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SUBJECT: FISCAL IMPACT MODEL OVERVIEW <br />DATE: MAY 14, 2024 PAGE 5 OF 6 <br />As mentioned, staff will run a "high" and "low" development scenario. The following <br />table is an example of assumptions that could be added to the model to show each <br />scenario. <br />Residential Units <br />100 <br />80 <br />House Value <br />$600,000 <br />$450,000 <br />Construction Value <br />$300,000 <br />$225,000 <br />HH Income <br />$120,000 <br />$67,500 <br />Absorption <br />4 years <br />8 years <br />Office <br />20,000 sq. ft. <br />16,000 sq. ft. <br />Market Value <br />$300 <br />$240 <br />Construction Value <br />$200 <br />$160 <br />Worker Spending <br />$5,000 <br />$4,000 <br />Absorption <br />10 years <br />20 years <br />Retail <br />10,000 <br />8,000 <br />Market Value <br />$250/sq. ft. <br />$200 <br />Construction Value <br />$180/sq. ft. <br />$144 <br />Worker Spending <br />$1,200 <br />$960 <br />Sales Per sq. ft. <br />$100 <br />$80 <br />Absorption <br />10 years <br />20 years <br />The following table is an example of the summary output of the model, which shows <br />revenue and expendeture by fund, as well as net fiscal impact of all funds. The model <br />provide a 20-year total and can be broken into year -by -year analyis, either for the total <br />revenues or by fund. <br />CITY COUNCIL COMMUNICATION <br />