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Related Bristol Specific Plan Entitlements & Development Agreement (3600 S. Bristol St.) <br />and Staff Resolution Modifying Parking Districts in the Surrounding Area <br />September 17, 2024 <br />Page 33 <br />4 <br />5 <br />1 <br />6 <br />Net General Fund <br />Fiscal Impact to the <br />City <br />$2,819,057 $3,394,248 $575,191 <br />Sources: Existing Site Calculations <br />from Natelson Dale Group, <br />Inc. February 2023 based on <br />FY22-23 data <br />Proposed Project <br />Calculations from Natelson <br />Dale Group, Inc. February <br />2023, updated by DTA March <br />2024 after Peer Review <br />Estimated Net Change, <br />based on FY22-23 data <br />Table 6c: Land Residual Value Findings <br />Topic Existing Site Proposed Project Net Change <br />Total Net Assessed <br />Value (NAV) <br />-$2,377,266,000 <br />Total Costs -$1,779,371,000 <br />Excess of NAV over <br />Costs <br />$597,895,000 <br />Source: Study prepared by DTA (Sep. 2023) <br />Table 6d: Community Benefits Impacts Findings <br />Topic Existing Site Proposed Project Net Change <br />Housing Construction 0 units 3,750 units 3,750 units, providing a <br />jobs-housing balance <br />that exceeds the <br />Statewide average of <br />1.260, and assisting the <br />City with meeting its <br />RHNA allocations <br />Affordable Housing In- <br />Lieu Funds <br />$0 Approximately $18 <br />million, depending on <br />unit sizes and mixes <br />Approximately $18 <br />million, depending on <br />unit sizes and mixes <br />Publicly Accessible <br />Open Space <br />0 acres 13.1 acres 13.1 acres of publicly <br />accessible open space <br />comprised of the Bristol <br />Plaza, Bristol Green, <br />Bristol Central Park, the <br />Greenlink, and other <br />plaza and landscaped <br />areas throughout the <br />41-acre site <br />Urban Design and <br />Image of the City <br />Traditional, suburban <br />shopping center with <br />surface parking, no <br />community amenities, <br />and outdated buildings <br />Contemporary, iconic <br />mixed-use urban village <br />with mid- and high-rise <br />structures, urban <br />village street network, <br />bicycle lanes, on-street <br />parking, outdoor dining <br />areas, and high-quality <br />furnishings <br />Enhancement of the <br />City at a key gateway <br />intersection (Bristol <br />Street and Sunflower <br />Avenue), capitalizing <br />on the success of <br />South Coast Plaza and <br />adjacency to the I-405 <br />freeway <br />  <br />  <br />City Council 22 – 33 9/17/2024