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Related proposed the Specific Plan to replace the existing General Commercial ("C2") and <br />Regional Commercial ("CR") zoning on the Project site, demolish the existing shopping <br />center and related infrastructure, and redevelop the Project site into a mixed -use <br />development of for -rent residential units, retail and service uses, and a hotel. A summary <br />of the proposed land uses and their respective associated residential dwelling unit and non- <br />residential square footage parameters within the Project are listed below in Table 1. <br />Table 1: Proposed Land Uses for the Project <br />Residential Land Uses <br />3,950 DUs <br />Senior Living <br />200 DUs <br />Apartments <br />3,750 DUs <br />Non -Residential Land Uses <br />350,000 BSF/2S0 RMs <br />Grocery <br />50,000 BSF <br />Fitness <br />45,000 BSF <br />Restaurant <br />70,000 BSF <br />Neighborhood Retail <br />75,000 BSF <br />Neighborhood Services <br />110,000 BSF <br />Hotel <br />250 RMs <br />B Analytic Methodology and Assumptions <br />Notably, only recurring revenues and costs are analyzed in both of the FIAs. Costs that are <br />considered non -recurring, such as capital expenditures, are excluded from both analyses. This <br />is because new development is generally required to construct its own new capital <br />improvements, such as roads or parks, or pay Development Impact Fees ("DIFs") that enable the <br />City or some other developer to construct these improvements. As capital construction costs <br />and DIFs are considered to be "one-time" costs that will not recur, there is no expectation that <br />new development will need to pay for these capital expenditures or DIFs a second time. In sum, <br />the FIAs reflect the projected recurring annual fiscal deficit or fiscal surplus to the City's General <br />Fund that will result from the development of the Project. <br />Unless otherwise noted in the text below, DTA utilized many of the same analytical assumptions <br />that were employed in the Related FIA. DTA has not, to date, been provided with an alternative <br />set of Project land uses, residential rents, product absorption schedules or other assumptions <br />that contradict some of the Related FIA's assumptions. As such, DTA included most of these <br />Related FIA assumptions in the DTA FIA. If City staff questions any of these assumptions, DTA <br />could revise its fiscal analysis to reflect other assumptions that the City feels are more realistic. <br />However, the DTA FIA did identify some assumptions in the Related FIA that might be <br />questionable, and these assumptions were modified for purposes of the DTA FIA, thereby <br />resulting in a significantly smaller Project annual fiscal surplus as compared with the Related <br />FIA. Listed below are the revisions incorporated in the DTA FIA that varied from those employed <br />in the Related FIA. <br />City of Santa Ana <br />Fiscal Impacts Resulting from the Proposed Related Bristol Specific Plan <br />Exhibit 10 <br />September 2Z 2023 <br />2 <br />