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think it will take growth-crazy Dublin to figure this out and try to recapture these sales with their own new Sam's Club or Super Walmart? What about the impacts from the new Ikea? • 5. There is no discussion of the effects that a future recession,which is more likely than not, will have on this project and the rest of the Pleasanton economy? A recession will certainly curtail the growth needed to support the Costco without damaging existing businesses. The assumption of never-ending growth to rationalize this project is foolish at best. 6. The Staff Report for the April 12th meeting states that this project is important to provide diversity to our economy. However, more retail that replaces what little light industrial zoning we have left is not diversity. When all our eggs are in the retail basket our economy is more susceptible to economic downturns. And jobs in light industrial, R&D, and commercial services are better paid,generally have benefits,and provide a much more resilient base to our economy that yet another big box store or fancy strip mall. 7. For the fiscal study,ALH says is relied heavily of the assumptions and methodology of the February 2015 fiscal analysis prepared by Brion &Associates for the developer, Nearon. The fiscal study should be a new, independently developed study that does not use an analysis prepared by the developer. This is further evidence that the ALH study should be peer reviewed. 8. The ALH study concludes that with the best case build out the annual revenue generated by the project of$2.3 million it would represent 2.3%of the roughly$100,000,000 city operating budget. However,since I believe that one of the drivers for this project is to use the revenue to fund future capital improvement projects, the revenue should be compared to the combined • operating and capital improvement budgets (including reserves) of$270,000,000. This results in a percentage of the combined budgets of less than one percent (.85%to be exact). This project is hardly the cash cow it's portrayed to be considering the numerous negative impacts on the community it will have. And this is the best case disregarding the significant problems with the analysis already pointed out! 9. Finally,there is still no information on the proposed City of Pleasanton subsidies for the developer on this project and how those will affect the short-term and long term fiscal benefits to the city. Without this information you cannot make an informed decision on moving forward with this project. I would appreciate a response to the points and questions either prior to or during the workshop on the 12th. Thank you, Matt Sullivan Resident of Pleasanton