As part of the ConnectMenlo
process, BAE Urban Economics has prepared a fiscal impact analysis
(FIA) report. The FIA projects potential changes in revenue and expenditures, and net fiscal impacts to the City and other special districts as a result of potential development that could occur from the implementation of the proposed General Plan and M-2 Area zoning update
. In summary, the proposed General Plan and M-2 Area zoning update would have a net positive fiscal impact to the City’s General Fund. At buildout (2040), the proposed project could generate an additional $9 million annually in revenues to the General Fund. The FIA also identifies a net positive fiscal impact to the Menlo Park Fire Protection District. However, the FIA shows potential negative fiscal implications for two (Menlo Park City and Las Lomitas School District) of the four elementary school districts and the high school district (Sequoia Union High School District) serving the City.
On Monday, Sept. 12, the Planning Commission will be discussing the FIA and there will be an opportunity for public comment on the document. The FIA is an informational tool and no action on the FIA or the General Plan and M-2 Area zoning update will take place at the meeting. The FIA document
and the associated Planning Commission staff report
are now available for review.