21 ATTACHMENT 13 - Laserfiche WebLink

COIV'FIl)FiVTI11.I, & P1iI1'ILFCTI~I) 1~'t)Rl. I'RODLICT Regency Centers -Pleasanton Fiscal Analysis Memo October 8, 2007 Page 6 of 17 Direct Benefits Direct Benefits include expenditures made by companies involved in the construction activities necessary to develop the Project and employees working for those companies. During the construction phase, the Project is estimated to generate more than $48.1 million in direct economic activity and create approximately 376 jobs in Alameda County. Indirect Benefits Indirect Benefits include industries affected by the Project, such as Wholesale Trade (where builders purchase lumber, roofing materials, plumbing materials and other supplies), Architectural and Engineering Services (often contracted within the design and planning stages of construction). During the construction phase, the Project is estimated to generate approximately $11.96 million in indirect economic activity, creating 92.3 indirect jobs in Alameda County. Induced Benefits Individuals who are directly or indirectly employed as related to construction activities of the Project will generate additional economic activity based on their personal expenditures in the proximity of the Project. These "induced" benefits will contribute approximately $21.59 million in economic activity and create approximately 163.3 jobs in Alameda County. The full range of construction-related economic impacts is detailed in Appendices E and F). Finding 5: Proiect-Generated Permanent Jobs Consultant further augmented the City's Analysis by providing an estimation of permanent jobs that will be generated by the Project's retailers upon full stabilized operation in 2009. In addition to the local economic benefits, the Project will provide approximately 474 permanent full and part-time jobs (See Appendix G for details and methodology). SUMMARY The Analyses by Kosmont and the City both identify substantial benefits from the proposed Project to the City of Pleasanton and the local economy. Net fiscal revenues to the City will increase as will the local economic benefits from the Project's construction and the addition of approximately 474 permanent jobs at fully stabilized operation in 2009. The City estimates the Project's resultant net fiscal impacts are lower than Kosmont's in-part due to the use of lower per-square foot sales estimates. Another reason is the discount of gross annual sales tax by 20% to account for anticipated TMs anMyNS n far iWNroave puryoses ane n not a gwroMee of actual arstia rutwe rosWb. project pro twma aM ta: analyses aro I DrajeCgM only, ktuel reauaa may di}ler metertaty hom atone eepreswe in avs analysts. 1{~5mo~ l8561'wentura Blvd. Suite 571 Enetm CeM7orNS 8tAJ6 pA 818.981.8~N faz 818.88[,8588 www,koemonlwm