Staff presented the draft Economic Feasibility Memo prepared by EPS, the economic consultant for the DPP. The memo addressed three components:
Development Feasibility - What type of allowable development is likely to generate financial returns sufficient to induce real estate investment in the DPP over the long-term given foreseeable market conditions?
Long-term Growth Projections - How much growth can reasonably be expected through build-out of the DPP under proposed zoning and other land use regulations?
Fiscal Implications - How will new development affect the City's General Fund budget over time?
Staff Recommendation - Staff recommended the City Council receive the staff report and provide feedback on the draft Development Feasibility Memo.
Action - The Council provided feedback and no action was taken.
Meeting Links
Meeting Agenda (Item H.1)