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e' v CITY OF SAN LEANDRO STAFF REPORT DATE: December 31, 1996 TO: Wandzia Grycz, Interim City Manager FROM: June Catalano, Director of Development BY: Debbie Potter, Redevelopment Administrator SUBJECT: Walmart Economic Impact Analysis SUMMARY AND RECOMMENDATION APPROVED AND FORWARDED TO CITY COUNCIL On September 9, 1996, City Council directed staff to prepare an economic impact analysis to determine the impact on existing businesses of a possible Walmart store opening in the City. Staff retained Kosmont and Associates, Inc. to prepare the analysis. Kosmont has submitted the attached report and the findings are summarized below. Staff and the consultant will present the report's fmdings to the City Council at its January 6, 1997 Work Session. Staff recommends that the City Council accept the Economic Impact Analysis Report. BACKGROUND Since the relocation of the Costco store, Pacific Union Ventures (PUV), the owners of the West Gate shopping center, and Costco have been working to reuse the former Costco site at the West Gate center. While there have been no formal projects submitted to the City for the former Costco site, the possibility of a Walmart opening at that location has been discussed by both PUV and Costco. In anticipation of a possible project submittal by Walmart, the City Council requested that an economic impact analysis be done so the City could appropriately evaluate the merits of such a project. The City Council was specifically interested in knowing about the following: • The impact of a Walmart on existing businesses, especially in the downtown area and in key shopping centers; • The impact on San Leandro if a Walmart opened in another city (Hayward or Oakland); • The impact on the West Gate center if Walmart did not locate there; • The highest and best use of the former Costco site; and 9 The impact on employment. 5