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<br />Review City Operating Budget <br /> <br />In order to become familiar with the major costs and revenue sources for the City, M&A will <br />review a copy of the current Redwood City operating budget. <br /> <br />Meeting with Finance Director <br /> <br />M&A will also meet with the Finance Director to discuss methods of estimating revenues and <br />costs associated with the project site in its current condition and with development of the <br />proposed project will be discussed. The scope for this task assumes that the Finance Director <br />will provide assumptions and direction for the fiscal analysis. <br /> <br />Estimate Fiscal Impacts of Project <br /> <br />M&A will estimate the changes in City costs and revenues that would result from development <br />of the proposed project based upon a review of Redwood City's operating budget and the <br />infonnation gathered during a meeting with the Finance Director. The results will be presented <br />in a one-page statement of potential fiscal impacts of the project. <br /> <br />Estimate Property Value Impacts of Comparable Projects <br /> <br />M&A will estimate the project's potential impacts on property values. The scope for this task <br />assumes that comparable projects will be identified by City staff and that data on sales prices <br />of single family homes in the vicinity of comparable projects will be provided by the project <br />applicant. <br /> <br />M&A will base conclusions regarding the project's impacts on property values on whether the <br />sale prices of homes in the respective surrounding areas differ significantly before and after <br />completion of the comparable projects. This analysis will also take into account other factors <br />that may have affected property values during the relevant time period. <br /> <br />Findings regarding the impacts of comparable projects on property values will be summarized <br />in a brief memorandum report and will be submitted with the Initial Study. This report will <br />describe the comparable projects, the methods used in the analysis, the contextual conditions <br />that may affect the results of the analysis, and the conclusions of the investigation. <br /> <br />0 <br /> <br />DfjD <br />lI~m <br />IJ~~ <br /> <br />Page 6 of 7 <br /> <br />T. <br /> <br />-T <br />