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for these potentially diverted sales. Accounting for the fact that sales diverted from <br /> existing stores to a club retail use would be widely dispersed among numerous <br /> supermarkets, ethnic food stores, and other small food markets (rather than <br /> concentrated in a single store or small number of stores), there would be limited effects <br /> on existing food and beverage retailers. <br /> The Economic Analysis also concludes the JDEDZ would have no adverse economic <br /> effects on downtown businesses, primarily because downtown offers a unique and <br /> different shopping environment than a club retailer, and most downtown businesses sell <br /> goods that are quite different from those sold at club retailers. On the positive side, the <br /> economic study also notes a Costco could generate enhanced visibility for existing <br /> businesses in the proposed JDEDZ, benefits associated with local availability of low- <br /> cost food and gas, and possible long-term increases in property values. Please refer to <br /> the Master Response to Comments in the FSEIR regarding Economic and Urban Decay <br /> impacts and the Economic Impact Analysis. <br /> Timing & Funding of Traffic Mitigation Measures <br /> The most recent estimated cost of the transportation mitigations required to support <br /> JDEDZ development (Project costs) is between $23.1 million and $25.3 million3, <br /> including design, construction and right-of-way (ROW) acquisition. The estimated cost <br /> to construct the improvements transportation mitigations is expressed as a range <br /> because the ROW appraisals have not yet been completed. The recent cost estimate is <br /> $1.6 million to $3.8 million greater than the cost estimate prepared in 2017. Actual <br /> Project costs will be known once the City has acquired all of the ROW and project has <br /> been bid and constructed. <br /> Per the City's agreement with Costco, funding of the transportation improvements would <br /> be generally split into thirds between with the City, Costco, and future development in <br /> the JDEDZ. The increased Project costs would be similarly shared. The following is a <br /> description of the Project cost sharing based on 2017 Project cost estimates: <br /> • City TIF Funding. The Stoneridge Drive and 1-680 onramp project has been <br /> included in the City's Transportation Impact Fee (TIF) since 1998 and is eligible to <br /> receive approximately $7.4 million in TIF revenues. The City's FY 2017/18 through <br /> 2020/21 Capital Improvement Program (CIP) allocated $6,400,000 in TIF in Fiscal <br /> Year 2018/19 for the Stoneridge Drive and 1-680 onramp project. Thus, there is an <br /> additional $1 million in TIF funds that the City could allocate to the project. In <br /> addition, the City can utilize the Dublin Freeway Reimbursement Reserve and the <br /> Dougherty Valley Mitigation Reserve to fund the City's portion of increased project <br /> costs. Both of these reserves are City discretionary transportation funds. <br /> The cost estimation for these mitigations identified in the DSEIR does not include the Tri Valley <br /> Transportation Fee payment, which is necessary to mitigate the impact to 1-680. <br /> Page 18 of 23 <br />