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3.A. - Page 1 of 14 <br />/<�ik <br />Redwood <br />CitylCallifornia <br />Faunded 1867 <br />A,&/ <br />DATE: March 22, 2021 <br />SUBJECT <br />STAFF REPORT <br />To the Honorable Mayor and City Council <br />From the City Manager <br />Land use economics overview Study Session: Overview of fiscal impacts of various land use development <br />types on the City's General Fund <br />RECOMMENDATION <br />Provide feedback on the overview and forthcoming consultant technical memo. No formal action will <br />occur at this meeting. <br />STRATEGIC PLAN GUIDING PRINCIPLE <br />Excellence in Government Operations <br />BACKGROUND <br />Land use decisions are one of the most important functions of local government, with wide-ranging and <br />long-term implications. In making such decisions, the City Council must consider current and future <br />community needs and multiple public policy objectives, including land use patterns that support economic <br />vitality, environmental sustainability, public health and safety, and transportation goals. As the City <br />develops the Equity Plan this year with the support of the City Council's Equity and Social Justice Sub - <br />Committee, the City Council may also consider how land use decisions support equitable outcomes. In <br />recent years, the City Council has sought to understand how land use decisions affect the City's financial <br />sustainability, in particular, how such decisions affect City revenue and City operating costs. This study <br />session is the first of two study sessions to provide general economic context related to land use decisions. <br />It will focus on fiscal implications to the City related to new development in general. A second study <br />session, anticipated to occur in late summer, will provide general economic information to inform <br />consideration of community benefit proposals which are submitted with certain types of development <br />Page 1 of 8 <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.ore <br />3 <br />