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FISCAL IMPACT SUMMARY:
<br />This section presents a summary of our 28-year projections followed by a more detailed
<br />description of each component revenue analyzed. The net new tax revenue presented in all
<br />fiscal impact revenue projections begins with Construction Year One, "CY1 " in 2023, lasting
<br />3-years, ending in 2025. This is followed by a 25-year operating forecast from 2026 through
<br />2050.
<br />Total net new revenues to the City over the 3-year construction period plus the 25-year
<br />projection period amount to $22.8 million ($12.3 million in 2022 dollars).
<br />Table 2 provides a summary by revenue source of the total net new revenues for the City
<br />and County over both the 3-year construction period and the 28-year projection period. The
<br />analysis utilizes current market conditions, as provided by FRH, and escalated at a 2%
<br />inflation rate. FRH may consider utilizing updated market analyses upon the future
<br />construction of the Project to have a more current assessment on the market -driven values.
<br />Table 2: Fiscal Impact Projections
<br />Construction Period + 25-Year Recurring Tax Forecast
<br />Phasing
<br />Property Tax
<br />Utility User
<br />Resi-Derived
<br />Retail
<br />Gross
<br />City
<br />Net
<br />Year
<br />Year
<br />Property Tax
<br />In -Lieu of VLF
<br />Tax
<br />Sales Tax
<br />Sales Tax
<br />City Revenue
<br />Expenditures
<br />New Total
<br />Proforma
<br />2022
<br />$0
<br />$0
<br />$0
<br />$0
<br />$0
<br />$0
<br />$0
<br />$0
<br />CYl
<br />2023
<br />$0
<br />$0
<br />$0
<br />$0
<br />$0
<br />$0
<br />$0
<br />$0
<br />CY2
<br />2024
<br />$0
<br />$0
<br />$0
<br />$0
<br />$0
<br />$0
<br />$0
<br />$0
<br />CY3
<br />2025
<br />$0
<br />$0
<br />$0
<br />$0
<br />$0
<br />$0
<br />$0
<br />$0
<br />1
<br />2026
<br />$108,613
<br />$47,541
<br />$100,234
<br />$198,938
<br />$37,209
<br />$492,534
<br />$454,060
<br />$38,474
<br />2
<br />2027
<br />$339,999
<br />$148,821
<br />$102,238
<br />$202,916
<br />$37,953
<br />$831,928
<br />$463,142
<br />$368,786
<br />3
<br />2028
<br />$346,799
<br />$151,798
<br />$104,283
<br />$206,975
<br />$38,712
<br />$848,566
<br />$472,404
<br />$376,162
<br />4
<br />2029
<br />$353,735
<br />$154,834
<br />$106,369
<br />$168,891
<br />$31,589
<br />$815,418
<br />$481,853
<br />$333,565
<br />5
<br />2030
<br />$360,810
<br />$157,930
<br />$108,496
<br />$172,269
<br />$32,221
<br />$831,726
<br />$491,490
<br />$340,236
<br />6
<br />2031
<br />$368,026
<br />$161,089
<br />$110,666
<br />$175,714
<br />$32,865
<br />$848,360
<br />$501,319
<br />$347,041
<br />7
<br />2032
<br />$375,387
<br />$164,311
<br />$112,879
<br />$179,229
<br />$33,522
<br />$865,328
<br />$511,346
<br />$353,982
<br />8
<br />2033
<br />$382,894
<br />$167,597
<br />$115,137
<br />$182,813
<br />$34,193
<br />$882,634
<br />$521,573
<br />$361,061
<br />9
<br />2034
<br />$390,552
<br />$170,949
<br />$117,440
<br />$186,470
<br />$34,877
<br />$900,287
<br />$532,004
<br />$368,283
<br />10
<br />2035
<br />$398,363
<br />$174,368
<br />$119,789
<br />$190,199
<br />$35,574
<br />$918,293
<br />$542,644
<br />$375,648
<br />11
<br />2036
<br />$406,330
<br />$177,855
<br />$122,184
<br />$194,003
<br />$36,286
<br />$936,658
<br />$553,497
<br />$383,161
<br />12
<br />2037
<br />$414,457
<br />$181,412
<br />$124,628
<br />$197,883
<br />$37,011
<br />$955,392
<br />$564,567
<br />$390,825
<br />13
<br />2038
<br />$422,746
<br />$185,040
<br />$127,121
<br />$201,841
<br />$37,752
<br />$974,499
<br />$575,858
<br />$398,641
<br />14
<br />2039
<br />$431,201
<br />$188,741
<br />$129,663
<br />$102,939
<br />$19,253
<br />$871,797
<br />$587,376
<br />$284,422
<br />15
<br />2040
<br />$439,825
<br />$192,516
<br />$132,256
<br />$104,998
<br />$19,638
<br />$889,233
<br />$599,123
<br />$290,110
<br />16
<br />2041
<br />$448,622
<br />$196,366
<br />$134,901
<br />$107,097
<br />$20,031
<br />$907,018
<br />$611,106
<br />$295,912
<br />17
<br />2042
<br />$457,594
<br />$200,294
<br />$137,599
<br />$109,239
<br />$20,432
<br />$925,158
<br />$623,328
<br />$301,831
<br />18
<br />2043
<br />$466,746
<br />$204,300
<br />$140,351
<br />$111,424
<br />$20,840
<br />$943,662
<br />$635,794
<br />$307,867
<br />19
<br />2044
<br />$476,081
<br />$208,386
<br />$143,158
<br />$113,653
<br />$21,257
<br />$962,535
<br />$648,510
<br />$314,025
<br />20
<br />2045
<br />$485,603
<br />$212,553
<br />$146,022
<br />$115,926
<br />$21,682
<br />$981,785
<br />$661,480
<br />$320,305
<br />21
<br />2046
<br />$495,315
<br />$216,804
<br />$148,942
<br />$118,244
<br />$22,116
<br />$1,001,421
<br />$674,710
<br />$326,711
<br />22
<br />2047
<br />$505,221
<br />$221,140
<br />$151,921
<br />$120,609
<br />$22,558
<br />$1,021,450
<br />$688,204
<br />$333,245
<br />23
<br />2048
<br />$515,325
<br />$225,563
<br />$154,959
<br />$123,021
<br />$23,009
<br />$1,041,879
<br />$701,968
<br />$339,910
<br />24
<br />2049
<br />$525,632
<br />$230,075
<br />$158,058
<br />$125,482
<br />$23,470
<br />$1,062,716
<br />$716,008
<br />$346,709
<br />25
<br />2050
<br />$536,144
<br />$234,676
<br />$161,220
<br />$127,991
<br />$23,939
<br />$1,083,970
<br />$730,328
<br />$353,643
<br />Grand Total:
<br />$10,452,020
<br />$4,574,958
<br />$3,210,515
<br />$3,838,764
<br />$717,990
<br />$22,794,248
<br />$14,543,691
<br />$8,250,556
<br />NPV:
<br />4.0%
<br />$5,517,384
<br />$2,421,372
<br />$1,724,753
<br />$2,260,786
<br />$432,038
<br />$12,311,124
<br />$7,773,266
<br />$4,549,161
<br />Escalation:
<br />2%
<br />2%
<br />2%
<br />2%
<br />2%
<br />2%
<br />2%
<br />2%
<br />Source: City
<br />of Santa Ana,
<br />TCG, FRH
<br />FRH Realty LLC
<br />22179.01 Santa Ana, CA
<br />April 2023
<br />City Council
<br />18 - 383 10/3/2023
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