RES 201131 - Laserfiche WebLink

$30,440 in annual revenue to other schools. The Project would also generate one-time supplemental taxes of approximately $42,725 to the PUSD and$4,690 to other schools. The fiscal impact analysis also assessed the impact of development within the Project on businesses in the City, including the downtown area. The analysis indicates that impacts generated by the Project on the market area's existing retail environment would be limited. The economic analysis concluded that Phase I sales in the Project(i.e.,the sales resulting from a club retail use and a limited amount of general retail uses) could result in a decrease in annual sales by existing market retailers of approximately $26.7 million, or 0.9 percent of the market area's existing $3 billion in annual retail sales, which is considered to be a nominal impact. Based upon these findings, the analysis concluded that implementation of the Project would not cause or contribute to urban decay. 2. The Project Would Enhance Pleasanton 's Diversified Economic Base Through Business Expansion, Consistent with General Plan Economic and Fiscal Element Policy 1 Policy 1 of the City's General Plan Economic and Fiscal Element is to "Enhance Pleasanton's diversified economic base through an aggressive business retention and expansion program."Approval of the Project is key to facilitating the "aggressive"business expansion envisioned by this policy. Without the approval of the Project,the area would be likely to develop on a parcel by parcel basis, and not benefit from a consistent framework for the City's review and approval of new uses and projects in the Project area, resulting in a piecemeal, incremental approach to development, typical of most small-scale non-residential development. The Project would facilitate the redevelopment of land to a higher and better use by creating a plan for development rather than an incremental approach. An incremental approach would not likely provide the economies of scale (or degree of funding) necessary to provide needed infrastructure improvements as the need arises, nor would it facilitate development of a major retail anchor. An incremental approach would therefore not likely yield the scale of business expansion that the Project would yield. In addition, the Project contains design guidelines that will ensure a high quality development that furthers the mission of the City's economic development goals and policies, by providing assurance of high quality design and access to major transportation corridors to which larger retailers are attracted. c. Adoption of Statement of Overriding Considerations The City Council has weighed the economic, legal, social, technological, and other benefits of the Project against the significant and unavoidable impacts of the Project. The City Council hereby finds that those benefits outweigh the significant and unavoidable impacts of the Project, and further determines that the Project's significant unavoidable impacts are acceptable due to the Project's benefits. Accordingly,the City Council adopts the Statement of Overriding Considerations contained in these Findings recognizing that significant unavoidable impacts will result from implementation of the Project.