Officials with Palo Alto and Stanford University Medical Center continue to haggle over the proposed expansion at Stanford.
City council members at a study session said they wanted a guarantee that the proposed medical center expansion will create enough revenue to cover the cost of city services, the Palo Alto Daily News reports.
"We need to make sure that revenues will actually be there, because the expenses are going to be there," Council Member Pat Burt said Monday.
Stanford officials are resisting the demand for a guarantee. Bill Phillips, Stanford senior associate vice president of land, buildings and real estate, said Stanford would not necessarily agree to a guarantee.
Under a new development agreement, revenues generated from tax dollars related to construction would go to Palo Alto. Stanford also has offered to pay the city a $1.1 million lump sum, the amount of money the project could cost Palo Alto over 30 years.
The 1.3 million-square-foot project would take 15 years to finish and would help the medical center meet seismic safety standards. The development project could get a go-ahead as soon as April, the Palo Alto Patch reports.
To learn more:
- here's the Palo Alto Daily News story
- read the Palo Alto Patch story
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