Item 28 - Public Hearing - ZOA No. 20204-01 South Coast Technology Center

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ta www.FinanceDTA.com IV FISCAL IMPACTS A Total Recurring Revenues SECTION IV FISCAL IMPACTS The total recurring incremental revenues to the City are projected to be $460,412 per year. As illustrated below in Table 10 and Figure 4, the largest percentage of revenue generated (82.4%) is attributed to the Property Tax category (including property tax in lieu of VLFs). Given the existing assessed value for the Project site has been artificially restricted by a 2% annual escalator, the development of the components of the Project would remove that restriction and substantially increase the property taxes and in -lieu VLF revenues for the site. Attachments in Appendices A-4 through A-8 provide additional details regarding all recurring revenues and the assumptions used in their derivation. Table 10: Recurring Fiscal Revenues (the City's General Fund) Secured Property Tax $235,616 51.2% Unsecured Property Tax $23,562 5.1% Property Taxes In Lieu of VLFs $120,157 26.1% Indirect Sales Tax $2,066 0.4% UUT $24,439 5.3% Business Licenses $38,284 8.3% Franchise Fees $5,353 1.2% Charges for Services $5,219 1.1% Licenses and Permits $1,657 0.4% Fines and Forfeitures $2,765 0.6% Adult -Use Retail Business Cannabis Tax $869 0.2% Medical Marijuana Taxes $30 0.0% Investment Income $395 0.1% Total Revenues $460,412 100.0% Note: All numbers are subject to rounding. Figure 4: Recurring General Fund Revenues at Project Build -Out Broken Down by Source Property Taxes $259,178 56.3% / Investment � r Income $395 Multiplier 0.1% Revenues UUT $54,177 $24,439 11.8% 5.3% EPD Solutions, Inc. South Coast Technology Center Fiscal Impact Analysis Report Property Tax In -Lieu of VLF $120,157 26.1% Indirect Sales Tax $2,066 0.4% May 13 2024 9: