Baylands Fiscal Analysis to be Completed

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NEWS RELEASE
FOR IMMEDIATE RELEASE
JANUARY 17, 2018
 
Contact:
Caroline Cheung
415-508-2157 / ccheung@brisbaneca.org
 
 
BRISBANE CITY COUNCIL VOTES TO DIRECT STAFF TO CONDUCT FISCAL ANALYSIS OF BAYLANDS DEVELOPMENT SCENARIOS
 
BRISBANE, CA -- At their January 16, 2018 Council meeting, the Brisbane City Council voted to direct city staff and consultants to undertake a fiscal analysis of potential development scenarios that include varying amounts of housing in the proposed Baylands development project.  Specifically, Council directed staff to work with financial consultants to come back with three different ranges of housing vs. development of non-residential areas, looking at scenarios involving a range of 1,000 - 2,200 residential units, 2 - 6 million sq. ft. of non-residential building area, and to determine the financial consequences of the various scenarios.
 
"This analysis should help the City Council better understand how potential development scenarios of the Baylands, including a residential component, could ensure that the costs to the City of providing services and maintaining public facilities and infrastructure for any project are offset by the revenues to the City generated by the project," noted the staff report issued by John Swiecki, City Development Manager and City Attorney Michael Roush via City Manager Clay Holstine.  
 
"The analysis would consider residential with accompanying non-residential components for the Baylands to address how development could be managed such that the Baylands generates marginally more revenue than costs for the City, and how individual increments of development (including those that proposed for residential use) can be managed to be, at a minimum, revenue-neutral for the City," according to the staff report.  
 
The report concluded that "the analysis should help inform the City Council's decision making process going forward as to what different development scenarios (each with varying ranges of residential and nonresidential development) would mean for the City."  
 
This analysis is expected to be completed and presented to the City Council for consideration at its March 1, 2018 meeting.
 
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