HomeMy WebLinkAboutItem 4.18 WestDublinBARTStation
CITY CLERK
File # OHJOJ[O]{5J[5J
AGENDA STATEMENT
CITY COUNCIL MEETING DATE: September 20,2005
SUBJECT:
Update on West Dublin BART Station Project
Report Prepared hy: Christopher L Foss
Economic Development Director
ATTACHMENTS: 1. Memorandum of Understanding (M.O.U.) between the City
of Dublin and the San Francisco Bay Area Rapid Transit District
(BART) - June 2000
RECOMMENDATION:!¥, Receive the report.
FINANCIAL STATEMENT:
None at this timc.
DESCRIPTION: The pwpose of this memorandum is to provide the City Council with a status report
on the activities surrounding the West Dublin BART Station project.
BackllTound:
On February 8, 1990, the BART Board of Directors approved the extension of the BART transportation
system to Du.blin and Pleasanton. Along with the approval of the DublinIPlcasanton extension, the Board
also certificd an Environmental Impact Report that evaluated the environmental impacts associated with
extending thc BART rail line through the Liverm.ore/Amador Valley area into the communities of Castro
Valley, Dublin, Pleasanton, and Livermore. Thc approved BART extension to the Tri-Valley included
two (2) BART stations - one east of Dougherty Road I Hopyard Road, and one in the vicinity of thc
proposed West Dublin BART Station (Golden Gate Drivc and the 1-580 freeway).
The City of Dub Ii nand the City of Pleasanton have been interested, tor some time, in the development of a
West DublinlPleasanton BART Station. To that end, the San Francisco Bay Area Rapid Transit District
(BART), in Fcbruary 1999, entered into negotiations under the Infrastructure financing Act with Jones
Lang LaSalle (now Ampelon Development) for the development of a mixed-use project and a proposcd
West DublinIPleasanton BART station at Golden Gate Avenue and 1-580. In late November 1999, the
BART Board authorized the General Manager to complete negotiations and execute a development
agreement and long-term ground lease with Joncs Lang LaSalle (now Ampelon Development) as well as
negotiate financial participation agreements with the cities of Dublin and Plcasanton, and enter into a Joint
Powers Agreement (JPA) with the Association of Bay Area Governments (ABAG) to issue bonds to
finance the construction of the BART station and related transportation improvements.
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COPIES TO:
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To accomplish this project, the cities of Dublin and Pleasanton cntercd into a Financial Memorandum of
Understanding (M.O.D.) with the San Francisco Bay Area Rapid Transit District (BART) - datcd Junc 6,
2000, to provide a level of financial assistance to support the West Dublin BART Station (see Attachment
I). In that M.O.U., the City of Dublin committed to leasc the parking structure from BART for a rent
equal to the City's rcvenues (sales, property, and transient occupancy taxes) from the private dcvelopment
(hotel, retail, and residential). The agrecmcnt callcd for the financial assistance to cease as soon as BART
revenucs (fare box, fare surcharges, and other sources identified by BART) were sufficient for two (2)
consccutivc years to finance the bond issue's debt service. The City's commitment to financially support
the project rangcd from 12 to 17 years, after which time the City would receive 100% of the rcvenucs
generated from the BART-related developmcnt. It is important to note that the County of Alameda was
not a party to the M.O.U. in 2000. The BART Board approvcd a plan, in 2001, to construct the West
DublinlPlcasanton BART Station and the joint development of a 17-aere transit village that would include
a mix of residential, officc and hotel uses, as well as BART parking facilities, on BART-owned properties
in Dublin and Pleasanton.
Due to a number of economic factors outside of the control of both the cities of Dublin and Pleasanton
and BART, the West Dublin BART Station was stalled for several years as Ampelon Development
searched for investment partners 10 complete the private development. During the intcrvcning period,
Ampelon Development worked with BART and City Staff on both the private and public development at
the station. With regards to the private development, the Dublin City Council approved, on March 2,
2004, the West Dublin BART Specific Plan Amendment, Plarmed Development Rezoning, Stage I
Development Plan and an Inclusionary Zoning Waiver for a project including 210 apartments, 150-room
hotel, and a 7,500 square feet comm.ercial pad on approximately 7.26 acres at 6600 Golden Gate Drivc,
adjacent to thc proposed West Dublin BART Station. At this time, it is anticipated that the privatc
development in Pleasanton will be a 170,000 s.f. office building.
Proiect Dcsign:
Over the past several years, Ampelon Dcvclopment has also worked closely with BART Staff on the
public development, which includes the construction of a BART Station platform in the median of
Interstate 580, Pedestrian Bridges connecting the Station and parking garages, as well as parking garages
in both Dublin and Pleasanton. The BART garage in Dublin will be a 5-level garage accommodating
approximately 720 cars as well as an inter-modal (bus) facility. Thc BART garage in Pleasanton will be a
4-story parking garagc accommodating approximately 400 cars. Mayor Lockhart and Council Member
Hildenbrand, as members of the Pleasanton City Liaison committee, received a presentation from
Ampelon Dcvelopment and BART on the station and parking garage designs on Thursday, August 25,
2005. The City Council will receive a full presentation from AmpelonlBART on the station design(s)
and parking garage at a September 19, 2005 joint meeting with the Pleasanton City Council.
Proiect Funding:
In 2001, it was cstimated that the construction of the public improvements for the West Dublin BART
Station (Station, Pedestrian Bridges and Garages) would cost approximately $60.5 million. Over the past
four years, several factors (mainly steel and concrete costs) have combined to drive the cost to
approximately $72 million. Those costs are broken down as follows:
Proieet Costs:
Station and Garage
Other Development Costs
Contingency
$63,394,000
$ 1,670,000
$ 6,436,000
2DòY
Total Budget:
$71,500,000
Ofthat amount, BART is considering thc tollowing revenues sources:
Prepaid Ground Leases - Privatc Dcvclopmcnt:
Bond Proceeds:
Grant Funds:
$15.5 million
$42.0 minion
$14.0 million
Of the grant funds, BART has received commitments for $14 minion from local sources ($4 million from
the Tn-Valley Transportation Council - TVTC and $10 million from Alameda County Congestion
Management Authority" ACCMA).
At this time, BART is proposing that a new financial arrangcment be considered between BART and the
cities of Dublin and Pleasanton and Alameda County. The original M.O.U. in 2000 called for the cities
onlv to cOlmnit future tax revenues for a period of 12 to 17 years. With this proposal, BART is asking thc
cities as well as the Countv of Alameda to make up-front financial contributions of $ 8 million that would
be placed into a rcscrve account for the deht service on the bonds only and would only be used to help
fund any shortfall in cash flow after dcbt service and station operations costs. The contributions would be
as follows: Dublin - $2.5 million, PleasantOll - $1 million, and County of Alameda - $4.5 million. The
up-front contributions from the cities of Dublin and Pleasanton are approximately equivalent to the
property and sales tax revenues that would be receivcd from future development on the West Dublin
BART Station properties and the up-front contribution from the County of Alameda would be
approximately equivalent to the property tax revenues received from development on the West Dublin
BART Station properties as well as the residential developmcnt on Area C of the East DublinIPleasanton
BART Station. The City of Dliblin's amount was calculated by estimating the cumnJative vaJue of the
revenues (sa1es and property taxes) generated from the Dublin site through 2024 - approximately $4.010
million, and discounting it to a Present Value (2005 dollars) - approximately $2.636 million.
BART has asked that each City and the County commit 50% of the funds at the issuance of bonds
(projected November 2005) and that 50% bc committed in 2008. BART's financial projection ineludcs
the return of any unused portion of the cash contribution at the end of the fifth year of Revenue
Operations, which is estimated to be in 2013. In this proposed scenario, the City would rctain all of the
General Fund revenues (property, sales, and transient occupancy taxes) generated from the Dublin parcel
once the private developer completes its agreement with BART.
It is Staff's intent to recommend the usc of the City's Tri-Valley Transportation Fee revenues (20% sct-
aside) as the funding source for the City's proposed financial obligation of $2.5 million. Staff estimates
that there is currently almost $1.5 million in the Tri-VaHey Transportation Fee fund (to cover the $1.25
million obligation for 2005) and it is projected that the remaining City obligation ($1.25 million in 2008)
would be available at that time.
It is BART/Ampelon's desire that the City Councils of Dublin and Pleasanton, as well as the County
Board of Supervisors, approve the proposed financial arrangcment within the next 30-60 days, as they are
attempting to issue bonds in November 2005. BART is currently preparing an agreemcnt, which will be
presented to the City Council at a future meeting.
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Staff believes that the proposcd financial arrangement is more favorable than the arrangement approvcd in
the 2000 Memorandum of Understanding. Staff will return to the City Council at a future date for
consideration ofthe proposed financial agreement.
RECOMMENDATION:
Receive the report.
G:\Chris\BART 2005\FORM-agenda !jtatement W!:.!ìt Dublin project 2005.doc
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CITY CLERK
File # [J[G2J[Q]Øl-l~IQJ
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,AGENDASTATEMENT .,
CITY COUNCIL MEETING DATE:'June 6/2000'-
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SUBJECT: Approval of F:iIÌanciaI Participation Meworat1dmn of Understanding
(M.O.V.) with the San Francisco Bay Area Rapid Transit District
(BAR!) and the City of Pleasanton for the proposed West Dublin I
Pleasanton BART Station
Report Prepared by: ChrisiopherLFoss.
, EconQmic Development Director
ATTACHMENTS: ,1. Memorandum ofUnderstancling (M.O.u.)
2. . Resolution
RECOMMENDATION: .0/' L Receive staffpresentation
" 2. Adopt resolution .
FINANCIAL STATEMENT: .... This agreement requires 1he City of Dublin to pledge all of the sales,
~. propeÌiy,'and tœJ.1SienfoccuPaU.cYt!1Xes genèrated sPecifically by the proposed BÁRTdeveloprnent fora
penoa of1irii~ ~ót,tõ',exceed 17yeàrs:Thisagreéni~nt Will reqt.úrti no GeneraI Fririd Subsidy.
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DESCRIPTION:',' .' . '.,. 'The cities of Dublin and - Pleasanton have been working with
representatives ofthé Sari' Francisco Bay Area Rapid TranSit District (BAR}) for seVeral years on the
development of a West Dublin I PleaslUrton BART station. Those efforts took a step forward in early
1999 when BART entered into an agreement with Jones Lang LaSalle (LaSalle) for the development of a
nrlx:êd-use project and a proposed BART station at Golden Gate Avenue and 1-580. . The BART Board, in
November of 1999, authorized BART staff to complete negoriationswith LaSalle and to negotiate
fin!!ncial participation agreements with the cities of Dublin and Plea.sa.nton to help finance the BART
station project. '
T.o briefly recap, the $100 million West Dublin I PleaslUrton BART station project includes a public and
private component. The public cornponent, .",.¡th its cost of $40 million, ""'¡ll include a new BART station
in 1he 1·580 median, two parking garages (Dublin - 600 spaces, and Pleasanton - 400 spaces), an
intmDodal facility and pedestrian walkways ftom the station to iitherside of 1-580. The private
component, at a cost of $60 million. coIisists of approximately 160 market-rate residential units and a
240-room hotel in Dublin, and a 171,000 square foot office building in Pleasanton.
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COPJES TO:
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Attachment 1
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~M9~~gF;,,~E~TANDING: The proposed Memorandum of Understanding (M.O.V.)
· ";"(Attaclímënti) provides for a. financial coIIJIIlitment of the parties (BART, Dublin, and Pleasanton) to
finance .the West Dublin IPleasanton. I3ART::~ti,on.:' 1lI¢ .pµblic· portion of the project (BART station,'
parkingstIuctl1I:es, ang,J~~4~~"!R-;~s) -wi~lþ!,,_ p~~,dþy.a $4º,'¡rrillion"þc:lnd issue through the '-
Association of Bay Alea Q.overnments (ABAG). Upon construction. of the parking structure. in Dublin,
the' City.of Dublin will lease the parking structure ftom BART for a rent equal to the city'.s revenues
(sales, property, and trarisièntoecupancy taxes) from the development (i.e. LaSalle) projeet TheCity of
DubliÌ1 will.also eî1icr)ntoanopéïaiii1g'agreement with BART under which BART will retain the
op~tingres¡:ipnsibili~es- and liabilities for the Dublin parking garage.
· It is important to note that, if the revenues created ftomthedevelopment project are insuffieiéntin any
year to meet the required debt service, BART's Gènera1 Fund is obligated to pay the entire debt service.
Tbisagreement 'Will reqwre no addiµonw city' resources outside of the revenues generated specifically
ftomthe developmentprojeet.
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· The proposed M.O.U. also statèsthat as soon as BART :rev~ues(farebox, fare surcharges; ~d other
sources identified by BART} are sufficient for two (2) consecutive Years to finance the bond issue's debt
service, the lease and operating itgreemen1s ..With theCity of Dublin will be termirnIted. This termination
. shall not occur prior to the twelfth anniversary of the issuance of the bonds. _ The pal:Icing leases require
the City of Dublinto pay all.project revenues. toBART untilti:ie earlier of the seventeenth imniversary of
the issuan(,\eofthe bonds or until the tern:ùnationof the lease and oPerating agreements as defined above. .
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.' 'fh,l\i"I'fOPO~~.,¥:Ó7tI"iilsoreiju¥~ B:^R1~:~~)n,rx. ~~:rec#vedft0Jl1Citrrev%lluesand BART
teven~es~at8'ceed . d.ep!s.eryiœ.mi3IlY;, .Ye.a:rto~aSt:,. o.';retÌre· principal: payments ~. the bonds ""
restùtingm areductionm annual debt SC1'VICC; . In addition, any excess ,revenues available upon
..·ieun. . ·¡rAt¡OI1.IJ:f tb~parking:l~and oþeI:at;ing agreI IDent w,ill bé divided on a pro"rata,basis among. the
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. .tbri:i,ågencles CBNtT, DiWlin,:ånd. PleaSantoD.) based on the aggregate¡!D)ountof the contribution over
th~term6ftheagi-eement. .... .... . . ...
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App1'. ..' ....!J.v......ålof. the-M.O. .U. . dO..'és.not commi1 the.···~City ofDub...linto.3pprovethe propo.. sedresiden.. !I.·aI. or.hotel
. . üiir....·...!SPro.. PO.' . . se.d.. in the. .LaS. aile project. LaS.'. åne will.procesŠ the private component tbrough the .standard .
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. The M.O.U. is the conceptual outline of the financing structure. The City Council would have to approve
the lease and 0PeJ:liting agreement at a later date.
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ANÂLVSIS:. . . . The West Dublin IPleas.¡mton BARTstation will serve to revitalize
a portion of the City's central business district thrOugh the indUsion of residential and hotel activity. This
pmjeCtaIso serves as one òf the focai points of the City's West Dublin BART Sta1ionspecifie plAnnil1g
effort, and staff expects the project to relieve. congestion at the. East Dublin IPleasanton BART station,
create new BART ridership, as we11.as sthnulatenew development opportunities around the station.
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Staff recognizes that the contribution of the entire amount of the sales, property,and transient occupancy
taxes generated from the project area.for a period ofnotless than 12 years and not more. than 17 years will ,.-'
'be significant·' Staff alsorec()gnizes thaíthe ability to contributethüse taxes. comes solely from the ""
proposed priyate development as the =nt property. owner (BART) currently pays no taxes. on the land.
The City of Dublin, under the proposed M.O.U., will capture all of those project revenues upon
tern:'ìn"tiori of the parking lease and op~ting a.greement
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~COMMENDATION:. it isstaff's .rttO=c:ndation that the: City-Council adopt the proposed
resolution authorizing the Mayorto sign the Financial Participation M,O.U,:wîth the San Francisco Bay
Axea Rapid Transit j)istrict (BAR1) and· the City of Pleasanton for the .West publin / Pleasanton BART
StatÎ?n. .. . .
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MEMORÀNDUM OF UNDERSTANDING. .
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.. . This Memòraridum· ofUnderstanding ainong the· SanF:iåhêiSèôBayArea Rapid
Transit District (''BART''), the City ofDublin ("Dublin") and the CitY òfPleåsånton
("Pleasant.on") contains the commitment of the parties hereto to the financing of the BART
station at West DublinlPleasanton. .
FACTS:
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BART has entered into negotiations with Jones Lang LaSalle Project and
Development Management (''LaSalle'') to develop property atOímd the approved BART station
at West DublinlPleasanton (the "Station"). As part of the joint development, LaSalle, on behalf
of;E~ART, will cause construction of the Station to be completed in the 1-580 highway med1W1,
connected by pedestrian bridges to two parkÎIlg garages to be constructed, one located in
Pleasanton and one located in Dublin (collectively the parkÎIlg garages, pedestrian bridges and
Station are referred to herein as, the "Station Project''), and LaSalle will develop other property
adjacent to the parking garages for co=ercial uses, whîch may include apartment units, a hotel
and/or office facilities in Dublin and an office and retail facility in Pleasanton (the "Development
Project"). BAR:. T curren. d. y owns.. the land O.n V'/:.hich the Developm..·· éritP.fO. dect. an. d the parking
garages will be co:i1structed and has or will obtain with CalTraJisan ågree¡UentOI".agreements to
develop the Station m the freeway right-of-way~ As part of its éontÌ:ibutiontothe jOmt
developnient.' it is eonr.emplated that LaSalle ·will. prepay the~ ¡?;¡;9úiid.le~ rental for the
DevelopmëntProjecUTo further niake :fu:imiciÐ.g of the St.atiòri:PiYj~~ feasible; it is proposed
that Diiblin.i.m:d Ple3siini:on (the "Cities")contributerevenüès generate<ì:&Om the Development
Pmject;con:sisting solely of City property taxes, City sa1estaxcS' and City transient occupancy
fees (the.''CityProjectReverlues"). BART is planning on usfug some combination offare box
revenue generated from the StatÎ.on, :fare surcharges and parking chargës ffom the parking
garages, lI1ld/or othersourc6ssubsequentlyidentified (the "BART Reveuues'), as well as the
prepaid grourid lease to complete the finimcing paCkage. By entCrlntdirto thisMemonmdum of
Understanding, the Cities are m"k.ÎDg no commitment to approve the Dev:elopment Project.
PROPOSED FINANCING STRUCTURE:
In order to raise the necess!l1'Y funds to construct the Station Project, a lease
:financing with the Association of Bay Area Governments ("ABAG''), a joint powers authority, is
proposed. To obtain an issuer for the proposed debt, BART will join ABAG as an associate
member. ABAG will utilize the joint powers authority law to issue bonds to raise the necessary
funds (above the LaSalle prepmd rent) to build the Station Project. . BART will lease to
Pleasanton the land on which the proposed parkÎIlg garage in Pleasanton is to beconstrucœd (the
"Pleasantün Lease') and Pleasanton will transfer its leasehold estate (but.not the obligation to
pay rent) to A.BAG.. BART will lease the land underlying the proposed gaIagein Dublin and
assign BART's rights with respect to the Station location to ABAG. The Station Project will be
constructed with the bond proceeds and leased back by ABAG to BART. As rental payment for
the leaseback, BART will pay rent sufficient to pay principal of and interest on the bonds.
BART will in turn sublease the Dublin parking garage to Dublin (the "Dublin Lease'). As
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consideration for the Pleasanton Lease and the Dublin Lease, the Cities will respectively pay
BART rent equal to the~ City Project Reve:inies. Projeêtïonsanticipáte that BART Revenues plus
the City Project Revenues will be sufficient to cover the debt service on the bonds without
requiring contribµtionÛ(lm BART's general fund. However.ifrevenues are insufficient in any
year, BART willbeobJigåted to páy the debt s~ce on the bonds from its general fund.
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. The lease struct:uie assumes that ABAG will enter into a trust agreement with a
trustee pursuant to which the b.onds will be issued. In addition, ABAG will enter into a site ¡ease
from BART and a leaseback to BART, and BART will enter into the Pleasanton Lease and the
Dublin Lease and an operating agreement between Dublin and BART, pursuant to whieb
operating agreement BART will retain operating responsibilities and liability for the Dublin
parking garage. ABAG will pledge to the trustec under the trust agreement the rental payments
received from BART for the leaseback of the Project.
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AGREEMENT:
Dublin, PleasantOJl and BART hereby agree to cooperate in añnancing of the
Station Project. BART agrees, putsuantto the proposed fimulcing structure and subject to the
direction of the BART Board fOlloWing appropriate environmental review under the California
£r¡vironin.ental Quality Act (public Resources Cöde § 21000·et. seq.), to cause the Station
Projecttobe built fi:om the proceedS of the ABAGBOJlds. BART pledges. to üSethe:BART ..
Revenues, as determined bYI3ART ~g~faith, to pay debt .~~OOOD. the Bonds. .BART alsO
agrees in the eventíhat such BART Revenlieure sufficient onthcir q;wn for a perî04 of two
co:nse~y~~# tc> pai.f?rªe:~seMt:rpn~.!>1lt9tJtni¡;,;,g ~tan~n ProjeCi bonds ~ BART
and the CIties willtenninatetheirrespectiyeleasesand the operating agreement; proVIded that
such temiliiation Shiül not ocCur prior futheiWéIfth IInniVei:sary of the issuance of the bonds.
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. . DubIili .~. to- enter into a lease With BART'to lease the parking garage located
in Dublin: frÖm BART and to·pay as reritaJ. for such lease all ad valorem property tax revenues
received by DubliDwith respect to the Development Proper1:y';any sales tax revenues reccived by
Dubliri in 'cOnneètion with sales origjn~ti"g m the Development Property and any transient
occupancy taX reVeÌ:mes d6rived from any hotel öperanonson the DeVelopment Project and
received by Dublin. All such revenues shaII be paid to BART pursuant to the terms of the
Dublin Lease until the earlier of the seventeenth anniversary of the issuance of the bonds or the
tennination of the Dublin Lease by BART and Dublin pursuant to the prior paragraph.
Pleasanton agrees t.o enter into a lease with BART to lease BART ¡and located in
Pleami.nton and to pay as·rental for sUch lease all ad valorem property tax revenues received by
Pleasanton with respect to the Development Property and sales tax revenues received by
Pleasanton in connection with sales originating in the Development Property and received by
Pleasanton. . All such revenue shaII be paid to BART pursuant to the terms of the Pleasanton
Lease un1i1 the earlier of the seventeenth anniversary of the issuance oftbe bonds or the
t""';;n~tion ofthePleasanton Lease by BART and Pleasanton in acCordance with the first
paragraph under this heading. .
Dublin and BART agree to enter into an operating agreement or agreements
pursuant to which BART will assuwe responsibility and liability for operating and maintaining ..
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the Dul;>lîn parking garage.· BART. will have all respOnsibilitY änd liability for operating and
maintainingthe pB!'kÏ1!ggamge located in Pleasantonunderthe leaseback:IìUm ABAG.'
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BARTagXëes that any amounts received by BART fi'om the City Revenues and
BART ReVenues that eXCeed debt serVice in any year will be used to defease or retire principal
payments 011 the, bonds resuJtìngin a reduction in annual debt service. Any excess City
Revenues and BART,Revenues available upon thë date of termination of the Dublin Lease and
the Plc:asant.on Lease (the "City Leases") and not used to defease or retire bonds on or prior to
the date of termination shall be divided pro rata among BART, Dublin and Pleasanton based on
the respective aggreg~te amounts that each such agency contributed to the payment of debt
service on the ponds. Prior to termination of the City Leases, on an annual basis BART shall
provide t.o the Cities acashf10w ,statement setting forth for the prior fiscal year the BART
Revenues. the City Project Revenues, the debt service paid and principal amount of Bonds
outstanding and any accumulated ddicit allocable t.o the financing.
For the purposes of this MeIIlorandum it is assumed that the Bonds will be fixed
rate bonds with a thirty-year level amortization. It is understood that the interest rates and debt
service and final structure of the bond issue will be determined by BART at the time the Bonds
are sold. If BART notifies the Cities that it is unable to conclude an acceptable agreement with
LaS2J.le, orcompletc appropriateenvironmcntalleview or determines that the financing is not
feasible for any reason, the Bonds will not be issued and this Memorandum of Understanding
will be null and void.
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IN WITNESS WHEREOF, the parties hereto have caused this agreement to be
executed by their authorized representatives as of this day of . 2000.
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SAN FRANOSCO BAY AREA RAPID TRANSIT
DISTRICT
By:
Title: .
CITY OF DUBLIN
By:
Title:
CITY OF PLEASANTON
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Title:
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RESOLUTION NO. . ~ 2000
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A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
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APPROVING A MEMORANDUM OF UNDERSTANDING BETWEEN'
THE CITY OF DUBLIN AND THE SAN FRANCISCO BAY AREA
RAPID TRANSIT DISTRICT (BART) REGARDING FINANCING OF THE
WEST DUBLIN I PLEASANTON BART STATION
WHEREAS, The San Francisco Bay Area Rapid Transit District (BART), in partnership with
Jones Lang LaSalle, proposes to develop property around the approved BART Station at West Dublin I
Pleasantou;
WHEREAS, the mixed-used development i~ proposed to inclUde hotel and resideutial units in
Dublin and an office building in Pleasanton, as well as a BART station and attendant public parking
structures in the respective cities;
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WHEREAS, the City of Dublin agrees to cooperate in the funding of the Statiou project and the
FWancial Participation Memorandum of Underst<mding (M.O.v.) is required to make, the project
financing feasible. The City of Dublin agrees to enter into a lease with BART to lease the parking garage
located in Dublin wm BART and will require the City of Dublin to commit the revenues generated from
the Development project {consisting solely of City property taxes, City sales taxes, and City transient
m:cupancy taxes) to lease the parking Structure.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Dublin approves
the attached Memorandum of Understanding and authorizes and directs the Mayor to sign the
Memorandum of Understanding.
PASSED, APPROVED AND ADOPTED tbis_ day of
,2000.
AYES:.
NOES:
ABSENT:
ABSTAIN:
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Mayor
ATTEST:
City Clerk
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APPROVAL OF fINANCIAL PARTICIPATION
MEMORANDUM or UNDERSTANDING (MOU) WITH THE
SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT (BART)
AND THE CITY OF PLEASANTON FOR THE PROPOSED
WEST DUBLlN/PLEASANTON BART STATION
10:26 p.m. 7.1 (600~40)
Economic Development Director Chris Foss presented the Staff Report and advised that
the West Dublin/Pleasanton BART Station will serve to revitalize a portion ofthe City's
central business district through the indusion of residential and hotel activity. This
project also serves as one of the focal points of the City's West Dublin BART Station
specific planning effort, and Staff expects the project to relieve congestion at the East
Dublin/Pleasanton BART Station, create new BART ridership, as well as stimulate new
development opportunities around the station.
This proposed MOU provides for a financial commitment from the City of Dublin to
finance the West Dublin/Pleasanton BART Station. It proposes that the City of Dublin
will lease a 600~space parking garage in Dublin in exchange for rent equivalent to the
tax receipts (sales, property, and transient occupancy) generated from the)ones Lang
laSalle private development over a specified length of time (minimum 12 years ~
maximum 17 years). This action does not commit the City of Dublin to approve the
proposed residential or hotel units on the project. The developer will process the private
component through the standard planning process of the City of Dublin.
Vice Mayor Lockhart questioned the issue of BART retaining liability for the parking
garage and asked how long: they will do this. Is it forever?
Mr. Ambrose stated the agreement will be as long as we are a party to the financing. It
will revert then entirely back to BART and they will have total responsibility for operation
of the garage.
Peter Snyder, BART Director, stated it has taken a long 2 ¥2 years for something you
would think should come together very rapidly. They are in the home stretch. By early
next year, we should see some dirt flying in that area. He looks forward to seeing this
project culminate. They are working full speed ahead on getting all the environmental
stuff done.
On motion of Cm. Zika, seconded by Cm. McCormick, and by unanimous vote, the
Council adopted
CITY COUNCIL MINUTES
VOLUME 19
REGULAR MEETING
June 6, 2000
PAGE 237
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RESOLUTION NO. 92 - 00
APPROVING A MEMORANDUM OF UNDERSTANDING
BETWEEN THE CITY OF DUBLIN AND THE
SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT (BART)
REGARDING FINANCING OF THE
WEST DUBLlN/PLEASANTON BART STATION
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REVIEW OF ROUGH CUT OF PROMOTIONAl. MARKETING VIDEO
10:31 p.m. 7.2 (150-35)
Economic Development Director Chris Foss presented the Staff Report and advised that
the City Council identified the preparation of a Promotional Marketing Video as a high
priority for FY 1999-2000. Staff has worked with Goal Line Productions to produce a
lO-minute Video that promotes Dublin's quality of life, strategic location, and business-
friendly atmosphere.
Mr. Foss advised that Staff is now requesting that the Council provide comments on the
rough cut and direct Staff to complete the preparation of the video.
Vice Mayor Lockhart stated she felt one of the things that comes across as a major
message to businesses is that Dublin is a good community to come into. She asked if
there is any way to include the tennis courts and skate park at Emerald Park and maybe
get some skateboarders on film, which would speak to the newer and up-to-da.te facilities
we can offer.
Mr. Foss stated he would check into this.
Cm. Zika stated he felt it starts out like gangbusteci but seems to end a little weak. It gets
slow in the middle. We have too much of just looking at people talking. Maybe they
could do cutaway shots with pictures. He also suggested they cut the reference to Castro
Valley.
Cm. Howard suggested when they talk about schools, that they put in a picture.
Mayor Houston stated the Video is structured in such a way that things can be updated to
make the life of it more than a couple of months. The music in the beginning is great
CITY COUNCIL MINUTES
VOLUME 19
REGULAR MEETING
June 6, 2000
PAGE 238