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Related Bristol Specific Plan Entitlements & Development Agreement (3600 S. Bristol St.) <br />and Staff Resolution Modifying Parking Districts in the Surrounding Area <br />September 17, 2024 <br />Page 32 <br />FISCAL IMPACT <br />The General Plan Land Use Element requires projects proposing a zone change to <br />evaluate economic, fiscal, and community benefits impacts through various analyses <br />(Policy Nos. LU-2.4, LU-3.1, and Implementation Action No. 1.2). In accordance with the <br />General Plan, the applicant provided and the City prepared and/or peer -reviewed <br />analyses on economic impacts (EIA), fiscal impacts (FIA), land residual value (LRV), <br />and community benefits (CBA). The EIA, FIA, LRV, and CBA reports' conclusions about <br />the proposed project and its impacts are outlined in Tables 6a, 6b, 6c, and 6d. <br />Tables 6a, 6b, 6c, and 6d: Key Economic, Fiscal, and Community Benefits <br />Findings <br />Table 6a: Key Economic Benefits Findings <br />Topic Existing Site Proposed Project Net Change <br />One -Time Impacts Not applicable 16,834 jobs, including Not applicable <br />direct, indirect, and <br />induced full- and part- <br />time jobs; $1.5 billion in <br />citywide one-time labor <br />income; and $667.3 <br />million in intermediate <br />inputs <br />Recurring (Ongoing) <br />Impacts <br />Jobs -Housing Balance <br />371 direct and indirect <br />jobs <br />141,543 jobs citywide; <br />82,058 housing units <br />citywide; 1.725 jobs - <br />housing balance <br />1,586-5,900 total direct <br />and indirect jobs; <br />$337,218,792 in labor <br />income, intermediate <br />inputs, and other value <br />added <br />143,129 jobs citywide; <br />85,808 housing units <br />citywide; 1.67 jobs - <br />housing balance <br />1,215-5,529 increased <br />jobs <br />1,586 jobs resulting <br />from the project; 3,750 <br />new housing units; <br />0.055 decline jobs - <br />housing balance, <br />resulting in a positive <br />shift toward the <br />direction of a 1:1 job - <br />housing balance. <br />Sources: <br />I Studies prepared by Natelson Dale Group, Inc. (Feb. 2023) and DTA (Sep. 2023) <br />Table 6b: Key Fiscal Impacts <br />Findings <br />Topic <br />Existing Site <br />Proposed Project <br />Net Change <br />Total Site Revenues to <br />the City's General Fund <br />$3,290,327 <br />$11,691,114 <br />$8,400,787 <br />Total Site Expenditures <br />from the City's General <br />Fund (Cost of Services) <br />$471,270 <br />$8,296,866 <br />$7,825,596 <br />