|
10
<br /> SECTION V
<br />RECURRING AND ONE-TIME FISCAL
<br />BENEFITS TO THE CITY GENERAL
<br />FUND
<br />
<br />
<br />
<br />Related Bristol at 3600 South Bristol Street September 27, 2023
<br />Community Benefits Analysis Report
<br />
<br />www.FinanceDTA.com
<br />V RECURRING AND ONE-TIME FISCAL BENEFITS TO THE CITY GENERAL
<br />FUND
<br />A Recurring Annual Fiscal Surplus to City General Fund
<br />As listed in Table 2, at build-out, the Project is anticipated to generate recurring fiscal net
<br />revenues to the City's General Fund of $3,394,248 per year (in 2023$). This is based on
<br />annual recurring revenues of $11,691,114 and annual recurring expenditures of
<br />$8,296,866 per year. The calculations supporting this projected annual fiscal surplus are
<br />contained in DTA’s memorandum (“memo”) dated June 2, 2023, entitled “Fiscal Impacts
<br />Resulting from the Proposed Related Bristol Specific Plan,” which is included herein by
<br />reference.
<br />Table 2: Net Annual Recurring Fiscal Impacts of the Project
<br />Fiscal Impact Category DTA FIA
<br />Secured Property Tax $3,856,860
<br />Property Transfer Tax $76,707
<br />Property Tax In Lieu of Vehicle License Fee $2,359,024
<br />Direct Sales Tax $1,521,111
<br />Indirect Sales Tax $504,963
<br />Transient Occupancy Tax $1,899,095
<br />Utility User's Tax $697,867
<br />Business Licenses $142,507
<br />Franchise Fees $223,081
<br />Charges for Services $204,276
<br />Licenses and Permits $36,899
<br />Fines and Forfeitures $111,141
<br />Adult-Use Retail Business Cannabis Tax $45,503
<br />Medical Marijuana Taxes $2,040
<br />Intergovernmental $0
<br />Miscellaneous $0
<br />Investment Income $10,041
<br />Total Recurring Revenues $11,691,114
<br />Police Department $3,522,628
<br />Fire Department $1,331,278
<br />Public Works $1,162,236
<br />Park, Recreation & Community Services $276,301
<br />Community Development $161,700
<br />Library & Museum $187,689
<br />General Government $1,655,034
<br />Total Recurring Expenditures $8,296,866
<br />Total Annual Recurring Surplus/(Deficit) $3,394,248
<br />Total Annual Revenue/Expenditure Ratio 1.41
<br />Exhibit 10
<br />
<br />
<br />City Council 22 – 450 9/17/2024
|