Laserfiche WebLink
MND No. 2015-14, GPA No. 2017-03, TTM No. 2017-04 and VAR No. 2017-10 <br />June 4, 2019 <br />Page 6 <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this item supports the City's efforts to meet Goal #3 - Economic Development, <br />Objective #2 (create new opportunities for business/job growth and encourage private <br />development through new General Plan and Zoning Ordinance policies). <br />FISCAL IMPACT <br />Based on the development of the 17 townhomes, the City is expected to generate approximately <br />$140,000 in permit fees. The project will also increase the property tax for the individual units. <br />The properties are currently vacant and have a taxable value of approximately $1.1 million. Upon <br />completion of the project, the estimated taxable value of the property is approximately $10 <br />million. Based on the $10 million valuation, the estimated annual tax revenue to the City is <br />approximately $11,000 (not including a 2% annual increase). <br />Q <br />Minh Thai <br />Executive Director <br />Planning and Building Agency <br />SK:la <br />SARFCAM19\5-04-19WA 2017-03 - 3025 W Edinger - Haphan Townhonnes\PH - 3025 W. Edinger Ave - GPA 2017-04 and MND.doc <br />Exhibits: 1. Planning Commission Staff Report and Planning Commission Resolution <br />with draft City Council Resolutions <br />2. MND Resolution <br />3. General Plan Amendment Resolution <br />4. Tentative Tract Map Resolution <br />5. Variance Resolution <br />75H-6 <br />