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Non - Residential Fiscal Impact Assessment Both the Conventional and Neo- Traditional Development options propose non - residential development. While the Conventional Design only includes a 33 acre (359,370 square feet of floor area) tract zoned for commercial use, the Neo - Traditional Design proposes the development of a mixed -use core area containing multi -story office and retail uses totaling 25 acres (650,000 square feet of floor area). In addition, the Neo - Traditional Design includes 15 acres (350,000 square feet of floor area) of office space. The fiscal impact of the approximately 29 acres of civic. space has not been calculated. The distinct difference in these two types of non - residential areas and the difference in size makes comparison between the two designs difficult. Projection of the County government fiscal impacts was conducted using the Bureau of Economic and Business Research template (The results and explanation of the template inputs is attached). Analysis of the results indicate that all of the non - residential development in the Neo - Traditional and Conventional Designs produce a positive balance. The calculations from the Neo - Traditional Design required further manipulation due to the format of the template, which calculates the fiscal impact for one retail building. The results were extrapolated for application to the larger area and the comparison of retail impacts with the Conventional Design. The total square footage of the retail area in the Conventional Design was used in the analysis rather than an example building, because this area will most likely be developed as a community shopping center containing a large chain anchor store and numerous smaller attached retail uses. Because the developments are proposed rather than existing, using the template necessitated making several assumptions. To calculate the real property (market) value of the proposed development, the value of similar uses per square foot in the area were used. The market values of the Neo - Traditional retail and office uses are based on comparable Chapel Hill retail and office buildings. The assessed value of Hillsborough Commons in Hillsborough provided the value per square foot of the likely community retail center in the area zoned commercial in the Conventional Design. The template also requires an estimated sales per square foot. This value was obtained for the retail uses in both designs from the Urban Land Institute's Dollars and Cents of Shopping Centers which provides such data for shopping centers of different types and sizes based on surveys of actual shopping centers. Both retail designs were given the same sales per square foot value. The fiscal impact of office uses assumes a sales per square foot of zero. Other values used in the analysis include tax rates, the inflation