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RECOMMENDATION Staff recommends that the City Council: 1. Adopt a resolution certifying the FSEIR (Attachment 1). 2. Adopt a resolution approving P14-0852, a General Plan Amendment to change the land use designation of the project site from Business Park (Industrial/Commercial and Office) and General and Limited Industrial to Retail/Highway/Service Commercial; Business and Professional Offices (Attachment 3). 3. Adopt an ordinance approving PUD -105, a Planned Unit Development (PUD) Rezoning of the project site from Planned Unit Development -General and Light Industrial (PUD-G&LI) District, Planned Unit Development-Industrial/Commercial- Office (PUD-I/C-O) District, and General Industrial (I -G-40,000) District to Planned Unit Development — Commercial (PUD -C) District (Attachment 4), subject to the recommended conditions of approval. 4. Adopt a resolution approving the City's intent to adopt a JDEDZ Transportation Fee (Attachment 10). FINANCIAL STATEMENT ALH Economics, an urban and regional economic consulting firm under contract to the City, prepared a fiscal impact analysis of the JDEDZ based upon the methodology and assumptions included in a fiscal impact study prepared for the JDEDZ in February 2015. The complete fiscal analysis is part of the Economic Analysis, which was included as Appendix A of the FSEIR (see Attachment 2; previously distributed to the City Council), and is available using this link: www.cityofpleasantonca.gov/JDEDZ The earlier study was updated to take into account the City's Fiscal Year 2015/16 budget, as well as operating characteristics specific to the JDEDZ, such as likely taxable sales and sales that could be diverted from existing businesses in the market area. The fiscal impact analysis results indicate that on a worst-case basis, assuming that all diverted sales (i.e., sales accruing to the club retail use as opposed to existing retailers in the area) are diverted from Pleasanton retailers (as opposed to retailers outside of Pleasanton), the JDEDZ is anticipated to generate a projected $1.4 to $1.7 million annual contribution to the City's General Fund at the completion of the first phase (which includes the club retail and hotel uses). This net revenue estimate increases to $2.1 to $2.3 million annually upon full buildout of the JDEDZ. At full buildout these net fiscal revenues represent an annual contribution equivalent to approximately 2.1 percent to 2.3 percent of the City's General Fund expenditures. Page 2 of 22