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ER No. 2019-85/DBA No. 2020-01/SPR No. 2020-01/SPR No. 2020-02/DDA <br />November 17, 2020 <br />Page 16 <br />Table 10: Potential General Fund Revenue from Proposed Project <br />Summary of Annual Potential Revenue from Project <br />Property Tax Secured & Unsecured <br />$210,000 <br />Property Tax In -Lieu of VLF <br />$130,000 <br />Sales & Use Tax On-site/Direct <br />$57,000 <br />Sales & Use Tax (Off-Site/Indirect)On- <br />Site <br />$25,000 <br />Transient Occupancy Tax $90 RevPar <br />$270,000 <br />Utility User Tax & Other Tax <br />$45,000 <br />Annual General Fund Revenues <br />ROUNDED: <br />$737,000 <br />Table 11: Potential Economic Benefits of Construction for 3rd and Broadway <br />Employment <br />Labor Income <br />Direct On -site <br />475 <br />$49,000,000 <br />Indirect <br />180 <br />$14,000,000 <br />Induced <br />200 <br />$13,000,000 <br />Total Countywide <br />855 <br />$76,000,000 <br />Estimated City Capture <br />510 <br />$53,000,000 <br />Submitted By: Steven A. Mendoza, Executive Director — Community Development Agency <br />Minh Thai, Executive Director — Planning and Building Agency <br />Exhibits: 1. Resolution Approving 2020 Addendum <br />2. Resolution Approving Density Bonus Agreement No. 2020-01, Site Plan Review <br />No. 2020-01, and Site Plan Review 2020-02 <br />3. Resolution Approving Disposition and Development Agreement <br />4. Planning Commission Staff Report <br />5. 52201 and 53083 Summary and Economic Subsidy Report <br />6. Development and Disposition Agreement <br />7. Density Bonus Agreement <br />8. City's Response to Palmieri, Hennessey, and Leifer LLP Comment Letter <br />75A-16 <br />