Safeway representatives saw their goal of building a two-story grocery store downtown come one step closer to reality after the Los Altos City Council approved the framework for a parking agreement Oct. 25.
The council voted 4-1 in favor of the parking term sheet, with Councilwoman Megan Satterlee casting the dissenting vote.
A traffic analysis by Fehr & Peers determined that the plan was feasible because the city and Safeway have different peak-use hours. The analysis reported that Safeway’s peak parking hours were typically 4-6 p.m., while the city’s busiest hours were 11 a.m. to 2 p.m.
All told, the analysis showed Safeway would exceed its parking capacity for roughly 170 hours per year, typically during holidays such as Thanksgiving, Christmas and New Year’s.
The shared-parking plan was created after Safeway’s design for a new 45,265-square-foot store on First Street fell short of its 226-space parking requirement.
The plan calls for Safeway to provide 129 of its 154 proposed parking spaces as 90-minute public spots. In addition, Safeway agreed to contribute $500,000 for future parking solutions downtown.
The plan requires Safeway to maintain the parking lot at no cost to the city, but provides the grocer with two opt-out clauses. One clause allows Safeway to back out of the agreement, regardless of reason, for $1 million. A second clause enables the grocery chain to withdraw for $500,000 if the city’s parking ratio for parking areas adjacent to the store lot changes.
To that end, Councilman David Casas said he wanted to see a mechanism in place for both clauses so that the buyouts retain their current value in future years.
“If you were to think back 20 years, the value of money wasn’t the same as it is today,” Casas told the Town Crier.
In addition, councilmembers wanted to see a buffer in place – in the form of a percentage or a specific number of spaces – for the yet-to-be-determined parking ratio that could trigger the $500,000 buyout option.
Candace Hathaway, a consultant for Safeway, told the Town Crier that the company agreed with the additions and was already finalizing terms with the city.
The parking agreement and plan for the new store are set to reach the Planning Commission in December, then must return to the city council for final approval.
