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HomeMy WebLinkAboutCC Resolution 8650 (St. Vincents-CYO Funding Agr)RESOLUTION NO. 8 6 5 0 A RESOLUTION OF THE SAN RAFAEL CITY COUNCIL APPROVING THE FINAL WORK PROGRAM, PROVIDING $27,500 TO FUND A PORTION OF THE ST. VINCENTS/SILVEIRA OPPORTUNITIES AND CONSTRAINTS ANALYSIS FROM RESERVE FUNDS, AND AUTHORIZING THE MAYOR TO SIGN A ST. VINCENT'S/CYO FUNDING AGREEMENT WHEREAS, General Plan Policy SVS -1 states a Specific Plan shall be prepared for the St. Vincents and Silveira Properties and Council has determined is a high priority for completion; and WHEREAS, in January, 1991, the Council decided that an Opportunities and Constraints Analysis was the appropriate first step in Specific Plan development and in analyzing issues related to land uses, amounts, and locations; and WHEREAS, in March, 1991, the City Council appointed a 24 member St. Vincents/Silveira Advisory Committee and approved a draft work program for the St. Vincent's/Silveira Opportunities and Constraints Analysis; and WHEREAS, the St. Vincents/Silveira Advisory Committee has met regularly since May, 1991, become familiar with many issues related to the site; and has recommended a final work program for Council approval; and WHEREAS, the entire Opportunities and Constraints Analysis was initially to be funded entirely by the City, with eventual reimbursement by the property owners, but budget constraints precluded such funding; and WHEREAS, after significant negotiations, St. Vincents/CYO has agreed to provide $25,000 toward the cost of the Study and the County has agreed to provide $17,000 towards costs of the study, reducing the City's share this fiscal year to $17,000; and WHEREAS, funding is needed at this time for consultant assistance to complete portions of the study; and WHEREAS, an additional $10,500 is needed by next fiscal year for traffic analyses to complete the study. NOW THEREFORE BE IT RESOLVED, the City Council hereby approves the final work program to complete the study and agrees to fund a portion of the St. Vincent's Study in the amount of $27,500 from reserve funds. BE IT ALSO RESOLVED, the City Council authorizes the Mayor to sign the St. Vincent's/CYO Funding Agreement. 9R,1V11NA[ %1,.�o I, JEANNE M. LEONCINI, clerk of the City of San Rafael, hereby certify that the foregoing resolution was duly and regularly introduced and adopted at a regular meeting of the Council of said City on Monday, April 20, 1992, by the following vote, to wit: AYES: COUNCILMEMBERS: Breiner, Cohen, Shippey, Thayer & Mayor Boro NOES: COUNCILMEMBERS: None ABSENT: COUNCILMEMBERS. None JEANE M. LEONCINI, City Clerk FUNDING AGREEMENT ST. VINCENT'S/SILVEIRA CONSTRAINTS AND OPPORTUNITIES STUDY THIS AGREEMENT is made and entered into as of APRIL 20 , 1992, by and between the CITY OF SAN RAFAEL (hereinafter referred to as "City") and CYO -ST. VINCENTS or its successors in interest (hereinafter referred to as "Property Owner"). WHEREAS, San Rafael General Plan policy SVS -1 provides: SVS -1. Specific Plan. A Specific Plan shall be adopt- ed for the St. Vincent's and Silveira area prior to any development applications being approved, except for reuse of the existing St. Vincent's School facilities, minor or moderate expansion of St. Vincent's School, reuse of the Honor Farm property, or development of adjacent properties to the south of the Honor Farm. A St. Vincent's/Silveira Advisory Committee shall be appointed by the City Council to assist in the develop- ment of this Specific Plan. The Specific Plan will include a review of General Plan land uses, intensities and development locations on the St. Vincent's and Silveira lands located east of the railroad tracks, and "Conservation Area" and "Mixed Use" for 570+ acres of St. Vincent's and Silveira lands located between High- way 101 and the railroad tracks. Upper limits of planned development within the "Mixed Use" area are 2,100 homes, 100,000 square feet of commercial or neighborhood commercial, and 261,000 square feet of office. The Committee may recommend designations which modify the mix and revise this total potential down- ward"; and WHEREAS, the San Rafael City Council has determined that a St. Vincent's/Silveira Constraints and Opportunities Study (here- inafter referred to as the "St. Vincent's/Silveira Study") is an appropriate step in connection with preparation of a specific plan and in analyzing issues related to land use types, intensi- ties and locations of uses in the St. Vincent's/Silveira Study area; and WHEREAS, California Government Code section 65456, concern- ing fees for specific plans, provides (1) that a city, after adopting a specific plan, may impose a fee upon persons seeking governmental approvals which are required to be consistent with the specific plan, and (2) that such fee shall be prorated in accordance with the applicant's relative benefit derived from the specific plan; and WHEREAS, a specific plan for the area where the property of Property Owner is located will be of benefit to said property and other properties in the vicinity; and WHEREAS, Property Owner is willing to contribute funds, at this time and to the extent and subject to the terms stated here- in, toward the cost of preparing a St. Vincent's/Silveira Study in connection with a specific plan for such area; NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, the parties hereby agree as follows: 1. Property Owner to Advance Pavment of Studies. Property Owner will advance to City the costs, to a maximum of $25,000, for the St. Vincent's/Silveira Study as outlined in the Final Work Program, a copy of which is attached hereto marked Exhibit A and incorporated herein. This amount will be advanced in three payments, as follows: (a) $7,000 within 60 days of the execu- tion of this agreement, (b) $7,000 by August 28, 1992, and (c) $11,000 by December 15, 1992. Additionally, the Property Owner 2 will advance to City the costs for an economic feasibility study desired by Property Owner, as set out in paragraph 6 below. 2. Citv to Proceed with Studv. When the first payment is received by City from the Property Owner, the City will proceed with all due diligence to cause to be performed all work required for the St. Vincent's/Silveira Study, and shall concurrently with such work provide Property Owner with all of the results and products thereof, so that Property Owner will be kept fully ap- prised of progress in that regard. 3. Time for Completion of St. Vincent's/Silveira Studv. The City agrees and undertakes to publish the St. Vincent's/ Silveira Study Report within 18 months and to certify the Envi- ronmental Impact Report within 24 months from the date of this agreement. 4. Consultants. City agrees to consult with the Property Owner regarding the selection of consultants to be retained by the City to complete the work program. Selection of the consul- tants will be made by the City. 5. Desian or Ideas Competition. The St. Vincent's/ Silveira Study shall include a "design or ideas competition," an outline of which is included in the Work Program as set forth in Exhibit A. 6. Economic Feasibilitv. It is agreed that the St. Vincent's/Silveira Study shall include an economic feasibility Eel study, to be paid for by the Property Owner, an outline and cost range of which is attached as Exhibit B. 7. Reimbursement upon Adoution of Specific Plan. Should a Specific Plan be required at the end of the St. Vincent's/ Silveira Study, the work program costs identified in Exhibit A, plus staff costs, for preparation of the St. Vincent's/Silveira Study shall be included in the Specific Plan costs. Upon adop- tion of the Specific Plan, the City shall require proportionate reimbursement from the St. Vincent's and Silveira property owners at the time development applications are submitted, and St. Vincent's shall receive credit for the costs supplied by it as part of this agreement. 8. Permission to Enter Property with Notice/Hold Harm- less/Indemnification. (a) Subject to the following notice requirements, Property Owner hereby grants permission to persons under contract to or employed by the City to enter upon the St. Vincent's prop- erty to conduct the St. Vincent's/Silveira Study. (b) City, through its contractors or employees, shall notify the Property Owner at least 48 hours prior to entering the property. Said notice shall be accomplished by telephone contact with one of the following persons: Michael Marovich, CYO -St. Vincent's Director, at (415) 664-4400, Joe Bracco, at (415) 479- 8831, or James E. Stark, at (415) 469-4997. (c) City shall assume all risks of damage to the prop- erty of Property Owner by persons under contract to or employed 4 by the City in the conduct of the St. Vincent's Silveira Study. (d) City further agrees to indemnify and save harmless the Property Owner from any and all claims, liabilities, costs and attorney's fees, for loss or damage to property and for inju- ry to or death of any person arising out of the conduct of the St. Vincent's/Silveira Study. IN WITNESS WHEREOF, the parties have executed this agreement as of the date first written above. CITY OF SAN RAFAEL by Mayor AlDWrt Borp, Attest: CYO -ST. VINCENT'S by jJ _ — MicMPI J. b1hrovicli Gen !Director by ' t Clerk Jea ne M. Leoncini 11 EXHIBIT A FINAL WORK PROGRAM FOR ST VINCENTS/SILVEIRA OPPORTUNITIES/CONSTRAINTS STUDY INTRODUC'T'ION The St. Vincents/Silveira Opportunites and Constraints Study provides occasion for more detailed planning for these properties and concensus building among the many groups interested in them. The study involves all of the St. Vincents and Silveira lands, east and west of the railroad. Due to geographic proximity and use, the adjacent Las Gallinas Valley Sanitary District property is also included in the study area, but no use changes are anticipated for this property. The work program has been reviewed by the Committee to assure that needed work tasks to successfully complete the Study are included and to identify sources of information which should be utilized. STUDY OBTECTIVES Objectives of the study are: • to identify opportunities connected with the St. Vincents and Silveira properties including design approaches • to identify portions of the site needing protection and those with potential for development • to consider implications of and possibilities for non -development alternatives • to develop concensus on land use designation(s), potential yields and other policy for the St Vincents and Silveira properties within upper land use limits established by the General Plan STUDY ORGANIZATION Part 1 of the Study is a general description of the property: its size, ownership, location, City/County/Planning Area delineation and surrounding uses description. Parts 2 and 3 identify Site Constraints and Opportunities to include: Potential hazards •floodplain/rising sea level •unstable slopes •noise •soils types: liquefaction areas, settlement, Bay mud -odor from treatment plant -high power lines Circulation •limited 101 corridor capacity *limited capacity, area interchanges Public services •sewer •water -fire/police •schools Other •State Lands Commission regulations •BCDC regulations •Economic feasibility of retail, of agriculture, of preserving school Site resources *wetlands bayfront lands spanoramic views •hillsides •trees *wildlife using site •agriculture Cultural resources eSt. Vincents buildings •archaeological monument, cemetary Circulation •transitway and proposed McInnis Parkway Design approach flexibility •neo -traditional village -other Convenient location •adjacent to 101 *adjacent to future transitway •close to major jobs centers High regiruil market demand •__.ajor site High visibility site Circulation • Existing underutilized interchange Part 4 of the Study will identify several land use/design alternatives. Part 5 will include concensus land use, intensity and other policy recommendations for the site. PLANNING PROCESS Study Startup, Council appoints Advisory Committee Members Council endorses Preliminary Work Program First Committee Meeting. Select chair, review draft work program, study objectives Committee Tour of Site Refine work program and budget needs Return to Council for any budget requests 2 TSG March 1991 April May April -July April, 1992 Data Collection and Analvsis Tune-May.92 Staff reports on various constraints June -Nov Consultants selection/Cons. report preparation April -June, 92 Advisory Committee to review resources and constraints information June -July Design/Land Use Opportunities Aug 92 -March. 93 Advisory Committee to develop program for Aug -Oct land use/design/ideas competition Land use/design/ideas competition Nov -Jan. Committee to recommend concensus alternative and refine policy details Feb -March. Environmental Assessment March -April. 93 Preparation of initial study, draft EIR for St. Vincents/Silveira General Plan Amendment Final Study Report March-Avril. 93 Study report to include Opportunities/Constraints analysis; alternative development scenarios considered; recommended alternative, policies and standards; allocation of potential between St Vincents and Silveira properties. Committee to review administrative draft study report prior to public release (1-2 meetings) Revise administrative draft; produce public draft Draft environmental impact report on recommended alternatives for GPA April, 1993 Public hearings before Planning Commission and Council. also to Countv Plannine Commission and Board of Sunervisors May. 1993 BACKGROUND Following are general descriptions, updated as of April, 1992, of tasks which have been or are to be completed as part of the Constraints and Opportunities Study. Information sources are noted. Costs indicated are estimated consultant costs. Where no costs are indicated, work is to be completed by staff or, in the case of Silveira wetlands delineation, and review of the Agricultural Analysis, by the property owners. 1. General 1. An aerial ortho photo map of the Study Area with topographic information has been prepared at a 1:400' scale. 3 2. Site Resources and Constraints - Information Needs 2a. Floodplain/rising sea level Staff prepared a report on 100 year flood areas and rising sea level. Sources of information included: BCDC Rising Sea Level study and updated information from other sources; Marin County 1986 Flood Insurance Study to identify extent, depth of 100 year flood. City staff also consulted with County and City public works staff re: City and County floodplain management standards, fill. (Co.: Chapter 23.09 Flood Plain Management; City: Title 18) FEMA staff was also consulted. As a result, a new FEMA floodway study for Miller Creek is underway, and is expected to be complete late 1992. 2b. Soils [liquefaction, settlement, extent of Bay Mud] and slope stability information: ($4,000) Staff has reviewed USGS maps and the General Plan maps and text for generalized hazards information to describe liquefaction hazards, relative hazards on building on Bay mud, and relative hazards pertaining to site hillsides. This information will assist the Committee in determining how much land is "buildable", or at least "less to more hazardous to build upon." There are major discrepancies between areas shown as Bay mud on geotechnical maps and the historic baylands maps. To obtain more specific information on the area covered by Bay mud, as well as obtain engineering recommendations regarding Bay mud areas, further soils analysis is needed. A Soils consultant would review existing data, including borings taken by Cooper and Clark for the Silveira property, and perform limited field work to identify the limits of the historic Bay and Bay mud for the entire site, and provide site specific engineering recommendations for development on Bay mud. Bay mud depth information from adjacent properties would be used to extrapolate Bay mud depths for the site. 2c. Noise: Noise contours for the highway have been provided from City General Plan and St. Vincent's consultant. The General Plan also contains noise standards and generalized transitway noise information. 2d. Odor from treatment plant: staff researched information from LGVSD and other Districts odor buffer area studies. McInnis Park apartment residents, and Honor Farm employees were also contacted regarding existing impacts. Also have used information from property owners. 2e. Wetlands and Bayfront lands Wetlands: St. Vincents has completed a Section 404 wetlands jurisdiction determination. A preliminary Section 404 analysis has been prepared for the Silveira property. The San Rafael General Plan contains generalized wetlands and bayfront lands identification. The General Plan requires that wetlands 4 jurisdiction determinations be made as part of the St. Vincents/Silveira Study. Silveira consultants have stated they will not be monitoring and completing a jurisdiction determination in the near future. Staff has reviewed and provided information on City, State and Federal policies, standards re: wetlands. Staff has also provided background information on wetlands definitions. The Army Corps and EPA staff have met with the Committee. Unfilled Baylands: Staff has requested that St. Vincents complete the Army Corps Section 10 historic waterbodies delineation, which is ongoing. The Silveira delineation should also include Section 10 areas. Staff will identify standards pertaining to these lands. State Lands Commission jurisdiction areas (historic submerged and tidelands): Staff worked with State Lands Commission staff re: identification of State Lands Commission jurisdiction, and standards pertaining to these lands. Wetland enhancement studies Staff will collect information on wetland enhancement strategies from Las Gallinas and other published studies. For example, how easy is it to construct additional ponds as at LGVSD? How close to original character has the tidal pond approached? What is the potential for expanding/enhancing wetland areas? 2f. Panoramic views: Staff has taken photographs of views across site from 101 and from the St. Vincents School hill. Staff has also identified areas hidden, partially hidden from 101, and elevation of land compared to the freeway from topographic maps and field studies. 2g. Hillsides. Staff has used topographic and aerial base maps to identify hillside areas and slopes. Will identify previously planned hillside "potential community separator" area: if recommended to be retained by the committee, this area could be refined by identifying a contour line above which development would not occur. 2h. Habitat Study ($10,000) Need to provide site environmental resource identification and assessment. (Assessment of site vegetation and wildlife using site). Consultant will use aerial photographs, site visits, and available wetlands delineation information to identify and assess types and extent of site vegetation. Health of vegetation would be noted. Riparian vegetation and areas would be identified. Evaluation of local and regional significance 5 would be included. The relationship of site habitat areas to adjoining habitat areas (Las Gallinas, McInnis and China Camp) should also be evaluated. Consultant will also assess wildlife habitat from field surveys and from utilizing a) habitat information from K. Wilson (Volunteer for USFWS) who has conducted bird surveys (list in North San Rafael Policy Plan correspondence); b) Las Gallinas Valley Sanitary District pond surveys; c) San Rafael General Plan "Threatened and Endangered Species Maps"; d) St. Vincents field surveys including September 30, 1991 Leitner Assessment and 1991 Bird Survey by Zentner and Zentner; e) site biological resource surveys conducted by MMWD for the water supply EIR f) February, 1992 US Fish and Wildlife Service Diked Baylands Study Bird Use Data for the Las Gallinas Creek Area and any other available information. 2i. Miller Creek : Staff has provided information on applicable County Streamside Conservation Zone and San Rafael General Plan policies re: setbacks from riparian areas. Staff has also, in conjunction with State Fish and Game, identified regulations pertaining to creek realignments. Background information on Miller Creek's historic course and existing course has been provided. Staff will interview Silveira engineers to secure information on the impact of lack of maintenance on the lower reaches of Miller Creek. 2j. Agricultural potential . Initially, the work program called for hiring an agricultural consultant to provide an agricultural feasibility concept analysis which reviews site soil capability, water table, water supplies and costs, site size, shape, taxes, surrounding uses, and identifies possible different kinds of agricultural uses for the site or portions of the site. The uses would be ranked, by order of magnitude, as to which would provide higher revenue returns. The study would also evaluate compatibility of various agricultural uses with other urban uses in terms of noise, odor, agricultural chemical use and minimum size for feasibility of various uses. Sources of information would include the Important Farmland Maps of the Land Resources Protection Division, State Department of Conservation for current use delineation; and the USDA soils survey. However, Marin Conservation League has sponsored preparation of an "Agricultural Feasibility Analysis for St. Vincents/Silveira", which is nearly complete.. The Committee recommended that St. Vincents and Silveira review the report prior to the next meeting and report back to the Committee. Additionally, the City Attorney and Council Counsel will be asked to provide general information on leagal feasibility of retaining agriculture on all or portions of the site. R 2k. St. Vincents buildings. Staff reviewed architectural and cultural importance of the St. Vincents buildings and cemetary from City, County and State files. St. Vincents Preliminary Building Condition Survey . Initially, the work program called for hiring a civil engineer to obtain an overall sense of how costly/ difficult it would be to repair or reuse, and whether additional testing is recommended/needed to further evaluate structural integrity. This would be a very general "first cut" review. St. Vincents had two architects do a "pro bono" walk through the main buildings in 1987. This visual review reported on the observable conditions and integrity of the significant buildings and will be provided to the committee. Rather than conduct an updated report, we would use this prior report as the limited initial report, noting that reuse feasibility is a concern and that additional work would need to be conducted at the time a specific use is proposed for the buildings. It is unlikely that a new preliminary condition survey would provide definitive information in any case as to whether potential future uses would be feasible. 21. Archaeological. ($3,000) Hire an archaeologist to conduct a literature field check, a full archaeological field survey of all historic upland, flatter portions of the site (approximately 500 acres) to determine type and extent of archaeological resources, and recommendations for preservation, types of allowable development and mitigations. 2m. Circulation: 101 corridor capacity, area interchanges, transitway ($7,000 this year; $10,500 next year) City staff would compile existing San Rafael General Plan, 101 Corridor Study and County General Plan information on circulation. City staff will also provide information on proposed bicycle and hiking paths. a. A traffic consultant would be asked to provide answers to the following constraints questions: Impacts of McInnis Parkway on site development 1. At what amount of site development does McInnis Parkway become necessary? (In other words, is there a threshold level of development at which No. Redwood, existing Silveira Parkway, Marinwood and Lucas Valley/101 interchanges would operate at adopted service levels in the future without an eastside arterial, i.e., McInnis Parkway?) 7 WSA had estimated approximately $6,000 for this portion of the study. This information continues to be important to the initial constraints analysis and is recommended to be retained. 2. Provide rough estimated costs of railroad overcrossing(s); McInnis roadway WSA had estimatesd $880 for this portion of the study; important to determining infrastructure costs for development. Transit 3. What is the feasibility of moving the railroad/ transitway nearer the freeway where it could better serve Marinwood? Or at least closer to St. Vincents existing buildings? (The consultant would be asked to identify whether these are potential rail/light rail/bus options which shouldn't be ruled out as infeasible during subsequent transit system design) WSA stated this portion of the study would cost nearly $3,900; this is not currently proposed for funding. As an alternative, the Committee has recommended that they meet with John Eels to obtain an overall sense of feasibility and recognize transit location alternatives will be considered as part of any future transitway studies if/when funding for the transitway is secured. Eels has stated that this issue is a corridor - wide one: transitway location could be shifted in other locations besides Northgate and definitive engineering studies would cost several hundred thousand dollars. We expect the Plan may make some recommendations on transitway location pending feasibility. 4. What would transit parking needs/demands be for St. Vincents/Silveira? Would there be one or more transit stops based on separation criteria? The Committee has recommended review of these issues with John Eels. b. Traffic Impacts of Proposed Land Use Alternatives 1. How do the various proposed land use alternatives affect traffic service levels? (The traffic consultant would analyze how approximately three land use alternatives selected by the committee would impact area intersections) This portion of study is recommended to be deleted from this year's budget. This information would be needed at the environmental review stage and would need to be budgeted next year. WSA had estimated apvroximately $10,500 for this vortion of the study E:3 2n. Sewer capacity availability. Staff has reviewed and summarized City and County General Plan information, and Las Gallinas Valley Sanitary District draft master plan documents. Staff has also worked with LGVSD staff to answer: How much capacity remains for new development? Costs and timing for 15% expansion of existing facilities. How much additional development could be provided until this minor expansion capacity is reached? What would it take to provide any additional capacity and how much would this cost? What assumptions are used? How much additional land is needed for additional ponds? Could expansion occur without additional ponds but with extended pipelines; i.e., are there other, less expansive ways to expand the LGVSD plant with less additional land requirements? Were existing treatment facilities designed to include capacity for Silveira? What are the District boundaries? Note: St. Vincents has an agreement with LGVSD for provision of at least 150,000 gpd capacity. Silveira is not within the District. 2o. Water. Staff will review City and County General Plan information, and Marin Municipal Water District plans for water supply expansion and costs, including proposed water tank location information. District boundaries will be identified. Staff would request MMWD staff assistance in summarizing the information. 2p. Firelpolice. Staff has interviewed City fire and police department staff regarding impacts of St. Vincents/Silveira development on services. 2q. Schools. Staff has interviewed School officials regarding numbers of units needed to support an area school; and impacts of other development alternatives on Dixie School District. District boundaries have been identified 2r. Parks. Staff has provided General Plan standards for park development to assure that parks of adequate size would be planned. 2s. Housing impacts: Staff has provided regional housing needs numbers and amount currently shown on St. Vincents and Silveira. At time of environmental review, State Housing and Community Development Department staff would review proposed alternatives for impacts on housing needs. 2t Staff has identified BCDC jurisdiction and any regulations pertaining thereto. 2u Shopping Center Economic Analysis: What is the "critical mass" needed to support a neighborhood shopping center; a regional center? Staff would use economic analyses from the General Plan and East San Rafael Plan to answer these questions. The Hahn center EIR would provide recent information on demand/need for additional regional shopping centers. D 2v. Job versus housing development in mixed use scenarios: Staff would provide information on San Rafael Planning Area and Marin County jobs/housing information, as well as information on traffic impacts of jobs development as opposed to residential uses. 2w. Adjacent properties information: Surrounding areas information has been prepared including information on future plans for these areas and Hamilton soils contamination areas. 2x. Sphere of Influence/Planning Area Boundary Issues: A portion of the St. Vincents property is outside both the San Rafael and Novato Spheres of Influence. A recommendation will be made regarding whether all of St. Vincents should be within the San Rafael SOI. 2Y. Other Miscellaneous Costs: printing, mailing, etc. would continue to be absorbed by the City's General fund. 3. Opportunities --Information Needs Land Use /Ideas/Design Competition. ($35,000) To get beyond abstract discussions of an amount of development, a land use/ideas/design competition for the site is proposed. In this approach, the St. Vincent's Silveira Advisory Committee would review staff and consultant information and work with a competition advisor to establish a program for competitors. The program would include maps, goals or policies the committee is trying to achieve, and any other agreed upon parameters. The Competition Advisor would put together the program package, send out invitations, select a jury, etc. Once competitors submit their ideas, there would be a public exhibit. The jury would award a prize to the best submittal. However, the Committee anticipates that they may pick and choose among several of the top submittals in making recommendations for the site. The Committee agreed this approach was superior to the original use and design alternatives approach in that it would elicit a much wider range of ideas for the site and greater public involvement. In regard to opportunities and goals, the Committee recognizes that CYO/St. Vincent's is a non-profit charitable organization and that the St. Vincent's land is an endowment which St. Vincent's/CYO trustees intend will support CYO/St. Vincent's work and programs. Additionally, CYO/St. Vincent's existing and future work and programs are expected to continue on site. Economic Feasibility Analysis Once certain land use/design alternatives are proposed, generalized market demand and other economic information as described in the Funding Agreement (Exhibit B) would be prepared, to be paid for by St. Vincents. EXHIBIT B ECONOMIC FEASIBILITY ANALYSIS OUTLINE 1. CONFIRMATION OF MARKET DEMAND • Site Evaluation from a marketing perspective • Socio-economic analysis of population, demographics and housing in the market area • Review of comparable and competitive projects • Future supply of competitive projects • Comparison of market supply and demand now and in the future • Recommended adjustments or modifications to the development program including mix of residential units, scale and type of commercial development, supportable recreational uses, and the appropriateness of institutional uses • Estimate absorption and pricing for the land uses and relationship with land values and land endowment values 2. PRELIMINARY FINANCIAL FEASIBILITY ANALYSIS AND RESIDUAL LAND VALUE • Development of a financial model incorporating revenues and expenses estimated above • Allocation of project -wide infrastructure costs and fees to individual development parcels • Assessment of impact of fees and inordinate infrastructure costs on project viability • Suggested refinements or modifications to the development program if needed • Estimated residual land values and endowment values based on land lease and/or bulk land sales and assumptions of development approvals. ESTIMATED COSTS Market Assessment $15,000-20,000 Financial Feasibility and Valuation Analysis $10,000-15,000 Totals $25,000-35,000