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Santa Ana Resident Vehicle Incentive Program <br />January 15, 2019 <br />Page 3 <br />Marketing and Administration Bud -gets <br />With marketing of the program, staff is expecting that the number of new cars sold to local <br />residents, and entitled to the incentive, could reach up to 2,000 vehicles. With a rebate amount of <br />$500 per resident, the anticipated first year budget for the program would be over $1.7 million <br />dollars. The marketing and administration of the program is expected to be up to $25,000 of City <br />funds, which will be used by the Community Development Agency and the Finance and <br />Management Services Agency to effectively administer the program. Additionally, each <br />participating dealer has committed to spend $25,000 for marketing the program. As part the <br />marketing efforts, digital reader boards would also be placed in center medians throughout the City <br />to inform Santa Ana residents of the incentive. <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this item supports the City's efforts to meet Goal #3 Economic Development, Objective <br />#3, (Promote a solutions -based customer focus in all efforts to facilitate development and <br />investment in the community), Strategy C (Explore opportunities to encourage a business friendly <br />environment within the city through the reduction of non-essential regulatory requirements, <br />improved coordination between agencies for development review and addition of monetary <br />incentives). <br />FISCAL IMPACT <br />There is no fiscal impact associated with this action, however after terms are approved an <br />Agreement with a Fiscal Impact will be presented. <br />�- <br />Steven <br />A. Mendoza <br />Executive Director <br />Community Development Agency <br />65C-3 <br />