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2 City of Santa Ana September 27, 2023 Fiscal Impacts Resulting from the Proposed Related Bristol Specific Plan Related proposed the Specific Plan to replace the existing General Commercial (“C2”) and Regional Commercial (“CR”) zoning on the Project site, demolish the existing shopping center and related infrastructure, and redevelop the Project site into a mixed-use development of for-rent residential units, retail and service uses, and a hotel. A summary of the proposed land uses and their respective associated residential dwelling unit and non- residential square footage parameters within the Project are listed below in Table 1. Table 1: Proposed Land Uses for the Project Land Uses Dwelling Units (“DUs”), Hotel Rooms (“RMs”), and BSF Residential Land Uses 3,950 DUs Senior Living 200 DUs Apartments 3,750 DUs Non-R esidential Land Uses 350,000 BSF/250 RMs Grocery 50,000 BSF Fitness 45,000 BSF Restaurant 70,000 BSF Neighborhood Retail 75,000 BSF Neighborhood Services 110,000 BSF Hotel 250 RMs B Analytic Methodology and Assumptions Notably, only recurring revenues and costs are analyzed in both of the FIAs. Costs that are considered non-recurring, such as capital expenditures, are excluded from both analyses. This is because new development is generally required to construct its own new capital improvements, such as roads or parks, or pay Development Impact Fees (“DIFs”) that enable the City or some other developer to construct these improvements. As capital construction costs and DIFs are considered to be “one-time” costs that will not recur, there is no expectation that new development will need to pay for these capital expenditures or DIFs a second time. In sum, the FIAs reflect the projected recurring annual fiscal deficit or fiscal surplus to the City’s General Fund that will result from the development of the Project. Unless otherwise noted in the text below, DTA utilized many of the same analytical assumptions that were employed in the Related FIA. DTA has not, to date, been provided with an alternative set of Project land uses, residential rents, product absorption schedules or other assumptions that contradict some of the Related FIA’s assumptions. As such, DTA included most of these Related FIA assumptions in the DTA FIA. If City staff questions any of these assumptions, DTA could revise its fiscal analysis to reflect other assumptions that the City feels are more realistic. However, the DTA FIA did identify some assumptions in the Related FIA that might be questionable, and these assumptions were modified for purposes of the DTA FIA, thereby resulting in a significantly smaller Project annual fiscal surplus as compared with the Related FIA. Listed below are the revisions incorporated in the DTA FIA that varied from those employed in the Related FIA. Exhibit 10 City Council 22 – 416 9/17/2024