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May 21, 2008
Unanimous, After Questions by the Council
Yesterday, the San Jose City Council unanimously approved the City staff's recommendation to negotiate and execute a land sale to the real estate development group led by Ed Storm, Lew Wolff, Dick Hunter, and John Fischer. The vote did not come without questions, mainly centered on a letter written by a lawyer asking the Council to be 'careful' about approving this land deal in light of it being a platform for building a soccer stadium, when the funding mechanism for building that stadium rests on what the lawyer called 'tenuous' legal grounds. The questions were mainly asked by Dave Cortese, Kansen Chu, and Forrest Williams.
The deal approved yesterday, if executed, will net the City of San Jose $17.2M in cash. The City originally purchased the land for $25 per square foot, and will sell 88 acres at the market price of $46 per square foot. The total cost to the developers will be $132,200,000. The purchase relieves the City of debt payments of $7M a year on the property, and the option payments of $3M every six months will result in $2M in savings to the general fund in each year from 2008-2009 and 2009-2010. Prior to the City entering into exclusive negotiations with Wolff and his partners in June 2007, there had been no viable commercial interest in developing the property.
Mayor Reed started by disclosing, somewhat tongue in cheek, that he had a meeting with Wolff: at Buck Shaw at the pre-game coin toss for the home opener. Mr. Cortese asked questions about whether there would need to be an additional environmental impact report on the use for hotel, office space and retail. Mr. Krutko responded that there would not be for those uses but for the soccer stadium a supplemental or new E.I.R. would be required on top of the one FMC did prior to the sale to the city in 2004. Mr. Cortese also wondered whether a hotel of only 300 rooms would maximize the hotel value near the airport. Mr. Krutko said there had previously been no interest in developing hotels at that location and that the hotel was focused on the stadium and retail to be built there. Kansen Chu asked whether other developers had bid on the land. Krutko responded that before Chu was elected to the Council, the City agreed to enter into exclusive negotiations with Wolff. Mr. Williams asked the Council to please remember that this is really just part of the soccer stadium deal, and not 'just a land sale.' Council member Pyle thanked the City Staff and Ed Storm for their hard work and good faith efforts at reaching a fair deal.
After public comment, including from our own Don Gagliardi and Ned Zuparko, Nora Campos had questions. Mr. Liccardo had previously pointed out Don and the good work SSVCF is doing in conjunction with Mr. Liccardo's office for gang prevention activities by sending young men to the games with the Ultras.
The council then unanimously approved the City Staff recommendations. For video highlights and interviews, as well as a report, see our friends at Center Line Soccer.
Posted by Colin at 10:14 AM | Comments (0)
May 17, 2008
City Council Meeting May 20, 2008 at 2:15 p.m.
That is when we need you to attend City Council Chambers to show support for the land purchase part of our stadium deal. We are item 4.1 (h) on the amended agenda. Wear Quakes Blue and Black. Go Quakes.
Posted by Colin at 02:02 PM | Comments (0)
May 12, 2008
City Council meeting postponed
We've just received word that the San Jose City Council has postponed the vote on the sale of the Airport West property until next Tuesday, May 20.
This means there's no reason for SSV members to attend tomorrow afternoon's meeting. We apologize for any inconvenience that this causes.
Posted by Jay at 07:34 PM | Comments (0)
If the Don says it, Part 2
Don Garber's attendance at the Buck Shaw opener was not without reference to Soccer Silicon Valley and our group's efforts to get the team back and get them a stadium. Pat yourself on the back. You did good.
Posted by Colin at 02:25 PM | Comments (0)
City Council Meeting May 13th
This is a reminder that tomorrow the San Jose City Council will vote on whether to authorize the sale of land at the FMC site to Mr. Wolff and his development partners. It is one more piece in the stadium puzzle, and we need your help to get it done. It's on the 1:30 calendar, item 4.3. Although you never can tell, we would expect them to get to this item not long after the 1:30 p.m. start time. You can park under City Hall.
Posted by Colin at 02:11 PM | Comments (0)
May 11, 2008
Kudos to Pyle, Jussen for Almaden success
The blog sends congratulations to San Jose City Council member Nancy Pyle and Almaden Valley Youth Soccer league president (and founding member of Soccer Silicon Valley) John Jussen on the opening of the new the Leland Sports Field Complex. We know both Councilmember Pyle and the tireless Jussen have put a lot of work into this effort and it's going to pay dividends for generations of Almaden Valley youth. Well done!
Posted by Jay at 12:06 PM | Comments (0)