I'll be reporting live from the San Jose City Council meeting where they vote on whether to approve the deal. Its a packed house.

portion starting now.

There will be a presentation by City of San Jose and then Google. Public comment will be shortened to one minute so everyone can be heard.

City wants traffic at Diridon Station to increase 17x. Want it to be the ideal/best station in North Amrerica. Land is already slotted for expansion and development.

City wanted a singular lead developer rather than piecemeal development. City gets more control with master developer. Gives better ability to negotiate for things that benefit the community.

Google expressed interest in early 2017. Some city staff and elected officials were under NDA from February 2017. They expired June 9, 2017. Claim its necessary to avoid speculation by other developers.

Four out of five city properties discussed today were originally bought by city for the proposed A's ballpark plan that fell through in 2008ish.

By law these must be sold for economic development, and proceeds split among all 15 tax entities in the area: $67 million.

Discussing civic engagement efforts now. Estimate intracted with 1,200 people over 10 meetings, walking tours, etc.

Main issue raised was housing crisis and displacement.

Staff officially recommend the proposal. Most critical need is need for jobs and tax base. San Jose has worst jobs to residents ratio among US big cities. Just 0.81. We're a bedroom city.

60% of SJ residents commute out of city for work.

San Jose mandates 15% affordable housing for new development, among other housing safety improvements. Claim best city in South Bay at it.

City and Google expected to enter into a Development Agreement. And future development of land will require investment into community services.

Pricing: $67 million. City of SJ has first offer of repurchase.

Escrow expected to close December 31. Cost is $237.50/sq foot.

One of the sites is the city's fire training center. Google will lease the property to the city for free for 3 years as it gets relocated. City had wanted to build a new one for years. Proceeds from sale will be used to build new one.

This deal today would only be the "end" of Phase I. Phase II is project planning and design, will span from 2019-2021. Will include negotiating developer agreement. City expected to have 5 different approvals over the process - a lot of control.

Conclusion from city staff report: lots of cities are struggling, we are lucky that Google wants to invest in us. But its important we do it right, and show what urban redevelopment should look like.

Google VP of real estate speaking now. Thanks for condutive community process. Want a Google friendly area integrated into local community.

Google willing to pay market rates and not demand subsidies. Acknowledged housing and homelessness problems.

Mayor Sam Liccardo thanks Google for not doing what Amazon did - extracting tons of subsidies from local governments. From day 1 Google has wanted to pay fair rates, and pay additional community benefits. Didn't want nor ask for any breaks.

Oh and the Mayor thanked MLB for not letting the A's move here. We would've gotten 7 million for that instead of 70.

"Approving this deal is class warefare" -- a teacher and San Jose resident

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