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ER No. 2018-28, AA No. 2019-03, CUP No. 2019-21 — Euclid Street 7-Eleven <br />February 10, 2020 <br />Page 8 <br />As a result of the environmental analysis, no areas of significant impacts were found from the <br />construction of the proposed project. Mitigation measures have been provided to address potential <br />environmental impacts, with a list of these mitigation measures found within the attached Mitigation <br />Monitoring and Reporting Program. Mitigation measures have been outlined to address potential <br />impacts on cultural and tribal cultural resources, geology and soils, hazards and hazardous <br />materials, noise, and transportation/traffic, <br />Economic Development <br />The project will generate a combination of property tax revenue, sales tax revenue, temporary and <br />permanent jobs for the community. Property tax revenue will increase as the vacant loft will be <br />redeveloped with a new convenience store and service station and the total net value of the property <br />will also increase. According to the most recent tax roll, the property is currently valued at $1,700,000 <br />resulting in approximately $19,128 in annual property tax. Upon completion, the property is estimated <br />to be valued at approximately $3,500,000. The construction of the project will require that permit fees <br />are paid to the City and there will be temporary construction jobs. According to the plan check <br />submittal, a total of $22,000 was collected for permit fees, with the improvements estimated at <br />approximately $606,000. Based on sales volume estimates provided by 7-Eleven, the location will <br />provide additional sales tax revenue to the City that is estimated to be over $30,000 annually. In <br />addition, 7-Eleven estimates 10 new job opportunities will be created at this specific location. <br />Strategic Plan Alignment <br />Approval of this item supports the City's efforts to meet Goal No. 3 Economic Development, Objective <br />No. 2 (create new opportunities for business/job growth and encourage private development through <br />new General Plan and Zoning Ordinance policies). <br />Conclusion <br />Based on the analysis provided within this report, staff recommends that the Planning Commission <br />recommend that the City Council approve ER No. 2018-28, AA No. 2019-03 and CUP No. 2019-21 <br />as conditioned. <br />Assistant Pla <br />IO:sb <br />8.,Tlanning Commissiont2020\02-10-206AA-2019-3 CUP-2019-21 813 N Euclid Street\813 N Euclid —PC Staff Report- 2-10-2020.docx <br />75A-22 <br />1-8 <br />