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Table 3: Property Tax Revenue <br />Proposed Project Total Assessed Value <br />City Property Tax Rate <br />Proposed Tax Revenue (2027) <br />28-Year Revenue <br />28-Year Revenue (2022 Dollars) <br />Property Tax In -Lieu of Motor Licenses Fees <br />Proposed Project Total Assessed Value <br />Proposed Property In -Lieu of VLF (2027) <br />28-Year Revenue <br />28-Year Revenue (2022 Dollars) <br />Assessed Value from FRH, assuming 4.25% cap rate <br />Property Tax rates from City of Santa Ana <br />UTILITY USER TAX <br />Dollars <br />$286,194,565 <br />11.0% <br />$339,999 <br />$10,452,020 <br />$5,506,139 <br />$286,194,565 <br />$148,821 <br />$4,574,958 <br />$2,410,127 <br />The City of Santa Ana assesses a utility user tax of 5.5 percent on electricity, gas, water, and <br />telephone revenues generated in the City. Utility costs were estimated by TCG based on <br />prior review of utility costs. Assumed annual utility expenditures consist of Gas at $295, water <br />at $590, electric at $1,476, and phone at $959. Based on these assumptions, TCG <br />estimates the utility use tax revenues generated by the development to be approximately <br />$3.2 million ($1.7 in 2022 dollars) For a more detailed projection, see Appendix 3. <br />Table 4: Utility User Tax Revenue <br />Energy Expenditures per Houshold <br />Number of Households <br />Total Residential Energy Expenses <br />Santa Ana Tax Rate <br />Cumulative TOT <br />Cumulative TOT, 2022 Dollars <br />ADR and Occupancy from Mountain View Proforma <br />TOT rate from City of Chula Vista <br />FRH Realty LLC <br />22179.01 Santa Ana, CA <br />$3,321 <br />507 <br />$1,683,644 <br />5.5% <br />$3,210,515 <br />$11713,508 <br />April 2023 <br />City Council 18 — 385 10/3/2023 <br />