Laserfiche WebLink
ta <br />www.FinanceDTA.com <br />II PURPOSE OF A CBA <br />SECTION II <br />PURPOSE OF A CBA <br />A CBA is required for projects that seek General Plan amendments (Santa Ana General <br />Plan Land Use Element Policy LU-1.8). Community benefits are measures that are <br />voluntarily incorporated into a development project and often exceed requirements that <br />municipalities can impose to mitigate project impacts or comply with regulations. These <br />can vary widely when it comes to implementation as community benefits are specific to <br />each community's objectives and local market conditions. <br />DTA reviewed the Project's proposed community benefits, hereinafter referred to as the <br />"Community Benefits," and financial capacity to provide such benefits. Our analysis <br />evaluates two types of Community Benefits. The first type consists of financial benefits <br />the City will receive through the construction of the Project and once the Project has <br />been built -out, including additional annual recurring fiscal benefits such as property <br />taxes, TOT, and sales taxes. There is also the financial benefit of Development Impact <br />Fees ("DIFs") that can be collected by the City on a one-time basis to fund City <br />infrastructure. The second set of benefits are oriented towards enhancing residents' <br />quality of life and include improvements to parks and recreation facilities, the <br />development of measures directed towards the protection of the environment, the <br />construction of low-income housing, and the implementation of goals and policies <br />aimed at achieving the City's projected Jobs/Housing Balance. Municipalities target a <br />Jobs/Housing Balance to encourage sufficient economic growth to provide employment <br />opportunities for local residents and support local retail development and entertainment <br />opportunities. The Jobs/Housing Balance ratio is a ratio of the number of jobs in a <br />community divided by the number of housing units. A community with a sufficient <br />Jobs/Housing Balance promotes shorter commutes and reduces Vehicle Miles Traveled <br />("VMT"), therefore creating air quality benefits. <br />In assessing financial Community Benefits, the proposed Project has been compared to <br />the existing Project site that is currently underutilized. Since DTA has not been provided <br />with an executed Development Agreement or Community Benefits Agreement for the <br />Specific Plan, our narrative reflects information on Project characteristics, conditions of <br />approval, and benefits listed in the Specific Plan, as well as DTA's research regarding the <br />City and the community in which the Project is being constructed. <br />CBAs for mixed -use communities in California can vary depending on the specific project <br />and its impact on the surrounding community. Furthermore, there is not a common <br />industry definition of a CBA, so each jurisdiction may have its own set of parameters. <br />CBA requirements in one jurisdiction may not be applicable to another jurisdiction. That <br />said, the general consensus is that community benefits include the following: <br />Related Bristol at 3600 South Bristol Street <br />Community Benefits Analysis Report <br />Exhibit 10 <br />September 2Z 2023 <br />/ 3 <br />