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
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