Menlo Park mayor, Facebook officials smiling over terms of draft agreement
Menlo Park, posted by Editor, The Almanac Online, on Apr 13, 2012 at 12:30 pm
Expanded version: Both Facebook and Menlo Park officials say they are happy with the terms of an agreement the two have come up with that will allow Facebook to have as many as 6,600 employees on its current campus. The agreement is scheduled for a vote by the Menlo Park City Council when it meets next Tuesday at 7 p.m. in the Menlo Park City Council Chambers, 701 Laurel St.
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Web Link posted Thursday, April 12, 2012, 6:24 PM
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Posted by curious, a resident of the Menlo Park: Central Menlo Park neighborhood, on Apr 13, 2012 at 12:30 pm
What happens after year 15? Does Facebook keep paying in lieu? If not, do they have to reduce number of employees to below the cap?
Posted by answer to curious, a resident of the Portola Valley: Ladera neighborhood, on Apr 13, 2012 at 2:03 pm
after year 15...
The payments would be $800,000 per year for years one to five; $900,000 per year for years six to 10; $1,000,000 per year for years 11 to 15;
and then adjusted annually above $1,000,000 based on changes in the Consumer Price Index (CPI) for the remaining years.
So with that kind of money, do we have to wait 3 years to fix the intersections around our high school??
Posted by Steve, a resident of the Menlo Park: Sharon Heights neighborhood, on Apr 14, 2012 at 9:24 am
"So with that kind of money, do we have to wait 3 years to fix the intersections around our high school??"
Because we pay the city manager a quarter of a million dollars a year and there are many city employees that make six figures or more. Add to that the ridiculously high pension benefits...
We need to be prudent with our money and stop the wasteful spending.
Posted by truth, a resident of the Menlo Park: Belle Haven neighborhood, on Apr 15, 2012 at 7:10 pm
Steve, thanks for the value add. Take the tea party garbage back to Alaska where you can see Russia from your house.
Posted by Joanna, a resident of the Menlo Park: Downtown neighborhood, on Apr 15, 2012 at 7:11 pm
You will never win the supervisor seat... or anything you ever run for again.
Posted by truth, a resident of the Menlo Park: Belle Haven neighborhood, on Apr 16, 2012 at 1:21 am
I don't even understand the comment. Are you assuming I am an elected? Hilarious.