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<br />88 <br />Page 5 <br /> <br />AL TERNA liVES <br />. Provide staff with additional direction and/or revisions to the Zoning Map or Text <br />Amendments for the East Downtown Study Area. <br /> <br />. Defer zoning amendments for the East Downtown Study Area untit after <br />discussion/adoption of the General Plan Land Use Element. <br /> <br />. Retain existing zoning (Le. No Project). <br /> <br />FISCAL IMPACT <br />East Downtown Studv Area <br />AU properties within the study area are currently developed and serviced with existing <br />infrastructure and utilities. Additionally, City services such as Police and Fire are being <br />provided to all properties within the Study Area. In the event that a property owner <br />chooses to redevelop the property in accordance with the proposed zoning <br />amendments, the project would be evaluated based its conformance with all applicable <br />codes and requirement and would be subject to all current development fees. <br />Furthermore, any future development proposal within the East Downtown Study Area <br />would be reviewed for environmental impacts on its merits. Redevelopment of these <br />sites would be anticipated to increase property tax for that site. <br /> <br />134 MaDle Street Proiect <br />The current project at 134 Maple Street, is a specific example of the kind of <br />development that could occur in the East Downtown Study Area. The developer of the <br />project has funded the preparation of all applicable studies for the proposed East <br />Downtown Study Area and the 134 Maple Street project. Direct revenue associated <br />with this project would include the following: <br /> <br />. Property tax revenue increase - The project is located within the Downtown <br />Redevelopment Area, the Redevelopment Agency will receive property tax <br />increment based on the increase in property tax revenue. <br /> <br />. Sales tax revenue increase - The facility will operate a small gift shop, which will <br />generate a small amount of sales tax. <br /> <br />The project would pay the costs of meeting City requirements for off-site improvements <br />to public right-of-way, so the City does not expect to incur project specific costs. <br /> <br /> <br /> <br />~ <br />~' <br /> <br />Chu Chang <br />Acting Community Development Services Director <br /> <br />Peter Ingram ~ <br />City Manager <br /> <br />/ <br />