ATTACHMENT J
ECONOMIC IMPACT ANALYSIS
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CITY OF SAN MARCOS
RESTAURANT ROW
ECONOMIC IMPACT ANALYSIS - (APPROVED PLAN)
RECURRING JOBS
RECURRING IMPACTS
ONE-TIME JOBS
ONE TIME IMPACTS
JOB HOUSING BALANCE
SUMMARY
EXHIBIT 1A
RESTAURANT ROW
RECURRING EMPLOYMENT - APPROVED PLAN
ASSUMPTIONS
I. RESIDENTIAL LAND USE ASSUMPTIONS
LAND USE CATEGORY UNITS
TOWNHOMES 173
II. NON-RESIDENTIAL LAND USE ASSUMPTIONS
LAND USE CATEGORY1 EMPLOYEES/1,000 SQ. FT.2 SQ. FT.1
IN LINE COMMERCIAL RETAIL 0.82 10,400
OFFICE AND PARKING 2.88 28,436
38,836
RECURRING EMPLOYMENT
III. CITY
DIRECT EMPLOYEES3 INDIRECT EMPLOYEES4 INDUCED EMPLOYEES4 TOTAL EMPLOYEES IN LINE COMMERCIAL RETAIL 9 1 1 11
OFFICE AND PARKING 82 20 18 120
TOWNHOMES 0 0 0 0
TOTAL RECURRING EMPLOYMENT 91 21 19 131
NOTES:
* All figures subject to rounding
4 Source: San Marcos City IMPLAN multipliers.
1 Source: City of San Marcos.
2 Commercial Buildings Energy Consumption Survey (CBECS), 2018. 3 Based on multiplying Category SF by Employees/1,000 SF metric.
EXHIBIT 2A
RESTAURANT ROW
RECURRING ECONOMIC IMPACTS - APPROVED PLAN
ASSUMPTIONS
% INCOME SPENT TOTAL RESIDENT
I. RESIDENTIAL SPENDING ASSUMPTIONS HOUSEHOLD INCOME IN CITY SPENDING / YR.
TOWNHOMES $138,573 28.07% $3,364,985
II. NON-RESIDENTIAL OUTPUT ASSUMPTIONS AVERAGE OUTPUT / EMPLOYEE1 OUTPUT / YR.1 IN LINE COMMERCIAL RETAIL $67,385 $606,469
OFFICE AND PARKING $127,446 $10,450,544
RECURRING OUTPUT
III.CITY
DIRECT OUTPUT INDIRECT OUTPUT 1 INDUCED OUTPUT 1 TOTAL OUTPUT IN LINE COMMERCIAL RETAIL $606,469 $112,844 $163,361 $882,674 OFFICE AND PARKING $10,450,544 $2,248,759 $2,839,983 $15,539,285 TOWNHOMES $3,364,985 $724,081 $914,450 $5,003,516
TOTAL RECURRING OUTPUT $14,421,998 $3,085,683 $3,917,793 $21,425,475 NOTES:
* All figures subject to rounding
1 Source: San Marcos City IMPLAN multipliers.
EXHIBIT 3A
RESTAURANT ROW
ONE-TIME EMPLOYMENT -APPROVED PLAN
ASSUMPTIONS
I. RESIDENTIAL LAND ASSUMPTIONS UNITS
TOWNHOMES 173
II. NON-RESIDENTIAL LAND USE ASSUMPTIONS SQ. FT.
IN LINE COMMERCIAL RETAIL 10,400
OFFICE AND PARKING 28,436
III. PUBLIC FACILITIES TOTAL COST
PROJECT INFRASTRUCTURE NA
ONE-TIME EMPLOYMENT
IV. CITY
DIRECT EMPLOYEES 1 INDIRECT EMPLOYEES 1 INDUCED EMPLOYEES 1 TOTAL EMPLOYEES IN LINE COMMERCIAL RETAIL 26 4 6 36
OFFICE AND PARKING 48 8 12 68
TOWNHOMES 170 63 47 281
TOTAL ONE-TIME EMPLOYEES 244 75 66 385
NOTES:
* All figures subject to rounding
1 Source: San Marcos City IMPLAN multipliers (IMPLAN Sector 58: Construction of new non-residential structures).
EXHIBIT 4A
RESTAURANT ROW
ONE-TIME IMPACTS - APPROVED PLAN
ASSUMPTIONS
ESTIMATED
I. RESIDENTIAL CONSTRUCTION COST ASSUMPTIONS UNITS COST PER SQ. FT. COST PER UNIT TOWNHOMES 173 1012 to 1721 $175,000
II. NON-RESIDENTIAL CONSTRUCTION COST ASSUMPTIONS IMPROVEMENT VALUE1 CONSTRUCTION COST PER SQ. FT.
IN LINE COMMERCIAL RETAIL $3,810,040 $366
OFFICE AND PARKING $7,251,180 $255
III. PUBLIC FACILITIES TOTAL COST
PROJECT INFRASTRUCTURE NA
ONE-TIME OUTPUT
IV. CITY
DIRECT OUTPUT INDIRECT OUTPUT 2 INDUCED OUTPUT 2 TOTAL OUTPUT IN LINE COMMERCIAL RETAIL $3,810,040 $657,707 $848,515 $5,316,263 OFFICE AND PARKING $7,251,180 $1,359,853 $1,591,067 $10,202,100 TOWNHOMES $30,275,000 $8,148,097 $6,398,502 $44,821,598 TOTAL ONE-TIME OUTPUT $41,336,220 $10,165,657 $8,838,085 $60,339,961 NOTES:
1 Assumes that improvement value is approximately 85% of total valuation. 2 Source: San Marcos City IMPLAN multipliers (IMPLAN Sector 58: Construction of new non-residential structures). * All figures subject to rounding
EXHIBIT 5A
RESTAURANT ROW
JOBS-HOUSING BALANCE - APPROVED PLAN
ASSUMPTIONS
I. EXISTING DEMOGRAPHICS
CITY OF SAN MARCOS
HOUSING UNITS 1 32,000
EMPLOYEES 2 41,400
II. JOB IMPACTS 3
CITY OF SAN MARCOS
DIRECT IMPACT 91
ADDITIONAL INDIRECT 21
ADDITIONAL INDUCED 19
TOTAL 131
III. CUMULATIVE PROJECT DEMOGRAPHICS
EXISTING HOUSING UNITS PLUS PROJECT - CITY OF SAN MARCOS 32,173 PERCENTAGE INCREASE 0.54%
EXISTING EMPLOYEES PLUS PROJECT - CITY OF SAN MARCOS 41,531 PERCENTAGE INCREASE 0.32%
JOBS-HOUSING BALANCE
IV. JOBS-HOUSING BALANCE
CITY OF SAN MARCOS
EXISTING 1.29
EXISTING WITH PROJECT 1.29
PERCENTAGE INCREASE -0.22%
NOTES:
1 Source: State of California, Department of Finance, E-5 Population and Housing Estimates for Cities, Counties, and the State (2022). * All figures subject to rounding
2 Source: California Employment Development Department ("EDD") - Labor Market Information Division. 3 Please see Exhibit B-1: Recurring Jobs.
EXHIBIT 6A
RESTAURANT ROW
SUMMARY - APPROVED PLAN
ASSUMPTIONS
I. RESIDENTIAL LAND USE ASSUMPTIONS UNITS
TOWNHOMES 173
II. NON-RESIDENTIAL LAND USE ASSUMPTIONS EMPLOYEES/1,000 SQ. FT. SQ. FT.
IN LINE COMMERCIAL RETAIL 0.82 10,400
OFFICE AND PARKING 2.88 28,436
ECONOMIC IMPACTS CONCLUSIONS
RECURRING IMPACTS
III. JOB CREATION DIRECT INDIRECT/INDUCED TOTAL
CITYWIDE 91 40 131
IV. TOTAL OUTPUT DIRECT INDIRECT/INDUCED TOTAL
CITYWIDE $14,421,998 $7,003,477 $21,425,475
ONE-TIME IMPACTS
V. CONSTRUCTION JOBS DIRECT INDIRECT/INDUCED TOTAL
CITYWIDE 244 141 385
VI. CONSTRUCTION OUTPUT DIRECT INDIRECT/INDUCED TOTAL
CITYWIDE $41,336,220 $19,003,741 $60,339,961
OTHER IMPACTS
BALANCE BALANCE % INCREASE/
VII. JOBS-HOUSING BALANCE EXISTING WITH PROJECT (DECREASE) CITYWIDE 1.29375 1.29087 -0.22%
CITY OF SAN MARCOS
RESTAURANT ROW
ECONOMIC IMPACT ANALYSIS - (PROPOSED PLAN)
RECURRING JOBS
RECURRING IMPACTS
ONE-TIME JOBS
ONE TIME IMPACTS
JOB HOUSING BALANCE
SUMMARY
EXHIBIT 1b
RESTAURANT ROW
RECURRING EMPLOYMENT - PROPOSED PLAN
ASSUMPTIONS
I. RESIDENTIAL LAND USE ASSUMPTIONS
LAND USE CATEGORY UNITS
TOWNHOMES 202
II. NON-RESIDENTIAL LAND USE ASSUMPTIONS
LAND USE CATEGORY1 EMPLOYEES/1,000 SQ. FT.2 SQ. FT.1
IN LINE COMMERCIAL RETAIL 0.82 10,400
10,400
RECURRING EMPLOYMENT
III. CITY
DIRECT EMPLOYEES3 INDIRECT EMPLOYEES4 INDUCED EMPLOYEES4 TOTAL EMPLOYEES TOWNHOMES 0 0 0 0
IN LINE COMMERCIAL RETAIL 9 1 1 11
TOTAL RECURRING EMPLOYMENT 9 1 1 11
NOTES:
* All figures subject to rounding
1 Source: City of San Marcos.
2 Commercial Buildings Energy Consumption Survey (CBECS), 2018. 3 Based on multiplying Category SF by Employees/1,000 SF metric. 4 Source: San Marcos City IMPLAN multipliers.
EXHIBIT 2b
RESTAURANT ROW
RECURRING ECONOMIC IMPACTS - PROPOSED PLAN
ASSUMPTIONS
% INCOME SPENT TOTAL RESIDENT
I. RESIDENTIAL SPENDING ASSUMPTIONS HOUSEHOLD INCOME IN CITY SPENDING / YR.
TOWNHOMES $138,092 28.07% $3,915,387
II. NON-RESIDENTIAL OUTPUT ASSUMPTIONS AVERAGE OUTPUT / EMPLOYEE1 OUTPUT / YR.1 IN LINE COMMERCIAL RETAIL $67,385 $606,469
RECURRING OUTPUT
III.CITY
DIRECT OUTPUT INDIRECT OUTPUT 1 INDUCED OUTPUT 1 TOTAL OUTPUT TOWNHOMES $3,915,387 $852,618 $140,284 $4,908,289
IN LINE COMMERCIAL RETAIL $606,469 $112,844 $163,361 $882,674 TOTAL RECURRING OUTPUT $4,521,856 $965,462 $303,645 $5,790,963 NOTES:
* All figures subject to rounding
1 Source: San Marcos City IMPLAN multipliers.
EXHIBIT 3b
RESTAURANT ROW
ONE-TIME EMPLOYMENT - PROPOSED PLAN
ASSUMPTIONS
I. RESIDENTIAL LAND ASSUMPTIONS UNITS
TOWNHOMES 202
II. NON-RESIDENTIAL LAND USE ASSUMPTIONS SQ. FT.
IN LINE COMMERCIAL RETAIL 10,400
III. PUBLIC FACILITIES TOTAL COST
PROJECT INFRASTRUCTURE NA
ONE-TIME EMPLOYMENT
IV. CITY
DIRECT EMPLOYEES 1 INDIRECT EMPLOYEES 1 INDUCED EMPLOYEES 1 TOTAL EMPLOYEES TOWNHOMES 198 74 55 328
IN LINE COMMERCIAL RETAIL 26 4 6 36
TOTAL ONE-TIME EMPLOYEES 224 78 62 364
NOTES:
* All figures subject to rounding
1 Source: San Marcos City IMPLAN multipliers (IMPLAN Sector 58: Construction of new non-residential structures).
EXHIBIT 4b
RESTAURANT ROW
ONE-TIME IMPACTS - PROPOSED PLAN
ASSUMPTIONS
ESTIMATED
I. RESIDENTIAL CONSTRUCTION COST ASSUMPTIONS UNITS SQ. FT. PER DWELLING UNIT COST PER UNIT TOWNHOMES 202 1012 to 1721 $175,000
II. NON-RESIDENTIAL CONSTRUCTION COST ASSUMPTIONS IMPROVEMENT VALUE1CONSTRUCTION COST PER SQ. FT.
IN LINE COMMERCIAL RETAIL $3,810,040 $366
III. PUBLIC FACILITIES TOTAL COST
PROJECT INFRASTRUCTURE NA
ONE-TIME OUTPUT
IV. CITY
DIRECT OUTPUT INDIRECT OUTPUT 2 INDUCED OUTPUT 2 TOTAL OUTPUT TOWNHOMES $35,350,000 $9,513,962 $7,471,083 $52,335,046 IN LINE COMMERCIAL RETAIL $3,810,040 $657,707 $848,515 $5,316,263 TOTAL ONE-TIME OUTPUT $39,160,040 $10,171,670 $8,319,598 $57,651,308 NOTES:
1 Assumes that improvement value is approximately 85% of total valuation. 2 Source: San Marcos City IMPLAN multipliers (IMPLAN Sector 58: Construction of new non-residential structures). * All figures subject to rounding
EXHIBIT 5b
RESTAURANT ROW
JOBS-HOUSING BALANCE - PROPOSED PLAN
ASSUMPTIONS
I. EXISTING DEMOGRAPHICS
CITY OF SAN MARCOS
HOUSING UNITS 1 32,000
EMPLOYEES 2 41,400
II. JOB IMPACTS 3
CITY OF SAN MARCOS
DIRECT IMPACT 9
ADDITIONAL INDIRECT 1
ADDITIONAL INDUCED 1
TOTAL 11
III. CUMULATIVE PROJECT DEMOGRAPHICS
EXISTING HOUSING UNITS PLUS PROJECT - CITY OF SAN MARCOS 32,202 PERCENTAGE INCREASE 0.63%
EXISTING EMPLOYEES PLUS PROJECT - CITY OF SAN MARCOS 41,411 PERCENTAGE INCREASE 0.03%
JOBS-HOUSING BALANCE
IV. JOBS-HOUSING BALANCE
CITY OF SAN MARCOS
EXISTING 1.29
EXISTING WITH PROJECT 1.29
PERCENTAGE INCREASE -0.60%
NOTES:
1 Source: State of California, Department of Finance, E-5 Population and Housing Estimates for Cities, Counties, and the State (2022). * All figures subject to rounding
2 Source: California Employment Development Department ("EDD") - Labor Market Information Division. 3 Please see Exhibit B-1: Recurring Jobs.
EXHIBIT 6B
RESTAURANT ROW
SUMMARY - PROPOSED PLAN
ASSUMPTIONS
I. RESIDENTIAL LAND USE ASSUMPTIONS UNITS
TOWNHOMES 202
II. NON-RESIDENTIAL LAND USE ASSUMPTIONS EMPLOYEES/1,000 SQ. FT. SQ. FT.
IN LINE COMMERCIAL RETAIL 0.82 10,400
ECONOMIC IMPACTS CONCLUSIONS
RECURRING IMPACTS
III. JOB CREATION DIRECT INDIRECT/INDUCED TOTAL
CITYWIDE 9 2 11
IV. TOTAL OUTPUT DIRECT INDIRECT/INDUCED TOTAL
CITYWIDE $4,521,856 $1,269,107 $5,790,963
ONE-TIME IMPACTS
V. CONSTRUCTION JOBS DIRECT INDIRECT/INDUCED TOTAL
CITYWIDE 224 139 364
VI. CONSTRUCTION OUTPUT DIRECT INDIRECT/INDUCED TOTAL
CITYWIDE $39,160,040 $18,491,268 $57,651,308
OTHER IMPACTS
BALANCE BALANCE % INCREASE/
VII. JOBS-HOUSING BALANCE EXISTING WITH PROJECT (DECREASE) CITYWIDE 1.294 1.286 -0.60%