Go for it. We're eager to see it happen. Go for it.
As part of the final agreement, Apple has agreed to a reduction in the sales tax rebate the city gives the company annually. Instead of the 50 percent sales tax rebate that Cupertino gave the company in 2012, it will now refund only 35 percent to Apple. Last year, of the $12.7 million in sales tax the company generated for the city of Cupertino, the city refunded $6.2 million, according to the Los Angeles Times.
The city council had given its initial approval to the project in October. However, Tuesday night's note was a second "technical" one designed to make the approval official. It was considered a formality.
Phase 1 of the Campus 2 "spaceship" construction is scheduled to be completed by late 2016. It will include the 2.8 million square foot ring-shaped main building that many have compared to a flying saucer, with an underground parking facility capable of accommodating approximately 2,400 vehicles.
A 100,000 square foot fitness center and a 120,000 square foot auditorium -- seen as the future site of Apple's huge press events -- will also be built.
A second phase of construction will include 600,000 square feet worth of additional parking and energy generation facilities, along with more office and R&D facilities.
The new campus was first referred to as a "spaceship" by late Apple co-founder Steve Jobs himself back in 2011. It is expected to accommodate over 14,000 employees.