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` .I <br /> (Th \. <br /> 1, <br /> MEMORANDUM <br /> 1'I <br /> 1 1 To: City of Pleasanton <br /> From: Jason Moody and Michael Nimon <br /> is <br /> Subject: EPSP Economic Feasibility Analysis; EPS #121090 <br /> t I Date: May 29, 2014 <br /> I - <br /> The E,t,wmi.•y�jland 1[.'.P This memorandum evaluates the economic feasibility of the East <br /> ! t Pleasanton Specific Plan (EPSP) under several development alternatives, <br /> as discussed with City staff and land owners/developers. it is designed <br /> / to inform the planning process-and help en"sure'that the ultimate land <br /> �..0 j -use program-can be-economically feasible as a private real estate <br /> t investment. <br /> �'' " Based on direction from City staff, the following five development <br /> alternatives are evaluated: <br /> • Single-family Alternatives 1 — 4: Alternatives 1 through 4 test the <br /> r r feasibility of various levels of market-rate single-family detached <br /> / units assumed to range in density between 4 and'11 dwelling units <br /> per acre. The alternatives include 500, 800, 1,000, and 1,300 <br /> single-family units, respectively. All units are assumed to be subject <br /> / to an average affordable housing fee of A20_,000 per unit and assume <br /> /' a 20 percent affordability requirement on for-sale units. This fee <br /> level exceeds the current affordable housing fee of$10,713 for units <br /> st over 1,500 square feet by 87 percent.1 <br /> f <br /> &rnwmk&Planningsystcros,Inc 1 The City plans to conduct a comprehensive development impact fee update <br /> One Kaiser rraze,sure 1410 in 2015. A nexus study In 2013 on affordable housing fees identified a <br /> Oakkn0,CA 94612 <br /> 510 841 9190 tel maximum fee ranging between $23,400 and $34,400 per unit but no new fee <br /> 510 740 2080 fax has been adopted by the City. A potential fee Increase in other development <br /> impact fees is not included in this analysis, assuming theProject would be <br /> (---\ wawa ' exempted from potential fee Increases. <br /> sacamento <br /> Denver <br /> Dos Angeles <br /> wwwasyscent <br />