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Vallco Specific Plan Update: City Council Decision

Post Date:09/20/2018

Last night, the Cupertino City Council adopted the Vallco Town Center Specific Plan in a 3-2 vote.

The discussion began at the Council’s September 18, 2018, public meeting. It included a staff presentation followed by consultant presentations, owner statement, Council questions, and public comment period where 72 people spoke.

The meeting was adjourned at 1:50 a.m., after the last public comment, with Council reconvening on September 19, 2018, at 5 p.m. to continue discussion of the item. Council asked questions regarding the EIR, Specific Plan and development agreement, which were answered by staff and consultants.

The following is a summary of the development program and community benefits within the development agreement:

 

TIER 2 DEVELOPMENT PROGRAM

(with "community benefits
density bonus")
(Vallco Property Owner, LLC)

Maximum Residential

(Number of units)

2,668

Minimum Commercial/Retail

(Square feet)

400,000

Minimum Civic/Cultural

Uses (Square feet)

85,000

 

 

Maximum Office (Square feet)

1,500,000

Maximum Office Amenity

Space (Square feet)

250,000

Maximum Hotel

(Number of rooms)

191

Minimum Public (on ground)

Open Space (Acres)

6.0

 

Community Benefits List:

  • Performing Arts Center – Vallco would either, at City’s option: (i) build and lease to City a 60,000 square foot “warm shell” space suitable for a performing arts center (PAC), or (ii) pay the City a $22,800,000 in lieu payment.
  • City Hall – Vallco would either (i) demolish the existing City Hall building and then build and deliver to City a 40,000 square foot “warm shell” new City Hall including underground parking, substantially consistent with the City’s 2015 civic center master plan, or (ii) pay the City a $30,000,000 in lieu payment.
  • School District Benefits –
    • FUHSD - Vallco would commit to either (i) build and lease to FUHSD a 25,000 square foot “warm shell” space, or (ii) pay FUHSD a $9,500,000 in lieu payment, with terms to be set forth in a separate agreement to be entered into between Developer and FUHSD.
    • CUSD – Vallco would make a payment to CUSD in the amount of $14,250,000 pursuant to a separate agreement, which would decrease to $9,500,000 if there is a challenge to the Project.
  • Affordable Housing – Vallco would agree that 20% of the residential units would be provided as affordable housing at the following percentages:15% at extremely low, very low and low income levels and 5% at moderate income level.
  • Transportation Benefits –
    • Vallco would implement a TDM Program.
    • Vallco would pay $11 million to City to fund work in connection with the Wolfe Road/I-280 and the Junipero Serra Bike/Pedestrian Trail.This would decrease to $5.5 million if there is a challenge to the Project.
    • Vallco would fund up to $1 Million for a 1-year pilot shuttle program and, if successful $750,000 thereafter for 9 years, which would decrease if there is a challenge to the Project.
    • Vallco would provide a mobility/bike hub within the project.

For more information on the Vallco Specific Plan, visit www.cupertino.org/vallco.