Agmt18 Economic and Planning Systems, Inc.

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The revenue side of the equation will consider the unique tax generating components of each land use category, such as typical assessed values, sales tax generation factors, and other considerations. The Consultant will provide more detailed analysis for key revenue generators such as property, sales, and hotel taxes. Less significant revenue sources will be estimated on a per capita basis or classified as "cost recovery" (e.g. permits and fees). The analysis will result in a net per unit fiscal impact calculation for each land use category. In particular, the net fiscal impact deducts the total per unit cost of providing services to a particular land use from the per unit revenue that it generates. The analysis will differentiate between those categories that tend to be more cyclical and those that are more stable. This task will also highlight, but not quantify, the potential implications of key economic and policy trends, and changing patterns of retail demand and office occupancy. Step 1.3: Meetings and Deliverables The Consultant will document the findings from Step 1.2 in a technical memorandum for City review. The Consultant will revise the memo based on one round of consolidated comments. The budget estimate assumes that the review will focus on key assumptions and calculations rather than consideration of additional data and / or major revisions to study methodology (which will be addressed in Task 1). The Consultant will also be available to present the findings at a City Council meeting or Study Session, if requested. Additional meetings, presentations, and/or deliverables, including any requested under Step 1.4 below, will require a budget amendment. Step 1.4: Detail Fiscal Analysis of Selected Budget items (Optional) As noted, the analysis described above will provide a "snap -shot" comparison of the relative fiscal performance of various land uses based on the existing City General Fund budget. It is expected that the analysis will highlight a number of key trends and issues that may require additional analysis. As such, in this task the Consultant will conduct targeted analysis of selected budgetary issues and categories based on input and direction from the City. Among other things, the Consultant may provide a sensitivity analysis to demonstrate how various policy or economic factors might affect the City's long-term fiscal health. The Consultant may also conduct interviews with selected Department service providers to REV: 02-25-21 PR ATTY/AGR.2021/Amend. No. 2/Economic Planning Systems, Inc. (EPS AMENDMENT NO.2 TO AGREEMENT) (Page 5 of 7)