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Pleasanton’s Financial Deal with Costco Released

An article published in the Town Square section of Pleasanton Weekly on October 3, 2016
The Pleasanton Citizens for Responsible Growth’s request for documents, under the California Information Act, has finally produced the details of The City of Pleasanton’s negotiations with Costco. An email from Nelson Fialho, City Manager, to Mike Dobrota , Costco Regional Manager, revealed the following:
$7,500,000 – Pleasanton Contribution, borrowing from Costco for 25 years, total with interest $10,067,006
$3,100,000 – Nearon Contribution, ($4,780,000 less credits $1,700,000)
$5,335,000- Pleasanton Contribution from Traffic Impact Fee Reserve Fund

$16,005,000 Total Cost (engineers’ estimates)
$15,402,006 Pleasanton’s Contribution (with interest)

The borrowing and interest amounts were confirmed by Tina Olson, Pleasanton Director of Finance, on May 11 and by Mike Dobrota, Costco, on May 12. There have been no subsequent documents, or changes.

These were not the numbers used in the City Council meeting of April 12. Both the minutes and the audio of the City presentation are missing.

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