August 23 2024
Maria Miller
Director of Planning and Entitlement
Baldwin and Sons
610 W, Ash Street, Suite 1500
San Diego, CA 92101
Re: Updating the Otay Ranch Village 7 PFFP and FIA Based on Minor Land Use Change
Dear Maria:
We have reviewed the proposed amendment to the Village 7 Sectional Planning Area (SPA) Plan.
The amendment would reallocate 171 units, currently approved for development in Village Seven in the Otay Ranch General Development Plan (GDP) but not yet assigned to any neighborhood, and rezone 287 single -family units to multi -family use across neighborhoods R -3, R -4, and R -8 (collectively referred to as "the Project"). Importantly, this change does not increase the total number of approved residential units within Village 7, which remains at 1,456.
Key Points:
1. Land Use Changes:
Under the existing entitlements, the Project would be developed with 116 single -family homes (13 units in Neighborhoods R -3, 59 units in Neighborhood R -4, and 44 units in Neighborhood R-8).
Table 1
Existing Village Seven Entitlement
Neighborhood Product Type Number of
Res. Units
Res.
Density
R-1 (built-out) Single-Family 346 6.8
R-2 (built-out) Single-Family 375 7.4
R-3 Single-Family 13 5.3
R-4 Single-Family 59 5.8
R-8 Single-Family 44 5.3
R-5 (built-out) Multi-Family 132 7.6
R-6 (built-out) Multi-Family 193 15.4
R-7 (built-out) Multi-Family 123 15.4
Banked GDP units (not assigned to any neighborhood) Single-Family 171 5.3 Total Residential Units: 1,456
The proposed amendment would reallocate 171 banked units that are not currently assigned to any specific neighborhood, to the Project. The amendment would permit the construction of 287 multi-family units distributed as follows: 43 units in Neighborhoods R -3, 121 units in Neighborhood R-4, and 123 units in Neighborhood R-8.
Table 2
Proposed Amendment to Village Seven Entitlement
Neighborhood Product Type Number of
Res. Units
Res.
Density
R-1 (built-out) Single-Family 346 6.8
R-2 (built-out) Single-Family 375 7.4
R-3 Multi--Family 43 17.9
R-4 Multi-Family 121 38.6
R-8 Multi-Family 123 14.8
R-5 (built-out) Multi-Family 132 7.6
R-6 (built-out) Multi-Family 193 15.4
R-7 (built-out) Multi-Family 123 15.4
Banked GDP units (not assigned to any neighborhood) 0 5.3 Total Residential Units: 1,456
2. Fiscal Impact Analysis:
We utilized the City of Chula Vista's model to assess the fiscal impact of the proposed changes. Our analysis shows:
• Existing Scenario (116 single-family units): Net fiscal surplus of $4,379,275 over 20 years • Proposed Scenario (287 multi -family units): Net fiscal surplus of $ 1,222,520 over 20 years.
Both scenarios represent a positive fiscal impact for the City of Chula Vista. The difference can be attributed to the lower assessed value per unit for multi -family housing compared to single - family homes and the potential increased costs for serving a larger number of units.
Table 3
Fiscal Analysis for Year 20 “As-Is” vs. Proposed Development Scenarios Existing Proposed
Number of Units 116 287
Land Use Single-Family Multi-Family
Est. Assessed Value/unit $ 1,126,300 $ 602,595 General Fund Revenues (Y20) $ 554,774 $ 905,873 General Fund Expenditures (Y20) $ 265,943 $ 831,044 Project Net Revenues (Y20) $ 288,831 $ 74,829
3. Public Facilities Financing Plan (PFFP):
We have also reviewed the PFFP prepared by Burkett and Wong dated 10/12/2005 which outlined the facilities necessary to serve the proposed Village 7 development. Based on our review, the facilities described in the PFFP necessary to serve Village 7 have already been completed and should have sufficient capacity to serve the proposed Project. As such we do not believe it is warranted or necessary to prepare any update or supplement to the PFFP as the facilities are already built, no additional off -site facilities are required, and the change will not impact the report’s findings.
Conclusions:
1. Both of the potential development scenarios result in a positive fiscal impact each year and result in a cumulative fiscal surplus to the City.
2. Existing public facilities are adequate to serve the proposed development without additional investment which is not accounted for in the fiscal impact analysis model and will likely result in a higher fiscal surplus for each scenario.
Overall, the proposed amendment appears to offer a balanced approach to development, maintaining fiscal responsibility while potentially addressing broader community needs through increased housing options.
Please let us know if you have any questions or comments.
Sincerely,
Peter Piller
Managing Principal
Exhibit A: Land Use
Information
N'hood No. of
Res Units
Zoning
(Density)
Valuation (Base
Price) Total Value
R-3 13 SF4 5.3 du/ac 1,050,000$ 13,650,000$ R-4 59 SF3 5.8 du/ac 1,200,000$ 70,800,000$ R-8 44 SF4 5.3 du/ac 1,050,000$ 46,200,000$ Total: 116 130,650,000$
R-3 43 RM1 17.9 du/ac 687,000$ 29,541,000$ R-4 121 RM2 38.6 du/ac 486,800$ 58,902,800$ R-8 123 RM1 14.8 du/ac 687,000$ 84,501,000$ 287 172,944,800$
As-Is Condition /Current Zoning
Future Condition/Proposed Amendment
Land Use Information
August 23, 2024
Exhibit B: Existing Scenario
Year 1 2 3 4 5 6 7
Single Family Residential - 98 196 294 325 325 325 Multi-Family Residential - - - - - - - Total (Per Capita Base) - 98 196 294 325 325 325 Employment Population - 5 10 15 16 16 16 Totals - 103 206 309 341 341 341 Single Family Residential - 35 70 105 116 116 116 Multi-Family Residential - - - - - - - Totals - 35 70 105 116 116 116 Year 1 2 3 4 5 6 7
General Fund Revenues
Tax Revenues
Property Tax AV -$ 50,663$ 103,352$ 158,129$ 178,189$ 181,753$ 185,388$ Sales and Use Tax Per Capita - 15,685 32,188 49,602 55,608 56,441 57,299 Sales and Use Tax - Project Specific Project Specific - - - - - - - Transient Occupancy Tax Per Capita - 3,439 6,948 10,470 11,624 11,684 11,746 Property Tax In-Lieu of VLF Project Specific - 34,800 71,337 109,321 123,231 125,702 128,223 Franchise Fees Per Capita - 4,850 9,743 14,683 16,301 16,384 16,472 Other Taxes Per Capita - 2,327 4,453 6,576 7,177 7,091 7,009 Subtotal Tax Revenues - 111,764 228,022 348,782 392,129 399,055 406,136 Other Revenues Per Capita - 216 1,093 1,707 1,858 1,830 1,804 Licenses and Permits Per Capita - 1,477 1,126 1,696 1,846 1,819 1,793 Fines, forfeitures, penalties Per Capita - 345 885 1,334 1,452 1,430 1,410 Use of Money & Property Per Capita - 1,672 3,292 4,865 5,295 5,217 5,142 Charges for Services No Forecast - - - - - - - Intergovernmental Per Capita - 797 1,525 2,298 2,501 2,465 2,430 Subtotal Other Revenues - 4,507 7,921 11,899 12,951 12,763 12,579 Total General Fund Revenues -$ 116,271$ 235,943$ 360,681$ 405,081$ 411,818$ 418,715$ General Fund Expenditures
General Government Per Capita -$ 1,465$ 2,967$ 4,504$ 5,045$ 5,108$ 5,168$ Community Development (20%) Per Capita - 290 586 890 997 1,010 1,022 Public Works/Engineering (20%) Per Capita - 1,637 3,315 5,033 5,638 5,708 5,775 Maintenance Costs Project Specific - - - - - - - PC/EMP Base
Drainage Management System 26.50$ - 2,643 5,285 7,928 8,758 8,758 8,758 Building Management System 4.10 - 408 817 1,225 1,353 1,353 1,353 Parks Management System 15.68 - 1,563 3,126 4,690 5,181 5,181 5,181 Open Space Management System 6.72 - 670 1,340 2,010 2,220 2,220 2,220 Fleet Management System 3.73 - 372 744 1,117 1,234 1,234 1,234 Pavement Annual (PMP) 14.18 - 1,414 2,829 4,243 4,687 4,687 4,687 General Govt Management System 0.65 - 65 130 195 216 216 216 Urban Forestry Management System 6.72 - 670 1,340 2,010 2,220 2,220 2,220
78.28$ - 7,806 15,611 23,417 25,870 25,870 25,870 Community Services Per Capita - 1,014 2,053 3,117 3,491 3,535 3,576 Public Safety:
Police Services Project Specific - 17,991 35,833 56,485 64,158 65,929 67,850 Fire Services Project Specific - 15,516 43,100 67,940 77,169 79,300 81,610 Animal Control Services Per Capita - 1,463 2,962 4,497 5,037 5,100 5,159 Total Public Safety - 34,970 81,894 128,922 146,364 150,329 154,619 Total General Fund Expenditures -$ 47,181$ 106,426$ 165,883$ 187,405$ 191,560$ 196,030$ Projected Net Revenues/(Shortfall) $0 $69,089 $129,516 $194,799 $217,676 $220,258 $222,686 Population
Number of Homes
Year
Single Family Residential
Multi-Family Residential
Total (Per Capita Base)
Employment Population
Totals
Single Family Residential
Multi-Family Residential
Totals
Year
General Fund Revenues
Tax Revenues
Property Tax AV
Sales and Use Tax Per Capita
Sales and Use Tax - Project Specific Project Specific
Transient Occupancy Tax Per Capita
Property Tax In-Lieu of VLF Project Specific
Franchise Fees Per Capita
Other Taxes Per Capita
Subtotal Tax Revenues
Other Revenues Per Capita
Licenses and Permits Per Capita
Fines, forfeitures, penalties Per Capita
Use of Money & Property Per Capita
Charges for Services No Forecast
Intergovernmental Per Capita
Subtotal Other Revenues
Total General Fund Revenues
General Fund Expenditures
General Government Per Capita
Community Development (20%) Per Capita
Public Works/Engineering (20%) Per Capita
Maintenance Costs Project Specific
PC/EMP Base
Drainage Management System 26.50$
Building Management System 4.10
Parks Management System 15.68
Open Space Management System 6.72
Fleet Management System 3.73
Pavement Annual (PMP) 14.18
General Govt Management System 0.65
Urban Forestry Management System 6.72
78.28$
Community Services Per Capita
Public Safety:
Police Services Project Specific
Fire Services Project Specific
Animal Control Services Per Capita
Total Public Safety
Total General Fund Expenditures
Projected Net Revenues/(Shortfall)
Population
Number of Homes
8 9 10 11 12 13 14 15
325 325 325 325 325 325 325 325 - - - - - - - - 325 325 325 325 325 325 325 325 16 16 16 16 16 16 16 16 341 341 341 341 341 341 341 341 116 116 116 116 116 116 116 116 - - - - - - - - 116 116 116 116 116 116 116 116 8 9 10 11 12 13 14 15
189,095$ 192,877$ 196,735$ 200,670$ 204,683$ 208,777$ 212,952$ 217,211$ 58,181 59,603 61,391 63,232 65,129 67,083 69,096 71,169 - - - - - - - - 11,811 11,982 12,342 12,712 13,094 13,486 13,891 14,308 130,794 133,417 136,092 138,820 141,603 144,442 147,337 150,291 16,563 16,803 17,307 17,826 18,361 18,912 19,479 20,064 6,928 6,910 7,117 7,330 7,550 7,777 8,010 8,251 413,374 421,592 430,983 440,591 450,421 460,477 470,766 481,293 1,779 1,769 1,822 1,877 1,933 1,991 2,051 2,112 1,768 1,758 1,811 1,865 1,921 1,979 2,038 2,099 1,390 1,382 1,424 1,467 1,511 1,556 1,603 1,651 5,070 5,042 5,193 5,349 5,510 5,675 5,845 6,021 - - - - - - - - 2,395 2,382 2,454 2,527 2,603 2,681 2,762 2,844 12,401 12,334 12,704 13,085 13,478 13,882 14,298 14,727 425,775$ 433,926$ 443,687$ 453,676$ 463,898$ 474,359$ 485,064$ 496,020$ 5,231$ 5,339$ 5,466$ 5,602$ 5,740$ 5,883$ 6,030$ 6,181$ 1,034 1,056 1,081 1,107 1,135 1,163 1,192 1,222 5,845 5,966 6,108 6,260 6,415 6,574 6,738 6,908 - - - - - - - - 8,758 8,758 8,758 8,758 8,758 8,758 8,758 8,758 1,353 1,353 1,353 1,353 1,353 1,353 1,353 1,353 5,181 5,181 5,181 5,181 5,181 5,181 5,181 5,181 2,220 2,220 2,220 2,220 2,220 2,220 2,220 2,220 1,234 1,234 1,234 1,234 1,234 1,234 1,234 1,234 4,687 4,687 4,687 4,687 4,687 4,687 4,687 4,687 216 216 216 216 216 216 216 216 2,220 2,220 2,220 2,220 2,220 2,220 2,220 2,220 25,870 25,870 25,870 25,870 25,870 25,870 25,870 25,870 3,620 3,695 3,783 3,876 3,972 4,071 4,173 4,277 69,717 71,459 73,246 75,077 76,954 78,878 80,850 82,871 83,855 86,069 88,371 90,688 93,333 96,152 99,036 102,008 5,222 5,330 5,457 5,593 5,731 5,873 6,020 6,171 158,794 162,859 167,074 171,358 176,018 180,903 185,906 191,050 200,394$ 204,784$ 209,382$ 214,073$ 219,150$ 224,464$ 229,909$ 235,509$ $225,381 $229,142 $234,305 $239,603 $244,749 $249,895 $255,155 $260,511 Year
Single Family Residential
Multi-Family Residential
Total (Per Capita Base)
Employment Population
Totals
Single Family Residential
Multi-Family Residential
Totals
Year
General Fund Revenues
Tax Revenues
Property Tax AV
Sales and Use Tax Per Capita
Sales and Use Tax - Project Specific Project Specific
Transient Occupancy Tax Per Capita
Property Tax In-Lieu of VLF Project Specific
Franchise Fees Per Capita
Other Taxes Per Capita
Subtotal Tax Revenues
Other Revenues Per Capita
Licenses and Permits Per Capita
Fines, forfeitures, penalties Per Capita
Use of Money & Property Per Capita
Charges for Services No Forecast
Intergovernmental Per Capita
Subtotal Other Revenues
Total General Fund Revenues
General Fund Expenditures
General Government Per Capita
Community Development (20%) Per Capita
Public Works/Engineering (20%) Per Capita
Maintenance Costs Project Specific
PC/EMP Base
Drainage Management System 26.50$
Building Management System 4.10
Parks Management System 15.68
Open Space Management System 6.72
Fleet Management System 3.73
Pavement Annual (PMP) 14.18
General Govt Management System 0.65
Urban Forestry Management System 6.72
78.28$
Community Services Per Capita
Public Safety:
Police Services Project Specific
Fire Services Project Specific
Animal Control Services Per Capita
Total Public Safety
Total General Fund Expenditures
Projected Net Revenues/(Shortfall)
Population
Number of Homes
16 17 18 19 20
325 325 325 325 325 - - - - - 325 325 325 325 325 16 16 16 16 16 341 341 341 341 341 116 116 116 116 116 - - - - - 116 116 116 116 116 16 17 18 19 20
221,555$ 225,987$ 230,506$ 235,116$ 239,819$ 73,304 75,503 77,768 80,101 82,504 - - - - - 14,737 15,179 15,634 16,103 16,586 153,303 156,376 159,510 162,707 165,968 20,666 21,286 21,924 22,582 23,259 8,498 8,753 9,016 9,286 9,565 492,063 503,083 514,358 525,896 537,701 2,176 2,241 2,308 2,377 2,449 2,162 2,227 2,294 2,363 2,434 1,700 1,751 1,804 1,858 1,914 6,201 6,387 6,579 6,776 6,980 - - - - - 2,930 3,018 3,108 3,201 3,297 15,169 15,624 16,093 16,576 17,073 507,232$ 518,707$ 530,451$ 542,471$ 554,774$ 6,337$ 6,494$ 6,656$ 6,830$ 7,005$ 1,253 1,284 1,316 1,350 1,385 7,081 7,257 7,438 7,632 7,827 - - - - - 8,758 8,758 8,758 8,758 8,758 1,353 1,353 1,353 1,353 1,353 5,181 5,181 5,181 5,181 5,181 2,220 2,220 2,220 2,220 2,220 1,234 1,234 1,234 1,234 1,234 4,687 4,687 4,687 4,687 4,687 216 216 216 216 216 2,220 2,220 2,220 2,220 2,220 25,870 25,870 25,870 25,870 25,870 4,385 4,494 4,606 4,726 4,847 84,943 87,066 89,243 91,474 93,761 105,068 108,220 111,466 114,810 118,255 6,326 6,484 6,645 6,819 6,993 196,337 201,770 207,355 213,104 219,009 241,262$ 247,169$ 253,240$ 259,513$ 265,943$ $265,970 $271,538 $277,212 $282,959 $288,831
Year 1 2 3 4 5 6 7
Property Tax Analysis
Residential Units
Single Family Residential
Total Cumulative SFR Units 116 - 35 70 105 116 116 116 Total Cumulative Residents 2.80 - 98 196 294 325 325 325 Percentage Complete 0% 30% 60% 91% 100% 100% 100%
Constructed Assessed Values $130,650,000 $0 $39,420,259 $78,840,517 $118,260,776 $130,650,000 $130,650,000 $130,650,000 Multi-Family Residential - Attached Townhomes
Total Cumulative MFR Units - - - - - - - Total Cumulative Residents 2.80 - - - - - - - Percentage Complete
Constructed Assessed Values $0 $0 $0 $0 $0 $0 $0
Total Cumulative Residents - 98 196 294 325 325 325 Commercial
Percentage Complete 0% 0% 0% 0% 0% 0% 0%
Constructed Assessed Values -$ -$ -$ -$ -$ -$ -$ -$ Industrial
Percentage Complete 0% 0% 0% 0% 0% 0% 0%
Constructed Assessed Values -$ -$ -$ -$ -$ -$ -$ -$ Office
Percentage Complete 0% 0% 0% 0% 0% 0% 0%
Constructed Assessed Values -$ -$ -$ -$ -$ -$ -$ -$ Hotel
Percentage Complete 0% 0% 0% 0% 0% 0% 0%
Constructed Assessed Values -$ -$ -$ -$ -$ -$ -$ -$ Constructed Assessed Values
Total Current Period Assessed Value Additions -$ 39,420,259$ 78,840,517$ 118,260,776$ 130,650,000$ 130,650,000$ 130,650,000$ Inflation Factor 2.00% 100.00% 102.00% 104.04% 106.12% 108.24% 110.41% 112.62% Total AV - Inflated $0 $40,208,664 $82,025,674 $125,499,281 $141,419,762 $144,248,157 $147,133,120 Cumulative AV (w/o Prior Years Inflation) $0 $40,208,664 $82,025,674 $125,499,281 $141,419,762 $144,248,157 $147,133,120 Prior Years AV Inflation Factor 2.00% 0.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% Prior Years AV Inflation Amount $0 $0 $0 $0 $0 $0 $0
Cumulative Residential AV - Inflated $0 $40,208,664 $82,025,674 $125,499,281 $141,419,762 $144,248,157 $147,133,120 Property Tax Revenue Estimate
Ad-Valorem 1.00% -$ 402,087$ 820,257$ 1,254,993$ 1,414,198$ 1,442,482$ 1,471,331$ Total AV Tax Due to City 12.60% $0 $50,663 $103,352 $158,129 $178,189 $181,753 $185,388
Year
Property Tax Analysis
Residential Units
Single Family Residential
Total Cumulative SFR Units
Total Cumulative Residents
Percentage Complete
Constructed Assessed Values
Multi-Family Residential - Attached Townhomes
Total Cumulative MFR Units
Total Cumulative Residents
Percentage Complete
Constructed Assessed Values
Total Cumulative Residents
Commercial
Percentage Complete
Constructed Assessed Values
Industrial
Percentage Complete
Constructed Assessed Values
Office
Percentage Complete
Constructed Assessed Values
Hotel
Percentage Complete
Constructed Assessed Values
Constructed Assessed Values
Total Current Period Assessed Value Additions
Inflation Factor
Total AV - Inflated
Cumulative AV (w/o Prior Years Inflation)
Prior Years AV Inflation Factor
Prior Years AV Inflation Amount
Cumulative Residential AV - Inflated
Property Tax Revenue Estimate
Ad-Valorem
Total AV Tax Due to City
8 9 10 11 12 13 14 15
116 116 116 116 116 116 116 116 325 325 325 325 325 325 325 325 100% 100% 100% 100% 100% 100% 100% 100%
$130,650,000 $130,650,000 $130,650,000 $130,650,000 $130,650,000 $130,650,000 $130,650,000 $130,650,000 - - - - - - - - - - - - - - - - $0 $0 $0 $0 $0 $0 $0 $0
325 325 325 325 325 325 325 325 0% 0% 0% 0% 0% 0% 0% 0%
-$ -$ -$ -$ -$ -$ -$ -$ 0% 0% 0% 0% 0% 0% 0% 0%
-$ -$ -$ -$ -$ -$ -$ -$ 0% 0% 0% 0% 0% 0% 0% 0%
-$ -$ -$ -$ -$ -$ -$ -$ 0% 0% 0% 0% 0% 0% 0% 0%
-$ -$ -$ -$ -$ -$ -$ -$ 130,650,000$ 130,650,000$ 130,650,000$ 130,650,000$ 130,650,000$ 130,650,000$ 130,650,000$ 130,650,000$ 114.87% 117.17% 119.51% 121.90% 124.34% 126.82% 129.36% 131.95% $150,075,782 $153,077,298 $156,138,844 $159,261,621 $162,446,853 $165,695,790 $169,009,706 $172,389,900 $150,075,782 $153,077,298 $156,138,844 $159,261,621 $162,446,853 $165,695,790 $169,009,706 $172,389,900
2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00%
$0 $0 $0 $0 $0 $0 $0 $0
$150,075,782 $153,077,298 $156,138,844 $159,261,621 $162,446,853 $165,695,790 $169,009,706 $172,389,900 1,500,758$ 1,530,773$ 1,561,388$ 1,592,616$ 1,624,469$ 1,656,958$ 1,690,097$ 1,723,899$ $189,095 $192,877 $196,735 $200,670 $204,683 $208,777 $212,952 $217,211 Year
Property Tax Analysis
Residential Units
Single Family Residential
Total Cumulative SFR Units
Total Cumulative Residents
Percentage Complete
Constructed Assessed Values
Multi-Family Residential - Attached Townhomes
Total Cumulative MFR Units
Total Cumulative Residents
Percentage Complete
Constructed Assessed Values
Total Cumulative Residents
Commercial
Percentage Complete
Constructed Assessed Values
Industrial
Percentage Complete
Constructed Assessed Values
Office
Percentage Complete
Constructed Assessed Values
Hotel
Percentage Complete
Constructed Assessed Values
Constructed Assessed Values
Total Current Period Assessed Value Additions
Inflation Factor
Total AV - Inflated
Cumulative AV (w/o Prior Years Inflation)
Prior Years AV Inflation Factor
Prior Years AV Inflation Amount
Cumulative Residential AV - Inflated
Property Tax Revenue Estimate
Ad-Valorem
Total AV Tax Due to City
16 17 18 19 20
116 116 116 116 116 325 325 325 325 325 100% 100% 100% 100% 100%
$130,650,000 $130,650,000 $130,650,000 $130,650,000 $130,650,000 - - - - - - - - - - $0 $0 $0 $0 $0
325 325 325 325 325 0% 0% 0% 0% 0%
-$ -$ -$ -$ -$ 0% 0% 0% 0% 0%
-$ -$ -$ -$ -$ 0% 0% 0% 0% 0%
-$ -$ -$ -$ -$ 0% 0% 0% 0% 0%
-$ -$ -$ -$ -$ 130,650,000$ 130,650,000$ 130,650,000$ 130,650,000$ 130,650,000$ 134.59% 137.28% 140.02% 142.82% 145.68%
$175,837,698 $179,354,452 $182,941,541 $186,600,372 $190,332,380 $175,837,698 $179,354,452 $182,941,541 $186,600,372 $190,332,380
2.00% 2.00% 2.00% 2.00% 2.00%
$0 $0 $0 $0 $0
$175,837,698 $179,354,452 $182,941,541 $186,600,372 $190,332,380 1,758,377$ 1,793,545$ 1,829,415$ 1,866,004$ 1,903,324$ $221,555 $225,987 $230,506 $235,116 $239,819
Exhibit C: Proposed Scenario
Year 1 2 3 4 5 6 7
Single Family Residential - - - - - - - Multi-Family Residential - 210 420 630 804 804 804 Total (Per Capita Base) - 210 420 630 804 804 804 Employment Population - 11 21 32 40 40 40 Totals - 221 441 662 844 844 844 Single Family Residential - - - - - - - Multi-Family Residential - 75 150 225 287 287 287 Totals - 75 150 225 287 287 287 Year 1 2 3 4 5 6 7
General Fund Revenues
Tax Revenues
Property Tax AV -$ 58,084$ 118,492$ 181,292$ 235,873$ 240,591$ 245,403$ Sales and Use Tax Per Capita - 33,610 68,975 106,291 137,581 139,642 141,765 Sales and Use Tax - Project Specific Project Specific - - - - - - - Transient Occupancy Tax Per Capita - 7,369 14,888 22,437 28,760 28,907 29,062 Property Tax In-Lieu of VLF Project Specific - 39,946 81,835 125,383 163,232 166,503 169,840 Franchise Fees Per Capita - 10,393 20,878 31,463 40,330 40,537 40,754 Other Taxes Per Capita - 4,987 9,543 14,091 17,756 17,545 17,340 Subtotal Tax Revenues - 154,389 314,610 480,957 623,532 633,725 644,162 Other Revenues Per Capita - 464 2,342 3,657 4,596 4,529 4,464 Licenses and Permits Per Capita - 3,165 2,412 3,635 4,568 4,501 4,436 Fines, forfeitures, penalties Per Capita - 740 1,896 2,858 3,592 3,539 3,488 Use of Money & Property Per Capita - 3,582 7,055 10,424 13,100 12,909 12,723 Charges for Services No Forecast - - - - - - - Intergovernmental Per Capita - 1,707 3,268 4,925 6,189 6,099 6,011 Subtotal Other Revenues - 9,658 16,974 25,499 32,044 31,577 31,123 Total General Fund Revenues -$ 164,046$ 331,584$ 506,456$ 655,576$ 665,302$ 675,285$ General Fund Expenditures
General Government Per Capita -$ 3,139$ 6,357$ 9,651$ 12,482$ 12,639$ 12,786$ Community Development (20%) Per Capita - 621 1,257 1,908 2,468 2,499 2,528 Public Works/Engineering (20%) Per Capita - 3,508 7,104 10,785 13,948 14,123 14,288 Maintenance Costs Project Specific - - - - - - - PC/EMP Base
Drainage Management System 26.50$ - 5,663 11,325 16,988 21,669 21,669 21,669 Building Management System 4.10 - 875 1,750 2,625 3,349 3,349 3,349 Parks Management System 15.68 - 3,350 6,699 10,049 12,818 12,818 12,818 Open Space Management System 6.72 - 1,436 2,871 4,307 5,493 5,493 5,493 Fleet Management System 3.73 - 798 1,595 2,393 3,052 3,052 3,052 Pavement Annual (PMP) 14.18 - 3,031 6,061 9,092 11,597 11,597 11,597 General Govt Management System 0.65 - 140 279 419 534 534 534 Urban Forestry Management System 6.72 - 1,436 2,871 4,307 5,493 5,493 5,493
78.28$ - 16,726 33,452 50,179 64,006 64,006 64,006 Community Services Per Capita - 2,172 4,399 6,679 8,638 8,746 8,848 Public Safety:
Police Services Project Specific - 68,616 136,660 215,423 282,514 290,314 298,772 Fire Services Project Specific - 32,359 89,886 141,691 185,820 190,950 196,513 Animal Control Services Per Capita - 3,134 6,347 9,636 12,462 12,618 12,765 Total Public Safety - 104,109 232,893 366,750 480,795 493,883 508,050 Total General Fund Expenditures -$ 130,276$ 285,461$ 445,952$ 582,337$ 595,894$ 610,505$ Projected Net Revenues/(Shortfall) $0 $33,771 $46,123 $60,504 $73,239 $69,407 $64,780 Population
Number of Homes
Year
Single Family Residential
Multi-Family Residential
Total (Per Capita Base)
Employment Population
Totals
Single Family Residential
Multi-Family Residential
Totals
Year
General Fund Revenues
Tax Revenues
Property Tax AV
Sales and Use Tax Per Capita
Sales and Use Tax - Project Specific Project Specific
Transient Occupancy Tax Per Capita
Property Tax In-Lieu of VLF Project Specific
Franchise Fees Per Capita
Other Taxes Per Capita
Subtotal Tax Revenues
Other Revenues Per Capita
Licenses and Permits Per Capita
Fines, forfeitures, penalties Per Capita
Use of Money & Property Per Capita
Charges for Services No Forecast
Intergovernmental Per Capita
Subtotal Other Revenues
Total General Fund Revenues
General Fund Expenditures
General Government Per Capita
Community Development (20%) Per Capita
Public Works/Engineering (20%) Per Capita
Maintenance Costs Project Specific
PC/EMP Base
Drainage Management System 26.50$
Building Management System 4.10
Parks Management System 15.68
Open Space Management System 6.72
Fleet Management System 3.73
Pavement Annual (PMP) 14.18
General Govt Management System 0.65
Urban Forestry Management System 6.72
78.28$
Community Services Per Capita
Public Safety:
Police Services Project Specific
Fire Services Project Specific
Animal Control Services Per Capita
Total Public Safety
Total General Fund Expenditures
Projected Net Revenues/(Shortfall)
Population
Number of Homes
8 9 10 11 12 13 14 15
- - - - - - - - 804 804 804 804 804 804 804 804 804 804 804 804 804 804 804 804 40 40 40 40 40 40 40 40 844 844 844 844 844 844 844 844 - - - - - - - - 287 287 287 287 287 287 287 287 287 287 287 287 287 287 287 287 8 9 10 11 12 13 14 15
250,311$ 255,317$ 260,423$ 265,632$ 270,944$ 276,363$ 281,890$ 287,528$ 143,949 147,465 151,889 156,446 161,139 165,973 170,953 176,081 - - - - - - - - 29,223 29,646 30,536 31,452 32,395 33,367 34,368 35,399 173,243 176,714 180,255 183,867 187,551 191,309 195,141 199,051 40,980 41,573 42,820 44,105 45,428 46,791 48,195 49,641 17,141 17,096 17,608 18,137 18,681 19,241 19,818 20,413 654,847 667,811 683,532 699,638 716,139 733,044 750,366 768,113 4,401 4,377 4,508 4,643 4,783 4,926 5,074 5,226 4,374 4,350 4,480 4,615 4,753 4,896 5,043 5,194 3,439 3,420 3,523 3,629 3,737 3,850 3,965 4,084 12,543 12,475 12,849 13,235 13,632 14,041 14,462 14,896 - - - - - - - - 5,926 5,894 6,071 6,253 6,440 6,634 6,833 7,038 30,682 30,516 31,431 32,374 33,345 34,346 35,376 36,437 685,528$ 698,327$ 714,963$ 732,012$ 749,484$ 767,390$ 785,742$ 804,550$ 12,942$ 13,209$ 13,524$ 13,860$ 14,202$ 14,555$ 14,919$ 15,294$ 2,559 2,611 2,674 2,740 2,808 2,878 2,949 3,024 14,462 14,761 15,113 15,488 15,871 16,265 16,671 17,090 - - - - - - - - 21,669 21,669 21,669 21,669 21,669 21,669 21,669 21,669 3,349 3,349 3,349 3,349 3,349 3,349 3,349 3,349 12,818 12,818 12,818 12,818 12,818 12,818 12,818 12,818 5,493 5,493 5,493 5,493 5,493 5,493 5,493 5,493 3,052 3,052 3,052 3,052 3,052 3,052 3,052 3,052 11,597 11,597 11,597 11,597 11,597 11,597 11,597 11,597 534 534 534 534 534 534 534 534 5,493 5,493 5,493 5,493 5,493 5,493 5,493 5,493 64,006 64,006 64,006 64,006 64,006 64,006 64,006 64,006 8,956 9,141 9,359 9,591 9,828 10,072 10,324 10,583 306,991 314,666 322,532 330,596 338,861 347,332 356,015 364,916 201,919 207,252 212,793 218,373 224,742 231,530 238,476 245,630 12,921 13,188 13,502 13,837 14,179 14,532 14,895 15,269 521,831 535,105 548,828 562,806 577,782 593,394 609,386 625,815 624,755$ 638,834$ 653,504$ 668,490$ 684,496$ 701,169$ 718,255$ 735,811$ $60,773 $59,494 $61,460 $63,522 $64,988 $66,221 $67,487 $68,739 Year
Single Family Residential
Multi-Family Residential
Total (Per Capita Base)
Employment Population
Totals
Single Family Residential
Multi-Family Residential
Totals
Year
General Fund Revenues
Tax Revenues
Property Tax AV
Sales and Use Tax Per Capita
Sales and Use Tax - Project Specific Project Specific
Transient Occupancy Tax Per Capita
Property Tax In-Lieu of VLF Project Specific
Franchise Fees Per Capita
Other Taxes Per Capita
Subtotal Tax Revenues
Other Revenues Per Capita
Licenses and Permits Per Capita
Fines, forfeitures, penalties Per Capita
Use of Money & Property Per Capita
Charges for Services No Forecast
Intergovernmental Per Capita
Subtotal Other Revenues
Total General Fund Revenues
General Fund Expenditures
General Government Per Capita
Community Development (20%) Per Capita
Public Works/Engineering (20%) Per Capita
Maintenance Costs Project Specific
PC/EMP Base
Drainage Management System 26.50$
Building Management System 4.10
Parks Management System 15.68
Open Space Management System 6.72
Fleet Management System 3.73
Pavement Annual (PMP) 14.18
General Govt Management System 0.65
Urban Forestry Management System 6.72
78.28$
Community Services Per Capita
Public Safety:
Police Services Project Specific
Fire Services Project Specific
Animal Control Services Per Capita
Total Public Safety
Total General Fund Expenditures
Projected Net Revenues/(Shortfall)
Population
Number of Homes
16 17 18 19 20
- - - - - 804 804 804 804 804 804 804 804 804 804 40 40 40 40 40 844 844 844 844 844 - - - - - 287 287 287 287 287 287 287 287 287 287 16 17 18 19 20
293,279$ 299,144$ 305,127$ 311,230$ 317,454$ 181,364 186,804 192,409 198,181 204,126 - - - - - 36,461 37,555 38,681 39,842 41,037 203,039 207,106 211,255 215,486 219,803 51,130 52,664 54,244 55,871 57,547 21,025 21,656 22,306 22,975 23,664 786,297 804,930 824,022 843,585 863,632 5,383 5,544 5,711 5,882 6,058 5,350 5,510 5,676 5,846 6,021 4,206 4,333 4,463 4,597 4,734 15,343 15,803 16,277 16,765 17,268 - - - - - 7,249 7,466 7,690 7,921 8,158 37,531 38,657 39,816 41,011 42,241 823,828$ 843,586$ 863,838$ 884,596$ 905,873$ 15,678$ 16,068$ 16,467$ 16,899$ 17,330$ 3,099 3,177 3,256 3,341 3,426 17,519 17,955 18,402 18,884 19,366 - - - - - 21,669 21,669 21,669 21,669 21,669 3,349 3,349 3,349 3,349 3,349 12,818 12,818 12,818 12,818 12,818 5,493 5,493 5,493 5,493 5,493 3,052 3,052 3,052 3,052 3,052 11,597 11,597 11,597 11,597 11,597 534 534 534 534 534 5,493 5,493 5,493 5,493 5,493 64,006 64,006 64,006 64,006 64,006 10,849 11,119 11,395 11,694 11,992 374,039 383,390 392,974 402,799 412,869 252,999 260,589 268,407 276,459 284,753 15,652 16,042 16,441 16,871 17,302 642,690 660,020 677,822 696,129 714,924 753,841$ 772,344$ 791,348$ 810,951$ 831,044$ $69,986 $71,242 $72,490 $73,645 $74,829
Year 1 2 3 4 5 6 7
Property Tax Analysis
Residential Units
Single Family Residential
Total Cumulative SFR Units -
Total Cumulative Residents 2.80 - - - - - - - Percentage Complete
Constructed Assessed Values $0 $0 $0 $0 $0 $0 $0
Multi-Family Residential - Attached Townhomes
Total Cumulative MFR Units 287 - 75 150 225 287 287 287 Total Cumulative Residents 2.80 - 210 420 630 804 804 804 Percentage Complete 0% 26% 52% 78% 100% 100% 100%
Constructed Assessed Values $172,944,800 $0 $45,194,634 $90,389,268 $135,583,902 $172,944,800 $172,944,800 $172,944,800 Total Cumulative Residents - 210 420 630 804 804 804 Commercial
Percentage Complete 0% 0% 0% 0% 0% 0% 0%
Constructed Assessed Values -$ -$ -$ -$ -$ -$ -$ -$ Industrial
Percentage Complete 0% 0% 0% 0% 0% 0% 0%
Constructed Assessed Values -$ -$ -$ -$ -$ -$ -$ -$ Office
Percentage Complete 0% 0% 0% 0% 0% 0% 0%
Constructed Assessed Values -$ -$ -$ -$ -$ -$ -$ -$ Hotel
Percentage Complete 0% 0% 0% 0% 0% 0% 0%
Constructed Assessed Values -$ -$ -$ -$ -$ -$ -$ -$ Constructed Assessed Values
Total Current Period Assessed Value Additions -$ 45,194,634$ 90,389,268$ 135,583,902$ 172,944,800$ 172,944,800$ 172,944,800$ Inflation Factor 2.00% 100.00% 102.00% 104.04% 106.12% 108.24% 110.41% 112.62% Total AV - Inflated $0 $46,098,527 $94,040,995 $143,882,722 $187,201,013 $190,945,034 $194,763,934 Cumulative AV (w/o Prior Years Inflation) $0 $46,098,527 $94,040,995 $143,882,722 $187,201,013 $190,945,034 $194,763,934 Prior Years AV Inflation Factor 2.00% 0.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% Prior Years AV Inflation Amount $0 $0 $0 $0 $0 $0 $0
Cumulative Residential AV - Inflated $0 $46,098,527 $94,040,995 $143,882,722 $187,201,013 $190,945,034 $194,763,934 Property Tax Revenue Estimate
Ad-Valorem 1.00% -$ 460,985$ 940,410$ 1,438,827$ 1,872,010$ 1,909,450$ 1,947,639$ Total AV Tax Due to City 12.60% $0 $58,084 $118,492 $181,292 $235,873 $240,591 $245,403
Year
Property Tax Analysis
Residential Units
Single Family Residential
Total Cumulative SFR Units
Total Cumulative Residents
Percentage Complete
Constructed Assessed Values
Multi-Family Residential - Attached Townhomes
Total Cumulative MFR Units
Total Cumulative Residents
Percentage Complete
Constructed Assessed Values
Total Cumulative Residents
Commercial
Percentage Complete
Constructed Assessed Values
Industrial
Percentage Complete
Constructed Assessed Values
Office
Percentage Complete
Constructed Assessed Values
Hotel
Percentage Complete
Constructed Assessed Values
Constructed Assessed Values
Total Current Period Assessed Value Additions
Inflation Factor
Total AV - Inflated
Cumulative AV (w/o Prior Years Inflation)
Prior Years AV Inflation Factor
Prior Years AV Inflation Amount
Cumulative Residential AV - Inflated
Property Tax Revenue Estimate
Ad-Valorem
Total AV Tax Due to City
8 9 10 11 12 13 14
- - - - - - - $0 $0 $0 $0 $0 $0 $0
287 287 287 287 287 287 287 804 804 804 804 804 804 804 100% 100% 100% 100% 100% 100% 100%
$172,944,800 $172,944,800 $172,944,800 $172,944,800 $172,944,800 $172,944,800 $172,944,800 804 804 804 804 804 804 804 0% 0% 0% 0% 0% 0% 0%
-$ -$ -$ -$ -$ -$ -$ 0% 0% 0% 0% 0% 0% 0%
-$ -$ -$ -$ -$ -$ -$ 0% 0% 0% 0% 0% 0% 0%
-$ -$ -$ -$ -$ -$ -$ 0% 0% 0% 0% 0% 0% 0%
-$ -$ -$ -$ -$ -$ -$ 172,944,800$ 172,944,800$ 172,944,800$ 172,944,800$ 172,944,800$ 172,944,800$ 172,944,800$ 114.87% 117.17% 119.51% 121.90% 124.34% 126.82% 129.36% $198,659,213 $202,632,397 $206,685,045 $210,818,746 $215,035,121 $219,335,824 $223,722,540 $198,659,213 $202,632,397 $206,685,045 $210,818,746 $215,035,121 $219,335,824 $223,722,540
2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00%
$0 $0 $0 $0 $0 $0 $0
$198,659,213 $202,632,397 $206,685,045 $210,818,746 $215,035,121 $219,335,824 $223,722,540 1,986,592$ 2,026,324$ 2,066,850$ 2,108,187$ 2,150,351$ 2,193,358$ 2,237,225$ $250,311 $255,317 $260,423 $265,632 $270,944 $276,363 $281,890 Year
Property Tax Analysis
Residential Units
Single Family Residential
Total Cumulative SFR Units
Total Cumulative Residents
Percentage Complete
Constructed Assessed Values
Multi-Family Residential - Attached Townhomes
Total Cumulative MFR Units
Total Cumulative Residents
Percentage Complete
Constructed Assessed Values
Total Cumulative Residents
Commercial
Percentage Complete
Constructed Assessed Values
Industrial
Percentage Complete
Constructed Assessed Values
Office
Percentage Complete
Constructed Assessed Values
Hotel
Percentage Complete
Constructed Assessed Values
Constructed Assessed Values
Total Current Period Assessed Value Additions
Inflation Factor
Total AV - Inflated
Cumulative AV (w/o Prior Years Inflation)
Prior Years AV Inflation Factor
Prior Years AV Inflation Amount
Cumulative Residential AV - Inflated
Property Tax Revenue Estimate
Ad-Valorem
Total AV Tax Due to City
15 16 17 18 19 20
- - - - - - $0 $0 $0 $0 $0 $0
287 287 287 287 287 287 804 804 804 804 804 804 100% 100% 100% 100% 100% 100%
$172,944,800 $172,944,800 $172,944,800 $172,944,800 $172,944,800 $172,944,800 804 804 804 804 804 804 0% 0% 0% 0% 0% 0%
-$ -$ -$ -$ -$ -$ 0% 0% 0% 0% 0% 0%
-$ -$ -$ -$ -$ -$ 0% 0% 0% 0% 0% 0%
-$ -$ -$ -$ -$ -$ 0% 0% 0% 0% 0% 0%
-$ -$ -$ -$ -$ -$ 172,944,800$ 172,944,800$ 172,944,800$ 172,944,800$ 172,944,800$ 172,944,800$ 131.95% 134.59% 137.28% 140.02% 142.82% 145.68%
$228,196,991 $232,760,931 $237,416,149 $242,164,472 $247,007,762 $251,947,917 $228,196,991 $232,760,931 $237,416,149 $242,164,472 $247,007,762 $251,947,917
2.00% 2.00% 2.00% 2.00% 2.00% 2.00%
$0 $0 $0 $0 $0 $0
$228,196,991 $232,760,931 $237,416,149 $242,164,472 $247,007,762 $251,947,917 2,281,970$ 2,327,609$ 2,374,161$ 2,421,645$ 2,470,078$ 2,519,479$ $287,528 $293,279 $299,144 $305,127 $311,230 $317,454