75D - Additional Staff Report submitted at Mtg by PBA Director

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2018 Property Tax Basic Levy and Base Tax Revenues (Estimated) 2018 Property Tax Basic Levy* (19% of 1% of Assessed Valuation) $638,126 2018 Sales Tax (Actual) ** $1,630,860 Hotel Visitor Tax (None existing on property) $0 Business License Tax/ Franchise Tax $180,000 UUT (Water) $12,700 Total Estimated Base Year Tax Revenues $2,461,686 *The FY 2018-19 property tax basic levy for Ma in Place Mall is calculated using the 2018 total assessed valuation forth various parcels related to MainPlace Mall, excluding the Macy Parcel (APN 002-221-28) as Centennial does not have ownership of the parcel, multiplied by 1% and by 19% of the 1% ($335,856,181 x 1% _ $3,358,562.81 x 19%= $638,126). The City of Santa Ana and the Successor Agency to the former Santa Ana Redevelopment Agency are two of various "Pass-Thru" entities who share in the related property tax basic levy revenue as a result of the assessed valuation of the property. ** Measure X is a voters approved 20-year period sales tax increase in November 2018. Measure X's initial assessment is set at 1.5%in addition to the current 1.0% (2.5%total) starting from 4/1/19 through 3/31/2029 and reducing to 1.0% (2.0%total) starting from 4/1/2029 and sunsets on 3/31/2039. For the purpose of this Agreement, future tax revenues generated by Measure X shall be calculated separately and shall not be a factor for the base year and shall also be excluded from all future calculations. Only the revenues from the current 1% sales tax rate shall be used for the base year and all future calculations. Centennial does not control ownership of the Macy Parcel, the sales tax revenues from the retails operations on this parcel is excluded from the current and all future calculations.