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I:1 a Ole 111►:t1 CITY OF SANTA ANA GENERAL DEMOGRAPHIC INFORMATION The following material is descriptive of the City of Santa Ana and the surrounding areas of Orange County (the "County"). It has been prepared by or excerpted from sources as noted herein, and has not been independently verified by Bond Counsel, Disclosure Counsel, or the Underwriter. The Bonds are payable solely from the sources described herein (see "SECURITY FOR THE BONDS"). General Santa Ana is a vibrant community with a youthful population, a diverse economic base and home to approximately 30,000 businesses (as measured by business licenses issued). Notable Fiscal Year 2022-2023 City demographics include: • Taxable Sales of $5.1 Billion • Population — 308,771 • Median Household Income- $77,283 • Labor Force of 156,600 • Low unemployment rate of 3.3% • Building Activity of $465 Million • Assessed Valuations of $30.4 Billion Overall, the City has a diverse economy, which is helpful during economic downturns. The top 25 businesses generate about 30% of the City's total sales tax revenue. The City's solid retail segment is anchored by Bristol Street Business Corridor, Main Place Mall, and the Santa Ana Auto Mall. Santa Ana also features a historic downtown with many independent restaurants surrounding a cultural artist village. Three of the City's most popular attractions are the Santa Ana Zoo at Prentice Park, the world-renowned Bowers Museum, and the Discovery Cube. The Zoo hosts a variety of exhibits such as the Colors of the Amazon, the Zoofari, and the Fifty - Monkey Ferris Wheel. As the largest and one of the oldest museums in Orange County, Bowers has been voted `Best Museum' in Orange County for the past 30 years by OC Register Readers (2023). The Discovery Cube is a nonprofit interactive science museum and exhibit with a mission to educate and inspire children. The City's diverse economic base includes transportation, general retail, business to business, food industry, and construction. Transportation and general retail comprise about approximately half of the City's sales tax base. However, the top five sales tax segments in the City are restaurants, auto sales, service stations, building materials, and drug stores. In December 2017, Santa Ana received a Federal Opportunity Zone designation of eleven census tracts encompassing 25% of the City. The designation includes areas projected for future development, including the Santa Ana Regional Transportation Center (SARTC) and the route of the Orange County Transportation Authority's (OCTA) Street Car. These zones have the potential to boost the local economy if developers seize the opportunity to use the federal tax incentives by December 2028 and support the City's role in creating a business -friendly, safe, and attractive environment. Each new business results in new jobs, increased sales tax revenue and property values. City Council appropriations of resources are budgeted expenditures. For the 2023-2024 Fiscal Year, citywide appropriations across all funds was $764.1 million. General Fund revenue is unrestricted, meaning it can be used for any lawful purpose. Of the citywide appropriations, General Fund revenue accounts for 52% of total appropriations, which is typical for a municipality. Sales tax and property tax continue to be the primary revenue sources for the General Fund, accounting for more than 60% of the General Fund budget. To help protect city service levels in the event of a recession, City Council adopted a policy to ensure at least 18% of recurring General Fund revenue is set aside as a reserve at all times.