Agmt07 Mundie and Associates - Peninsula Park Study 650 Bair Island Rd

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Proposal to the City of Redwood City for Peninsula Park Studies January 23, 2007 Page 3 conditions on sale are expected to reduce the prices of housing units, because they limit the potential size of the market eligible to buy the units. If the "within four miles of work" condition or other conditions were strictly enforced, they could affect unit salability and price, which in turn could affect the fiscal impact of the project. The enforcement of such restrictions would also have an administrative cost: the enforcement entity and mechanism are not identified in the RFP, but the cost could be noticeable if the enforcement effort is to be effective. (If there is no enforcement mechanism, then the potential benefit may be limited.) Fiscal impacts. How would City revenues and costs change as a result of the project? Revenues would increase with redevelopment of the site and sales of condominium units. In particular, property taxes would increase to reflect the value of the new development (assuming that the project site is not in a redevelopment project area). Some increase in sales taxes would result from residents' taxable purchases within Redwood City. Ad the same time, the costs of providing public services would also increase. Without having contacted City staff about this particular project, we would be particularly interested in the effects of the project on the costs of fire protection, police protection, street maintenance, and park maintenance. 3. School needs. We understand that the project sponsor's estimate of the number of school- aged children likely to live in the new condominiums differs from the estimate by the school district. The City needs an objective analysis of the "student yield rate" likely to be associated with housing units of the types proposed. 4. Child care needs. The need for child care is typically assessed based on the number of chil- dren aged 13 or younger living in households in which all of the adults are in the labor force. At present, there is no child care availability in the area between US 101 and the Bay. Similar to the issue of impacts on school needs, the impact of the proposed project on child care needs will depend on the average number of children per households and the ages of those children. In addition, it will depend on the number of adults in each household and the employment status of those adults and, possibly, on household incomes. SCOPE OF WORK To address the issues identified above, Mundie & Associates would complete the following tasks: Task 1 Meet to initiate the study We will meet with staff to confirm our understanding of the issues outlined in the RFP and reca- pitulated above, confirm the schedule for completion of the study, and collect information avail- able from the City that is needed for the analysis. Information items would include, for example a more complete description of the project (including the projected development cost, the expected sales prices of the housing units, the value of the nonresidential space and marina, ownership of the marina, and more detail about traffic reduction measures)