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ATTACHMENT 13 <br />ko s on <br />companies <br />Memorandum <br />CONFIDI:N"I'IAL tic I'RTVILEGED <br />WORK PRODLiC'I' <br />To: Peter Knoedler; Vice President of Investments -Regency Centers <br />From: Larry J. Kosmont; President & CEO -Kosmont Companies <br />Harpal Sadhal; Vice President -Kosmont Companies <br />Date: October 8, 2007 <br />Subject: Evaluation of Pleasanton <br />City of Pleasanton and <br />Permanent Job Creation <br />Gateway Project Fiscal Impact Analysis by the <br />Estimation of Local Economic Impacts and <br />INTRODUCTION <br />Background <br />Regency Centers ("Client" or "Regency") has retained Kosmont Companies ("Kosmont" <br />or "Consultant") to evaluate conclusions of a Fiscal Impact Analysis ("City Analysis") <br />drafted by the City of Pleasanton ("City") for the proposed Pleasanton Gateway retail <br />development ("Project") in Pleasanton, California. Additionally, Kosmont was asked to <br />supplement the City's Analysis by applying a model to identify the Project's potential <br />impacts to the local economy, including the amount of permanent jobs created by the <br />Project. <br />Project Description <br />Regency's proposed Project consists of 193,481 SF of retail building area at the southeast <br />corner Stanley Boulevard and Bernal Avenue in the City of Pleasanton. The Project <br />would include a 141,192 SF home improvement/building materials retailer (Home <br />Depot), 15,789 SF for a drug store (Longs Drugs), and 36,500 SF of various service <br />retail and food users. Home Depot currently operates a retail store in Pleasanton at <br />Johnson Drive and Owens Street ("Johnson Drive"), south of the I-580. The proposed <br />Project would install an additional Home Depot store in Pleasanton, operating <br />concurrently with the Johnson Drive location. <br />In August 2007, the City prepared a preliminary estimate of net fiscal impacts generated <br />by the Project (See Appendix H). The following is Consultant's assessment of the Project <br />in comparison to certain City conclusions. <br />SUMMARY OF FINDINGS <br />Kosmont's analysis concluded the following: <br />1) Project is expected to generate a total of $825,220 in annual gross fiscal revenues <br />to the City of Pleasanton: $678,000 in sales tax; $22,120 in business license tax <br /> <br />Tdb anaysti< ro !or awsuat!va pwposea arM K rot a guarantee W aauar anorw AeWre rosutta Prged pro rams and lar an~yxs sn <br />propolorti ony. AetuN reauaa may aakr ;natenaty tram Vasa expreaaea Yt Vtia ansynn. <br />kosm n 165o1VOnWraBNd. SuNO517 Encino catdomm 97a38 pnB1tA81.848a iaa818.9et.8588 wrvw.woc„wm.cam <br />