Alistair,
Sadly, you had to leave the meeting a little too early to here how the town
could obtain North 40 funding.
Los Gatos needs to locally raise the money to build the projects the
residents desire for the North 40.
This is because the things the residents want cost more than any developer
can afford to provide.
For example, the residents are clear that they want elder care facilities,
soccer fields, live theater, possibly a magnet school or hotel, a regional
transit center and now a childrens hospital. And it is clear the residents
want mixed use housing over commercial shops like Main Street.
The residents are also clear what they do not want: Big boxes , and
developments which are indistinguishable from Cabrillo, Camarillo, or
Calabassas. These last three have retail centers which look EXACTLY like
our "new" Old Town. No wants anymore development which does not look like
Los Gatos.
And residents do not wish valuable land be taken up with surface parking.
The parking lot of the Calabassas Commons takes up the majority of the
development, so the limited useful space means higher rents tossing out
local merchants in favor of national chains.
Clearly there has to be a better way to develop and fund the North 40 and
the answer is to do it our selves.
1. As I alluded to in my web site, Redevelopment funds are readily
available for a town to purchase land and then pay it off with ALL the
additional property tax received over decades. This is a much longer
repayment window than most any developer is willing to sustain.
This does NOT mean throwing the Yuki's off their land with Eminent Domain.
It does mean allowing the NON-YUKI owners to cash out now and preventing
the northern gateway of our town becoming a gas station. Besides the
government has already stolen Yuki land once this century (1942) and that
was once too much.
2. There are a host of affordable housing funding programs available
especially when housing is tied to transit. This is one way that the
Cilker family was able to keep and 99 year lease their property for
development at the Cheynoworth site. Such a long term lease program may
be more attractive when the Yuki family is finally ready to decide in the
future.
3. Silicon valley traffic is reaching a crisis and Los Gatos sits astride
the funnel for 25% of the crunch! There are various state and federal
agencies searching for practical ways to spend money to help solve this
problem. A west valley regional transit hub on the (non Yuki) northern end
of the property is a viable solution!
4. Some projects will generate revenues. The proposed childrens hospital
will be capable of raising much of its own funding. Placing such a center
at the corner of Samaritan Drive and Los Gatos Boulevard begins the process
of developing the site in a self sustaining way. Like the transit center
just behind it, it too would be begun on Non Yuki land with additional
office support space a possible lease agreement away.
I was told by Tom Yuki and Milt Mintz to draw up a plan. It's just about
ready for a high profile architect like a Michael Freedman to lay out. We
do not need any more plans from consultants with offices in Irvine and Las
Vegas.
We must update the General plan to allow mixed use housing, require
underground parking, and soccer fields!
And then lets form a committee to explore financing, fund a architects plan
of our design, and give Los Gatos residents what they want!
Mark
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