ENVIRONMENTAL PLANNING DEVELOPMENT SOLUTIONS, INC

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April 25, 2023 P a g e j 4 Bristol Specific Plan EIR Amendment 1 12. Economic Impact Analysis (EIA) Peer Review DTA shall review the EIA for the Project, dated February 7, 2023, prepared by NDG regarding the economic impacts of the Project. The EIA identifies the general economic Impacts of the Project and quantifies those impacts where possible. General economic output impacts include additions to regional output (gross receipts or sales), earnings (the sum of wages and salaries, proprietors' income, and other labor income), and employment (the number of direct, indirect, and induced jobs created). 12.1. Recurring Job Creation DTA will verify the number of new jobs created on -site by each component of the Project as reflected in the EIA, and based on the number of new on -site jobs created, DTA shall calculate indirect and induced City employment as determined through the Impact Analysis for Planning ("IMPLAN") input/output modeling system utilized In the EIA. 12.2. Recurring Sales Impacts Retail sales in the City will increase with the development of the Project indirectly from resident and employee purchases made within the City. DTA will confirm the EIA's assumptions regarding the indirect retail sales generated from off -site retail expenditures by residents and employees and the multiplier effect of that spending on the local and regional economy. The multiplier effect will be estimated using data available from IMPLAN. 12.3. Recurring Economic Impacts Based on the recurring employment impacts determined under Task 12.1, DTA shall confirm the EIA's sum of the wages and salaries associated with these recurring direct, indirect, and induced jobs and the total economic output associated with the Project. 12.4. One -Time Output, Wage, and Employment Impact The Project will generate one-time increases in output and wages from the construction and development of the Project and all related site improvements. DTA will verify the number of off -site jobs created through indirect and induced impacts. Indirect and induced impacts represent the multiplier effect of increases in wage and output on all sectors within the City's economy. 12.5. Prepare Handout and Executive Summary for EIA's Conclusions DTA shall prepare a summary of the EIA's conclusions in a form of a handout and an Executive Summary of the fiscal and/or economic impacts of the Project. One round of review is assumed and 2 virtual meetings with the City and applicant. Attendance at a public hearing for the project is excluded. 13. Community Benefits Analysis and Meetings 13.1. Community Benefits Analysis Report DTA will memorialize terms of the proposed community benefits that have been negotiated between the Project proponent and City and assess the value and feasibility of such benefits on both quantitative and qualitative bases in the form of a Community Benefit Analysis Report (the "CBA"). The CBA will analyze the financial value or socioeconomic benefits to the City arising from the Project's contributions related to regional and neighborhood infrastructure improvements (including mobility and urban amenity improvements), public parking resources, neighborhood/community parks and open space, cultural facilities, affordable and workforce housing, school facilities, development impact fees, use of prevailing wages for construction jobs, local hiring requirements and employment outreach efforts to disadvantaged communities. DTA will include a summary of the fiscal and economic impacts of the Project benefits as determined in the prior tasks of this Scope of Work. 13.2. Meetings DTA shall attend up to one in -person meeting at the City, as well as up to 3 virtual meetings with representatives of the City and other stakeholders. 14. Expedited EIR Preparation Schedule