East Bay’s next Costco moves another step forward


PLEASANTON — Plans for a Costco store here moved a step forward this week when the City Council gave final approval to rezoning a 40-acre site to accommodate the store, two hotels and other businesses.

Meanwhile, a group called Pleasanton Citizens for Responsible Growth continues to collect signatures in hopes of qualifying a Pleasanton referendum ballot measure aimed at rescinding the City Council’s approval.

The council vote Tuesday was 4-0 to approve rezoning and create an economic development zone in the area along Johnson Drive near the intersection of Interstates 680 and 580. Mayor Jerry Thorne has abstained from voting on the project because he once held an investment in Costco.

Costco critics say Pleasanton is subsidizing the big corporation by sharing future sales tax revenues from the store with Costco to fund road improvements. City officials say the tax sharing is a reasonable way of helping fund the Costco project that will generate a net gain of sales tax revenues for the city.

The economic development zone provides rules for what can be developed in on the site. Pleasanton voters last year rejected an initiative ballot measure that would have prohibited big-box stores in the zone.

Costco has some 741 warehouses stores worldwide, including outlets in Danville and Livermore.

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Source:: The Mercury News

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