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D RAFT M EMORANDUM To: Ellen Clark, City of Pleasanton From: Jason Moody and Megan Gregory Subject: East Pleasanton Steelwave Fiscal Impact Analysis; EPS #241085 Date: January 22, 2025 This memorandum describes the methodology and results from an analysis of the impacts to the City of Pleasanton’s General Fund budget from the potential development and annexation of several projects proposed on sites currently located just outside the City. As proposed by Steelwave LLC (the Applicant), the projects include the development of three sites in unincorporated Alameda County, two of which are planned for residential development, and the third for light industrial. Economic & Planning Systems, Inc. (EPS) prepared this Fiscal Impact Analysis (FIA) to inform the City about the budgetary implications of the various project components relative to a “no build” or “baseline” scenario as well as a scenario where development occurs without annexation. This FIA evaluates each project based on completion of construction and full stabilization (i.e., “buildout”). The analysis quantifies net effects on the City’s General Fund budget (i.e., both costs and revenues) based on data from sources including Pleasanton’s FY 2024/25 Mid-Term Budget and market assumptions provided by the applicant. As shown in Summary Table 1, the three proposed projects envision 238 residential units on the Arroyo Lago site, 445 age-restricted residential units and 16,000 square feet of commercial space on the East Lakes site, and almost 300,000 square feet of light industrial space on the Parcel H site. This analysis assumes that 49 of the residential units at the Arroyo Lago site will be attached ADUs, available for below market rate rents. Additionally, this analysis assumes the East Lakes Project will provide inclusionary housing units on site. ATTACHMENT 3 Page 223 of 749