The staff report in the Referendum Ordinance includes a snapshot of the project background and fiscal impact.
The "white paper" report gives an in-depth summary of the funding plan, the fiscal impact, and underlying assumptions of the school cost and commercial development. The range of tax impacts with and without the land sale/lease reflecting future potential tax yields is expected to be between 4 cents to 15.5 cents on the Real Estate Tax Rate. The impact on the Real Estate Tax Rate is heavily dependent upon the successful marketing and sale of the ten acres of existing campus land and the potential tax yields from commercial development on the school campus site.
The feasibility study by Alvarez & Marsal concluded that the 10 acre commercial site supports approximately $43-45 million in value, based on a few assumptions. The assumptions (page 9) include the developer providing $10 million in up-front payment and $3 million in proffers.
The City's Planning division manages the Small Area Plan, which provides a framework for economic development on the high school campus. Some work toward this goal has already been done through an Urban Land Institute Technical Assistance Panel (ULI TAP) and joint City government and public school committees.