from the Business Journal
The city of Santa Clara could eventually reap more than $22 million a year from a massive mixed-use complex on what is now a city-owned landfill and BMX track a short hop from almost-complete Levi’s Stadium. But developer Related Californiafirst needs more time to work through complicated pre-development issues.
The Santa Clara City Council on Tuesday will consider extending its negotiating agreement with Related until at least March of 2016, as Related and city staff work on the engineering, environmental and design of what is perhaps the most ambitious project in Silicon Valley outside of Apple’s spaceship.
The current negotiating agreement, entered into in April 2013, would have expired this October. The city is also adding detail to a “term sheet,” approved in February, that lays out the basics of the financial deal.
But just who is the deal with???
Not everyone in the massive real estate market collapse went their own way
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What Related has not told Santa Clara is that another company is behind some of this
In the basic scenario, one corporating serves as the front for others
What Santa Clara does not know is the role of Centerline Holding in all of this
No one has explained the multiple financing complexities set up by Stephen Ross
No if Centerline really has the money to pull it off
Remember Snowmass Village?
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