This special post is “Talk About LOCAL Politics”.
Please use this post to talk about LOCAL politics, and keep state and national politics out of this thread.
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this column looking a bit empty this weekend……… Thought I’d make a comment just so it isn’t a “0” Comment….
And…. I’ll give it a thumbs up too
🙂
Danthony Dmarco?? got a whopping 1200 votes for treasurer running on a “racist” platform,but these were not for him but were against his opponent that got 7000 something.Hardly anyone cared.Not even 1/10 of the city voted.
Anybody read the Term Sheet for the CNWS development that was just released?
It has a lot of phases, and the first phase is not the high density zone around the BART station. That is a change I think from the Lennar plan, and is definitely more realistic. Overall I think the Term Sheet is a ‘take it slow and easy” approach. Development of each phase will depend on market conditions and will need to meet ROI.
I think the community benefit amounts are not that generous, but beggars can’t be choosers, as they say.
I am glad they are still working from the previously approved (clustered Villages) plan. This will provide neighborhoods with lower density housing, neighborhood small retail, and neighborhood parks. Family friendly.
Big upfront issues with the term sheet (with noting that, as of this posting, city staff has not yet done a presentation to provide details):
Pro forma doesn’t list developer’s own upfront financial capital as part of the way to pay for initial infrastructure. It does list CFDs which is basically property tax increases for homeowners. Curious if this includes issuing bonds to raise capital and does that mean Seeno doesn’t have the money to start the project.
Developer wants Concord to give it title to certain property upfront to build infrastructure. Concord should be leasing this to the developer, not handing over title. Handing over title is how the City of Vallejo ended up having to buy back its own property from Lennar at Mare Island.
Majority of community benefits are not in Phase 1. Later phases could be 20 to 50 years from now. Current Concord residents who appear to be headed toward taxation to enrich the developer should get more community benefits earlier.
No dedicated funding amount for infrastructure that needs to be improved just outside of the boundary of the CNWS. Like Port Chicago or Willow Pass. Heavy damage is coming from massive initial infrastructure like sewer pipes. Catellus previously promised to dedicate $65M upfront for this and even Lennar had promised $15M (that $50M difference should still trouble you when you recall Lennar was selected anyway). No amount appears to be dedicated upfront, just reference to financing it. This cannot be financed by selling property on the base because it has to completed in order for anything to even begin to be built on the base.
Good points, Hope. I didn’t see any inflation escalator in the community benefit dollars. For a project that will take decades to complete as you mention, this would be a significant oversight.