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scenarios in which shares of existing and projected retail sales shift to the expanded Costco because prices there are lower than at competing stores. Using information obtained in Task 2, we will translate the estimated impacts on jobs into impacts on personal income. The combination of jobs added at the proposed project (the gross change, or direct impact) and jobs lost at competing locations (if any) will be the net change in jobs, and the net impact on jobs of the proposed project. We will also estimate the impact of the proj.ect on the amount of retail and gas station space supported elsewhere in Redwood City. Thi~ estimate will be based on the sales volume expected in the additional store space and the gas station and the amount of space/number of stations that this volume would support in non-warehouse outlets. Economic Task 5: Prepare Draft Report We will synthesize the information we collect in Tasks 1 through 4 into a draft stand- alone report that describes the economic impacts that could result from the proposed project and alternatives. We will provide electronic copies of the report to the City and the EIR consultant for review. We ask that all comments be returned to us on a single printed copy of the report, and that they be non-contradictory. We would be happy to meet with the EIR consultant and the City to discuss comments on the draft report. 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. "'1"""- T'.