Sentence:  Before closing or phasing out a school, the schools chancellor must prepare a detailed <WSD>impact statement</WSD> that describes, among other things, changes in how the building would be used, the effects on the surrounding community and the ability of other schools in the area to absorb new students. 
Meaning of the word marked with <WSD> tags:  An analysis or study which describes the expected effects of a policy, project, or action being contemplated by a business or government organization.