Item 26 - Public Hearing Regarding Bristol Project

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Related Bristol Specific Plan Entitlements & Development Agreement (3600 S. Bristol St.) and Staff Resolution Modifying Parking Districts in the Surrounding Area October 1, 2024 Page 33 Table 6a: Key Economic Benefits Findings housing balance, resulting in a positive shift toward the direction of a 1:1 job - housing balance. Sources: I Studies prepared by Natelson Dale Group, Inc. Feb. 2023 and DTA Sep. 2023 Table 6b: Key Fiscal Impacts Findings Topic Existing Site Proposed Project Net Chan e Total Site Revenues to $3,290,327 $11,691,114 $8,400,787 the Cit 's General Fund Total Site Expenditures $471,270 $8,296,866 $7,825,596 from the City's General Fund Cost of Services Net General Fund $2,819,057 $3,394,248 $575,191 Fiscal Impact to the City Sources: Existing Site Calculations Proposed Project Estimated Net Change, from Natelson Dale Group, Calculations from Natelson based on FY22-23 data Inc. February 2023 based on Dale Group, Inc. February FY22-23 data 2023, updated by DTA March 2024 after Peer Review Table 6c: Land Residual Value Findings Topic Existing Site Proposed Project Net Change Total Net Assessed Value NAV - $2,377,266,000 Total Costs - $1,779,371,000 Excess of NAV over Costs $597,895,000 Source: Study prepared by DTA (Sep. 2023 Table 6d: Community Benefits Impacts Findings Topic Existing Site Proposed Project Net Change Housing Construction 0 units 3,750 units 3,750 units, providing a jobs -housing balance that exceeds the Statewide average of 1.260, and assisting the City with meeting its RHNA allocations Affordable Housing In- $0 Approximately $18 Approximately $18 Lieu Funds million, depending on million, depending on unit sizes and mixes unit sizes and mixes Publicly Accessible 0 acres 13.1 acres 13.1 acres of publicly Open Space accessible open space comprised of the Bristol Plaza, Bristol Green, Bristol Central Park, the