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Richard M. Gollis, Principal <br />THE CONCORD GROUP <br />June 3, 2020 <br />Page 2 <br />As a result, the net new General Fund revenue (revenues less expenditures) is projected to be <br />approximately $5.4 million (net present value, discounted at 4 percent) if the Project were <br />developed as proposed. <br />Table 1 summarizes the 25-year fiscal impact of the Project. Table 2 provides the corresponding <br />forecast of the same impacts on the following page. <br />Table 1 <br />NET NEW RECURRING GENERAL FUND FISCAL IMPACTS <br />4th and Mortimer <br />Revenue <br />25-Year Recurring <br />Nominal NPV 4.0% <br />Property Tax <br />$ 5,373,270 <br />$ 2,993,993 <br />Property Tax In -Lieu <br />3,739,484 <br />2,086,226 <br />Sales Tax <br />1,913,260 <br />1,019,241 <br />Measure X (2018) Sales Tax Increase <br />1,522,027 <br />987,230 <br />Utility User Tax <br />938,109 <br />499,754 <br />Business Tax <br />313,235 <br />166,868 <br />Total Revenues <br />$ 13,799,385 <br />$ 7,753,312 <br />Less City Expenditures $ (4,495,985) $(2,390,794) <br />NET NEW REVENUE TOTAL $ 9,303,400 $ 5,362,518 <br />Sources: City of Santa Ana, County of Orange, California State Board of Equalization, ESRI <br />Business Analyst Online, and RSG, Inc. <br />75C-446 <br />