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500 El Camino Project Review

From: domainremoved <Patti>
Date: Mon, 28 Aug 2017 13:18:00 -0700

Dear City Council and Planning Commissioners

It is premature for approvals of the Stanford project, its Final EIR or its
Development Agreement.

Changes are necessary to make the project as good for Menlo Park as it is
for Stanford. An economic impact analysis is needed to ensure that happens.

This project addresses Stanford's own needs for housing its own people and
for offices that will either be rent-producing or for academic uses. The
project clearly brings significant adverse traffic impacts to Menlo Park;
the final EIR concludes that. Now, because it is clear that some or all of
the site is intended to be "academic" and exempt from property taxes, it is
clear that it does not address Menlo Park's housing shortage, and the
project's economic benefits to Menlo Park appear to be minimal - if at
all. Remember,
when the El Camino Real/Downtown Specific Plan and its economic impacts
were evaluated, it was generally assumed that some hotel rooms would be
added on this site and it was hotel room Transient Occupancy Taxes ("TOT")
that made the Specific Plan financially positive. [At present, 2/3 of the
hotel rooms forecast are in the works, and 138 of those are at the Marriott
Residence Inn where long-term stays (likely) would not pay TOT. Where would
the remaining 131 rooms be located?] Stanford was aware of this economic
assumption during the entire planning process.

Please consider the attached set of comments, and address them before
moving forward with approvals.

Respectfully submitted,
Patti Fry
former Planning Commissioner

Received on Mon Aug 28 2017 - 13:20:02 PDT

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