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13 <br /> THE CITY OF <br /> pL£ASANTONe CITY COUNCIL AGENDA REPORT <br /> June 19, 2012 <br /> Finance <br /> TITLE: APPROVAL OF CONTRACT WITH ECONOMIC & PLANNING <br /> SYSTEMS FOR FISCAL IMPACT ANALYSIS OF THE GENERAL PLAN <br /> AND HOUSING ELEMENT UPDATES <br /> SUMMARY <br /> With the adoption of the General Plan and the Updated Housing Element, the City is <br /> desirous of having a fiscal impact analysis completed. The purpose of the fiscal impact <br /> analysis is to estimate the impact of future development on the costs of providing City <br /> services to the future development as compared to the tax revenues generated by the <br /> future development. The analysis is generally based on the fiscal characteristics of the <br /> community— e.g., revenues, expenditures, land values—and the characteristics of the <br /> future development based on land use designations in the General Plan—e.g., type of <br /> land use, distance from existing public facilities. The analysis will enable the City to <br /> estimate the difference between the costs of providing services to future development <br /> and the revenues—taxes and user fees, for example—that will be generated by the <br /> development. It will also help the City determine if the City's current fiscal balance <br /> (revenues equal expenditures) is sustainable through build-out of the City. <br /> In light of this, staff circulated a request for proposal (RFP) for these services and <br /> received proposals from four firms. Based on an evaluation of the responses which <br /> included interviews, staff has identified Economic & Planning Systems, Inc. (EPS) of <br /> Berkeley, California as the most qualified proposer. Staff is recommending EPS be <br /> awarded a professional contract for these services. <br /> RECOMMENDATION <br /> Staff recommends the City Council authorize the City Manager to execute the <br /> agreement with Economic & Planning Systems, Inc. for the preparation of a fiscal <br /> impact analysis based on the land use data contained in its General Plan and Housing <br /> Element Updates for an amount not to exceed $49,100. The agreement is included as <br /> Attachment 1. <br /> FINANCIAL STATEMENT <br /> The cost of the fiscal impact analysis will be billed on a time and materials basis not to <br /> exceed $49,100. The funds for this contract in 12/13FY will come from the General <br /> Fund Contingency ($24,550) and the Low Income Housing Fund ($24,550). <br />