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6 <br /> <br /> <br /> <br />Retail-Derived Sales Tax <br /> <br />The Project also includes 12,500 square feet of retail space. The new businesses operating in <br />this space will also bring in sales tax revenues for the City. Since the Developer does not yet <br />know the exact types of retail tenants that will fill the space, RSG estimated an average of $350 <br />of sales per square foot, which equates to estimated annual sales generated by the new space <br />of $4.3 million (2019$). <br /> <br />Retail-derived sales tax is estimated to bring in $1.7 million after 25-years ($937 thousand in <br />2019$) under the regular City share of sales tax, and an additional $1.3 million ($840 thousand <br />in 2019$) under the Measure X increase. <br /> <br /> <br /> <br />Business Tax <br /> <br />The City assesses a business tax on retail, restaurant, and multi-family management companies. <br />Retail and restaurant business taxes are assessed based on annual sales while management <br />company business taxes are assessed based on a base tax rate plus a rate and surcharge per <br />unit. The combined business tax revenues are approximately $7,571, or $308 thousand ($167 <br />thousand in 2019$) over 25 years. <br />Taxable Household Expenditures 17,366$ <br />Number of Households 220 <br />Estimated Transactions within City of <br />Santa Ana 50% <br />City Share of Sales Tax 1% <br />2018 Sales Tax Increase 1.5% <br />Resident-Derived Sales Tax Revenues <br />(Regular)19,103$ <br />(2018 Increase)28,654$ <br />Source: California State Board of Equalization, RSG, Inc <br />RESIDENT-DERIVED SALES TAX REVENUE <br />4th + Main <br />RETAIL-DERIVED SALES TAX REVENUE <br />4th + Main <br />Annual Sales <br />General Retail 4,322,500$ <br />4,322,500$ <br />City Share of Sales Tax 1% <br />2018 Sales Tax Increase 2% <br />Retail-Derived Sales Tax Revenues <br />(Regular)47,233$ <br />(2018 Increase)70,850$ <br />Source: California State Board of Equalization, RSG, Inc. <br />1- 146