HomeMy WebLinkAboutStaff Report 1.A 01/31/2011 Late DocJanuary 31, 1, 2011
Mayor David Glass
Petaluma City Council Members
City of Petaluma
11 English Street
Petaluma, CA 94952
RIE: Redevelopment Allocation Funding
Dear Mayor Glass and City Council Members:
JAN 31 12011
CITY MANAGER
The need to protect Petaluma's redevelopment funding from the State of California is
highly commendable and smart. Governor Jerry Brown inadvertently stimulated the
economy by promising to abolish redevelopment agencies. In your effort to protect
y
capital projects described within the resolution, I. wish to point out critical future
investments that will transform downtown Petaluma.
The $75 million approved North River Landing mixed-use project will generate 125
permanent jobs, , $5.3 million in fees, $275,000 in taxes, and 125 temporary construction
jobs. In order for the project to move ahead, redevelopment funds are needed for the
construction of Water Street and Oak Street extensions, approved in the 1987-2008
General Plans and within the Central Petaluma Specific Plan.
I sincerely hope the City will keep this major project on its radar screen when acting on
the redevelopment resolution.
Sincerely,
--Ie
Chris McCarthy
General Partner
North River Landing, L.P.
(707) 479-8753
cc: John Brown, City Manager