Keyser Marston was retained by the Developer of the Old Mammoth Place project in the Town of Mammoth Lake to undertake a financial analysis of the project, as required by the Community Benefits/Incentive Zoning (CBIZ) policy.

The CBIZ policy was adopted by the Town of Mammoth Lakes on August 5, 2009. The intent of the policy is to provide regulations for the granting of discretionary development incentives to property developers to encourage the provision of certain community benefits or amenities

As specified in the CBIZ policy, the owner of a property requesting density upgrades must submit a financial analysis to the Town that estimates the value of the community benefits generated by the proposed project relative to the potential economic benefits accruing to the owner as a result of the density upgrades.

KMA’s analysis of the development economics of Old Mammoth Place was undertaken to meet this requirement.  The mixed-use project is comprised of a 488-room hotel, a 9,500-sf conference center, a 4,500- sf spa and wellness center, 40,000 square feet of retail and restaurant uses, workforce housing, a pocket park, multiple hardscaped public plazas, and underground parking serving all the uses on-site.   Community benefits included outdoor plazas and public open spaces, capital improvements, retail/restaurant space, meeting/conference space, and underground parking available to the public.  

KMA determined that the financial value of the community benefits generated by the proposed project exceeded the potential increased land value by a multiple of approximately 10.3.   Old Mammoth Place project was approved in March 2010.