May 20, 2004

NEWS BRIEFS

Fairgrounds theater project is a go
Board of Supervisors approves bond financing and lease agreement for County Fairgrounds Theater

The County of Santa Clara Board of Supervisors voted unanimously Monday to move forward with the development of the County Fairgrounds Theater. The approval, which follows weeks of public debate and discussion about the merits of the project, clears the way for the County to issue bonds for the project. Construction of the Theater may begin this fall.

“I am very disheartened by the ‘chicken-little’ attitude that the sky will fall, if this project goes forward,” said Supervisor Blanca Alvarado, Board of Supervisors who also is Chair of the Silicon Valley Theater Financing Corporation. “This project has enormous potential to enhance an underutilized public asset, provide revenue for much needed public services, and upgrade a severely blighted area of San Jose.”

Based on preliminary projections, the County could realize between $150-$200 million in revenue over the life of the 30-year bond financing, with the Theater generating income as early as the sixth year of operation.
The Silicon Valley Theater Financing Corporation will oversee the issuance of bonds, enter into the development agreement, and set up an operating agreement with the House of Blues.

The preliminary cost estimate for the Theater development is $58 million and will be funded through private sector bonds. The bond debt, operator’s fees and all other costs will be paid through revenues and not through taxpayer dollars.

Three separate market feasibility studies were conducted for the Fairgrounds Theater, including two by JB Research Company (in 1998 and 2002) that showed strong market demand. In 2003, independent financial consultant Economics Research Associates (ERA) was hired and, after months of concert industry review and analysis, confirmed the financial viability of the concert hall. The financial projections were updated and validated again by ERA in a report to the Board on May 4.

“Unlike a private business, whose principal motive is profits, governments use society’s resources for the public good,” said Supervisor Pete McHugh, Chair of the County of Santa Clara Board of Supervisors. “Ultimately, it is not about money.”

The House of Blues Theater will be built on 10 acres at the southwest corner of the Fairgrounds at Monterey Highway and Umbarger Road. The theater project includes the 7,000-seat indoor Theater along with three acres of outdoor plaza area. The Theater is one component of the Fairgrounds Revitalization Project to develop the 200-acre property into a community asset. Other revitalization elements include a new Expo Center, a community recreation facility, a major 50,000+ sq. ft. health clinic - opening this summer, and a 360-unit housing project, of which more than 80 percent is affordable housing.

“The County has a vision for the Fairgrounds that includes housing, an expo center, a recreational facility, a health center and concert theater,” said Supervisor Don Gage, County of Santa Clara Board of Supervisors and representative on the Silicon Valley Theater Financing Corporation. “This project will benefit the entire community.”
The Board also directed staff to explore the feasibility of locating a soccer stadium elsewhere on the site, or on a 15-acre County-owned parcel across from the Fairgrounds.

Youth Science Institute hosts Annual Insect Fair May 29
Touch a tarantula — watch a silkworm caterpillar spin silk

They have six legs, three body parts and are always small. There are more insects on earth than all other creatures combined. They are also fascinating and the Youth Science Institute invites the public to come out and learn about the adaptation and metamorphosis of these arthropods at their Annual Insect Fair on May 29.
Hold a cockroach and other fun hands-on activities, enjoy arts and crafts, face painting, food booths, educational exhibits, specimens, and fascinating guest lecturers. You can even discover which insects might be sharing you home!

The fair will be held Saturday, May 29 from 10 a.m. – 4 p.m. at theYouth Science Institute, at Sanborn Park. Parking fee per vehicle is $4. The event is free with Family membership but suggested donation is $1 per child and $3 per adults. Call (408)356-4945 or visit www.ysi-ca.org for more information.

Skate-A-Thon to bring awareness to Sudden Cardiac Arrest

A Saratoga High School student and cardiologist’s daughter, Margaret Wang, 15, wanted to make the public more aware of sudden cardiac arrest and the importance of automatic external defibrillators (AEDs). A transplant from Boston, where skate-a-thons are popular fundraisers, Wang is using the same technique to raise money for the Arrythmia Society and the American Heart Association, according to San Jose resident Anita Grogan, whose husband, Jack Grogan, “died” of sudden cardiac arrest on a 2002 airline flight before an AED revived him.

The skate-a-thon takes place May 22 from 2 to 4 p.m. at Belmont Iceland, 815 Old County Road in Belmont. Campbell resident Kathleen Davey, wife of SHS basketball coach Mike Davey and a mother of two, is also a beneficiary. Davey has been in a coma since suffering sudden cardiac arrest this January. Several cardiac arrest survivors will be present, with Jack Grogan and Wang serving as announcers. Information and AED demonstrations will also be available.

Mark your calendar for this Saturday: Library/Community Center groundbreaking and Glenview Park Tot Lot grand opening

On May 22, the city will host a groundbreaking at the new joint Almaden Branch Library & Community Center at 11 a.m. on Camden Avenue. Following that event the city will be hosting a community celebration at Glenview Park to celebrate the re-opening of the Children’s Play Lot at the park.

The program includes a ribbon cutting for the new play lot, face painting for children, and a short program including Vice Mayor Dando and Williams School Principal Sue Walker.

Glenview Park is located at McCall Drive & Valley Quail Circle, behind Williams School and the event will be from 12:30 p.m. - 1:30 p.m.