- Over the last 25 years, numerous public meetings have been held to plan the future of the North 40 property.
- Since the Town’s specific planning process started in 2009 there have been 36 public community meetings to discuss every aspect of the plan.
- Community members were invited to participate throughout the process, and their valuable and diverse feedback helped shape the plan that is now being considered by the Town Council.
- The development team has had dozens of meetings in recent years with the school districts, trustees, and parent organizations and reached an unprecedented, volunteer financial/land agreement to help support the entire school district.
- $1.5 Million estimated in developer fees to the Los Gatos School Districts.
- $1.9 million every year for schools — of this $1.6 million annually will benefit Los Gatos’ already-strong public schools without raising taxes on homeowners.
- More than $12 million will be spent on transportation improvements along the North 40 frontage to ensure the plan functions within the current roadway flow.
- More than $5 million will be spent by the North 40 developers on traffic improvements that are on the Town’s Traffic Improvement Plan that are unrelated to the North 40 development. These are needed improvements to existing traffic challenges that would not otherwise be funded.
- Bike lanes, sidewalks and multi-use paths are proposed in and around the development to encourage car-alternative transportation. The development team has also worked with local agencies on a plan to stripe bicycle lanes from the North 40 to the Los Gatos Creek Trail entrance on Lark Avenue to help serve the existing neighborhoods and connect the northern part of Town to downtown.
Retail Options and Complementing Downtown
- Retail at the North 40 will offer residents in the north part of town a place to shop and dine within Los Gatos — keeping their tax dollars at home as an alternative to Campbell and San Jose, and offering new options and choices.
- According to the Town’s economic impact analysis, Los Gatos residents now spend almost $80 million dollars every year shopping outside of town for general merchandise and other items that can’t be found locally. The North 40 will help keep more of those retail sales tax dollars — and people — at home.
Supporting the Local Economy
- Once built, this project will create hundreds of jobs and generate millions of dollars every year to support Los Gatos’ schools, town services and transportation improvements, as well as provide a variety of residential options.
- Over $2 million net every year for the Town — the Los Gatos town budget and local services will be bolstered thanks to new tax revenue and developer fees. The North 40 plan will financially support local community services, and it won’t raise taxes on existing property owners.