Attach B - DTA Draft Santa Rosa EIFD County Fiscal Impact Analysis

dta
www.FinanceDTA.com
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From:

Subject:

SUMMARY MEMORANDUM
July 5, 2024
Gabe Osborn, Economic Development Deputy Director
David Taussig, Jerry Wen, and Leni Zarate, OTA
Draft Fiscal Impact Analysis of Reflecting the Impacts of Santa Rosa Downtown Business Corridor Enhanced Infrastructure Financing District to the County of Sonoma General Fund
Please note that this memorandum, originally prepared on June 20, 2023, is based on the County's Fiscal Year 2022-23 budget information. It has not been updated to reflect any changes since June 20, 2023, including but not limited updated development projections and County budget information, or the most recent Census data available.

OTA has been engaged by the City of Santa Rosa ("City") to prepare a Fiscal Impact Analysis ("FIA") for the County of Sonoma (the "County") to fulfill the requirements of Government Code Section 53398.63 et seq. (the "EIFD Law") related to the formation of the Santa Rosa Downtown Business Corridor Enhanced Infrastructure Financing District (the "EIFD" or the "District"). Specifically, the objective of this analysis is to evaluate the recurring fiscal impacts of the loss of a portion of County's General Fund revenues generated by the Santa Rosa Downtown Business Corridor (the "SRDBC") due to the apportionment of 50% of its future property tax increment to the proposed EIFD.

Description of SRDBC
SRDBC encompasses approximately 308.017 gross acres, which are comprised of 917 parcels in the City of Santa Rosa. The EIFD itself consists of parcels generally located South of West College Avenue, West of Brookwood Drive, North of Maple Avenue and East of Wilson Street characterized by Downtown Station Area Specific Plan.

The EIFD itself consists of developed parcels within SRDBC, as well as undeveloped parcels that can potentially be developed for either residential or non-residential uses. As listed below in Table 1 and discussed in more detail in the following section of this FIA, the City anticipates that at the end of the EIFD term, the proposed EIFD will include residential uses with total assessed valuation of $1,090,165,723 and non-residential uses with total assessed valuation of $2,969,190,700. Current valuations of those land uses, as presented in 2023 dollars in Table 1, are derived using an assumed discount factor of two percent (2%) to compensate for the impacts of inflation that were inherently reflected in the escalations of the EIFD-wide assessed valuations utilized for the bonding capacity analysis included in this IFP. This discounting was necessary for this fiscal analysis because the cost of services were all stated in 2023 dollars and DT A needed to maintain consistency between the revenue and cost components of this analysis. As a result, the total projected residential dwelling unit ("DU") and non-residential building square footage ("BSF") valuations listed in Table 1 are estimated based on current valuation metrics.

Newport Beach I San Jose I San Francisco I Riverside I Dallas I Houston I Raleigh I Tampa dta
www.FinanceDTA.com
To:

From:

Subject:

Newport Beach I San Jose I San Francisco I Riverside I Dallas I Houston I Raleigh I Tampa

SUMMARY MEMORANDUM
July 5, 2024
To:

From:

Subject:

Gabe Osborn, Economic Development Deputy Director
David Taussig, Jerry Wen, and Leni Zarate, OTA
Draft Fiscal Impact Analysis of Reflecting the Impacts of Santa Rosa Downtown Business Corridor Enhanced Infrastructure Financing District to the County of Sonoma General Fund
Please note that this memorandum, originally prepared on June 20, 2023, is based on the County's Fiscal Year 2022-23 budget information. It has not been updated to reflect any changes since June 20, 2023, including but not limited updated development projections and County budget information, or the most recent Census data available.

The EIFD itself consists of developed parcels within SRDBC, as well as undeveloped parcels that can potentially be developed for either residential or non-residential uses. As listed below in Table 1 and discussed in more detail in the following section of this FIA, the City anticipates that at the end of the EIFD term, the proposed EIFD will include residential uses with total assessed valuation of $1,090,165,723 and non-residential uses with total assessed valuation of $2,969,190,700. Current valuations of those land uses, as presented in 2023 dollars in Table 1, are derived using an assumed discount factor of two percent (2%) to compensate for the impacts of inflation that were inherently reflected in the escalations of the EIFD-wide assessed valuations utilized for the bonding capacity analysis included in this IFP. This discounting was necessary for this fiscal analysis because the cost of services were all stated in 2023 dollars and OTA needed to maintain consistency between the revenue and cost components of this analysis. As a result, the total projected residential dwelling unit ("DU") and non-residential building square footage ("BSF") valuations listed in Table 1 are estimated based on current valuation metrics.

Newport Beach I San Jose I San Francisco I Riverside I Dallas I Houston I Raleigh I Tampa Table 1: SRDBC Private Development Within Boundaries of EIFD T l V l . Current Valuation (2023$) Total Res.
ota a uat1on at DU I
Land Use the End of the Per Res. DU I s
EIFD T Total Non-Res. Non-Res.
erm BSF BSF
Projected Residential Uses $1,090,165,723 $456,126,144 $200,000 2,281 Projected Non-residential Uses $2,969,190,700 $1,242,311,582 $225 5,521,385 Grand Total $4,059,356,423 $1,698,437,725 NA NA
Analytic Methodology
Notably, only recurring County revenues and costs were evaluated in this analysis. Costs that are considered non-recurring, such as capital expenditures, are excluded because new development is generally required to construct its own new capital improvements, such as roads or parks, or to pay Development Impact Fees ("DIFs") that enable the County or some other developer to construct these improvements. As these are "one-time" costs that will not recur, there is no expectation that new development will need to pay for these capital expenditures a second time. Similarly, revenues that are considered to be non-recurring, such as DIFs paid by developers, are also excluded from the model. In sum, the model reflects the estimated recurring annual fiscal deficit or surplus to the County's General Fund that will result from the development of the EIFD.

The FIA utilizes two specific methods of analysis; the Per Capita/Multiplier Approach and the Case Study Approach. The primary Multiplier Methodology used is the Per Capita/Persons Served Methodology, which recognizes the fact that the exact relationship of service demands and revenue generating potential between residents and employees is difficult to quantify. The "Persons Served" population for this FIA is assumed to be comprised of all residents plus 50% of the employees working in the Unincorporated County, which is a common fiscal assumption utilized in quantifying the impact of a new development on the need for services in a given service area. This standard is an outgrowth of the theoretical eight hours per day than an employee works in a jurisdiction versus the sixteen waking hours per day that a resident spends living within that jurisdiction.

The Per Capita/Multiplier Methodology involves calculating the average revenues/costs per Capita/Persons Served throughout the entire Unincorporated County utilizing the fiscal year ("FY") 2022-2023 County Budget and applying these revenue/cost factors to the numbers of Persons Served that are anticipated to reside or work within the SRDBC. The primary challenge in evaluating the County budget for the average cost calculation is to assess whether the County is providing a specific service on a Countywide basis, or only on an Unincorporated County basis. For services that are provided on a Countywide basis, such as health services and the court system, the County's costs per Person Served within the SRDBC are based on the total costs of the County expended on Persons Served throughout the entire County. On the other hand, services that are provided only in the Unincorporated County, such as sheriff and fire protection expenditures, are excluded from the analysis because the County won't be providing these services to the SRDBC because it is entirely located within incorporated Santa Rosa ..

City of Santa Rosa Original date prepared June 20;JOi
~seal Impact Report Reflecting the Impacts of SRDBC eIFD to the County's Genernl Fund Today's Date July 5, 202/ 2 Table 1: SRDBC Private Development Within Boundaries of EIFD T l V l . Current Valuation (2023$) Total Res.
ota a uat1on at DU I
Land Use the End of the Per Res. DU I s
EIFD T Total Non-Res. Non-Res.
erm BSF BSF
Projected Residential Uses $1,090,165,723 $456,126,144 $200,000 2,281 Projected Non-residential Uses $2,969,190,700 $1,242,311,582 $225 5,521,385 Grand Total $4,059,356,423 $1,698,437,725 NA NA
Analytic Methodology
Notably, only recurring County revenues and costs were evaluated in this analysis. Costs that are considered non-recurring, such as capital expenditures, are excluded because new development is generally required to construct its own new capital improvements, such as roads or parks, or to pay Development Impact Fees ("DIFs") that enable the County or some other developer to construct these improvements. As these are "one-time" costs that will not recur, there is no expectation that new development will need to pay for these capital expenditures a second time. Similarly, revenues that are considered to be non-recurring, such as DIFs paid by developers, are also excluded from the model. In sum, the model reflects the estimated recurring annual fiscal deficit or surplus to the County's General Fund that will result from the development of the EIFD.

City of Santa Rosa Original date prepared June 20;JOi
~seal Impact Report Reflecting the Impacts of SRDBC eIFD to the County's Genernl Fund Today's Date July 5, 202/ 2 Table 1: SRDBC Private Development Within Boundaries of EIFD Land Use
Projected Residential Uses
Projected Non-residential Uses
Grand Total
Total Valuation at
the End of the
EIFDTerm
$1,090,165,723
$2,969,190,700
$4,059,356.423
Current Valuation (2023$)
Per Res. DU /
Total Non-Res.

BSF
$456,126,144 $200,000
$1,242,311,582 $225
$1,698,437,725 NA
Total Res.

DUs/
Non-Res.

BSF
2,281
5,521,385
NA
Analytic Methodology
Notably, only recurring County revenues and costs were evaluated in this analysis. Costs that are considered non-recurring, such as capital expenditures, are excluded because new development is generally required to construct its own new capital improvements, such as roads or parks, or to pay Development Impact Fees ("DIFs") that enable the County or some other developer to construct these improvements. As these are "one-time" costs that will not recur, there is no expectation that new development will need to pay for these capital expenditures a second time. Similarly, revenues that are considered to be non-recurring, such as DIFs paid by developers, are also excluded from the model. In sum, the model reflects the estimated recurring annual fiscal deficit or surplus to the County's General Fund that will result from the development of the EIFD.

City of Santa Rosa Original date prepared June 20,102
Fiscal Impact Report Reflecting the Impacts of SRDBC EIFD to the County's General Fund Today's Date July 5, 2024 2 Major Assumptions
DT A chose its analytical assumptions for its FIA in accordance with industry standards and documents those assumptions carefully. The following list explains how the major assumptions employed in the FIA were derived:
■ Discounting Revenues: As listed in Attachment 1-A, OTA conservatively assumed that non-tax General Fund revenues are deemed to be static, i.e., these revenues are not expected to increase with new development.
■ Discounting Expenditures: Certain service costs are not expected to increase one-toone with new development. Thus, a 15% discount rate is applied to all other NonGeneral Government expenditures provided on a Countywide basis, as reflected in Attachment 1-B. In addition, the marginal increase in the general government overhead costs associated with the additional non-general government expenditures incurred by new development is assumed to be 75%, which means a 25% discount was applied to these overhead costs, as listed in Attachment 1-G. ■ Total Valuation at the end of EIFD term: The total valuation of residential land uses at the end of the 45-year EIFD term is estimated at $1.09 billion based on the current assessed valuation of $179.5 million and an assumed four percent (4%) annual increase due to the combined effect of new development, the sales of existing development, and the two percent (2%) annual valuation escalator authorized by Proposition 13 throughout the term of the EIFD. In contrast, OTA conservatively applied a three percent (3%) annual increase in estimating the total valuation of non-residential land uses at the end of the 45-year EIFD term. The rationale for assuming a slightly lower annual valuation escalator is that non-residential property has a lower turnover rate than residential property, in conjunction with the City's projection that most of the new developments in SRDBC will be of residential land uses. The total valuation of non-residential land uses at the end of the 45-year EIFD term is estimated at $2.97 billion based on the current assessed valuation of $762.3 million and a three percent (3%) annual increase, resulting in the total valuation of $4.06 billion for the SRDBC. ■ Tax Sharing (Secured Property Taxes): Property tax revenue estimates for the County are based on apportionment factors provided by the County Auditor-Controller.

Property tax revenues are projected based on the County's estimated share of the general 1% property tax levy. Total secured property tax revenues received by the County from the proposed Projects will equal approximately 19.83% of the basic 1% (Proposition 13) property tax levy from the Tax Rate Areas ("TRAs") encompassing SRDBC. Please note that the gross tax increment, as calculated by the County AuditorController, has been reduced to account for the projected Education Revenue Augmentation Fund ("ERAF") property tax shifts.
■ Persons per Household: Pursuant to Report E-5 (Population and Housing Estimates for Cities, Counties, and the State, January 1, 2011-2023, with 2010 Benchmark) dated January 1, 2023, and published by Demographic Research Unit of the California Department of Finance, the estimated persons per household is 2.516 for the City as of January 1, 2023. Based on this assumption, SRDBC is anticipated to comprise a total of 5,739 residents at the end of the EIFD term.

City of Santa Rosa Original date prepared June 20;JOi
~seal Impact Report Reflecting the Impacts of SRDBC eIFD to the County's Genernl Fund Today's Date July 5, 202/ 3 Major Assumptions
DT A chose its analytical assumptions for its FIA in accordance with industry standards and documents those assumptions carefully. The following list explains how the major assumptions employed in the FIA were derived:
■ Discounting Revenues: As listed in Attachment 1-A, OTA conservatively assumed that non-tax General Fund revenues are deemed to be static, i.e., these revenues are not expected to increase with new development.
■ Discounting Expenditures: Certain service costs are not expected to increase one-toone with new development. Thus, a 15% discount rate is applied to all other NonGeneral Government expenditures provided on a Countywide basis, as reflected in Attachment 1-B. In addition, the marginal increase in the general government overhead costs associated with the additional non-general government expenditures incurred by new development is assumed to be 75%, which means a 25% discount was applied to these overhead costs, as listed in Attachment 1-G. ■ Total Valuation at the end of EIFD term: The total valuation of residential land uses at the end of the 45-year EIFD term is estimated at $1.09 billion based on the current assessed valuation of $179.5 million and an assumed four percent (4%) annual increase due to the combined effect of new development, the sales of existing development, and the two percent (2%) annual valuation escalator authorized by Proposition 13 throughout the term of the EIFD. In contrast, OTA conservatively applied a three percent (3%) annual increase in estimating the total valuation of non-residential land uses at the end of the 45-year EIFD term. The rationale for assuming a slightly lower annual valuation escalator is that non-residential property has a lower turnover rate than residential property, in conjunction with the City's projection that most of the new developments in SRDBC will be of residential land uses. The total valuation of non-residential land uses at the end of the 45-year EIFD term is estimated at $2.97 billion based on the current assessed valuation of $762.3 million and a three percent (3%) annual increase, resulting in the total valuation of $4.06 billion for the SRDBC. ■ Tax Sharing (Secured Property Taxes): Property tax revenue estimates for the County are based on apportionment factors provided by the County Auditor-Controller.

City of Santa Rosa Original date prepared June 20;JOi
~seal Impact Report Reflecting the Impacts of SRDBC eIFD to the County's Genernl Fund Today's Date July 5, 202/ 3 Major Assumptions
OTA chose its analytical assumptions for its FIA in accordance with industry standards and documents those assumptions carefully. The following list explains how the major assumptions employed in the FIA were derived:
■ Discounting Revenues: As listed in Attachment 1-A, OTA conservatively assumed that non-tax General Fund revenues are deemed to be static, i.e., these revenues are not expected to increase with new development.
■ Discounting Expenditures: Certain service costs are not expected to increase one-toone with new development. Thus, a 15% discount rate is applied to all other NonGeneral Government expenditures provided on a Countywide basis, as reflected in Attachment 1-B. In addition, the marginal increase in the general government overhead costs associated with the additional non-general government expenditures incurred by new development is assumed to be 75%, which means a 25% discount was applied to these overhead costs, as listed in Attachment 1-G. ■ Total Valuation at the end of EIFD term: The total valuation of residential land uses at the end of the 45-year EIFD term is estimated at $1.09 billion based on the current assessed valuation of $179.5 million and an assumed four percent (4%) annual increase due to the combined effect of new development, the sales of existing development, and the two percent (2%) annual valuation escalator authorized by Proposition 13 throughout the term of the EIFD. In contrast, OTA conservatively applied a three percent (3%) annual increase in estimating the total valuation of non-residential land uses at the end of the 45-year EIFD term. The rationale for assuming a slightly lower annual valuation escalator is that non-residential property has a lower turnover rate than residential property, in conjunction with the City's projection that most of the new developments in SRDBC will be of residential land uses. The total valuation of non-residential land uses at the end of the 45-year EIFD term is estimated at $2.97 billion based on the current assessed valuation of $762.3 million and a three percent (3%) annual increase, resulting in the total valuation of $4.06 billion for the SRDBC. • Tax Sharing (Secured Property Taxes): Property tax revenue estimates for the County are based on apportionment factors provided by the County Auditor-Controller.

City of Santa Rosa Original date prepared June 20,102
Fisral Impact Report Renecling the Impac/s of SRDBC EIFD to /he Counly's Genernl Fund Today's Dale July 5, 202 3 ■ Direct Employees: OTA estimated the number of direct employees generated by the non-residential development in SRDBC based upon an average number of Square Feet per Employee ("SF/E"). Pursuant to City data, the average SF/E within the Santa Rosa Downtown Station Area is estimated at 614 square per employee based on 8,432 jobs and 5,176,748 BSF of non-residential land use space. Based on this estimated SF/E, the non-residential development in SRDBC is anticipated to generate a total of 8,992 direct employees at the end of EIFD term.

County General Fund - Net Fiscal Impact Summary
As reflected in Table 2 below, the positive net fiscal impact of SRDBC, given the approval of the EIFD, is estimated to be $214,126 at the end of EIFD term in 2023 dollars, based on $3,577,104 in fiscal revenues, $2,612,721 in fiscal costs, and the proposed EIFD property tax share equal to $750,258 (reflecting 50% of the net incremental secured property tax revenues of $1,500,515). It is assumed that the County will retain its 2% administration fees, totaling $30,010, from the $750,258 gross increments pledged to the EIFD. The County will remit the remaining amount to the EIFD.

Table 2: General Fund Net Fiscal Impact Conclusions for SRDBC at the End of EIFD Term Fiscal Impact Category Amount/Ratio
Gross Recurring General Fund Revenues $3,577,104
Less: EIFD property tax and in-lieu VLF share ($750,258) Net Recurring General Fund Revenues $2,826,847
Recurring General Fund Expenditures $2,612,721
Total Annual Recurring General Fund Surplus/(Deficit) $214,126 Total Annual Revenue/Expenditure Ratio 1.08
A more detailed breakdown of the revenues and costs in 2023 dollars is listed in Table 3 below.

City of Santa Rosa Original date prepared June 20;JOi
~seal Impact Report Reflecting the Impacts of SRDBC eIFD to the County's Genernl Fund Today's Date July 5, 202/ 4 ■ Direct Employees: OTA estimated the number of direct employees generated by the non-residential development in SRDBC based upon an average number of Square Feet per Employee ("SF/E"). Pursuant to City data, the average SF/E within the Santa Rosa Downtown Station Area is estimated at 614 square per employee based on 8,432 jobs and 5,176,748 BSF of non-residential land use space. Based on this estimated SF/E, the non-residential development in SRDBC is anticipated to generate a total of 8,992 direct employees at the end of EIFD term.

City of Santa Rosa Original date prepared June 20;JOi
~seal Impact Report Reflecting the Impacts of SRDBC eIFD to the County's Genernl Fund Today's Date July 5, 202/ 4 • Direct Employees: OTA estimated the number of direct employees generated by the non-residential development in SRDBC based upon an average number of Square Feet per Employee ("SF/E"). Pursuant to City data, the average SF/E within the Santa Rosa Downtown Station Area is estimated at 614 square per employee based on 8,432 jobs and 5,176,748 BSF of non-residential land use space. Based on this estimated SF/E, the non-residential development in SRDBC is anticipated to generate a total of 8,992 direct employees at the end of EIFD term.

Table 2: General Fund Net Fiscal Impact Conclusions for SRDBC at the End of EIFD Term Fiscal Impact Category Amount/Ratio I
Gross Recurring General Fund Revenues $3,577,104
Less: £IFD property tax and in-lieu VLF share ($750,258) Net Recurring General Fund Revenues $2,826,847
Recurring General Fund Expenditures $2,612,721
Total Annual Recurring General Fund Surplus/(Deficit) $214,126 Total Annual Revenue/Expenditure Ratio 1.08
A more detailed breakdown of the revenues and costs in 2023 dollars is listed in Table 3 below.

City of Santa Rosa Original date prepared June 20,102
Fiscal Impact Report Reflecting the Impacts of SRDBC £!FD to the County's General Fund Today's Date July 5, 2024 4 Table 3: General Fund Net Fiscal Impact Summary for SRDBC at the End of EIFD Term Rect.ming General Fund Revenues (1)
Secured Property Tax $2,617,780
Unsecured Property Tax $148,050
Property Transfer Tax $59,251
Investment Income $1,766
Subtotal $2,826,847
Rect.ming General Fund Expenditures (2)
Court Support/Grand Jury $116,879
Department of Health Services $109,305
District Attorney $251,770
Emergency Management $34,491
Human Services $357,903
Agricultural Commissioner $30,294
Probation $464,240
Public Defender $165,186
Regional Parks $61,305
UC Cooperative Extension $15,454
Employee Programs $60,896
Deferred Maintenance Fund $284,930
Capital Proj ect Plan Contribution $70,516
Water Security Fund $64,068
Road Operations and Pavement Program $193,638
General Government $331,846
Subtotal $2,612,721
Net Fiscal Impact
Total Annual Recurring General Fund Surplus/(Deficit} $214,126 Total Annual Revenue/Expenditure Ratio 1.08
NOTES:
111 Please see Attachments 1-D and 1-E for the derivation of these calculations. 121 Please see Attachments 1-F and 1-G for the derivation of these calculations. * All figures subject to rounding

92.60%

5.24%

2.10%

0.06%
100.00%

4.47%

4.18%

9.64%

1.32%

13.70%

1.16%

17.77%

6.32%

2.35%

0.59%

2.33%

10.91%

2.70%

2.45%

7.41%

12.70%
100.00%
NA
NA
As reflected in Figure 1 below, the largest projected County General Fund revenue source attributable to SRDBC at the end of the EIFD term is secured property taxes (92.60%).

Conversely, the largest projected County General Fund expenditures will be for probation (17.77%), human services (13.70%), and deferred maintenance (10.91%), as depicted in Figure 2 below.

City of Santa Rosa Original date prepared June 20;JOi
~seal Impact Report Reflecting the Impacts of SRDBC eIFD to the County's Genernl Fund Today's Date July 5, 202/ S Table 3: General Fund Net Fiscal Impact Summary for SRDBC at the End of EIFD Term Rect.ming General Fund Revenues (1)
Secured Property Tax $2,617,780
Unsecured Property Tax $148,050
Property Transfer Tax $59,251
Investment Income $1,766
Subtotal $2,826,847
Rect.ming General Fund Expenditures (2)
Court Support/Grand Jury $116,879
Department of Health Services $109,305
District Attorney $251,770
Emergency Management $34,491
Human Services $357,903
Agricultural Commissioner $30,294
Probation $464,240
Public Defender $165,186
Regional Parks $61,305
UC Cooperative Extension $15,454
Employee Programs $60,896
Deferred Maintenance Fund $284,930
Capital Proj ect Plan Contribution $70,516
Water Security Fund $64,068
Road Operations and Pavement Program $193,638
General Government $331,846
Subtotal $2,612,721
Net Fiscal Impact
Total Annual Recurring General Fund Surplus/(Deficit} $214,126 Total Annual Revenue/Expenditure Ratio 1.08
NOTES:
111 Please see Attachments 1-D and 1-E for the derivation of these calculations. 121 Please see Attachments 1-F and 1-G for the derivation of these calculations. * All figures subject to rounding

92.60%

5.24%

2.10%

0.06%
100.00%

4.47%

4.18%

9.64%

1.32%

13.70%

1.16%

17.77%

6.32%

2.35%

0.59%

2.33%

10.91%

2.70%

2.45%

7.41%

12.70%
100.00%
NA
NA
As reflected in Figure 1 below, the largest projected County General Fund revenue source attributable to SRDBC at the end of the EIFD term is secured property taxes (92.60%).

Conversely, the largest projected County General Fund expenditures will be for probation (17.77%), human services (13.70%), and deferred maintenance (10.91%), as depicted in Figure 2 below.

92.60%

5.24%

2.10%

0.06%
100.00%

4.47%

4.18%

9.64%

1.32%

13.70%

1.16%

17.77%

6.32%

2.35%

0.59%

2.33%

10.91%

2.70%

2.45%

7.41%

12.70%
100.00%
NA
NA
As reflected in Figure 1 below, the largest projected County General Fund revenue source attributable to SRDBC at the end of the EIFD term is secured property taxes (92.60%).

Conversely, the largest projected County General Fund expenditures will be for probation (17.77%), human services (13.70%), and deferred maintenance (10.91%), as depicted in Figure 2 below.

City of Santa Rosa Original date prepared June 20;JOi
~seal Impact Report Reflecting the Impacts of SRDBC eIFD to the County's Genernl Fund Today's Date July 5, 202/ S Table 3: General Fund Net Fiscal Impact Summary for SRDBC at the End of EIFD Term Fiscal Impact Category Amount
- . - - - - - - ' - ·--- -
Secured Property Tax $2,617,780
Unsecured Property Tax $148,050
Property Transfer Tax $59,251
Investment Income $1,766
Subtotal $2,826,847
General Fund (2)
Court Support/Grand Jury $116,879
Department of Health SeTVices $109,305
District Attorney $251,770
Emergency Management $34,491
Human SeTVices $357,903
Agricultural Commissioner $30,294
Probation $464,240
Public Defender $165,186
Regional Parks $61,305
UC Cooperative Extension $15,454
Employee Programs $60,896
Deferred Maintenance Fund $284,930
Capital Project Plan Contribution $70,516
Water Security Fund $64,068
Road Operations and Pavement Program $193,638
General Government $331,846
Subtotal $2,612,721
Net Fiscal.._..

Total Annual Recurring General Fund Surplus/(Deficit) $214,126 Total Annual Revenue/Expenditure Ratio 1.08
PeTcent of Total

92.60%

5.24%

2.10%

0.06%
100.00%

4.47%

4.18%

9.64%

1.32%

13.70%

1.16%

17.77%

6.32%

2.35%

0.59%

2.33%

10.91%

2.70%

2.45%

7.41%

12.70%
100.00%
NA
NA
NOTES:
(1) Please see Attachments 1-D and 1-E for the derivation of these calculations. 121 Please see Attachments 1-F and 1-G for the derivation of these calculations. * All figures subject to rounding
As reflected in Figure 1 below, the largest projected County General Fund revenue source attributable to SRDBC at the end of the EIFD term is secured property taxes (92.60%).

Conversely, the largest projected County General Fund expenditures will be for probation (17.77%), human services (13.70%), and deferred maintenance (10.91%), as depicted in Figure 2 below.

City of Santa Rosa Original date prepared June 20,1
02 Fisral Impact Report Renecling the Impac/s of SRDBC EIFD to /he Counly's Genernl Fund Today's Dale July S, 202 S
Figure 1: Recurring General Fund Revenues at the End of EIFD Term Secured
Investment
Income--
$1,766
Property Tax
---- $2,617,780

92.60%
O.OG% Property
Transfer Tax
$59,251

2.10%
Unsecured
Property Tax
$148,050

5.24%
Figure 2: Recurring General Fund Expenditures at the End of EIFD Term Human
Services
$357,903
Agricultural Probation
Commissioner $464,240
Public
Defender
$165,186

6.32%
$30,294 17.77%

13.70%
Emergency
Management
$34,491

1.32%
District Attorney
$251,770

9.64%
4 .18%
Court
Support/Grand
Jury
$116,879

4.47%
General
Government
$331,846

12.70%
Regional
Parks
$61,305

2.35%
UC Cooperative Extension
$15,454

0.59%
Employee Programs
$60,896

2.33%
Deferred Maintenance Fund
~ - $284,930

10.91%
, --------Capital Project Plan Contribution
~ $70,516

2.70%
Water Security Fund
$64,068

2.45%
Road Operations and Pavement
Program
$193,638

7.41%
If you have any further questions regarding this Executive Summary or the attached analysis, please feel free to contact us at (800) 969-4DTA.

Enclosures:

92.60%
O.OG% Property
Transfer Tax
$59,251

2.10%
Unsecured
Property Tax
$148,050

5.24%
Figure 2: Recurring General Fund Expenditures at the End of EIFD Term Human
Services
$357,903
Agricultural Probation
Commissioner $464,240
Public
Defender
$165,186

6.32%
$30,294 17.77%

13.70%
Emergency
Management
$34,491

1.32%
District Attorney
$251,770

9.64%
4 .18%
Court
Support/Grand
Jury
$116,879

4.47%
General
Government
$331,846

12.70%
Regional
Parks
$61,305

2.35%
UC Cooperative Extension
$15,454

0.59%
Employee Programs
$60,896

2.33%
Deferred Maintenance Fund
~ - $284,930

10.91%
, --------Capital Project Plan Contribution
~ $70,516

2.70%
Water Security Fund
$64,068

2.45%
Road Operations and Pavement
Program
$193,638

7.41%
If you have any further questions regarding this Executive Summary or the attached analysis, please feel free to contact us at (800) 969-4DTA.

Enclosures:

92.60%
O.OG% Property
Transfer Tax
$59,251

2.10%
Unsecured
Property Tax
$148,050

5.24%
Figure 2: Recurring General Fund Expenditures at the End of EIFD Term Human
Services
$357,903
Agricultural Probation
Commissioner $464,240
Public
Defender
$165,186

6.32%
$30,294 17.77%

13.70%
Emergency
Management
$34,491

1.32%
District Attorney
$251,770

9.64%
4 .18%
Court
Support/Grand
Jury
$116,879

4.47%
General
Government
$331,846

12.70%
Regional
Parks
$61,305

2.35%
UC Cooperative Extension
$15,454

0.59%
Employee Programs
$60,896

2.33%
Deferred Maintenance Fund
~ - $284,930

10.91%
, --------Capital Project Plan Contribution
~ $70,516

2.70%
Water Security Fund
$64,068

2.45%
Road Operations and Pavement
Program
$193,638

7.41%
If you have any further questions regarding this Executive Summary or the attached analysis, please feel free to contact us at (800) 969-4DTA.

Enclosures:

92.60%
O.OG% Property
Transfer Tax
$59,251

2.10%
Unsecured
Property Tax
$148,050

5.24%
Figure 2: Recurring General Fund Expenditures at the End of EIFD Term Human
Services
$357,903
Agricultural Probation
Commissioner $464,240
Public
Defender
$165,186

6.32%
$30,294 17.77%

13.70%
Emergency
Management
$34,491

1.32%
District Attorney
$251,770

9.64%
4 .18%
Court
Support/Grand
Jury
$116,879

4.47%
General
Government
$331,846

12.70%
Regional
Parks
$61,305

2.35%
UC Cooperative Extension
$15,454

0.59%
Employee Programs
$60,896

2.33%
Deferred Maintenance Fund
~ - $284,930

10.91%
, --------Capital Project Plan Contribution
~ $70,516

2.70%
Water Security Fund
$64,068

2.45%
Road Operations and Pavement
Program
$193,638

7.41%
If you have any further questions regarding this Executive Summary or the attached analysis, please feel free to contact us at (800) 969-4DTA.

Enclosures:

92.60%
O.OG% Property
Transfer Tax
$59,251

2.10%
Unsecured
Property Tax
$148,050

5.24%
Figure 2: Recurring General Fund Expenditures at the End of EIFD Term Human
Services
$357,903
Agricultural Probation
Commissioner $464,240
Public
Defender
$165,186

6.32%
$30,294 17.77%

13.70%
Emergency
Management
$34,491

1.32%
District Attorney
$251,770

9.64%
4 .18%
Court
Support/Grand
Jury
$116,879

4.47%
General
Government
$331,846

12.70%
Regional
Parks
$61,305

2.35%
UC Cooperative Extension
$15,454

0.59%
Employee Programs
$60,896

2.33%
Deferred Maintenance Fund
~ - $284,930

10.91%
, --------Capital Project Plan Contribution
~ $70,516

2.70%
Water Security Fund
$64,068

2.45%
Road Operations and Pavement
Program
$193,638

7.41%
If you have any further questions regarding this Executive Summary or the attached analysis, please feel free to contact us at (800) 969-4DTA.

Enclosures:

1. Attachment 1 - FIA for Santa Rosa Downtown Business Corridor EIFD City of Santa Rosa Original date prepared June 20;JOi
~seal Impact Report Reflecting the Impacts of SRDBC eIFD to the County's Genernl Fund Today's Date July 5, 202/ 6 Figure 1: Recurring General Fund Revenues at the End of EIFD Term Secured
Figure 2: Recurring General Fund Expenditures at the End of EIFD Term If you have any further questions regarding this Executive Summary or the attached analysis, please feel free to contact us at (800) 969-4DTA.

Enclosures:

1. Attachment 1 - FIA for Santa Rosa Downtown Business Corridor EIFD City of Santa Rosa Original date prepared June 20,102
Fisral Impact Report Renecling the Impac/s of SRDBC EIFD to /he Counly's Genernl Fund Today's Dale July 5, 2024 6 ATTACHMENT 1
City of Santa Rosa
Fiscal Impact Report Reflecting the Impacts of SRDBC EIFD to County's General Fund

FIA FOR SANTA ROSA

DOWNTOWN BUSINESS

CORRIDOR EIFD
ATTACHMENT 1
City of Santa Rosa
Fiscal Impact Report Reflecting the Impacts of SRDBC EIFD to County's General Fund � FIA FOR SANTA ROSA

DOWNTOWN BUSINESS

CORRIDOR EIFD
ATTACHMENT 1-A
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

COUNTY OF SONOMA GENERAL FUND REVENUES (BY TYPE)
Demographics and Other Data
A Countywide
2023 Estimated Population 111
2023 Estimated Employees 121
2023 Persons Served Population [31
B Unincorporated
2023 Estimated Population 111
2023 Estimated Employees 121
2023 Persons Served Population [31
478,174
241,500
598,924
130,991
52,700
157,341
111 California Department of Finance, Housing and Population Information, January 1, 2023. 121 California Employment Development Department, Monthly Labor Force Data for Cities and Census Designated Places (CDP), April 2023 - Preliminary.
[31 Assumes population plus 50% of employees.

II Recurring County General Fund Revenue Sources (by Type) Total Revenue Fiscal Impact Fiscal Impact Revenue Type Revenues Type Jurisdiction Basis Fiscal Impact
Discount Revenue
Factor -------------------------------------------------------- Tax Revenue Persons Served $0.00
Property Taxes $294,578,277 Recurring Unincorporated Case Study NA NA Sales and Use Taxes $25,723,283 Recurring Unincorporated Case Study NA NA Teeter Prop Tax Penalties $7,607,587 Recurring Unincorporated Case Study NA NA RDA $10,000,000 Recurring Unincorporated Case Study NA NA Property Tax Admin Fees $2,850,000 Recurring Countywide Case Study NA NA State Homeowners Property Tax Relief $1,205,706 Recurring Unincorporated Case Study NA NA Property Transfer Taxes $7,973,454 Recurring Countywide Case Study NA NA Transient Occupancy Taxes $6,072,275 Recurring Unincorporated Case Study NA NA Franchise Fees $3,400,000 Recurring Unincorporated Persons Served 100% $0.00 Interest Income $3,167,330 Recurring NA Case Study NA NA Tribal Mitigation Reimbursement $1,485,262 Recurring NA NA NA NA Reinvestment and Revitalization Fund $8,482,877 Recurring NA NA NA NA Federal Geothermal $1,800,000 Recurring NA NA NA NA
Other Government Agencies $354,000 Recurring NA NA NA NA Countywide Cost Allocation Plan $12,571,809 Recurring NA NA NA NA Other/ Miscellaneous $550,703 Recurring NA NA NA NA
Total Recurring Revenues $387,822,563 NA NA NA NA NA
ATTACHMENT 1-A
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

COUNTY OF SONOMA GENERAL FUND REVENUES (BY TYPE)
Demographics and Other Data
A Countywide
2023 Estimated Population 111
2023 Estimated Employees 121
2023 Persons Served Population [31
B Unincorporated
2023 Estimated Population 111
2023 Estimated Employees 121
2023 Persons Served Population [31
No1e.s.. No1e.s..:.
478,174
241,500
598,924
130,991
52,700
157,341
111 California Department of Finance, Housing and Population Information, January 1, 2023. 121 California Employment Development Department, Monthly Labor Force Data for Cities and Census Designated Places (CDP), April 2023 - Preliminary.
[31 Assumes population plus 50% of employees.

II Recurring County General Fund Revenue Sources (by Type) ■ Total I Revenue Type Revenues
Tax Revenue
Property Taxes $294,578,277
Sales and Use Taxes $25,723,283
Teeter Prop Tax Penalties $7,607,587
RDA $10,000,000
Property Tax Admin Fees $2,850,000
State Homeowners Property Tax Relief $1,205,706
Property Transfer Taxes $7,973,454
Transient Occupancy Taxes $6,072,275
Franchise Fees $3,400,000
Interest Income $3,167,330
Tribal Mitigation Reimbursement $1,485,262
Reinvestment and Revitalization Fund $8,482,877
Federal Geothermal $1,800,000
Other Government Agencies $354,000
Countywide Cost Allocation Plan $12,571,809
Other / Miscellaneous $550,703
Total Recurring Revenues $387,822,563
Revenue I: Ftscal Impact
Type Jurisdiction
Recurring Unincorporated
Recurring Unincorporated
Recurring Unincorporated
Recurring Unincorporated
Recurring Countywide
Recurring Unincorporated
Recurring Countywide
Recurring Unincorporated
Recurring Unincorporated
Recurring NA
Recurring NA
Recurring NA
Recurring NA
Recurring NA
Recurring NA
Recurring NA
NA NA
Fiscal Impact
Basts
Persons Served
Case Study
Case Study
Case Study
Case Study
Case Study
Case Study
Case Study
Case Study
Persons Served
Case Study
NA
NA
NA
NA
NA
NA
NA
I- I
; Fiscal Impact
Discount Revenue
FactOT
$0.00
NA NA
NA NA
NA NA
NA NA
NA NA
NA NA
NA NA
NA NA
100% $0.00
NA NA
NA NA
NA NA
NA NA
NA NA
NA NA
NA NA
NA NA
ATTACHMENT 1-B
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

COUNTY OF SONOMA GENERAL FUND EXPENDITURES (BY TYPE)
Demographics and Other Data
Countywjde
2023 Estimated Population (11
2023 Estimated Employees (21
2023 Persons Served Population (31
Unincorporated
2023 Estimated Population (11
2023 Estimated Employees 121
2023 Persons Served Population (31
Notes;_
478,174
241,500
598,924
130,991
52,700
157,341
[11 California Department of Finance, Housing and Population Information, January 1, 2023. [21 California Employment Development Department, Monthly Labor Force Data for Cities and Census Designated Places (CDP), April 2023 - Preliminary.
[31 Assumes population plus 50% of employees.

II Recurring County General Fund Expenditures (by Type) Total Expenditure Fiscal Impact Fiscal Impact Expenditure Type Expenditures Type Jurisdiction Basis Fiscal Impact
Discount Expenditure
Factor --------------------------------------------------------- General Government
County Administrator/Board of Supervisors $10,868,868 Recurring Countywide Case Study NA NA County Counsel $1,050 Recurring Countywide Case Study NA NA General Services $19,876,505 Recurring Countywide Case Study NA NA Human Resources $10,338,776 Recurring Countywide Case Study NA NA Independent Office of Law Enforcement Review $2,020,415 Recurring Unincorporated Case Study NA NA Information Systems $1,553,883 Recurring Unincorporated Case Study NA NA Office of Equity $958,318 Recurring Unincorporated Case Study NA NA Auditor-Controller-Treasurer-Tax Collector $6,421,842 Recurring Countywide Case Study NA NA Clerk-Recorder-Assessor $14,801,496 Recurring Countywide Case Study NA NA Board of Supervisors Contingency $4,583,709 Recurring Countywide Case Study NA NA Non-General Government
Court Support/Grand Jury $9,118,429 Recurring Countywide Persons Served 25% $11.42 Department of Health Services $8,532,651 Recurring Countywide Persons Served 25% $10.68 District Attorney $19,642,153 Recurring Countywide Persons Served 25% $24.60 Emergency Management $2,691,759 Recurring Countywide Persons Served 25% $3.37 Human Services $27,923,634 Recurring Countywide Persons Served 25% $34.97 Agricultural Commissioner $2,362,106 Recurring Countywide Persons Served 25% $2.96 Permit Sonoma $4,660,645 Recurring Unincorporated Persons Served 100% $0.00 Probation $36,226,832 Recurring Countywide Persons Served 25% $45.36 Public Defender $12,888,613 Recurring Countywide Persons Served 25% $16.14 Regional Parks $4,786,172 Recurring Countywide Persons Served 25% $5.99 Sheriff's Office $103,660,198 Recurring Unincorporated Persons Served 100% $0.00 Transportation & Public Works $23,320 Recurring Unincorporated Persons Served 100% $0.00 UC Cooperative Extension $1,206,214 Recurring Countywide Persons Served 25% $1.51 Fire $1,500,000 Recurring Unincorporated Persons Served 100% $0.00 Community Development Commission $4,225,119 Recurring Unincorporated Persons Served 100% $0.00 Employee Programs $4,753,048 Recurring Countywide Persons Served 25% $5.95 Deferred Maintenance Fund $22,233,597 Recurring Countywide Persons Served 25% $27.84 Capital Project Plan Contribution $5,500,000 Recurring Countywide Persons Served 25% $6.89 Funding for Specific Programs $15,002,556 Recurring Unincorporated Persons Served 100% $0.00 City of Santa Rosa Annexation $1,462,000 Non-Recurring NA NA NA NA Community Infrastructure Project Fund $10,000,000 Recurring Unincorporated Persons Served 100% $0.00 Water Security Fund $5,000,000 Recurring Countywide Persons Served 25% $6.26 Reinvestment & Revitalization Fund $10,000,000 Recurring Unincorporated Persons Served 100% $0.00 Road Operations and Pavement Program $15,112,536 Recurring Countywide Persons Served 25% $18.92 Non-Departmental $7,174,635 Recurring Unincorporated Persons Served 100% $0.00 Pension Obligation Bond 2003B Interest $537,600 Recurring NA NA NA NA Future Needs/Reserves $31,968,692 Non-Recurring Countywide Persons Served 100% $0.00 Total Recurring Expenditures $439,617,371 NA NA NA NA NA I
ATTACHMENT 1-B
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

II Recurring County General Fund Expenditures (by Type) General Government
County Administrator/Board of Supervisors
County Counsel
General Services
Human Resources
Independent Office of Law Enforcement Review
Information Systems
Office of Equity
Auditor-Controller-Treasurer-Tax Collector
Clerk-Recorder-Assessor
Board of Supervisors Contingency
Non-General Government
Court Support/Grand Jury
Department of Health Services
District Attorney
Emergency Management
Human Services
Agricultural Commissioner
Permit Sonoma
Probation
Public Defender
Regional Parks
Sheriff's Office
Transportation & Public Works
UC Cooperative Extension
Fire
Community Development Commission
Employee Programs
Deferred Maintenance Fund
Capital Project Plan Contribution
Funding for Specific Programs
City of Santa Rosa Annexation
Community Infrastructure Project Fund
Water Security Fund
Reinvestment & Revitalization Fund
Road Operations and Pavement Program
Non-Departmental
Pension Obligation Bond 2003B Interest
Future Needs/Reserves
Total
Expenditures
$10,868,868
$1,050
$19,876,505
$10,338,776
$2,020,415
$1,553,883
$958,318
$6,421,842
$14,801,496
$4,583,709
$9,118,429
$8,532,651
$19,642,153
$2,691,759
$27,923,634
$2,362,106
$4,660,645
$36,226,832
$12,888,613
$4,786,172
$103,660,198
$23,320
$1,206,214
$1,500,000
$4,225,119
$4,753,048
$22,233,597
$5,500,000
$15,002,556
$1,462,000
$10,000,000
$5,000,000
$10,000,000
$15,112,536
$7,174,635
$537,600
$31,968,692
$439,617,371
,yp,,
Recurring
Recurring
Recurring
Recurring
Recurring
Recurring
Recurring
Recurring
Recurring
Recurring
Recurring
Recurring
Recurring
Recurring
Recurring
Recurring
Recurring
Recurring
Recurring
Recurring
Recurring
Recurring
Recurring
Recurring
Recurring
Recurring
Recurring
Recurring
Recurring
Non-Recurring
Recurring
Recurring
Recurring
Recurring
Recurring
Recurring
Non-Recurring
NA
Fiscal Impact Fiscal Impact D' t
F
�
Jurisdiction Basis 1Scoun
Countywide Case Study NA
Countywide Case Study NA
Countywide Case Study NA
Countywide Case Study NA
Unincorporated Case Study NA
Unincorporated Case Study NA
Unincorporated Case Study NA
Countywide Case Study NA
Countywide Case Study NA
Countywide Case Study NA
Countywide Persons Served 25%
Countywide Persons Served 25%
Countywide Persons Served 25%
Countywide Persons Served 25%
Countywide Persons Served 25%
Countywide Persons Served 25%
Unincorporated Persons Served 100%
Countywide Persons Served 25%
Countywide Persons Served 25%
Countywide Persons Served 25%
Unincorporated Persons Served 100%
Unincorporated Persons Served 100%
Countywide Persons Served 25%
Unincorporated Persons Served 100%
Unincorporated Persons Served 100%
Countywide Persons Served 25%
Countywide Persons Served 25%
Countywide Persons Served 25%
Unincorporated Persons Served 100%

NA NA NA
Unincorporated Persons Served 100%
Countywide Persons Served 25%
Unincorporated Persons Served 100%
Countywide Persons Served 25%
Unincorporated Persons Served 100%

NA NA NA
Countywide Persons Served 100%

NA NA NA
Fac.tOT
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
$11.42
$10.68
$24.60
$3.37
$34.97
$2.96
$0.00
$45.36
$16.14
$5.99
$0.00
$0.00
$1.51
$0.00
$0.00
$5.95
$27.84
$6.89
$0.00
NA
$0.00
$6.26
$0.00
$18.92
$0.00
NA
$0.00
NA
ATTACHMENT 1-C
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

LAND USE AND DEMOGRAPHICS SUMMARY
Future Land Use Data {At the end of EIFD Tenn)
I Developable Land Use Description
A Projected Residential Land Uses
Residential Land Uses 111
B Projected Non-Residential Land Uses
Non-Residential Land Uses 121
I Residential Land Use Population
A Projected Residential Land Uses
Residential Land Uses
Demographic Data
II Non-Residential Land Use Employee Generation
A Projected Non-Residential Land Uses
Non-Residential Land Uses
Population and Employees {Calculations)
I Projected Residential Population
A Projected Residential Land Uses
Residential Land Uses
II Projected Direct Employees
A Projected Non-Residential Land Uses
Non-Residential Land Uses
Population and Employees {Totals)
I Total Projected Residential Population
II Total Projected Direct Employees [5]
III Total Persons Served Population
NOTES:

Number of Units
2,281
Building Sq. Ft.
5,521,385
Persons per Household 131

2.516
Sq. Ft. per Direct Employee 141
614
Residential Population
5,739
Total Direct Employees
8,992
At the end of EIFD Term
5,739
8,992
10,235
[1] Estimated based on the total projected valuation of $456,126,144 (2023$) and the average 2022-23 assessed valuation of $200,000 per residential unit within the EIFD. 121 Estimated based on the total projected valuation of $1,242,311,582 (2023$) and the average 2022-23 assessed valuation of $225.00 per non-residential buidling sq. ft. within the EIFD [3]
[4]
[5]
*
California Department of Finance, Housing and Population Information, January 1, 2023.

Based on the estimated 5,176,748 sq. ft. of non-residential land use space and 8,432 jobs within the Santa Rosa Downtown Station Area.

An employee is typically assumed to be equivalent to 50% of a resident given they would spend only eight active hours in the EIFD per day versus a resident who is active for 16 hours per day.

All figures subject to rounding
ATTACHMENT 1-C
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

Number of Units
2,281
Building Sq. Ft.
5,521,385
Persons per Household 131

Based on the estimated 5,176,748 sq. ft. of non-residential land use space and 8,432 jobs within the Santa Rosa Downtown Station Area.

An employee is typically assumed to be equivalent to 50% of a resident given they would spend only eight active hours in the EIFD per day versus a resident who is active for 16 hours per day.

All figures subject to rounding
ATTACHMENT 1-C
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

2.516
Sq. Ft. per Direct Employee 141
614
[ Population and Employees {Calculations)
I Projected Residential Population
A Projected Residential Land Uses
Residential Land Uses
II Projected Direct Employees
A Projected Non-Residential Land Uses
Non-Residential Land Uses
[ Population and Employees {Totals)
Residential Population
5,739
Total Direct Employees
8,992
At the end of EIFD Term
I Total Projected Residential Population
II Total Projected Direct Employees [5]
III Total Persons Served Population
NOTES:
5,739
8,992
10,235
[1] Estimated based on the total projected valuation of $456,126,144 (2023$) and the average 2022-23 assessed valuation of $200,000 per residential unit within the EIFD. 121 Estimated based on the total projected valuation of $1,242,311,582 (2023$) and the average 2022-23 assessed valuation of $225.00 per non-residential buidling sq. ft. within the EIFD [3]
[4]
[5]
*
California Department of Finance, Housing and Population Information, January 1, 2023.

Based on the estimated 5,176,748 sq. ft. of non-residential land use space and 8,432 jobs within the Santa Rosa Downtown Station Area.

An employee is typically assumed to be equivalent to 50% of a resident given they would spend only eight active hours in the EIFD per day versus a resident who is active for 16 hours per day.

All figures subject to rounding
1 J
7 ATTACHMENT 1-D
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

PROPERTY TAX REVENUE ANALYSIS
General Property Tax Assumptions
Property Tax Allocation (as a Portion of the 1% General Property Tax Levy) 11] A Category / Code
County of Sonoma
Total
Allocated to County 121

19.830200%

19.830200%
Assessed Valuation Assumptions (3)
Projected Residential Land Uses
A Residential Land Uses
Total Estimated Net Taxable Value [3]
II Projected Non-Residential Land Uses
A Non-Residential Land Uses
Total Estimated Net Taxable Value 141
III Total Land Use Net Taxable Value
End of EIFD Term
$456,126,144
End of EIFD Term
$1,242,311,582
$1,698,437,725
Other Property Tax Revenue Assumptions
Unsecured Property Taxes - Assumptions
A Unsecured Taxes as a% of Secured 151
Residential Property
Non-Residential Property
II Property Tax Transfer - Assumptions
A Turnover Rate 161
Residential Property
Non-Residential Property
B Other Assumptions
Transfer Tax as a % of Assessed Value 171
Property Transfer Tax Passed Through to County of Sonoma (8)

2.75%

5.00%

10.00%

5.00%

0.11%

50.00%
Fiscal Impact Calculation (At the end of EIFD Tenn)
Fiscal Impact Category
A Secured Property Tax
A.1 Projected Residential Land Uses
Residential Land Uses
A.2 Projected Non-Residential Land Uses
Non-Residential Land Uses
B Unsecured Property Tax

8.1 Projected Residential Land Uses
Residential Land Uses

8.2 Projected Non-Residential Land Uses
Non-Residential Land Uses
C Property Transfer Tax
C.1 Projected Residential Land Uses
Residential Land Uses
C.2 Projected Non-Residential Land Uses
Annual Fiscal Impact Amount
End of EIFD Term
$904,508
End of EIFD Term
$2,463,529
End of EIFD Term
$24,874
End of EIFD Term
$123,176
End of EIFD Term
$25,087
End of EIFD Term
ATTACHMENT 1-D
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

PROPERTY TAX REVENUE ANALYSIS
Non-Residential Land Uses
II Gross Property Tax Revenues
III Property Tax Revenues to EIFD
County Admin Fee 19]
Secured Property Tax Increment 110]
IV Net Property Tax Revenues
NOTES·
$34,164
$3,575,338
End of EIFD Term
$0
($750,258)
$2,825,081
11] Based on "General Fund" levy for Tax Rate Area (TRA). Data provided by the County of Sonoma Auditor-Controller Office.

TRA allocations adjusted for ERAF. Note, figure does not include non-General Funds. 12] Post-ERAF rates based on the average of the fiscal year 2022-23 rates applicable to the TRAs in the EIFD Boundary.

Source: County of Sonoma Auditor-Controller Office.
131 Represents an estimated assessed valuation in 2023 dollars based on the projected assessed valuation of $1,090,165,723 at the end of the EIFD term and an assumed discount rate of 2%. 141 Represents an estimated assessed valuation in 2023 dollars based on the projected assessed valuation of $2,969,190,700 at the end of the EIFD term and an assumed discount rate of 2%. 151 Based on typical OTA baseline assumptions.
161 Based on typical OTA baseline assumptions.
171 Source: California Revenue & Taxation Code §11901, et seq.; 181 City of Santa Rosa Municipal Code §3-20.020 and County of Sonoma Code of Ordinance §12-23. 191 Assumes the County Admin Fee will be payable from the EIFD tax increments. 1101 Equals to 50% of the secured property tax and VLF increments. * All figures subject to rounding
ATTACHMENT 1-D
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

PROPERTY TAX REVENUE ANALYSIS
Non-Residential Land Uses
II Gross Property Tax Revenues
III Property Tax Revenues to EIFD
County Admin Fee 19]
Secured Property Tax Increment 110]
IV Net Property Tax Revenues
$34,164
$3,575,338
End of EIFD Term
$0
($750,258)
$2,825,081
NOTES·
11] Based on "General Fund" levy for Tax Rate Area (TRA). Data provided by the County of Sonoma Auditor-Controller Office.

Source: County of Sonoma Auditor-Controller Office.
131 Represents an estimated assessed valuation in 2023 dollars based on the projected assessed valuation of $1,090,165,723 at the end of the EIFD term and an assumed discount rate of 2%. 141 Represents an estimated assessed valuation in 2023 dollars based on the projected assessed valuation of $2,969,190,700 at the end of the EIFD term and an assumed discount rate of 2%. 151 Based on typical OTA baseline assumptions.
161 Based on typical OTA baseline assumptions.
171 Source: California Revenue & Taxation Code §11901, et seq.; 181 City of Santa Rosa Municipal Code §3-20.020 and County of Sonoma Code of Ordinance §12-23. 191 Assumes the County Admin Fee will be payable from the EIFD tax increments. 1101 Equals to 50% of the secured property tax and VLF increments. * All figures subject to rounding
ATTACHMENT 1-E
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

INVESTMENT INCOME REVENUES ANALYSIS
Investment Income Assumptions
Investment Period for Recurring Non-Interest General Fund Revenues (Months) Local Agency Investment Fund (LAIF) Rate of Return [11
Local Agency Investment Fund (LAIF) Percentage of Earnings Cost 111 Fiscal Impact Calculation (At the encl of EIFD Term)
Fiscal Impact Category
Total Property Tax Revenues (Attachment 1-D)
II Projected Recurring General Fund Revenues Available for Investment III Plus: Investment Income (Less Earnings Cost)
IV Total Recurring General Fund Revenues
NOTES·
[1)
*
Estimate. Subject to change.

All figures subject to rounding
1 1.50%

50.00%
Annual Fiscal Impact Amount
$2,825,081
$2,825,081
$1,766
$2,826,847
ATTACHMENT 1-E
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

INVESTMENT INCOME REVENUES ANALYSIS
C Aiiumpti
Investment Income Assumptions
Investment Period for Recurring Non-Interest General Fund Revenues (Months) Local Agency Investment Fund (LAIF) Rate of Return [11
Local Agency Investment Fund (LAIF) Percentage of Earnings Cost 111 1 1.50%

50.00%
Fiscal Impact Calculation (At the end of EIFD Tenn)
Fiscal Impact Category
Total Property Tax Revenues (Attachment 1-D)
II Projected Recurring General Fund Revenues Available for Investment III Plus: Investment Income (Less Earnings Cost)
IV Total Recurring General Fund Revenues
Annual Fiscal Impact Amount
$2,825,081
$2,825,081
$1,766
$2,826,847
NOTES·
[1)
*
Estimate. Subject to change.

All figures subject to rounding
J
ATTACHMENT 1-F
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

MULTIPLIER EXPENDITURES ANALYSIS
Multiplier Expenditure Assumptions
I Expenditure Category Multiplier Factor [11
Court Support/Grand Jury $11.42
Department of Health Services $10.68
District Attorney $24.60
Emergency Management $3.37
Human Services $34.97
Agricultural Commissioner $2.96
Probation $45.36
Public Defender $16.14
Regional Parks $5.99
UC Cooperative Extension $1.51
Employee Programs $5.95
Deferred Maintenance Fund $27.84
Capital Project Plan Contribution $6.89
Water Security Fund $6.26
Road Operations and Pavement Program $18.92
Ftscal Impact Calculation (At the end of EIFD Term)
Fiscal Impact Category
Court Support/Grand Jury
Department of Health Services
District Attorney
Emergency Management
Human Services
Agricultural Commissioner
Probation
Public Defender
Regional Parks
UC Cooperative Extension
Employee Programs
Deferred Maintenance Fund
Capital Project Plan Contribution
Water Security Fund
Road Operations and Pavement Program
II Total Multiplier Expenditures
NOTES:
[11 Source: County of Sonoma Adopted Budget, Fiscal Year 2022-23. * All figures subject to rounding
Expenditure Projection Basis
Persons Served
Persons Served
Persons Served
Persons Served
Persons Served
Persons Served
Persons Served
Persons Served
Persons Served
Persons Served
Persons Served
Persons Served
Persons Served
Persons Served
Persons Served
Annual Fiscal Impact Amount
$116,879
$109,305
$251,770
$34,491
$357,903
$30,294
$464,240
$165,186
$61,305
$15,454
$60,896
$284,930
$70,516
$64,068
$193,638
$2,280,875
ATTACHMENT 1-F
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

MULTIPLIER EXPENDITURES ANALYSIS
Multiplier Expenditure Assumptions
I Expenditure Category Multiplier Factor [11
Court Support/Grand Jury $11.42
Department of Health Services $10.68
District Attorney $24.60
Emergency Management $3.37
Human Services $34.97
Agricultural Commissioner $2.96
Probation $45.36
Public Defender $16.14
Regional Parks $5.99
UC Cooperative Extension $1.51
Employee Programs $5.95
Deferred Maintenance Fund $27.84
Capital Project Plan Contribution $6.89
Water Security Fund $6.26
Road Operations and Pavement Program $18.92
Expenditure Projection Basis
Persons Served
Persons Served
Persons Served
Persons Served
Persons Served
Persons Served
Persons Served
Persons Served
Persons Served
Persons Served
Persons Served
Persons Served
Persons Served
Persons Served
Persons Served
Ftscal Impact Calculation (At the end of EIFD Term)
Fiscal Impact Category
Court Support/Grand Jury
Department of Health Services
District Attorney
Emergency Management
Human Services
Agricultural Commissioner
Probation
Public Defender
Regional Parks
UC Cooperative Extension
Employee Programs
Deferred Maintenance Fund
Capital Project Plan Contribution
Water Security Fund
Road Operations and Pavement Program
II Total Multiplier Expenditures
Annual Fiscal Impact Amount
$116,879
$109,305
$251,770
$34,491
$357,903
$30,294
$464,240
$165,186
$61,305
$15,454
$60,896
$284,930
$70,516
$64,068
$193,638
$2,280,875
J
NOTES:
[11 Source: County of Sonoma Adopted Budget, Fiscal Year 2022-23. * All figures subject to rounding
ATTACHMENT 1-G
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

GENERAL GOVERNMENT EXPENDITURES ANALYSIS
Assumptions
General Government Overhead Expenditures
Total Recurring General Fund Expenditures
(excluding General Government Overhead) [11
Recurring General Government Overhead Expenditures
(as a % of Total Recurring General Fund Expenditures) [21 Marginal Increase in General Government Costs
Ftscal Impact Calculation (At the end of EIFD Term)
I Fiscal Impact Category
Total Multiplier Expenditures (Attachment 1-J)
II Projected Recurring General Fund Expenditures
III Plus: General Government Costs
IV Total Recurring Expenditures
NOTES:
[11 Based on County of Sonoma Adopted Budget, Fiscal Year 2022-23. $368,192,509

19.4%
75%
Annual Fiscal Impact Amount
$2,280,875
$2,280,875
$331,846
$2,612,721
[21 General Government Overhead Expenditures defined as costs for Legislative, Administration, Finance, Development Services, and other General Government. * All figures subject to rounding
ATTACHMENT 1-G
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

19.4%
75%
I Fiscal Impact Category
Ftscal Impact Calculation (At the end of EIFD Term)
Total Multiplier Expenditures (Attachment 1-J)
II Projected Recurring General Fund Expenditures
III Plus: General Government Costs
IV Total Recurring Expenditures
NOTES:
[11 Based on County of Sonoma Adopted Budget, Fiscal Year 2022-23.

Annual Fiscal Impact Amount
$2,280,875
$2,280,875
$331,846
$2,612,721
[21 General Government Overhead Expenditures defined as costs for Legislative, Administration, Finance, Development Services, and other General Government. * All figures subject to rounding
l

Cotati City CouncilNovember 26, 2024

Cotati City Council
November 26, 2024