Laserfiche WebLink
Community Development Agency <br />www.santa-ana.org/community-development <br />Item # 21 <br />City of Santa Ana <br />20 Civic Center Plaza, Santa Ana, CA 92701 <br /> Staff Report <br />March 4, 2025 <br />TOPIC: Public Hearing for Five-Year Economic Development Subsidy Report for <br />TACenergy <br />AGENDA TITLE <br />Public Hearing for Five-Year Economic Development Subsidy Report for TACenergy <br />Legal notice published in the OC Reporter on February 21, 2025. <br />RECOMMENDED ACTION <br />1. Conduct public hearing to consider any written or oral comments on the information <br />contained in the Five-Year Economic Development Subsidy report for TACenergy. <br />2. Receive and file report. <br />GOVERNMENT CODE §84308 APPLIES: No <br />DISCUSSION <br />On March 3, 2020, the City Council approved a sales tax sharing agreement with <br />TACenergy, one of the largest national wholesale fuel suppliers in the country, with <br />annual sales exceeding 2.7 billion gallons and more than $5 billion in revenue. During <br />the term of the 25-year agreement, the City shares 50% of the sales tax generated by <br />TACenergy. <br />Government Code Section 53083 requires that the City Council must hold a noticed <br />public hearing and, prior to the public hearing, provide information to the public through <br />the City's website regarding the proposed economic development subsidy. As part of <br />the approval process, an economic development subsidy report was completed and <br />submitted detailing the structure of the public subsidy, projected tax benefits, and <br />estimated number of jobs that would be created by the subsidy. This report has been <br />available to the public and posted on the City's website until the end date of the <br />economic development subsidy. <br />Government Code 53083 also requires that within five-years of the approval of the <br />subsidy, the City must prepare a new subsidy report that includes the original subsidy <br />information plus net tax revenue and net number of jobs created by the subsidy. The <br />purpose of this public hearing is to consider written or oral comments on the information <br />contained in the subsidy report.   <br />  <br />City Council 21 – 1 3/4/2025