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Comments About the Proposed EDZ Public Notification Process, Community Workshops, and Hearings Dates (Attachment 2 — RTC/FSEIR Master Responses). 2. Local Business Impacts The Economic Impact Analysis (Economic Analysis) prepared by ALH Economics, an urban and regional economics consulting firm under contract to the City, indicates that impacts generated by the JDEDZ on the market area's2 existing retail environment would be limited. The Economic Analysis projects that Phase I sales in the JDEDZ (i.e., the sales resulting from a club retail use and a limited amount of general retail uses) could result in a decrease in annual sales by existing market retailers of approximately $26.7 million, or 0.9 percent of the market area's existing $3 billion in annual retail sales, which is a nominal impact. See the "Fiscal Impact"section of this report (below) for an overview of the anticipated fiscal benefits to the community that could result from the JDEDZ. The proposed JDEDZ's effect on the local economy is projected to be focused in three specific retail categories: gasoline stations, home furnishings and appliances, and food and beverages. In the first two categories (gasoline stations, and home furnishings and appliances), sales within the JDEDZ would amount to a combined 1.1 percent or less of existing market area sales, which would not be considered substantial when spread among the numerous gas stations and home furnishing and appliance stores in the market area. While food and beverage sales within the JDEDZ would amount to 7.4 percent of existing market sales, the new market demand alone generated between now and buildout of the JDEDZ would be sufficient to recompense existing businesses for these potentially diverted sales. Accounting for the fact that sales diverted from existing stores to a club retail use would be widely dispersed among numerous supermarkets, ethnic food stores, and other small food markets (rather than concentrated in a single store or small number of stores), there would be limited effects on existing food and beverage retailers. The Economic Analysis also concludes that the JDEDZ would have no adverse economic effects on downtown businesses, primarily because downtown offers a unique and different shopping environment than a club retailer, and most downtown businesses sell goods that are quite different from those sold at club retailers. On the positive side, the economic study also notes that a Costco could generate enhanced visibility to existing businesses in the proposed JDEDZ, benefits associated with local availability of low-cost food and gas, and possible long-term increases in property values. Please refer to the Master Response to Comments About Economic and Urban Decay Impacts for more detail (Attachment 2 — RTC/FSEIR Master Responses) and the Economic Impact Analysis (Attachment 3 — Economic Impact Analysis, Executive Summary). 2 The"market area" for this study comprises 18 full census tracts and three partial census tracts spanning the City of Pleasanton, the majority of the City of Dublin, and some unincorporated Alameda County areas south of the City of Pleasanton and northwest of the City of Dublin. The market area was determined through review of drive times to the project site and the locations of other nearby club retail stores, with consideration also given to natural and man-made features, such as topography and freeway access. Page 4 of 10