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ER No. 2017-140, AA No. 2019-02, CUP No. 2019-12 & VA No. 2019-01 <br />June 10, 2019 <br />Page 8 <br />Economic Develoument <br />The project will generate property tax revenue, sales tax revenue, temporary jobs, permanent jobs <br />and services for the community. Property tax revenue will increase as the lot will be redeveloped <br />with a new convenience store and service station and the total net value of the property will also <br />increase. According to the most recent tax roll, the property is currently valued at $335,498, <br />resulting in approximately $7,000 in annual property tax. Of this amount the City of Santa Ana <br />receives approximately $1,400. Upon completion, the property is estimated to be valued at <br />approximately $650,000 and generate $2,600 in property tax revenue for the City of Santa Ana. The <br />construction of the project will require that permit fees are paid to the City and there will be <br />temporary construction jobs. Based on sales volume estimates provided by 7-Eleven, the location <br />will provide additional sales tax revenue to the City that is estimated to be over $30,000 annually. In <br />addition, 7-Eleven estimates 10 to 20 new job opportunities will be created at this specific location. <br />Conclusion <br />Based on the analysis provided within this report, staff recommends that the Planning Commission <br />approve CUP No. 2019-12 and VA No. 2019-01, subject to the recommended conditions of <br />approval, as outlined on the attached resolutions, and any other limitations and/or conditions the <br />Planning Commission may wish to impose and recommend that the City Council approve and adopt <br />ER No. 2017-140 and AA No. 2019-02. <br />Z <br />Jerry C. Guev ra <br />Assistant Planner I <br />S:1Plennillg CommissimA2019�6-10-1917-Eleven a11904 W. ISMCel. AA No. 1"Z CUP No. 19-12 & VA No. 19-OW-Eleven AA19-02, CUP19-12 & VA19-01.SWftRaWtpeAa <br />Exhibits: <br />1. CC Resolution for MND, ER No. 2017-140 <br />2. PC Resolution for CUP No. 2019-12 <br />3. PC Resolution for VA No. 2019-01 <br />4. CC Ordinance for AA No. 2019-02 <br />5. Vicinity Zoning & Aerial View <br />6. Site Photo <br />7. Site Plan <br />8. Floor Plan <br />9, Elevations <br />10. Landscape Plan <br />11. Monument Sign Visibility Diagrams <br />12. Sunshine Ordinance Minutes <br />13. Mitigated Negative Declaration & Technical Studies <br />14. Mitigated Negative Declaration Received Comment Letters <br />75B-80 <br />