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CITY OF SANTA MONICA
DATE: h4arch 18, 1971
TO: The Honorable City Council
FRO1vI: Perry Scott, City Manager
SliBJECT: Airport Study
71-C-23
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RE P+ ;3~,~D I'O THE
CITY CLI'sKK'S OFFICE
FOR FILING.
Pursuant to the request of the City Council a quotati.or: has been obtained
from Economics Research Associates £or addi.tional ecanamic studies of
the city owned airpori property. The cost for the studies requesied by
the City Council are as follows:
A. $5, 200. 00 for a single s~udy limited"potential market
support £or uses of peripheral airport ].and paxcels
assuming continued cperation of the aixport as a gen-
. oral aviation facility.
B. $6, 900, 00 fcr a single study enconmpassirg a highest
and best land use mix for the airport property assum-
ing the discontinuance of the airport operation.
C. $9, 450. 00 far bcth studies.
(See attached prcposal of E, P.., A> dated _`/Iarch 1&, 19711
It should be noted that in the origisfal E. R~ A> study o£ the airport a x•e~icnal.
shoppir•g center evas the only potential.l.y high value use not included i,n t'reir
study, (page II-8)
Total. annual revenues projected for the uses studied page
II-15} are tied directly to the E, R. A, assumnticns concern-
ing: •
1, The land use mix of high rise office, hoiel, residential,
industrial and supporting commercia.l., and
2, The rate of land absorption for the uses proposed by
E~ R, A,
Projected annual revenues can be increased or decreased rather materially
by changing the land use mix and the rate of absorption for the high yield
uses. Consequently, the highest .and best use study proposal is clearly
directed to market potential for a regional shopping center use.
Due to the simple and inescapable fact that all the airport property physicall
suitable for this class of use wi1_1 not be available (because of existing leases
until 1979-81, the proposed study of regional shopping center potential:
1. "Is practically valueless to the city; and
2. Of principal benefit to-only the McDonnell-Douglas
Corporation.
anager
Attachment
cc: Airport Director
Attorney
City Clerk
Director of Finance