Thousand Oaks traffic initiative could be costly

A proposed Thousand Oaks traffic initiative aimed at thwarting plans for a second Home Depot and other development could cost the city millions of dollars annually in lost revenue if approved by voters in June, according to an independent analyst’s report.

The city could lose at least $3 million a year, while Ventura County and the school, fire and parks districts could forfeit $6 million more in annual taxes, the 97-page report by Sacramento-based Economic & Planning Systems found. Tens of millions of dollars more – perhaps hundreds of millions – could be lost in unrealized business opportunities, according to the report, which was to be presented to the City Council at its meeting Tuesday night.

“We are concerned about this initiative’s potential impact on our infrastructure, land use, service levels and the overall economy,” City Manager Scott Mitnick said before the meeting.

In addition, community projects worth more than $30 million may one day go unfunded because of decreased revenue, a city staff report on the traffic initiative said. Earlier funding from the city has included $5.6 million for expansion of the city’s teen center, $5 million in seed money for the long-anticipated Discovery Center and $5 million for Lang Ranch Community Park.

If approved by voters, the traffic initiative would subject to a public vote a Home Depot store proposed on the Hampshire Road site of a closed Kmart and any retail development of at least 75,000 square feet.

Specifically, if a proposed development were projected to reduce traffic below a “C” level of service, it would be placed before voters. A “D” level is when a roadway reaches 80% to 90% of its capacity during peak periods. Roughly a dozen of the city’s 174 intersections with traffic signals are rated “D” or worse.

Opponents of the initiative say it is an anti-competition scheme drummed up by the Chatsworth-based Do It Center hardware chain, which wants to ward off a challenge by a national chain store. Do It Center operates a store on Thousand Oaks Boulevard, a few miles from the proposed Home Depot site.

Jesse A. Ruf, president and chief executive of Do It Center, has waged successful campaigns against national competitors in Agoura Hills and Westlake Village. His spokesman for the Thousand Oaks measure is Harvey Englander, a Los Angeles-based political consultant.

“The entire premise of this report is extraordinarily outrageous,” Englander said. “What this is, is a campaign brochure paid for by taxpayer dollars.”

Englander said he would not waste campaign dollars or volunteers’ time disputing the findings.

Home Depot has hired its own consultant, who said the study’s findings state the obvious. “You can’t trash a study just because you don’t like the results,” said Rob Stutzman, hired by Home Depot to oppose the traffic initiative.

After reviewing the analysis, the City Council was set to vote late Tuesday whether to adopt the initiative as an ordinance or to propose placing it on the June 3 state ballot.

greg.griggs@latimes.com