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6: /.E -,('þ Economic Task 6: Prepare Final Report We will finalize the economic report by incorporating responses to comments on the draft from the city of Redwood City and EIR consultant. We will deliver one printed copy and an electronic copy of the final report to the City and the EIR consultant. Fiscal Analysis The fiscal impact study would address the likely effects of the proposed project (and alternatives) on City revenues and the cost to the city of Redwood City providing public' services. This analysis would focus on: . . City of Redwood City revenues and costs; it would not extend to the State of California, the County of San Mateo, the local school districts (Redwood City Elementary and Sequoia Union High), or other public agencies. . Operating/ongoing costs and revenues; it would not cover capital or other one-time expenditures or one-time revenues. . The City's general fund and gas tax fund; it would not include enterprise funds or special purpose funds. Fiscal Task 1: Review Budget; Formulate Tentative Revenue and Cost Equations We will examine the city of Redwood City budget to identify the array of services provided by the City and to formulate tentative equations that describe revenues and costs that would be associated with the proposed project. ' We will prepare in~ial estimates of revenues from'property tax and sales tax (based on -~ information to be provtded by -the project sponsor) that would be generated by the .~~ . ' '. proposed project. Fiscal Task 2: Meet with City Staff We will meet with the Finance Director (or other Finance Department staff, as appropriate) and staff of other City departments to confirm our tentative revenue and cost equations. Staff of other departments may include, at a minimum, the Police Department, Fire Department, and Public Works. In some cases, it may become apparent that simple equations, such as are typically used for fiscal analyses, will not be appropriate for this project. We are particularly concerned about the estimated of service costs: typically, service demands and costs are considered on a "per capita" basis. If this approach is applied to the proposed project, no costs would be anticipated because the project does not include housing, and therefore would not accommodate any resident population., In this light, we will discuss likely impacts of the project and service responses with City staff to arrive at reasonable conclusions about changes in service demands and resulting changes in costs. In discussions with the Police and Fire departments, we will use the public service information reported in the EIR as a starting point. Atty/Agr/2005.024 062105 24