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Ordinance Amendment No. 2019-01 — Commercial Cannabis Vertical and Horizontal Integration <br />and Ordinance Updates <br />June 4, 2019 <br />Page 6 <br />FISCAL IMPACT <br />There is no fiscal impact associated with approval of this action as projected revenues are <br />incorporated within the City's 2019-20 budget. Failure to adopt the above recommended action <br />items, however, would have a negative impact as a significant portion of the 127 pending <br />commercial cannabis applicants awaiting adoption of those recommended items before committing <br />to entering the approval, permitting, and licensing process will defer or cancel their decision to <br />enter the Santa Ana market and anticipated revenues will not be realized. <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this item supports the City's efforts to meet Goal #3 - Economic Development, <br />Objective #2 (create new opportunities for business/job growth and encourage private <br />development through new General Plan and Zoning Ordinance policies), Objective #3 (promote a <br />solutions -based customer focus in all efforts to facilitate development and investment in the <br />community), and Objective #5 (leverage private investment that results in tax base expansion and <br />job creation citywide). Approval of this item also supports the City's efforts to meet Goal #4 - City <br />Financial Stability; Objective #3 (achieve a structurally balanced budget with appropriate reserve <br />levels). <br />944 �yi 8'inrvy� <br />Kathryn Dowrfs, CPA <br />Executive Director <br />Finance and Management Services Agency <br />Exhibits: 1. Ordinance <br />r <br />Minh Thai <br />Executive Director <br />Planning and Building Agency <br />2. Resolution- Reducing The Commercial Cannabis Gross <br />Receipts Tax for Testing Laboratories from 5% to 2% <br />3. Resolution - Establishing a Canopy Measurement Service Fee <br />and an Allocated Square Footage Measurement Service Fee <br />75F-6 <br />