Carol Silva, Livermore
On January 10, 2021, the Livermore City Council’s meeting had an agenda item for the Council to consider loaning a for-profit, Limited Liability Company, 2205 Railroad Avenue LLC, which is associated with the Presidio Companies LLC developer of the downtown hotel, $1.9 Million to develop a parking facility at 2080 Railroad Avenue.
Facts to the best of my knowledge are as follows:
1. The developer was to provide parking for its hotel guests under the structure of the hotel.
2. Recently, but prior to the January 10th City Council meeting, the Council held meetings behind closed doors with Presidio Companies LLC.
3. With the Council’s January 10th approval to an Amended and Restated Disposition, Development and Loan Agreement, it effectively permits Presidio Companies LLC to provide surface parking instead of the more expensive construction costs of an underground parking garage, and it makes it easier for the Council to state that there is insufficient space on the north side of Railroad Avenue to have Eden Housing moved to that area.
4. The construction of the downtown hotel is supposed to occur during 2024-2025. Therefore, the construction of any type of parking facility for hotel guests would not occur before this period. Of course, Presidio Companies LLC would not want nearly $2M of its money invested in property that is sitting unproductive for a couple of years. Therefore, they would want the city’s money used.
The city’s loan to Presidio makes it a win-win situation for the City Council and for all the Presidio LLCs associated with the project. However, it will impact the residents and visitors of Livermore by creating more of a congestion bottleneck on downtown city streets with hotel employees driving cars to and from the parking structure and by constantly walking on not just one crosswalk, but two crosswalks, to go between the hotel and the parking structure.
How many LLC’s are able to obtain a $1.9 Million loan from the City’s General Fund, which is funded by us taxpayers? Another parking garage is a waste of taxpayers’ money. A recent report to the city reflected the many needs of our infrastructure. Shouldn’t taxpayer money be spent on infrastructure instead of loans to a LLC to build a surface parking lot, which would be a disappointing use of a prime location?