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Pleasanton council offers early support to roadwork financing deal with Costco

Original post made on Aug 30, 2017

A majority of the Pleasanton City Council gave initial support to a financing deal with Costco to fund $21.47 million in road improvements around Johnson Drive on Tuesday, though most members asked city staff to fine-tune the proposal before returning for further consideration next month.

Read the full story here Web Link posted Wednesday, August 30, 2017, 12:51 AM

Comments (12)

Posted by Grapevines
a resident of Vintage Hills
on Aug 30, 2017 at 8:04 am

Grapevines is a registered user.

Good article, in highlighting all the points in specific detail!

Posted by Scott Hale
a resident of San Ramon
on Aug 30, 2017 at 10:08 am

Scott Hale is a registered user.

oh boy, here we go Queue same debate, same information. over and over.

Maybe the naysays should focus on the hotel option, which isn't yet in dried cement. Costco seems to be coming and your elected officials all onboard as well as nearly 2/3 of the Pleasanton (those choosing to vote that is).

build it; they will come; shorter trips

Hoping for new arguments this time. Y'all have until 9/18.

Posted by DKHSK
a resident of Bridle Creek
on Aug 30, 2017 at 11:11 am

DKHSK is a registered user.

The explanation provided does seem to provide a little better color and detail than the points expressed by the anti-costco contingent -myself one of them - in the last thread.

Though I still consider the implications of any government providing loans/financing to "selected" entities, the impact to city coffers seems minimal and payback timing is most certainly going to be less than what naysayers think it will.

Build the Costco and be done with it.

Posted by Michael Austin
a resident of Pleasanton Meadows
on Aug 30, 2017 at 5:29 pm

Michael Austin is a registered user.

Lee Iacocca convinced the United States Senate to invest in Chrysler years ago, and became a folk hero during the process.

Government investment in business is not new thought!

Pleasanton is just now getting involved with that process.

Posted by Flightops
a resident of Downtown
on Aug 30, 2017 at 7:43 pm

Flightops is a registered user.

Pretty good meeting, got some of the issues explained a little better, gloom and doom still won't be happy but I liked what I heard!!

Posted by Scott Hale
a resident of San Ramon
on Aug 30, 2017 at 8:09 pm

Scott Hale is a registered user.

did learn one fact/detail I'd either missed or wasn't presented. That costco would buy their land portion from the developer. Never did make sense why Costco, which is mostly a tenant, would pay ANY amount of infrastructure not related directly to them leasing the building. Well, this article spells that out. Costco will eventually own the land and their building, which is not standard for Costco if you view their financial reporting.

And for those who say anything about 'same store' reporting. Y'all really need to research their financials much closer. the possibility of a new Costco closing is next to zero. If anything, perhaps one of the current 2 'might' close, but doubtful. Customers will be happy if they notice the costco they go to now, has fewer/less people/crowds.

And for those who go after the gas option, please. A new costco won't increase demand for gas, merely redistribute where customers GET gas. AND there lies the biggest issue; the current gas stations will suffer....ker ching.

Posted by Michael Austin
a resident of Pleasanton Meadows
on Aug 30, 2017 at 8:22 pm

Michael Austin is a registered user.

What is not getting attention is the clause "if Costco vacates" the Pleasanton debt is forgiven. There is more, that makes this a great deal for Pleasanton.

Posted by Jake Waters
a resident of Birdland
on Aug 30, 2017 at 8:41 pm

Jake Waters is a registered user.

I watched the entire meeting on channel 29 and I support the city in doing this deal. Really tired of the fear being presented by a number of commenters over the weeks regarding this deal. This is good for Pleasanton. I actually believe all the commenters that are opposed to this deal will be shopping and fueling up their cars at Costco.

Posted by Map
a resident of Del Prado
on Aug 30, 2017 at 9:04 pm

Start the "count down clock" for the end of the price gouging by the local Shell gas stations, you guys had a great run enjoy it while it lasts.

Posted by KElla
a resident of Laguna Oaks
on Aug 30, 2017 at 9:17 pm

Ugh, how much longer is this going to take? When will building start? Any timeline? Most of us just want Costco here already.

Posted by Eric
a resident of Pleasanton Valley
on Aug 30, 2017 at 10:26 pm

Excellent. Get it built. No more 20 mile round trips to another city in another county. We can strip a few dollars from commuters and shoppers heading to other cities instead of the other way around. Won't change where I get fuel downtown or 76. When is the ground breaking?

Posted by Scott Hale
a resident of San Ramon
on Aug 31, 2017 at 9:51 am

Scott Hale is a registered user.

Lisa/Kelly: Where are your 'new' comments? Just curious if there are any 'new' ones, or just rehash of the old ones....

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