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Fund expenditures. In addition, a financing plan has been developed for the transportation improvements needed to support the JDEDZ that would utilize a sales tax sharing agreement. This agreement would allow the City to collect substantial sales taxes from Costco while undertaking major transportation improvements with area-wide benefits. RECOMMENDATION Staff recommends that the City Council: 1. Adopt a resolution certifying the RFSEIR (Attachment 1). 2. Adopt a resolution approving P14-0852, a General Plan Amendment to change the land use designations 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. Introduce 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, uses list and JDEDZ Development Standards and Design Guidelines dated March 2017. 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 March 21, 2016 Final Supplemental Environmental Impact Report (FSEIR) (see Attachment 2), recirculated again in July 2019, and is available using this link: http://www.cityofpleasantonca.gov/jdedz The fiscal impact analysis results indicate on a worst-case basis, assuming all diverted sales (i.e., sales accruing to Costco 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 Costco 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 1.7 percent to 1.9 percent of the City's General Fund expenditures. Page 2 of 23