FYI FYI (January 28, 2004)

DOWNTOWN STATS . . . Palo Alto's downtown shopping area is economically stable, according to an annual report recently completed by the city's planning division. The report monitored downtown real-estate conditions, tracking vacancy rates, changes in floor area and parking conditions from September 2002 to August 2003. Overall vacancy has decreased from 2002, although ground-floor retail space shows a slight increase. Rental rates haven't changed from 2002. Office rents range from $2.25 to $5.75 per square foot, with the high end of the range showing a decline from 2000 economic conditions; lower-range rents have remained stable.

Retail trends indicate a steady increase in eating and drinking establishments, which the report says positions Palo Alto as an entertainment destination for the sub-region. Retail vacancy is at 4.7 percent. In addition, more than 700 new parking spaces in recently constructed garages support an entertainment-based retail mix. The complete report is available at www.cityofpaloalto.org/manager. Click on "CMRs" and then "CMR 128-04."

MIDTOWN OPENINGS . . . The Como Esta? taqueria in Midtown is finally opening Thursday, Jan. 29 after three months of permit delays, according to Ani Safavi, owner of the Mexican restaurant. The eatery on Middlefield Road shares space with the Midtown Walgreens and will serve up chile rellenos, homemade tamales and more Monday through Saturday.

Also this month, Midtown welcomed two clothing retailers -- Territory Ahead and TravelSmith -- to 2741 Middlefield Road, the space formerly occupied by knOwhere and, before that, Bergmann's. Both companies sell their merchandise primarily through catalogs. The outlets will be open Wednesday through Sunday, 10 a.m.-6 p.m. Call Territory Ahead at (650) 330-1545 and TravelSmith at (650) 329-8066.

GOT $250K? . . . Community Foundation Silicon Valley has been tapped by The Citigroup Private Bank to provide philanthropic services and support for the firm's new donor-advised fund, company officials have announced. The Meaningful Assets Fund is designed to help the bank's high-net-worth clients worldwide "integrate their philanthropic planning into their financial and life planning," according to Peter Hero, president of CFSV, which has offices in Palo Alto and San Jose.

Philanthropic advisors will work one-on-one with donors to help them develop their giving plans, identify potential charitable entities and evaluate the impact of major grants. A minimum contribution of $250,000 is required to establish a Meaningful Assets donor-advised fund.

The foundation currently has more than $500 million in assets, and last year, gave $65 million in grants. For information about the CFSV, visit www.cfsv.org.
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