downtown precise plan on-call services: economics

Economic & Planning Systems, Inc.T h e E c o n o m i c s o f L a n d U s e

1330 Broadway, Suite 450 Oakland, California 94612510.841.9190 www.epsys.com

DOWNTOWN PRECISE PLAN

ON-CALL SERVICES: ECONOMICS City of Orinda

September 17, 2020

Economic & Planning Systems Downtown Precise Plan On Call Services: Economics | 1

ABOUT ECONOMIC & PLANNING SYSTEMS

• Land use economics consulting founded in 1983

• Over 35 professional staff across four offices in Oakland, Los Angeles, Sacramento, and Denver

• National leader in:

• Real estate market and development feasibility

• Fiscal analysis and Public/private financing strategies

• Housing policy analysis

• Downtown / commercial district strategies and transition


KEY TEAM MEMBERS

Jason MoodyTeam Leader

Managing Principal 20+ years experience Leads the firm’s

practice in repositioning of commercial districts.

Fiscal impact specialist

Ben SigmanSenior Advisor

Principal Land use economist 20 years experience Consulting for public,

private, and institutional clients

Expert in downtown revitalization

Kate TraynorProject Manager

Senior Associate Experience in many

cities and counties in the Bay Area.

Experience in feasibility analysis, fiscal impact projections, and market research


REPRESENTATIVE PROJECTS

• Walnut Creek Broadway Plaza Shopping District Expansion Analysis

• Mountain View Downtown Retail Assessment and Precise Plan Implementation

• Palo Alto Downtown Retail Analysis and Commercial Development Cap Study

• Santa Clara Downtown Precise Plan

• Los Gatos Downtown Strategic Plan

• San Bruno Transit Corridor and Downtown Strategic Plan

• Downtown Redwood City Precise Plan Community Benefits

• Santa Clara Downtown Plan

• Downtown Napa Specific Plan

• Downtown Santa Rosa Specific Plan

• Downtown Oakland Community Benefits Analysis

• Downtown Duarte Commercial District Revitalization Plan

• Pleasanton Downtown Specific Plan

• Old Town Danville Economics

• Redwood City El Camino Real Corridor Plan

• Pasadena Playhouse District Strategic Plan

• Carlsbad Village Commercial Strategy

• Economic Analysis for Mission Viejo Civic Core Vision Plan

• Lafayette Affordable Housing Policy Analysis

• Menlo Park Density Bonus Review

• Santa Barbara Density Bonus Feasibility Analysis

• South San Francisco Housing and Community Benefits Feasibility

• Oakland ADU Feasibility and Incentive Program Analysis

• Mountain View Affordable Housing Policy Analysis

• Financial Analysis of Berkeley Density Bonus Program (multiple)

• San Mateo Affordable Housing Policy/Density Bonus Analysis

• San Carlos Affordable Housing Program and Project Analysis

• Walnut Creek Affordable Housing Policy

• Los Angeles Density Bonus Feasibility Analysis

• San Clements Affordable Housing Policy Analysis

• Bay Area Corridor “Missing Middle” Housing Strategy

• Sunnyvale Lawrence Station TOD Housing Feasibility

• San Jose Housing Policy Analyses (multiple)

• Santa Rosa Missing Middle Housing Development Policy

• Orinda BART Redevelopment Options for MTC

Downtown Planning/ Investment Strategies Housing Analysis and Policy

ORINDA CONTEXT


ORINDA DOWNTOWN PRECISE PLAN

The Village service and convenience retail office and surface parking Safeway (city’s only grocery store)

The Theatre District entertainment, service, convenience, and

office smaller-scale buildings, “main street” pedestrian-friendly


ORINDA DOWNTOWN PRECISE PLAN ISSUES

Mixed-use development feasibility

Housing supply / density bonus

Changing retail landscape (e.g. Covidimpact)

Specialty market

Few vacant buildings or parcels

Complicated property ownership

Parking availability / restrictions etc.

Connectivity and “sense of place”Public investments (e.g. creek restoration)

EPS APPROACH AND DIFFERENTIATORS


EPS ROLE: ASSESSING/OPTIMIZING MARKET POTENTIAL

Market Analysis Development Scenarios Financing and Implementation

Demand for residential, retail, office, and hospitality given Civic Core location attributes, demographics, and macro trends

Supply trade-area competition, Civic Core land use and ownership patterns, zoning and infrastructure considerations, etc.

Opportunities for new development considering market factors, policy goals, zoning envelope, key sites, and community desires

Strategies to encourage investment, land assembly, tenant and consumer support, mitigate development risk, and fund civic infrastructure


HOW WE ARE DIFFERENT A holistic and multidisciplinary approach to land

use planning and economic development based on:

– Understanding market forces– Ensuring financial feasibility– Creating effective public policies and

implementation strategies

Perspective from all sides of the land use process

– Private– Public– Non-profits and Institutions

Combining a national perspective with regional knowledge

SELECTED PROJECT EXAMPLES


PROJECT PROFILE: DOWNTOWN WALNUT CREEKSuccessful mixed-use downtown in a mid-sized suburban northern California community

EPS services included:• Retail market study• Financing strategies for public

facilities and amenities• Housing development feasibility• Community benefits analysis


PROJECT PROFILE: MOUNTAIN VIEW

EPS services (2000 – present):• Infill development feasibility• Retail Positioning• Precise Plan + updates• Anti-displacement / housing

redevelopment


PROJECT PROFILE: MISSION VIEJO TOWN CENTEREPS Services: Creating a place and improving linkages (to natural features, civic uses, etc.)

Main Street: Existing Main Street: Vision


PROJECT PROFILE: DOWNTOWN LIVERMORE

EPS Services (1995 – 2017):• Financing Public Improvements (e.g.

theater, streetscape)• P3 Implementation• Market analysis


PROJECT PROFILE: DOWNTOWN PLEASANTON

EPS Role (1995 – 2018):• P3 Implementation• Opportunity Site Analysis• RDA Formation


PROJECT PROFILE: OLD TOWN DANVILLE

EPS Lead w. MIG (2017-2018):

• Real Estate Market Conditions - Retail, Office & Residential

• Financial Feasibility Testing - Local test cases - Acquisition cost estimates - Development pro forma -Feasibility by density

• Town Council Study Session - Analytical findings - Zoning recommendations - Development incentives


PROJECT PROFILE: PASADENA PLAYHOUSE DISTRICT

EPS Role:• Financial feasibility testing for

various design programs• Implications of COVID-19 on

downtown retail

First Place:Home

Third Place:

Second Place:Work


PROJECT PROFILE: SANTA CLARA DOWNTOWN

EPS Role:• Financial feasibility testing for various

design programs and density prototypes• Market analysis


PROJECT PROFILE: CARLSBAD VILLAGE

EPS Role:• Market analysis• Retail market strategy; specialty market

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As a central part of its consulting practice, EPS has helped inform all aspects of planning the evolution, revitalization, and programing of downtowns and other commercial districts. Numerous projects have been completed for cities or other jurisdictions, developers, business associations, and property owners involved in efforts designed to promote economic development, improve public infrastructure and amenities, and attract new residents and customers.

Our work has included technical support and strategies for financing, business retention and attraction, coalition building, and marketing. We employ a variety of market research techniques and analysis to identify realistic development and re-positioning strategies for specific sites and entire districts as well as public financing programs to support delivery of the infrastructure and amenities needed to catalyze investment and ensure sustainable outcomes.

Scope o f W ork fo r On-Ca l l Se rv i c es

As an on-call contract, we understand that precise nature of any assignment will depend on the specific issues that arise over the course of the engagement. That said, we understand that the primary goal of the effort is to provide timely analysis that will support successful implementation of the Downtown Precise Plan from economic, market, and financial perspectives. Many of EPS’s core services are precisely those sought by the City under this RFQ, including:

Real Estate Market Research and Analysis to identify and assess development opportunities through an understanding of local and regional supply and demand dynamics.

Economic Development and Revitalization Strategies to enhance job creation, revenue generation, and physical improvements in the community.

Pro Forma Analysis and Review to develop feasibility analysis to test whether the economics of development (costs and revenues) are expected to yield competitive, risk-based financial returns.

Fiscal and Economic Impact Analysis to project municipal revenues and service demands and costs associated with proposed development as well as direct, indirect, and induced impacts on the local and regional community.

Affordable Housing to inform various dimensions of affordable housing programs and policies, including affordable housing strategies, commercial linkage fees, housing impact fees, inclusionary housing ordinance updates, and in-lieu fee studies.

Development Negotiation Support to establish terms for the lease or sale of property, financing of improvements, and sharing of risks and financial rewards.

Property Valuations using cash flow projections and residual land value analyses to establish reasonable expectations for the proceeds from land disposition and development.

Ground Lease Strategies to be used by public clients for generating fiscal benefits and as a tool to promote economic development; EPS has considerable experience in formulating and structuring ground lease strategies based on valuation results.



Disposition and Development Strategies to assess an organization’s overall real estate portfolio and identify actions likely to yield positive financial and operational results.

Public Infrastructure Financing and Financing Plans for infrastructure, community benefits, and other development components that optimally utilize available tools and resources to yield a feasible project, including impact fees, community facility districts, enhanced infrastructure financing districts, among others.

Community Benefits Analysis to evaluate the trade-offs associated with various requirements or requests that new development provide affordable housing, parks, jobs programs, or similar benefits that can add costs and/or reduce revenues for the developer.

Developer or Tenant Solicitation to draft of RFQs/RFPs, managing correspondence with interested parties, and evaluation of responses.


B. STATEMENT OF QUALIFICATIONS

This section describes EPS’s experience on projects with a similar scope and focus as described in the City’s RFQ. It also describes the methodology that will be used for scheduling, coordination, management of overall project costs, and quality assurance and quality control.

Re leva nt EPS Pro j ec t Exper ienc e

EPS Downtown and Commercial District Projects

EPS has worked on numerous projects with a similar scope and context to those faced in Orinda. Table 1 provides a list of representative projects, followed by detailed project profiles for a number of recently completed consulting assignments.

Table 1 Representative Projects

Mountain View Downtown Retail Assessment and Precise Plan Implementation Palo Alto Downtown Retail Analysis Downtown Napa Specific Plan Downtown Santa Rosa Specific Plan

Walnut Creek Broadway Plaza Shopping District Expansion Analysis Downtown Oakland Community Benefits Analysis Town of Windsor\ Retail Strategy Santa Clara Downtown Precise Plan Los Gatos Downtown Strategic Plan San Bruno Transit Corridor and Downtown Strategic Plan Downtown Redwood City Precise Plan Community Benefits Redwood City El Camino Real Corridor Plan Santa Clara Downtown Plan Palo Alto Downtown Commercial Development Cap Study San Carlos On-Call Economic Development and Housing Services Pasadena Playhouse District Strategic Plan Carlsbad Village Commercial Strategy Doheny Village Commercial Revitalization Strategy Rolling Hills Estates Commercial Village Revitalization Strategy Downtown Rialto Strategic Plan Downtown Duarte Commercial District Revitalization Plan San Clemente Downtown Strategic Plan Hermosa Beach Downtown Market Strategies Chula Vista, CA Bayfront Master Plan Economic Analysis for Mission Viejo Civic Core Vision Plan



Selected Project Profiles

Pleasanton Downtown Specific Plan While relatively successful as a popular eating and drinking destination, downtown Pleasanton’s commercial district lacked a depth or diversity of retail offerings. In addition, the Downtown appeared well below its potential for higher density office and residential uses given the favorable market context and direct access to the Altamont Corridor Express commuter rail service.

EPS served as the land use economist as part of a multidisciplinary team retained by the City to prepare a Specific Plan exploring community support, urban design options, and associated economic feasibility and strategies for its historic downtown. In this role EPS evaluated the market support for office, retail, and residential uses potentially attracted to the downtown setting, tested the development feasibility of various higher density mixed use prototypes. EPS also quantified the fiscal implications of various land use alternatives.

A significant part of the planning effort focused on the development economics associated with redeveloping the City’s existing Civic Center site with private sector investment, using the surplus value to help finance relocation of certain City uses. The City Council approved a Downtown Specific Plan in 2019 that included a privately led, mixed-use development program for the Civic Center site.

Danville Downtown Strategic Plan In 2012, the Danville Town Council authorized the preparation of a Comprehensive Economic Development Plan (CEDP) to examine the Town’s competitiveness and to develop a plan to actively promote economic and fiscal sustainability. The effort was extensive, with significant data analysis and outreach to the Town’s business community and the Town Council. The Town’s consultant team considered local conditions in the context of the regional economy, as well as broad trends in employment growth, trade, and retailing.

The CEDP prepared by EPS details the research and steps the Town will take over the next five years and beyond to ensure the Town’s competitiveness and economic health. The CEDP is intended to be a policy document that sets the foundation for the Town’s ongoing role in local economic development. As a starting point, the Plan recognizes that Danville is constrained by its economic makeup of primarily small businesses, the dominance of residential housing, and limited remaining opportunities for land development. While surrounding cities may attract new employers to new office campuses or regional retail centers, economic development efforts in Danville necessitate a different approach. Rather than pursue economic growth through major development projects, the CEDP seeks to maintain Danville’s fiscal health in a manner that is consistent with the Town’s existing scale and character.

An important aspect of the CEDP is its focus on “Fiscal Drivers.” With great attention to sustaining the Town’s retail competitiveness, the CEDP seeks to support activities that have a positive impact on sales-tax. The strategies and actions to implement this goal both directly and indirectly support sales tax generation. To this end, the CEDP offers strategies to help the Town to (1) achieve corridor center shopping experiences that compete



effectively against regional peers; (2) achieve a well-managed and engaging social, dining, and discretionary shopping environment in the Downtown Business District; and (3) actively track retail and consumer trends and build market and business knowledge among merchants.

Available here: https://www.danville.ca.gov/DocumentCenter/View/367/2016-through-2021-Comprehensive-Economic-Development-Plan-PDF?bidId=

Walnut Creek Real Estate Development and Policy Advisory Services Over the last five years EPS has provided a variety of market, financial, and related technical analysis to the City of Walnut Creek to support their consideration and implementation of various policy and planning initiatives. These services have included the following:

Downtown Specific Plan Financing: EPS identified and evaluated various financing mechanisms and their feasibility to support the infrastructure burden as part of the recently adopted Downtown Specific Plan financing plan.

Development Economics for Selected Downtown Projects: EPS provided development feasibility analysis for selected parcels in the downtown being targeted for redevelopment.

Economic and Fiscal Implications of Broadway Plaza Expansion: EPS evaluated how the proposed expansion of Broadway Plaza would affect the vibrancy of the larger downtown as well as the City’s General Fund.

Affordable Housing Linkage Fee: EPS prepared nexus studies to update the City’s housing and commercial development in lieu fees based on their respective impact on local affordable housing demand and the required funding gaps.

Economic Implications of City Development Fees: EPS evaluated the economic implications of the City’s development impact fees across a range of land uses by comparing them against those charged by peer jurisdictions and estimating their financial “burden” on various real estate development prototypes.

Proposed Methodo logy and Approach

EPS will staff each assignment to bring about the highest quality result at the most efficient cost. While our staff works collaboratively, each project is assigned a project manager, who is available to the client on a day-to-day basis. As the City’s primary point-of-contact, EPS Managing Principal Jason Moody will review all requests for services issued by the City and assemble an appropriate team of consultants with a high-level of expertise and capacity for the work. Because the exact nature and nuance underlying these issues will unfold during the study process, EPS is prepared to participate as a “subject matter expert” on a variety of economic, fiscal, and financial topics relevant to the Precise Plan. The Appendix includes resumes for the key staff assigned to this effort, although others may be called on, given the subject matter at hand.



Based on our participation in numerous on-call consulting assignments, we have found the following general approach to individual assignments as particularly effective:

Effective scoping and “project initiation”: Effective consulting requires that each assignment begins with a clear understanding of the client’s objectives, articulation of desired outcomes, schedule, and type of deliverables, and well-defined roles and responsibilities. EPS generally documents this initial phase of the study with a memorandum to ensure concurrence on the work program, schedule, study process, and identification of intended methodology and data sources. While it is also important to maintain flexibility to adapt to new information, changing circumstances, and on-going findings, the up-front project initiation process ensures that such deviations are deliberative and driven by underlying study goals.

On-going collaboration and status updates: EPS will establish a collaborative work effort that includes regular and open lines of communication with the client and established milestones to ensure progress is being made consistent with expectations and to allow for course correction, as necessary. EPS makes appropriate use of available technology to establish and maintain communication protocols including the use of web-based document handling and “shared” technical modeling.

Application of quality assurance / control protocol (QA/QC). EPS integrates QA/QC protocol in every assignment with multiple levels through both internal and client review prior to finalization of deliverables. Each project is assigned both a Project Manager and Principal-in-Charge who work closely to design and conduct the analysis and review findings. Once completed, EPS draft work products are circulated among other EPS senior staff (Senior Associate or above) not directly involved in the project for independent review and comment. Additionally, preliminary findings and deliverables are provided with amble time for review, to address questions, and incorporate input.

Clear, well-documented, and user-friendly deliverables: EPS strives to provide deliverables that are objective, transparent, and easily digestible for stakeholders from a variety of backgrounds. Transparency allows all stakeholders to understand assumptions, calculations, and the logic behind conclusions, and allows healthy dialogue on important policy considerations. Objectivity ensures that positional advocacy does not cloud judgment and lead to faulty conclusions or projections.



C. LIST OF REFERENCES

Jill Bergman, Town of Danville Economic Development Manager Phone: 925-314-3369 E-mail: [email protected] Andrew M. Smith, City of Walnut Creek Senior Planner, Long Range & Transportation Planning Community & Economic Development Department Phone: 925-943-5899 x2213 E-mail: [email protected] Schweta Bonn, City of Pleasanton Senior Planner, Community Development Phone: 925-931-5611 E-mail: [email protected] Martin Romo, City of San Carlos Economic Development Coordinator Phone: (650) 802-4267 Email: [email protected] Darcy Smith, City of San Bruno Community and Economic Development Director Phone: (650) 616-7039 Email: [email protected] Tiffany Chew, City of Mountain View Business Development Specialist Phone: (650) 903-6300 Email: [email protected] Leslie Parks, City of Redwood City Interim Housing Manager Phone: 650 780-7299 Email: [email protected]

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SELECTED PROJECT MANAGEMENT EXPERIENCE (CONTINUED)

Redwood City El Camino Real Corridor Plan EPS evaluated market and development feasibility issues relevant to implementing a comprehensive revitalization plan along the El Camino Real corridor in Redwood City.

Downtown Napa Specific Plan EPS provided market and development feasibility analysis to assist with planning and revitalization strategies as part of the Downtown Napa Specific Plan. The City’s downtown has advanced significantly as a vibrant, mixed-use district since approval of the Plan in 2010.

Hayward Downtown Specific Plan EPS evaluated development feasibility issues and strategies to support a Specific Plan effort designed to revitalize a historic and strategically located downtown with an existing BART station.

Downtown Gilroy Monterey Street Revitalization Strategy EPS provided a comprehensive commercial revitalization strategy, based on market analysis and stakeholder input, for Monterey Street, located at the terminus Caltrans rail service and serving as the “spine” of downtown Gilroy, a rapidly transforming, a high-cost bedroom community to Silicon Valley.

Downtown Sebastopol Specific Plan EPS provided market analysis and a financing strategy for the redevelopment of an underutilized warehouse district located in downtown Sebastopol into a mixed-use, pedestrian oriented town center serving local residents as well as visitors to California’s Wine Country.

Carlsbad Village Retail Position and Revitalization Strategy EPS evaluated the retail position of the historic core in this suburban oriented beach-town in northern San Diego County as a basis for formulating a long-term growth strategy that affectively aligned with evolving changes in consumer behavior and competitive trends.

Mission Viejo Civic Core Strategic Plan and Visioning Effort EPS served as the lead economist on a multi-disciplinary team retained by the City of Mission Viejo to strategically redevelop its civic and commercial core. The EPS evaluated opportunities and strategies to re-position a relatively antiquated cluster of retail centers so that they would better adapt to emerging trends in consumer shopping patterns.

Downtown San Clemente Development Framework EPS provided market analysis and financial feasibility testing of targeted opportunity sites to support a Development Framework document intended to guide planning efforts for downtown San Clemente, a historic beach town in Southern California.

BAPDA Strategies for a Thriving Downtown Presentation Mr. Moody provided a presentation at before the Bay Area Planning Directors Association members in Spring 2017 that providing a typology and planning context for the region’s downtowns.

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SELECTED PROJECT EXPERIENCE (CONTINUED)

City of Dublin Economic Development Strategy Project manager and senior economist for the City of Dublin’s first economic development strategy. Ben oversaw all aspects of the project including economic and real estate analyses, outreach efforts, and report development. He presented research and findings at numerous public forums, including City Council meetings, Planning Commission meetings, public work sessions, and executive round table events. Since its completion, the City has been implementing the plan, including the recent completion of a comprehensive marketing and branding effort for the City.

City of Scotts Valley Economic Development Strategy Framework Principal in Charge of the City’s recent Economic Development Strategy Framework study. Ben identified the strengths and opportunities within the city, and acknowledged weaknesses and threats that must be addressed. Leveraging local expertise, this study summarizes existing conditions and offers high-level recommendations concerning potential economic development efforts intended to sustain or improve the City’s competitive position in the region, to attract new jobs, grow its economic base, and improve its fiscal condition. The Economic Development Strategy Framework provides City staff a resource to guide more detailed study and economic development activities over the next several years.

Infill Development Finance Study Project manager and senior economist for a study of existing and potential financing tools for infill development, for the State of California’s Strategic Growth Council. Ben conducted an overview of current infill development financing instruments and performed case study analysis to test their efficacy. Ben also made recommendations concerning potential new and refined infill financing mechanisms.

Redwood City Community Benefits Frameworks Senior economist consulting on the development of a community benefits framework for the City of Redwood City. Ben analyzed local real estate development economics and advised the City on the economic potential for new real estate projects to contribute community benefits. In particular, Ben evaluated the opportunity to establish an incentive zoning program for the City’s Inner Harbor area.

City of Cupertino Community Benefits Advisory Services Senior economist assisting the City of Cupertino with evaluation of community benefits programs and options for evaluating proposed General Plan Amendments, as well as the recent Vallco Town Center Specific Plan. Ben conducted extensive research concerning community benefits programs in California, providing the City with a white paper on the topic. Ben also conducted a range of financial analyses to evaluate the potential for Cupertino projects (including residential, office, and hotel projects) to yield additional public benefits.

City of Sunnyvale Peery Park Community Benefits Program Senior economist consulting on the development of incentive zoning potentially to be included in the City of Sunnyvale’s Peery Park Specific Plan. Ben analyzed the economic value created by up-zonings contemplated by the proposed Plan. In collaboration with City staff, he identified a range of real estate development scenarios including higher density allowances that might be made available through incentive zoning. Ben’s financial analysis considered a range of potential development scenarios and including sensitivity results to evaluate key market uncertainties.

Port of San Francisco Waterfront Land Use Plan Real Estate Advisory Project manager of a multidisciplinary team including architects and historic preservation experts considering reuse potential of pier shed facilities on San Francisco’s Embarcadero. Ben’s work has involved detail study of market trends and financial feasibility of mixed-use project development. A particular focus of the work has been on the physical and financial feasibility of hotel development on the waterfront.

Economic & Planning Systems, Inc. T h e E c o n o m i c s o f L a n d U s e

One Kaiser Plaza, Suite 1410 Oakland, CA 94612 510.841.9190 [email protected] www.epsys.com

Kate Traynor Senior Associate

Education

Master of Urban and Regional Planning, University of California, Los Angeles, 2017

Bachelor of Arts, Latin American Studies and Economics, Oberlin College, 2009

Previous Employment

Senior Analyst, Harvey Rose Associates, LLC, San Francisco, CA (2017-2019)

Research Associate – Housing, UCLA Lewis Center for Regional Policy Studies (2016-2017)

Analyst, Federal Practice Group (FPG), Washington, DC (2013-2015)

Development Coordinator, National Low-Income Housing Coalition, Washington, DC (2011-2013)

Market Research Associate, LDS Consulting Group, Newton, MA (2010-2011)

Program Assistant, Juneau Economic Development Council, Juneau, AK (2009-2010)

ABOUT

Kate Traynor joined Economic and Planning Systems, Inc. (EPS) in Summer 2019, bringing professional experience in affordable housing preservation, fiscal impact analysis, real estate market research, and spatial analysis. Her experience spans federal pilot program implementation, public-private partnerships, housing finance, and city budgeting. Before joining EPS, Kate was a Senior Analyst at Harvey Rose Associates, LLC.

SELECTED PROJECT EXPERIENCE

Santa Clara Downtown Precise Plan EPS is providing strategic market and development feasibility analysis to support a Precise Plan for Downtown Santa Clara. EPS is evaluating the market and financial feasibility of various redevelopment options for an eight-block area in the historic downtown.

City of Brisbane Baylands Major Site Reuse The project sponsor of the Baylands redevelopment brought on EPS to support the drafting of the Baylands Specific Plan. EPS provided a range of real estate services for one of the largest reuse sites in the Bay Area. Services include financial feasibility and market analysis, fiscal impact assessment, analysis of public and private financing sources, including CFD and EIFD bonding capacity, and negotiations support for the mixed-use, transit-oriented development that is envisioned to deliver 12 million square feet of new space.

City of Sunnyvale Lawrence Station Area Plan Fiscal Impact and Residual Land Value Analysis The City of Sunnyvale engaged EPS to analyze the fiscal effects attributable to the Station Area under the existing Plan as well as under a proposed increased density Plan intended to spur residential development. EPS developed static fiscal models comparing the impacts of transit oriented development in the station area under multiple density programs. EPS also created housing development pro formas at varying density levels, in order to provide an understanding of the station area’s residual land value and the likelihood of redevelopment under the different scenarios.

City of San Francisco Chase Center Transportation Improvement Fund Analysis The City of San Francisco’s Controller sought technical assistance in determining the amount of revenue that the Mission Bay Transportation Improvement Fund and therefore the maximum amount the San Francisco Municipal Transportation Agency and other receiving departments, could receive to pay for capital and operating expenditures required to provide services associated with Chase Center events. EPS generated attendance projections, transit usage, and estimates for all tax revenues by use type then sized the share of funding needed in order to covering area capital and operating costs.

downtown precise plan on-call services: economics

Documents