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facts, that large malls such as Great Northern draw a regional area. He indicated that what has been shown in Mr. Majewski's Parking Analysis and Recommendations is that with the parking ratios that they are asking for, the variances achieved are very realistic. Mr. Rinker indicated that it is possible to make a larger use of preexisting space at certain times of the year when parking is a sensitive issue, studies have shown that this has been stretched out a bit more. Ultimately, a decision has to be made as to the goals to achieve when looking at using retail space and utilizing it in a way that for a vast majority of the time of the year, the parking area is a wide open space of land. Mr. Rinker reviewed the actual expansion area in the lower southwest area where a landbanked-designated area is located. He indicated that, in effect, there would be an additional 87 parking spaces beyond the current 5,406. Mr. Rinker indicated that when working the math, you would subtract a certain number of spaces with the landbanked area dedicated as a safety valve in the event that it is necessary to add that parking. However, the percentage. is below what the City of North Olmsted's code requires. Mr: Rinker indicated that the 4.5 ratio for parking is realistic. He indicated that this is a win-win situation that has been projected with the regional market going the way it is, this kind of expansion should bring a good name anchor facility. Mr. Rinker indicated that it would help secure its place down the road and be good for business. Mr. Barker came forward to review the Projected Economic Impact Chart. He indicated that there would be an approximate addition. of 262,000 square feet. Mr. Barker indicated .that there had been a compilation of statistics fiom the International Council of Shopping Centers as well as the National Occupational Wage Estimates. Based on all shopping centers in the state of Ohio and employment in those centers, approximately one job is created for every 489 square feet of retail space. Applying that factor to the 262,000 square foot of net square footage being proposed, it would result in 536 new jobs based on the latest wage estimates available and adjusting for a 30 hour work week, and equate for an average annual salary of $14,700 per year. Times that by the 536 jobs yielding a projected annual payroll $7.9 million dollars. Based on the local annual payroll tax of 2%, that would be an annual economic impact of $158,000 to the City. Mr. Barker indicated that the estimated total costs of the improvements are somewhere between twenty to twenty-five million dollars with approximately $515,000 a year of incremental real estate taxes. Mr. Rinker reviewed parking ratios for other mall locations. He indicated that what he would like to demonstrate with the chart is if you look around the country there are a number of locations where redevelopment occur and you would be looking at the GLA (Gross Leaseable Area). He indicated that this correlates the nature of the use, the people who are making trips to the retail stores, whether it is a furniture store or movie house. Mr. Rinker indicated that there are different profiles in the nature of the use. The overall GLA is the actual functional space within the mall as it is correlated with the number of trips and parking spaces that are used for it. In each one of these instances, with pre-existing malls, redevelopment, and the new ratio, these numbers have proven to be very workable. He indicated that this is a very significant commitment to Great Northern Mall and the City of North Olmsted. The applicants view the proposal as a way to maximize the space within the existing borders, recognizing that there are always concerns with traffic, and the overall availability of parking spaces, but •1 8.