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ta <br />www.FinanceDTA.com <br />SECTION V <br />PROJECT IMPACTS ON THE CITY'S <br />JOBS -HOUSING BALANCE <br />IV PROJECT IMPACTS ON THE CITY'S JOBS -HOUSING BALANCE <br />As stated previously, the Project is estimated to create approximately 425 new on -site <br />permanent recurring FTE jobs and DTA approximates that an additional 262 new off -site <br />indirect and induced permanent recurring full-time/part-time jobs will be created Citywide. <br />This results in a jobs -housing balance calculation wherein the numerator (i.e., number of <br />jobs) increases, while the denominator (i.e., number of housing units located in the City) <br />remains the same. <br />The jobs -housing balance is an indicator of the balance between employment and housing <br />opportunities in a given area. To a large degree, the jobs available in a community should <br />adequately represent the skills of the community's labor force. Housing prices/locations <br />should also be suited to the budgets of the workers within that community. However, <br />defining what constitutes a "balance" is not an easy task due to variations in local and <br />regional economies and housing patterns, e.g., what indicates "balance" in the City might <br />not be similarly appropriate in other parts of the State. <br />A positive balance between jobs and housing has a beneficial impact on the City by <br />decreasing costs associated with commuting and traffic congestion. A balanced <br />jobs -housing ratio also provides, inter alia, reduced commute times, improved social and <br />cultural involvement, a more attractive work/life balance to residents, and savings to local <br />public agencies in terms of the need to construct and maintain new road improvements <br />and other facilities. For example, any decrease in transportation facility costs experienced <br />by local public agencies will enable these agencies to invest their tax proceeds in other <br />facilities that can improve the quality of life within the City, such as libraries, recreational <br />projects, and other community amenities. <br />All these factors enhance the City's economic well-being and that of the residents of the <br />City, a portion of whom will find work within the Project. Notably, the change in the City's <br />jobs -housing balance will be mitigated by an influx of residents to the City who currently <br />live elsewhere but might move to the City in order to live closer to the new jobs generated <br />directly or indirectly by the Project. However, this in turn would increase the City's labor <br />force and provide new consumers who will support existing and new businesses in the City <br />that will provide them with the necessary goods and services. The positive impact of an <br />increase in the City's jobs -housing balance can't be overstated. <br />South Coast Technology Center Project May 13 2024 <br />Economic Impact Study <br />20 <br />