SCOPE OF SERVICES

• Real Estate Market Forecasts and Development Feasibility Studies
• Financial Feasibility and Income Projection Analyses
• Economic Development Strategic Plans
• General Plan Economic Development Elements
• Redevelopment and Revitalization Strategies
• Fiscal Impact Assessments
• Market Impact Studies and Cost/Benefit Analyses
• Deal Structuring and Negotiation of Public/Private Development Agreements
• Park, Recreation and Open Space Master Planning
• Environmental Economics and Habitat Conservation Planning
• Sociocultural and Socioeconomic Impact Analyses

Real Estate Market Forecasts and Development Feasibility Studies. TNDG's market studies range from site-specific feasibility evaluations for private developers to regional-scale land use demand forecasts for public planning processes. (Link to representative projects.) Whatever the context, each study is carefully designed to address the following fundamental issues:

• Timing and depth of market demand
• Absorption rates for each land use under consideration.
  Existing and planned competitive development.
• Unique locational attributes of the study site.
  Market shares achievable by the specific project or community under study.
• Potential lease rates, sale prices and associated land values.
• Market area dynamics influencing long-term development opportunities.
  

Financial Feasibility and Income Projection Analyses. Once the basic market demand for a development project is established, the next level of economic analysis is to determine the financial feasibility of the project. Based on the development parameters determined by the market study (absorption rates, land values, revenue potentials, etc.), TNDG prepares detailed cash flow projections to evaluate rates of return and ultimate project value to the developer. TNDG's financial analyses are developed using customized computer models to enable pro forma testing of various land use scenarios, and of different investment, financing and joint venture arrangements. (Link to representative projects.)

Economic Development Strategic Plans. The severe economic challenges which faced southern California during the early 1990's required local and regional governments to fundamentally re-think their approach to economic development. Over the past several years, TNDG has been actively involved in developing strategic plans to guide public agencies in proactively pursuing economic growth. (Link to representative projects.) TNDG's strategic plans are action oriented and involve the following components:

• Comprehensive inventory of the jurisdiction's industrial base.
• Identification of key growth opportunities (including industry 'cluster' analyses).
• Assessment of existing growth constraints including infrastructure, competitive jurisdictions, and business 'unfriendly' permitting and regulatory practices.
• Recommendation of proactive measures to mitigate the identified constraints.
• Preparation of a detailed Action Plan to guide the jurisdiction in effectively pursuing the identified opportunities.
• Identification of funding sources available to implement the recommended actions.
  

General Plan Economic Development Elements. TNDG has served as the project economist for General Plan updates for communities throughout southern California. (Link to representative projects.) Working as part of multi-disciplinary planning teams, TNDG's role is to:

• Project long-term land use demand at city-wide and sub-area levels.
• Determine the resulting fiscal impact to the city from the indicated land use mix.
• Identify regulatory or other factors which may hinder the city's development potentials.
• Recommend policies to optimize the community's long-term economic vitality.

Redevelopment and Revitalization Strategies. TNDG has completed a number of assignments related to redevelopment and/or revitalization of commercial corridors which have lost their market viability due to physical deterioration, changing trade area demographics, and increased competition from contemporary commercial development. TNDG's approach is to identify the unique market niches in which these corridors can effectively compete with modern centers; quantify potential demand for new development within these market niches; and identify the specific public sector actions (including infrastructure investment, developer incentive packages, etc.) necessary to bring about the identified potentials. (Link to representative projects.)

Fiscal Impact Assessments. Whereas a financial feasibility study evaluates the potential returns of a real estate project from the perspective of the developer, a fiscal impact analysis considers the financial impacts that the project will have on the municipal jurisdiction where it is located. TNDG's fiscal impact reports provide annualized projections of all major municipal revenues which will be generated by a proposed project (e.g., sales taxes, property taxes, franchise fees, etc.) as well as the costs of providing public services to the development (including police protection, fire protection, infrastructure, and non-city services such as schools).

In addition to completing fiscal impact assessments for individual projects, TNDG also develops customized fiscal impact analysis software for ongoing use by the firm's municipal clients. These software models provide the city or county with an in-house tool to evaluate the impacts of project proposals using a consistent, defensible methodology. (Link to representative projects.)

Market Impact Studies and Cost/Benefit Analyses. TNDG has completed a number of studies which determined the extent to which a proposed retail project would have a competitive impact on the existing retail stores within its trade area. These analyses utilize TNDG's proprietary retail demand forecasting model to project the dollar volume of additional retail sales that could be accommodated within a market area without diverting sales from existing stores. In cases where negative impacts (i.e., sales diversions) are projected, the model allows for quantification of the dollar losses to existing stores.

TNDG has also completed a variety of cost/benefit assessments for proposed development and infrastructure projects. These studies quantify a range of benefits including employment and income creation, and often involve the use of 'multiplier' ratios to determine the indirect or spin-off benefits of the proposed project. (Link to representative projects.)

Deal Structuring and Negotiation of Public/Private Development Agreements. TNDG has represented both private developers and public agencies in the negotiation of public/private joint development agreements. These negotiations involve determination of the basic financial parameters of the project; evaluation of the financial assistance needs of the developer; and identification of the legal, fiscal and political constraints on the agency's ability to participate financially in joint development ventures. (Link to representative projects.)

Park, Recreation and Open Space Master Planning. TNDG has completed the market and financial components of numerous park, recreation and open space master plans. (Link to representative projects.) TNDG's roles in these processes include:

• Quantifying demand for recreational facilities.
• Projecting development and O&M costs associated with facility improvements.
• Projecting program revenue which could be generated by fee-based attractions.
• Identifying potential funding sources for capital improvements.
  Developing pro forma cash flow projections for implementation of the plan.
• Recommending phased development programs based on financial parameters.
  

Environmental Economics and Habitat Conservation Planning. TNDG has participated in a wide range of contracts related to environmental economics. (Link to representative projects.) The firm's specific services in this area include:

• Determination of the economic impacts of proposed environmental policies.
• Valuation of conservation easements and development right transfers.
• Determination of development impact fees for habitat conservation plans.
• Negotiation and implementation of environmental mitigation agreements.
• Financial analyses related to solid waste management.
  

Sociocultural and Socioeconomic Impact Analyses.Economic development activities can have both positive and negative impacts to affected communities. TNDG carefully evaluates prospective impacts on local employment, business, housing, social services, and service delivery to residents of communities undergoing significant changes as a result of commercial, industrial, and other major projects. TNDG utilizes a combination of intensive community focus groups, community-wide surveys, critical analysis of employment and demographic data to highlight potential impacts to communities and their residents.(Link to representative projects.)