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7. Financial Impact of Inidative 7.1. Fiscal Impact of Hillside Developable Parcels Relocated to Other Areas o[ City Iiaclcaround It is estimated that approximately 119 to 224 developable parcels would be moved from the hillside to other areas of the city if the Initiative were implemented. To determine the impact from this moveme~, the following general information about the typical types of housing units that could be built in other areas of the City and for a hillside housing unit was calculated: Howlnp UnR Meumptlone: Floor Ana: Cost Psr 8quaro Foot: Estimated Market Value: Person Psr Household: tN MuNifamly Unl~~t 900 squaro feet $z5o $225,000 2.0 Slnple Family Detaehed Unilro 3,500 aquero test $360 $1,225,000 3.0 Hillside Slnple Famly Unllm 8,500 aquaro feet $400 $3,400,000 3.2 of t~35~0 unit 213~uoib aro one bednwmlone bath~130 aro two6bedroomaltwo baths and aro ~ throe bsdtoomsllhros baths. (2) Based on the Ironwood ProJset 191 units ronpinp from 1,450 squaro feet 1d 5,091 aquaro feet. (3) Based on PUD-33: 51 units ronglnp from 8,058 aquaro test to 12,500 aquaro feet: capped at 15% floor area for bts greater than one acro. (4) Per State of Califomle Department of Flnantx as of January 1, 2008: 2.753 peroons per household in Pleasanton. Per U.S. Censw: owner occupied 2.87 persona par household and rooter occuped 2.3 persona per household; per 1998 Gsnsral Plan: 3.09 peroone per single /army household and 2.05 parsons per multlfamiy household. Recent nofatbn of larysr households being multi-ysnsratlonal, hens the incroase in person per household for the hillside homes. 'the fiscal impacts to the City as a result of developing multifamily or single family detached homes. rather than 119 to 224 hillside homes, include: (i) the annual operating revenues and expenditures of the City; a~ (ii) the initial capital fees (Development Fees3h received by the City at the time a building permit is issued. Operating revenues and expenditures are based on the type of development, size (floor area), value of the improvements and the number of persons contrast,hDevelopmeat Fees arenmore vided in Table 1, above, based on housing type. generally based on type of development (e.g. single family or multi-family). '~ Develapmeat Fed collected to fund City project F~aad o ~fea eoUeeted u- speeilleiarw fadro Fee, Lower Ineoate Hotaio8 Fee, Trefik Development ee, iraprovemeNS xrvina thou areas. 28