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ALH Urban & Regional Economics This quantitative analysis will be paired with tours of the relevant morket area stores and shopping districts. The purpose of the tours will be to identify relative retail niches, to generally assess the nature and strength of their operations as well as their potential competitive overlap with club retail store, and to qualitatively assess the degree to which the Project may compete with existing stores and the associated level of soles losses that may be experienced by these types of stores. Competitive facilities will be identified through personal knowledge of the market area, review of existing documents, Internet research, and field research. This analysis will also evaluate the potential for stores outside the market area to experience sales impacts associated with the Project. These would be stores physically located outside the boundaries of the market area but which might experience sales declines due to shifting consumer and construction professional shopping patterns. This will be conducted using qualitative analysis, but with some consideration of projected growth outside the boundaries of the Project's market area. Task 1.8. Cumulative Impacts Analysis. In addition to examining the impact of the Project, the analysis will also consider the cumulative impacts of this development in association with other new development projects under construction or planned in the market area or surrounding area, os relevant. This analysis will include projects known to the City and other market area jurisdictions (as applicable) for which entitlement applications hove been submitted. Thus, projects with o reasonable expectation of being developed during or shortly after the timefrome of the Project will be incorporated into the analysis. ALH Economics will additionally coordinate with ESA and the Project's traffic consultant to ensure the use of common assumptions regording planned projects. The preceding store impact findings will be augmented through sensitivity analysis to include these projects. Task 1.9. Hotel Analysis. For the geographic area deemed most relevant to the Project pursuant to the Task 1.6 reconnoissonce, ALH Economics will obtain third party research regarding historic and current hotel market performance. This will include information on average daily room rates, number of rooms, and overage occupancy rates. These data will be obtained from Smith Travel Research, which will feature aggregated market statistics for all identified hotels. ALH Economics will select the hotels to be included in this report, based on several factors, including proximity to the Project and comparability. This information will provide current performance statistics for the competitive hotel market. ALH Economics will research and identify any other prospective planned hotel facilities in the area deemed most relevant to the Project. Information on the cumulative supply will be collected, including anticipated timing, flog, number of rooms, and meeting space. ALH Economics will assess the overall market impact of the Project's added supply of hotel rooms. A parallel analysis will be conducted for any identified cumulative supply. This market impact will be measured by the estimated change in the average occupancy of the aggregated set of existing competitive facilities pursuant to the operation of the Project and any identified cumulative supply. This analysis will be complemented by identification and review of key demographic and economic indicators tied to hotel occupancy, such as area employment (existing and projected) and demographic growth. The result of this task will be an assessment regarding the market impacts attributable to the Project and cumulative supply. PAGE &