The City Council approved a Compensation Agreement that will help facilitate the sale of five former Redevelopment properties near Diridon Station for a potential Google development. Per the terms of the Compensation Agreement, the properties were valued at $67 million, based on appraisals conducted by both the City and County - a sum 2.5 times what the City originally paid for the properties.
"This Compensation Agreement allows us to advance discussions about how we can create a vibrant, architecturally iconic, transit-focused village around Diridon Station," said Mayor Sam Liccardo. "I look forward to engaging with our community in a robust discussion about how we can realize our shared ambitions for our city."
The City completed the second of what will be 15 public hearings over the potential sale of these parcels. In addition, the City has launched its robust community engagement plan, which will entail numerous opportunities over the next several months for the public to share its concerns and ambitions for a proposed Google complex. Residents can check the
Diridon Station Area informational page of the City's website
to see updates as they become available.