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Ellen Clark July 28, 2022 Page 2 To establish market demand potential, EPS will research local and regional growth factors, demographic and employment trends, real estate development patterns, and real estate pricing and absorption considerations. EPS also will evaluate the pipeline for competitive development, considering market orientation, product formats, and other project attributes. Finally, EPS will provide information on long-term trends in retail sector, particularly for regional malls, and how other locations and projects have sought to successfully repositioning these assets. Task 3: Development Feasibility EPS will take on an advisory role regarding the development feasibility associated with various land use programs proposed by the City. The firm will be using a high-level approach to assemble key considerations as well as identifying potential issues the City and landowners may face when developing the site. EPS will provide professional expertise on inclusionary housing and mixed-use development and how they would impact feasibility. Task 4: Infrastructure Financing EPS will draw on its breadth of experience to array the possible combination of instruments and make financing strategy recommendations given the forecast financial parameters of the site. A set of financing mechanisms will be recommended to fund these costs. These mechanisms may include an "area development impact fee", a Mello Roos Community Facilities District, assessment district(s), "incentive zoning"-related developer contributions, and other mechanisms, as identified. The infrastructure costs will be assigned to these mechanisms to explore financial capacity and feasibility constraints. Task 5: Meetings and Presentations This task includes ongoing project management and regular coordination with the City team and the planning firm. The proposed budget includes up to six (6) team coordination meetings, which could be some combination of landowner/City/consultant(s) or City/consultant(s). We have also included up to four (4) public meetings in the budget. The budget for the public meetings includes preparation time as well as attendance and participation at each meeting. Additional team coordination and/or public meetings can be accommodated and will be billed on a time and materials basis. Additional public meetings are estimated to cost approximately $2,000 each Optional Tasks EPS will be available to assist with this process as issues arise. If the City is interested in implementing some of the tools and or policies discussed, such as setting up an impact fee or providing a detailed inclusionary housing analysis, EPS would be able to submit a separate scope breaking down the tasks necessary to complete the additional work. Schedule and Budget We estimate the budget required for the work program outlined above, excluding the optional tasks, could be completed for $55,090, as shown below on Table 1. As always, we are happy to discuss ways to modify the scope and budget to better meet your needs and resources. EPS bills clients only for time spent on projects as such the budget estimate represents a "not-to- exceed" amount for the work described. The project is expected to be completed in approximately 6 months, with key meetings and other project junctures to be determined in conjunction with client needs. To the extent additional meetings and analysis are necessary, a supplemental scope and budget will be prepared. Z:1Shared\ProposalslOakland\221000s1221060__StoneridgeMallFramework\221060 Scope.docx