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02. Economic Development 10300 Torre Avenue Cupertino, CA 95014 (408) 777-3308 FAX (408) 777-3333 I F CUPEIQ1NO Community Development Department SUMMARY AGENDA NO. ~ AGENDA DATE January 30. 2006 SUBJECT: Discussion about the General Plan policy on Economic Development. Recommendation: Discuss the General Plan policies related to Economic Development. Backl!round: In November 2005, the City Council adopted the General Plan with updated policies pertaining to Economic Development. The Council asked to include these policies in a study session to allow the council to discuss the details of implementation. Discussion: To assist your discussion, attached is a list of the General Plan policies and the Power Point slide pertaining to Economic Development contained in the Mayor's State of the City presentation on Wednesday January 25,2006. , ~ Ste e Piasecki Director of Community Development David W. Knapp City Manager Attachments: List of General Plan Economic Development Policies General Plan Changes - Economic Development from Mayor Lowenthal's State of the City presentation on Wednesdy January 25,2006. 1. -I CUPERTINO GENERAL PLAN ADOPTED 11-15-05 Excerpts of Text and Policies Related to Economic Development Policy 2-20 Diversity of Land Use Maintain a city structure of Neighborhoods, Commercial areas, Employment area and Education/Cultural areas. Provide sufficient development opportunities for these areas in order to enhance their distinct character and functions, while maintaining the desired transportation levels of service. Strategy 2: Major Companies. Prioritize expansion of office space for existing major companies in Cupertino. Retain a pool of 150,000 square feet to be drawn down by companies with Cupertino sales offices or corporate headquarters. New office development must demonstrate that the development positively contributes to the fiscal well being of the City. COMMERCIAL CENTERS Commercial areas in the City offer a variety of goods and services directly to residents in the neighborhoods or the larger region. Vallco Park and the Crossroads Area are the primary, concentrated commercial areas. General Plan allocations for other commercial areas are for local-serving commercial needs. Commercial/residential mixed-use is encouraged in selective commercial areas ifthe residential units provide an incentive for retail development and the resulting development is financially beneficial to Cupertino. Active commercial uses, such as bookstores, coffee shops, restaurants, office supply, furniture and electronic stores are encouraged to locate in Cupertino. Policy 2-27 Heart of the City A majority of the commercial development allocation should be devoted to enhancing activity in the major activity centers. Mixed commercial and residential development may be allowed if the residential units provide an incentive to develop retail use, if the development is well designed, financially beneficial to Cupertino, provides community amenities and is pedestrian-oriented. Land uses between the activity centers should help focus and support activity in the centers. Policy 2-28 Crossroads Area Development Activities: Development along Stevens Creek Boulevard shall have retail uses with storefronts on the ground level. Commercial office uses may be allowed on the second level. Limited residential uses are allowed. Policy 2-29 Stevens Creek Boulevard Mixed commercial and residential development may be allowed if the residential units provide an incentive to develop retail use, if the development is well designed, financially beneficial to Cupertino, provides community amenities and is pedestrian-oriented. Land uses between the activity centers should help focus and support activity in the centers. ~-J- 2 Policy 2-30 Val/co Park South Retain and enhance Vallco Park South as a large-scale commercial area that is a regional commercial (including hotel), office and entertainment center with supporting residential development. Strategy I Master Plan - Prepare a Master Plan for this area to ensure continuity of mass, scale, connectivity and adequacy of infrastructure and services, including schools. Strategy 2 Continue the Val1co Parkway streetscape, which was approved as part of the Val1co Rosebowl mixed-use development, along the entire Parkway. Development Intensity: Development intensity shall be determined in conjunction with specific development review. Mixed commercial and residential development may be allowed if the residential units provide an incentive to develop retail use, if the development is well designed, financially beneficial to Cupertino, provides community amenities and is pedestrian-oriented. Heights: to 60 feet if there is a retail component and 45 if not. Policy 2-31Homestead Road Development intensity shall be determined in conjunction with specific development review. Mixed commercial and residential development may be allowed if the residential units provide an incentive to develop retail use, if the development is well designed, financially beneficial to Cupertino, provides community amenities and is pedestrian- oriented. Policy 2-38 Economic Development Plan: Use an annual, 5-year revenue projection, forecast by revenue area, to correspond to Cupertino's current revenue analysis. Include a fiscal analysis of development applications comparing the development proposal with the annual economic development plan, including the fiscal impacts of the development on the city's projected 5-year revenue stream. Develop a proactive economic development strategy that links residential development to provision of revenue generating uses such as sales tax offices and retail uses. Create an economic development staff and budget. New Policy Conversion ofOfficelIndustrial Uses to Residential: Evaluate the economic impacts of converting office/industrial uses to residential uses. New Policy Maintaining Cohesive Commercial Centers and Office Parks. Cohesive commercial centers and office parks are necessary to maintain a healthy sales tax base for the city and to retain opportunities for existing businesses to expand in response to changing business trends. Cupertino's major retail commercial centers are located at Vallco Fashion Park, The Marketplace and Portal Plaza centers, Cupertino Village, the Oaks and the Crossroads Commercial District; the office parks are located at Val1co (North of Highway 280), North De Anza Boulevard and Bubb Road. Projects with residential or quasi-public components proposed to replace some or all of the existing industrial, office and commercial uses on a site in these areas will be 2-] 3 evaluated on a case by case basis to determine if they are complementary to the overall business park or shopping center, or otherwise meet the following criteria: I) Integrate into the existing land use pattern by: · Continuing established land use patterns (e.g. commercial next to commercial or residential adjacent to residential) · Continuing patterns of building massing, setbacks and height · Establishing logical development patterns bounded by visible natural or man-made features such as a public or private road, creek, freeways etc. 2) Provide visible pedestrianlbicycle connections to and from existing uses. 3) Provide a visible and publicly accessible park/plaza or open space area. 4) Orient active building spaces to the public or private rights of way. 5) Provide superior building design with high quality natural materials and building architecture. 6) Demonstrate there are sufficient existing or supplemental local revenues to support municipal and school services needed to serve the development. 7) Show that the building is functionally obsolete in a market sense and cannot be reasonably redeveloped or marketed into a compatible use within the surrounding area, or show the existing building/use is no longer complementary to the larger commercial center or office park. 8) Show that the development can reasonably stand alone as a self-sufficient land use that is otherwise complementary to existing buildings and uses. 9) Show that the residential or quasi-public use provides an incentive to incorporate a significant component of commercial or office uses on the site. Two-thirds ofthe commercial/office square footage that is converted to residential uses shall be allocated to major employers (companies with Cupertino sales offices or corporate headquarters). The remainder of the square footage shall be allocated to the commercial or office pool in the subject area. . Policy 2-39 Partnerships: Encourage the private sector to participate in partnerships with nonprofit or public agencies to provide community benefits and services Policy 2-40New Businesses and Business Retention: Encourage new businesses and retain existing businesses that provide needed local services and municipal revenues, contribute to economic vitality and enhance the City's physical environment. Strategy 1: Collaboration with Business Community; Collaborate with the business community to facilitate growth, development and infrastructure improvements that benefit residents and businesses through the City's Economic Development Committee and other resources. 2-~ 4 Policy 2-41 Maintain Streamlined Development Review and Building Permit Processes: Provide efficient and timely review of development proposals, while maintaining quality standards in accordance with city codes. Look for solutions to problems, be responsive to community concerns, promote positive communications at all levels of review and provide analysis and advice to decision-makers to help them make informed decisions. Cupertino is interested in working with local companies and businesses to maintain a high quality community. City officials strive to be responsive to the needs oflocal businesses and seek opportunities for interaction with them. Policy 2-42 Retail Sales and Office Development In reviewing office development proposals, encourage office uses and activities that generate significant revenues to the City, such as local sales offices, capturing point of sale internet transactions and business to business tax revenues. New office development exceeding 50,000 square feet shall be approved only if one ofthese or similar benefits are provided. Policy 2-44 Incentives for Reinvestment Provide incentives for reinvestment in the existing commercial areas. Strategies: I. Mixed use. Consider mixed-u8se (office, commercial, residential) in certain commercial areas to provide more community identity, pedestrian activity and housing opportunities without marginalize tax-revenue producing businesses. 2. Shared or Reduced Parking. Consider shared parking or reduced parking requirements as incentives to construct new commercial development without constructing unnecessary amount of parking. 3. Streetscape Improvements. Consider streetscape improvements to such areas as the Crossroads area to encourage redevelopment of the area as a pedestrian-oriented, mixed- use village and to contribute to housing or community design goals. New Policy Big Box Development. Consider approving big box development if it is compatible with the surrounding area in terms of building mass and traffic. G/public/steve p/economic development plan. doc '2-j N , <S'--