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6.1G Page 3 Economic Analysis Provide an analysis of local economic impacts. Will the project 1. Support local businesses and/or provide other public benefits through employee spending? 2. Create/increase job growth (Le. attract biotech and/or other industries to Redwood City) or displace businesses for local Redwood City residents? 3. Support downtown businesses? 4. Impact future City revenue through lost business opportunities (Le. big box retail, R&D, biotech, "green" and other industries that are allowed to occupy the campus under the existing General Plan and Zoning designations)? Special Studies Provide the following special studies. 1. Childcare needs analysis for Stanford University employees and surrounding neighborhood (includes optional task). 2. Housing impact analysis, including a housing/ jobs balance analysis and affordable housing needs assessment (includes optional tasks). 3. Hotel (full service) needs analysis. 4. General Plan alternative land uses analysis for the neighborhood compared to existing land uses. 5. Transportation Infrastructure Assessment -- Based on the results of the environmental impact report (EIR) analysis, it is anticipated that substantial mitigation will be required to reduce project traffic impacts. Infrastructure improvements being considered in the new General Plan in this part of town include Highways 101/84 and new light rail/street car system improvements. Keyser Marston will assist the City in analyzing Stanford's fair share contribution to such major system needs and develop a strategy for implementation of major infrastructure. , Out of six qualified fiscal/economic consulting firms solicited for proposal, three firms responded to the Request for Proposal (RFP). Staff recommends Keyser Marston Associates (KMA) as the service provider for this project. KMA is a highly qualified firm experienced at providing information and analysis services in the areas of real estate, economic development and redevelopment. The firm has successfully advised the City for over eighteen years and is very familiar with the local economy and environment and the City's revitalization goals and projects. Tim Kelly has been the Principal assigned to past projects in Redwood City; Debbie Kern specializes in fiscal and economic impact analysis and affordable housing. Ms. Kern has served as an advisor to the Redevelopment Agency on past housing projects and issues. ALTERNATIVE Council may chose not to approve this agreement and instruct staff to modify the scope of work, or seek other qualified service providers. FISCAL IMPACT There is no fiscal impact to the City as a result of this action. The City will recover the cost of this agreement from funds deposited by Stanford University.