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Resident Vehicle Incentive Program (VIP) Agreement <br />March 19, 2019 <br />Page 3 <br />Example of Revenue Generated Per Vehicle Sold with Rebate Incentive <br />Purchase Price Sales Tax to <br />City After April <br />2019 2.5% <br />New Vehicles <br />Rebate to <br />Residents ($500) <br />Estimated <br />Revenue to City <br />Per Vehicle <br />$20,000 $500 <br />$500 <br />$0 <br />$30,000 $750 <br />$500 <br />$250 <br />Average $37,557 $938 <br />$500 <br />$439 <br />$40,000 $1000 <br />$500 <br />$500 <br />$50,000 $1250 <br />$500 <br />$750 <br />Used Vehicles <br />Price <br />Sold to SA <br />$15,000 $375 <br />$500 <br />$125 <br />Average $17,70.5 1 $442 <br />$500 <br />$58 <br />$20,000 $500 <br />$500 <br />$0 <br />$25,000 $625 <br />$500 <br />$125 <br />The table below shows the total estimated revenue to the City with a projected 2,025 new cars and <br />824 used cars sold to Santa Ana Residents for the first year of the program. Estimates for the <br />amount of revenue that leased vehicles would generate is not currently available as leased revenue <br />is received overtime. <br />Estimated Revenue Generated to City for First Year of Program <br />Note: Estimates are based on OCADA sales data <br />75B-3 <br />Average <br />Number of <br />Sales Tax to <br />Rebate to <br />Estimated <br />OC Vehicle <br />Projected <br />City after <br />Residents <br />Sales Tax <br />Purchase <br />Vehicles <br />April 2019 <br />($500) <br />Revenue to <br />Price <br />Sold to SA <br />(2.5%) <br />City <br />Residents <br />New Vehicles <br />$37,557 <br />2,025 <br />$1,901,323 <br />$1,012,500 <br />$888,823 <br />Used Vehicles <br />$17,705 <br />824 <br />$364,723 <br />$412,000 <br />$47,277 <br />Note: Estimates are based on OCADA sales data <br />75B-3 <br />