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 4 ^ the City's most current sales tax information by type of store (apparel, general merchandise, etc.) ^ a current City operating budget ^ studies that have already been prepared for the proposed project (e.g., the public services analysis, if any, from the environmental impact report) ^ prior estimates of the project's expected impacts on schools (we understand that analyses have been prepared by both the project sponsor and the school district) ^ prior studies of child care needs for the project and the City of Redwood City ^ future residential developments that may be located in the vicinity of the proposed Peninsula Park project, and which should be considered in the economic and child care analyses At this meeting, we will also discuss possible formats for presentation of the findings of the four analyses. The threshold question is whether they should be presented together, in a single vol- ume, or in four separate volumes. Another question concerns the fiscal impact analysis: should we report the results for one date (e.g., completion of the project), or for several dates (e.g., com- pletion of each phase> Ten years after completion of the entire project? Other?)? Other questions may arise as we learn more about the proposed project and the City's concerns. Task 2 Economic Analysis Task 2a Size of retai/ component Mundie & Associates will evaluate whether the proposed retail component is an appropriate size for the population of the project plus the existing and potential population on the Bay side of US 101 in the project vicinity by: ^ Estimating the amount that households in the area spend on convenience-type goods (as suggested above, these goods would include, for example, groceries, household items, food service, and laundries/dry cleaners). ^ Estimating typical sales per square foot of store space in stores that sell these types of goods. ^ Comparing the two estimates to find out how much space could be supported by (1) resi- dents of the proposed Peninsula Park project, (2) residents of the project plus the existing adjacent residential development (between the project and the Bay on Bair Island Road), and (3) residents of the project plus existing adjacent residents plus potential future residents on nearby sites. ^ Identifying any other retail uses that are or could be planned for this area, and which could compete with space in the proposed project. It is tentatively assumed for this analysis that the convenience retail needs of hotel guests would be substantially captured within the hotel. One exception might be the demand for restaurant meals. The economic analysis will include an estimate of restaurant demand generated by the hotel, based on standard assumptions about occupancy and the propensity of guests to eat out- sidethe hotel but within the immediate vicinity.