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MainPlace Mall <br />Net Fiscal Impact and Economic Analysis <br />December 2018 <br />Page 5 of 33 <br />Centennial Real Estate wants to transform the existing MainPlace Mall into a "blended -use" <br />village. This study is being commissioned as part of the entitlement effort for development <br />rights for approximately 2 million square feet of hotel, residential and office space, in addition to <br />attracting a 100,000 square foot entertainment anchor that is education oriented and will bring <br />over 1 million children each year to participate in a full day of fun and educational activity, <br />encouraging parents to spend time at the mall after dropping them off. <br />Fiscal Benefits <br />The redevelopment of MainPlace will bring significant fiscal benefits to the City of Santa Ana. <br />Buildout of Phase 1 alone is estimated to generate over $6.6 million in new General Fund <br />revenues annually, with a net fiscal Impact of $5.0 million. Measure X will result in an additional <br />$2.1 million in net revenues thru 2028, and $1.4 million from 2029 through 2038, <br />At full buildout, the City could expect to see $9.3 million In new annual revenue, with a net fiscal <br />impact of $6.5 million, after allowance for municipal service costs. Measure X will result in an <br />additional $2.4 million in net annual revenues thru 2028 and $1.6 million from 2029 through <br />2038, as shown below. <br />Exhibit 1.1.1 r Fiscal Benefits from Annual Operations <br />Phase 1 <br />Full 8uildout� <br />Fiscal Revenues <br />Annual Gross Fiscal Revenues <br />$6,607,900 <br />$9,295,500 <br />Fiscal Expenditures <br />Annual Gross Expenditures <br />$1,573,786 <br />$2,781,376 <br />NET FISCAL IMPACT <br />Annual Net Fiscal Total <br />With Measure X 2019-2028 <br />With Measure X 2029-2038 <br />$5,034,100 <br />$7,134,000 <br />$6,434,000 <br />$6,514,100 <br />$8,914,000 <br />$8,114,000 <br />koJA� The analyses, projections, assumptions, and any examples presented herein are for <br />I , _Illustrative purposes and are note guarantee of actual and/or future results, -Taxanalyses <br />are projections only. Actual results may differ from those expressed In this analysis. <br />75D-540 <br />