Laserfiche WebLink
4. DOWNTOWN BEAUTIFICATION IMPROVEMENTS <br /> The downtown beautification portion of the fee covers a number of improvements to the <br /> downtown core. These improvements are envisioned to enhance the safety, historic character, <br /> and aesthetics of the area that will benefit the residents, businesses, and visitors. Specifically, <br /> the City has identified the following improvements that will enhance the safety, historic <br /> character, and aesthetics of the area: <br /> • Peters Avenue and First Street Pedestrian Safety Improvements <br /> • Neal Street and Angela Street Streetscape Enhancements <br /> • Downtown Gateways <br /> • Main Street Color Bowl Replacement <br /> Cost Estimates and Allocation Assumptions <br /> This analysis assumes that both residential and nonresidential development will pay a downtown <br /> beautification impact fee given downtown's central role at the City's primary civic, cultural, and <br /> economic node. The portion of the cost allocated to new development is based on growth in the <br /> City's service population relative to the City's future service population. The City of Pleasanton is <br /> anticipating that the service population of the City will increase by 17 percent of the future <br /> buildout service population and this factor used to allocate costs to new growth at buildout (see <br /> Table 3). <br /> Total downtown beautification cost amounts to $3.7 million. As shown on Table 13, the cost <br /> allocated to new development and included in the DIF program is about $640,000. <br /> Table 13 Downtown Beautification Improvements Cost <br /> Item Total Source <br /> Total Cost(1) $3,720,000 <br /> New Development <br /> Share Allocation (2) 17% Table 3 <br /> New Development Share (rounded) $639,500 <br /> Existing Development <br /> Share Allocation (2) 83% Table 3 <br /> Existing Development Share (rounded) $3,080,000 <br /> (1)Reflects an unfunded City obligation over the next 20-year period; estimated by City staff; rounded. <br /> (2)Based on the allocation between new and existing development at buildout;this analysis assumes <br /> that all new park space will equally serve new and existing city residents and employees.As a result, <br /> the costs are allocated based on existing and new development shares. <br /> Development impact fees cannot be used to fund the share of cost attributed to existing development. <br /> Economic&Planning Systems, Inc. 16 P.r\151000s\151111PleasantonFee‘Report\151111_FeeNexus_042318.docx <br />