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485 <br /> <br />Annual Projected Sales <br /> <br />Smith's Food & Drug <br />Marshalls <br />Petsmart <br />Staples <br />Buildings H, J, A, B <br />Claim Jumper* <br />Wells Fargo <br /> <br /> $25,r~00,000 <br />$6,000,000 <br />$5,000,000 <br />$4,0O0,000 <br />$6,000,000 <br />increase of $600,000 annually <br />N/A <br /> <br />*current restaurant sales are declining based upon the deterioration of the site <br /> <br />Virtually all sales activities will be subject to local sales tax which will create new <br />revenues for the City. <br /> <br />B. Employment Opportunities <br /> <br />The proposed project will help achieve the City's objective of providing <br />employment opportunities for existing and future residents of the City as follows: <br /> <br />Merchant/Tenant <br /> <br />No. of New Employees <br /> <br />Smith's Food & Drug 200 <br />Marshalls 60 <br />Petsmart 35 <br />Staples 30 <br />Buildings H, J, A, B 50 <br />Claim Jumper N/A <br />Wells Fargo N/A <br /> <br />C. Urban Renewal throu~,h Site and Landscape Improvements <br /> <br />The project site is currently an eyesore to the community and surrounding area. <br />Previous buildings on the site were underutilized and dilapidated. These <br />conditions are known to depress neighborhood property values. The new <br />development would incorporate new dc,.ign and landscape techniques wtdch <br />should enhance property values on site while providing adequate buffers for <br />adjacent residential uses. The proposed project would provide an attractive retail <br />and restaurant establishment for the surrounding business community. <br /> <br />Because the project is proposed to be developed as an integrated whole, the <br />project will provide the benefits eg an integrated architectural, landscaping, and <br /> <br />JAR3~03 -2- <br /> <br /> <br />