DRAFT FINAL REPORT - COMMUNITY BRIEFING September 15, 2015 1 S A N - PowerPoint PPT Presentation

DRAFT FINAL REPORT - COMMUNITY BRIEFING September 15, 2015 1 S A N T A C L A R A C O U N T Y F A I R G R O U N D S

TONIGHT’S AGENDA • Introductions – County Team Glen Williams; Bruce Knopf; David Barry • Overview Presentation Guiding Principles Outreach Efforts Fairground Operations Commercial Land Uses Uses Offered by Stakeholders • Questions and Answers Open Discussion 2 S A N T A C L A R A C O U N T Y F A I R G R O U N D S

COUNTY GUIDING PRINCIPLES  Transparency  Inclusion  Heritage  Community  Economic Growth  Maximization  Open Space And Recreation  Long Horizon 3 S A N T A C L A R A C O U N T Y F A I R G R O U N D S

OUTREACH METHODS 4 S A N T A C L A R A C O U N T Y F A I R G R O U N D S

ALTERNATIVE SIZED FAIRGROUND OPERATIONS 0-Acres 30-Acres 60-Acres 90-Acres Caveats County Fair & Shared parking Includes Tully Includes Tully Parking Community w/Tully Parking Events must relocate Analog Aksarben Current Fairgrounds San Mateo Events Alameda County (slightly smaller) Center Fairgrounds (slightly larger)     Maximizes Must exploit Small for fully Appropriate for full Conclusions available current buildings functional Fairgrounds  real estate Can be self- Fairgrounds operation   for non- sufficient Misses larger Allows for future  Fairgrounds “Pocket opportunities. Expo Hall  uses Fairgrounds” Can be self- development.  sufficient Can be self-sufficient Available 150 acres 120 acres 90 acres 60 acres Real Estate 5 S A N T A C L A R A C O U N T Y F A I R G R O U N D S

POSSIBLE LEASE REVENUE FROM COMMERCIAL LAND USES Annual Lease Revenue Estimates by Land Use Category Land Value Annual Lease Revenue (per Acre) Land Use Category per Acre (at 6% yield) (at 7% yield) Currently Demonstrating Market and Entitlement Support Commercial Recreation $150,000 $9,000 $10,500 Hotel $875,000 $52,500 $61,250 Retail $1,000,000 $60,000 $70,000 Currently Lacking Market and/or Entitlement Support Industrial $500,000 $30,000 $35,000 Office $2,700,000 $162,000 $189,000 Residential (Multifamily) $3,500,000 $210,000 $245,000 Sources: CoStar Group; Economic & Planning Systems, Inc. 6 S A N T A C L A R A C O U N T Y F A I R G R O U N D S

USES OFFERED BY STAKEHOLDERS Acres Estimated Estimated Annual Requested Annual Rent Rent per Acre Potential Stakeholder California Trolley and Railroad Corporation 2 to 3 $0 $0 Santa Clara Paintball/ Laser Tag 10 to 20 > $120,000 > $6,000 to $12,000 Cambrian Go-Carts 30 eventually $360,000 $12,000 San Jose Giants 66 unknown, but > $0 unknown Bay Area Curling 1 unknown, but > $0 unknown Berryessa Flea Market ("Core Operation") at least 50 acres $300,000 $6,000 Farmers Market Oak Hill Memorial Park [1] n/a n/a [1] The Cemetery has approximately 10 years remaining of expansion capacity. Cemetery would like about 15 to 20 acres on the Fairgrounds site. The Cemetery would need to buy the land; even a very long-term lease is not a possibility. Source: Stakeholder Interviews Conducted by EPS and Johnson Consulting. 7 S A N T A C L A R A C O U N T Y F A I R G R O U N D S

Santa Clara County Fairgrounds and Nearby Uses 8 S A N T A C L A R A C O U N T Y F A I R G R O U N D S

SECTION 3: PRECEDENTS 40 ACRES 9 S A N T A C L A R A C O U N T Y F A I R G R O U N D S

Aksarben Commercial Development Fairgrounds completely redeveloped into commercial mixed- use development. Four day western festival featuring the Douglas County Fair, AKSARBEN Stock Show Rodeo moved to Downtown Omaha, and hubs around Century Link Arena – proximity to Downtown arena makes this possible 10 S A N T A C L A R A C O U N T Y F A I R G R O U N D S

San Mateo Events Center 48 ACRES 11 S A N T A C L A R A C O U N T Y F A I R G R O U N D S

100 ACRES Net Equivalent* * 267 acres but includes mile long track & golf course Alameda County Fairgrounds 12 S A N T A C L A R A C O U N T Y F A I R G R O U N D S