CITY COUNCIL AND PLANNING
COMMISSION
Alma Hernandez, Mayor
Jenalee Dawson, Mayor Pro Tem
Amit Pal, Councilmember
Parise Shepherd, Councilmember
Princess Washington, Councilmember
Albert Enault, Chair
Kristina Elder, Vice Chair
Herbert Dardon, Commissioner
Terrence
West, Commissioner
CITY COUNCIL AND PLANNING
COMMISSION MEETING
A G E N D A
SPECIAL JOINT MEETING OF THE
SUISUN CITY COUNCIL AND PLANNING COMMISSION
TUESDAY, MARCH
4, 2025
6:30 PM
Suisun City Council Chambers - 701 Civic Center Boulevard - Suisun City, California
.
6:30 P.M.
(OR IMMEDIATELY FOLLOWING THE REGULAR MEETING OF THE SUISUN CITY COUNCIL)
MEETINGS ARE HELD IN-PERSON,
PUBLIC PARTICIPATION IS ALSO AVAILABLE VIA ZOOM
ZOOM MEETING INFORMATION:
WEBSITE: https://zoom.us/join
MEETING ID:
848 9027 0480
CALL IN PHONE NUMBER: (707) 438-1720
REMOTE PUBLIC COMMENT IS AVAILABLE FOR THE CITY COUNCIL MEETING BY EMAILING [email protected] (PRIOR TO 5 PM), VIA WEBSITE, OR ZOOM CALL IN PHONE NUMBER (707) 438-1720
(If attending the meeting via phone press *9 to raise your hand and *6 to unmute/mute for public comment.)
(Next Ord. No. – 818)
(Next City Council Res. No. 2025 – 18)
(Next Suisun City Council Acting as Successor Agency Res. No. SA2025 - 02) (Next Housing Authority Res. No. HA2025 – 02)
CALL TO ORDER
Mayor Hernandez
ROLL CALL
Councilmembers / Planning Commissioners
1 1.
Review and Provide Directions to Staff and Kosmont & Associates, Inc. on the Draft Waterfront District Specific Plan Economic Development Strategy and Implementation Plan - (Prebula: [email protected]).
APPROVAL OF REORDERING OF AGENDA
CONFLICT OF INTEREST NOTIFICATION
(Any items on this agenda that might be a conflict of interest to any Councilmembers / Commissioners should be identified at this time.)
PUBLIC COMMENT
(Request by citizens to discuss any matter under our jurisdiction other than an item posted on this agenda per California Government Code §54954.3. Comments are limited to no more than 3 minutes unless allowable by the Mayor/Chair.
Speaker cards are available on the table near the entry of the meeting room and should be given to the City Clerk. By law, no prolonged discussion or action may be taken on any item raised during the public comment period, although informational answers to questions may be given and matters may be referred for placement on a future agenda.)
GENERAL BUSINESS
COUNCIL/PLANNING COMMISSION COMMENTS
ADJOURNMENT
Public Access To Agenda Documents
A complete packet of information containing staff reports and exhibits related to each item for the open session of this meeting, and provided to the City Council, are available for public review at least 72 hours prior to a Council /Agency/Authority Meeting at Suisun City Hall 701 Civic Center Blvd., Suisun City. Agenda related writings or documents provided to a majority of the Council/Board/Commissioners less than 72 hours prior to a Council/Agency/Authority meeting related to an agenda item for the open session of this meeting will be made available for public inspection during normal business hours. An agenda packet is also located at the entrance to the Council Chambers during the meeting for public review. The city may charge photocopying charges for requested copies of such documents. To the extent feasible, the agenda packet is available for online public viewing on the City’s website: https://www.suisun.com/Government/City-Council/Agendas
The City Council/Agency/Authority hopes to conclude its public business by 10:00 p.m. No new items will be taken up after 10:00 p.m., unless so moved by a majority of the City Council, and any items remaining will be agendized for the next meeting. The agendas have been prepared with the hope that all items scheduled will be discussed within the time allowed.
Accommodations
If you require an accommodation to participate in this meeting, please contact the City Clerk at (707) 421-7302 or [email protected]. The City’s reasonable accommodation policy is available for review on the City’s website at www.suisun.com/government/city-council/, you may request an electronic copy or have a copy mailed to you.
Please note that for accommodations that are not readily available, you must make your request as soon as you can prior to the time of the meeting.
Decorum
All participants are expected to conduct themselves with mutual respect. Conduct that disrupts meetings will be addressed in accordance with Section 54957.95 of the Government Code.
Ordinances
Ordinances are city laws contained in the Suisun City Municipal Code. Enacting a new city law or changing an existing one is a two-step process. Government Code 36934 provides, except when, after reading the title, further reading is waived by regular motion adopted by majority vote all ordinances shall be read in full either at the time of introduction or passage; provided, however, that a reading of the title or ordinance shall not be required if the 2 title is included on the published agenda and a copy of the full ordinance is made available to the public online and in print at the meeting prior to the introduction or passage.
Certification Of Posting
Agendas for regular and special meetings are posted in accordance with the Brown Act at Suisun City Hall, 701 Civic Center Boulevard, Suisun City, CA. Agendas may be posted at other Suisun City locations including:
Suisun City Fire Station, 621 Pintail Drive, Suisun City, CA; Joe Nelson Center, 611 Village Drive, Suisun City, CA;
Harbor Master Office, 800 Kellogg Street, Suisun City, CA.
I, Ashley Nash, Administrative Assistant II for the City of Suisun City, declare under penalty of perjury that the above agenda was posted and available for review, in compliance with the Brown Act.
3 THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK
4 AGENDA ITEM NO. 1.
AGENDA TRANSMITTAL
MEETING DATE:
March
4, 2025
AGENDA ITEM:
Review and Provide Directions to Staff and Kosmont & Associates, Inc. on the Draft Waterfront District Specific Plan Economic Development Strategy and Implementation Plan.
FISCAL IMPACT:
The total cost for retaining the firm Kosmont & Associates, Inc (Kosmont) to prepare and complete the Waterfront Specific Plan Economic Development Strategy and Implementation Plan totals $125,000.
STRATEGIC PLAN:
Provide Good Governance; Develop Sustainable Economy; Enhance the Environment.
BACKGROUND:
The City received grant funding to complete a comprehensive update (amendments) to the Waterfront District Specific Plan to accelerate housing production and affordability while being consistent with state planning principles. After several meetings, including joint meetings with the City Council and Planning Commission and a public hearing with the Planning Commission, including input from the community contemplating the proposed amendments to the specific plan, the City determined that further economic and fiscal analysis is needed to guide the future outcome and implementation of the plan.
Considering the feedback, staff has concluded that our approach to economic development in the Waterfront District Specific Plan area should rely on data and strategic information, the draft Economic Development Strategy and Implementation Plan will provide such information. This process will provide important insights into the types of commercial development that will bring the most benefit, the necessary housing to support this development, the timing of development, and the required infrastructure improvements.
STAFF REPORT:
The City is facing a potential structural budget deficit in the coming years, and decisive policy action will be required to support positive levels of municipal services for residents and other community members in the future. To enable and unlock the full potential of the Downtown Waterfront area, the City must leverage the planning and land use guidance and real estate assets to reflect tangible market and economic conditions that support fiscal solvency. This initiative and evaluation require a multifaceted level of expertise typically found in full-service real estate/economic advisory firms that specialize in real estate advisory services and land use economics strategies. The City has contracted with Kosmont & Associates to assist with this initiative.
Kosmont, a certified Minority Business Enterprise (MBE) and Small Business Enterprise (SBE), is a full-service local government, economics, and real estate advisory firm with a 38-year track record of working with cities and public agencies on precisely these types of specialized services, as well as the management of real estate and public finance transactions exceeding $10 billion. This knowledge has 5 allowed Kosmont and Associates to provide the attached report, using detailed data analysis and market information to provide insight and proposed implementation.
In summary, the Economic Development Strategic Plan (EDSP) provides an overview of the economic and real estate market conditions facing Suisun City presently and moving forward. The EDSP further provides a suggested roadmap for the City to leverage local, regional, and national trends along with the City’s own strengths and assets to pursue economic development and fiscal resilience. Key points of emphasis include:
Long-term fiscal and economic health relies on a balance of housing, employment, and entertainment land uses that supports a diversified revenue base; City’s resident and business profile, along with real estate market analysis, suggest that opportunities exist to capture a greater portion of resident and employee spending within the City; Addition of new housing units will be critical to support the feasibility of attracting new commercial retail and entertainment uses, and also retaining and expanding existing
businesses;
Housing should not be viewed as a fiscal “loss-leader” in today’s market, but rather as a growth- driver, particularly given increasing work-from-home and e-commerce trends; Blended-use formats
will be required in order to achieve financial feasibility for new development, particularly near fixed transit stations;
General fund fiscal impact analysis illustrates that activation of several key development opportunity sites within the City can provide sustainable revenue generation; Successful economic development will require that the City leverage its real estate assets and other strengths, available funding and financing tools, and the recruitment of qualified private- sector partners.
As has been previously discussed, the outcome of successfully implementing the economic infill plan, will not be enough net tax dollars to address the operational needs, especially if we look to get to normalized staffing levels for our population size, nor will it allow address to address the millions of dollars required for capital needs such as Roads, Fire Station, City Hall, and Police Station, among others. This plan highlights the opportunities but also identifies that Suisun City must find other ways to increase its revenue base to be a resilient, well serviced city.
STAFF RECOMMENDATION:
It is recommended that the City Council provide direction to staff and tentatively adopt the Economic Development Strategy and Implementation Plan.
DOCUMENTS ATTACHED:
1. Suisun City Econ Market Analysis Summary - Presentation
PREPARED BY:
Bret Prebula, City Manager
ATTACHMENTS:
1. Suisun City Economic Market Analysis Presentation
6 1
2 EXECUTIVE SUMMARY
■ The City's long-term fiscal and economic health relies on a balance of housing, employment, and entertainment land uses that supports a diversified municipal revenue base (e.g., property tax, sales tax, hotel transient occupancy taj.
■ The City's resident and business profile, along with real estate market supply and demand analysis, suggest that opportunities exist to capture a greater portion of resident and employee spending within the City, such as across the quick-service and full-service restaurant categories.
■ Market analysis additionally indicates that the addition of new housing units will be critical to support the feasibility of attracting new commercial retail and entertainment uses, and also retaining and expanding existing businesses within the City ("retail follows rooftops").
■ Housing should not be viewed as a fiscal "loss-leader" in today's real estate market, but rather as a growth-driver, especially given the increasing work-from-home trends and increase in e-commerce activity in most markets. We call this Housing as Economic Development (HEED)™.
■ Development pro forma analysis additionally supports the concept that blended-use formats will be required in order to achieve financial feasibility for new development in 2025, particularly when higher value, for-sale residential components are included.
■ Case study i:esearch reinforces that successful transit-oriented development (TOD) relies on having a core population base located in the immediate proximity of a fixed transit center.
■ General fund fiscal impact analysis illustrates that activation of several key development opportunity sites within the City can provide sustainable revenue generation (net of municipal service costs). ■ Successful implementation of economic development for Suisun will require that the City leverage its strengths, such as the various key real estate assets it controls throughout the City (subject to Surplus Land Act compliance), the available funding and financing tools authorized at the State and local level, and the recruitment of qualified, well-capitalized partners in the private sector real estate development community.
KOSMONT COMPANIES
2/27/2025
7 3
4 2.1 - CITY REVENUE INFORMATION
SUISUN CITY - ECONOMIC AND MARKET ANALYSIS
SUMMARY
CITY REVENUE INFORMATION
■ Property Tax Revenue Distribution: For every $1 of property tax paid in Suisun City, only 11.3 cents remains with the city, while 40.6 cents goes to Solano County and 48.1 cents to schools and other taxing entities.
This limited retention of property tax revenue emphasizes the importance of other revenue streams, such as sales tax and transient occupancy tax (TOT), for bolstering Suisun City's general fund.
General Fund Revenue Composition: Suisun City's general fund revenue relies heavily on sales and use tax, which makes up 45.7%, significantly higher than the state average of 21.9% for California cities.
Conversely, property taxes contribute 36.5%, slightly below the state average of 39.1%. This revenue structure highlights the city's dependence on consumer activity to fund its operations, with a relatively smaller contribution from property taxes.
Tax Revenues Per Capita Comparison: Compared to other Solano County cities, Suisun City has lower per capita revenues. Property tax revenues per capita in Suisun City are $189, lagging Benicia ($738) and Vacaville ($483). Sales tax revenues per capita are $237, placing Suisun City in the midrange, but Its TOT revenues of $22 per capita slightly outperform nearby Fairfield and Vallejo. These figu res reflect Suisun City's economic profile as a smaller market with growth potential. kosl_
KOSMONT COMPANIES
Revenue Growth Trends (2018-2022): Suisun City has experienced a 31% growth in total tax revenues over four years, closely aligned with the growth rate of Solano County and California cities overall. However, property tax revenue growth has been relatively modest at 14%, while sales tax revenue has surged by 61%, underscoring the city's heavy reliance on consumer spending. TOT revenue also grew by 55%, likely reflecting increased tourism or transient lodging activity.
Sales Tax Performance and Trends: Suisun City's sales tax revenue has grown steadily, with a 10-year compound annual growth rate (CAGR) of 8.1%, reflecting sustained retail activity and participation in countywide sales tax pools. Post-pandemic recovery has been particularly strong, with sales tax revenue rebounding by 29% from 2020 to 2022. This recovery demonstrates the resilience of the city's retail sector and Its importance to Suisun City's financial health.
Retail Sales by Category: Between 2018 and 2023, Suisun City experienced a 32% overall growth in retail and food service sales, increasing from $152.S million to $201.7 million. Key growth categories include clothing and clothing accessories stores, which grew by 92%, and food and beverage stores, which Increased by 46%. Food services and drinking places saw a notable 44% rise, reflecting strong demand for dining options.
KOSMONT COMPANIES
2/27/2025
8 5
6 PROPERTY TAX DISTRIBUTION
■ For every $1.00 of property tax paid by property owners in Suisun City, revenues are distributed to several taxing entities:
Suisun City:
11.3 cents
County of Solano:
40.6 cents
School Entities and Other:
48.1 cents
1.0% Property tax general levy distribution for tax rate area 5000 shown (pre-ERAF, does not include voter-approved overrides above 1.0%) Source: Solano County Auditor-Controller (2024)
2022 GENERAL FUND REVENUES
SUISUN CITY VS. CA CITIES
Transient
Occupancy
Taxes&
STR Fees
4.2%
Tax
45.7%
Other
13.6%
Suisun City
Property Taxes
36.5%
kos
B
. Source: Kosmont Companies; CA DOF (Accessed July 2024) Notes: For all CA cities, admission fees make up 0.1% of general fund revenues.
Other
32.9%
Transient
Occupancy Taxes
& STR Fees
6.0% Sales and Use Tax
21.9%
All CA Cities
KOSMONT COMPANIES
Property Taxes
39.1%
KOSMONT COMPANIES
2/27/2025
9 7
8 2018 VS. 2022 TAX REVENUES (% PROPERTY, SALES, HOTEL TOT)
SUISUN CITY VS SOLANO COUNTY CITIES VS CA CITIES
2018 Tax Revenues 2022 Tax Revenues
100'4
kos
l..
.
Sour ce: Kosmont Companies; CA DOF (Am,ned July 202-4) KOSMONT COMPANIES I 7
TAX REVENUES PER CAPITA
SUISUN CITY VS MAJOR SOLANO COUNTY CITIES
Fairfield Vacaville Vallejo
Property Tax $189 $738 $304 $483 $296
Sales Tax $237 $308 $254 $492 $152
TOT $22 $20 $19 $22 $17
kos
. Source: Kosmont Companies; CA Department of Finance, State Controller's Office data for 2022 (Accessed August 202-4) KOSMONT COMPANIES I 8 2/27/2025
10 9
10 ·20"4
-30"4
HISTORIC TAX REVENUE GROWTH (2018-2022)
SUISUN CITY VS SOLANO COUNTY CITIES VS CA CITIES
2018
PropertyTax Revenue
Growth Since 20 18
2019 lOlC 2022
Sales Tax Revenue
Growth Since 2018
1020 2021 20n
TOT Revenue
Growth Since 2018
Wll 2022
--SuisunClty - -Solano Coomy Cities --SuisunCty Solaoo County Cities 2019
--SulsunClty - - Solano County Cities
--AICAC!ties --AICACltles
k, )SI.. Source: Kosmont Companies; CA DOF (Accessed March 2024)
RETAIL SALES BY CATEGORY BY YEAR
SUISUN CITY (2018-2023)
I Clothlng- Clothlng Ac:cmsorioo
Stores 64 S205,IOO Sl92,693 $421,060 ssn.098
2 Food and Beverage Stores 19 SI0,951,505 SI 0, 730,370 Sl2,524,326 Sl3,937,474 l Food Senrk:es and Drinking Places 63 S32.733,318 S33,407,069 S28.470,293 S38.029,790 4 Gasoline Stations $40,951,252 $41,431,232 S34,409,07 I $49,594,558 5 Bulldlng Material and Garden
EqulpmM1t and Supplies Dealers 10 S7,882,321 $8.274.-439 S9,180,718 S9,020,216 6 Motor Vehicle and Parts Dealen 13 $5,498,748 $5,003,632 S6.514,186 SS,030,018 7 Home Furnishings and Appliance
Stores 5142,on $99,372 $60,561 $0
a General Merchandhe Stores 10 $0 so $0 $0
9 Other Retail Group 169 $49,208,697 $48,246,436 $50,200,386 $57,175,964 --AJICAC!ties
KOSMONT COMPANIES
S378,555 S393,853 en,;
s21,976.n7 SIS,985,650 46%
$45,056,201 $47,262,844 +4%
S60,156,629 S53,709,756 31%
$9,080,126 $9,606,133 12%
$3,504,932 $4,185,582 (24%)
$0 $0 (100.0%)
$0 $10,548,264 NIA
$62,263,615 SS0,811,561 3%
Tot .. 1 Rotall :md Food Se,...,lces 363 Sl ◄7.5H D13 $147J8S14J S 14 1.780 GDI $173 360 118 S lD l.-416185 $192.503.643 JO% AIIOtt..Outi.t> 207 $4,974.556 Ss.422.886 S--1,713,767 $7.068.615 $8.12.2.80) $9.199,507 Tota!AJIOudeb 570 $152,547,56 9 $ 151.808 .119 $146 .4 94,)68 SIB0 ,4l 8,7JJ $210.639,588 Sl0 1,70J,150 )Z'I, J1!!I Source: CA DOF; CDTFA; Kosmont Companies (Accessed August 2024); 2023 Includes full year retail sales data ko:�m , Notes: *Numbers reflected are in thousands of dollars. Other retail may include pet supply stores, tobacco stores, art dealers, etc. All other oudets KOSMONT COMPANIES I 0 refers to business to business or business to govemment transactions. Numbers in parentheses and in red indicate a negative number. 2/27/2025
11 11
12 2.2 - POPULATION & HOUSEHOLD DEMOGRAPHICS
SUISUN CITY - ECONOMIC AND MARKET ANALYSIS
KOSMONT COMPANIES II
SUMMARY
POPULATION & HOUSEHOLD DEMOGRAPHICS
Population and Household Composition: Suisun City has a population of 28,642 spread across 9,175 households, with an average household size of 3.12, larger than both.Solano County (2.85) and the California state average (2.83). This reflects a family oriented community with a potential need for family-friendly housing, retail, and services. The city's median age of 37.7 indicates a slightly younger population compared to Solano County (39.8) and the state average (38.4).
■ Income Levels and Distribution: Suisun City's households have a median income of $96,870 and an average income of $119,515, which are slightly below Solano County's averages but comparable to the state. Approximately 48% of households earn more than $100,000 annually, demonstrating a solid middle-income base. However. per capita income in Suisun City is $38,289, noticeably lower than Solano County ($44,379) and California ($48,206), suggesting disparities in individual earning potential.
■ Educational Attainment: Educational attainment in Suisun City is below regional and state averages, with 22.9% of residents holding a bachelor's degree or higher, compared to 30.9% in Solano County kos.
and 38.8% statewide. A significant portion of the population, 36%, has completed some college or an associate's degree, suggesting a workforce skilled in trades and technical professions but with opportunities for upskilling to meet higher-paying job demands. ■ Housing Tenure and Home Values: Over 66% of housing units in Suisun City are owner-occupied, exceeding the state average (51%) and Solano County (60%). The median home value in Suisun City is $553,000, lower than Solano County ($595,000) and California ($785,000), making it relatively more affordable for potential homebuyers while still reflecting strong growth over the past decade. ■ Retail Spending Potential: Suisun City's households spend approximately $225.2 million annually on retail goods and services, with the top expenditure categories being food at home ($68. 9 million), food away from home ($38.2 million), and entertainment & recreation ($38.5 million). This spending pattern underscores the demand for grocery stores, dining establishments, and recreational facilities, making these sectors key opportunities for retail development to capture local spending.
KOSMONT COMPANIES 12
2/27/2025
12 2/27/2025
� So..-ce: ESR1 &slness Analyn Online (Acceued July 2024) ko;j:,_ KOSMONT COMPANIES I 13
13 POPULATION & INCOME
CITY, COUNTY, AND STATE
2024 Suisun City Solano California
County State
Population 28,642 457,532 39,530,491
Households 9,175 157,259 13,641,471
Average HH Size 3.12 2.85 2.83
Median Age 37.7 39.8 38.4
% Bachelor's Degree or Higher 22.9% 30.9% 38.8%
% Hispanic Origin 30.7% 30.1% 40.7%
Per Capita Income $38,289 $44,379 $48,206
Median HH Income $96,870 $99,041 $97,646
Average HH Income $119,515 $128,797 $139,308
Jl!I Source: ESRI Business Analyst Online (Accessed July 2024) ko:iJt KOSMONT COMPANIES I 14
14 13
15 16
POPULATION BY AGE - 2024
SUISUN CITY HAS A SL/GHTL Y YOUNGER POPULATION
COMPARED TO COUNTY AND STATE
30%
25%
20%
15%
10%
6% 5% 5%
5%
Io·•
Age0-4
19%
ia% 18%
21% 22%
AgeS-19 Age20-34
27% 26% 27%
Age35· 54
■ Suisun City, CA Solano County, CA II California
12% 13% 12%
I
Age55-64
18%
16%
15%
Age65+
J1I Source: ESRI Business Analyst Online (Accessed July 2024) ko;�m_ KOSMONT COMPANIES I Is
POPULATION BY EDUCATIONAL ATTAINMENT - 2024
SUISUN CITY RESIDENTS HAVE LOWER LEVELS OF EDUCATION
40%
36%
35% 34%
32%
30%
26%
25%
25% 24%
21%
20%
17%
15%
15% 14%
10%
5%
0% 1
10% 10%
J
I 6%
No high school diploma High school graduate or Some college or Associate's Bachelor's degree Graduate or prof. degree equivalent degree
■Suisun City, CA Solano County. CA II California
% Bachelor's Degree or Higher
Suisun City 22.9%
Solano County 30.9%
California 38.8%
JB Source: ESRI Business Analyst Online (Accessed July 2024) ko;�� KOSMONT COMPANIES I 16
2/27/2025
14 17
18 POPULATION BY INCOME - 2024
48% OF CITY HOUSEHOLDS EARN MORE THAN $1 00K ANNUALLY
25%
20%
151),,
13'111 13%
12111,
10% 9%
8% 8% B'llo B'!<t>
7'M,
5%
0%
5% 5% 5% 5%
3% 3%
I
<$15K $15-$25K $25-$35K $35-$501( $50-$75K
■ Suisun City, CA Solano County, CA
,. Source: ESRI Business Analyst Online (Accessed July 2024) k,.;��
HOUSING BY TENURE - 2024
22%
20%
18%
16'111
14%
12%
$75-$100K $100-$150K
■California
13% 13% 13%
11%
16%
$150-$200K $200K+
KOSMONT COMPANIES I 17
MORE THAN 2/JRDs OF ALL HOUSING UNITS ARE OWNER-OCCUPIED 70% 66%
60%
60%
50%
40%
30%
20%
10%
0%
Owner Occupied
51%
42%
35%
31%
Renter Occupied
■ Suisun City, CA Solano County, CA ■ California
UI . Source: ESRI Business Analyst Online (Accessed July 2024) ko:�Jl
7%
3% 5%
Vacant
KOSMONT COMPANIES I 18
2/27/2025
15 19
20 HOME VALUE HISTORY
CITY, COUNTY, STATE FROM 2017-2024
,Q, Suisun City S , ro County o
Hypothetically -$SOOK to
-$2.3M in additional
annual property tax if City
assessed values were
aligned with County or State
$277K
20° 7-01 2017-1. 201809 2019 07 2020·05 2021 03 2022-01 2022-11 2023-09 2024-07
RETAIL GOODS
AND SERVICES
EXPENDITURES
Current Households
Households:
Average HH Income
-;;;;
Avg. HH Expenditures for Select Categories
The -9, 175 households in the City spend
approximately $225.2 million annually across
these select retail expenditure categories.
The cop three spending categories are Food
at Home (e.g .. groceries). Food Away From
Home (e.g .. restaurants. fast food), and
Entertainment & R ecreation.
Food at Home
Food Away From Home
Alcoholic Beverages
Housekeeping Supplies
Household Furnishings / Equipment
Apparel & Services
Entertainment & Recreation
Personal Care Products
Tobacco Products
Total Per Household
Total Annual Spending Potential
(Brick & Mortar Retail)
k fJI Source: ESRI Business Analyst Online (Accessed October 2024); o;Ni!l_ $68,884,119
$38,195,509
$6,586,589
$8,211,340
$29,506,594
$22,181,018
$38,537,323
$9,911,609
$3,165,621
$225,179,722
KOSMONT COMPANIES
Expenditures Per % Share
HH Per HH
9,175
$119,515
$7,508 6.3%
$4,163 3.5%
$718 0.6%
$895 0.7%
$3,216 2.7%
$2,418 2.0%
$4,200 3.5%
$1,080 0.9%
$345 0.3%
$24,543
KOSMONT COMPANIES
19 20
2/27/2025
16 21
22 2.3 - UNEMPLOYMENT & EMPLOYMENT BY INDUSTRY
SUISUN CITY - ECONOMIC AND MARKET ANALYSIS
KOSMONT ½OMPANIES 21
SUMMARY
UNEMPLOYMENT & EMPLOYMENT BY INDUSTRY
Unemployment Trends: The unemployment rate in Suisun City has steadily improved over the past decade, aligning with broader regional and state trends.
As of October 2024, the city's unemployment rate stands at 5.5%, comparable to Solano County (5.4%) and slightly better than California as a whole (5.8%).
These rates reflect economic recovery from previous spikes, such as during the 2020 pandemic.
Residential Concentration and Workforce Density: Suisun City's residential population is concentrated north of Highway 12, with employed residents distributed across various densities. Higher employment densities are observed in the city's central and southeastern regions, indicating localized hubs of economic activity and proximity to major commercial and employment spaces.
Employment by Industry: The city's workforce is predominantly engaged in industries such as healthcare (21%), retail trade (10.1%), and manufacturing (8.8%). Within Suisun City itself, jobs are concentrated in healthcare, food services, and retail sectors. This dual structure highlights a strong overlap between resident employment and local job opportunities, with some variation in industry share percentages.
Worker Inflow and Outflow: A significant workforce outflow exists from Suisun City, with 13,338 residents commuting out for employment and only 2,685 workers commuting into the city. Only 556 workers both live and work ko sl.. Source: California Employment Development Department (Atcessed November 2024); within the city, reflecting a net outflow of over 10,000 individuals. This imbalance highlights challenges in retaining a local workforce and the reliance on external economic hubs such as Fairfield and Vallejo.
■ Jobs-Housing Balance: Suisun City supports 9,175 households and 9,443 housing units, with an unemployment rate that aligns well with the broader region. However, the jobs-housing balance is tilted due to the significant worker outflow, presenting an opportunity for localized job creation and retention strategies. Addressing this imbalance could bolster the local economy and reduce dependency on commuting.
Employment Projections: Solano County (Vallejo-Fairfield MSA) between 2020 and 2030 is expected to experience an overall growth of 17.1%, adding 24,000 jobs across multiple sectors. Key industries driving this growth include Health Care and Social Assistance, projected to add 4,900 jobs (19% growth), and Educational Services, with an increase of 5,400 jobs (19%). Transportation, Warehousing, and Utilities are expected to see a 39% rise, adding 1,900 jobs, reflecting significant demand in logistics and infrastructure. Other sectors experiencing strong growth include Accommodation and Food Services (29%) and Professional and Business Services (25%). In contrast, Mining and Logging is projected to decline by 100 jobs, representing a 25% decrease. These trends highlight the county's shift toward service-oriented and logistics-driven industries over the decade.
KOSMONT COMPANIES 22
2/27/2025
17 23
24 UNEMPLOYMENT HISTORY
MSA AND STATE
11.00%
10.00% 9.20%
9.00% 9.00%
7.00%
6.00%
5.00%
4.00%
3.00%
2013 2014 2015 2016 2017 2018 2019
- Vallejo-Fairfield MSA - California
Source: California Employment Development Department (Accessed November 2024); Notes: Numbers are not seasonal! adjusted. Annual averages are observed for years 2013 to 2023.
SUISUN CITY
RESIDENT
CONCENTRATION
MAP
Residents are located throughout the
northwestern portion of the City,
particularly north of Hwy. 12.
5 • 207 Employed ...-,1s / Sq. MIio
208 •113Employed -nls I Sq. MIio
■ 814 • 1,824 Employed ...idenls /Sq.Mlle
■ 1.S25•3.240Employednoldonls /Sq. Mlle
■ 3,241 -5,060 Employed n,sldonls /Sq. Mlle
• 1 • 3Employed reoldonls
o 4 -20Employed resldenls
o 21 • 67Employed i.•klonls
e 68 -159 Employed ...idenls
• 160 • 310 Employed ...idenls
Home.Alea
kos. Source: U.S. Census Bureau Center for Economic Studies (2022, Accessed November 2024) 2/27/2025
Suisun City
Solano County 5.4%
California 5.8%
2020 2021 2022 2023
KOSMONT COMPANIES 23
fairfie d
KOSMONT COMPANIES 24
18 25
26 5 • 59 jObs/Sq.MIIR
60 • 222 jobs/Sq.Mlle
223 • 494 job$/Sq.Mlle
■ 4H -874 jabs/Sq.Mlle
■ 1175 -1,364 }obs/Sq.Mlle
R
Source: U.S. Census Bureau Center for Economic Studies
k (2021. Accessed October 2024) OS \lll,:.,
• 1·3Jobs
EMPLOYMENT BY INDUSTRY
CITY OF SUISUN CITY
Resident Employed Population (Age 16+)
anufacturlng
ccommodation and Food Services
dminlstration & Support, Waste Management and Remediation ransportation and Warehousing
Professional. Scientific, and Technical Services
holesale Trade
Finance and Insurance
her Services (excluding Public Administration)
Information
riculture. Forestry, Fishing and Hunting
rts, Entertainment, and Recreation
Management of Companies and Enterprises
Real Estate and Rental and Leasing
tilities
Minin , Quar in , and Oil and Gas Extraction
"Industries in which City residents work"
Share
21.0 10.1
8.8 8.2
7.3 2.8
2.7 1.9
1.7 1.5
1.2 1.1
0.6 0.1
KOSMONT COMPANIES
Workers Employed in Study Area (Age 16+)
ealth Care and Social Assistance
Public Administration
dmlnistratlon & Support, Waste Management and Remediation ransportation and Warehousing
her Services (excluding Public Administration)
rts, Entertainment, and Recreation
Professional, Scientific, and Technical Services
griculture, Forestry, Fishing and Hunting
inance and Insurance
Manufacturing
holesale Trade
Real Estate and Rental and Leasing
Information
Mining, Quarrying, and Oil and Gas Extraction
Utilities
Mana ement of Com anies and Enter rises
';obs in the City"
J1!!!I Source: U.S. Census Bureau Center for Economic Studies (2022, Accessed November 2024) ko:�m. Notes: Categorized by North American Industry Classification System (NAICS) Industry Sectors KOSMONT COMPANIES 2/27/2025
25 26
19 27
28 kosR Source: U.S. Census Bureau Center for Economic Studies (2022, Accessed November 2024)
WORKER INFLOW/ OUTFLOW
SUISUN CITY
• Employees who work in the City are coming from Fairfield,Vacaville, Vallejo, Sacramento, and Napa.
• Employed residents living in the City are traveling to Fairfield,Vacaville, San Francisco, Vallejo, Napa, Oakland, Concord, and Sacramento.
Reference Suisun City
Workers Living and Working 556
Workers Coming (Inflow) 2,685
Workers Going (Outflow) 13,338
Net Inflow/Outflow -10,653
Employment Ratio* 0.23
Workers employed in City
but living outside
[ill
KOSMONT COMPANIES 27
556
Workers living & employed
'in City
Workers living in City but
employed outside
'
R
Notes: "'Employment Ratio = People employed within City (living and working in City+ those who come into City for work) / Employed population of City (living and working in City + workers who live In the City, but work outside of the City); kos \!l,!!... Source: U.S. Census Bureau Center for Economic Studies (2022, Accessed November 2024); REACH Central Coast www.reachcentralcoast.org/buslneJ;,Q SMONT COMPANIES 28 2/27/2025
20 29
30 ----------------c=-=-=-=-=-=-=--=------,-------
Annual Total Growth Total Change Industry 2020 2030 Growth 2020-2030 2020-2030 2020-2030 and Utilities
Source: California Employment Development Department, (2020, Accessed December 2024) Notes: Other refers to self-employed and private household workers. Numbers in parentheses and in red indicate negative numbers. KOSMONT COMPANIES 29 2024 Suisun Solano County California
City State
Unemployment 5.5% 5.4% 5.8% Rate
Employment 15,257 231,361 20,219,426
Households 9,175 157,259 13,641,471
Jobs I Housing 1.60 1.68 1.67 Ratio
,.. Source: ESRI Business Analyst Online (Accessed November 2024) ko:A\iffll KOSMONT COMPANIES 30
2/27/2025
21 31
32 2.4 - VISITATION TRENDS
SUISUN CITY - ECONOMIC AND MARKET ANALYSIS
SUMMARY
VISITATION TRENDS
Suisun City has observed fluctuating trends in visitor and employee visits relative to pre-pandemic levels, with employee visits showing consistent recovery above the 2019 baseline and visitor traffic remaining more volatile. This indicates strong local workforce activity but highlights challenges in sustaining a stable inflow of visitors. These trends suggest potential opportunities to enhance attractions and amenities to stabilize and grow visitor numbers.
Over the past year, Suisun City welcomed 7.5 million visitor visits and 1.8 million employee visits, showcasing its role as both a regional employment hub and a draw for visitors. Employees have a significantly higher visit frequency (190 visits annually) and median visit length (516 minutes), reflecting deep engagement with the area. Visitors, in contrast, average 8.6 visits per year with shorter stays of 91 minutes. Both groups have high household incomes, with employees averaging $102,000 and visitors $115,000, presenting strong consumer spending potential.
The visitor and employee demographic profiles show diverse representation, with significant proportions identifying as Hispanic (31.1% visitors, 34% employees) and White (30.6% visitors, 29.7% employees). Suisun City serves as a central node for nearby regions, with Fairfield, Suisun City, and Vacaville accounting for the majority of top home zip codes for both visitors and employees. These insights emphasize the city's regional importance while underscoring the need to build stronger local amenities to leverage its economic and cultural diversity.
Kosmont examined the top five food/beverage, grocery, fitness, entertainment, beauty, and superstore locations where Suisun City kosl.
KOSMONT COMPANIES 31
residents prefer to shop between November 2023 and November 2024 ► Although there are fast food and restaurant options within Suisun City, residents are wllllng to travel nearly 9 miles to Vacaville for both the Raising Canes and BJ's Restaurant & Brewhouse. The top fast food location is the ln-n-Out in Fairfield.
► Among grocers, the Raley's captures 27% of residents while others are also traveling into Fairfield (Trader Joe's) and Vacaville (WinCo Foods). ► Suisun City has limited entertainment options. The most popular entertainment venue where residents visited was the Cinemark Century Napa Valley & XD approximately 15 miles away.
► The most popular superstores visited by residents include the Walmart in Suisun City, Target in Fairfield, and the Costco's in Fairfield and Vacaville.
Using Placer.ai, Kosmont examined visitation trends for key locations in the City (Sunset Center and Heritage Shopping Center) compared to a 2019 baseline (pre-COVID-19 pandemic)
► The historical visitor traffic data from 2020 to 2024 reveals Heritage Park Shopping Center has experienced relatively stable visitor traffic, fluctuating around baseline levels with moderate peaks and troughs. In contrast, Sunset Center shows a more significant upward trajectory, with visitor traffic increasing steadily since early 2021 and peaking above 50% of its 2020 baseline. However, periodic dips in both locations suggest seasonal influences and external factors affecting visitor numbers. Overall, Sunset Center demonstrates stronger growth, signaling its rising importance as a visitor destination in Suisun City.
KOSMONT COMPANIES 32
2/27/2025
22 33
34 -Employees -Vfsitors
40%
-40%
Source: Placer.ai (Accessed November 2024) KOSMONT COMPANIES 33
SUISUN CITY
VISITOR / EMPLOYEE FOOT-TRAFFIC OVERVIEW
Visitor / Employee Summary Data
( I I/ I /2023 to I 0/3 I /2024)
Annual Visits 7.5 million
Visit Frequency 8.6
Median Visit Length 91 minutes
Avg. HH Income $115K
Source: Placer.al (Accessed November 2024);
Employees
I.Smillion
190.3
516 minutes
$102K
Notes: Considers a minimum of 1 visit to Suisun City by visitors over the period from November 2023 to October 2024.
Visitation Data:
Distance from Home Area
Visitors 12% 13% 2%
Employees 25% 14% 9%
11■11
Visitors 24% 16% 33%
Employees 23% 20% 9%
KOSMONT COMPANIES 34
2/27/2025
23 35
36 WHAT IS THE VISITOR AND EMPLOYEE PROFILE TO
THE CITY? (11/1/2023 TO 10/31/2024)
------
Avg. HH Income Ethnicity
Vis $115,000 Visitors Employees
Employees $102,000 White 30.6% White 29.7% 94533
kos�
Hispanic 31.1% spar: 34% 94534
Asian 16.1% Black /41% 95687
Block 13.9% Asiar, 12 9% 94591
01 more 64 or more 6.9% 95688
Source: Placer.ai (Accessed November 2024);
Notes: Considers a minimum of 1 visit to the Suisun City by visitors over the period from November 2023 to October 2024. 0 Source: Placer.al (Accessed November 2024); Notes: Considers a minimum of 1 visit by visitors to Suisun City over the last year. True trade area reflects where 70% of visitors and employees to Suisun City come from.
Top Home Location
Zip Codes
Visitors Employees
Fairfield 94585 Suisun City
Fairfield 94533 Fairfield
9568i Vacaville
Vallejo 94534 Fairfidd
Varnville: 95686 Vacaville
KOSMONT COMPANIES 35
KOSMONT COMPANIES 36
2/27/2025
24 37
38 RESIDENTS (SUISUN CITY)
TOP VISITED PLACES - PLACER.Al
Location City
-
Location City Dist. (miles) %
Rest.1urancs
Huckleberry's
Black Bear Diner
The Original Meis Diner
B
J
s Restaurant & Brewhouse
Texas Roadhouse
Fa.st Food / QSR
ln-N-Out Burger
McDonald's
Chick-fl I-A
Raising Cane's Chicken Fingers
Taco Bell
Fairfield 3.3
Suisun City 0.6
Fairfield 2.8
Vacaville 8.3
Fairfield 3.3
Fairfield 3.1
Suisun City 0.7
Fairfield 2.9
Vacaville 8.7
Suisun City 0.6
4%
4%
3%
3%
3%
19%
12%
7%
7%
4%
Brealdast / Coffee / De ssert
I Shops
Dutch Bros. Coffee Fairfield
IHOP Fairfield
Panera Bread Fairfield
Hlml"s Cafe Fairfield
Starbucks Suisun City
Grocery Store$
Raley's Suisun City
Food 4 Less Fairfield
Trader Joe's Fairfield
WinCo Foods Vacaville
Super La Favorita Meat Market Fairfield
ko51. Sources: Placer.ai; Percentage reflects the percentage of employees of Suisun City who visited each location 3 or more times from 11/1/23 to 10/31/24. (Accessed December 2024);
RESIDENTS (SUISUN CITY)
TOP VISITED PLACES - PLACER.Al
Location City 01st. (miles)
Bars I Pubs
Rustwater Kitchen & Taproom
Heretic Brewery & Distillery
Jack's Pub & Grill
True Symmetry Brewing Company
Tj's Tavern
Fitness
In-Shape Health Clubs
Planet Fitness
In-Shape Health Clubs
Crunch Fitness
Travis AFB Fitness Center
-
Fairfield
Fairfield
Suisun City
Suisun City
Vacaville
Suisun City
Fairfield
Vacaville
Fairfield
Fairfield
2 1.9
1.8 1.4
7.6 0.6
2.5 7.9
3.4 4.3
■
1%
1%
1%
1%
<0.5%
9%
5%
2%
1%
1%
Location City
Entertainment (Theatres I Music)
Cinemark Century Nap a Valley & XO
Downtown Theatre
Cinemark Century Vallejo 14
Theatre DeVille
Veranda Luxe Cinema & IMAX
Super Stores
Walmart
Costco
Target
Costco
Walmart
Beauty & Spa
VIP Foot Spa
Suisun Barber Shop
Alphas-Omega Tattoos & Body
Piercing
Phoebe's Nail Bar
Cali Hair
Napa
Fairfield
Vallejo
Vacaville
Concord
Suisun City
Fairfield
Fairfield
Vacaville
Fairfield
Fairfield
Suisun City
Fairfield
Suisun City
Suisun City
kosl. Sources: Placer.ai; Percentage reflects the percentage of employees of Suisun City who visited each location 3 or more times from 11/1/23 to 10/31/24. (Accessed December 2024);
2.4 4%
1.6 3%
2.9 2%
2.8 1%
0.6 1%
0.7 27%
1.9 10%
2.7 7%
7 7%
1.8 6%
KOSMONT COMPANIES 37
Dist. (miles) I %
14.9 2.1
13.9 7.6
19.3 7.8
3.3 7.3
2.6 2.6
1.4 0.5
0.6 0.6
KOSMONT COMPANIES
1%
1%
<0.5%
<0.5%
<0.5%
27%
25%
23%
17%
13%
2%
1%
1%
1%
1%
38 2/27/2025
25 39
40 EMPLOYEES (SUISUN CITY)
TOP VISITED PLACES - PLACER.Al
Location City
Restaurants
I
Texas Roadhouse
BJ's Restaurant & Brewhouse
The Original Meis Diner
Chili's Grill & Bar
Huckleberry's
Fast Food I QSR
ln-N-Out Burger
McDonald's
Raising Cane's Chicken Fingers
Chick-fil-A
Taco Bell
Fairfield
Vacaville
Fairfield
Vacaville
Fairfield
Fairfield
Suisun City
Vacaville
Fairfield
Suisun City
3.3 5%
8.3 4%
2.8 4%
8.3 3%
3.3 3%
3.1 14%
0.7 9%
8.7 8%
2.9 7%
0.6 4%
Location City
Breal<fast I Coffee / Dessert
Shops
Dutch Bros. Coffee
Starbucks
IHOP
Dutch Bros. Coffee
T◄ Tea for you
Grocery Stores
Raley's
Trader Joe's
WinCo Foods
Food 4 Less
FoodMaxx
Fairfield
Suisun City
Fairfield
Vallejo
Fairfield
Suisun City
Fairfield
Vacaville
Fairfield
Fairfield
kos
l.
. Sources: Placer.al; Percentage reflects the percentage of employees of Suisun City who visited each location 3 or more times from 11/1/23 to 10/31/24. (Accessed December 2024);
EMPLOYEES (SUISUN CITY)
TOP VISITED PLACES - PLACER.Al
-■--
2.4 6%
0.6 2%
1.6 2%
14.2 1%
2.5 1%
0.7 15%
2.7 11%
7 8%
1.9 7%
6%
KOSMONT COMPANIES 39
Location City Dist. (miles)
■
Location City Dist. (miles)
Bars / Pubs -
Village 360 Fairfield 6.7
Jack's Pub & Grill Suisun City 1.8
Rustwater Kitchen & Taproom Fairfield 1.9
The Brass Tap Vacaville 10.4
Judy's Wild Wrangler Saloon Vacaville 12.2
Fitness
Planet Fitness Fairfield 2.5
In-Shape Health Clubs Suisun City 0.6
Planet Fitness Vacaville 8.5
Crunch Fitness Fairfield 3.4
In-Shap e Health Clubs Fairfield 2.8
1%
1%
1%
1%
<0.5%
5%
4%
2%
2%
2%
Entertainment (Theatres I Music)
Cinemark Century Vallejo 14
Cinemark Century Napa Valley & XD
Theatre DeVille
Downtown Theatre
Veranda Luxe Cinema & IMAX
Super Stores
Walmart
Target
Costco
Walmart
Costco
Beauty & Spa
Ulta Beauty
VIP Foot Spa
Alphas-Omega Tattoos & Body
Piercing
Diamond Nails & Spa
Relax Nails & Spa
Vallejo
Nap a
• Vacaville
Fairfield
Concord
Suisun City
Fairfield
Fairfield
Fairfield
Vacaville
Vacaville
Fairfield
Fairfield
Fairfield
Fairfield
ko
sl
. Sources: Placer.ai; Percentage reflects the percentage of employees of Suisun City who visited each location 3 or more times from • 11/1/23 to 10/31/24. (Accessed December 2024);
13.9 14.9
7.6 2.1
19.3 3.3
7.8 2.6
7.3 8.8
2.6 -
0.9%
0.7%
0.5%
<0.5%
<0.5%
42%
19%
18%
17%
15%
-
2%
2%
1.5 1%
3.3 1%
2.5 1%
KOSMONT COMPANIES 40
2/27/2025
26 41
42 SHOPPING CENTER COMPARISON
VISITOR OVERVIEW (11/1/2023 -10/31/2024)
■ Kosmont evaluated visitation trends within the past year to the City's Heritage Park and Sunset Shopping Centers (Sunset Avenue and Highway 12), which are a Community Center and Neighborhood Center, respectively.
■ From Nov. 1, 2023 to Oct. 31, 2024, Sunset Shopping Center experienced ~1.5 million annual visits while the Heritage Park Center saw ~1.2 million visits.
■ The Sunset Shopping Center is anchored by a Rite Aid but is most often visited for the McDonald's (608K visits/year).
■ The Heritage Park Center is anchored by the Raley's, Dollar Tree, and Ace Hardware. Raley's is the most visited store in the center at 544.7K visits/year:
■ 81% and 84% of visitors come from within 3 miles of Sunset Center and Heritage Park, respectively, demonstrating its strong local service trade area.
■ Sunset Center sees most of its visitors in the late-morning to early afternoon hours (10am-1pm), while Heritage Park sees its largest concentration of visitors between 3-6pm.
,.. Source: Placer.ai (Accessed December 2024)
ko;�m_
Annual Visits
Visit Frequency
Visitors
Avg. Visit Length
Avg. HH Income
SHOPPING CENTER COMPARISON
VISITOR DISTANCE ANALYTICS
Visitor Data
Sunset
1.5 million
6.3 visits /
year
232,800
48 minutes
$101K
Heritage
Park
1.2 million
5.9 visits/
year
196,300
32 minutes
$98K
KOSMONT COMPANIES
Distanc e from Home Area (Sunset Center) Distance from Home Area (Heritage Park) 41 Distance Visits Percentage Distance Visits Percentage 0-3 Miles 959,500
3 -7 Miles 68,600
7-10 Miles 50,500
10-30 Miles 64,200
30-50 Miles 27,100
50-100 Miles 6,700
100+ Miles 4,300
Top S Home Locat ions (Zip Codes)
Zip Code
94585
94533
94534
95687
94571
City
Suisun City
Fairfield
Fairfield
Vacaville
Rio Vista
Source: Placer.ai (Accessed March 2024)
Visits
674,000
344,000
90,700
38,000
28,100
81%
6%
4%
5%
2%
1%
0%
Percentage
46.5%
23.7%
6.3%
2.6%
1.9%
0-3 Miles 1n,'400 84%
3-7 Miles 41,800 4%
7 -10 Miles 34,000 5%
10-30 Miles 54,'400 6%
30-50 Miles 15,500 2%
50 -100 Miles 4,800 1%
100+ Miles 2,500 0%
Top 5 Home Locations (Zip Codes)
Zip Code City Visits Percentage
94585 Suisun City 560,000 48.6%
94533 Fairfield 282,000 24.5%
94534 Fairfield 54,700 4.7%
95687 Vacaville 40,700 3.5%
94571 Rio Vista 23,900 2.1%
KOSMONT COMPANIES 42
Notes: Considers a minimum of 3 visits by visitors to the Sunset and Heritage Park Shopping Centers over the last year. 2/27/2025
27 43
44 SHOPPI NG CENTER COMPARISON
TRADE AREA ANALYTICS
True Trade Area: 9. 7 4 sq. mi.
1..,::;: lrnrleArca 11.47 sq mi
O\lerlapp,f'gArea85%
Source: Placer.al (Accessed December 2024)
Hetitllg• Park Shopping Center
lSOS:..r.-·,tt-.11�.:.v:;1,(1t-J C.A�..:g,
Tot,11 ·rrc:-dc A�e:, 10.68 SQ n•�
O-,er1op·ng Area 91.�
Notes: Considers a minimum of 3 visits by visitors to the Sunset and Heritage Park Shopping Centers over the last year. True trade area represents 70% of all visits to location.
HISTORICAL
VISITOR TRAFFIC
BY MONTH
80%
70%
60%
50%
40%
30%
20%
10% A.
•
r.OSMONT COMPA ,JfES 43
SUNSET CENTER
AND HERITAGE
PARK CENTER
(2020-2024)
°'�'T ----------------------------·-10% \j
-20%
-30%
-Heritage Park -Sunset Center
kos. Source: Placer.al (Accessed December 2024) KOSMONT COMPANIES 44 2/27/2025
28 45
46 3. MARKET DEMAND ANALYSIS
SUISUN CITY - ECONOMIC DEVELOPMENT STRATEGIC PLAN
OVERVIEW
MARKET DEMAND ANALYSIS
Overview
■ The Market Demand Analysis evaluates the retail,
industrial/flex, multifamily residential, and hospitality (hotel) real estate markets. Geographies observed in
the Market Demand Analysis include:
► Suisun City ("City")
► Fairfield & East Submarket ("Submarket")
► Solano County ("County")
■ The Market Demand Analysis observes the following:
► Existing supply conditions for commercial (retail
and industrial/flex space), residential (multifamily),
and hospitality (hotel) for the most recent
available quarter (Q3 2024)
► Historical trends in vacancy and market asking
rents on an annual basis over the last ten years
(2013 to 2023)
I Fairfield & East Submarket
:Sd Vd001
Un,on
Napa
(29
ldN�val
:.ar,nn 4mencan
,n Canyon
Valle,o
Rodeo
liPrcule& MartiM7
Vacav,lle Hmira
AntioCll
KOSMONT COMPANIES
Betne'I , stand
Oakley
Walnut GrovP
KOSMONT COMPANIES
2/27/2025
45 The
46 29
47 48
3.1 - MARKET TRENDS
SUISUN CITY - ECONOMIC AND MARKET ANALYSIS
MARKET TRENDS SUMMARY
■ Key trends in the post-COVID-19 economy:
► Retail
• Retail store closures, bankruptcies, and e-commerce
has driven changes in retail; Retail centers are being
reimagined (e.g. blended use development)
• Retail driven by trip-generators such as
entertainment, experience, and essentials (e.g. food)
► Industrial
• E-commerce is accelerating growth of industrial;
• Retail and industrial are merging, with space being
used for Buy Online Pick Up in Store (BOPIS),
fulfillment, last mile and warehousing (including flex)
KOSMONT COMPANIES
► Residential
• Homes are live, play, and work environments
• Strength in suburban markets; Home office is the
new home amenity as single and multifamily housing
developments are designed to facilitate work
• New resid'ential sites within shopping centers
KOSMONT COMPANIES
2/27/2025
47 48
30 49
so
Key Market and Economic Development Trends
• New housing can generate
significant new tax revenues and
support local jobs from resident
spending
• Housing is not necessarily a net
negative fiscal impact, especially at
current property values
• U.S. retail over-built and needs
"right sizing;" Covid accelerated
trends; today its about essentials,
experience & e-commerce
• Blended/mixed use projects
integrate multiple uses (housing,
retail, open space, creative office,
hotel)
• Telework and work from home
options are reshaping the needs for
office space and business districts
• Job redistribution tied to housing
• Vacancies can· read to fiscal impact
pressure
HOUSING AS ECONOMIC DEVELOPMENT
I
Roo�ops Needed
• Modern industrial is not "your
father's industrial" - it is a blend
• Retail can't thrive without
distribution; Booming demand for
e-commerce, particularly smaller
last-mile delivery facilities
• Flex space (a blend of industrial,
office, research and development
space) is a growing market. Cities
can attract high tech / skill firms
with such space
KOSMONT COMPANIES 49
New housing can generate significant new tax revenues and supports local jobs - it is not necessarily a net negative fiscal impact, especially at current property values.
Housing is needed in
jobs-rich areas;
High costs are a burden,
but high assessed value
=tax$$$
E-commerce will capture
25% of sales within 5
years (~$9k per CA
household)
Live
Work
Shop
zl l
1• ..
�
H
Telecommuting is
booming; remote
workers can alleviate
traffic and increase
"spend" to support
local businesses.
KOSMONT COMPANIES so
2/27/2025
31 51
52 WORK-FROM-HOME GROWTH
SIGNIFICANT IMPACTS ON OFFICE DISTRICTS & DA YT/ME POPULATION ■ Work-from-home is changing where people choose to live, and increases popularity of "15-minute communities" that offer amenities and quality of life
■ Census Bureau estimated that ~44% of workers are in jobs where working from home is currently feasible, with only a quarter of those in feasible telework jobs actually utilizing this capability ■ Research shows the ability to telework likely varies by educational attainment and income-level; many of the telework occupations are heavily represented by incomes requiring higher levels of education (such as Management I Business / Financial / Professional occupations) ■ Other research shows that while work-from-home days have declined from the pandemic high of 60% to ~40% of days, this is still significantly above pre-pandemic estimates of 5%
■ Employers are expecting an average of 2.3 work-from-home days per week, suggesting that hybrid home/office model is likely to be well utilized post-COVID
�
Source: U.S. Census Bureau; St. Louis Federal Reserve; Survey of Working k . Arrangements (Accessed December 2022) us� -
E-COMMERCE GROWTH
Work-from-Home: Current Utilization and
Employer Plans for post-COVID
1111111
-Employer Plans for Post-COVID WFH Days
-Percentage of Days WFH
KOSMONT COMPANIES
70%
60% :I:
50% �
�
40% �
�
30% �
20% �
10% if.
0%
SIGNIFICANT IMPACTS ON BRICK-AND-MORTAR RETAIL
■ E-commerce sales in the U.S. have increased steadily, jumping by 30% in Q2 2020 due to increased
utilization during the COVID-19 pandemic. Loss of
almost $1 trillion in sales puts massive pressure on
local brick-and-mortar retailers.
■ According to UBS, e-commerce's share of overall U.S.
retail sales will continue to increase over the next S
years, resulting in a loss of sales, primarily in clothing, office supply and sporting goods.
■ Consumer online shopping behavior has further
solidified during the COVID-19 pandemic, and is not
likely to revert to old patterns, thanks to free 1-day
delivery services, etc.
"'
Cl/
-;;; -
� ;�=... 0
�Cl
�� Cl/ C
E .Q
E:
0 al
u ---
w
1000
900
800
700
600
500
400
300
200
100
0 E-commerce Retail Sales
"I I 1111111 lll I I I
0 M """ -0 <XI 0 � :: '° � 0 00 000 .... .... M 000000 0 0 0 0 0 MM MMMM M M M M M - E-Commerce Sales
- E-Commerce: Share of Total Retail Sales
16 .,,
Cl/
14 �
12 -��
10]
�-..-8 ._ C
� � 6 la ,f .c ......,V,
4 �
2 �
E 0 8 w
51 Jl!I Source: U.S. Census Bureau; St Louis Federal Reserve; UBS (Accessed ko;�� December 2022) KOSMONT COMPANIES 52
2/27/2025
32 53
54 3.2 - RETAIL MARKET
SUISUN CITY - ECONOMIC AND MARKET ANALYSIS
SUMMARY
RETAIL MARKET
■ The retail market in the City of Suisun City is small (~932,000 SF) and comprises 13% of all the retail space within the Submarket ■ The COVID-19 pandemic had little impact on the Suisun City retail market. More retail space was absorbed than vacated by both year end 2020 and 2021. Over the past year, there has been positive net absorption of retail space in the City (+52,100 SF)
■ The retail market in the City is experiencing low vacancy, remaining at or below 5.0% over the last 10 years with the exception of 2023 (6.1%)
■ As of Q4 2024, retail vacancy in Suisun City is 5.0%, more than 20% lower than retail vacancy across the Submarket and similar with the County (4.9%)
■ Market asking rents have steadily increased since year-end 2013 and are 7% higher compared to the Submarket and 9% higher than the County
■ In the ten-year period between year-end 2013 and year-end 2023, approximately 322,200 SF of retail space has been added in Suisun City; the most recent addition of retail space (Tractor Supply) was kos�,r
SF in June 2024
KOSMONT COMPANIES 53
■ Other prominent retail construction in the City built within the past 10 years (2015) includes a freestanding Walmart Supercenter with two (2) smaller retail spaces at 350 Walters Rd. at approximately 200,000 SF.
■ The findings provided in Section 2.4 of this report (See "Visitation Trends") demonstrated the following trends:
■ Although there are fast food and restaurant options within Suisun City, residents are willing to travel nearly 9 miles to Vacaville for both the Raising Canes and BJ's Restaurant & Brewhouse. The top fast food location is the ln-n-Out in Fairfield.
■ Among grocers, the Raley's captures 27% of residents while others are also traveling into Fairfield (Trader Joe's) and Vacaville (WinCo Foods).
■ Suisun City has limited entertainment options. The most popular entertainment venue where residents visited was the Cinemark Century Napa Valley & XD approximately 15 miles away.
■ The most popular superstores visited by residents include the Walmart in Suisun City, Target in Fairfield, and the Costco's in Fairfield and Vacaville.
KOSMONT COMPANIES 54
2/27/2025
33 55
56 Suisun City Submarket
Market Asking Rent $25.83 $24.08 $PSF/Yr.
Vacancy Rate 5.0% 6.1%
Vacant SF 46,315 425,766
Net Absorp. SF 52,131 101,360
Total Under 0 3,331 Construction SF
Existing SF 931,985 7,017,588
Total # of Buildings 70 502
Solano County
$23.55
4.9%
1,088,189
110,921
6,331
22,373,251
1,953
Major retail space in Suisun City:
► Four (4) shopping centers exist within
city boundaries:
► One (1) Strip Center
► Two (2) Neighborhood Centers
► One (1) Community Center
► Retail Shopping Centers in Suisun:
► 1101 Anderson Dr. -1,940 SF
► Marina Center - 60,676 SF
► Sunset Shopping Center - 98,279 SF
► Heritage Park Shopping Center - 170, 172
SF
Major anchors located along Sunset Ave.
and include Raley's, Dollar Tree, Ace
Hardware, Tractor Supply, and Rite Aid
Remaining retail is concentrated near
waterfront / downtown along Main St.
According to CoStar there is no other retail
space currently planned, proposed, or under
construction
Most recent retail development is the
Tractor Supply on Sunset Ave. at 22,000 SF
- opened June 2024)
Top: Tractor Supply
Middle: Harbor Square Source: CoStar (Accessed October 202◄); Note: CoStar defines Triple Net (NNN) as "a lease where the tenant is responsible for all e>cpenses associated with their proportional share of occupancy ol the building. except long-lived structural components and management charges." Market asking rents were also observed to show the rental income that a property in the obser.ied geographies woukt likely command In the open market. This .-emoves the discrepancies presented in NNN rent numbers that are based on reported transactions. Vacant space refers to all space that Is not occupied by a tenant regardless of availability or lease ob/ignion. Available space Is the amount of space currently being marketed as avaibble for lease or sale In a gh'eo time period. It lndudes any space that is v.lC21lt, occupied. or available at a future date. Negative net absorption refers to the fact that more tenants v.K2ted rewt space as opposed to ........mg orexpand;ng .
Bottom: Raley's, Heritage Park Shopping Ctr.
RETAIL MARKET HISTORY
2013 - 2023
Vacancy Rates
14.0%
12.0%
10.0%
8.0%
6.0%
4.0%
2.0%
0.0%
14.0%
- Suisun City - Fairfield-Suisun Submarket -Solano County kos . Source: CoStar (Accessed October 2024)
.1%
Market Asking Rent $PSF/Yr.
$26.00
$25.00
$24.00
$23.00
$22.00
$21.00
$20.00 $19
$19.00 $18.
$18.00
$18.02
$17.00
KOSMONT COMPANIES
- Suisun City ·-•Fairfield-Suisun Submarket -Solano County
KOSMONT COMPANIES
55 $25.38
3.15 56
2/27/2025
34 57
58 INDUSTRIAL/ FLEX MARKET
SUISUN CITY - ECONOMIC AND MARKET ANALYSIS
SUMMARY
INDUSTRIAL / FLEX MARKET
■ This analysis compared key variables in the industrial and flex space market (hereafter, "industrial market") within the City, the Submarket, and the County
■ The industrial market in the City is relatively small for the area (190,300 SF) and accounts for 10% of the industrial market within the Submarket
■ As of the start of Q4 2024, industrial market asking rents in Suisun City fell from the previous year's (2023) rate by 2%. However, rents were slightly higher compared to the Submarket and County (3% and 11% higher, respectively). Overall market asking industrial rents in the City increased by 35% over the last 10 years
■ Industrial vacancy in Suisun City is currently at its lowest since 2021 at 0% and with a positive net absorption of 17,800 SF year-to-date ■ Industrial vacancy in the City has fluctuated between 0.5% (year-end 2016) to as high as 13.8% (year-end 2022)
■ Over the last 10 years, market asking industrial rents across the observed geographies have also increased, but rents in the City have always remained healthy and slightly higher than rents in the Submarket and County
kosl.,
KOSMONT COMPANIES 57
■ The majority of industrial space is 8-class space (10 properties) while the remaining supply is C Class (9 properties)
■ In the last 10 years, there have been �o (2) industrial properties constructed in the last 10 years totaling 4,100 SF:
1971 Walters (2023)
1267 McCoy Creek Way (2019)
■ According to CoStar there is no other Industrial / Flex space currently planned, proposed, or under construction but with a 0% vacancy, demand is high for additional industrial space ■ E-commerce trends show a strong demand for multiple types of industrial space given the greater need for warehouse, sorting facilities, and last-mile delivery. Given Suisun City's access to US-80 and CA-12, the City could position itself as a small last-mile hub serving the lower Solano County cities/CDPs. In order to achieve this, the City may consider dedicating more land towards industrial uses or a blend of retail and industrial.
KOSMONT COMPANIES 58
2/27/2025
35 INDUSTRIAL / FLEX MARKET OVERVIEW
2024 (YTD)
Suisun City Fairfield/East
Submarket Solano County
The Industrial / Flex market in Suisun
City consists of nineteen (19) properties:
► Seven (7) B-class Industrial properties
► Three (3) B-class Flex properties
► Six (6) C-class Industrial properties
► Three (3) C-class Flex properties
Availability
The largest Industrial / Flex space is
34,500 SF Class B space at 110 Railroad
Ave.
Market Asking $12.88 $12.50 $11.51 Two (2) industrial / flex space properties have come online in last 10 years totaling
4,100 SF
Rent $PSF/Yr.
Vacancy Rate 0% 10.1% 7.3% 1971 Walters (2023)
Vacant SF 0 1,882,948 3,747,166
Net Absorption 17,800 (790,651) 323,419
1267 McCoy Creek Way (2019)
Oldest stock of Industrial / Flex space
dates to 1950 (231-247 Travis Ct.) at
8,000 SF
59 Inventory
Existing SF 190,331 18,642,739 51,411,094
According to CoStar there is no other
Industrial / Flex space currently planned,
proposed, or under construction
Source: CoStar (Accessed October 202-4): Note: CoStar defines Triple Net (NNN) as "a lease where the tenant is responsible for all expenses associated with their proportional share of occupancy of the building. except long�ived structural components and management charges." Market asking rents were also observed to show the rental income that a property in the observed geographies would likely command in the open market. This removes the discrepancies presented in NNN rent numbers that are based on reported transactions. Vacant space refers to all space that Is not occupied by a tenant regardless of availability or lease obligation. Available space is the amount of space currently befng marketed as available for lease or sale in a given time period. It includes any space that is vacant. occupied, or available at a fuwre date. Negative net absorption refers to the fact that more tenants vacated retail space as opposed to renewing or expanding.
INDUSTRIAL/ FLEX MARKET HISTORY
2013-2023
\bcancy Rates
14.0%
12.0%
10.0%
8.0%
6.0%
4.0%
2.0%
0.0%
Market Aslcing Rent $PSF/Yr.
$14.00
$13.00
$12.00
$11.00
$10.00
$9.00
$8.00
$7.00
$6.00 $6.3◄
$5.00
Top: 1971 Walters-I (Flex)
Mlddle: 228-244 Travis Ct. (R&D)
Bottom: 405 Railroad Ave.
KOSMONT COMPANIES 59
$13.16
-Suisun City -Fairfield-Suisun Submarket -Solano County -Suisun City -Fairfield-Suisun Submarket -Solano County � Source: CoStar (Accessed October 202◄)
kos 1,1,W.. Notes: Vacant industrial/flex space in Suisun City was fully absorbed in 2021, thus there appears to be no vacant space by year-end 2021 KOSMONT COMPANIES 60 60 2/27/2025
36 61
62 3.4 - MULTIFAMILY RESIDENTIAL MARKET
SUISUN CITY- ECONOMIC AND MARKET ANALYSIS
KOSMONT COMPANIES 61
SUMMARY
MULTIFAMILY RESIDENTIAL MARKET
Overview:
In 2024, Suisun City's multifamily market shows higher asking rents compared to the Fairfield/Suisun Submarket but slightly lower than the broader Solano County average. The city's average asking rent is $1,940 per unit/month or $2.00 per square foot (PSF), with an average unit size of 841 square feet, smaller than county averages.
Suisun City's 10% vacancy rate is notably higher than the submarket (5.5%) and county (5.8%), driven in part by recent additions to its rental inventory, such as the Marina Village Apartments and other ongoing developments like the Arrive Suisun City project, which will add 180 units in December 2024.
Market History (2013-2023):
Over the past decade, Suisun City's multifamily rental market has seen consistent rent increases, with asking rent PSF rising from $1.49 in 2013 to $2.26 in 2023, reflecting a robust 52% growth.
However, vacancy rates have spiked in recent years, jumping from 2.3% in 2021 to 12.5% in 2023, primarily due to increased inventory and slower absorption.
Net absorption in 2023 reached 103 • units, rebounding after a net loss of 23 units in 2022, showing potential stabilization following the initial impacts of new supply entering the market.
Source: Suisun City "6"' Cyde RHNA Pion 2023-203 /"
Housing Element Key Findings and Regional Comparison:
The 2023-2031 Housing Element highlights that Suisun City needs to meet a Regional Housing Needs Allocation (RHNA) of 1,208* units across all income levels by 2031.
A significant portion (54%) is designated for lower-income households, emphasizing the importance of creating affordable housing options. Housing policies aim to address barriers such as high development costs, limited vacant land, and zoning restrictions, while leveraging opportunities like transit-oriented developments and partnerships with affordable housing developers.
When compared to the Fairfield/Suisun Submarket and Solano County, Suisun City's multifamily market features higher vacancy rates and slightly lower average rents, with countywide asking rents at $2.26 PSF and vacancy at 6.5% in 2023.
Regional trends show steady increases in rents across all areas, with demand recovering in 2023 following negative absorption in previous years. However, Suisun City's focus on implementing its Housing Element policies will be crucial to balancing market rate and affordable housing needs while maintaining competitiveness in the multifamily market.
Note: "Of the 1,208 units in Suisun City is allocated to add per RHNA, 303 are very low-income units (<50% Area Median Income f'AMI"]), 353 are low-income units (50-80% AMI), 208 are moderate-income units (80-120% AMI), and 344 are above moderate-income units (> 120% AMI). KOSMONT COMPANIES 62 2/27/2025
37 I MULTIFAMILY MARKET OVERVIEW
Suisun City
Availability
Asking Rent $1,940 Unit/Mo.
Avg. SF 841
Asking Rent PSF $2.00
Vacancy Rate 10.0%
Total Under 180 Const. Units
Net Absorption 27
Inventory
Total # of Units 1,484
2024 (YTD)
Fairfield/East
Submarket
$1,664
978
$2.02
5.5%
243
66 8,824
Solano County
$1,917
880
$2.26
5.8%
363
4 25,485
Major multifamily buildings in City
► Henley Apt. Homes (313 Sandy Ln.,
Class B, market-rate; built 1985 and
reno. 2008; 240 units; 17.5%
vacancy)
► Bridges on Sunset (766 Sunset Ave.,
Class C market-rate; built 1985; 224
units; 10.7% vacancy)
► Marina Village Apts. (233 Marina
Blvd., Class B, affordable; built 2023;
160 units; 30.5% vacancy)
Arrive Suisun City (1349 Blossom Ave.)
currently under construction.
► Class B; 180 units; market-rate;
opening Dec. 2024
10-year net absorption of multifamily
units = +189 units in the County, +95
units in the Submarket, and +10 units in
the City
Top: Lawler Apartments
Source: CoStar Suisun City {Accessed October 2024); Middle: Marina Village Apts. 63 64
�
Notes: Data represents the average asking rents across all unit types {studio, I BR, 2BR, etc.). Inventory does not include dormitories or mobile homes and Bottom: Henley Apt. Homes includes units in buildings with 10 or more units. Negative net absorption refers to the fact that more residents vacated as opposed to moving into residential kos 2!_. units. Numbers in parentheses and in red indicate a negative number. Inventory is reflective of just for-rent housing, not condo/townhome buildings. KOSMONT COMPANIES I 63
MULTIFAMILY MARKET HISTORY
2013 - 2023
Vacancy Rotes Asking Rent $PSF
14% $2.2S
12%
$2.0S
10%
$1.8S
8%
6% $1.6S
4%
$1.4S
2%
0% $1.2S
- Suisun City - Fairfield-Suisun Submarket -Solano County - Suisun City --•·Fairfield-Suisun Submarket -Solan<> County kos.. Source: CoStar (Accessed October 2024) KOSMONT COMPANIES 64 2/27/2025
38 65
66 4. EDSP OPPORTUNITY SITES & SWOT ANALYSIS
SUISUN CITY - ECONOMIC DEVELOPMENT STRATEGIC PLAN
2 Caltrans Site
Lotz Way
Fire Station
Southwest Waterfront Lots
Kellogg Way
ko:,.·"·
Source: ESRI Business Analyst Online (Accessed October 2024) 2/27/2025
KOSMONT COMPANIES I 6S
KOSMONT COMPANIES I 66
39 67
68 CITY LAND USE &
ZONING MAP
Opportunity sites were evaluated within the
context of the City's proposed land use zones
from the Wateriront District Specific Plan to
ensure conformity to existing policies and
permitted uses.
Opportunity sites fell within a variety of areas
including RLD, RMD, and RHO zones which
allow for low-, medium-, and high-density
residential development. with densities that are
consistent with existing development near
downtown and the wa.terfront
Additionally. other opportunity sites fell within
the DMU and DC zones that focus on
permitting mixed-use commercial uses near
Hwy 12, and along Main Street in Downtown
near the waterfront.
�·�t .. ,-.�. l -t••:•�. - ,, -- �ej�;::::"; 1 '-< _ _..,,.,.,,..., .. ��:,�1'fl•U> -
= �-•� : �� ��M, �r� -.,. ��c--
-
--:t2�"7'•:�··::;
.....,.
�·�.� : /���ii.Q.''I -
__ _ ,;:..__,.,,,,,::....,,_.""'":, ' l•""'•lf\M"U.,,:o,J �,,..,J-�'lli : • '. '"' ...... 1� ! •-, � ·" ,1• 'f·"
-\t.!';,t,.:i.-lC,111:f1
·; .v.�·:'w':.,,�i.1 . . . - . -� .. ,.,.. :-:;..•
.
PJI.I Soul'C9: Suisun City Wuerlront District Speclfk Pl•n (November 2016) ko;A\� KOSMONT COMPANIES
km;. Source: CoStar: Crexi: Google Maps KOSMONT COMPANIES 2/27/2025
67 68
40 SWOT ANALYSIS
34-ACRE & CLOVERLEAF
Strengths
0 ■ Situated near Highway 12, a significant
regional connector, providing excellent
visibility with 34,200 vehicles per day
(VPD).
■ Proximity to major commercial and
residential areas in Suisun City, enhancing
accessibility and market demand.
■ Marina Blvd. also has high visibility with
moderate traffic counts (9,600VPD).
• Both sites have flexible zoning for retail,
commercial, and residential.
■ DMU zoning: creating vibrant, walkable
developments incorporating retail,
residential, and entertainment venues,
catering to modern urban preferences.
Opportunities
■ High traffic volume on Hwy. 12 and Marina
Blvd offers opportunity to create retail /
service hub for commuters, residents, and
regional travelers.k,�1.
69 ko sa , Source: CoStar; Crexi; Google Maps
70 Weaknesses
0 Threats
• The scale of the property may require
substantial investment in infrastructure
(e.g., roads, utilities, and public
amenities) to make it development
ready.
■ Adjacency to lower-density residential
areas may limit some high-impact uses,
such as large-scale industrial or high
traffic entertainment facilities.
• Market feasibility and regional
competition from other retail hubs.
• Competing commercial and mixed-use
developments in Fairfield/ nearby cities.
• Consumer behavior shifts toward e
commerce could reduce demand for
certain types of retail space.
KOSMONT COMPANIES 69
KOSMONT COMPANIES 70
2/27/2025
41 SWOT ANALYSIS
CAL TRANS SITE
Strengths
0 ■ Proximity to Hwy 12 (41,600VPD)
provides excellent visibility and accessibility
for potential retail or commercial uses.
■ Zoned DMU (Downtown Mixed Use},
allowing for diverse development options.
■ Located within the Suisun-Fairfield Train
Station District under the Downtown Weaknesses
Waterfront Specific Plan (DWSP), aligning
with transit-oriented development goals.
■ Near utilities and established roadways,
reducing initial infrastructure development
costs.
■ Opportunities for funding or tax incentives
for transit-oriented or mixed-use
developments.
Opportunities ■ High visibility provides potential to fill retail Threats gaps, especially for underserved categories like grocery, health services, or community-
focused amenities.
71 Source: CoStar; Crexi; Google Map•
72 ■ Operates as a Caltrans parking lot,
requiring significant site preparation for
redevelopment.
■ Traffic counts of I ,800-3,400VPD on
local streets may not currently support
high-demand retail uses without
increased regional draw.
■ Potential need for environmental
remediation due to prior use as a
transportation site.
■ Market Feasibility and regional
competition.
■ 3rd party investment needed based on
economic feasibility and zoning.
KOSMONT COMPANIES 71
KOSMONT COMPANIES 72
2/27/2025
42 SWOT ANALYSIS
LOTZ WAY
0 Strengths
• Vacant real estate with strong location
along major corridor and access to Marina
Blvd.
• Strong traffic counts - significant visibility
from Hwy 12 with 41,600VPD traffic,
ensuring strong exposure for commercial
and retail uses.
• Split zoning for Downtown Commercial
(DC) and Residential High Density (RHO)
allows for mixed-use developments,
including retail, office, and high-density
housing.
• Close to transit hubs and key employment
areas, offering potential for residential and
retail integration.
Opportunities
• RHO zoning allows for high-density housing
(24-51 du/acre), which can complement
retail demand by increasing the local
customer base.
73 Source: CoStar; Crexi; Google Maps
74 Weaknesses
0 Threats
• While near major routes, local street
traffic (4,200VPD) may be insufficient to
sustain high-demand retail without
additional regional draw.
■ Conditional Use Permits (CUPs) may be
required for some uses under RHO
zoning.
■ Proximity to lower-density residential
could limit certain commercial activities.
■ Development may require upgrades to
roadways, utilities, and stormwater
management to meet modern
standards.
• Market Feasibility and regional
competition.
■ 3rd party investment needed based on
economic feasibility and zoning.
KOSMONT COMPANIES 73
KOSMONT COMPANIES 74
2/27/2025
43 SWOT ANALYSIS
FIRE STATION
Strengths
@)
■ Vacant / unencumbered real estate.
■ Good visibility exists from Hwy 12 with
high traffic counts (4 I ,600VPD).
■ Direct access via Marina Blvd.
■ Zoning flexibility that aligns with DWSP.
■ Located in HarborVillage/Victorian Harbor
District supporting development in Weaknesses
Downtown Waterfront area.
■ Good location for single-family townhome
product that compliments nearby residential.
■ Public use opportunities.
■ Close to transit hubs and key employment
areas, offering potential for residential and
retail integration.
Opportunities
■ RMU zoning encourages integration of
residential and retail uses, aligning with city Threats growth strategies.
75 kosl.. Source: CoStar; Crexi; Google Map,
76 ■ Lower traffic counts (4,200VPD)
surrounding the site
■ Traffic counts likely insufficient to
sustain regional retail.
■ Proximity to lower-density residential
could limit certain commercial activities.
■ Development may require upgrades to
roadways, utilities, and stormwater
management to meet modern
standards.
■ Market Feasibility and regional
competition.
■ 3rd party investment needed based on
economic feasibility and zoning.
KOSMONT COMPANIES 75
KOSMONT COMPANIES 76
2/27/2025
44 SWOT ANALYSIS
SOUTH WATERFRONT LOTS
0 Strengths
• Prime waterfront location within the
downtown core district.
• DMU zoning would allow for retail, office,
entertainment, civic, and drive-thru uses.
■ Pedestrian-friendly environment with
proximity to Main St. and waterfront
promenade.
• Potential for moderate-to-high-density
housing with waterfront units and views.
• Improve visitors and traffic with higher
concentration of residential units along
waterfront.
Opportunities
• Opportunity to revitalize aging downtown
core area with retail and re-envision space as
blended use.
■ Create a more intentional walkable district.
77 78
• Incorporate Transit Oriented Communities
(TOC) policies released by MTC/ABAG and
potential funding.
Weaknesses
0 Threats
• Parcels not contiguous.
• Small parcel size (0.65 acres) limits
development to small-scale commercial
uses.
• Very low traffic and visibility in southern
portion of the City (no recorded traffic
counts available).
• Potential utility and roadway
improvements necessary to support
intensified uses not currently available
now.
• Limited activity and visibility in the
southern portion of the City along
waterfront.
• Market feasibility for commercial and
residential.
■ Environmental clearances and compliance
uncertainties near waterfront.
KOSMONT COMPANIES 77
KOSMONT COMPANIES 78
2/27/2025
45 SWOT ANALYSIS
KELLOG STREET
0 Strengths
0 • Prime waterfront location within the
southern downtown waterfront district.
• Pedestrian-friendly environment with
proximity near waterfront promenade.
• Larger site in southern waterfront area
allows for some commercial uses near
walkable public spaces / promenade. Weaknesses
• CUP would be necessary to promote
commercial uses (conditional permitted
uses) and enhance activity.
• Opportunity to revitalize aging downtown
core area with new uses and re-envision
area as walkable public space.
• Create a more intentional walkable district
with trails, parks, outdoor seating areas, and
Opportunities other public uses. Threats
79 80
• Incorporate Transit Oriented Communities
(TOC) policies released by MT C/ABAG and
potential funding.
5. DEVELOPMENT FEASIBILITY ANALYSIS
SUISUN CITY - ECONOMIC DEVELOPMENT STRATEGIC PLAN
• WC zoning would only allow for
boating, marine, and water-related uses.
Very low traffic and visibility in southern
portion of the City (no recorded traffic
counts available).
• Potential utility and roadway
improvements necessary to support
intensified uses not currently available
now (gas line).
• Limited activity and visibility in the
southern portion of the City along
waterfront.
• Market feasibility for commercial and
residential.
• Environmental clearances and compliance
uncertainties near waterfront.
KOSMONT COMPANIES 79
KOSMONT COMPANIES 80
2/27/2025
46 81
82 kos. Source: CoStar; Crexi; Google Maps
RESIDUAL LANDVALUE (RLV)APPROACHAND
KEY FINDINGS
KOSMONT COMPANIES I 81
• Kosmont analyzed the residual land value (RLV) for each land use component in order to assess financial feasibility of new development.
• RLV analysis is based on the principle that the value of land is determined by what can be built on that land, and how expensive is it to build.
• Analysis indicates that residential development yields the highest RLV and, from a market perspective, is in highest demand. The following summarizes key observations:
1. Townhomes demonstrate the highest positive residual land value in the range of $2.SM to $3.SM per acre. Given the highest RLV, for-sale residential would likely be the first component of a blended-use project to be developed.
2. Market-rate apartments yield a lower positive residual land value in the range of $2SOK to $?SOK per acre.
3. Affordable housing yields effectively zero residual land value.
4. Assuming ~1 S0,000 SF of retail, residual land values is estimated in the range of $0 to $SOOK per acre.
5. A hotel of 120 rooms yields a positive residual land value in the range of $2SOK to $SOOK per acre.
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84 EXAMPLE DEVELOPMEN T COST ASSUMPTIONS
Site Costs
City Fees
Parking Requirement
Architecture &
Engineering
Onsite infrastructure and landscaping were estimated at approximately $15 per SF, subject to additional infrastructure cost due diligence
City development fees are approximately $10 per sq. ft. or $20,000 per unit for Residential Commercial requires 4 spaces / 1,000 SF while Residential requires +1.5 spaces per unit, with potential opportunity for shared parking.
Townhome building construction cost is estimated at $200 per gross SF (~$290,000 per unit). MF building construction cost is estimated at $210 per gross SF for an average cost of nearly ~$210,000 per unit.
For Commercial, hard costs are estimated $210 per SF plus $35 per SF tenant improvement allowance.
Design costs for architecture and engineering are estimated at 3% of hard costs.
Cost Estimate Sources: CoStar, Watry Design Parking, general contractor Construction costs are ve,y difficult to estimate as they have been rising significandy along with cost of capital (e.g. high Interest rates and low availability of market funding).
Cons will also be impacted by due diligence of site conditions. Rents wfll be impacted by marlcetdemand. KOSMONT COMPANIES I 83
EXAMPLE OPERATING REVENUE ASSUMPTIONS
Estimated Rents
Vacancy Rate and
Operating Costs
Threshold Rate
Retail rents estimated at $36.00 per SF NNN per year
Class A apartment monthly rents estimated at $2,600 per month Affordable monthly rents estimated at $1,500 per month
Hotel 12-month ADR estimated at $145.00
Apt. operating costs equal to 35% of effective gross income or $~10,000 per unit Bad debt and vacancy rate of 5% of gross market rents is assumed Multi-family threshold investment rates are estimated at a 5.0% cap rate Commercial threshold investment rates are estimated at 6.5-7.5% cap rate � Source: Est Operating Revenue Assumptions derived from CoStar and discussion with regional development partners ko:�ffl_ KOSMONT COMPANIES I 84
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86 APPROXIMATE RESIDU AL LAND VALUES FOR VARIOUS
POTENTIAL LAND USE SCENARIOS
Land Use Assumptions
Density per Acre
Land Size (AC)
Land Size (SF)
Program Assumptions
No. of Units
Avg. Rentable Unit Size
Total SF (Net)
Total SF (Gross)
Keys (Hotel)
Total Development Cost
Sales / Capitalized Value (cop rates)
Townhomes Market Rate A ts. Affordable A pts. RetaJI/Commerc lill 100%
22 7.5
326,700
165
1,435
236,775
236,775 85%
$91,117,000
$137,222,000 5.0%
35 3
130,680
105
850
89,250
105,000 85%
35 2.5
108,900
�
850
74,375
87,500 100%
15 653,400
150,000
150,000 80%
$34,061,000 $27,376,000 $64,668,000
$40,459,000 5.0% $19,451,000 6.5% $74,977,000 7.5%
Hotel
87,120
50,000
62,500
120
$18,863,000
$22,525,000
Residual Land Value Range Per Acre $2.SM to $3.SM $250,000 to $750,000 Effectively $0 $0 to $500,000 $250,000 to $500,000 f/11'. Source: Kosmont preliminary residual land value analysis by asset types. Analysis assumed a residential and commercial development on the 3-4-;,cre site (30 acres ko;�-- of residential & commercial and '4 acres for open space): RetaiVCommercial assumes a 55,000 SF medical office facility among other food and non-food retail shops. KOSMONT COMPANIES 85 Development cost.s do not account for any major infrastructure.
TOD CASE STUDY SUMMARY
• Various transit-oriented development (TOD) case studies from across Northern California were researched for anecdotal evidence of successful TOD implementation in the local region. • The case studies included herein illustrate the various forms of blended-use projects that support feasibility in TOD environments with similarity to Downtown Suisun. • Case study research reinforces that successful transit-oriented development (TOD) relies on having a core population base (i.e., housing) located in the immediate proximity of a fixed transit center.
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88 I
TOD CASE STUDY:WALNUT CREEK TRANSIT VILLAGE
• 596 multi-family housing units
• 27,000 SF of retail
• BART parking garage
• BART zone command police facility
• lntermodal bus facility
• Approx. 16 acres
Source: BART (2025)
kos� KOSMONT COMPANIES f 87
TOD CASE STUDY: RICHMONDTRANSITVILLAGE
• 23 I for-sale townhomes
• 27,250 SF retail
• 3,700 SF intermodal transit building
• Approx. 17 acres
Source: BART (2025)
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90 TOD CASE STUDY: HAYWARD
• 170 for-sale townhomes
• City Hall and Civic Center, plaza
• Greyhound facility
• Approx. 8 acres
Sou:rce: SAR.T (2025)
k,K.
6. FISCAL IMPACT ANALYSIS
SUISUN CITY - ECONOMIC DEVELOPMENT STRATEGIC PLAN
2/27/2025
KOSMONT COMPANIES I 89
KOSMONT COMPANIES I 90
51 91
92 FISCAL IMPACT ANALYSIS
PURPOSE AND KEY FINDINGS
• To understand the City general fund impacts from new development within the City, Kosmont prepared a fiscal impact analysis model to estimate the potential future fiscal revenues (e.g., property tax, sales tax, transient occupancy tax), fiscal expenditures (e.g., public safety service costs, ongoing public works costs), and resulting net fiscal impact on the City's General Fund.
• Kosmont analyzed different scenarios of land use mix (e.g., retail versus blended-use, industrial, etc.) in light of market supply and demand analysis findings.
• Th e analysis finds that blended-use projects that incorporate different residential project types along with commercial components would likely deliver significantly positive general fund fiscal impacts, aided in large part by the passage of Measure S.
• Key revenue sources from new development include property tax, property tax in lieu of motor vehicle license fees (MVLF), sales tax, Measure S sales tax, and the City's Community Facilities District No. 2. • Key expenditure sources include police and fire (public safety) services.
KOSMONT COMPANIES
2 Lotz Way
3 Potential Civic Center Reuse
4 West Side Waterfront
91 KOSMONT COMPANIES 92
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94 2 Lotz Way
3 4 -$4.6M in annual revenues - $2.3M in annual expenditures= -$2.3M annually in NET General Fund revenues
~$68.4M over 30 years
Note: Primary expenditures include police, fire, and other munkipal services KOSMONT COMPANIES 93
FISC AL IMPACT ANALYSIS REVENUE AND EXPENSE DETAIL
EXAMPLE DETAIL FOR 34-ACRE SITE
Estimated Suisun City Revenues
Property Tax - General
Property Tax In-Lieu of MVLF
Property Transfer Tax
Sales and Use Tax - Direct/ On-Site
Measure SV oter Approved Transactions Tax - Direct
Sales and Use Tax - Indirect/ Off-Site
Measure S Voter Approved Transactions Tax - Indirect
Transient Occupancy Tax
CFD No.2
Franchise Taxes I Fees
All OtherTaxes
Business Licenses
Fines & Forfeitures
Charges for Services
Intergovernmental
Estimated Total Revenues
Source: Kosmont Companies Fiscal Impact Analysis (2024) $221,900
$207,400
$11,400
$336,000
$525,000
$51,700
$80,700
$527,600
$462,300
$55,400
$3,100
$49,800
$7,900
$54,000
$19,600
$2,613,800
Estimated Suisun City Expenditures
Elected Officials
City Manager
Non-Departmental
Development Services
Recreation, Parks & Marina
Administrative Services
Public Works
Fire
Police
Estimated Total Expenditures
Estimated Annual Net Fiscal Impact
$16,000
$31,600
$53,500
$64,600
$63,700
$67,800
$101,000
$239,400
$474,500
$1,112,100
$1,501,700
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96 7. ECONOMIC DEVELOPMENT TOOLS
SUISUN CITY - ECONOMIC DEVELOPMENT STRATEGIC PLAN
KOSMONT COMPANIES I 95
TODAY'S ECONOMIC DEVELOPMENT PLAYBOOK
kos�
■
New Tax Increment Financing (TIF) Districts
(e.g., EIFDs, CRDs, CRIAs)
Real Estate Strategies (Surplus Land Act, Business Attraction) $
Grant Funding - Federal and State Sources
$
$1.6 T + in overall funding made available for infrastr-ucture, energy, and climate focused investment and projects
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I
98 ECONOMIC DEVELOPMENT TOOLS OVERVIEW
UTILIZE THESE TOOLS TO ATTRACT, FINANCE, AND OPTIMIZE DEVELOPMENT I) Infrastructure Financing Districts
2) Zoning and Land Use Strategies: Specific
Plans with Development Opportunity Reserve
(D.O.R.)®
Use tax increment financing (TIF) districts, such as Enhanced Infrastructure Financing Districts (EIFD) or Climate Resilience Districts (CRD) to capture taxes from assessed value increases to fund infrastructure needs to unlock private investment
Create flexible zoning with an updated Waterfront District Specific Plan to adapt to market trends and customer dynamics; Capture the value from zoning changes to link new density to community benefits and public amenities.
Utilize the value of City properties, such as via competitive Request for Developer Qualifications 3A) Real Estate / Housing Strategies (incl. SLA) and Proposals (RFQ/P), after first complying with Surplus Land Act requirements for maximum flexibility for the private sector. State is mandating housing, and cities can capture value from new housing developments.
3B) Business Expansion,Attraction,and
Retention (BEAR)
4) Grants and Other Public Funding
Proactively attract new businesses and development, and retain and expand existing businesses to generate revenues (sales tax, TOT) for the City
Pursue grant funds available at the state and regional level (e.g., MTOABAG) for infrastructure, climate resilience, housing, and other development projects KOSMONT COMPANIES 97
PLAYBOOK PT 1: TAX INCREMENT FINANCING (TIF)
TOOLKIT
Enhanced
Infrastructure
Financing District
(EIFD)
Most flexible, most
widely used
NEW - focus on climate
related mitigations &
infrastructure
More emphasis on
affordable housing (25%
set-aside)
TIF Districts can elevate eligibility for State funding KOSMONT COMPANIES 98
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55 99
100
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WHY PUBLIC AGENCIES AUTHORIZE TIF DISTRICTS?
I. Return on Investment ("ROI"): Private sector investment induced by district commitment on a "but for" basis accelerates growth of net fiscal revenues, job creation, housing production, essential infrastructure improvements
2. Ability to attract additional funds / other public money ("OPM") - tax increment from other entities (county, special districts), federal I state grants/ loans (e.g., for TOD, water, housing, parks, remediation)
Apple Valley
- -- �-- - : : :. (CRIA)
TIF PROGRESS STATEWIDE
(PARTIAL LIST)
'
0CarwanClly
Brentwood
Buena Park
Calipatria (CRD)
Carson + LA County
Citrus Heights
Covina
Fairfield
Fresno
Fresno County
utnl!ql(# _County
Inglewood (CRD)
Imperial County
\f�ri,.i +_ LA C<iuntr
_ �9<1 + LA. cciiint.i:
Long Beach
Los Angeles (Downtown, San Pedro, other)
Los Angeles County Wea Carson
Madera County (3 Districts)
Modesto + Stanislaus County
Mount Shasta
�
Norwalk+ LA County
Ontario
PallJl(lak • LA Count)'
Pl<tsburg
Pb.centi. • Orange County
Rancho Cucamonga
Redlands
Redondo Beach + LA County
Riverside County Thousand Palms
Sacramento County (Unincorporated)
San Rafael (EIFD + CRD)
Sanger
Santa Cruz (EIFD + CRD)
Santa Rosa + County of Sonoma
Selma
Vacaville
Yuc.;i
Fully Formed
KOSMONT COMPANIES
Industrial and housing supportive infrastructure
Downtown revitalization, industrial infrastructure
Industrial and housing supportive infrastructure
99 Housing. employment, and transit-supportive Infrastructure MaH reimagination, tourism-supportive infrastructure
Economic and climate resilience infrastructure
Remediation, affordable housing. recreation
Mall reimagination
Downtown hou•ing and blended use supportive infrastructure Downtown, housing. and transit-supportive infrastructure Downtown, housing and transit-supportive infrastructure Industrial and commercial supportive infrastructure
it�!��.�:a'M ����e -ij,f�ct\lr�
Transportation and affordable housing
Renewable energy. housing and infrastr!.lcture
HOU$Ulg and transit-supportive infrastructure
MaN reimagination, smart streets, affordable housing
Economic empowerment and affordable housing
Affordable housing and transit-supportive infrastructure Housing/ bio-science / tech infrastructure
Water. sewer, roads and other housing Infrastructure
Downtown, housing. and recreation infrastructure
Rural brownfield mixed-use infrastructure
Downtown, housing. ;ourism supportive infrastructure
Affordable housing and infrastructure
Airport-related, blended use, infrastructure
:H!!�&.�j.\lJ!!.�iiir..tra�r� iiir'iii....,_,__ __ 11 Housing. commercial and tech park infrastructure H9u�ll8 � J"OC.f�ctij -�c .. __ _
�-�� 4':\!�.!\!IC<!OO�-��
Education related blended use, mall reimagination
Parks / open space. recreation infrastructure
Housing. hospitality, medical supportive infrastructure Industrial/ commercial supportive infrastructure
Blended-use and climate resilience infrastructure
Commercial hospitality, supportive infrastructure
Downtown, blended use, and climate resilience infrastructure Downtown investment. affordable housing, aging infrastructure Water, sewer, and other housing supportive infrastructure Housing and business park infrastructure
Housin and commercial infrastructure
In Formatiol\ Process
56 101
PLAYBOOK PT 2: VALUE CAPTURE USING ZONING /
UPDATED SPECIFIC PLANS
• Increase Flexibility: Review and revamp zoning and permitting requirements to ensure flexible requirements that can accommodate market and changing business and customer dynamics. • Streamline Process: Identify business and project categories that are particularly beneficial and create a fast and predictable process for review / approval.
• Encourage Active Uses: Provide an easy permit process for interesting and dynamic uses - such as pop-up users, live music / events, outdoor dining permits, and artistic improvements / installations - that can enhance visitors' experiences
• lncentivize Reuse of Struggling Spaces: Provide flexible building permit rules for properties suited for adaptive reuse and incentivize conversion of vacant commercial buildings into other uses (such as hotel and residential). • Specialize: Tailor requirements for infill development to recognize the often-challenging circumstances involved in infill developments.
KOSMONT COMPANIES I IO I
VALUE CAPTURE ZONING ™ USES ZONING AS
CURRENCY
City "manufactures"
new bank of Density via
Specific Plan / Zoning
City places pre-approves new
Density places in DOR h. Bank &
adopts amenity list;
Development projects apply
City selectively distributes DOR "
Density for Projects that deliver
Amenities & Infrastructure via O.A.
(Zoning as Currency)
When possible, Cities should avoid giving away density in a specific plan or entitlements without tying density to projects that deliver community benefits and public amenities and/or pay fees 102
( What Is a DOR e Bank? Pre-approved new density that is linked to preapproved public amenities I infrastructure or a density fee �:
I . I
1 via a Development Agreement : '-------------------------------------------------------------- -------------------------------- kosl_ KOSMONT COMPANIES I I 02
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57 HOW ARE CITIES USING VALUE CAPTURE ZONING™?
VALUE CAPTURE ZONING™ STRATEGY:
BUELLTON
DEVELOPMENT OPPORTUNITY RESERVE (DOR)®
VALUE CAPTURE ZONING™ STRATEGY:
HERMOSA BEACH
LAND VALUE RECAPTURE PROGRAM
The City of Buellton included a DOR® tool in its Avenue of the Flags Specific Plan to encourage development in the downtown area and create a vibrant main street.
City council recently approved a land value recapture program to recover & reinvest land value increases via new approved residential zoning for redevelopment in the City's commercial districts.
DOR® tool trades zoning incentives (density, building heights, parking. setbacks, fees, etc.) to projects that deliver community amenities, infrastructure, or other benefits.
Market-rate housing developments will be required to pay $76 - 104 per square foot to a Hermosa Beach fund that aims to support development of affordable housing.
The following communities have implemented or are considering Value Capture Zoning™ / DOR®:
• El Monte • Placentia • Scotts Valley
• Temecula • Burbank • Hermosa Beach
• Palmdale • Seaside
• Buellton • Jurupa Valley
103
KOSMONT COMPANIES 103
PLAYBOOK PT 3: REAL ESTATE STRATEGIES FOR PUBLIC
AND PRIVATELY OWNED PROPERTIES
The Old Days: Sell / lease a Public Agency property? iust put out an RFP/Q It's a New World Order: SLA requires public agencies to first go through a process of offering property to affordable housing developers before pursuing other opportunities.
And ... a New Opportunity: Public agencies should look at SLA as a "Value Capture" Opportunity to more efficiently use district-owned properties to fulfill community a:oals and objectives:
• Establishing revenue streams via performance-based leases or ground leases • Using Special Districts exemption to enable uses that support District operations • Maintaining and monetizing properties for public use like parking, civic centers, parks, and facilities • Promoting mixed-use development to create jobs and increase tax revenue • Supporting affordable housing and community development initiatives 104
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106
CI TY-OWNED PROPERTIES
Ni■
KOSMONT COMPANIES I I 05
REAL ESTATE STRATEGIES FOR PUBLICLY-OWNED
PROPERTY
Public agency land is often under-utilized, offering the potential to increase value and revenues (e.g., property tax, sales tax, TOT). Local government-owned real estate can be leveraged to increase revenue and help stimulate economic development projects. The land can include former redevelopment Agency ("RDA") properties, public use properties (civic centers, fire stations, recreation), and surplus property (city, school district, utility, other), rights of way (streets, alleys, parking lots and parking structures).
In order to provide potential developers maximum flexibility regarding land use and product mix, Kosmont suggests proactive navigation of Surplus Land Act (SLA) requirements, including consideration of available exemptions (e.g., small parcel exemption, public use exemption).
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108
REAL ESTATE STRATEGIES FOR PRIVATELY-OWNED PROPERTY:
BEAR= BUSINESS EXPANSION, ATTRACTION, AND RETENTION
Cities can pro-actively reach out to select private property owners to facilitate real estate developments to advance the City's economic development goals.
■ Property Owner Outreach - collaborate with property owners to understand their plans for properties, challenges that they face with development, and opportunities that may align with economic development goals. Regularly contact the top Sales Tax generators / employers / suppliers.
■ Rehabilitation / Renovation - encourage rehabilitation and/or renovation of facilities, signage or store-front facades; can include public programs such as fac;ade improvement loans / grants, or assisting with identifying other sources of funding. ■ Marketing -Highlight the city as a business-friendly destination with community assets, talented workforce, and success stories. ■ Outreach: Conduct targeted outreach to developers, businesses, and brokers with opportunity site marketing collateral, correspondence, meetings/ site tours, and participation at industry events (e.g., ICS 1 C).
■ Public-Private Partnerships (P3) - Enter into formal partnerships with property-owners that commit City resources to fund improvements (e.g., infrastructure) that will advance both the property owner's goals for development and the City's goals for economic development.
kos� KOSMONT COMPANIES 107
PLAYBOOK PT 4: GRANTS AND OTHER PUBLIC
FUNDING
There is a wide variety of grant programs and funding sources available through the state and federal government. New grant programs are added every year, many with a focus on housing and climate resiliency. Cities should periodically review available grant sources and pursue grants that align with the city's economic development goals (a grant-writing firm can provide assistance if the City's internal resources are limited).
Additional funding may be available on a regional level, such as via MTC / ABAG, particularly given the City's Priority Development Area (PDA) designation. Very importantly, MTC / ABAG has published Transit Oriented Community (TOC) Policies that prioritize available funding for communities that meet certain requirements related to density, housing affordability, and other factors. The City should carefully consider options for meeting such requirements if funding is pursued, such as affordable housing set-side mechanisms ($$$) versions higher inclusionary housing requirements (higher % affordable).
kos�
Recent Economic Development &
Climate Grant / Funding Programs
• Regional Early Action Planning (REAP)
• Local Early Action Planning (LEAP)
• Infill Infrastructure Grants (IIG)
• Affordable Housing and Sustainable Communities
(AHSC)
• Community Economic Resilience Fund (CERF)
• Multifamily Housing Program (MHP)
• ICARP Regional Resilience Grant Program (RRGP)
• Infrastructure State Revolving Fund (ISRF)
• Homeless Housing.Assistance, and Prevention
(HHAP)
• Infrastructure State Revolving Fund (ISRF)
• Coastal Conservancy Grants
• Adaptation Planning Grant Program (APGP)
• Strategic Growth Council grants
• Infrastructure Investment and Jobs Act (IIJA)
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110
FUNDING OPPORTUNITIES ON STATE AND FEDERAL
LEVEL
Federal Programs State Programs
Inflation Reduction Act
(IRA)
Funds available through tax
credits and rebates for
individuals and tax-exempt
financing for projects aimed at
inducing private sector
investment.
. . Affordable Housing B1part1san Infrastructure and Sustainability law (Infrastructure C . . P ommun 1t1es rogram Investment and Jobs Act) (AHSC} Funds for roads, bridges,
railroads, broadband, water,
public transportation, airports,
cyber security, climate
resiliency, brownfield cleanup,
electric vehicles, and more
CA Program:
EIFD Preference
$1 - $30 million awards
for affordable housing,
housing infrastructure,
transportation, related
amenities, program costs
Infill Infrastructure
Grants (IIG) + Catalyst
Program (IIGC)
CA Program:
EIFD Preference
$1 - $7.5 million grants for
infill projects / areas, gap
funding for
infrastructure for
residential / mixed-use
with some affordability
requirements
Multifamily Housing
Program (MHP)
Funding for rental
housing; includes land
lease payments,
construction / rehab,
offsite infrastructure
improvements
$400 Billion in IRA Funds, $550 Billion in Federal Infrastructure Funds, Millions More in State Programs
KOSMONT COMPANIES
8. POTENTIAL NEXT STEPS AND TIMING
SUISUN CITY - ECONOMIC DEVELOPMENT STRATEGIC PLAN
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109
110
61 111
112
SUMMARY OF FINDINGS
The City's long-term fiscal and economic health relies on a balance of housing, employment, and entertainment land uses that supports a diversified municipal revenue base (e.g., property tax, sales tax, hotel transient occupancy tax).
■ Development pro forma analysis additionally supports the concept that blended-use formats will be required in order to achieve financial feasibility for new development in 2025, particularly when higher value, for-sale residential components are included.
■ The City's resident and business profile, along with real estate market supply and demand analysis, suggest that opportunities exist to capture a greater portion of resident and employee spending within the City, such as across the quick-service and full-service restaurant categories.
■ Case study research reinforces that successful transit-oriented development (TOD) relies on having a core population base located in the immediate proximity of a fixed transit center.
Market analysis additionally indicates that the addition of new housing units will be critical to support the feasibility of attracting new commercial retail and entertainment uses, and also retaining and expanding existing businesses within the City ("retail follows rooftops") .
• General fund fiscal impact analysis illustrates that activation of several key development opportunity sites within the City can provide sustainable revenue generation (net of municipal service costs).
Housing should not be viewed as a fiscal "loss-leader" in today's real estate market, but rather as a growth-driver; especially given the increasing work-from-home trends and increase in e-commerce activity in most markets. We call this Housing as Economic Development (HEED)™.
■ Successful implementation of economic development for Suisun will require that the City leverage its strengths, such as the various key real estate assets it controls throughout the City (subject to Surplus Land Act compliance), the available funding and financing tools authorized at the State and local level, and the recruitment of qualified, well-capitalized partners in the private sector real estate development community.
KOSMONT COMPANIES
POTENTIAL IMMEDIATE NEXT STEPS AND TIMING
Act ivity Implementat ion Category
I) Surplus Land Act (SLA) Compliance: Proceed with required notices, offerings, Real Estate Strategies good faith discussions with interested parties to provide certainty and maximum flexibility for future development for prioritized publicly owned properties 2) Updated Waterfront District Specific Plan: Given updated market and economic Value Capture Using Zoning conditions (evaluated in this EDSP), updated Specific Plan to facilitate and incentivize desired land uses with realistic implementation feasibility 3) BEAR Attraction and Recruitment Activities: Informed by progress with SLA Real Estate Strategies compliance for publicly-owned properties, develop marketing collateral promoting opportunity sites and Suisun City in general as an economic development destination, set meetings and attend industry conferences such as ICSC Las Vegas (May 2025) to establish relationships with potential private sector partners
4) Evaluate Potential Infrastructure FinancingTools: Evaluate available tools such as NewTIF Districts Enhanced Infrastructure Financing Districts (EIFD), which leverage future property tax dollars (potentially including a County match) to address infrastructure investment needs to catalyze private sector development
5) Evaluate Regional, State, and Federal Funding Opportunities: Research and Grants and Other Public Funding pursue available funding from sources such as MTC / ABAG and State Department of Housing and Community Development, considering sources that prioritize applications from communities that leverage other innovate tools (e.g., EIFD, updated Specific Plans) Est imated Tim ing
QI-Q4 2025
QI-Q3 2025
Q2 2025 - ongoing
Q3 2025 - 2026
Q2 2025 - ongoing
Ill
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SUISUN CITY
ECONOMIC AND MARKET ANALYSIS
W
230 I Rosecrans Ave .. Suite 4140
El Segundo, CA 90245
TEL: 424-297-1070 I URL: www.kosmont com
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