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Project Scope and Deliverables The scope of the Urban Center's economic and fiscal impact analysis of the multi-use development in Mayfield Viltage is to determine the costs anct benefits associated with various altemative development scenarios. The analysis is intended to empower the officials of Mayfield Village in their strategic decision making in guiding the development of the site. The project would occur in two defined work activities: 1) develop estimates of market build out values and impact factors and the 2) fiscal and economic impact of the development. Estimates of maricet buiid out values and impact factors Existing zoning of the site is "layercake", and inctudes office and light industrial. Proposed uses may include cluster and single family detached residential, convenience retail, and light industrial. Mayfield Village and or the developer(s) would supply maps and acreage of build out scenarios, data on occupant pattems in similar residential projects (if.available), and estimates of municipaf costs to extend sewer and other infrastructure to the site. For a given development scheme, The Urban Center would generate estimates and timing of project build out for all land uses under consideration, land values and employment, vehicular traffic, and total residents and school age children. Satisfactory developer return on investment is also a consideration. Fiscal and economic impact analysis The Urban Center would prepare a computer model and make projections of the economic base and discounted cash flow of fiscal conditions under the baseline conditions (with existing zoning) and four possible other development configurations, for a total of five scenarios. (One of these could include a fand swap corrceming the golf course.) The anatysis would be provided-for Mayfield Village and the local school district. The projections would also address developer land sales and gr'oss profit. Reverrue categories include but are not limited to industrial, commercial and residential property tax and income tax. Expenditure categories for Mayfield Village would inciude the capital and operating costs of providing core municipal services, including police, fire, water and sewer lines, general govemment, parks and streets. Expenditure categories for the school district will address per-student costs and capacity of schools which could be impacted by the project. Costs and revenues would be discounted over a 30 year period, using the Village's discount rate. The Urban Center Page 4