During the April 8 Sunnyvale City Council seminar, Vice Mayor Jim Davis noted that Texas Instruments is selling property found at 2900 Semiconductor Drive in Santa Clara.
Staff was expected to look into the acquisition of the property that has been developed into sports fields and event space to come to be integrated towards the city’s readily available location stock.
The city functions had a huge absence of acreage in college sites, as school locations have really required to make use of offered area for additional classrooms essential for an establishing student population.
The community also keeps more than 475 acres of open spaces and parks throughout the city and promises to improve its park dedication standard to 5 acres per 1,000 residents by July. But with developing schools continuing to infringe on the open space, the city also lost a wide range of land area throughout the a lot of many years.
A shortage of land and park development over the last ten years furthermore compounded the issue, although Seven Seas Park is prepared to be developed and presented in July.
The offered land area Texas Instruments is selling is mainly about 15.5 acres and includes recreation parks, picnic spots and a water feature. It’s placed on Kifer Road in Sunnyvale.
The open space, regardless, is part of a bundle discount of five parcels totaling 24 acres, community staff members reported. Texas Instruments employees confirmed that all the parcels are to be provided as one bundle to one buyer for $95 million and that the company is possibly perhaps not ready to selling the area separate of the other parcels.
This year was in fact the very first time the city set aside funds to purchase parkland particularly, city workers mentioned. The city began setting up aside 20 per cent of all the park dedication fee revenues for the purchase and improvement for the new land area.
The remaining 80 per cent of earnings are devoted on parks and recreation centres determined in the cash improvement program.