Milpitas, California
The City of Milpitas was seeking to redevelop a largely industrial area in central Milpitas into a vibrant mixed use, transit-oriented development. The City of Milpitas’ Transit Area Specific Plan (TASP) created a policy and regulatory framework for this redevelopment effort. The TASP, promulgated in response to the planned BART extension to San Jose and market forces toward more intensive land uses in the area, would create one of the largest transit-oriented neighborhoods in the Bay Area. The City of Milpitas retained EPS to complete a Financing Plan for its TASP. The Financing Plan addressed several issues including clarifying required infrastructure costs, examining the fiscal and financial implications of the underlying redevelopment area, allocating infrastructure costs proportionally to all benefiting properties, and creating financing mechanisms.