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Fiscal Analysis for the Staples Ranch Development Project
<br />October 25, 2007
<br />Page 2
<br />The land uses identified in the MOU are:
<br />^ an auto mall (37 acres) that could include up to 331,000 square feet of buildings and 3,270
<br />parking stalls. The auto mall would provide an expansion opportunity for existing Pleasanton
<br />auto dealerships, including (for example) Lexus, BMW, Acura, Volvo, Infiniti, Mini, and Mer-
<br />cedes-Benz.
<br />^ aState-licensed continuing care facility (46.1 acres) that could comprise up to 1.4 million
<br />square feet of building space. This space is expected to accommodate 637 duet and multi-
<br />family housing units; a health center for residents in assisted living, skilled nursing and
<br />memory loss facilities (113 beds in 71 units); and a common area for offices, dining, and rec-
<br />reational amenities.
<br />^ a community park (17 acres), which is expected to accommodate an ice rink (estimated size
<br />of 138,000 square feet), lighted sports fields including tennis courts.
<br />^ a 5t acre neighborhood park.
<br />^ an 11-acre area, owned by Fremont Land, designated for other commercial uses. The current
<br />proposal for this site anticipates the construction of 115,640 square feet of commercial
<br />space, including a grocery store (30,000 square feet), a drug store (18,000 square feet), a res-
<br />taurant (12,000 square feet), a bank (5,000 square feet), and an array of other retail shops,
<br />restaurants, and coffee shops. The proposal allows for ultimate expansion to 120,000 square
<br />feet of building space.
<br />^ Connection of Stoneridge Drive to provide access to the community park and the continuing
<br />care facility, and Auto Mall Place for access to the auto mall, the Fremont Land site, and the
<br />ice facility.
<br />The Scope of Fiscal Analysis
<br />The City of Pleasanton is interested in a fiscal impacts of this project on the City. Fiscal impacts
<br />are the effects of a project - in this case, the proposed development of Staples Ranch - on the
<br />City's general fund. Typically, fiscal impact analysis is defined by the following guidelines:
<br />^ Focus on one public agenry. Each public agency has its own budget: revenues collected and
<br />costs incurred by one agency do not affect those of the others (although the same factors
<br />may affect costs and revenues in more than one agency). This analysis would focus on the
<br />City of Pleasanton. It would not, therefore, consider revenues and costs of other agencies that
<br />deliver services to city residents, such as Alameda County or the Pleasanton Unified School District.
<br />^ Focus on operating costs and revenues. Operating costs are the annually-recurring costs of
<br />providing public services, such as general city administration, public safety, community
<br />development, street maintenance, and recreation. Typically, they cover staff salaries and
<br />benefits, office supplies, vehicle operating expenses (fuel, insurance, maintenance), mainte-
<br />nance of City facilities and infrastructure, and smaller items of equipment (those intended to
<br />be used for up to three years).
<br />Operating revenues are the funds that are collected on an ongoing or recurring basis; they
<br />include taxes, license and permit fees, funds received from the state and federal government,
<br />and others. These funds are not earmarked for any particular use; instead, they are collected
<br />in the General Fund, and the City allocates them as it sees fit to cover the operating costs of
<br />public safety, public works, general government, recreation, and other services.
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