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7. Financial Impact of Initiative 7.1. Fiscal Impact of Hillside Developable Parcels Relocated to Other Areas of City Hack o It is estimated that approximately 119 to 224 developable parcels would be moved from the the hillside to other areas of the city if the Initiative information wee a mplement the To determine types f impact from this movement, the following general units that could be built in other areas of the City and for a hillside housing unit was calculated: Table 1 Housing Unit Assumptions: Single Family Hillside Single Multifamily Unit° Detached Unit° Family Unitt't Floor Area: 900 square feet 3,500 square feet 8,500 square $400 $250 $3,40$400 Este Pee Square FVal $225,000 $1,225,000 Estimated Market Value: 2 0 3.0 3.2 Person Per Household:(4 (1) the 3 0 units 213tu 5 units are one bedroom/one bath, 130 are two bedrooms/two t feet baths and 7 are of three bedrooms/three baths. (2) Based on the Ironwood Project 191 units ranging from 1,450 square feet to 5,091 square feet (3)Based on PUD-33: 51 units ranging from 6,058 square feet to 12,500 square feet; capped at 15%floor area for lots greater than one acre. (4)Per State of California Department of Finance as of January 1,2008: 2.753 persons per household in persons Pleasanton. Per U.S. Census: owner per household; per 1996 General Plan:occupied 09 persons pees single family household occupied d 2.052 3 persons p persons per multifamily household. Recent notation of larger households being muRl-generational, hence the increase in person per household for the hillside homes. The fiscal impacts to the City as a result of developing multifamily or single family detached homes,rather than 119 to 224 hillside homes, include: (t)the annual operating revenues and expenditures of the City; and(ii)the initial capital fees (Development II Feesix received by the City at the time of a building permit is development, size(floor area).value of the and expenditures ov events a dry based a the type household. This information is provided in improvements above,,bathe number of type. Development Fees are more Table 1, above, based on housing typo a family or multi-family)• generally based on type of development(e.g• single 't Development Fees collected to fund City projects Dedication Park dication In-Lieu Feliic Facilities for es Fee,Lower Income Housing Fee,Traffic Development Fee,and other fees collected in specific improvements serving those areas. 28