HomeMy WebLinkAbout0537.092I
I
I
I
I
December 3, 1992
HONORABLE CITY OOu~CIL
Palo Alto, California
-
UPDATE 07 STANFORD LEAS!:; ______ po~_ EL CAMINO PARR. MA~ ___ ART:RUR PARK
R!STAtiR.ANT. MlERICAN RED CROSS" SANTA CLARA COUNTY TRANSIT ANQ
BOLIO~LINN
Members of the Council:
Report ill Brief
This is an informational report and no Council acti~n is required.
The intent of this report is to update Council with regard to the
economic outlook and current negotiations regarding the lease with
Stanford University for El Camino Park an~ related properties.
Background
Two years ago l in response to a Council request and concern that
the El Camino Pd.rk rental seellled excessive, staff prepared
CMR:271:0 (attached). In that report, staff presented annual
rental dat2 on each of the separate subleas~s ~hich comprise the
Stanford l~ase for the El C~mino parcelj predicted futUre payments
to Stanford; and made several recommendatior.s on negotiations \riIi th
stanford to reduce or eliminate the rent on the park portion of the
lease. Council directed ~taff to proceed to negotiate. IJith
stanford to reduce or eliminate the rent .
.§tatus of 'Beqotiatio_~~_~Ath st&nford~~rsj,.--';y
Attempts by staff to negotiate resulted in no change of position
until a few months ago ~hen the City and Stanford began exploring
different concepts 'it..-ith regard to linking the University Avenue
shopping area ... ir_n the Stanford Shopping Center. (A previous
CMR:537:92
---." .... -----
/.'
Q
infol~ation staff report. CMR:490:92. Status Report on An Ad Hoc
City-Stanford CvmmittlO!e Investigating Planning Issues Focusin3' on
"the Area Between Downtown and: the Stanford sr.opping Center [The
·Drea~ Team'"] dated Novel"ber 5, 19~2, olltlined the na't.ure of this
joint exploratory effort.}
In CMR:271:0 statf presented to Council a pessimistic scenario for
the future El Camino Par.'k. rent.al, if it continued to rise at the
same pace it did during the 1980's. Rental for t~e park site is
basp-d on an appraisal of the property's market value for its
highest and best use~ The appraisal is performed every five years,
and the rental is adjusted accordingly. In fiscal year 1989-90
w~en the last re-appraisal was done, the rent {Qr the El Camino
Park lease increased 34 percent. Staff projected at that time that
the City could be paying Stanford over $1. 5 million annually by the
year 2013 for the 12.2 acres of park and open space.
During the last two years, ho~ever, the Consumer Price Index (CPI)
has increased 4.7 percent and 3.7 percent, respectively. Wnile th~
re-appraisal will be bas~d on the market value of the property at
its highest and ~est use, the CP! can be considered a benchroark of
how property values may increase at the end of the upcominq 5 year
period~ Given the current economic situation and the prediction of
a slow economic recovery. the large increases in lan~ values of the
1980's appear unlikely to recur in the 1990's. Although the rent
paid. to Stanford for these t .. "O areas may not increase at the rate
predicted in CMR:271:0. staff still feels strongly that the level
of the annual rent charged by Stanford ($340,000 last year) is
excessive for 12.2 acres of park and open space~
lr. the May 1990 staff report, staff provided a revenue analysis of
for the various subleases of the El Camine !;ite, including the
revenue collected and payments made to Stanford University. The
attached table (Exhibit A) provides an update of that analysis,
with information for the past J fiscal years. It is i~portant to
point out that, while the earlier staff report sho~ed totals for
revenue collected and payments made to stanford, there is no record
of Council ever having intended that revenue trom tt'.e various
subleases should be used to somehow "offset" the rent for EI Camino
Park.
FutUre Negotiations
There is the possibi I i ty that the Dream Team could generate
proposals for the El Camino area for consideration in the compre
hensive Plan Update. Con a long-term basis, lease area ma~{
significantly ct.ange, and that "Would lead to a renegotiated lease.
Staff plans to continue negotiations .'ith Stanford in an effort to
reduce or eliminate the rent for EI camino Park and the surrounding
open space. St.aff ..... ill return to Counci 1 '.6th responses and
updates as negotiations proceed.
CI!R:537:92
Respectfully sUbrnitte~,
$d-m$;~
WrLLIAM II. FF2LMAN
Rea~ Property Manager
~~, rtL0u..f1
-EH~{ ~iSON V
Director of Financ~
~~
In~erirn city Manager
~c: Planning Commission
Stanford University
City of Henlo ~ark
Red Cross
Holiday Inn
Santa Clara Transportation Agency
Joint Powers Board
City Parks and Recreation
Hac Arthur Park Restaurant
City Planninq Department
Dream Team participants
Related Staff Reports: CMR:271:Q
C¥:..R: 490: 92
CMR:537:92 3
.~. Co' ,.-
'" ... -.. -~
1 •
a
I
I i
...
•
: .f
• • , .
• • · , 1/ : )
l
J •
; ~,
• •
"', ,'~ ....
May 3, 1990
HONORABLE CITY COUNCIL
Palo Alto, California
. -'.
STIoIIFORD lEASElEl WINO PARK. MC ARTHUR PARK RESTAURIoIIT. RED CROSS. SA!!TA CLARA
COUNTY TRAMS IT
Attention: Finance and Public ~orks C~mm1ttee
~embers of the Council:
As a part of the 1989-90 ~dget deliberation$~ Council expressed concern that
the est "ma.te of the new [1 Camino Park rel'\tal ~ost) Wh1Cl'\ is based upon the
apprahed Iftarket val ue of the property. seemed exc!ssive, COIJncil directed staff
to return prior to any payment of an increased rental amOlJnt. Tne purpose of
this report is to present to Council information related to El Camino Park and
recommend several alternative directions staff could take in 1ts negotiat'ons
to reduce or eliminate the rent paid to Stanford Cniversity for the Tease \If
16.33 acres, whieh indudes [1 Camino ParK, MacArthur Park: Restaurant, the Pal{l
Alto Red Cro" and the S.P. DeDot as sho~ or. Exhibit A.
BaCKground
On June 10, 1915, tne City of Palo Alto ani Stanford University entered into a
9S-year lease, terminating June 30~ 2D13. under the terms of which Palo Alto
leased approximately 25.5 acres of land lying between the Southern Pacific
Railroad right of ~ay on the west and £1 Camino Rea1 on the east. T~e purpose
of the lease · .. as to prov"jde the Cit)' with space for a Munic.ipal Sen'lees Center
and a park. Under the terms of tr.e original lease, th~ City paid rent equal to
4 perce~t ~f the assessed valuation of the leased area. ihe City also paid all
property taxes. One unusual aspect of the agreement was the 1 ar..k of a
termination c.lause: both parties are obligated for the full term of the lease.
Over the 74-year period Since 1915. the: actual lease area has changed. First
CMR:271 :0
•
t
i
r
I.
f c(.
t~ r" .
I
',; .. , .. ,
:,>,~ .
. :i~-:>-·
,-
'1 ~r·
,..-..,
0 -
th~ area was reduced to 20.36 acres to allow for the Univrrsity A~enue underpa~s
and the El Camino Real road widenin9; the~ in 1981 the area was i~creas~d to its
present 23.3 acres when the Southern Pacific Depot prope~ty was ad~ed.
The lea~i!d area has been and is being used for i! vari.ety of purposes .. 4ttacl,m~nt
A outlines eact'l of the curref'1,t uses and the area occ .. ~pied. The 16.33 acres
between Unhersity Avenue and San Frar,cisquito Creek is now occupied by or
utilized by MacArthur Park Restaurant, the Palo Alto C~apter of the Am~~;can Red
Cross, Santa Clara County Transit District, a tieten Hetchy Water System facility,
the Olympk Redwood Gro't'e, a portion of the Palo AHo Avenue e):tension and El
Camino Parl. In 1965, by a vote of the City residents, all of the leased site
except the Holiday Inn portion and the Depot ~'as dedicated as park. land. In
order to und~rstand the options the City may have in dealing with the rental
increase for n Caoino Park. it is necessary to re"few the lease agreement in
light of the amendments and sublease arrangements~ A. are detailed €.Ccount of
each of the master lease amendments follows.
f!i1!ing Subleases and Master lease Madi1Jca~ions
Master Lease Amendment NO.1: Holiday Inn
The Municipal Services Corporation Yard ~nd Animal Shelter were re10c~ted from
where the Hol iday Inn now star.ds to thei r present loca.t ion by 1971, and the lease
was ~nded for the first time, isolating tne 6.61 acre parcel Holiday Inn site
from the original hase. The rental rate, pa'd to Stanford by the Clty, was
established as 4 percent of tne assessed value of the land or 50 percent of the
total percentage rent received from the Holiday Inn SUblease through June 30,
2013. Ttle term of the Holiday Inn portion of the lease with Stanford was
extended eight years to terminate on June 30, 2021. Rental tJ Stanford for tn!
extended eight-year period is lOa percent of the total percentage rent received
from Holiday Inn. Rental recei'ed from Holiday Inn for the 1989·69 fiscal yea,·
was S311,3l9. Rental paid to Stanford for the same period was U55,670. Holiday
Inn recently received permission to expand the number of its hotel rooms, and
reyenue is expected to increase when the n~w construction is cornp1eted.
Master Lease Amendment No, 2: Williamson Act Provisions
On February 26, 1913, the lease was amended for th! sec~nd time to reduce the
taxes paid by the City by includir,g !1.85 acres of the 1eased area located north
of University Avenue into a ~tate-designated Williamson Land Conser~ation Act
Pruerve. Tne Preserve 15 an ongoing ten-year agreement: as each year expires,
the agreement is automatically extf!nded one year. The agreement can be
termfnated in thrf!e ways: 1) 90-day notice prior to January 1 and a waiting
period of nine years during w~ich the property tax is increased to (urrent tax
le¥elsj 2) gO-day notice prior to January 1 and a pendlty fee of 12-1/2 percent
of the current market value ,approximate1y Sl,035,000); or 3) an eminent domain
action will immed;a~ely cancel the Preser¥e with no penalty fee.
CM~: 171: 0 1
,..
,
i
. j
'j
!
I
1-
o
Master lease Amendment No. 3: ~acArthur ParK and Red Cross Subleases
Ir. 1919, the first municipal1Y'~:;Hln$Ored cOIMlunity center w.c::s fstab~ished in a
Wor'~ War I military building mo .... ed to the leaH! site from Men10 Park's Camp
Fremont. The building ~as later leased to the Veteran's Council. After se¥eral
years of neglect, Bill Cox, a 10ta1 devel;)p~r. ,purchased thE' but1ding, preservec
tf1o! ed~rior and completely refurbished the interior, transforming it into the
now popular MacArtti\!T Park RestauTolnt. The remodel of the building i'lcluded a
room for various veter4ns' groups to continJJe their meetings. On Nov.:mber !l,
1916, the building was di!dicated 25 a California ~istorical Landmark. The
dedicating plaque states that the building is the ani.)' remaining California World
War I training camp sttucture, and that it is the first municip~lly-sponsored
community center in tne nat~on .
The ch~nge to restaurant use required the third amendment to the master leasE
with Stanfo·rd. In totarch of 1981, the Ccuncil executed an amendment tc th~ leas'!
that required the City to pay the ground rent and 50 percent of the profits from
the percentage rent sublease with MacArthJr Park. The MacArthur Park iease also
required voter approval to remove tile restaurant land from park dedication, and
Ute developer paid a penalty fee for relooving the subleased site frnm the state
des19nated Williamson Act Preserve. The rent rece1ved frern MacArthur Park by
the City from March 1988 to April 1989 was S97.012. The rent paid to Stanford
was S52.010.
In October 1946, the City entered into if. leas.e a.greement witt'l the Palo AHo
Cnapter of the Americ.an Red Cross. The ~ed Cross constructed its own building
O~ .55! acres of subleased land. ]n July 1976 th€ voters of Palo Alto approved
the removal of the Red Cross lease from park d!dication when the (;ty Attnrney
determined that the Red Cross use was in violation of the Cityls pir~ d~dication
ordinanc.e. The Red tr!>ss re+mburse-s the City for the r~nt and taxes attributable
to its portion of the leased area. The Red (r~ss portion of the rent for 1989-
90 was $14.220. The annual rent of 11.982. established in 19i1 for their .55
acre sybleased site has increased 617 perc~nt. If the rent continues to increase
as projected, the Red Cross will pay 572,000 for rent in the year 2010.
Master l::as~ Amendro-ent No. 04: Santa Cina CC\Jl'ot)' 1"~a.nsit Oistrict
In July 198], after severa' months of extended negotiations b!:!tween Stanford
University. Southern PacHic Transportation Agency, the Santa Clara County
Transit Oistrict tnd the City of Palo Alto, th~ City and Stanforrl entered. into
the fourth and last amendment to the master lease. Southern Pacific, by
agreement, reli~q~ished its interest in the University Avenue Depot to Stanford.
The 2.8 acre University Avenue Depot (land and improllements) wa:> added to tt1e
ori9inal master 1 ease ~ith Stanford. The City, in turn, $ub1eased the property
and improvements tn the Santa Clara County Transit DistriCt. The District has
since established a cOllllluter transfer facility and sub-sub1eases tt1e o1d baggage
room to the Coast GUard Auxiliary. The District~s pottion Df th!! rent paid to
Stanford for 1989·90 is S79.203.
CMR:27!:O 3
\
I
i
/
o o
[1 Camino BecreatfQna~
El Camino Recreational Pari:. consists of approximately i.S acre;; of the remaining
12.19 acres of leased property. The lighted baseball facility lS used primaril.y
by 42 adult teams. during the sltrrrner seasQ(l and 21 adult teal!lS durin';1 the fall
season Each sunwer season team pays $430 per seas::m and each fall season team
pays $220 p&r ~eason for use of the field. Three separat~ soccer 1eagues ~se
the soc.cer fields: Ha:nnony. Paio Alto, and the California youth Soccer
Assoc1.t1ons (CYSA). Tho H.rmony and Palo Alto leagues pay $10 per hour. CYSA
uses the field free of'tiargE. (Th02 Stanford Women's Softball team also mak.es
limited use of the fleld for practices without paying rent.) There ire no other
City facilities a~ailab'e for the baseball teams. The r~ntal r~ce'vtd for use
of the fields in 1988-89 was approximattly S25,880. 1n contrast? the annual
rental to Stanford for He same 7.S acres in 198~-90 was S192,a96.
Remaining Lea5gd Area
Tnt remaining 4.69 acres comprises the area of the Olympic GrOlle of Redwoods and
tne non-recreational parK portion including the g~olle of trees nortn of the Alma
extension. Th~ annual rental paid to stanford for this portion of the l~as! is
$120,625.
Revenue Analysis
The brea~down of income received and the rental paid to Stanford is summarized
as follows:
~.9.!
Holiday rnn 6.67
MacArthur Park 1.084
Restaurant
Red Cross .551
Santa C1 ara County 2,787
Transit
El C~mi no Park 7.5
Remaining Lease Area 4.69
Total 13.182
CMR:271 :0 4
Revenue
C!Jrrent
Paymen t3_-.1.Q.._SJ_Ml fa rd
Collected land lease % Rent
$311,339
97,Dll
14,22D
79,203
15,800
---
$527,574
$
17,879
14,220
79,203
191,895
lZQ,625
$434,823
$155,670
34,131
$lB9,801
._---------
•
-';.-
The summary sho~s that tnis year the City will pay abDut $97.000 mDre per year
tnal'J it re-ce";ves from tne tenants and park users. Thls discrepancy 'Wil' escalate
each year the lease continues. The incre?se in rental is ~ue to the passage-of
Propositicm 13 in June of 1978 and dramatic increases in tr.e market value of
land. This is illustrated in the gra,ph below:
STA.NFOF:D I_EASE RENT for 16.33 ACRES
~ w • 5
~
0
0
" 0 -0 z < , ,
0 • t·
450
400 j
,.0
~uO
250
200 I
:s" ~
100 ~
"'b +-----" ... D •
69-70 74-75
'370-1990
7'3--ec
1:. :~ CRE.ASE IN RENT
----,
e4---8:'
Prior to Proposition 13. rental for the E1 Camino site was calculated based on
4 percent of tile ass.essed value of the leased property. After Propos"it;on l3,
assessed valuation growth was limited and r.o longer kept pac~ 'With market value,
In 1971, the lease for everythi ng but the Hal iday Inn parcel 'Was mutually amended
to appraise the ,property based on market value every five years by a Member of
the Appraisal Inst-;tute according to the property's higt1est and best us!~ which
was estab1ished in 1971 as lOW-density residential.
The graph below s~ows what the increase would be if the market value continues
to increase by 50 p~rc~nt every fhe years and by 5 percent (PI increases in the
intervenin9 years. Exhibit B also shows what th~ rent is estimated to be for
the 12.19l acres, for which the City is directly responsible over the remaining
term of the 1 ••••.
CMR,271 ,0 5
•
EI Camino Park Rent
1989-90 through 2012-13
Thousand8
aooo~-----------------------------
2500 ...... .
2000 ......... .
1500
1000 ........ .
500 ....
o~~~~~~~~~~~~~~~IU~~~~L~~'
90919293949596979899 0 1 2 3 4 5 6 7 8 9 10 111213
_ 16.~ Acre8 ~ 12.191 Acre8
CMR: 271:0
!
...." .. ,:
~lliiQ.!lj
Stanford Uni¥ersity has expr-essed a ·lII'il1ingness to work ... iU the City as 10;)9
as t~ere ;s no reductiDn in rer.t. City staff and Stanford representatives ha~e
e.xpl<lred several options {see Exhibit 8}. Each option has its drawbacKs.
Shnfor-d feels that it couTd find a better use for the property in order to
generate ill nigher rate of return. Staff belie .... es Shnford's desire to develop
t~e propert1 to its highest and best use means that litt'e consideration would
be given to the: currerlt subtenants ind the historical v .. lue of the propertj
should the City deCide to give up the entire 1eased are.?!. Each of th~ sublessees
has 2xpressed a desire to ~ont1n~e use of t~eir subleased sites. Holiday Inr.
seon will cegin construction on its expa~siQn; MacA~thur Park Restaurant also
wants t~ expand its ~peration; the Red Cross wou1d Tike to remodel its facility
and expand the parking lot, and the Urhan Ministry would like to esiabiis~ a
permanf:nt loc:ation f{Jr its homeless drop-in center. The Santa Clara Count)
Transit District, is continuinQ to explore the possibility of automatirs t~e Depot
portion of its operation, and there is local interest-in develDping a flower
stand and passenger food service faciljty in thf Depot. fn each caSe, it is net
antiCipated that the additior~al income that may be de .... e1oped will keep pace with
the-anticipated increase in the rental paid tc Stanford. Based on this
information, staff has delle1ope-:l five different alternatiVes fl.)!" Council
consideration.
Altero,tive I: St.tus Quo
The Council could continue the lease agreement ~ith Stanford and pay the rental
as established by the appraisal. The 1989+90 rental for the 7.5 acre El Carr,ino
Park and the 4.69 non~recre~tional area is $313,521.
Alternative 2: Discontinuance of El Camino Park Lease
Staff could investig,te the possibility of gi,in9 up the park portion (12.191
acres) of ttle leas! property. Stanford is "'111in9 to tdi<.e the property back with
the condition they be allowed to develop the property in some fashion. Dis·
continuing the lease wil] require voter appro .... al under the park dedir;ation
provisions of the City C~arter. Discontin~ing the leas~ wou1d also require the
property be withdrawn from the Williamson Act. The City ~ould be required to
'P~y a fte-nalty f~r-withdrawal of approxil'llate:'y $1,0350,000. In addition, the City
Pl anning Department has indicated that an office park. devel cprnent would confl ict
with a ~ariety of comprehensive plan policies, although residential u~e wou1d
complelnent some policie~, including the Go1den Triangle Poi icy 'Previously
approved by Counei 1 • A7IY deve i opment cond it ion t-y Star. ford or a part i a 1
termination and any future de~elopment would require an eMironmental assessm€nt.
Alternative 3: Initiate Eminent Domain Procedures for the Ent~re Leased Site
Staff could in'.'estigate the possibiiity of initiating eminent domain proceedings
for the entire leas!d site in order to protect the existing uses. This Gction
would require that the market 'lIalue be establ ished and' an offer made to Stanford.
CMR:271:0 7
... -:~--... ,~-
The marK!t valu~ wo~'d in all likelihood be based on tne use established by the
lease (low density h~using) and include compensation for the pr~sent value ~f
the estimated Toss of rev€nue. A professional apprclisal would be reQuir€d, but
for purposes of this discussion, staff estimated market value at S10.5 million
and present value of lo~s of revenue at or in excess of S20 million. Under the
em'nel'lt domain pr()(..ecil.lT~t the City 'wtould flot ha .... ~ to pay 01 penalty fer
withdrawing the property from the IJ-i 11 jamson Act Preserve.
Alternative 4: p;;artial Condemnatlon of leased Site/MacArthur Park. S.P. Oep,)t
alld' Red' Cress
Another option wo~1d be to investigate initiating eminent domain action for ju~t
the purtion of the Teised property that covers th.e MacArthur Park Resta'Jrant,
Red Cross and Santa CTara Transit District subleased properties. The Holiday
[nn portion of the property would continue as is. The 12.191-acre n Camino Park
and surrounding gro'w'e would be roeturned to Stanford. Discontinuing the park.
portion of tf)e 1easE would require voter appronl. In order to fl1e an eminent
dom!1n action, staff would 'naYe to hire an appraiser to establish the market
'Value incl uding severance damages and loss of re· .. enue and offer that amount to
Stanford. This ac.tion 'lfould i!Jiso require an t!:nvirOTrmental osses.sment. Fer
discu~sion purposes, staff estimates the mark€t ~a1ue and the present value for
the ~stimated loss of revenue at or in excess of S6 million. Se~erance damages
mayor may r.ot be an issue and would have to be determined by an appraiser. Th~
~resent value portion would be reduced substantially if Stanford ~ould deve10p
the prOpE;rty and generate an income from the property dwr-ing what would have been
thO! remaining term tlf t~e lease. Under this proposal. the City would pay
approximately Sl,0.35,000 in penalty fees for withdrawing the property from the
Williamson Act.
Alterr.ative S: Partial Condem!'lation of leased SHein Ca.mino Park Portion
!n this scenillri(J, staff would inv€stigate the possibility of fiiing em1nent
don:aln proceedings for the park portion (l2.191 acres) oniy. The City's
sublessees would tontinue to pay rent for th~ remaining Ma(Arthur Park, et al
portion of the lease. This alternative would assure that thE park. would continue
to u.ist beyond the term of the 1ease. This adion woul~ not require v~ter
approval, nor would the (;ty be penalized under the Williamson Act. It wouTd
require tnat th~ market value be established. an offer made to Sta~ford, anc an
enyironment.l assessment. For purpOSES of this di~cuss;on. using the current
appraisal, staff estima~es tne market ~alue of the land and the present value
of loss ~f revenue at or in exc€ss of S15 mi11ion.
Reconmendation
In 1915 the City needed land for a Municipai Service (enter and a park. Stanford
owned the land and made it avallable. 1he rent negotlated ~as ag~eed to by both
pirties. Until 1978 He City enjoyed the benefit of leasing the land at a
h:v{irable rate. The City relied on that favorable rate and: estab1ished oon
revenlie-gerierating uses (El Camint1 Park, tt1e Red Cross and the veterans'
CltR:271 :0
\
•
/ .
buildi"9J. In 1965, tn. City and Stanford explored the idea of de.eloping E1
C,sm'no Park.. Hie citizens. of Pa.10 Alto rP;lcted by passing an init;at'I'~e that
E1 Camino Park be dedicated itS park land. rn the J97{l'"s anc1 198C 's the City
sa'll the opportfJnHy to generate revenues (Hal iday Inn and MacArthur Park.
Aestaurant). Evel ) then~ the reyen~H! generated was not designed to pay for ether
use~ of the site. Tne passage of Proposition 13 and the increase in land values
brought an end to the City's advantageous lease pO$ition. The City is locked
into an agre2JM!nt in whjch the rental paid' for El Caminl) Park exceeds the benefit
gained from the use Qf the park site.
tInl ess tne Council directs shff to stay with t.he st.ltus quo, staff recom-ends
tnat Council direct staff to return with information on:
1) E"rtvironmental review and preparation of an EnVironmental Impact
R~port.
2) The possible relocation of £1 Camino Park facilities to other
lo.cations.
3) Tne return of E"1 Camino Park and surrounding groves portion of the
le.,. to Stanford Ur.iversity (12.191 acres'.
4) An apprai sal of the market value of the ~ac~.rttH..Ir Park Restaurant
and the Red Cross lands and the S.P. Depot, land and building.
5) Whethe-r the State lands Conlrdssion would consider waiVing the
~illiam$on Act fee.
6) Potential flnancing to support the above actions.
7J An update on any further negotiations with Stanford.
8) Preparation of ballot issue to present to the voters for removal of
the park dedication of El Camino Park.
CMR:271:0 9
• I:tP
..
....... -.
. -. ,
Staff ,'so re;:OiM'renrls tounci1 dire~t $taff to pay this year's rental far the
entire-site as established by t"-e appraisal provided by Stanford.
Respectfully submitted,
1l f\~, (\,-,_, I :..;
""""~~" -. \ •. ".-<...-
~ILlIAM W. FELLMAN
Rea1,:~roperty Manager
/",-" '-~/. L1. (z " .. I.J
Ei1r6 HARRISON
Director of Finance
LJ~,~----~ WILLIAM :ZAliER
City M,n.ger
cc: Pl~nning C01III11ssion
Stanford University
City of Menlo Park
Red Cross
Holiday Inn
S~t& Clara Transportation Agency
C~ty P.r~s and Recreation
CKR:271:0 10
•
•
•
;J
~I , ,
l ,
i
t l
\[
" tj
"
i ,
I
I
I
I , l I' , J
j
! .
.J ! ,
,
4
L STATUS IlUO
z. RETURN PROPERTY W/il:OHING Fe. SPfCIFlC USE
3, UAOE I..rv.R ANliluAl REIIIAl ,Oftl
/
". JOiNT DEVElI}PI'IENl
5. TUDr FnA OTIIER r:,U-OoI»fD lAJilD
6, E~INEHl D(JIIIAIIf
fELtfllAIlIVECPBIlAIN.1 ray: '"~G·90
EXHI8IT 8
r::," Of PAlO ALTO
11I1"L E,,.ATe OIYUIOIf
EL fMINO """I{ RUOLUTlOII/RANGE OF POsllIlllTlU
.) COIIIEPCIAl
b) MII(ED USE
I!J RESIDEliitlAt
I) RUo'Hlila Of :5 LOTS .1O .... COYOTE
Hill I" 1992
b) CITY $ COIiITiUIUTlOII to .... 111 HilL
ROAD DEVELOf'tif;NT
c) fU C!lARGE
,. SEWER
2. OTHU
d) ItAnl£lD AREA 10lllf
.) OTMU
.) HOTEL
b) $tI\All CPllVENlIOIII CENTt.1I (500 OR ~U,)
c) OlHfR
.) 77 ACRES (POItTIOln
b) llEi..lSllf • ALMA
t) STANFotO "liE STAll ..
II!II~ PARTIAL
1. Pili/( Otil'
Z. DEPOT AREA
b) Elf TIllE sITe
-,,,,,>-,", .---,..~--
\/OUR REMO\'e
APPROVAL fRI»f VllllAMSOil
NO No
n, '"
YES 'EB 0
YES '"
NO NO
'" '0 ,";,{~~;, ,') ,
";,:-.' .;,,~y~;w~,;i~'\t: \ .. '0 ,.
NO ,.
'0 ,0
'" '"
'" '" C)
l " NO •• .J.;-"" ~ , .
'0 •• ,. '" I " "
.0 N.
'0 '0
NO ,0
.~