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informants to better understand the short term real estate market dynamics in Redwood City (including North Fair Oaks) and the ways in Which these short term trends could mesh with the longer terms trends and projections. If data is readily available, Strategic Economics will look at recent building permit data. The spatial patterns of new development will provide another indicator of the overall conditions and general value of various buildings and building types throughout the City. Information about current fiscal performance will be combined with employment trends, real estate market conditions, and building permit data into a Single matrix, or some other form of summary, so that the relative economic development contribution of each area can be measured and compared against other areas and the City in general. As possible the analysis will be presented spatially in a series of maps or charts with supporting language summarizing the significance of various subareas. ii. Commute Patterns and thelrRelationship to Business Attraction, Retention, and Workforce Access to JObs In this section, Strategic Economics will profile the commute patterns to and from subareas of Redwood City. For each major employment area, Strategic Economics will utilize data from the Census Transportation Policy Package (CTPP) to identify the top areas where workers live throughout the Bay Area. Interviews with local businesses Will enhance the results of this analysis, in order to identify the challenges faced by employers in facilitating their employees' access to jobs2. Strategic Economics will conduct a similar analysis of CTPP data for specific residential areas in order to identify the top areas where local residents work. The unincorporated North Fair Oaks area will be a major focus of this second analysis, with the goal of understanding the locations and industries in which residents of this neighborhood work, and ensuring that, to the best of its ability, the General Plan supports local employment opportunities for local residents3. iii. Areas of Potential Change The results of the baseline economic analysis will provide a solid foundation for understanding what role different subareas play in terms of contributing to the City's overall economic and fiscal health, and identifying where significant changes inland use should be either encouraged or discouraged during the life of the General Plan. In this section Strategic Economics will use the above analysis to identify areas of Redwood City that are likely to experience significant change Over time. This section will focus on determining aU areas that could experience a transition, regardless of whether such a transition would be desirable by the City, or whether there is an interest in maintaining the current land use mix. Strategic Economics will present to the team and City Staff a preliminary map showing areas of potential change throughout the City. Following this meeting, Strategic Economics will present a final map that classifies areas of change into various categories, possibly including: no change anticipated; change is anticipated but not desired; change is desired but policy intervention will be needed; and, change is desired and will likely occur in the private market. 2 Typically interviews are conducted over the telephone. However, if there is an intention to form local focus groups representing different stakeholders (such as a business focl,!s group) Strategic Economics can work in this medium aswell. _ 3 Live Spanish translation is not included as part of the scope of work. If translation services are needed, they can provided on a time and material basis. SCOPE OF SERVICES Redwood City General Plan January 11, 2008 Page 13