this took place in.

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April so for those of you who participated, this is not new, but we had.

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A physical model we're real, actually, building three-dimensional scenarios of.

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The different ideas, or to be public spaces sizes of buildings, a new street.

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Network where the parks and open spaces would go, and we also generated a lot of.

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Drawings to represent those ideas and we we updated and refined those over the.

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Course of the week, based on that participation and that input right there.

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Are some ideas that the community can get their kin can agree upon already and.

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So it's like a very thoughtful transition as needed as you move to the.

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West into the residential neighborhood, and so we can agree upon that. So what do.

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We do with that as it as a team, so we take that information. We start to think.

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About what sorts of policy? What sorts of vision? What sorts of objective standards.

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Do we now need to write and integrate into the specific plan to ensure that.

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There's actual predictable implementation of the vision that we.

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Worked on with you as the community members right, then there's other ideas.

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Where right most of the community- and this is a general plan policy, as they.

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Want a a town square of vibrant public, open space on this, the former velko site.

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And so then we start to ask questions. You know where should that plaza go? Does.

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It does it matter, should it be on wolf road, should it be internal to the site.

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How big should that be? What are some of the minimum parameters? How do you want.

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To activate that space, and so once again we take that sort of information and.

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We're going to ultimately put that into the specific plan into the set of.

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Development standards that were writing that will land within the specific plan.

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Process right then, there's there some more slightly controversial.

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Like scale of buildings, we just have talked a lot about the trade-offs. How.

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Big those buildings should be. How big are you willing to let buildings be as a.

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Trade-Off for you getting more of the amenities that you might want in this.

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Project, ultimately, whether it be sort of additional classroom space for adult.

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Education or some programs from the local schools, potentially the sort of.

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Location for city hall programming, so we're having those conversations and we.

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Introduce those in that charette process so we're currently there's live comments.

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On related to all the information and all the designs that were created at the.

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Public shret process: you can go online right now to the envision bellco.org.

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Site and implement your comments on to that site, and this is open. I do believe.

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And through through the end of thursday, so I just encourage you to take a look.

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At that, so the next step in wrapping up here is the second of the two charette.

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Processes this sunday evening, we're gonna actually kick off the second.

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Charette process- and I do can I do apologize for the confusion we actually.

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Tried to change some of the dates and the times, and we realized it- was really.

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Confusing for you all, so we actually put it back to very close to what the.

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Original dates, and times were so it's kicking off on sunday, will actually be.

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If you're through thursday- and I just encourage you to participate in this.

F

Process come and engage, and our team will be here to respond to your.

F

Questions and comments and to integrate your thoughts under the process. Thank.

F

D

Thank you. uh Women leave a bar in a really tight ship here, so we're gonna go.

D

Pretty fast, so we don't hit this slider. Do you take care of it.

D

Which button? Oh, I'm burning it my time as we speak right. So what are we doing.

D

Here is part of this process: we're designing a specific plan, a specific.

D

Plan is is like a super zoning ordinance for a specific area. It defines the rules.

D

Of development rules of engagement, so to speak, it has lots of public input in.

D

This design and sets all the objective standards which a project that comes.

D

Afterwards has to comply with, and this process can also also include a.

D

Development agreement, which is the sort of the business end of the project, which.

D

Allows for the community benefits as special project features. Maybe that.

D

Benefits the school districts or the city or the residents.

D

So what's sp sp 435 sp 35 is follow the opposite. Its a project. The city has.

D

Virtually no discretion, whether it approves it or not. What if it's deemed.

D

To qualify for sp 35, it's entitled to streamlining, there's really no public.

D

Input and the city council has no discretion but to accept it. So where are.

D

We in the process we so we've started this process about close to two months.

D

Ago and we are in late spring and so we're approaching the second of the two.

D

Charettes that we're gonna have and once that process is over city council will.

D

Have a workshop and we're, basically, it gives direction on which of the options.

D

That opticals has developed through this process. It wants to proceed with and.

D

Then there'll be some further work. The optic oast has to pervert.

D

Here the draft based on counsel direction and that will come to the city.

D

This fall simultaneously were doing the secret review process and we've been.

D

Working for quite a while actually to prepare all the technical work that will.

D

Go to inform the public and we expect to have a draft ready. Probably in a week to.

D

Ten days which releases the public there's a about a six week, comment.

D

Period, probably that we will provide and then we will respond to the various.

D

Comments that the public has and agencies have on the environmental.

D

Document those two processes merge, this fall so that when the city council.

D

Actually considers a specific plan alternative the environmental review.

D

Will cover that, so this is the way we conceptualize the environmental review.

D

Because we don't really know inside this circle, we don't know where, where the.

D

Actual specific plan will will be it's sort of a point, and so we've developed.

D

Alternatives that will that you can sort of visualize as points along this. This.

D

Outer circle, and so that the impacts of whatever plan option, the council selects.

D

Should be covered by some version of the the alternatives that we will we've.

D

Designed along the circle and in the middle there's, this sort of beige area.

D

Which are those options which certainly within the impacts of the ir? But.

D

Probably are not financially feasible, like a single-family subdivision or a.

D

Gigantic park, so what is this discipline going to look like it's going to talk.

D

About the scale of buildings and the uses it'll go over the street layout and.

D

Utility layouts, it will discuss massing and visual contextual types of issues.

D

And then, at the end of the day, it will look like it's something like this, which.

D

Is this is the two dimension, a dimensional version of a specific plan.

D

That has you know both land mass, seeing it has billing layout. It has open.

D

Space and it has a circulation diagram- and this is a couple more and so, where.

D

Do we, and where do we go from here right? So, as dan mentioned, the next charette.

D

Process starts next week: it'll be an open house, fair, similar to where we were.

D

At the last sûreté, the options will be refined at that process will have an.

D

Economic feasibility, that's more refined and we did it earlier and then hopefully.

D

The draft dir will be ready about the same time as the charette occurs, so that.

D

Again, I think dan showed you this before this is where how you stay connected.

D

That's our website, which is envisioned, bellco.org and feel free to, and as it.

D

Gets more refined to really reinforce the process by giving us your comments.

D

And so thank you and I do not know who's after me. Is it read.

G

Hi there, a lot of familiar faces, it's great, to see everyone. Thank you for.

G

Coming out and supporting this event, my name is reed moulds, managing director.

G

Sand hill property company sand hill has been an active developer in cupertino.

G

For no less than twenty years, but I wanted to remind everyone of the last.

G

Five or so years to frame where we are today and, in my opinion, that's on the.

G

Cusp of revitalizing, the failed valco mall in 2012, the city of cupertino.

G

Kicked off a multi-year general plan, amendment and housing element update.

G

That would ultimately last nearly three years at around the time, this general.

G

Plan amendment was completed, though, in that was roughly late. 2014 sandal had.

G

The unprecedented opportunity to acquire and assemble all four pieces of the.

G

Valco shopping mall. You may remember shortly after that. We.

G

Engaged in a robust community engagement and outreach effort that culminated in.

G

September 2015, with the unveiling of the hills of falco.

G

Project application, which was compliant with the city's new general plan, vision.

G

For the citement, unfortunately, only a few months later that traditional.

G

Process was interrupted by the introduction of better cupertino x'.

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Measure c, we saw fit at the time to respond by repackaging the hills into a.

G

Counter measure in in 2016 and the subsequent november election, as we all.

G

Remember saw the failure of both of those measures. Last year we spent some.

G

Time considering what's next watching the now nearly vacant mall continues to.

G

Deteriorate and learning about the ever worsening housing crisis in october of.

G

2017, you know sand hill requested that the city initiate a specific plan process. We.

G

Office I'll, remember that as well and the goal was to analyze a range of.

G

Alternatives to the hills plan that would increase the number of residential.

G

Units and reduce the amount of office space and the city, as we know, initiated.

G

That process at the end of 2017, I just want to say that since reactivating this.

G

Application we've seen repeated efforts from some factions in cupertino as well.

G

As a couple of city council members to undermine the process and what we took.

G

Most seriously just to share with this group our thought process were the.

G

Efforts by the current mayor, another council member, to amend the general plan.

G

Late last year, also, the state of the city address earlier this year, which we.

G

Felt was an attempt to influence that ongoing specific plan process and of.

G

Course, advertising by by better cupertino, to undertake fundraising for.

G

Yet another initiative- and you know frankly, there's just simply too much at.

G

Stake at this point to justify us continuing down the path of a specific.

G

Plan without providing for an alternative and as the states and city.

G

Housing and affordability crisis continue to worsen, as the mall continues.

G

To empty out and as the risks of completing a community-driven process,.

G

Grew right before our eyes, santé property company launched valco.

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Town center, an sb, 35 compliant housing focused project application. Well, we.

G

Think the valco town center is a truly world-class design for a world-class.

G

City and features innovation, sustainability and technology informed.

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By four years of community engagement to bring a real mixed use, mixed income.

G

Downtown to cupertino valco town center includes 2402 residential units, both for.

G

Sale and for rent serving a wide range of household types and lifestyles, 50% of.

G

Which will be affordable to low and very low income levels? It also features.

G

400,000 square feet of retail and entertainment uses, including space for.

G

State-Of-The-Art movie, theaters bowling alley and ice rinks, which will restore.

G

Balco as the vibrant retail scene, it was 30 years ago, 1.8, 1 million square feet.

G

Of office, space will also be included in the project, and that is there in order.

G

To make the project economically viable and for the city's long-term fiscal.

G

Health, a rooftop park, continues to be in the plan and will provide an.

G

Unprecedented community park with accessible walking and jogging.

G

Trails, turf playing fields, family picnic areas, orchards and organic gardens as.

G

Well, as children's play areas and a refuge for native species of plants and.

G

Birds and finally, I just want to say this is uh this- is all part of a package.

G

Of innovative gateway architecture and urban design features, including.

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Destination town center, plazas promenade sand car free spaces, all which will give.

G

Visitors, an unforgettable sense of arrival and create a dynamic venue for.

G

Community events and gatherings making the valco town center, the new social.

G

Heart of cupertino, now as for a housing, I want to spend a little time talking.

G

About the housing component, the last time it was reported by the state just.

G

Last year, cupertino actual population growth was.

G

Shown to be the slowest in santa clara county, 0.17%, annually, valco town center.

G

Is a mixed use, mixed income plan that offers a range of really unique housing.

G

Options for really, even in our opinion, everybody millennials families, seniors.

G

The project will results in a 10% increase in affordable housing stock and.

G

A four hundred and sixty percent increase in cupertino is below market.

G

Rate rental inventory: we also think by locating affordable housing here in the.

G

Project, we're gonna see a reduction in traffic from our original plan as well.

G

As ghg emissions around the site in cupertino by creating more housing, close.

G

To our job centers now in terms of retail, we have a four hundred thousand.

G

Square foot project here and that's a significant amount of retail. What you'll.

G

See as part of our plans is a really the centerpiece of central town center, plaza.

G

And public gaving gathering place that will act as a center point and be an.

G

Identity for cupertino, as well as the greater greater silicon valley there.

G

Will be a cluster of dining experiences that surround that plaza? That will serve.

G

As a regional draw, we'll have entertainment venues that provide experiences and venues distinct to silicon valley's edge culture as well.

G

As new and improved community favorites, like the state of the art, theater.

G

Complex the modernized bowling alley and an nhl regulation ice facility will have.

G

A pair of shopping streets make a loop fully integrating the.

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Ambience of promenade, while accommodating new patterns of digital.

G

Shopping and will be able to provide essential services in our retail.

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Component that support the day-to-day needs of a diverse set of residents and.

G

Workers, finally, this will be an atmosphere that supports healthy living.

G

And blends cupertino agrarian heritage and charm, with its dynamism as the.

G

Capital of tech, culture, the innovative foothills design of the 30 acre rooftop.

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Park provides walking and jogging trails, turf playing fields, family picnic areas.

G

Orchards and organic gardens a children's play area, as I mentioned, and.

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A refuge for native species and plants and birds, the design also incorporates.

G

Vital sustainability measures, including rainwater collection, treatment and.

G

Recycling for on-site irrigation, not to mention the energy-efficient benefits of.

G

The green roof itself the shape of the rolling hills, preservation of his.

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Distant trees, along wolf, road, stevens, creek and perimeter road and the.

G

Planting of new ones will provide a privacy buffer to adjacent residential.

G

Neighborhoods and an extraordinary authentic public open space asset to.

G

Cupertino and the community at large, the.

G

Project's 1.8 million square foot office component is a key element of the.

G

Success of the project itself. Not only does the office component help us to.

G

Justify the unprecedented private investment to building 1201, affordable.

G

Homes for low and very low income levels, but it provides essential footfall to.

G

The valco town center retail component, it drives the long-term fiscal health.

G

And economic prosperity of the city and its schools and it accommodates the.

G

Growth needs of cupertino companies, as well as the ability to recruit new.

G

Important presences to the city, including possibly medical, uses.

G

Bellco town center advances, sb 35s goal of delivering affordable housing while.

G

Retaining the major design aspects, innovative features and community.

G

Benefits of the previouse hills at balco application over the past few weeks.

G

We've received great feedback from the community about this project application.

G

As we continue through this project review process, I wanted to let everyone.

G

Know this application is real. We are preparing to build this project as soon.

G

As we get the necessary approvals well, sb 35 requires our valco town center.

G

Application to be processed and approved pursuant to statutory timelines set.

G

Forth in the legislation, we, however, also made it very clear that we do not intend.

G

For this application to stop the ongoing city led planning process assuming the.

G

Current specific plan process were to continue and timely fashion result in.

G

Another viable option that would not only achieve our goals and the goals of those advocating for housing and equity, but that would serve the best interest.

G

Of the community and the city as well, I think it would be in the spirit of the.

G

Housing legislation to do this. For this reason, we have stayed engaged in support.

G

Of the specific plan process and of that potential community driven alternative.

G

And are rooting for its success. The.

G

Intent of sb 35 is to alleviate these housing and affordability problems so.

G

The well-being of the state and in its regions, including cupertino, can be safeguarded. Balco can and must be a substantial part of that solution and.

G

I look forward to the dialogue we're going to have tonight.

H

Not yet thank you, I get the benefit here of spending and.

H

By the way, my name's tracy edwards and I'm so happy you're all here this.

H

Evening reed kindly agreed to allow us to do some q&a just with him. This is a.

H

Big topic and we want to give it adequate time and after we've gone.

H

Through some of those questions, then we'll be inviting all of the panelists.

H

Up onto the stage and take all the questions related to all the areas that.

H

We've covered just wanted to remind you. If you have questions, please raise your.

H

Hand you'll get a card if you've already submitted it and they'll run the cards.

H

Up to us as we go so so, please don't hesitate and entering your or submitting.

H

Your questions so with that, I think we had a hand up over there. Somebody need a.

H

Card so hey welcome. Thank you. Thank you so much we, as elaine mentioned, we got a.

H

Lot of questions in advance and so we're starting with those, but we thank.

H

Everybody that submitted them and they're submitting them this evening.

H

Read lots of questions about sb 35 and the specific plan. The first one was when.

H

You were considering submitting for sb, 35 and and when the opticals project was.

H

Underway, did you consider putting the sb 35 plan into the charette style review.

H

And seeking comment on that directly hey: this is your asking before we submit the.

G

Application, it's just submitted it, and- and it was the encouragement of.

H

Continuing the process did you consider having us your plan, your sb 35 plan.

G

Well that process, I think that you know we weren't going to try to tell the city.

G

Of cupertino and the and the very talented consultant team that they've.

G

Put together how to run this process, but, as I mentioned, it was important to us to.

G

To begin down, arun, where a road where we could have some certainty as to outcome.

G

And I frankly, I have not been a closely involved in the specific plan processed.

G

To date, and and and from my vantage point, I think it's run been run very.

G

Well, however, I would say, though it always comes down to a vote of council.

G

And that vote can be, obviously it can be a no, it can be at the same time it can.

G

Also be challenged and it can be, there are a number of scenarios where either.

G

The process gets delayed and where the process also, you know, never actually.

G

Gets resolved and so for our standpoint was, let's start a project application.

G

Where we know we'll have an outcome- and I did not want to impose that upon the.

G

Specific plan process per se, but we did want to make sure that we're able to.

G

Bring this to a timely conclusion, one way or another, very good when you sort of touched on this in your closing remarks. But when.

H

The optical project completes: will you do you believe there will be enough time.

H

To potentially choose some of the alternatives or a component of the.

H

Alternative that's generated by that project. I think so.

G

I think that really the imperative here is: let's get going on providing housing.

G

And you know from my standpoint, I we are working on a plan we're now working. You.

G

Know on essentially two projects in a way, but the sb 35 project will we expect.

G

Be approved by september this year, in which case we may or may not have an.

G

Outcome on the specific planned process, and so we are going to continue with.

G

What we have at the time we'll be preparing demolition, drawings and we'll.

G

Preparing excavation other make ready packages that we typically do. Is we get.

G

Ready for the first stage of development, and- and that is what we'll be focusing.

G

On at that point, however, should the specific plan be approved at about that.

G

Time and provide a compelling alternative, one that to us also checks the box of being generated by this community and being.

G

Something that is, you know really authentic to the people that you know.

G

We've frankly been working for the last four years with and creating a solution.

G

For valco, then that would be something that we'd obviously strongly consider. I.

G

Think the hope is depending on where we are in that process. It wouldn't be too.

G

Substantial a pivot to change from one project to the next okay, this one I'm.

H

Keenly interested in if local opposition was not an issue and taking into.

H

Consideration the social needs, and I interpreted that to mean housing and.

H

Transportation and the economic requirements of a project. What would.

H

Your ideal project look like well. I would just say that if a local.

G

Opposition we're not an issue. Local opposition, we're not an issue. We never would have seen that's b35 more than likely, but if we could do whatever we.

G

Want I you know, I think we could probably spend the rest of this program.

G

Talking about different project scenarios and different programs, numbers.

G

Of square feet number of units, that sort of thing, but you know less a developer.

G

Like us is probably more interested in in terms at this point in terms of the.

G

Winds then, and they are interested in the what's, and so yes, there are a number.

G

Of viable scenarios that can then that can emanate from such a process that we.

G

Could think about proposed, but really time is of the essence for these things.

G

And that is the critical nature that we find a critical nature of the position.

G

We now find ourselves in regarding the affordable housing component. Will you be.

H

Working with an affordable housing developer, it's possible we're still in.

G

Early days as of now, you know, I think that that would be the plan as we.

G

Continue through the specific plan we would, we would look to what the.

G

Objectives of the city are, and I know that they've had some great successes.

G

Very recently, in terms of getting a horrible housing projects approved and.

G

We continue want to want to collaborate and learn from those successes and also.

G

Be open to partnerships that we think could further the objectives of of the.

G

City as well as ourselves, and so certainly we are opening to partnering.

G

With an affordable housing developer as to the sp 35 project, I would say my.

G

Answer probably remains the same, but when we submitted that project we made.

G

The decision to deliver these units ourselves, and so we are acting on on.

G

That base case assumption that, ultimately, these 1201 affordable units.

G

Under the sp30 5 application, they will be delivered and built by us more than.

G

Likely once built once we get into operating those units and working with.

G

The city on the implementation of these affordable housing units will very much.

G

Be interested in in looking to align with an affordable housing partner who.

G

Can help administer the the affordable housing component, so I think one way or.

G

Another will more than likely work with an affordable housing partner. Ok, as sort.

H

Of three questions, all about impacts and I'll, give you all three and then what.

H

Can go one by one? How will you minimize the impact of.

H

Construction on nearby residents and businesses, how will the work, how we work.

H

To mitigate the impact of the development on traffic and how will sand.

H

Hill design, the project in midway mitigate water consumption, so starting.

H

With the first one, the impact of construction on residents and businesses.

H

Sure it's always been an important part of our planning for this site and has.

G

Been to make sure we fit comfortably and responsibly within the context of the.

G

Neighborhood in which the mall is located, I mean it is kind of interesting.

G

It's a it's a mall, you know plunk down in the middle of a.

G

A you know, diverse neighborhood there's, you know examples of most land uses and.

G

Surrounding our site, but we know that there's always been a keen interest of.

G

The neighbors in the portal neighborhood it's just on the other side of our of the perimeter, road, redwood, trees and and wall there, and we want to make sure that.

G

We're continue to be sensitive to our neighbors, partly inspired the design of.

G

The project itself, where we see in in the current us, be 35 application. The the.

G

The silhouette of the roof and the heights of the buildings gradually.

G

Increase as it, we increase the distance from that property line, but I think that.

G

You know in in terms of managing the construction impacts. You know we're this.

G

Is a the way that this project now works it's more than likely a 60 year, six to.

G

Eight year execution, yes, sixty year, please six to eight year execution and.

G

It could be longer could be potentially shorter, but more than likely it will be.

G

About that long and it's just harder to harder to predict how the market will.

G

React to bringing the supply of residential units on that we're talking.

G

About 2,400, so that is our best guess and and we did put a sequencing diagram.

G

In our plan set that gave an idea of how that would happen, but essentially we are.

G

Going to phase it such that the impacts will be distributed over time and they.

G

Won't be, there will be in in the middle of a 58, a core construction zone all at.

G

Once but we will be using, you know the the most, obviously, the cleanest fleet of.

G

Trucks, in terms of as we excavate the site and get ready for development tier.

G

4 is contemplated at this point, and that is in the idea is to minimize the.

G

Impacts on on the neighbors in the surrounding area.

G

And then, of course, we'll just begin to what, as we deliver the second and third.

G

Phases, we're also going to be have to be aware of our own residence on site, as.

G

Well, in terms of traffic impacts, you know, I think, that one thing that's.

G

Changed from when we submitted our original hills at valco application to.

G

Where we are now is that the city has adopted a transportation impact.

G

Mitigation policy that attempts to capture all of the potential development.

G

Of the general plan and one way or another, make sure that all development.

G

Under that plan pays its way in terms of transportation impacts, and so we fully.

G

Expect to be subject to that mitigated the mitigation fees that are that are.

G

Contemplated in that in that program, and so we're expecting to either provide the.

G

Improvement of the of the identified capital projects or paying a fee in the.

G

Amount of tens of many tens of millions of dollars that will allow the city to.

G

Perform the projects needed to offset any traffic impacts? Well, we went dead.

G

Though back yes, I have the last question has to do with water.

G

And you know we got pretty far in the in the first project: the hills of elko in.

G

Terms of the amount of work that had been done on a you know, on studying what.

G

The impacts could be and thinking about mitigations, and we actually got to a.

G

Point where we had been working with cal water and cal water determined at the.

G

Time that there was adequate water supply to accommodate that project and.

G

We're essentially, on the same in terms of on terms of orders of magnitude, a.

G

Similar scale of development with this application, and so we expect that cal.

G

Water will make a similar determination in terms of the availability of water of.

G

Water supply and just to go the extra step we are anticipating, as we did.

G

Originally that we will see recycled water in the near future in this area,.

G

And so we are going to be plumbing the site to accept recycled water as soon as.

G

It's available running a dual plumb system throughout.

G

All of our residential units, as well as setting up the infrastructure to make.

G

Sure that we can actually adopt the recycled water system into our project.

G

As soon as as soon as that's available to us, the next question came in right as.

H

The change in ownership at macy's was announced in sunnyvale, and so the.

H

Question is this and he'll see itself as managing veljko long term, meaning as.

H

Sand hill committed to the community over the next 25 to 50 years sure a fair.

G

Question I am you know I mention at the beginning of my presentation that sand hills been in cupertino for over 20 years. So if the.

G

Question is whether or not we're committed to cupertino. I think that I could answer that easily. As yes, we've been involved in many of the projects.

G

That you use on a daily basis. Our first project was cupertino village, and that.

G

Was one that was a retail project and that was a project that was programmed.

G

By peter and susannah powell, and was a wonderful success continues to be a.

G

Great success and a great bright part of cupertino future we have a dozen other.

G

Projects in cupertino of something that you might know include the whole foods.

G

On stevens creek, we developed that and continued to own and operate that that.

G

Property today, as the same applies to our main street cupertino project, which.

G

Obviously was a was a multi-year effort in terms of planning and working with.

G

The community and and we feel that we've very successfully constructed and.

G

Delivered that project- and I think it's turning into a very vibrant part of this.

G

Growing downtown part of cupertino as to sunnyvale. You know, I think that, what's.

G

Really important in these in these large mixed-use downtown projects is that you.

G

Do have a single developer with single vision and who is able to work with the.

G

Community and is able to respond to the needs of the project and the city. And in.

G

The marketplace- and you know oftentimes when you have multiple players in that.

G

It can, you know it can at best slow things down.

G

We felt we exited sunnyvale for two reasons: number one, because.

G

We know how it we know how important is for projects like that to be led by a.

G

Single group and to minimize the risk of it not happening for the city, that city.

G

Has been very patient and waiting for that project to happen will be.

G

Incredibly pleased once it comes to life as someone who master planned that.

G

Project we expect it to be wildly successful, but frankly we exit it.

G

Because we wanted to put our energy into developing a great downtown for.

G

Cupertino- and so we want to put all of our energy into this place into this.

G

Downtown and that's why we're here today lots of questions on the green work so.

H

Why is it an important? Let me read you a few of them and then we can go back.

H

Through them, but why is it an important feature of the product and how will it.

H

Be maintained both physically and from a safety perspective. Well, you know: we've.

G

Been one of the reasons that I'm in this in your event, tonight's, because we've.

G

Been trying to engage in different ways of communicating with the public over.

G

The last you know four or five years here and you know the green roof was, was.

G

An it was inspired by the input that we had received from this community in in.

G

That many months of outreach in 2015 it was something that we felt were sanel.

G

They responded to the fact that cupertino could always use more parks in.

G

This course, as we plan our communities going forward, we always need to keep park space in mind and and not just collecting fees to create park space. But.

G

Also, actually getting seeing parks delivered and built. However, I would say.

G

That it was also the needs of the part of the city that were in we're on the.

G

East side of cupertino, there's a you know: a significant lack of park, space.

G

Compared to the west side of cupertino, we thought this was an opportunity for.

G

Us to actually even the balance a little bit between the amount of open space and.

G

Green space that folks on the set of cupertino.

G

Had access to but again this was, this was clearly a part of the community.

G

Input that we heard in that initial stage of engagement, where we were asking.

G

The community, what would you like us to design before we before we hired an.

G

Architect before we actually did anything in terms of designing the.

G

Project we heard from this community that open space should be a premium in.

G

Addition to many other things, of course, there's lots of priorities for this.

G

Project a lot of things that it can solve and that's always how we've looked at it, but open space was a key issue, and so it's of course that's an age-old.

G

Question of how do you create these vibrant communities? These really kind of.

G

You know unique and special environments, but also provide for open space, and we.

G

Felt that the rafael viñoly plan to actually elevate a good portion of open.

G

Space was a brilliant solution to the problems that could pertain. Ou presented.

G

To us and it's a long-winded answer, but I just wanted you know this is the.

G

Signature component of this plan, the green roof itself, and it's not just.

G

Something that we think will serve as a community amenity, but we think it'll.

G

Serve as a draw for our retail components, it'll serve as an amenity for.

G

Our office users it'll serve as an amenity for our future residents and we.

G

Think this is something that will clearly be enjoyed by everyone who comes.

G

And that's why this is not a private amenity. This is a public space that that.

G

We will maintain at our own expense, and we will provide to this community.

G

In a similar manner that they have access to their other parks and and.

G

Preserves and you'll provide the safety. Then that came up of course, and you know.

G

So this park will will serve not just as you know, a open space. It will also serve.

G

As a building in some instances and of course, every time you have people in a.

G

Public area, you need to make sure that they're, safe and provided for and so.

G

We've had obviously a number of discussions with fire district as well.

G

As the city of cupertino building department over the years as this is not.

G

A new concept for us about how we can actually provide for safety and safe.

G

Spaces on the roof and, of course, make sure that emergency.

G

Vehicles can access the roof in the event, that's needed, so this is all being.

G

Provided for in the plans- and it's of course gonna be continued to be part of.

G

The process, as we begin to pull building permits that have fire district review.

G

On them, there's sort of three questions that are, I would characterize is how do.

H

We ensure it will be financed, and one was one question was what happens in a.

H

Recession, another was what happens: the amount of change of ownership and how.

H

His maintenance financed, but I put those together as a bucket of how will it stay.

H

Healthy as a green roof over time over time, well, there's a financing question.

G

In there, as well as there, there's also that, why would we be interested in.

G

Making sure this green roof stays green, and I would just say that, as I mentioned.

G

You know this isn't just supposed to be a public benefit. Of course, that's that.

G

Was the original inspiration? But you know we will make something competitive.

G

Too, and in in marketing the opportunity to our retail tenants, it's as well as to.

G

Future residents and yeah: this is this: this park this rooftop park this you.

G

Know 30 acre green space is going to be used by really everybody, so it is.

G

Certainly not in our interest to to let it let it go and to district fall into.

G

Disrepair, you know, that's not to say that you know there won't be some brown.

G

On every now and then this is really meant to look like our foothills. This.

G

Isn't supposed to be an artificial turf area? This is supposed to look like and.

G

Feel like an authentic part of the santa clara valley, and so you know, it'll.

G

Evolve with the seasons, but we're very much interested in making sure this is a.

G

First-Class environment, for the entire time that we own it, which we have no.

G

Plans to change or our status on the property and he's going to soon so the.

H

Questions keep coming. One question was: how does light get under the roof.

H

Because there's there's activity like doesn't get under the roof it it.

G

Actually, you know pretty pretty well blocks the light, but instead of thinking.

G

Of this, a blanket that sits on top of a number.

G

Of blocks and buildings, think of it as a series of individual blocks and.

G

Buildings with individual green roofs on top and then imagine those buildings.

G

Actually connected by a bridge, and that's essentially what you have there.

G

Should be no impact to light or the amount of shade and shadow on the street.

G

As a result of the green roof concept, save for those bridge locations, I'm not.

H

Gonna suggest that maybe paulie submitted this question, but would you be.

H

Willing to agree to personalize the housing units at falco and maybe for the.

H

Audience to parcel eyes, it would mean, rather than one big multi-unit complex.

H

Being considered a parcel, each unit in that building would be considered a.

H

Parcel well considering that we have a an application for a tentative.

G

Submission map for condominium purposes right now for up to 2500 condominium.

G

Units for the residential eye- I don't think I'd be you know, committing to.

G

Anything by saying yes, but I would just say, is I mean there's this be 35 project.

G

Which you know we anticipate, will have a for sale component and we think that.

G

That's going to be, you know something on the order of you know: 500, maybe 600.

G

Units itself or more, this will be responsive to the market. We are, you know,.

G

Again, this is twenty four hundred and two housing units, half of which are.

G

Affordable as well as you know and other uses that are that are involved, so it's.

G

Really important to us to be able to have the flexibility to deliver those.

G

2,400 units over time and something that really has been done a lot and in recent.

G

Years is rental housing, something that has not been done much in recent years.

G

Is for sale and in terms of condominium and and that's something that that we.

G

Think people would appreciate having that opportunity to look.

G

A opportunity to buy something other than what's offered in cupertino today.

G

We think we could do a pretty unique offering at at valco, so I think you know.

G

The answer to the question is yes, our intent is to pursue condominium ization.

G

Of of the market rate component units in the project and if that'll help the.

G

Schools then, obviously that's going to be something that'll. That would be great.

G

And we'd love to support and in terms of the specific plan for a process I mean I.

G

Think that that's a that's a wonderful discussion to have in the context of in.

G

The context of that final approval and the development agreement is, as we get.

G

Into that stage of that process, very good just but we've got one question and.

H

You've sort of addressed it, but just so we make sure that this one gets answered.

H

So you're saying that the housing units will be both rentals and for sale, yeah.

G

Let me be clear: the affordable component under the sp 35 application is 100% for.

G

Rent the remaining 1201 units are at this.

G

Time we have, as I mentioned, filed an application for a map that would allow.

G

Them to be kind of minimized, whether or not we ultimately sell those units.

G

Individually or continue to hold them as rental units is to be determined, but.

G

Based on the the application, the design of the units, the fact that some of these.

G

Units are larger, significantly larger than typical rental product that we do.

G

Anticipate going to market with individual housing units at this site.

G

And, and one thing you've certainly mentioned that the number of units that.

H

Will be considered affordable, but your plan actually goes into greater detail.

H

For both at 80% of ami and below that, and so the one specific question is.

H

Asking about extremely low income households and how they would be.

H

Addressed yeah, no, I our project has espeon. Let me start from the top sp 35.

G

Requires 80% of am, and am I azaria meeting incomes of 1,200.

H

Units would be targeted at them. That's right.

G

Annual meeting income so 1201 units 80% is essentially what's required under sb.

G

35, we have opted to provide deeper affordability and we have of those 12.

G

Hundred and one units- actually, we are taking roughly three hundred and roughly.

G

Fifteen percent of the overall unit count and making those very low income.

G

Units sixty units correct exactly thirty to sixty units. That's exactly the number.

G

Those will be affordable to people earning fifty percent of a my and and.

G

That's obviously, significantly significantly more affordable, deeper for.

G

Ability than what's required by the bill in terms of the extremely low income.

G

Again, I think that's a it's a there's, probably two ways to respond to that.

G

It's a conversation that we ought to have in the context of the specific plan.

G

If it's a priority to the residents of cupertino and the city council to call.

G

For a plan that that supports that level, affordability, then, of course that would.

G

Would be we'd be open to helping to solve to to to that, but I would say if.

G

You're interested in seeing extremely low income taking up at maybe the state.

G

Level, it's not something that not only that sp 35 dealt deals with, but you know.

G

Our local arenas don't even deal with extremely low income. At this point and.

G

So, potentially, look at having extremely low income addressed within arena itself.

G

Might help actually creating those units? There's lots more questions, I'm gonna.

H

Ask you just one more and then hopefully we will get to more of the questions for.

H

You in the next segment, but under the last question I have here free right now.

H

Is under what circumstances would you be willing to go back to the specific plan.

G

Well, I think that you know we're engaged in that process. Right now I mean.

G

Obviously we're not driving it and we're they're writing the checks for it, and we.

G

Could have pretty easily said we'd like a refund on that money, so I would say.

G

That you know we're open to it today. I will never tell you that that we are not.

G

Intending to build the project that we have submitted right now, we are getting.

G

Ready we're going to icsc next week to talk to tenants about the spaces in our.

G

Men, rsp 35 application, we're beginning the leasing process. As I mentioned, we're.

G

Starting to commit commit time and and funds to designing the construction and.

G

And the actual build out of that project and for a project this size, it's.

G

Incredibly expensive to design this project so we're committing significant.

G

Resources to that I would just say it would it's very important to sand hill.

G

And to ownership here to do something that that is well received by this.

G

Community, it's been a guiding principle for us since we took this project on.

G

That is why you see the green roof in the plan. Today we could have very easily.

G

Done away with the green roof, it would have been less expensive to do so, but we.

G

Wanted to keep it in the plan because we wanted people, even though this was going.

G

To be a ministerial approval, we wanted people to understand. This was still a.

G

Project of and by cupertino, and so that's why it's in the plan today that.

G

Same sentiment applies to you know how open minded we are to the specific plan.

G

Process, we are rooting for it to to go well. We think that a lot of benefit.

G

Could come from a viable specific plan, but it's very important that I send the.

G

Message that unless this is a specific plan, that is a compelling alternative to.

G

The sb 35 project we have today which, in its own right, is a viable project and.

G

One ravine is invest resources into then it will not be something that we.

G

Ultimately pursue so, let's work together. I think that that works very good, so.

H

Again, I acknowledge that we did not get to everybody's question. We'll try to do.

H

It in this next segment but everybody's going to join us now and we're gonna.

H

Take a whole bunch more questions from all of you, so I'm going to slide over.

H

H

Okay, well, I'm up again, I hate it.

H

Excuse me, while I get organized okay, a.

H

Lot of questions that really relate, and we got lots of them on sort of the.

H

Number of jobs, the number of new residents, so I'm going to start by.

H

Asking read and then david may be free to chime in and what are the projected.

H

Number of new jobs that the office space will generate and whether the projected.

H

Number of new residents to cupertino okay. Well, I think that, based on the.

G

Office component work that we're looking at a little over 7,000 jobs, they're just.

G

Shorthand using roughly four per thousand, which is a it, is a, I think, a.

G

Fair way to look at the off the office component in this project, because this.

G

Isn't this is going to be, I think, space that companies use to put their valued.

G

Employees and if this won't be space that will, I think, be intensely intensely.

G

Programmed this is just you know our assumption, and certainly you know, we'd.

G

Be we'd be open to other input, but we're expecting roughly a little over 7,000.

G

Jobs coming out of the office and obviously with the 2,400 housing units.

G

You know that provides what a popular metric to talk about these days at jobs.

G

Housing, balance of you know roughly 3 to 1 for the project itself and you know.

G

What I would say is if I could just take a moment on on jobs, housing balance. I.

G

Think that that's a that's a pretty good way of just looking at the macro sense.

G

Looking across regions about what is happening in terms of development, it's.

G

It's a it's a hard metric to apply on individual projects because there are so.

G

Many competing objectives, but the metrics were really proud of. Obviously,.

G

Is the one having to do with affordable housing and in increasing cupertino.

G

I'll stock and their bmr by five times in this project, so I think that's.

G

Something that you need to look at. It's almost an issue of the greater good in.

G

Terms of what this project does in terms of in terms of jobs, housing- and you know.

G

Cupertino is compared to other cities that you know it's popular for office.

G

Tenants to go to us actually got a relatively healthy jobs, housing balance.

G

To begin with, so I think once you take our project in consideration, cupertino.

G

Moves from maybe a 1 7 to 1/8 in terms of the overall jobs housing balance. So I.

G

Think these are pretty healthy numbers and we're also accomplishing the goals.

G

Of providing an unprecedent amount of affordable housing here at the same time,.

G

As well as you know, revitalizing a dead mall so seems like there's a lot of.

G

Solutions that go into that question, so even how does that compare to here? Yes,.

D

So we generally, we use the rule of thumb, one employee per tune in 50 square feet.

D

Of office and less than that for retail, so that retail does sharing some jobs.

D

But not as not as intensely as office and then about one and a half employed.

D

Residents per housing unit is about the rule of thumb, so you can at one point.

D

Eight million office and 2,400 units- you can do that, do that do the math and it's.

D

It's doesn't, it doesn't aggravate the jobs, housing balance tremendously.

D

Doesn't improve it either, though I mean the the sp 35 project, but it does.

D

Provide, as we said, some very steep affordability, like a lot of us, be 35.

H

Questions and I'm gonna ask this one of several people. Where do you think sb 35.

H

Got it right and how, if at all, would you suggest sb 35 be amended, got it right in.

C

Terms of trying to balance the playing field between the jurisdiction and the.

C

Developer and trying to create some leverage just in parking standards just.

C

One of those ideas, but where did where the local jurisdictions often make.

C

Projects infeasible by requiring access parking, for example, insufficient density.

C

And in terms of affordable housing through a conditional use, permit process.

C

Challenge sequin challenges, those kinds of things that have made it very difficult and that's why we're in the deficit that we.

C

Are in terms of affordable housing, so sp 35 is trying to streamline that while.

C

Respecting the local jurisdictions ability to do the land use and zoning.

C

Planning but then they have to respect what they've done, but this is a work in.

C

Progress will continue to take amendments to the bill going forward, there's kind of a punch list of things out there. The jurisdictions are seen as.

C

They implement that and and those will be coming forward and clarifications in.

C

The language too, because it did come together and throughout the legislative.

C

Session with many different stakeholders weighing in, but I think the general.

C

Thrust of the legislation is very strong. Anybody would like to comment on when.

H

They think they got it right or where they suggested. It's interesting that.

D

They're only four projects, the entire birria that are that are actually.

D

Submitting under the streamlining process, the the valve project project is.

D

By far the largest and the most complicated of those four and just going.

D

Through the analysis we were going through now to see if it complies it's.

D

Much more difficult than you would think on a project that that's a sort of.

D

Streamlined project, so I think that you know it was a one. Size fits all major.

D

And I understand the legislature's desire to stimulate housing because we.

D

Do have a problem, there's no there's no doubt about that. But, as often is the.

D

Case they sort of create a very, very blunt object and one that frankly, I.

D

Don't think is really managed to produce a lot of a floral housing yet or nor has.

D

It been sort of well received by local government yeah, it's still very new and.

C

A hundred percent of affordable, certainly that's a great opportunity.

C

This is very unique, though, because it does have the commercial in office.

C

That's actually able to cross subsidize the housing. Many of the other projects.

C

Won't be that way, but the reason they did have at least two-thirds housing, but.

C

The third potentially for for retail and commercial uses it cuz, oftentimes city.

C

Council's and planning commission's require ground-floor retail of some kind, and if you didn't allow that in the bill, then that would be a way to kill, affordable houses. By requiring that, then you couldn't access, sb, 35, and so that's.

C

The reason that it does allow for some some office or commercial as well. Let me.

H

Ask you one more question about that and is how, as the bill was constructed, how.

H

Is it anticipated that developers would pay for in the affordable housing? Well.

C

So the idea of partnership with with nonprofit, affordable housing developers.

C

But oftentimes our affordable developers will also do their own standalone.

C

Projects and we have low-income housing tax credits at the federal and state.

C

Level and other subsidy sources, both the state level and locally, and that's the.

C

Way we put together our capital stack and finance, affordable, housing and now.

C

With the legislators passage of a permanent source for affordable housing.

C

In a bond on the november ballot, we're gonna have some financing. That's in the pipeline now to really be able to move these developments and really and.

C

Really move the needle in terms of production. I'm gonna ask one more.

H

Question then, handed over to layne and that the office space and we sort of.

H

Touched on this a little bit, but the office space that's permitted under sb 35 appears to in an unfavorable way increase that jobs. Housing imbalance was.

H

Was that considered when the bill was being drafted? Yeah I mean, but but also.

C

The environmental goals are very important, so both mixed use and mixed.

C

Income developments are really where we need to be moving and that's what the.

C

Bill is trying to address with the idea that being at people can live close to.

C

Their jobs, particularly lower income workers who are really being priced out of this of silicon valley, and yet we still need those workers here locally.

C

And for them to have to commute back in has it's been a total disaster, and so.

C

We're trying to address that in a very surgical way and that's why, for example,.

C

As many environmental groups have tracked the bill and washed it and then.

C

Ended up taking a neutral position on it because they saw the direction it was.

C

Moving was a project of the size contemplated under sb 35. This is.

C

Relatively unique but obviously it falls under the purview of sb 35, but the.

C

Majority of them, I think, will tend to be standalone, typically residential.

C

Developments anyway, great, so this will be open to everyone and you've already.

B

Spoken a little bit about the jobs housing balance. Do you feel I guess I'll.

B

Start with you dan do you feel that that would be a good metric for cities to use.

B

In assessing projects.

F

I guess I was brought up earlier. I think I do agree that it's it's when you're.

F

Thinking about the jobs to housing, it's good to look sort of at the macro scale.

F

In terms of the benefits and impacts, I think I think, there's a lot of other.

F

Metrics that are actually much more effective and helpful in creating.

F

Vibrant walkable environments that have you know housing, office and housing at a.

F

Variety of different price points, so I would say that there are a lot of other.

F

Metrics that we're looking at as we go through a process like this jobs, the.

F

Housing ratio is one of them, but I would say it's it's. It is a kind of a metric.

F

That I think more and more places are moving away from, or at least putting it.

F

Into the the pot with a broader range of considerations, as they're, going through.

F

A very complex project like this okay, are there one or two that you would.

B

Mention that come to mind. Well I mean even I mean I think you know, for example,.

F

Like when we start talking about housing, we're gonna start talking about density.

F

Pretty quickly and actually a lot of our messaging that we we do in communities.

F

All across the country when we're talking about creating walkable communities is that you know, let's even shift the conversation away from that.

F

Density number, because it actually doesn't mean a whole lot, because you can.

F

Have the exact same form of a building a five storey building on a 400 by 400.

F

Foot block and it if the units average size is a thousand square feet. It might.

F

Have a density of 60 units per acre, but by simply reducing that unit size to.

F

Seven or eight hundred square feet, the density would go up. You know a third, but.

F

The form will stay exactly the same and what that's done? It's actually that.

F

Entire system based on density has discouraged smaller, more affordable.

F

Units to be built, so I think, a big big part of why sb 35 is now on the table in.

F

California is we have a planning and a regulatory system, both in our general.

F

Plan and our zoning- that is, this density based system- that's actually causing a.

F

Lot of problems for community in terms of delivering housing, and I.

F

Think I like we like to shift away from that and talk about more tangible and.

F

Effective things like what is the quality of that environment along the.

F

Street, how are the buildings interfacing with it? What is the transition from you.

F

Know a larger mixed-use project like this into a neighborhood and even just.

F

How are the streets designed in a way that accommodates pedestrians, cyclists.

F

Future transit, as well as automobiles in in the project like this, because I I.

F

Mean there's been a lot of discussion about parking and even just parking.

F

Alone can be the biggest detriment to creating a vibrant make juice.

F

Environment like this, so we we do even on our team, have a alta planning as.

F

Looking at a transportation demand management strategy because at some.

F

Point you're providing so much parking that your your but the mitigations are.

F

Trying to make are going to be successful because you make it too easy for everybody to have a car okay. Would anyone else like to talk about.

B

That about jobs, housing ratio or any other metrics. I guess I would agree with.

D

Dan, it's, it certainly was a more popular metric, say 10 years ago, but if you think.

D

About it, doesn't it doesn't actually make a lot of sense, applied city by city.

D

Basis and our city's boundaries are pretty arbitrary. I mean you know.

D

Cupertino vs. saratoga, our boundaries were were set. You know basically based.

D

On politics and chance, and so you know saying well, kookiness should have the.

D

Same balance of jobs or ratio, jobs that san francisco does is just kind of silly.

D

Right so job is having the balance is much more relevant on a regional level.

D

But on a jurisdiction by jurisdiction, its you'll end up with a pretty.

D

Dysfunctional urban environment, if you try to apply it uniformly, that.

D

Way- and I would just say in the bay area over the past decade, we've produced.

C

Eight new jobs for every new housing unit and that's the why that's the.

C

Reason you have sp 35 is that the states has declared this issue to be a matter.

C

Of statewide concern, and not just a municipal affair, because it's actually.

C

Taking us over the cliff, it's not sustainable that the path that we're on.

C

It'll actually undermine all of our games. We've made in the economy as well over time, okay, great as far as- and this is open to everyone as far as a balanced.

B

Project, what would you feel would be a good balanced project. The ratio of the.

B

Jobs in the housing, what what is a good one.

D

I wouldn't necessarily come up with an arbitrary ratio. I think the site needs.

D

To perform well right, I mean, I think, whatever the the mix of uses, that.

D

Minimizes traffic, you know, keeps as many trips on site provides that level of.

D

Vibrance to support and a retail active retail area provides a significant.

D

Amount of affordable housing, you know that's what we're looking for. I don't.

D

Think an arbitrary ratios necessarily important anyone else. It also presumes.

G

That your project contains housing in it. I mean, I think, that's obviously.

G

Something that we'd all like to do, but I'll just point out the current mall.

G

Doesn't have any housing there today and there was a time where there was people.

G

That were calling for that mall to stay as a mall itself. So my point ultimately.

G

Is just that it's very difficult to legislate the market, and you know there.

G

May be communities that would seek more jobs. There may be communities that need to provide more housing. You know developers will be able to respond when.

G

There's, I think, a not only clear set of standards which obviously something like.

G

Sp 35 attempts to to clarify for applicants, but also you know good policy.

G

Goals that a city might have like, for example, if the if the policy of the city.

G

Of cupertino is to maintain roughly a jobs, housing balance.

G

And in the place it is and instead of making it, I think, project-by-project you.

G

Would probably say you know over a 1 or 3 year period, we want to make sure that.

G

We are in line with this with this balance, but recognizing that different.

G

Sites will require different things and in the market is subject to change and.

G

That allows the community to be flexible in terms of seeing projects come forward.

G

But at the same time you know keeps people focused developers, property.

G

Owners like us on, ultimately what the long-term goals of that city are. Ok,.

B

Great alright and then the next question.

B

Developments like valco today will shape the future of our city. Silicon valley.

B

And the broader bay area, what responsibilities, if any, do developers.

B

And cities have to the communities beyond their border. Let's go first. I.

D

Mean I don't know about developers, developers you know or trying to produce.

D

A product that meets the market, I think, I think, that's probably a more relevant.

D

Question for, for you know, elected leaders and cities around this region. I.

D

Think we all need to respect the the needs and the impacts that we have on.

D

Our neighbors, you know- and we do consider that sometimes our neighbors.

D

Don't as it sometimes, our neighbors have accused us of not doing it as well, but.

D

We certainly do a major impact on our neighbors, but you know the regions are.

D

Competitive, we have our big neighbor to the to the east. That would love to have.

D

Many many more jobs and maybe not as many housing units as compared to us. But.

D

We can't force the market, we can't force major employers to want to go to where.

D

Our elected officials want them to be so. You know we have to respond to what the.

D

Market is pushing on it, but but we also have to respect our neighbors, and I.

D

Think we try to do that.

G

From our part, you know, speaking for santel property company or a local.

G

Developer, I mean we're not an international concern, we don't. You know.

G

Move from one project in miami to another in portland- and you know to.

G

Denver and then you know wind up in cupertino we, this is our market. This is.

G

Where we work, we attempt to have long-term relationships with every city.

G

And and that we can within this within this region, and so of course that's you.

G

Know I think that many are like us in terms of this approach. There's there's a.

G

Great deal of local developers here that you know a spouse that that outlook in.

G

Terms of you know how you, how you do business at the same time. You know as a.

G

Developer, you can only do so much and you really look to the policies in place.

G

In the season which you work and and obviously when we look to you know doing.

G

Project a project at at valco, we look to the general plan and and and it's up to.

G

The city to compose that plan in a way that that that is, I think, you know her.

G

Monistic with its neighbors at the same time, you know, typically, we would go.

G

Through the sequel process, which is what we're doing right now under the specific.

G

Plan and in that sequel process obviously is an opportunity for these.

G

Other jurisdictions to weigh in with what they think the impacts of.

G

Development will be, and, of course, we're going to be, as we continue with the.

G

Specific plan very interested to see what the what input you know surrounding.

G

Cities and other agencies have on the redevelopment of valco so that I think.

G

That's a another way for these cities to get involved, and I would just say in.

C

Terms of, for example, the peninsula and silicon valley, where may the jurisdictions are contiguous, it's really important that each jurisdiction do its.

C

Fair share and that's why rena is so important to be able to allocate those.

C

Numbers and every jurisdiction should be zoning for multifamily sites and have.

C

Enough property zoned multifamily sites to really put some pressure on land.

C

Prices because now in silicon valley, in some cases, land is over ten million.

C

Dollars an acre or more and that's a crisis for affordable housing in.

C

Particular and so just put on your radar, senator weiner has another bill coming.

C

Down the pike which is sb 828, which is reading a modernization arena reform.

C

Which means putting more teeth into that to make sure we are properly zoning.

C

Sites to do the housing so that we can maintain that jobs, housing balance. Thank.

H

You and acknowledging as michael, was giving us smarter about sb 35 that a.

H

Component of sb 35 in terms of its community benefits, is the affordable.

H

Housing and is the market rate on labor. But if sandhill were to agree to provide.

H

Some community benefits on top of those. What would your priorities for those.

H

Benefits be, I think I spoke yet last week about the crisis of both.

E

Transportation and teacher housing that is very real right now we are facing a.

E

Crisis and being able to hire teachers there's a shortage not just here in.

E

California, but all across the nation, which means the people that have those.

E

Credentials and are able to do those jobs can go almost anywhere and get a.

E

Job, so we have to make it possible for them to come here and teach the kids of.

E

This community, like they have for so many years. That's why many many people.

E

Move to this community was the great schools and if we've got to figure that.

E

Out so I think it's a balance of thinking. Could we have some teacher.

E

Housing could we have some solutions for those teachers that live so far away to.

E

Make the housing affordable and and then it's always that balance of also paying.

E

Them enough, so they can stay just even in the greater bay area, and so that I.

E

Think all three of those things are part of the discussion that we would want to.

E

Have could we make it more possible for more teachers to live more locally? I.

E

Think that would be great.

H

What would be in the city's wish list? Well that polish talked about week may.

D

We have some of the same issues. I have a mid manager, very talented employee that.

D

You know just told me the other day that she might have to leave, because she.

D

Can't you know: she's got two small children, she can't come you for an hour and a half each way, and you know it's not sustainable. For.

D

Her so she's, you know gonna probably have to find someplace we're closer to.

D

Where she lives so clearly, housing is something that I think affordable.

D

Housing is something that's important. We also need to find some help with transit.

D

In this area, it's probably not something that's that this project can solve on.

D

Its own, we have huge employers in our region that have essentially tried to.

D

Solve the transit problem by themselves with with private buses, and that's.

D

Really no longer working, so you know we would love assistance to get some big.

D

Transit facilities here that can you know, keep people off highways aside from.

D

That we need open space and that's something they'll be looking for in the.

D

Specific plan- and you know I'm sure they were also various other. You know.

D

Facility needs that we have as well that we'd be looking for this project to help.

D

That with and I would just clarify for affordable housing.

C

Our nonprofit, affordable housing developers, they also pay all the same.

C

Impact fees that market rate developers do in terms of parks, fees and school.

C

Impact fees to mitigate the impacts that they do bring with with additional.

C

Residents and sp 35 doesn't do anything to undermine that that whole regime and.

C

The mitigation fee act in those fees the developers have to pay. So let me ask you.

H

The question are you contemplating making any voluntary contributions to.

H

The community, if you go down the sb 35 housing in the market, right yeah. No, I.

G

Think you thank you for the question in tracy. I spoken at length already about.

G

You know the the journey that we've been on with this community for the last four.

G

Years and and that journey began with an.

G

Exploration of the priorities for this community, not just in terms of what kind.

G

Of retail they wanted, and- and you know what what they imagined in terms of the.

G

Actual place that we'd be creating together, but what potentially none nexus.

G

Or nexus benefits the community might ask for a development like this to help.

G

Them solve so we got into this property fully in fully willing and and of the.

G

Intent to have that discussion and talk about priorities at the time of approval.

G

And you know hope that the priorities at the communities- that's you know, presents.

G

To us at the time or those that continue to be lasting priorities throughout the.

G

Life of the project as we build it and operate it and enjoy it, so I would say.

G

That you know again, we haven't changed. We are still very much interested in.

G

Doing something, and that involves community benefits and and frankly, like.

G

I said if, if we are to, if we are to change gears and go from an sp 35.

G

Project to a specific plant driven project, one of the important things.

G

Would be, is that it is of. It is something that the community would be.

G

Very excited about so I think that, of course, we continue to believe that now.

G

That the community's priorities are to support schools and- and we think that.

G

That's a that's, a wonderful idea and something that we can talk about with.

G

With polly and her counterpart at at cooper community school district about.

G

What the near-term and long-term needs are of the districts that you know.

G

Development like this could help solve and I think that's probably an.

G

Appropriate appropriate exercise for the community to go through and thinking.

G

About that over the course of the remaining course of that of the the.

G

Specific plan itself here and and yet in terms of in terms of transportation,.

G

Solutions we are also very interested in those our selves, our original project.

G

Proposed quite the long list of of transit benefits and measure d had all.

G

Of those benefits incorporated into it, so this is not something that we'd be.

G

Thinking about for the first time, I think I think you know the city manager.

G

Is correct? It's I think the development community is somewhat limited in terms.

G

Of what it can do to solve these regional problems, but to the extent that.

G

There can be benefits that are important to this community that that we can help.

G

With through this project, we want to hear about that, and also to the extent.

G

That there's a role that we can play from arsenal from our vantage in terms.

G

Of helping this community with these larger solutions about bringing.

G

Transportation and transit to cupertino and in a meaningful way. That's also a.

G

Role that we'd be open to as well just please, because I think this is a.

F

Critical goal and objective of the specific plan process is this: is the.

F

Specific plan process is the opportunity for the for us to work with you all to.

F

Determine what your priorities are in terms of amenities within the project.

F

And then try to figure out a way with our economist, where that it can actually.

F

Be a viable alternative for sandpeople, so I think that's that's a really.

F

Important message later I'll show up this sunday through the course of next.

F

Week go online to participate in the survey, because this is the opportunity.

F

For us to help you sort of clearly communicate what the priorities are, what.

F

You'd like to see in us to try to figure out a way to make that viable within the.

F

Specific plan good now this question I'd like to start with your outside.

B

Consulting perspective and then come to the inside city perspective, so the.

B

Question is it's been suggested that cupertino should resist development? It's.

B

Big enough and other cities around seem to have successfully resisted growth if.

B

Cupertino can resist all further growth should it I mean it's. It's.

F

I think the part of the story we often tell in a community when we're brought.

F

In to do whether it be a downtown plan, a corridor plan, a neighborhood plan is.

F

That all urban all built environments evolve you you will not be able to find.

F

A single place in terms of built environment anywhere in the united.

F

States that stayed stagnant in a point in history and I'll often show a.

F

Black-And-White photo we're doing the downtown plan for davis to show a.

F

Black-And-White photo of the dirt road, the one-story sort of western shopfront.

F

Buildings and said well would, if would have in the point in the history of your.

F

Town, your your ancestor said: we like it how it is we're gonna we're just gonna.

F

Freeze it right where it's at and the reality is that's just not the way the.

F

Built environment works, it's always evolving. It's always changing. Now.

F

Communities you know, can and do need to be smart about what sort of framework.

F

Policies regulations they put in place to allow that evolution to happen so.

F

It's done in a way that is part of the community's vision through your general.

F

Plan through your zoning codes, through the specific plan in this instance, but.

F

It's I think it's the just. The reality is, as places are, going to continue to.

F

Evolve so just working to put a framework in place to enable them to.

F

Evolve in a way that the community's interested in supporting- and I think you.

F

Know just the reality of us being in the bay area and being in the one in the.

F

Market, that's in the highest demand office space, whereas it everybody wants.

F

To live here, everybody wants to work here, it's it's just it. It compounds the.

F

Pressures, and so it just makes it more important to do smart planning whether.

F

It be transportation planning land-use planning visioning like this, to make sure that those frameworks are in place for that.

F

Evolution to happen, I just find it fascinating to be. We want to approve an.

C

Apple headquarters or a google headquarters over against development, I don't understand how that works. Okay, good point, yeah yeah, I'm not sure I.

D

Agree with one of the premises, which is that all these other cities around us every resisted development makes any vales on.

D

The cusp of approving, I don't know how many millions of square feet of office.

D

And santa clara has a project that has 10 million square feet of office and I.

D

Don't know how many thousands of residential units, and now, if you just.

D

Approved 10,000 residential units so so clearly a lot of our members are not.

D

Resisting development at all- and I think you know there we do have a segment of.

D

Our community that says well, you know we should, you know, provide only the bare.

D

Minimum of housing and by the way we shouldn't have any office at all, and you.

D

Know I think the question will be you know we do live in a dynamic economy and.

D

If you don't allow businesses to grow, some of them will move, and that might be.

D

The business you work for and do you mind, moving to pittsburgh with your business and I think most people in that position would say no, no, let they let.

D

You know my neighbor who works for a different company. Well, maybe they can go to ohio or something and I'll get to stay here. That's not the way the market.

D

Works, so you know you, you have to be willing to if you're willing to take the.

D

Position, we don't want to grow, you may be the one. You know when the musical.

D

Chair stops, it doesn't have a chair. So if you're comfortable with that in your.

D

And you know you're at least intellectually honest and say yeah. You.

D

Know I may be the one to move, then that's at least a little bit more viable.

D

But I don't think that many people would say that. So I think the job that we have.

D

Is to be able to grow in a way that minimizes impacts and preserve this, as.

D

Much as the community likes about itself as possible, but you know sort of the.

D

Drawbridge approach, I don't think, is viable least long-term. We have lots more.

H

Questions so do another one for michael that you sort of touched on this before.

H

But we got another question on it, so maybe a little more clarification.

H

Why did sp 35 only require low and very low income housing and none for.

H

Extremely low units and a huge project like valco, wouldn't it be more possible.

H

To have the mix yeah, it's I think the the reason is is because it's it's for.

C

All housing and 80% of ami n below is particularly for market rate kind of.

C

Inclusionary housing an inclusionary tends to be not as deeply income targeted but remember. Sp 35 also applies 100.

C

Affordable and all the special needs projects and others, you know where you.

C

Have wraparound services for people, so the entire gamut of housing is included.

C

In sp, 35, streamlining and those require special funding sources anyway, to really.

C

Get to the li and get those services in there and that kind of thing, and that's really what our nonprofit, affordable housing developers specialize in. Thank.

B

You great I'll take one poli. This one is for you. What number of students are you.

B

Projecting will be added to our schools if you know with sb 35 versus the.

B

Specific plan: well, we don't know what the specific plan is. So that's a little.

E

Tough, but I think we we have looked at the number of students that could be.

E

Generated under sb 35 and there's a couple complications with it. We only.

E

Have a very few examples of below market rate housing in our local area to really.

E

Determine what the student generation rate would be, so you could take it. It.

E

Probably is in the range we've looked at the most extreme because I think that's.

E

What you ought to know if you're working in schools, you want to think what's the.

E

Worst-Case scenario and be sure you're ready for it, and it appears to us that.

E

The most extreme highly unlikely, but if I'm going way out on a limb, would be 300.

E

High school kids, and if you recall the slide that I showed by the time these.

E

Units I'm going to assume it's not 60, it's were six, but even if you assume.

E

Four or five years that wouldn't even backfill the number of kids, we would.

E

Have already lost and he's the generation of funds would easily cover.

E

The cost of those kids now there are people that would ask us, is that going.

E

To overcrowd any particular place, and I think that's where we have to look.

E

School by school, at the size of the schools- and I would say the same- I've.

E

Had the same conversation with craig we've looked at this, the number of.

E

Students that they would generate- and he said it would be- we know it would be.

E

More likely more than I just said, probably double remember. They have twice.

E

As many years and they would have lost three times that or more by the time.

E

These housing units would be in place read a couple for you. These are some of.

H

The specifics and you touched on it in your presentation, but maybe a little bit.

H

More specific here and I'll, give you one question at a time. The first one is what.

H

Makes up the retail stores and I think, they're looking for the mix and in that.

H

Mix maybe to touch on the definition of retail. Does that include entertainment.

H

Restaurants and things I'm sure I'll just say to to piggyback on what polly.

G

Was just addressing I mean in order for an s, be 35 projects come about, it has to.

G

Conform to the standards that are in place at the time, so it's very easy for.

G

A city or a school district to take a look at what planning standards apply.

G

And think about what those you know, potential impacts could be so my point.

G

Is these are things that have all been studied before more than likely, but it.

G

Also serves to point out that developers can't come in and just make up a new set.

G

Of rules to propose under sb 35 as well that I'll just say an answer. Your.

G

Question of what what our retail project will be, one of the rules that we're.

G

Following is the requirement that no more than 30% of our retail can't be for.

G

Entertainment use, so that's one, one rule that we will be following now: we've got.

G

We've got some interested users from on the entertainment side and we expect.

G

That that that will be something that we're able to achieve within the.

G

Threshold of what we're allowed to do and with any luck we'll be able to get.

G

This project to prove and get amc coming back, they've committed to return in the.

G

Event that we're able to get an approval this year. Another reason why it to us sp.

G

35 was so critically important. I am seized an anchor in the truest sense of.

G

The word on this project, and not only will they bring bring customers and and.

G

And moviegoers, but they will bring other retail tenants and they will. They will.

G

Reserve as a draw for this project and they will attract red restaurants and.

G

They will attract traditional retailers, who want to be a part of that energy.

G

That a movie theater use, especially one at the level in the class of amc, can.

G

Bring so we are excited about the entertainment component because part of.

G

What this is is not just creating a shopping environment but also a vibrant.

G

24-Hour environment, where people can feel like they can come morning day and.

G

Night and and have something to do at valco town center and so along the same.

G

Lines we're gonna be bringing forward our ice uses as well as our bowling uses.

G

And and these have been again been communicated to us by this community.

G

Community over the past many years are important elements of our retail plan in.

G

Addition to that, though, as I'm as you mentioned, there will be other true.

G

Retailers and we're looking at stevens creek boulevard as being a great.

G

Opportunity for anchor ability for this project we've got in our current.

G

Application we've got the only instances of two-story retail is on stevens creek.

G

Boulevard and- and this isn't too unique tenants- this is one tenant existing on.

G

On two floors along stevens creek- and these are in the spaces of from 25 to.

G

50,000 square feet, so not the department store tenants that that we used to have.

G

Anchoring these retail centers, but junior anchors that will continue to be.

G

The the gateway, the the retail gateway to these projects in the most strategic.

G

Locations where we have most of the vehicle passed by trips and and they.

G

Will start these promenade stat that people will be able to enjoy, as you.

G

Enter and come into the project and arrive at those town, centers plazas, that.

G

Ultimately, will serve as the heart of the project itself, so I just wanna make.

H

Sure we answer this person, so I think what I heard on the 400,000 square feet.

H

About a third of it will be, entertainment, two-thirds will be restaurants, and you know, and traditional retail and.

G

Again, we're gonna have a variety of traditional retailers here, we'll also.

G

Have new concept, obviously one thing we're seeing is you know the advent of.

G

The relationship between physical stores and digital commerce, and so one thing.

G

That we're looking forward to doing is providing a format for these internet.

G

Presences ecommerce presences to be able to actually locate in brick-and-mortar.

G

Spaces here at the balco town center, and so so we'll have traditional retail will.

G

You just walk into a store and you'll, see a lot of employees and you'll see.

G

Some a lot of inventory and then you'll also see showrooms where you you won't.

G

See too many employees and you won't really see any inventory at all other.

G

Than what's than what's, merchandised in the showroom itself, so these are a.

G

Variety of environments that our current application will support. As you look at.

G

It in detail you'll see that retail spaces have a right variety of depths.

G

And a variety of sizes, because we want to be creating a very diverse and.

G

Interesting retailing experience with a number of different experiences.

G

Supporting a number of different itineraries as we try to accommodate our.

G

Residents our workers as well as, of course, are our locals great. I have.

B

Questions we could be here till 11 o'clock tonight. These are great.

B

Questions so very quickly, if we could dan is the.

B

Green roof, a part of an alternative for the specific plan, and, if not, why not.

F

Tough question I mean I guess, through the course of the process, since we.

F

Started several months ago, I guess we we didn't feel a huge majority. We didn't.

F

Start we didn't hear majority of the community sort of beating the drum that they felt that they wanted the green roof or not necessarily that they were.

F

Against it, but it it didn't in our engagement, it didn't sort of rise to the.

F

Top in terms of priority for the, I guess, that's what we felt then sort of.

F

Distilling that information, so I guess we wanted to show a series of other.

F

Alternatives ways that you could achieve a vibrant.

F

Mixed-Use environment, with a series of public spaces that doesn't have the.

F

Green roof, so that that's the that's the primary reason I said: if we you know in.

F

Next week's process heard a large group of the the participants in the community.

F

Saying this is a priority for us there. It's not our decision to make it's. It's.

F

It's really the community's to make. So if you know, if there's, if the majority.

F

Of the folks out there and listening watching on tv want that element make.

F

Sure they, let us know that, because we we didn't really get strong sentence.

F

Sentiment, one way or the other, it was fairly neutral, and so we didn't want to.

F

Sort of pull it along in a way because we didn't feel it was a priority for the.

F

Community, a couple of these questions, this one's for david and the essence of.

H

A couple of the questions is: where are you in evaluating the submission for sb.

H

35, what's your timeline for that? Pretty close, I think we'll probably have a.

D

Response back to the applicant, probably and then that's maybe 10 days, okay,.

B

Okay, I'll take one, so this one is for polly and then for reed 30-second drill.

B

Ready: okay, what opportunities exist for easy partnerships, for example? Would it.

B

Be possible to have local schools provide art for the empty windows in the.

B

Bridge over wolf road- I I have never found any of those.

E

Discussions to be complex, so I would say yes, we've talked about a lot of things.

E

Adult ed we've talked about an innovation center, a place where we can.

E

Showcase kids, and I think that would include art good well, I mean I look. I.

G

Think that we've always looked at the site of supporting mixed use, 2.0 and.

G

It's not just your basic retail housing in office. We want to do other things.

G

That make this a genuine community-based project. There's a town center needs to.

G

Feel like the place in which it's located so yeah, we are. We welcome those.

G

Opportunities with open arms, we want to give this an authentic environment.

G

Vibe and make sure that the fabric of this project is one that you know, people.

G

In the community can recognize and identify with so this sort of.

G

Partnership does that great? I have one last one for you breed, and that is where.

H

The car-free areas in belko town center the picture showed cars along the.

H

Restaurants and by the amc, do you envision something like stanford.

H

Shopping center well, cars are well they're, not terribly.

G

Popular to us in this room, they're incredibly important to retailers and if.

G

You create an environment that, from the get-go says, cars aren't welcome, then.

G

That is yet another challenge that you are imposing upon the future retail.

G

These up or the track, you know the attractiveness of the site to retailers.

G

The car free spaces that we would envision aren't necessarily those that I.

G

Think pervade the site in terms of the actual design today, but from a.

G

Programmatic standpoint over time, we think that we think that we can close.

G

Streets and and find opportunities where we can not only have you know one-off.

G

Events that, of course, the community would would be behind and a part of, but.

G

Also, potentially explore opportunities, as we focus more on autonomous vehicles.

G

Or, certainly on more on ride-sharing we can. We can really focus how people.

G

Arrive at the site and and bring our retailers along about how the future of.

G

This place and this destination and our goals for placemaking can still provide.

G

A successful environment for them to be located in, but obviously this is you.

G

Know, in addition to just talking about retail and the fact that we have, we have.

G

Streets that ultimately one day can be closed off at the end of the day. This is.

G

A no we're obviously very excited about the walkable and bikable nature of this.

G

Project how we're going to connect back to the to the urban street grid and.

G

It'll provide a number of ways that I think for people to get around.

G

And access the site and and travel in between our project and main street and.

G

Other areas of cupertino that people would may rather walk and bike to good.

B

Good, unfortunately, we are running out of time at this point, so thank you so much.

B

For participating in this, but we want to give you about 30 seconds to just give.

B

Us your final thoughts. What would you like us to walk out of the room with so.

B

We'll start with you, you know, be patient, we're you know our.

D

Goal is to to end up with a project that is an improvement over. What's there now.

D

Which? Frankly, isn't that difficult, considering the dead mall? But but that.

D

But provides significant benefits, including affordable housing, including.

D

Open space, including community, uses that benefits to schools that has that.

D

Attractive downtown commercial in a retail vibe to it and that actually you.

D

Know can be built because it makes a developer enough money to actually attract investors. Thank you, polly. Well, I would echo what you just said, and I.

E

Would say that the schools really want to be partners in this. We have taken.

E

Real pains to investigate all the concerns that we've heard from the.

E

Community about overcrowding about sort of ruining the schools, because there.

E

Wouldn't be adequate funding because we really do think this is a viable.

E

Wonderful opportunity in the making for this community to come together and do.

E

Something together in that mall that, as you said, it's not the way we want it to.

E

Be forever so I'm excited to have schools even part of the conversation.

E

And I think that's the way it should be in the future, so I think this has the.

E

Potential to be a real model agreed, I just want to say first of all, you know.

G

Sand hills door is always open, we're local, we have. You, know an office here in.

G

Cupertino, where, obviously, you can find us in main street.

G

Our website is www.pevs.com, I see those emails, so please, you know, send the.

G

Emails or get in touch with us and we would love to continue the conversation.

G

That we've been having for four years now. I would just say that you know.

G

Whether it's the sp 35 application or the valco.

G

Specific plan that's now underway, there will be great deal of opportunity to.

G

Provide input as to how this site is ultimately developed and and there's.

G

Layers of opportunities for the community to have input on, in especially.

G

In the sp 35 program, where we are going through and programming the site- and we.

G

Are out there talking to potential users for the housing and as well as retailers,.

G

A number of things that we can do to create the partnerships that we've.

G

Discussed tonight that we'd like to do if that is the ultimate scenario that.

G

We're pursuing, of course, under the specific plan, there's going to continue.

G

To be community input, and we just want to know that you know that we're.

G

Listening we're gonna continue to be involved in this community and we really welcome the outreach. Should you ever want to engage with us. We value that.

G

Greatly, thank you, and I just want to say we're in the midst of a humanitarian and.

C

A shelter crisis and many of our families are suffering tremendously. I.

C

Just want to appeal to your humanity and your compassion. Please support.

C

Affordable housing, it actually is a benefit to our communities in to our.

C

People- and it really represents the best that we are, was we come together and.

C

Care for all of aver for everyone in our communities, so I just want to encourage.

F

You as you're envisioning and working with us to envision the future of this.

F

Environment, the new downtown for cupertino think about the places you've.

F

Traveled, whether it be in the united states anywhere else in the world and.

F

Think about what elements made those places great and how could we translate.

F

That into the vision, within the specific plan, I think of a really intriguing.

F

Place that I traveled recently was frankfurt, germany and it was a part of.

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The downtown center that they actually just recently reconstructed so they.

F

Reconstructed it in the exact same street and block pattern as the historic.

F

Downtown was before it got bombed out, but it was completely reconstructed with.

F

Contemporary buildings, so it was a really interesting juxtaposition between.

F

Sort of what makes a great urban framework with a series of really.

F

Beautiful contemporary buildings, so I just encourage you to think about those.

F

Places you've traveled that you've seen in books bringing.

F

Those ideas to us and and work with how let us help you translate those into.

F

Sort of elements that you'd like to see in this in this vision for for your new.

F

Downtown very good, I'm gonna ask if you could remain seated for just like 60.

B

Seconds while I wrap up everybody stay seated, I got to stand up and go to the.

B

Podium and move a slide. Scuse me for a minute.

B

So, while we're doing that, let's thank our guest speakers fabulous. Thank you.

B

And I just want to let you guys know, although these slides are gonna, be.

B

Available at this really long url, but you can keep it simple, remember: lw, vcs,.

B

League of women, voters, cupertino sun, evil.org click on the calendar and it's.

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Right here on today's event, so bruce our webmaster is here it's on the website. Ok,.

B

So, look at the you scroll to the bottom. It'll save you past events, but it will.

B

Be on our website so check that out. If you would very quickly, we do have.

B

Another event: on wednesday night, two more nights from now 7 p.m. same.

B

Location, you could even have the same seat if you'd really like to we're going.

B

To have the sheriff's forum for about an hour highly recommend you come to that and then the hour at 8 o'clock, we're gonna.

B

Go over the ballot measures bring your ballot with you we're going to answer as many questions as we can try to make it simple. So you know what the heck you're.

B

Voting what you're voting about and you can see we're into a lot of letters. I'm.

B

Looking this going submit your questions via email, it's on the screen. I don't.

B

Want to read it all to you, but you can also go to lw vcs or click on contact us.

B

And send us the the question we'll afford it for you. So a reminder.

B

Democracy is something that you have to participate in, so please remember to get.

B

Informed and vote and a brief message: this is affordable housing week. This.

B

Week, there's all kinds of activities: if you take a look at s v at home, you'll.

B

Find all the activities for the week and ready thank you for coming. That's a wrap.

B

Now you can get up. Thank you so much.