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,Business Impacts and Framework for Thinking <br /> Transition About Impacts <br /> Presentation to the <br /> West Broadway Advisory Committee <br /> by ECONorthwest <br /> n.~rr5t ts, Zoos <br /> i <br /> I <br /> Ways to Categorize Impacts "Business Relocation" means... <br /> . By Location • By Causality . By Location • By Causality <br /> .Redevelopment azea • Direct • Redevelopment area • Direct <br /> .Perimeter • Indirect .Downtown • Indirect <br /> .Elsewhere • BY Party. Affected .Elsewhere • By Party Affected <br /> .Business B T e • Business <br /> . By Type .Resident ~ Y Yp .Resident <br /> . Economic . Tax a er • Economic . Tax a er ' <br /> .Environmental ~ Timingy .Environmental ~ Timingy i <br /> . Social .pre-construction • Social .pre-construction <br /> .Other .Construction • Other .Construction <br /> .Each can be + or - .Operation .Operation ~ <br /> West Broadway Advisory Committee ECONorthwest August 2007 3 West Broadway Advisory Comminee ECONOrthwest August 2007 4 ~ <br /> Business May Not Be Property Owner Property Owner Compensation <br /> .Two Distinct Groups in Project Area . A market transaction among willing buyers ~ <br /> .Property owners and sellers; not condemnation (eminent <br /> . Tenants (businesses and other organizations) domain) <br /> .How these two groups get compensation for • City negotiated purchase "options" on <br /> the impacts of the project is different buildings in redevelopment area i <br /> .Option: the right to purchase the property <br /> for a specific price at a future date <br /> .Thus, fair compensation for property owners <br /> already agreed on <br /> West Broadway Advisory Committee ECONorthwest August 2007 5 West Broadway Advisory Committee ECONOrthwest August 20076 <br /> I <br /> 1 I <br /> <br /> . _ <br /> <br />