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ER No. 2018-75, GPA No. 2019-01, AA No. 2019-01 <br />June 4, 2019 <br />Page 9 <br />FISCAL IMPACT <br />The proposed development is estimated to generate approximately $7,000,000 in City permit <br />and school district fees and will create 683 full and part-time jobs during construction and 9 <br />permanent jobs. Following development, the improvements to the site are expected to result in <br />an annual property tax revenue of $174,400 and annual sales tax revenues of $48,789. The <br />annual sales tax revenue is forecast based on the community's residents living in close proximity <br />to one of the City's strongest commercial corridors on South Bristol Street. Based on a <br />comprehensive review of taxes and fees generated by the development and City expenses <br />resulting from the development, the net new General Fund revenue is projected to be <br />approximately $9,869,000 over a 25-year period. <br />Minh Thai <br />Executive Director <br />Planning and Building Agency <br />IO:la <br />S:RFCA\2019\06-04-19\Legacy Sunflower\PBA-GPA 2019-01 AA 2019-01 RFCA Version Zoo <br />Exhibits: 1. Planning Commission Staff Report and Resolution <br />2. MND and Resolution <br />3. General Plan Amendment Resolution <br />4. Amendment Application Ordinance <br />751-9 <br />