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CORRESPONDENCE - 75E (GENERAL COMMENTS)
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CORRESPONDENCE - 75E (GENERAL COMMENTS)
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3/11/2019 12:38:42 PM
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City Clerk
Item #
75E
Date
2/19/2019
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COMMUNITY CONTRIBUTIONS <br />Unparalleled benefits and support <br />The Santa Ana community maintains a bond that is truly <br />unparalleled in the region. We not only want The <br />Addington to be a valuable addition to the community, <br />but we want to ensure that it would contribute and <br />provide benefits far into the future. This project will <br />provide the City of Santa Ana with significant net fiscal <br />benefits in recurring revenues and one-time fees. In its <br />first year, the project will pay more than $16 million in <br />permit fees, of this more than $5 million will go directly <br />Highlights <br />• $5m+ immediately to General <br />Fund <br />• $1.2m+ annually to General <br />Fund <br />Supports important City <br />programs and services <br />Page 7 of 9 <br />to the City's general fund. The project's net annual fiscal benefit to the City of Santa Ana will be <br />more than $1.2 million annually or more than $1.1 million than the existing office structure. These <br />funds can be used to fund much needed City programs and services including youth programs, <br />education, city improvements, and more. It should be noted that the development team recently paid <br />all remaining impact fees for the final phase The Heritage for a total of $34,000,000. <br />The project will remit more than $3.5 million in property taxes annually, of that $1.5 million will go to <br />the Santa Ana Unified School District. However, the project anticipates multi -family residents having <br />far fewer children, so the cost to school children from the project will be less than $5001< annually, <br />resulting in a net benefit of more than $1 million to the school district. <br />SECURITY AND SAFETY <br />A long-term commitment to resident safety <br />As residents of Santa Ana, we know how important the safety of our families and neighborhoods is. <br />That's why we included a commitment to providing 24-hour roving patrols for the new residential <br />community as well as the Park Santiago neighborhood and adjacent park. This commitment is <br />memorialized for 55 years in the Development Agreement and upon request by the City of Santa Ana, <br />the security patrols and actions will be reviewed annually to ensure successful operations. <br />SANTIAGO PARK IMPROVEMENTS <br />$1.4+ million towards park improvements <br />To the north of The Addington is Santiago Park, which includes the Santiago Creek Bike Trail and the <br />Santiago Creek. We have committed to providing over $1.4 million in funds for desperately needed <br />improvements to this park, including safety enhancements, new monument signs, new and improved <br />lighting, and landscaping. <br />Additional Benefits to Park Santiago: <br />Access to some on site amenities <br />• Dedicated Amazon locker for Park Santiago residents <br />• 150K contribution towards getting Park Santiago designated as a Historical District. <br />Street light enhancements. <br />240 NEWPORT CENTER DR I VE SUITE #200 NEWPORT BEACH CA 92660 <br />
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