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proposed to include 34,700 square feet of retail, 10,000 square feet of restaurants, 21,200 square feet of office space, and a 116 -room business class hotel on a 19.7 -acre site (the 'Project"). The analysis estimated the fiscal revenues, municipal expenditures, and net fiscal impact of the project upon full buildout and stabilization. The study also included estimation of the project's economic impacts during construction and upon achieving stabilized operations. Equity One, Serramonte Center Expansion Fiscal Benefits and Economic Impact Study. At the request of the City of Daly City, ALH Economics prepared fiscal benefit and economic impact analyses of the planned expansion of the Serramonte Center in Daly City, California. The proposed project involves expansion of the existing Serramonte Center, designed to enhance the center's regional competitiveness. The expansion features a mix of commercial uses, including expanded retail and restaurant space, entertainment uses, a hotel, and medical office spaces, plus a parking garage. The expansion will occur in phases over a period of up to 10 years. The fiscal benefit and economic impact analyses projected the impacts upon full buildout and stabilization of the project. The economic impacts were measured during construction and of full stabilization. This analysis included ALH Economics preparation of operational assumptions and prospective property values for each project component.