Exhibit T – Draft Public Facilities Financing Options Report

Public Review Draft Report
Southeast Development Area
Specific Plan
Public Facilities Financing Options

Prepared for:

City of Fresno

Prepared by:

Economic & Planning Systems, Inc. (EPS)

May 2025

EPS #242056
Table of Contents
Introduction and Executive Summary .............................................. 1 Introduction ....................................................................................... 1 Land Use, Population, and Employee Summary ....................................... 4 Backbone Infrastructure and Public Facility Definitions ........................... 11 Facilities Requirements and Costs ........................................................ 12 Financing Options Summary ............................................................... 14 Preliminary Financial Feasibility Overview ............................................. 17 Financing Options Implementation ...................................................... 19 Organization of the Report ................................................................. 21 Project Land Uses, Population, and Employees ................................. 22 Land Uses ........................................................................................ 22 Financing Options and Funding Sources .......................................... 27 Sources of Funding ........................................................................... 30 Proposed Operating and Maintenance Funding ....................................... 33 Predevelopment Phases ................................................................ 35 Summary of Predevelopment Phase Facilities ........................................ 35 Facilities Costs .................................................................................. 35 Funding Sources ............................................................................... 38 Cash Flow Analysis ............................................................................ 40 Phases 1S and 1N ........................................................................ 42 Summary of Phase 1 Facilities ............................................................ 42 Facilities Costs .................................................................................. 42 Funding Sources ............................................................................... 48 Estimated Funding for Phases 1S and 1N .............................................. 50 Cash Flow Analysis ............................................................................ 54 Cost Burden Analysis ......................................................................... 57 Remaining Phases and Buildout ..................................................... 60 Summary of Facilities in Remaining Phases ........................................... 60 Facilities Costs .................................................................................. 60 Funding Sources ............................................................................... 66 Estimated Funding for Phases 2 and 3 and Project Buildout ..................... 69 Cash Flow Analysis ............................................................................ 69 Summary of Financial Feasibility Analyses ............................................ 73 Cost Burden Analysis ......................................................................... 75

Applicable City Policies and Implementation Plan ................................ 80 Applicable General Plan Policies........................................................... 80 Implementation Plan ......................................................................... 81

Appendices
Appendix A: Land Use Backup
Appendix B: Supporting Calculations for Facilities Cost Estimates Appendix C: Supporting Calculations for Existing Fee Programs Revenue and SEDA Special Financing District Funding
Appendix D: Estimated Maximum Special Tax Revenue and Bond Sizing

List of Maps
Map 1 Regional Location .......................................................................... 2 Map 2 SEDA Proposed Land Use Map ......................................................... 5

List of Tables
Table 1 Land Use Summary—Projected Future Development ........................... 6 Table 2 Population and Employees—Projected Future Development ................ 10 Table 3 Projected New Dwelling Units Summary .......................................... 24 Table 4 Projected New Nonresidential Building Square Feet Summary ............ 25 Table 5 Projected New Population and Employees Summary ......................... 26 Table 6 Backbone Infrastructure Cost Summary - Predevelopment ................. 36 Table 7 Estimated Sources and Uses - Predevelopment ................................ 39 Table 8 Estimated Cash Flow - Predevelopment ........................................... 41 Table 9 Backbone Infrastructure and Public Facilities Cost Summary - Phase 1 After Predevelopment ................................................................... 43 Table 10 Development Fee Revenue Summary - Phase 1 ................................ 49 Table 11 Estimated Sources and Uses - Phase 1 After Predevelopment Phase .... 52 Table 12 Estimated Cash Flow - Phase 1 After Predevelopment Phase .............. 55 Table 13 Infrastructure and Public Facility Cost Burden as Percentage of Project Market Value - Phase 1 ................................................................. 58 Table 14 Backbone Infrastructure and Public Facilities Cost Summary at Buildout 61 Table 15 Existing Development Fee Revenue Summary at Buildout (2025$) ...... 67 Table 16 Estimated Sources and Uses - Phases 2 and 3 and Buildout ............... 70 Table 17 Estimated Cash Flow - Phases 2 and 3 and Buildout .......................... 72 Table 18 Cash Flow Summary .................................................................... 74 Table 19 Infrastructure and Public Facility Cost Burden as a Percentage of Project Market Value - Phases 2 and 3 and Buildout .................................... 76

Table 20 Estimated Annual Taxes/Assessments as a Percentage of Sales Price .. 79

Glossary of Key Terms
CCI Engineering News Record Construction Cost Index
CFD Mello-Roos Community Facilities District
Clovis USD Clovis Unified School District
EIFD Enhanced Infrastructure Financing District
EIR Environmental Impact Report
FAX Fresno Area Express
FMFCD Fresno Metropolitan Flood Control District
LAFCO Fresno Local Agency Formation Commission
PARCS City Parks, After School, Recreation, and Community Services Department
PAYGO Pay-As-You-Go Financing
Phase 1N Development Phase 1 North
Phase 1S Development Phase 1 South
Phase 2 Development Phase 2
Phase 3 Development Phase 3
PPP Public-Private Partnership
Predevelopment
Phase
Infrastructure construction phase prior to any
development occurring
Sanger USD Sanger Unified School District
SOI Sphere of Influence

Economic & Planning Systems, Inc. (EPS) 1
Introduction and Executive Summary
Readers’ Note
The purpose of this Southeast Development Area Public Facilities Financing Options report is to provide preliminary high-level development and facility cost estimates and to discuss various potential financing options that could be used to fund construction of the improvements. The City of Fresno (City) staff and City Council may review the development, costs, and financing options in more detail resulting in an updated Public Facilities Financing Options report that reflects refined development, costs, and financing mechanisms.

In drafting the Southeast Development Area Specific Plan, the City took a proactive approach to planning for infrastructure that is unique among City specific planning efforts. The advance preparation for investment in backbone infrastructure such as roads, water, and sewer stands in contrast to the City’s standard practice of providing infrastructure as development occurs. Likewise, the City has asked Economic and Planning Systems, Inc. (EPS) to prepare an in-depth analysis of financing options to support this proactive investment, whereas other City of Fresno specific plans rely on existing means of funding (i.e., development impact fees). The approach used in this report is anticipated to yield a more effective and coordinated development process.

Introduction
The Southeast Development Area Specific Plan (SEDA or Project) comprises approximately 8,800 acres, or 13.75 square miles. The entire Project is located outside the city limits but in the City of Fresno (City) Sphere of Influence (SOI), which is the adopted limit for future growth. The Project consists mostly of vacant land, open space, and agricultural land, and it also includes nearly 2,000 acres of existing rural residential development that is expected to remain. It is assumed that portions of SEDA will annex into the City over time as the Project develops.

As shown on Map 1, SEDA is located in the southeast portion of the City SOI.

It is bounded to the north by the Gould Canal, to the east by McCall and Highland Avenues, to the south by Jensen and North Avenues, and to the west by Locan, Temperance, and Minnewawa Avenues.

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Map 1 Regional Location

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The Southeast Development Area Specific Plan document (Specific Plan) will serve to implement the City’s adopted General Plan policies and establish clear direction for development of the Project. The purpose of the Specific Plan is to create a comprehensively planned community that provides an appropriate balance of land uses and systematically constructed infrastructure and services to adequately and responsibly support development in the Project.

This Public Facilities Financing Options report (Financing Options report) serves as a companion report to the Specific Plan and SEDA Environmental Impact Report (EIR) and provides a policy framework and technical information supporting adoption of the potential financing mechanisms for constructing Backbone Infrastructure and Public Facilities (as defined later in this chapter) required for the Project.

The Financing Options report identifies all backbone infrastructure improvements and public facilities needed to serve the proposed land uses, details the estimated costs for these improvements, and describes potential financing mechanisms that could be used to construct the improvements in a timely manner. SEDA developers would be responsible for funding or constructing all backbone infrastructure and public facilities needed to serve the Project. Credit and Reimbursement mechanisms through a SEDA Fee Program or reimbursement agreement would allow for repayment to private developers if other funding became available (e.g., grant funding; advance-funding facilities included in fee programs) and would be subject to City, County, and special district fee credit and reimbursement policies.

The City has identified the following types of backbone infrastructure and public facilities that will be necessary to serve SEDA development: potable water, recycled water, sewer, storm drainage, transportation, parks, fire, police, transit, schools, and community centers. The Financing Options report is designed to identify ways to finance construction of public infrastructure and public facilities through a combination of public and private financing in accordance with the stated Fiscal Responsibility objectives of the Specific Plan. 1 • Provide self-financing for the development and ongoing maintenance of the SEDA that does not reduce City of Fresno resources dedicated to other areas of the City or burden Fresno residents outside of the SEDA. • Holistically coordinate infrastructure to integrate efficiencies that piecemeal planning cannot.
• Invest in resource conserving techniques for stormwater systems, water supply, and trail and open space networks to save on infrastructure and mitigation costs.

The assumptions concerning land uses, backbone infrastructure and public facilities requirements and costs, and funding sources in this Financing Options

1 From Southeast Development Area Specific Plan, Introduction, SEDA Specific Plan Goals section, 2025.

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report are all preliminary and will undoubtedly be refined as Project implementation occurs. These refinements could lead to changes in the financing strategy and the overall viability of the Project. It should be noted that cost projections become less accurate the further into the future they are forecast.

The remainder of this chapter summarizes the components of the financing options analysis, including new land uses and estimated residential and employee populations in the Project, required backbone infrastructure and public facilities to serve new development and associated costs that must be funded, financing options, and a preliminary evaluation of financial feasibility.

Land Use , Population, and Employ ee
Summary
Land Uses
SEDA is expected to develop in four phases beginning with Phase 1S, the southern portion of Phase 1. Map 2 illustrates the currently anticipated development phases and the land uses in each phase. The first phase of development (Phase 1) is a combination of Phase 1S and Phase 1N, the areas in the southernmost and northernmost portions of the Project. Phases 1N, 2 and 3 are planned to develop after Phases 1S, but the order of development for these phases is uncertain.

Table 1 summarizes the new development potential for the Project by phase and at buildout. Note that estimated new development excludes approximately 1,955 acres and 650 dwelling units of existing rural residential development that is expected to remain in the Project.

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Map 2 SEDA Proposed Land Use Map

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Table 1 Land Use Summary—Projected Future Development [1] (page 1 of 2)

Item
Average
Units per
Acre/FAR
Net
Developable
Acres
Dwelling
Units
Building
Square Feet
Net
Developable
Acres
Dwelling
Units
Building
Square Feet
Net
Developable
Acres
Dwelling
Units
Building
Square Feet
Residential Units per Acre
Single Family Low Density 0.25 79.2 20 - 0.0 0 - 79.2 20 - Single Family Medium Density 22.06 292.0 6,182 - 144.5 3,209 - 436.5 9,391 - Multifamily 30.60 160.7 4,412 - 105.1 3,153 - 265.8 7,565 - Total Residential 20.80 532.0 10,614 - 249.5 6,362 - 781.5 16,976 - Nonresidential FAR
Commercial Retail 0.27 50.5 - 731,633 131.6 - 985,845 182.1 - 1,717,478 Commercial Office 0.24 13.4 - 248,183 173.7 - 1,215,412 187.1 - 1,463,595 Light Industrial 0.11 0.0 - 0 490.0 - 1,824,762 490.0 - 1,824,762 Total Nonresidential 0.19 63.9 - 979,816 795.3 - 4,026,019 859.2 - 5,005,835 Total Residential and Nonresidential 595.8 10,614 979,816 1,044.8 6,362 4,026,019 1,640.6 16,976 5,005,835 Public/Quasi-Public
Civic [2] 0.20 163.0 - 2,021,238 119.9 - 1,544,825 282.9 - 3,566,062 Parks 0.00 96.9 - 0 103.0 - - 199.9 - -
Flood Control Basin 0.00 266.0 - 0 0.0 - - 266.0 - - Right-of-Way 0.00 121.0 - 0 97.0 - - 218.0 - -
Total Public/Quasi-Public - 646.9 - 2,021,238 319.9 - 1,544,825 966.8 - 3,566,062 Total Future Development 1,242.7 10,614 3,001,054 1,364.7 6,362 5,570,844 2,607.4 16,976 8,571,898 Source: City of Fresno; EPS
[1] Excludes existing development expected to remain (Rural Residential). See Table A-1, Table A-3, and Table A-4 for more detailed land use information. [2] Includes Civic, Civic Office and Civic Mixed Use. FAR is a weighted average across all civic categories. See Table A-4 for more detail.

Phase 1N Phase 1S Total Phase 1
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Table 1 Land Use Summary—Projected Future Development [1] (page 2 of 2) Item
Average
Units per
Acre/FAR
Net
Developable
Acres
Dwelling
Units
Building
Square Feet
Net
Developable
Acres
Dwelling
Units
Building
Square Feet
Residential Units per Acre
Single Family Low Density 0.25 300.0 75 - 379.2 95 -
Single Family Medium Density 22.06 525.8 11,842 - 962.3 21,232 - Multifamily 30.60 404.4 12,946 - 670.2 20,511 -
Total Residential 20.80 1,230.2 24,862 - 2,011.7 41,838 - Nonresidential FAR
Commercial Retail 0.27 193.0 - 2,629,988 375.1 - 4,347,465 Commercial Office 0.24 192.0 - 2,477,523 379.2 - 3,941,118 Light Industrial 0.11 220.8 - 1,096,211 710.7 - 2,920,973 Total Nonresidential 0.19 605.8 - 6,203,721 1,465.0 - 11,209,556 Total Residential and Nonresidential 1,836.0 24,862 6,203,721 3,476.7 41,838 11,209,556 Public/Quasi-Public
Civic [2] 0.20 214.9 - 1,902,771 497.8 - 5,468,833
Parks 0.00 236.2 - - 436.0 - -
Flood Control Basin 0.00 - - - 266.0 - -
Right-of-Way 0.00 296.0 - - 514.0 - -
Total Public/Quasi-Public - 747.0 - 1,902,771 1,713.8 - 5,468,833 Total Future Development 2,583.0 24,862 8,106,492 5,190.5 41,838 16,678,389 Source: City of Fresno; EPS
[2] Includes Civic, Civic Office and Civic Mixed Use. FAR is a weighted average across all civic categories. See Table A-4 for more detail. [1] Excludes existing development expected to remain (Rural Residential). See Table A-1, Table A-3, and Table A-4 for more detailed land use Phases 2 and 3 Buildout
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Phases 1S and 1N include capacity for nearly 17,000 new dwelling units and 5.0 million square feet of new retail, office, and industrial development. Phases 1S and 1N combined also include approximately 1,000 acres of new public and quasi- public development, such as schools, places of worship, parks and open space, fire and police stations, and roadways, as well as approximately 3.5 million square feet of new civic buildings (e.g., schools, fire and police stations, and government buildings). The approximate division of the planned development between Phases 1S and Phase 1N is summarized below:

Phase 1S
• 6,400 dwelling units
• 4.0 million nonresidential building square feet
• 320 public and quasi-public acres
• 1.5 million civic building square feet
Phase 1N
• 10,600 dwelling units
• 1.0 million nonresidential building square feet
• 650 public and quasi-public acres
• 2.0 million civic building square feet
At buildout, SEDA is expected to contain approximately 42,000 new dwelling units, 11.2 million square feet of new retail, office, and industrial development, 1,700 acres of new public and quasi-public development, and 5.5 million square feet of new civic buildings.

The projected development by phase and at buildout in Table 1 is based on SEDA land use data provided by the City in May 2023. Appendix A provides detailed information regarding new development expected to occur in SEDA.

The main purpose of identifying new development is to identify backbone infrastructure and public facilities requirements to serve new development and to estimate total revenues generated through various potential funding sources including existing and new development impact fee programs, a potential new Mello-Roos Community Facilities District (CFD), public-private partnerships (PPP), and other funding sources (e.g., grants) that could be used to fund backbone infrastructure and public facilities.

Some funding mechanisms offer the option of funding large, upfront capital costs through bond financing (e.g., debt issuance); alternatively, these funding mechanisms may be used on a pay-as-you-go (PAYGO) basis (i.e., used to fund costs as revenue is collected). Chapter 3 discusses funding options for Project- required backbone infrastructure and public facilities in more detail.

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Population and Employees
Table 2 summarizes the expected population and employees to be generated by the residential and nonresidential development during Phase 1S, Phase 1N, Phases 2 and 3, and at buildout. At the completion of Phase 1S and Phase 1N development, it is anticipated that SEDA will have approximately 50,000 new residents and over 18,000 new employees. At buildout, it is anticipated that SEDA will have approximately 118,000 new residents and over 36,000 new employees.

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Table 2 Population and Employees—Projected Future Development

Item Population Employees Population Employees Population Employees Population Employees Population Employees Residential pph
Single Family Low Density 3.31 66 - - - 66 - 248 - 314 - Single Family Medium Density 3.31 20,462 - 10,620 - 31,082 - 39,195 - 70,277 - Multifamily 2.29 10,104 - 7,221 - 17,325 - 29,645 - 46,970 - Subtotal 30,632 - 17,841 - 48,473 - 69,088 - 117,561 - Nonresidential sq. ft. per emp
Commercial Retail 366 - 1,493 - 2,691 - 4,184 - 7,681 - 11,865 Commercial Office 512 - 331 - 2,351 - 2,682 - 5,013 - 7,695 Light Industrial 450 - - - 4,055 - 4,055 - 2,436 - 6,491 Subtotal - 1,824 - 9,097 - 10,921 - 15,130 - 26,051 Total Residential and Nonresidential 30,632 1,824 17,841 9,097 48,473 10,921 69,088 15,130 117,561 26,051 Civic - - 4,218 - 3,300 - 7,518 - 2,571 - 10,088
Total Future Development - 30,632 6,042 17,841 12,397 48,473 18,439 69,088 17,701 117,561 36,139 Source: City of Fresno; EPS.
[1] See Table A-2 for detailed calculations.

BuildoutPhases 2 and 3Persons per
Household/
Emp. Density
Phase 1N Phase 1S Total Phase 1
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Backbone Infrastructure and Public
Facility Definitions
The term “backbone infrastructure” often is used to describe all publicly owned facilities. This Financing Options report uses the following definitions to characterize these items more precisely.
• Backbone Infrastructure. This term includes most of the essential public service-based items that are underground or on the surface. Backbone infrastructure is sized to serve the Project. For SEDA, Backbone Infrastructure includes the following types of facilities. More details about the backbone infrastructure can be found on page 12.
‒ Potable and Recycled Water ‒ Sewer
‒ Storm Drainage ‒ Transportation
• Public Facilities. This group of items provides amenities to the Project (e.g., parks, schools) or houses employees providing services to the area (e.g., police, fire). For SEDA, Public Facilities include the following types of improvements and amenities. More details about the public facilities can be found on pages 12 and 13.
2 ‒ Parks ‒ Fire Facilities
‒ Police Facilities ‒ Transit Improvements
‒ Schools ‒ Community Centers
• Facilities. This term is used generically in the Financing Options report to include a combination of Backbone Infrastructure and Public Facilities when a precise breakdown is not required.

This report excludes the cost of Subdivision Infrastructure. This group of improvements includes in-tract improvements (e.g., mass grading, sewer, storm drainage, water, and roads) in an individual subdivision, commercial project, or multifamily project. These costs are excluded from the Financing Options report because they are not shared costs that benefit all Project development or all development in a particular phase. They are assumed to be the responsibility of the specific subdivision developer who is moving forward with specific onsite development improvements and are not included as part of the costs to be funded by the financing options considered in this report.

2 Other public facilities, such as aquatic centers could be included in future Financing Options report updates.

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Facilities Requirements and Costs
SEDA Facilities are designed to serve the different SEDA phases and exclude in- tract and other subdivision-specific improvements, which will be privately financed by the subdivision developers. The Facilities cost estimates are high-level and preliminary and will be revised as backbone infrastructure and public facilities design occurs. It should be noted that cost projections become less accurate the further into the future they are forecast.

Detailed Facilities cost estimates by phase are provided in Chapters 4 through 6 and Appendix B. Where Facilities costs were not available, existing development impact fee program revenue generated by SEDA development is used to estimate costs, as described below. Appendix C details the estimated revenue from existing development impact fee programs.

Backbone Infrastructure
Potable Water, Recycled Water and Sewer
The Project engineers (Blair, Church, & Flynn) and the City Department of Public Utilities identified backbone infrastructure requirements for potable water, recycled water, and sewer improvements by development phase based on historical master plans and technical studies prepared by the Project engineers in 2022. The City Department of Public Utilities provided updates to the facilities requirements and costs in 2025 and identified the backbone infrastructure needed in the predevelopment phases.

Storm Drainage
The Project engineers and the Fresno Metropolitan Flood Control District provided storm drainage improvement requirements and costs by development phase in 2022. The costs were escalated to 2025 dollars using the Engineering News Record Construction Cost Index (CCI) to estimate the increase in costs from 2022 through 2025.

Transportation
The City Public Works Department identified backbone transportation improvement requirements by phase (including those improvements needed in the predevelopment phases) and estimated the costs of these improvements.

Public Facilities
Public facilities required to support SEDA development include parks, fire and police facilities, transit improvements, schools, and community centers.

Fire, Police, and Schools
For fire facilities, police facilities, and schools, the Financing Options report assumes Project-specific improvements are or will be defined and will be funded SEDA Specific Plan Public Facilities Financing Options
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through the participation in the existing Citywide fire, Citywide police, and school district development impact fee programs, respectively. As such, the Project’s fair share cost obligation for these facilities equals the fee revenue generated by Project development.

Parks
The required parks facilities by phase are based on City General Plan level of service standards. Parks costs are estimated by multiplying the required park acres by land acquisition and construction costs per acre provided by the City Parks, After School, Recreation, and Community Services (PARCS) department in 2025.

Transit
The transit improvements by phase were provided by Fresno Area Express (FAX), which is part of the City Department of Transportation. Transit costs were estimated by FAX in October 2023 and escalated to 2025 dollars using the CCI to estimate the increase in costs from 2023 through 2025.

Community Centers
The building square feet of community centers by phase are based on the City’s existing level of service for community centers (i.e., the existing building square feet of community centers in relation to the City population). Community center costs are estimated by multiplying the required community center building square feet by estimated construction costs that were developed based on 2023 construction costs for recently built public buildings in the City. As with the transit costs, these costs were escalated to 2025 dollars using the CCI.

It should be noted that in addition to these public facilities, development in SEDA will be required to contribute to Fresno County (County) public facilities through payment of the County Public Facilities Fee. This fee funds the following types of County improvements and facilities: Countywide public protection, general government, libraries, health and human services, sheriff patrol and investigation, and parks.

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Financing Options Summary
The elements of the Financing Options report must work together to provide the optimal balance of fee, bond, private, and grant funding to not overburden undeveloped land, while assuring necessary Facilities are constructed when needed.

The following financing strategy options are recommended:
• Fund eligible improvements through existing City, County, and special district fee programs. These existing fee programs are summarized below:
- City Development Impact Fee Programs. The City has adopted the following fee programs that could fund or partially fund many of the needed Facilities in SEDA:
» Water: Water Capacity Fee
» Sewer: Oversize Sewer Charge and Wastewater Facilities Sewer Charge
» Police: Police Facilities Fee
» Fire: Fire Facilities Fee
» Parks: Parks Facility Fee and Quimby Parkland Dedication Fee Note that the City has Major Streets and Traffic Signal fee programs to fund transportation and signal improvements. SEDA currently does not participate in those fee programs but could be included in the future.

In addition, the City plans to establish a Trunk Sewer fee for the Temperance Trunk Service Area that will be charged to SEDA development. As this fee has not yet been developed, no Trunk Sewer Fees have been included in this Financing Options report. - Fresno Metropolitan Flood Control District (FMFCD) Drainage Fee.

The FMFCD fee funds stormwater drainage basins and pipeline needed to serve development.
- Clovis Unified School District (Clovis USD) and Sanger Unified School District (Sanger USD) Fees. SEDA development is split between the Clovis USD and the Sanger USD. Each school district has a fee program that funds school facilities in the district.
• Use private developer funding as needed, through debt, equity, or a combination of both. Private developers will be responsible for funding and/or constructing all backbone infrastructure and public facilities needed to serve the Project. In many cases, particularly in the early stages of each development, private developers would be required to construct or fund more than the proportionate share of improvements for facilities serving a given development phase. Credit and Reimbursement mechanisms through a SEDA Fee Program or reimbursement agreement would allow for repayment SEDA Specific Plan Public Facilities Financing Options
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to private developers if other funding became available (e.g., grant funding; advance-funding facilities included in fee programs) and would be subject to City, County, and special district fee credit and reimbursement policies. • Identify funding and financing opportunities through public-private partnerships (PPP) to the extent possible. PPPs are collaborative agreements between government entities and private sector entities that address financing, designing, implementing, and operating projects that serve the public. These partnerships combine public oversight with private sector investment, innovation, and operational expertise. In a typical PPP, the private partner may finance, design, build, operate, and/or maintain a facility, while the public agency retains ownership and ensures the project meets public needs. PPPs are often used for transportation, water systems, public buildings, and other infrastructure where shared risk and performance-based outcomes can improve efficiency and reduce public costs. • Fund Project-specific improvements not currently funded through existing and other proposed financing mechanisms through a new Special Financing District. The Special Financing District would generate revenue through fees, taxes, and other sources charged to SEDA developers and new SEDA homeowners and business owners. The Special Financing District may include one or more of the following funding mechanisms:
- Plan Area Fee Program (hereafter referred to as the SEDA Fee Program). A fee program is an ordinance-based one-time development impact fee (adopted pursuant to Government Code Section 66000) that would be charged to new development (i.e., Project developers) in SEDA at issuance of a building permit or other construction document. - Mello-Roos CFD. A CFD could be used on a PAYGO basis or could be used to issue debt supported by annual special taxes charged to private development in the Project. Any improvements funded by the CFD would be deducted from the SEDA Fee Program obligations.
- Enhanced Infrastructure Financing District (EIFD). An EIFD is a type of tax increment financing that utilizes property and/or sales tax revenue paid by SEDA development to fund Project improvements. An EIFD may be used on a PAYGO basis or could be used to issue debt supported by annual EIFD revenue.
- Other Infrastructure Charge. An infrastructure charge is a fair-share cost obligation for each Project developer that is related to Project infrastructure requirements and identified as a condition of approval.

If a Special Financing District is not used, the cost of any Facilities not funded through existing fees or through bond financing could be paid for by Project developers through a private cost-sharing agreement.

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Land-secured debt financing may be used to reimburse Project developers for Facilities constructed before the availability of PAYGO funding. Land-secured debt financing, if used, will likely be provided through a Mello-Roos CFD. • Seek local, regional, State of California (State), and federal grant funding sources to the extent possible.
• Build in flexibility to respond to changing market conditions.

Chapter 3 of this report details the general financing options for SEDA development throughout all phases of development.

Financing Options by Phase
This report provides financing strategy options by phase. Chapters 4 through 6 focus on individual development phases, including two predevelopment phases.

The two predevelopment phases, defined as Predevelopment Phase 1S and Predevelopment Phase 1N, identify Facilities required to serve Phase 1S and Phase 1N before any development can occur in those phases. The summary below identifies the chapters of the report that detail the Facilities costs, financing options, and financial feasibility evaluation for each phase:
• Chapter 4: Predevelopment Phases 1S and 1N
• Chapter 5: Phases 1S and 1N
• Chapter 6: Phases 2 and 3 and Buildout
The financing options for each phase include the sources and uses of funding and a cash flow analysis, which are summarized below and described in more detail in the remainder of the report.

Sources and Uses
Chapters 4, 5, and 6 include “Sources and Uses” tables that summarize the estimated costs and funding by funding source for required SEDA Facilities for the phases included in each chapter. As shown in these tables, the major Facilities required for development to proceed in a particular phase of the Project would be funded through a combination of public and private financing.

The funding for the costs on the Sources and Uses tables generally is split between existing development impact fee programs and a proposed SEDA Special Financing District, with the exception that transit facilities and community centers are assumed to be funded by State and local grants.

The amounts shown as funded by each source are the estimated amounts that will be funded. However, full funding may not be available at the time that the facilities must be constructed to support development in a particular phase. For example, sufficient fee program revenue will not be available to fully fund different Facilities costs in existing fee programs until enough development has occurred to generate the required revenue. Upfront capital will be required to finance some needed SEDA Specific Plan Public Facilities Financing Options
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Facilities, which could be generated through various sources such as City advance- funding, private developer funding as part of a development project or through a PPP, bond funding through a CFD, interfund borrowing, grant funding, or other sources. In addition to providing upfront capital, funding from these sources may reduce total costs funded through the SEDA Special Financing District.

Cash Flow Analysis
Chapters 4, 5 and 6 include c ash flow analyses that summarize the estimated costs, available revenues, potential surpluses or shortfalls, and potential shortfall fundin g sources for each phase . These analyses address the timin g of available funding through the identified sources discusse d in the previous section (existing development impact fee programs , the SEDA Special Financing District, and State and local grants) and estimate the fundin g surplus or shortfall for the different types of Facilities. For each phase, the surpluses and shortfalls are estimated by comparing the Facilities cost to the revenue available during that phase (e.g., development impact fee revenue generated by development in a particular phase).

Any shortfalls will need to be funded through various public and private funding sources until enough revenue is generated through existing fee programs or the SEDA Special Financing District to fully cover the cost of the improvements and reimburse the entity that provided the shortfall funding. As summarized above, the shortfall funding sources could include City advance-funding, private developer funding as part of a development project or through a PPP, bond funding through a CFD, interfund borrowing, grant funding, or other sources.

Preliminary Financia l Feasibility
Overview
Ensuring that the cost and timing of infrastructure requirements are affordable by proposed new development is an important objective of the Financing Options report. Two analyses are included in this Financing Options report to evaluate financial feasibility by phase.
• To tal Infrastructure Cost Burden Test
• Two-Pe rcent Total Taxes and Assessments Test
It is important to note the preliminary nature of the financial feasibility analyses presented in this Financing Options report. The feasibility tests are based on one financing scheme where the majority of the Facilities costs are funded through existing development impact fee programs and a SEDA Special Financing District to provide additional funding through a plan area fee program, CFD bond financing, and/or other developer-funded sources. If funding is obtained through other sources, such as additional grant revenue, the results of the feasibility analyses in this study could be improved. In addition, Project land uses, and associated SEDA Specific Plan Public Facilities Financing Options
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infrastructure requirements and costs likely will be refined as Project implementation occurs, which could change the results of the financial feasibility analyses.

These feasibility metrics should be considered initial diagnostics, offering a general indicator of whether a project is likely to meet financial feasibility criteria, or whether measures should be taken to improve viability either through a reduction in cost burdens, identification of other funding sources, or other approaches.

Ultimately, public agency decision makers, in discussions with Project property owners and developers, will use their best judgment to decide if the Project can feasibly afford the estimated infrastructure and total tax and assessment burden.

Total Infrastructure Cost Burden Test
The Total Infrastructure Cost Burden feasibility test assesses the financial feasibility of the Project, given all current and proposed fees and the additional burden of Project-specific infrastructure costs. Typically, total infrastructure costs comprise up to a maximum of 15 to 20 percent of a project’s market value. Based on pro forma analyses of dozens of Specific Plans in California over the past 3 decades, the infrastructure burden feasibility performance test yields the following general conclusions:
• B urdens below 15 percent generally are considered financially feasible. • B urdens between 15 and 20 percent may be feasible depending on the specific circumstances of the project.
• B urdens above 20 percent suggest that a project may not be financially feasible unless other components of the project pro forma are particularly advantageous to the developer, thus allowing the project to bear unusually high infrastructure costs.

The preliminary feasibility analysis indicates that infrastructure cost burdens exceed the generally accepted 20 percent threshold across all phases, suggesting that reducing facilities costs or identifying alternative funding sources may be necessary to improve project viability.

Phase 1 shows a total burden of 30.3 percent, with Phase 1S at 22.4 percent and Phase 1N at 35.6 percent. Given that the burden of Phase 1S development is only slightly above the 20 percent threshold based on its lower infrastructure requirements and greater likelihood of financial feasibility, the City is proposing to begin SEDA development with this phase.

Phases 2 and 3 show a combined infrastructure burden of 21.3 percent, and SEDA buildout results in a burden of 22.6 percent. All phases are above the feasibility threshold.

The detailed results of the Total Infrastructure Cost Burden test are provided in Chapters 5 and 6.

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Two-Percent Total Taxes and Assessments Test
The Two-Percent Total Taxes and Assessments test is based on the principle that existing and proposed property taxes (including ad valorem taxes, general obligation bond taxes, special assessments, and other special taxes) should not exceed the industry guideline of a maximum of 2 percent of the value of the property. This guideline is based on the State’s Proposition 13-enacted general property tax rate of 1 percent, plus an additional 1 percent (for a total of 2 percent) of the total value of the property. This test is applied to residential property values only.

The preliminary feasibility analysis suggests that total existing and proposed taxes and assessments for residential uses in the Project fall under the maximum threshold of 2 percent of residential property values and indicates Project feasibility. The results of this feasibility analysis are the same for all phases since it is based on the same assumptions regarding average home values and total taxes and assessments across the entire Project.

Chapter 6 details this feasibility analysis test for the entire Project.

Financing Options Implementation
Going forward, the City is anticipated to take an active role in implementing the SEDA Specific Plan, establishing the recommended financing mechanisms, and collaborating with Project developers to ensure compliance with Specific Plan and City General Plan policies, the latter of which is described in Chapter 7. The goal of the Financing Options report is to provide options to fully fund or construct all backbone infrastructure and other public facilities needed to serve the entire Project and to phase backbone infrastructure and other public facility improvements to ensure they are constructed when necessary for new development and when funds are available to construct such public improvements.

Implementation of project financing would take place following the City’s consideration of financing options and eventual refinement and selection of financing mechanisms. The City would administer the Project financing, which would include the following actions:
• E nsure all infrastructure improvements have been identified to serve Proje ct la
nd uses.
• I dentify an infrastructure phasing strategy that prioritizes infrastructure construction according to logical development patterns. • S ecure any required right -of-way and public facility sites (e.g., parks). • U pdate relevant existing fee programs with current Project land uses, facilities, or revenue contributions.

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• Wo rk with the Project developers to determine the viability of the differen t f
inancing mechanisms, including a SEDA Fee Program, a Mello-Roos CFD, an EI
FD, an infrastructure charge, and private developer funding. • I mplement the selected financing mechanisms (e.g., SEDA Fee Program, Mello-Roos CFD).
• A s development occurs, i nitiate annexation proceedings with the Fresno Local A
gency Formation Commission (LAFCO) to annex portions of the Project into the City and other districts, as needed, with property owner consultation. To the extent that portions of the Project do not annex into the City, these areas co
uld have different service providers and levels of services for many municipal services. In addition, if new development occurred in unannexed Project areas, this development would not be required to participate in City fee programs, which may result in reduced fee program revenues generated by
the Project than currently assumed, although there may be corresponding changes to infrastructure obligations.
• A s development occurs, initiate annexation proceedings, with property owner consultation, to annex portions of the Project into the City’s CFD No. 9 and C
FD No. 11. CFD No. 9 and CFD No. 11 were established for all new d
evelopment to fund ongoing operations and maintenance services for roadways, pocket parks, neighborhood parks and trails. CFD No. 9 serves multifamily residential, commercial, and industrial developments, while CFD No. 11 serves single-family residential developments. The special tax rates for CFD No. 9 and CFD No. 11 vary by development project and associated Facilities to be maintained. Portions of the Project that do not annex into the City would not be annexed into CFD No. 9 or CFD No. 11, which would resul t
in
varying levels of service to development in SEDA.
• E stablish a mechanism for interim funding of the “oversized” facilities and paying, reimbursing, or providing fee credits against these costs as su
bsequent development occurs.
• D evelop standard business terms for Development Agreements (DAs). • D evelop standard conditions for subdivision maps and other Project approva ls th
at incorporate SEDA-specific backbone infrastructure and public facility requirements.
• D evelop standard agreements and terms for backbone infrastructure and public facility credit and reimbursement agreements that may be entered into with Project developers.

The financing mechanisms chosen to implement the Project should be updated periodically to account for changes in land use, infrastructure, or cost information and available funding sources within the context of the overall financing strategy to ensure required funding is available when needed.

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Organization of the Report
In addition to this introduction and summary chapter, the Financing Options report contains the following chapters:
• C hapter 2 summarizes the proposed land uses.
• C hapter 3 provides an overview of the SEDA Facilities financing strategy options and likely funding sources.
• C hapter 4 identifies the Facilities costs, financing strategy options, and f
unding sources for Predevelopment Phases 1S and 1N.
• C hapter 5 identifies the Facilities costs, financing strategy options, and f
unding sources for Phases 1S and 1N.
• C hapter 6 identifies the Facilities costs, financing strategy options, and f
unding sources for Phases 2 and 3 and buildout.
• C hapter 7 identifies the policies guiding the Financing Options report.

This Financing Options report also includes the following appendices:
• A ppendix A: Detailed Land Use Summary
• A ppendix B : Supporting Calculations for Facilities Cost Estimates • A ppendix C : Supporting Calculations for Exisiting Fee Programs Revenue and S
EDA Special Financing District Funding
• A ppendix D: Estimated Maximum Special Tax Revenue and Bond Sizing SEDA Specific Plan Public Facilities Financing Options
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Project Land Uses, Population, and
Employees
SEDA comprises approximately 8,800 acres, or 13.75 square miles. The entire Project is located outside the city limits but in the City of Fresno (City) Sphere of Influence (SOI), which is the adopted limit for future growth. The Project consists mostly of vacant land, open space, and agricultural land, but it also includes nearly 2,000 acres of existing rural residential development that is expected to remain. It is assumed that portions of SEDA will annex into the City over time as the Project develops.

Refer to Map 1 in the previous chapter for the regional location of the project and to Map 2, also in the previous chapter, for illustrations of the planned land uses and development phasing. The remainder of this chapter details SEDA’s land use plan, phasing plan, and projected new development, population, and employees.

La nd Uses
As illustrated in Map 2, SEDA is expected to develop in four phases. The first development phase (Phase 1) is a combination of Phase 1S and Phase 1N, the areas in the southernmost and northernmost portions of the Project. Phase 1S is being planned to develop first, based on financial feasibility results and the availability of infrastructure and community amenities. Phase 1S development will be followed by development in the remaining phases. Table 1 in the previous chapter summarizes the new development potential for Phases 1S, 1N, 2 and 3 combined, and at buildout. Note that the estimated new development excludes the approximately 1,955 acres and 650 dwelling units of existing rural residential development that is expected to remain in the Project.

For this Financing Options report, the proposed land uses are described as Developable and Public/Quasi-Public uses. Developable land uses include private residential and nonresidential uses and indicate the uses that will be required to provide funding for their fair share of Facilities costs through participation in existing fee programs and the proposed SEDA Special Financing District, which could include a SEDA Fee Program, a Mello-Roos CFD, or other funding mechanisms.

Public/Quasi-Public land uses include all other land uses that will not be required to participate in the proposed SEDA Special Financing District. These uses are divided into civic development, parks, flood control basins, and right-of-way. Civic development includes City or other public agency facilities (e.g., water and sewer facilities, fire station, schools, recreation facilities), as well as quasi-public facilities, such as hospitals, private schools, and places of worship.

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The SEDA development projections in Table 1 are based on detailed SEDA land use data provided by the City in May 2023. The land use data and calculations are included in Appendix A. The SEDA land use plan provided by the City includes a wide variety of residential, mixed-use, nonresidential, and public/quasi-public land uses that have been summarized into the following categories:
• R esidential
‒ Single Family Low Density
‒ Single Family Medium Density
‒ Multifamily
• N onresidential
‒ Commercial Retail
‒ Commercial Office
‒ Light Industrial
• Pu blic/Quasi -Public
‒ Civic
‒ Parks
‒ Flood Control Basin
‒ Right-of-Way
Developable Land Uses
Phase 1 includes the capacity for nearly 17,000 new dwelling units and 5.0 million square feet of new retail, office and industrial buildings. Phases 2 and 3 include approximately 25,000 dwelling units and 6.2 million square feet of new retail, office, and industrial buildings. At buildout, consistent with the Fresno General Plan, SEDA would include approximately 42,000 new dwelling units and 11.2 million square feet of new retail, office, and industrial development.

Residential Development
SEDA will contain a mix of single family and multifamily residential development.

Both the single family and multifamily development is planned to be relatively dense, with an average of 18.25 units per net developable acre for single family units and 30.60 units per net developable acres for multifamily units. Overall, at buildout, it is expected that residential development will consist of close to one-half single family and one-half multifamily units.

The projected mix of dwelling units for each development phase analyzed in this Financing Options report is summarized in the table below:

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Table 3 Projected New Dwelling Units Summary
Nonresidential Development
SEDA will contain a mix of retail, office, and industrial uses. Overall, at buildout, it is projected that retail and office development will account for approximately three-quarters of the nonresidential development, with industrial development accounting for the remaining quarter. The approximate projected mix of nonresidential square feet for each development phase analyzed in this Financing Options report is summarized in the table below:

Phase
Dwelling
Units Pct.

Phase 1N
Single Family 6,202 58%
Multifamily 4,412 42%
Total 10,614
Phase 1S
Single Family 3,209 50%
Multifamily 3,153 50%
Total 6,362
Phase 1 Total (1N and 1S) 9,411 55%
Single Family 7,565 45%
Multifamily 16,976
Total
Phases 2 and 3
Single Family 11,917 48%
Multifamily 12,946 52%
Total 24,862
Buildout
Single Family 21,327 51%
Multifamily 20,511 49%
Total 41,838
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Table 4 Projected New Nonresidential Building Square Feet Summary Public/Quasi-Public Land Uses
As discussed above, a number of different public and quasi-public land uses are planned in SEDA. Phase 1 includes approximately 967 net developable acres of new public and quasi-public development and 3.6 million building square feet of civic facilities. Phases 2 and 3 include approximately 747 net developable acres of new public and quasi-public development and 1.9 million building square feet of civic facilities. At buildout, SEDA is expected to have approximately 1,714 net developable acres of new public and quasi-public development and 5.5 million building square feet of civic facilities.

Phase
Building
Square Feet Pct.

Phase 1N
Retail 0.7 Million 75%
Office 0.2 Million 25%
Industrial - 0%
Total 1.0 Million
Phase 1S
Retail 1.0 Million 24%
Office 1.2 Million 30%
Industrial 1. 8 Million 45%
Total 4.0 Million
Phase 1 Total (1N and 1S)
Retail 1.7 Million 34%
Office 1.5 Million 29%
Industrial 1. 8 Million 36%
Total 5.0 Million
Phases 2 and 3
Retail 2.6 Million 42%
Office 2.5 Million 40%
Industrial 1. 1 Million 18%
Total 6.2 Million
Buildout
Retail 4.3 Million 39%
Office 3.9 Million 35%
Industrial 2. 9 Million 26%
Total 11.2 Million
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Population and Employees
Table 2 in the previous chapter details the expected population and employees to be generated by the residential, nonresidential, and civic development in SEDA.

The persons per household factors used to estimate population were developed using U.S. Census Bureau data. The square feet per employee factors used to estimate employees were provided by the City in May 2023. At buildout, it is anticipated that SEDA will have almost 118,000 new residents and over 36,000 new employees.

The estimated population and employees generated by each development phase analyzed in this Financing Options report are summarized in the table below:

Table 5 Projected New Population and Employees Summary
Phase Population Employees
Phase 1N 30,632 6,042
Phase 1S 17,841 12,397
Phase 1 Total (1N and 1S) 48,473 18,439
Phases 2 and 3 69,088 17,701
Buildout 117,561 36,139

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Financing Options and Funding Sources
This chapter outlines SEDA’s financing options and describes how a combination of private and public funding sources may be used to fund the backbone infrastructure and public facilities required to serve SEDA. Funding sources are identified for discussion purposes and to guide subsequent analytical efforts. Chapters 4, 5, and 6 focus on the costs and funding for individual development phases.

Financing Options Overview
SEDA developers would be responsible for funding or constructing all backbone infrastructure and public facilities needed to serve the Project. In many cases, particularly in the early stages of each development, SEDA developers would be required to construct or fund more than the proportionate share of improvements for facilities serving a given development phase. Reimbursement mechanisms would allow for repayment to SEDA developers for advance-funding of facilities included in fee programs, subject to the City and special district fee credit and reimbursement policies. Private financing would be used to fund subdivision infrastructure costs.

Backbone infrastructure and public facilities required for development to proceed in SEDA are anticipated to be funded through a combination of public and private financing. The recommended financing options include the following key elements:
• Fund eligible improvements through existing City, County, and special district fee programs. These existing fee programs are summarized below:
- City Development Impact Fee Programs. The City has adopted the following fee programs that could fund or partially fund many of the needed Facilities in SEDA:
» Water: Water Capacity Fee
» Sewer: Oversize Sewer Charge and Wastewater Facilities Sewer Charge
» Police: Police Facilities Fee
» Fire: Fire Facilities Fee
» Parks: Parks Facility Fee and Quimby Parkland Dedication Fee Note that the City has Major Streets and Traffic Signal fee programs to fund transportation and signal improvements. SEDA currently does not participate in those fee programs but could be included in the future.

In addition, the City plans to establish a Trunk Sewer fee for the Temperance Trunk Service Area that will be charged to SEDA SEDA Specific Plan Public Facilities Financing Options
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development. As this fee has not yet been developed, no Trunk Sewer Fees have been included in this Financing Options report. - Fresno Metropolitan Flood Control District Drainage (FMFCD) Fee.

The FMFCD fee funds stormwater drainage basins and pipeline needed to serve development.
- Clovis Unified School District (Clovis USD) and Sanger Unified School District (Sanger USD) Fees. SEDA development is split between the Clovis USD and the Sanger USD. Each school district has a fee program that funds school facilities in the district.
• Use private developer funding as needed through debt, equity, or a combination of both. Private developers will be responsible for funding and/or constructing all backbone infrastructure and public facilities needed to serve the Project. In many cases, particularly in the early stages of each development, private developers would be required to construct or fund more than the proportionate share of improvements for facilities serving a given development phase. Credit and Reimbursement mechanisms through a SEDA Fee Program or reimbursement agreement would allow for repayment to private developers for advance-funding of facilities included in fee programs, subject to the City, County, and special district fee credit and reimbursement policies.
• Identify funding and financing opportunities through public-private partnerships (PPPs) to the extent possible. PPPs are collaborative agreements between government entities and private sector entities that address financing, designing, implementing, and operating projects that serve the public. These partnerships combine public oversight with private sector investment, innovation, and operational expertise. In a typical PPP, the private partner may finance, design, build, operate, and/or maintain a facility, while the public agency retains ownership and ensures the project meets public needs. PPPs are often used for transportation, water systems, public buildings, and other infrastructure where shared risk and performance-based outcomes can improve efficiency and reduce public costs. • Fund Project-specific improvements not currently funded through existing and other proposed financing mechanisms through a new Special Financing District. The Special Financing District would generate revenue through fees, taxes, and other sources charged to SEDA developers and new SEDA homeowners and business owners. The Special Financing District may include one or more of the following funding mechanisms:
- Plan Area Fee Program (hereafter referred to as the SEDA Fee Program). A fee program is an ordinance-based one-time development impact fee (adopted pursuant to Government Code Section 66000) that would be charged to new development (i.e., Project developers) in SEDA at issuance of a building permit or other construction document.

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- Mello-Roos CFD. A CFD could be used on a PAYGO basis or could be used to issue debt supported by annual special taxes charged to private development in the Project. Any improvements funded by the CFD would be deducted from the SEDA Fee Program obligations.
- Enhanced Infrastructure Financing District (EIFD). An EIFD is a type of tax increment financing that utilizes property and/or sales tax revenue paid by SEDA development to fund Project improvements. An EIFD may be used on a PAYGO basis or could be used to issue debt supported by annual EIFD revenue.
- Other Infrastructure Charge. An infrastructure charge is a fair-share cost obligation for each Project developer that is related to Project infrastructure requirements and identified as a condition of approval.

Land-secured debt financing may be used to reimburse Project developers for Facilities constructed before the availability of PAYGO funding. Land-secured debt financing, if used, will likely be provided through a Mello-Roos CFD. • Seek local, regional, State of California (State), and federal grant funding sources to the extent possible.
• Build in flexibility to respond to changing market conditions and ensure long-term viability as development timing, costs, and revenues fluctuate. This can be achieved by phasing infrastructure investments to align with actual development activity, incorporating periodic updates and triggers to revise cost estimates and revenue assumptions, and including contingency funding mechanisms—such as special tax escalators or deferred improvements—to address potential shortfalls. A flexible plan also leverages a mix of financing tools, including impact fees, community facilities districts, and grants, to adapt to changes in market demand or public funding availability. Additionally, scalable infrastructure design allows improvements to be adjusted as needed based on real-world development patterns, maintaining both fiscal stability and service levels.

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Sources of Funding
As summarized above, several funding mechanisms will be needed to fund the backbone infrastructure and public facilities required to serve the Project. The actual funding sources and financing mechanisms used will depend on the type of facility, when the facility is needed, and the phasing of facility construction. This section provides additional detail on existing development fee programs and a potential Special Financing District as they apply to SEDA.

Existing City and Other Agency Development Impact Fees
The City, County, FMFCD, Clovis USD, and Sanger USD have existing ordinance- based development impact fees and connection charges. Many of these fees and charges will be fully applicable in SEDA. In some instances, the Project would fully fund its fair share of improvement costs through existing fee programs. A detailed breakdown of total revenues generated by new development by phase in the Project is provided in Table C-2 of Appendix C.

Private Developer Funding
SEDA developers will be responsible for funding or constructing all backbone infrastructure and public facilities needed to serve the Project. To the extent possible, some infrastructure may be funded through other sources initially, although it is anticipated that private developer funding will be used as reimbursement. Conversely, private developer funding may be required to advance fund improvements until such time that other revenues are available to reimburse the funding party, if applicable. The precise sequence of public improvements and private development will depend on market conditions and available funding. If private funding is not available for key infrastructure, it may limit the pace of allowable development.

Potential SEDA Special Financing District
The Financing Options report identifies that, in some cases, fee revenues collected from existing fee programs and other funding mechanisms outlined in the following section would be insufficient to cover the total cost of backbone infrastructure and public facilities required for the Project. In fact, for certain types of improvements (e.g., Class I Trails), there are no existing fee programs to help fund the improvements. For these reasons, the Financing Options report proposes consideration of a new publicly administered SEDA Fee Program, as well as a Mello-Roos CFD or an EIFD to bridge any funding gaps that may exist. Each of these potential funding mechanisms to be included in a SEDA Special Financing District are described below.

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Plan Area Fee Program
A fee program is an ordinance-based development impact fee (adopted pursuant to Government Code Section 66000) that would be charged to new development in SEDA. Infrastructure funded by the Project is to be constructed to the standards of—and ultimately approved, accepted, and maintained by—the respective agencies such as the City, County, special agency, or developer as determined by discussions between relevant parties.

A SEDA Fee Program provides a flexible framework for infrastructure financing that must be updated periodically to ensure anticipated cost increases for items in the Project are properly reflected. The update process would also need to reflect changes in the land use program as development proceeds in the Project. The update process should include an annual indexing to reflect cost inflation and periodic reviews of the entire program.

Mello-Roos CFD
The City may be amenable to forming a CFD, which could issue debt supported by special taxes charged in the Project. Similar to a SEDA Fee Program, a CFD would offer flexibility to developers, individually or as a whole, to obtain public financing for infrastructure. Any improvements funded by the CFD would be deducted from Fee Program obligations.

CFD debt is supported by special taxes charged to development in the CFD.

Clearly, debt capacity is a function of the amount and value of development; in the early years, debt capacity will be limited, but as SEDA develops, more capacity will be created. The CFD may provide a funding source for the construction of critical backbone infrastructure, the acquisition of improvements, and the repayment of costs invested by developers or the City required to initiate development.

Mello-Roos CFD Bonding Capacity
As shown in Appendix D, this Financing Options report estimates the total maximum special tax revenue generated through a CFD and the corresponding bonding capacity for the Project by phase.

The preliminary CFD maximum annual special tax rates are detailed in Appendix D and are estimated as the maximum additional property tax burden that development could support given other existing and proposed property taxes. The Two-Percent Total Taxes and Assessments Test is employed to estimate these CFD maximum special tax rates, as detailed in Chapter 6. The potential bonding capacity by phase is based on the projected development and maximum tax rates by phase.

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It is important to note that any initial bond issues will be constrained by various factors, including the appraised value of land in the CFD at the time bonds are sold. Several bond sales would occur as development of the Project progresses and security can be demonstrated for the bonds. It is also important to note that the bonding capacity estimates are preliminary, based on current financing assumptions, and are subject to revision once a land-secured financing mechanism is implemented.

EIFD
The City could also consider forming an EIFD, a type of tax increment financing that offers several advantages and should be used with complementary funding sources (e.g., a CFD). EIFDs do not represent a new tax to property owners and have been easy to approve pending affected taxing entity approval. In addition, EIFDs do not encumber existing public agency resources, can attract tax increment contributions from other taxing entities (e.g., Fresno County) if a benefit to that taxing entity can be demonstrated, can increase priority for certain grant funding opportunities, can fund a broad range of infrastructure, affordable housing, and ongoing maintenance costs, and have the potential to catalyze private sector development following infrastructure investments.

EIFDs may be initiated by any affected taxing authority, including a city, a county, or a special district, and are governed by an Infrastructure Financing Plan. EIFDs require taxing authorities to set aside a portion of property and sales tax revenue generated by the Project to fund Project improvements. Specifically, taxing authorities can devote a portion of their share of property and sales taxes, as well as property tax received in lieu of vehicle license fees to fund the Project improvements. EIFDs may be used for the purchase, construction, or improvement of any real property with a useful life of at least 15 years inside or outside the district. Eligible uses of EIFD funding must be public capital facilities or other specified projects of “communitywide significance” that provide significant benefits to the district or the surrounding community. Below are some examples of allowable projects:
• Highways, interchanges, ramps and bridges, arterial streets, parking facilities, and transit facilities.
• Sewage treatment and water reclamation plants and interceptor pipes. • Facilities for the collection and treatment of water for urban uses. • Flood control levees and dams, retention basins, and drainage channels. • Childcare facilities, libraries, parks, recreational facilities, and open space. • Facilities for the transfer and disposal of solid waste, including transfer stations and vehicles.
• Brownfield restoration and other environmental mitigation.

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• A cquisition, construction, or rehabilitation of housing for persons of low and m
oderate income.
• A cquisition, construction, or repair of industrial structures for private use.

Credit and Reimbursement Agreements
A Mello-Roos CFD, SEDA Fee Program, EIFD, and existing City and other agency fee programs provide for private construction of infrastructure items and a source of funding for any related “oversizing” that may be completed by a particular developer (construction of improvements above and beyond their allocated “proportional share”). Reimbursements for oversizing will be handled through the appropriate fee program, reimbursement agreement, or developer cost-sharing agreement.

Proposed Operating and M aintenance
Funding
This Financing Options report addresses funding for construction of backbone infrastructure and public facilities with the purpose of ensuring sufficient funding is available to cover the cost of facilities required to serve the Project. Similarly, the constructed facilities also would require a source of ongoing operations and maintenance funding.

Existing Citywide Services Funding Mechanisms
The City has established the following mechanisms to fund ongoing operations and maintenance for roadway and park improvements in SEDA, as described below:
• City Community Facilities Districts No. 9 and 11. CFD No. 9 and CFD No. 11 were established for all new development to fund ongoing operations and maintenance services for roadways, pocket parks, neighborhood parks and trails. CFD No. 9 serves multi-family residential, commercial, and industrial developments, while CFD No. 11 serves single- family residential developments. The special tax rates for CFD No. 9 and CFD No. 11 vary by development project and associated Facilities to be maintained.

Based on recent conversations with the City’s Public Works Department, preliminary annual special tax rates for CFD-11 have been estimated on average at $630 per single family unit. CFD No. 9 annual special tax rates have been estimated at $473 per multifamily unit (75 percent of the single family rate). The actual special tax rate for each CFD annexation imposed on new development in the Project may vary.

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To the extent that additional funding is required to fully mitigate annual operations and maintenance costs, additional funding mechanisms may be considered, including an additional CFD for services or an EIFD.

In 2018, the State passed amending legislation to also allow ongoing maintenance costs to be funded with EIFDs. Senate Bill 1145 (2018) authorizes a district to finance the ongoing or capitalized costs to maintain public capital facilities financed in whole or in part by the district but prohibits the use of proceeds of bonds issued to finance maintenance. That is, maintenance, if funded through an EIFD, must be funded by PAYGO EIFD tax revenue not needed to pay bond debt.

Actual mechanisms required to fund ongoing operations and maintenance in the Project will be determined before any approval of entitlements for the Project.

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Predevelopment Phases
This chapter analyzes the costs and potential funding sources of predevelopment phases for Phases 1S and 1N (Predevelopment Phase 1S and Predevelopment Phase 1N, respectively) during which core backbone infrastructure must be completed before any residential or nonresidential development can begin. It is anticipated that Phase 1S infrastructure will be constructed first due to financial feasibility and the proximity of infrastructure and community amenities. This chapter includes an identification of required Facilities to be constructed during the predevelopment phases, the estimated costs for these Facilities, identification of funding for the Facilities, and an estimated cash flow analysis that identifies funding shortfalls or surpluses.

Summary of Predevelopment Phase
Facilities
The City identified certain backbone infrastructure items that must be constructed during the predevelopment phases before the start of any residential or nonresidential development. It is assumed that no public facilities will be required in the predevelopment phases. The following types of backbone infrastructure for which SEDA will have construction and financing responsibility are required in the predevelopment phase:
• Potable Water
• Sewer
• Transportation
Facilities Costs
Table 6 provides a summary of Facilities costs by Facility type for Predevelopment Phase 1S and Predevelopment Phase 1N, and Appendix B provides the detailed Facilities cost estimates by phase. In general, the required Predevelopment Phase 1S improvements must be constructed prior to residential and nonresidential development beginning in Phase 1S; likewise, the required Predevelopment Phase 1N improvements must be constructed prior to residential and nonresidential development beginning in Phase 1N. The one exception is that some of the sewer improvements shown in Predevelopment Phase 1S must be constructed prior to development beginning in either Phase 1S or Phase 1N. These improvements are noted in Table B-3 and total approximately $44 million, including contingencies and soft costs.

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Table 6 Backbone Infrastructure Cost Summary - Predevelopment (2025$)

Table 6 excludes the costs of in-tract and other subdivision-specific improvements, which will be privately financed. The Facilities cost estimates are high-level and preliminary and will be revised as backbone infrastructure and public facilities design occurs. Predevelopment Phase 1S costs are estimated at $62 million, and Predevelopment Phase 1N costs are estimated at $223 million, for a total of $285 million for the two predevelopment phases combined.

In some cases, SEDA developers may be required to both construct and finance facilities and to participate in fee programs that include those facilities (e.g., potable water, fire, police, and parks). In those cases where SEDA developers construct and provide advance funding for improvements included in a development impact fee program, the developers may enter into credit and reimbursement agreements with the City or other jurisdiction to receive fee credits and reimbursement funding from the particular fee program.

Backbone Infrastructure
As detailed in Chapter 1, the Project engineers (Blair, Church, & Flynn) and the City Department of Public Utilities provided all backbone potable water, recycled water, and sewer facility requirements and cost estimates. The City Public Works Department provided transportation improvement requirements and cost estimates. The Project engineers and FMFCD provided stormwater facility requirements and cost estimates.

Improvement Source Phase 1N [1] Phase 1S Total
Backbone Infrastructure
Potable Water [2] Table B-1 $103,304,000 - $103,304,000 Recycled Water - - -
Sewer [2] Table B-3 $64,449,000 $53,123,000 $117,572,000 Storm Drainage - - -
Transportation [3] Table B-5 $55,000,000 $8,531,000 $63,531,000 Subtotal Backbone Infrastructure $222,753,000 $61,654,000 $284,407,000 Source: City of Fresno; Blair, Church, & Flynn; EPS.
[1] If Phase 1N develops before Phase 1S, approximately $44.3 million in sewer costs would shift from Predevelopment Phase 1S to Predevelopment Phase 1N for the backbone sewer infrastructure along North Avenue and the southern portion of Temperance Avenue contiguous to Phase 1S.
[2] Predevelopment costs from City Department of Public Utilities as of March 2025. [3] Predevelopment costs from City Department of Public Works as of March 2025.

Table
Reference
Estimated Predevelopment Cost
(Rounded)
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Potable Water
Table B-1 in Appendix B details the potable water facilities costs by phase. The potable water improvements required in the predevelopment phases include wells, water mains, storage tanks, and booster pump stations. There are no predevelopment potable water costs for Predevelopment Phase 1S. The total estimated cost of the potable water improvements required for Predevelopment Phase 1N is approximately $103 million. A portion of these costs will be funded with revenue generated by SEDA development through the Water Capacity fee program with the remainder likely to be funded through the proposed SEDA Special Financing District.

Sewer
Table B-3 in Appendix B details the sewer facilities costs by phase. The sewer improvements required in the predevelopment phases include a series of gravity sewer lines. The total estimated cost of the sewer improvements required for Predevelopment Phase 1S is approximately $53 million, and the total estimated cost of the improvements required for Predevelopment Phase 1N is approximately $64 million. A portion of these costs would be funded by revenue generated by SEDA development through the Wastewater Facilities Sewer Charge and Oversize Sewer Charge programs with the remainder likely to be funded through the proposed SEDA Special Financing District.

Note that if Phase 1N develops before Phase 1S, backbone sewer infrastructure along North Avenue and the southern portion of Temperance Avenue contiguous to Phase 1S will be required in Predevelopment Phase 1N instead of Predevelopment Phase 1S, which will shift approximately $44.3 million in costs from Predevelopment Phase 1S to Predevelopment Phase 1N.

Transportation
Table B-5 in Appendix B details the transportation facilities costs by phase. The transportation costs include right-of-way acquisition and construction costs. The Predevelopment Phase 1S required improvements consist of right-of-way acquisition for and construction of Fowler Avenue from Lone Star to Jensen Avenue at an estimated cost of $8.5 million. The Predevelopment Phase 1N required improvements consist of widening Temperance Avenue to four lanes from SR 180 to Clinton Avenue at an estimated cost of $55 million.

SEDA is excluded from participation in the City transportation fee programs (Major Streets and Traffic Signal fee programs) but could be included in the future. For the purposes of this Financing Options report, it is assumed that SEDA will continue to be excluded from these fee programs and will be required to fund all of its own transportation costs, which will likely occur through the proposed SEDA Special Financing District.

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Funding Sources
Chapter 3 provides an overview of the potential funding sources for SEDA Facilities. This chapter provides specifics on the likely funding sources for Predevelopment Phases 1S and 1N.

Table 7 summarizes the estimated costs and funding by funding source for required SEDA Facilities for the two predevelopment phases. As shown in this table, the major Facilities in the predevelopment phases could be funded through a combination of public and private financing.

The funding is split between existing development impact fee programs and a proposed SEDA Special Financing District. The amounts shown as funded by each of these sources are the estimated eventual amounts that will be funded by revenue generated by development in the entire Project. Funding from other potential public and private sources could result in a reduction of costs to be funded by the SEDA Special Financing District. These sources could include City advance-funding, PPP funding, private developer funding, interfund borrowing, grant funding, and other sources.

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Table 7 Estimated Sources and Uses - Predevelopment (2025$) Improvement
Existing City
DIF Pct. Of
Total Cost [2]
Estimated
Cost
Existing
City DIF
Programs [3]
Existing
Regional DIF
Programs [4]
State and
Local Grants
SEDA Special
Financing
District [5]
Private
Developer/
Other [6]
Table Reference Table C-5 Table 6
Formula A B C=A*B D E F=B-(C+D+E)
Predevelopment Phase 1N
Backbone Infrastructure
Potable Water 27% $103,304,000 $27,553,000 - - $75,751,000 X Recycled Water 0% - - - - - X
S
ewer [7] 19% $64,449,000 $12,116,000 - - $52,333,000 X Stormwater Drainage 12% - - - - - X
T
ransportation 0% $55,000,000 - - - $55,000,000 X
Subtotal Backbone Infrastructure $222,753,000 $39,669,000 - - $183, 084,000 Predevelopment Phase 1S
Backbone Infrastructure
Potable Water 27% - - - - - X
Rec
ycled Water 0% - - - - - X
S
ewer 19% $53,123,000 $9,986,000 - - $43,137,000 X
Stormwater Drainage 12% - - - - - X
T
ransportation 0% $8,531,000 - - - $8,531,000 X
Subtotal Backbone Infrastructure $61,654,000 $9,986,000 - - $51,668,000 Total Predevelopment Phase
Backbone Infrastructure
Potable Water $103,304,000 $27,553,000 - - $75,751,000 X Recycled Water - - - - - X
S
ewer $117,572,000 $22,102,000 - - $95,470,000 X
Stormwater Drainage - - - - - X
T
ransportation $63,531,000 - - - $63,531,000 X
Subtotal Backbone Infrastructure $284,407,000 $49,655,000 - - $234, 752,000 Source: City of Fresno; Blair, Church, & Flynn; EPS.
[1] B
ecause SEDA will not generate any revenue in the predevelopment phase, funding sources identified represent eventual sources.

Upf
ront capital will be needed to finance needed facilities. Various sources include public private partnerships, interfund borrowing, and ot
her sources. See Table 8 for more details on the cash flow of costs and revenues available for the predevelopment phase. [2] Cal
culated as percentage of SEDA costs funded by existing City fee programs at buildout. See Table C-5. [3] E
xisting City development impact fee programs anticipated to provide funding for SEDA improvements:
• P
otable Water: Water Capacity Charge
• S ewer : Oversize Sewer Charge and Wastewater Facilities Sewer Charge • P olice Facilities : Police Facilities Fee
• F
ire Facilities: Fire Facilities Fee
• Pa rks : Parks Facility Fee, Quimby Parkland Dedication Fee [4] Existing regional development impact fee programs anticipated to provide funding for SEDA improvements:
• S
tormwater Drainage: Fresno Metropolitan Flood Control District Drainage Fee • S
chools: Clovis USD and Sanger USD School Facilities Fees [5] A
SEDA Special Financing District may include one or more of the following funding sources:
• P
lan Area Fee Program
• M
ello-Roos Community Facilities District (CFD)
• E nhanced Infrastructure Financing District
• O ther Infrastructure Charge Program
[6] I
f private developer and other funding, such as state or local grants, is obtained, the costs for the SEDA Special Financing District c
ould be reduced.
[7] I
f Phase 1N develops before Phase 1S, approximately $44.3 million in sewer costs would shift from Predevelopment Phase 1S t
o Predevelopment Phase 1N for the backbone sewer infrastructure along North Avenue and the southern portion of Temperance A
venue contiguous to Phase 1S.

Funding Sources [1]
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Cash Flow Analysis
Table 8 provides a cash flow analysis that summarizes the estimated costs, funding shortfalls, and potential shortfall funding sources for the predevelopment phases. This analysis addresses the timing of available funding through the identified sources discussed in the previous section (existing development impact fee programs and the SEDA Special Financing District) and estimates the funding surplus or shortfall for the different types of Facilities by comparing the Facilities cost to the revenue available during that phase.

Because there is no development associated with the predevelopment phases, there are also no associated revenue sources. Consequently, all costs incurred are shown as shortfalls. Upfront capital will be required to finance the required Facilities and could be generated through various private and public sources such as City advance-funding, PPP funding, private developer funding, interfund borrowing, grant funding, and other sources.

The provided shortfall funding from the City or other entities could be reimbursed after enough revenue is generated through the existing development impact fee programs and the SEDA Special Financing District to fully cover the cost of the improvements.

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Table 8 Estimated Cash Flow - Predevelopment (2025$)
Improvement
Estimated
Cost
Existing
City DIF
Programs
Existing
Regional DIF
Programs
State and
Local Grants
SEDA Special
Financing
District Total
Surplus/
(Shortfall)
Funding Sources
for Shortfall
Predevelopment Phas e 1N
Backbone Infrastructure
Potable Water $103,304,000 - - - - - ($103,304,000) City advance funds [1] Recycled Water - - - - - - -
Sewer [2] $64,449,000 - - - - - ($64,449,000) City advance funds [1] Stormwater Drainage - - - - - - -
Transportation $55,000,000 - - - - - ($55,000,000) City advance funds [1] Subtotal Backbone Infrastructure $222,753,000 - - - - - ($222,753,000) Predevelopment Phas e 1S
Backbone Infrastructure
Potable Water - - - - - - -
Recycled Water - - - - - - -
Sewer $53,123,000 - - - - - ($53,123,000) City advance funds [1] Stormwater Drainage - - - - - - -
Transportation $8,531,000 - - - - - ($8,531,000) City advance funds [1] Subtotal Backbone Infrastructure $61,654,000 - - - - - ($61,654,000) Total Predevelopment Phase
Backbone Infrastructure
Potable Water $103,304,000 - - - - - ($103,304,000) Recycled Water - - - - - - -
Sewer $117,572,000 - - - - - ($117,572,000)
Stormwater Drainage - - - - - - -
Transportation $63,531,000 - - - - - ($63,531,000) Subtotal Backbone Infrastructure $284,407,000 - - - - - ($284,407,000) Source: City of Fresno; Blair, Church, & Flynn; EPS.
[1] The City will obtain funding through various sources such as interfund borrowing, public private partnerships, potential grans, and other available sources. The City may eventually be reimbursed for some advance funding through revenue from existing Citywide fee programs, the SEDA Special Financing District, or other sources. [2] If Phase 1N develops before Phase 1S, approximately $44.3 million in sewer costs would shift from Predevelopment Phase 1S to Predevelopment Phase 1N for the backbone sewer infrastructure along North Avenue and the southern portion of Temperance Avenue contiguous to Phase 1S.

Funding Sources
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Phases 1S and 1N
This chapter analyzes the remaining costs after Predevelopment, along with potential funding sources, and financial feasibility of Phases 1S and 1N, the areas located in the southern and northern most portions of the Project. These two phases together comprise Phase 1. It is anticipated that Phase 1S will be developed first due to financial feasibility and the proximity of infrastructure and community amenities. A financial feasibility analysis has been prepared for each area separately and for both areas combined. Each analysis includes an identification of required Facilities to be constructed during the phase, the estimated costs for these Facilities, identification of funding for the Facilities, an estimated cash flow analysis that identifies funding shortfalls or surpluses, and a cost burden analysis that assesses the financial feasibility of the phase.

Summary of Phase 1 Facilities
The SEDA Facilities for which Phase 1 will have construction and financing responsibility are summarized below. Note that there are no sewer improvements or costs associated with Phase 1S, as all of the Phase 1S improvements were identified as being required during Predevelopment Phase 1S.

Backbone Infrastructure Public Facilities
• Potable Water • Parks
• Recycled Water • Fire
• Sewer • Police
• Storm Drainage • Transit
• Transportation • Schools
• Community Centers
Facilities Costs
Table 9 provides a summary of Facilities costs by Facility type for Phase 1S and Phase 1N after Predevelopment, and Appendix B provides the detailed Facilities cost estimates by phase for the costs provided by Project engineers and the City, which are the majority of the costs. For fire, police, and school facilities, however, existing development impact fee program revenue generated by SEDA development is used to estimate costs. Appendix C details the estimated revenue from existing development impact fee programs. The costs of in-tract and other subdivision-specific improvements will be privately financed and are excluded from Table 9.

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Table 9 Backbone Infrastructure and Public Facilities Cost Summary - Phase 1 After Predevelopment (2025$)

Improvement Note Phase 1N P hase 1S Phase 1 Total
Backbone Infrastructure
Potable Water [1] Table B-1 $380, 817,000 $64,148,000 $444,965,000 Recycled Water [1] Table B-2 $148,356,000 $4,571,000 $152,927,000 Sewer [1] Table B-3 $177,116,000 - $177,116,000
Storm Drainage [2] Table B-4 $63,001,000 $68,580,000 $131,581,000 Transportation [3] Table B-5 $161,482,000 $120,017,000 $281,499,000 Subtotal Backbone Infrastructure $930,772,000 $257,316,000 $1, 188,088,000 Public Facilities
Police [4] Table C-2 $9, 995,000 $8,045,000 $18,040,000 Fire [5] Table C-2 $22,626,000 $14,987,000 $37,613,000
Parks [6] Table B-6 $316,321,000 $184,235,000 $500,556,000 Transit [7] Table B-7 $16,016,000 $13,206,000 $29,222,000 Community Centers [8] Table B-8 $9,497,000 $5,531,000 $15,028,000 Schools (Clovis and Sanger USD facilities) [9] Table C-2 $88,566,000 $53,326,000 $141,892,000 Subtotal Public Facilities $463,021,000 $279,330,000 $742, 351,000 Total $1,393,793,000 $536,646,000 $1, 930,439,000
Source: City of Fresno; Blair, Church, & Flynn; Fresno Area Express (FAX); SUSD; CUSD; EPS. [1] Engineering cost estimates from Blair, Church, & Flynn and City Department of Public Utilities as of Nov. 2023.

Updated to 2025 dollars by City Department of Public Utilities in March 2025. [
2] Engineering cost estimates from Blair, Church, & Flynn as of Nov. 2023. Updated to 2025 dollars using the percentage change in the 20-Cities ENR CCI.
[3] Cost estimates from City of Fresno Public Works Department as of October 2023 with some adjustments to improvements and costs provided in 2025. Costs updated to 2025 dollars using the percentage change in the 20-Cities ENR CCI. Transportation costs include right-of-way acquisition and construction costs. Construction items include: pavement, curb and gutter, sidewalks, streetlights, soundwalls, landscaping, traffic signals, bridges, overcrossings, and freeway interchanges.
[4] Estimated as projected fee revenue from City Police Impact Fee Program. [5] Estimated as projected fee revenue from City Fire Impact Fee Program. [6] Costs estimated using City level of service standards and 2023 construction and land acquisition costs per acre from the City PARCS department. Costs updated to 2025 dollars using the percentage change in the 20-Cities ENR CCI. [7] Estimated costs provided by FAX, as of September 2023. Costs updated to 2025 dollars using the percentage change in the 20-Cities ENR CCI.
[8] Community Center costs estimated by EPS in 2023. Costs updated to 2025 dollars using the percentage change in the 20-Cities ENR CCI.
[9] Estimated as projected fee revenue from School District fee programs. SEDA development is split between Clovis USD and Sanger USD. See Table C-3 for estimated weighted average school fees per square foot.

Table
Reference
Estimated Cost
(Rounded)
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The Facilities cost estimates are high-level and preliminary and will be revised as backbone infrastructure and public facilities design occurs. Phase 1S costs are estimated at $500 million, and Phase 1N costs are estimated at $1.4 billion, for a total of $1.9 billion for the two phases combined.

Backbone Infrastructure
As detailed further in Chapter 1, the Project engineers (Blair, Church, & Flynn) and the City Department of Public Utilities provided all backbone potable water, recycled water, and sewer facility requirements and cost estimates. The City Public Works Department provided transportation improvement requirements and cost estimates. The Project engineers and FMFCD provided stormwater facility requirements and cost estimates.

Potable Water
Table B-1 in Appendix B details the potable water facilities costs by phase. The potable water improvements required in Phases 1S and 1N include water mains, storage tanks, booster pump stations, wells and well head treatment systems, and recharge interties to FMFCD drainage basins. The total estimated cost of the potable water improvements required for Phase 1S is approximately $64 million, and the total estimated cost of the improvements required for Phase 1N is approximately $381 million. A portion of these costs will be funded with revenue generated by SEDA development through the Water Capacity fee program with the remainder likely to be funded through the proposed SEDA Special Financing District.

Recycled Water
Table B-2 in Appendix B details the recycled water facilities costs by phase. The recycled water improvements required in Phase 1S and 1N include transmission mains, storage tanks, and booster pump stations. The total estimated cost of the recycled water improvements required for Phase 1S is approximately $5 million, and the total estimated cost of the improvements required for Phase 1N is approximately $148 million. There is no existing fee program to fund recycled water costs, so all recycled water costs will likely be funded through the proposed SEDA Special Financing District.

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Sewer
Table B-3 in Appendix B details the sewer facilities costs by phase. The sewer improvements required in Phase 1 include a series of gravity sewer lines and improvements to the Fresno-Clovis Regional Wastewater Reclamation Facility (RWRF). All of these improvements are for Phase 1N. As mentioned earlier, there are no sewer improvements or costs associated with Phase 1S, as all of the Phase 1S improvements were identified as being required during Predevelopment Phase 1S. The total estimated cost of the sewer improvements required for Phase 1N is approximately $177 million. A portion of these costs would be funded by revenue generated by SEDA development through the Wastewater Facilities Sewer Charge and Oversize Sewer Charge programs with the remainder likely to be funded through the proposed SEDA Special Financing District.

Storm Drainage
Table B-4 in Appendix B details the storm drainage facilities costs by phase.

The storm drainage improvements required in Phase 1 include improvements to existing and proposed new drainage basins. The total estimated cost of the storm drainage improvements required for Phase 1S is approximately $69 million, and the total estimated cost for the improvements for Phase 1N is approximately $63 million. A portion of these costs would be funded by revenue generated by SEDA development through the FMFCD fee program with the remainder likely to be funded through the proposed SEDA Special Financing District.

Transportation
Table B-5 in Appendix B details the transportation facilities costs by phase. The transportation costs include right-of-way acquisition and construction costs. The transportation improvements required in Phase 1 include street pavement, curbs, gutters, sidewalks, bicycle lanes, street lighting, traffic signals, bridges and the right-of-way needed to accommodate these improvements. The total estimated cost of the transportation improvements required for Phase 1S is approximately $120 million, and the total estimated cost for the improvements for Phase 1N is approximately $161 million.

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Public Facilities
Police, fire, and school facilities schools will be funded through payment of existing development impact fees. As such, the Project’s fair share cost obligation of these facilities equals the fee revenue generated by Project development.

Parks and community center acreage and facilities requirements are estimated using level of service standards from the Fresno General Plan, and the costs are estimated by applying unit cost estimates to the required acreage and building square feet. Transit costs were estimated by FAX in October 2023 and have been updated to 2025 dollars.

Parks
Table B-6 in Appendix B details the parks land acquisition and development cost estimates by phase. For each phase, the required park acreage shown in Table B-6 is estimated using the General Plan level of service standard of a total of 5 park acres per 1,000 residents, comprised of 3 acres of community, neighborhood, and pocket parks and 2 acres of regional parks. The PARCS department provided estimated land acquisition and construction costs per acre, which are applied to the total park acreage to estimate total costs.

The total estimated cost of the park land acquisition and improvements required for Phase 1S is approximately $184 million, and the total estimated cost for Phase 1N is approximately $316 million. A portion of these costs will be funded from revenue generated by SEDA development through the City Parks Facility and Quimby Parkland Dedication fee programs, but currently there is insufficient funding in these fee programs to fund all of the required park land and improvements. The amount not funded through the Parks Facility fee program will likely be funded through the proposed SEDA Special Financing District.

Fire Facilities
New development in SEDA will participate in the City Fire Facilities Fee Program to fund its fair share of fire facility costs. This analysis is based on the assumption that SEDA fire facility costs will match the revenues generated by new SEDA development. Revenues generated equal an estimated $15 million for Phase 1S development and $23 million for Phase 1N development.

Police Facilities
New development in SEDA will participate in the City Police Facilities Fee Program to fund its fair share of police facility costs. This analysis is based on the assumption that SEDA police facility costs will match the revenues generated by new SEDA development. Revenues generated equal an estimated $8 million for Phase 1S development and $10 million for Phase 1N development.

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Transit
Table B-7 in Appendix B details the transit facilities costs that were prepared by FAX. These costs include the costs of buses, transit stops, and transit facilities.

According to FAX, several facilities would be needed, with the largest one expected to be a satellite facility needed to facilitate transit services in SEDA. FAX estimates that this satellite facility will be located on a 10-acre site. The total estimated cost of the transit land and improvements required for Phase 1S is approximately $13 million, and the total estimated cost for Phase 1N is approximately $16 million. It is assumed that all transit facilities will be funded by State and local grants.

Community Centers
Table B-8 in Appendix B details the estimated community center costs by phase for community centers needed to serve SEDA. The cost estimates for each phase are developed by first estimating the required community center acres and building square feet based on current levels of service. The current level of service is estimated as the existing acres and building square feet of community centers per 1,000 City residents. This factor is applied to the projected new SEDA population by phase to estimate the new community center acres and building square feet required to serve each phase of SEDA. Unit cost estimates (i.e., site improvement cost per acre and construction cost per building square foot) are then applied to the required acres and building square feet for each phase to estimate the total costs by phase. Note that no land acquisition costs are included for community centers, as it is assumed that all community centers will be sited at parks, and land acquisition costs have been included in the parks cost estimates.

The total estimated cost of community centers required for Phase 1S is approximately $6 million, and the total estimated cost for Phase 1N is approximately $9 million. It is assumed that all community centers will be funded by State and local grants.

Schools
New residential growth in the Project is split between the Clovis USD and the Sanger USD, both of which serve grades K through 12. Future student residents in SEDA would attend existing or planned elementary, middle, and high schools in these districts.

New development in SEDA will be required to pay either the Clovis USD or Sanger USD development fees. Total improvement costs for SEDA’s fair share of school facilities are assumed to equal the fee revenue generated by new development in SEDA. Revenue generated by the school fees totals approximately $53 million for Phase 1S development and approximately $89 million for Phase 1N development. These revenue amounts are calculated by estimating weighted average school district fees and applying these fees to projected residential development. The backup calculations for the weighted average fees are shown in Table C-3 of Appendix C.

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Funding Sources
Chapter 3 provides an overview of the potential funding sources for SEDA Facilities.

This chapter provides specifics on the likely funding sources for Phases 1S and 1N.

Several funding mechanisms will be needed to fund the backbone infrastructure and public facilities required to serve Phases 1S and 1N of the Project. The actual funding sources and financing mechanisms used will depend on the type of facility, when the facility is needed, and the phasing of facility construction. The estimated funding sources as they apply to phases 1S and 1N are summarized below.

Existing City and Other Agency Fees
The City, County, FMFCD, Clovis USD, and Sanger USD have existing ordinance- based development impact fees and connection charges. Many of these fees and charges will be fully applicable in SEDA. In some instances, the Project would fully fund its fair share of improvement costs through existing fee programs.

Citywide and other agency fees, at existing rates, are estimated to generate approximately $233 million from Phase 1S development, $326 million from Phase 1N development, and $559 million from total Phase 1 SEDA development. A detailed breakdown of total fee revenue generated by new development in the Project is provided in Table C-2 of Appendix C, and a summary of this revenue is provided in Table 10. Note that, for some fee programs, not all of the fee revenue generated by SEDA will be available to fund SEDA Facilities because some of the revenue will be used for other improvements included in the fee programs. Where applicable, Appendix C estimates the fee program revenue available for SEDA improvements.

State and Local Grants
State and local grants will be pursued and used to the extent possible to fund SEDA Facilities. Currently, it is assumed that transit facilities and community centers will be entirely grant funded.

Potential SEDA Special Financing District
The Financing Options report identifies that, in some cases, fee revenues collected from existing fee programs and other funding mechanisms would be insufficient to cover the total cost of backbone infrastructure and public facilities required for the Project. In fact, for certain types of improvements (e.g., Class 1 trails), there are no existing fee programs to help fund the improvements. For these reasons, the Financing Options report proposes consideration of a new publicly administered SEDA Fee Program, as well as a Mello-Roos CFD or an EIFD to bridge any funding gaps that may exist. These funding sources were detailed in Chapter 3. The estimated Phase 1 Mello-Roos CFD bonding capacity is summarized below.

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Table 10 Development Fee Revenue Summary - Phase 1 (2025$)

Item Phase 1N Phase 1S Total Phase 1
City Processing Fees (e.g., building permit; plan check) $31 M $21 M $52 M Citywide Development Impact Fees [1]
Parks and Recreation $49 M $29 M $78 M
Water Facilities $44 M $38 M $83 M
Sew
er Facilities [2] $16 M $13 M $29 M
Fire Facilities $23 M $15 M $38 M
Police Facilities $10 M $8 M $18 M
Total Citywide Development Impact Fees $142 M $103 M $245 M County and Regional Fees
Fresno County Regional Transportation Mitigation Fee $22 M $16 M $38 M Fresno County Public Facilities Fee $32 M $20 M $52 M
Fr
esno Metropolitan Flood Control District Drainage Fee $11 M $20 M $30 M Clovis USD and Sanger USD Fees [3] $89 M $53 M $142 M
Total County and Regional Development Impact Fees $153 M $109 M $262 M Total Estimated Fee Revenue $326 M $233 M $559 M
Source: City of Fresno; Fresno County; SUSD; CUSD; FMFCD; EPS. [1] SEDA excluded from Major Streets Fee Program and Traffic Signal Fee Program. [2] A separate Trunk Sewer Charge will be established for the Temperance Trunk Service Area and charged to SEDA development. As this fee has not yet been developed, no Trunk Sewer Fees have been included. [3] Project development split between Clovis USD and Sanger USD. Fee revenue based on weighted average school fees per square foot.

Fee Revenue
(2025$ - Rounded)
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Mello-Roos CFD Bonding Capacity
As shown in Appendix D, this Financing Options report estimates the total maximum special tax revenue generated through a CFD by phase and the corresponding bonding capacity for the Project by phase. Based on preliminary CFD maximum special tax rates by developable land use (see discussion below), the Project may be able to support bond proceeds of $168 million for Phase 1S development and $146 million for Phase 1N development, resulting in a Phase 1 total of $314 million. The Phase 1 bond proceeds represent approximately 22 percent of the estimated $1.4 billion in Facilities costs not funded through existing fee programs or through State and local grants (see Table 11 later in this chapter).

The preliminary CFD maximum annual special tax rates are detailed in Appendix D and are estimated as the maximum additional property tax burden that development could support given other existing and proposed property taxes. The Two-Percent Total Taxes and Assessments Test is employed to estimate the residential CFD maximum special tax rates, as detailed in Chapter 6.

Table D-1 details the Project’s estimated bonding capacity by phase and at buildout. Tables D-2 details the maximum annual special tax revenue generated by SEDA Phase 1 development.

It is important to note that any initial bond issues will be constrained by various factors, including the appraised value of land in the CFD at the time bonds are sold. Several bond sales would occur as development of the Project progresses and security can be demonstrated for the bonds. It is also important to note that the bonding capacity estimates are preliminary, based on current financing assumptions, and are subject to revision once a land-secured financing mechanism is implemented.

Other Sources
Other potential funding sources, such as PPP funding, private developer funding, City advances, and interfund borrowing, also could be used to fund Phase 1S and 1N Facilities.

Estimated Funding for Phases 1S and 1N
Table 11 summarizes the estimated costs and potential funding by funding source for required SEDA Facilities for Phase 1S and Phase 1N separately and for Phase 1 in total. As shown in this table, the major Facilities in Phase 1 will be funded through a combination of public and private financing.

For most improvements, the funding is split between existing development impact fee programs and the proposed SEDA Special Financing District, with the exception that transit facilities and community centers are assumed to be funded SEDA Specific Plan Public Facilities Financing Options
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by State and local grants. The amounts shown as funded by each source are the estimated eventual amounts that will be funded by revenue generated by development in the entire Project.

As shown in Table 11 and discussed in the previous Facilities Costs section of this chapter, City and regional development impact fee programs currently exist and provide funding for potable water, sewer, storm drainage, police, fire, parks, and school improvements. The percentages of SEDA Facilities costs funded by existing fee programs are estimated in Appendix C.

Funding from other potential public and private sources not estimated in Table 11 could result in a reduction of costs to be funded by the SEDA Special Financing District. These sources could include PPP funding, City advance-funding, private developer funding, interfund borrowing, bond funding through a CFD, grant funding, and other sources.

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Table 11 Estimated Sources and Uses - Phase 1 After Predevelopment Phase (2025$) (page 1 of 2)

Improvement
Existing City
DIF Pct. Of
Total Cost [2]
Estimated
Cost
Existing
City DIF
Programs [3]
Existing
Regional DIF
Programs [4]
State and
Local Grants
SEDA Special
Financing
District [5]
Private
Developer/
Other [6]
Table Reference Table C-5 Table 6
Formula A B C=A*B D=A*B E F=B-(C+D+E)
Phase 1N
Backbone Infrastructure
Potable Water 27% $380,817,000 $101,569,000 - - $279,248,000 X Recycled Water 0% $148,356,000 - - - $148,356,000 X
Sewer 19% $177,116,000 $33,296,000 - - $143,820,000 X Stormwater Drainage 12% $63,001,000 - $7,744,000 - $55,257,000 X Transportation 0% $161,482,000 - - - $161,482,000 X
Subtotal Backbone Infrastructure $930,772,000 $134,865,000 $7,744,000 - $788,163,000 Public Facilities
Police 100% $9,995,000 $9,995,000 - - -
Fire 100% $22,626,000 $22,626,000 - - -
Parks 16% $316,321,000 $49,305,000 - - $267,016,000 X Transit 0% $16,016,000 - - $16,016,000 - X
Community Centers 0% $9,497,000 - - $9,497,000 - X
Schools (CUSD & SUSD facilities) 100% $88,566,000 - $88,566,000 - - Subtotal Public Facilities $463,021,000 $81,926,000 $88,566,000 $25,513,000 $267,016,000 Total Phase 1N $1,393,793,000 $216,791,000 $96,310,000 $25,513,000 $1,055,179,000 Phase 1S
Backbone Infrastructure
Potable Water 27% $64,148,000 $17,109,000 - - $47,039,000 X Recycled Water 0% $4,571,000 - - - $4,571,000 X
Sewer 19% - - - - - X
Stormwater Drainage 12% $68,580,000 - $8,429,000 - $60,151,000 X Transportation 0% $120,017,000 - - - $120,017,000 X
Subtotal Backbone Infrastructure $257,316,000 $17,109,000 $8,429,000 - $231,778,000 Public Facilities
Police 100% $8,045,000 $8,045,000 - - -
Fire 100% $14,987,000 $14,987,000 - - -
Parks 16% $184,235,000 $28,717,000 - - $155,518,000 X Transit 0% $13,206,000 - - $13,206,000 - X
Community Centers 0% $5,531,000 - - $5,531,000 - X
Schools (CUSD & SUSD facilities) 100% $53,326,000 - $53,326,000 - - Subtotal Public Facilities $279,330,000 $51,749,000 $53,326,000 $18,737,000 $155,518,000 Total Phase 1S $536,646,000 $68,858,000 $61,755,000 $18,737,000 $387,296,000 Funding Sources [1]
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Table 11 Estimated Sources and Uses - Phase 1 After Predevelopment Phase (2025$) (page 2 of 2)

Various sources could include private capital, bond funding through a CFD, and other sources. See Table 12 for details on the Phase 1 cash flow of costs and revenues.
[2] Calculated as percentage of SEDA costs funded by existing City fee programs at buildout. See Table C-5. [3] Existing City development impact fee programs anticipated to provide funding for SEDA improvements:
• P
otable Water: Water Capacity Charge
• Sewer: Oversize Sewer Charge and Wastewater Facilities Sewer Charge • Police Facilities: Police Facilities Fee
• Fire Facilities: Fire Facilities Fee
• Parks: Parks Facility Fee, Quimby Parkland Dedication Fee [4] Existing regional development impact fee programs anticipated to provide funding for SEDA improvements:
• Stormwater Drainage: F resno Metropolitan Flood Control District Drainage Fee • Schools: Cl ovis USD and Sanger USD School Facilities Fees [5] A SEDA Special Financing District may include one or more of the following funding sources:
• P lan Area Fee Program
• Mello-Roos Community Facilities District (CFD)
• Enhanced Infrastructure Financing District
• Other Infrastructure Charge Program
[6] If private developer and other funding, such as state or local grants, is obtained, the costs for the SEDA Special Financing District could be reduced.

Funding Sources [1]
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Cash Flow Analysis
Table 12 provides a cash flow analysis that summarizes the estimated costs, funding shortfalls, and potential shortfall funding sources for Phases 1S and 1N.

This analysis addresses the timing of available funding through the identified sources discussed in the previous section (existing development impact fee programs and the SEDA Special Financing District) and estimates the funding surplus or shortfall for the different types of Facilities by comparing the Facilities cost to the revenue available during that phase.

The Phase 1S cash flow results in shortfalls for storm drainage improvements only, while the Phase 1N cash flow results in shortfalls for potable water, recycled water, sewer, and parks improvements. Upfront capital will be required to finance the Facilities for which there are shortfalls and could be generated through various private and public sources such as private capital, bond funding through a CFD, and other available sources. The provided shortfall funding from the City or other entities could be reimbursed after enough revenue is generated through the development impact fee programs and the SEDA Special Financing District to fully cover the cost of the improvements.

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Table 12 Estimated Cash Flow - Phase 1 After Predevelopment Phase (2025$) (Page 1 of 2)

Improvement
Estimated
Cost
Existing
City DIF
P
rograms
Existing
Regional DIF
P
rograms
State and
Local Grants
SEDA Special
Financing
D
istrict [1] Total
Surplus/
(Shortfall)
Funding Sources
for Shortfall
Table Reference Table C-6 T able C-6
Phase 1N 24%
Backbone Infrastructure
Potable Water $380,817,000 $44, 256,000 - - $127,023,000 $171,279,000 ($209,538,000) P ublic/Private Funding [2] Recycled Water $148,356,000 - - - $45, 853,000 $45,853,000 ($102,503,000) P ublic/Private Funding [2] Sewer $177,116,000 $15, 953,000 - - $67,147,000 $83,100,000 ($94,016,000) P ublic/Private Funding [2] Stormwater Drainage $63,001,000 - $5, 337,000 $59,073,000 $64,410,000 $1,409,000 Transportation $161,482,000 - - - $213, 283,000 $213,283,000 $51,801,000 Subtotal Backbone Infrastructure $930,772,000 $60, 209,000 $5,337,000 - $512,379,000 $577,925,000 ($352,847,000) Public Facilities
Police $9,995,000 $9, 995,000 - - - $9,995,000 -
Fire $22,626,000 $22, 626,000 - - - $22,626,000 -
Parks $316,321,000 $49, 006,000 - - $245,944,000 $294,950,000 ($21,371,000) P ublic/Private Funding [2] Transit $16,016,000 - - $16, 016,000 - $16,016,000 - Community Centers $9,497,000 - - $9, 497,000 - $9,497,000 - Schools (CUSD & SUSD facilities) $88,566,000 - $88, 566,000 - $88,566,000 - Subtotal Public Facilities $463,021,000 $81, 627,000 $88,566,000 $25,513,000 $245,944,000 $441,650,000 ($21,371,000) Total Phase 1N $1,393,793,000 $141, 836,000 $93,903,000 $25,513,000 $758,323,000 $1,019,575,000 ($374,218,000) Phase 1S 20%
Backbone Infrastructure
Potable Water $64,148,000 $38, 433,000 $105,852,000 $144,285,000 $80,137,000 Recycled Water $4,571,000 - $38, 211,000 $38,211,000 $33,640,000 Sewer - $13, 108,000 $55,956,000 $69,064,000 $69,064,000 Stormwater Drainage $68,580,000 - $9, 814,000 $49,228,000 $59,042,000 ($9,538,000) P ublic/Private Funding [2] Transportation $120,017,000 - $177, 736,000 $177,736,000 $57,719,000 Subtotal Backbone Infrastructure $257,316,000 $51, 541,000 $9,814,000 - $426,983,000 $488,338,000 $231,022,000 Public Facilities
Police $8,045,000 $8, 045,000 - $8,045,000 -
Fire $14,987,000 $14, 987,000 - $14,987,000 -
Parks $184,235,000 $28, 731,000 $204,953,000 $233,684,000 $49,449,000 Transit $13,206,000 - $13, 206,000 - $13,206,000 -
Community Centers $5,531,000 - $5, 531,000 - $5,531,000 - Schools (CUSD & SUSD facilities) $53,326,000 - $53, 326,000 - $53,326,000 - Subtotal Public Facilities $279,330,000 $51, 763,000 $53,326,000 $18,737,000 $204,953,000 $328,779,000 $49,449,000 Total Phase 1S $536,646,000 $103, 304,000 $63,140,000 $18,737,000 $631,936,000 $817,117,000 $280,471,000 Funding Sources (Rounded)
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Table 12 Estimated Cash Flow - Phase 1 After Predevelopment Phase (2025$) (Page 2 of 2)

Funding Sources (Rounded)
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Cost Burden Analysis
Infrastructure Cost Burden Test
The purpose of estimating the total burden of backbone infrastructure and public facilities is to evaluate the financial feasibility of the Project given all current and proposed fees and the additional burden of Project-specific infrastructure costs. In general, new development can support a certain level of infrastructure, the cost of which ultimately is integrated into the home price. The infrastructure cost burden test measures the total cost of backbone infrastructure and public facility improvements as a percentage of the total market value of the Project based on final sales prices of residential units and nonresidential buildings. The total infrastructure cost burden consists of all backbone infrastructure and public facility costs (e.g., developer funding plus any non-overlapping bond debt related to special taxes and assessments for infrastructure) plus all applicable development fees (e.g., development impact fees or school mitigation fees).

Typically, these total infrastructure costs comprise up to a maximum of 15 to 20 percent of a project’s market value. Based on pro forma analyses of dozens of Specific Plans in California over the past 3 decades, the infrastructure burden feasibility performance test yields the following general conclusions:
• Burdens below 15 percent generally are considered financially feasible. • Burdens between 15 and 20 percent may be feasible depending on the specific circumstances of the project.
• Burdens above 20 percent suggest that a project may not be financially feasible unless other components of the project pro forma are particularly advantageous to the developer, thus allowing the project to bear unusually high infrastructure costs.

Infrastructure Cost Burden Test Findings
Table 13 provides a summary of the Phase 1 infrastructure cost burden, which is estimated as the sum of the estimated SEDA costs not funded by existing fee programs and the cost burden from participation in existing fee programs. The Phase 1 infrastructure cost burden is compared to the Phase 1 market value to arrive at infrastructure cost burden percentages. The cost burden and market value calculations are further discussed in the “Backup Cost Burden and Market Value” section below.

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Table 13 Infrastructure and Public Facility Cost Burden as Percentage of Project Market Value - Phase 1 (2025$) Improvement Predevelopment
Remaining
Phase 1N Total Predevelopment
Remaining
Phase 1S Total Predevelopment
Remaining
Phase 1 Total
SEDA Special Financing District Cost (Rounded) [1]
Backbone Infrastructure
Potable Water $75,751,000 $279,248, 000 $354,999,000 - $47, 039,000 $47,039,000 $75,751,000 $326,287,000 $402,038,000 Recycled Water - $148,
356,000 $148,356,000 - $4,
571,000 $4,571,000 - $152,
927,000 $152,927,000
Sanitary Sewer $52,333,000 $143,820,000 $196,153,000 $43,137,000 - $43, 137,000 $95,470,000 $143,820,000 $239,290,000
Stormwater Drainage - $55,
257,000 $55,257,000 - $60,
151,000 $60,151,000 - $115,
408,000 $115,408,000
Transportation $55,000,000 $161,482,000 $216,482,000 $8,531,000 $120,017,000 $128,548,000 $63,531,000 $281,499,000 $345,030,000 Subtotal $183,084,000 $788,163, 000 $971,247,000 $51,668,000 $231,778,000 $283,446,000 $234,752,000 $1,019,941,000 $1,254,693,000 Public Facilities
Police - - - - - - - - -
Fi
re - - - - - - - - -
Parks - $267,
016,000 $267,016,000 - $155,
518,000 $155,518,000 - $422,
534,000 $422,534,000
Transit - - - - - - - - -
Community Centers - - - - - - - - -
Schools (CUSD and SUSD Facilities) - - - - - - - - - Subtotal - $267,016,000 $267,016,000 - $155, 518,000 $155,518,000 - $422, 534,000 $422,534,000 Total SEDA Special Financing District Cost $183,084,000 $1,055, 179,000 $1,238,263,000 $51,668,000 $387,296,000 $438,964,000 $234,752,000 $1,442,475,000 $1,677,227,000 Existing Fee Programs Cost Burden (Rounded) [2] - $325,877,000 $325,877,000 - $233, 341,000 $233,341,000 - $559, 218,000 $559,218,000 Total Infrastructure Cost Burden [3] $183,084,000 $1,381, 056,000 $1,564,140,000 $51,668,000 $620,637,000 $672,305,000 $234,752,000 $2,001,693,000 $2,236,445,000 Total Market Value of Project (Rounded) [4] - $4,387,648,000 $4,387,648,000 - $3, 001,067,000 $3,001,067,000 - $7, 388,715,000 $7,388,715,000 Infrastructure Cost Burden as Pct. of Total Market Value [5] 31.5% 35.6% 20. 7% 22.4% 27.1% 30.3% Source: City of Fresno; Blair, Church, & Flynn; Fresno County; FAX; SUSD; CUSD; FMFCD; EPS. [1] S
ee Table 7 and Table 11 for predev. and remaining Phase 1N and 1S costs funded by SEDA Special Financing District. There may be additional costs for the following items that have not yet been estimated:
• Aquat
ic Facilities
• O
ther Improvements (not yet identified)
[2] S
ee Table C-2.
[3] S
um of SEDA Special Financing District Cost and Existing Fee Programs Cost Burden. [4] S
ee Table C-7.
[5] T
ypically, based on EPS's infrastructure financing experience, for each residential land use, the infrastructure cost burden as a percentage of sales price should be below 15% to 20% to be considered feasible unl
ess other circumstances improve feasibility. For the purposes of this Financing Options report, EPS has used the same 15% to 20% feasibility standard applied to the total Project infrastructure cost burden as a per
centage of total Project market value.

Phase 1 TotalPhase 1SPhase 1N
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As summarized in Table 13, Phase 1 development results in estimated total infrastructure cost burden percentages of 22.4 percent for Phase 1S development,

35.6 percent for Phase 1N development, and 30.3 percent for Phase 1 development in total. Each of these infrastructure burden percentages are above 20 percent and indicate that Phase 1 of the Project may not be financially feasible unless measures are taken to improve Project viability, such as reducing the required Facilities or Facilities costs or identifying other funding sources. In addition, future phases of the Project likely will provide reimbursements to Phase 1 for required Phase 1 advance funding.

The cost burden in Table 13 is based on one financing scheme where the majority of the Facilities costs are funded through existing development impact fee programs and a SEDA Special Financing District to provide additional funding through a plan area fee program, CFD bond financing, and/or other developer- funded sources. If financing through other sources, such as PPP funding and more grant funding, is obtained, the results of the feasibility analysis would be improved.

Initial Development - Phase 1S
Note that the cost burden percentage for Phase 1S development is only slightly higher than the 20 percent burden generally required for the Project to be financially feasible. The City is proposing to begin SEDA development with Phase 1S because the Facilities requirements and costs are not as great as for Phase 1N, subsequently resulting in a greater probability of financial feasibility for the first stage of SEDA development.

Backup Cost Burden and Market Value Estimates
The cost burden from existing fee programs is estimated as the fee revenue generated by SEDA through participation in existing development fee programs.

Table C-1 of Appendix C details the existing fees used to estimate the total revenue generated from existing fee programs. The detailed existing fee revenue estimates are included in Table C-2 of Appendix C, with backup calculations for drainage and school fees in Tables C-3 and C-4.

Tables C-5 and C-6 of Appendix C estimate the percentages of SEDA infrastructure costs funded through existing development fee programs. These percentages are used to estimate total existing development impact fee revenue available to fund SEDA Facilities (see Table 11).

Table C-7 of Appendix C details the calculation of total estimated market value by phase.

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Remaining Phases and Buildout
This chapter analyzes the costs, potential funding sources, and financial feasibility of Phases 2 and 3 combined and Project buildout. Phases 2 and 3 are combined because it is unknown which phase will develop first. The buildout analysis includes Facilities costs and funding amounts across all phases of the project (predevelopment phases, Phases 1S and 1N, and Phases 2 and 3).

The analyses include an identification of required Facilities to be constructed, the estimated costs for these Facilities, identification of funding for the Facilities, estimated cash flows that identify funding shortfalls or surpluses, and feasibility tests that assess the financial feasibility of Phases 2 and 3 and the Project as a whole.

Summary of Facilities in Remaining
Phases
The SEDA Facilities to be constructed and financed in conjunction with Phase 2 and 3 development are summarized below.

Backbone Infrastructure
Public Facilities
• Potable Water • Parks
• Recycled Water • Fire
• Sewer • Police
• Storm Drainage • Transit
• Transportation • Schools
• Community Centers
Facilities Costs
Table 14 provides a summary of Facilities costs by Facility type for each phase and at buildout, and Appendix B provides the detailed Facilities cost estimates by phase for the costs provided by Project engineers and the City, which are the majority of the costs. For fire, police, and school facilities, existing development impact fee revenue generated by SEDA development is used to estimate costs.

Appendix C details the estimated revenue from existing development impact fee programs and the backup calculations needed to estimate the fee revenue. The costs of in-tract and other subdivision-specific improvements will be privately financed and are excluded from Table 14.

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Table 14 Backbone Infrastructure and Public Facilities Cost Summary at Buildout (2025$) Improvement Note Predevelopment Phase 1 Phases 2 and 3 Buildout Backbone Infrastructure
Potable Water [1] Table B-1 $103,304,000 $444,965,000 $173,498,000 $721,767,000 Recycled Water [1] Table B-2 - $152,927, 000 $38,126,000 $191,053,000 Sewer [1] Table B-3 $117,572,000 $177,116,000 $49,862,000 $344,550,000 Storm Drainage [2] Table B-4 - $131,581,000 $149,051,000 $280,632,000 Transportation [3] Table B-5 $63,531,000 $281,499,000 $543,650,000 $888,680,000 Subtotal Backbone Infrastructure $284,407,000 $1,188,088,000 $954,187,000 $2,426,682,000 Public Facilities
Police [4] Table C-2 - $18,040,000 $25,714,000 $43,754,000 Fire [5] Table C-2 - $37,613, 000 $53,822,000 $91,435,000 Parks [6] Table B-6 - $500,556,000 $713,437,000 $1,213,993,000 Transit [7] Table B-7 - $29,222,000 $105,486,000 $134,708,000 Community Centers [8] Table B-8 - $15,028,000 $21,419,000 $36,447,000 Schools (Clovis and Sanger USD facilities) [9] Table C-2 - $141,892,000 $198,202,000 $340,094,000 Subtotal Public Facilities - $742,351,000 $1,118,080,000 $1,860,431,000 Total $284,407,000 $1,930,439,000 $2,072,267,000 $4,287,113,000 Source: City of Fresno; Blair, Church, & Flynn; Fresno County; FAX; SUSD; CUSD; EPS. [1] Engineering cost estimates from Blair, Church, & Flynn and City Department of Public Utilities as of Nov. 2023. Updated to 2025 dollars by City Department of Public Utilities in March 2025.
[2] Engineering cost estimates from Blair, Church, & Flynn as of Nov. 2023. Updated to 2025 dollars using the percentage change in the 20-Cities ENR CCI.
[3] Improvements and cost estimates from City of Fresno Public Works Department as of October 2023 with some adjustments to improvements provided in 2025. Unit costs updated to 2025 dollars by City. Transportation costs include right-of-way acquisition and construction costs. Construction items include: pavement, curb and gutter, sidewalks, streetlights, soundwalls, landscaping, traffic signals, bridges, and overcrossings.
[4] Estimated as projected fee revenue from City Police Impact Fee Program. [5] Estimated as projected fee revenue from City Fire Impact Fee Program. [6]
Costs estimated using City level of service standards and 2023 construction and land acquisition costs per acre from the City PARCS department. Costs updated to 2025 dollars using the percentage change in the 20-Cities ENR CCI. [7] Estimated costs provided by FAX, as of September 2023. Costs updated to 2025 dollars using the percentage change in the 20-Cities ENR CCI.
[8] Community Center costs estimated by EPS in 2023. Costs updated to 2025 dollars using the percentage change in the 20-Cities ENR CCI.
[9] Estimated as projected fee revenue from School District fee programs. SEDA development is split between Clovis USD and Sangar USD.

See Table C-3 for estimated weighted average school fees per square foot.

Table
Reference
Estimated Cost (Rounded)
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The Facilities cost estimates are high-level and preliminary and will be revised as backbone infrastructure and public facilities design occurs. Phase 2 and 3 costs are estimated at $2.1 billion, and the total costs at buildout across all phases are estimated at $4.3 billion.

In some cases, SEDA developers may be required to both construct and finance facilities and to participate in fee programs that include those facilities (e.g., potable water, fire, police, parks, schools). In those cases where SEDA developers construct and provide advance funding for improvements included in a development impact fee program, the developers may enter into credit and reimbursement agreements with the City or other jurisdiction (e.g., school district) to receive fee credits and reimbursement funding from the particular fee program.

Potable Water
Table B-1 in Appendix B details the potable water facilities costs by phase. The potable water improvements required in Phases 2 and 3 include wells, water mains, and recharge interties to FMFCD drainage basins. The total estimated cost of the potable water improvements required for Phases 2 and 3 is approximately $173 million, and the total estimated cost of the improvements required at buildout is approximately $722 million. A portion of these costs will be funded with revenue generated by SEDA development through the Water Capacity fee program with the remainder likely to be funded through the proposed SEDA Special Financing District.

Recycled Water
Table B-2 in Appendix B details the recycled water facilities costs by phase. The recycled water improvements required in Phases 2 and 3 include treatment improvements and transmission mains. The total estimated cost of the recycled water improvements required for Phases 2 and 3 is approximately $38 million, and the total estimated cost of the improvements required at buildout is approximately $191 million. There is no existing fee program to fund recycled water costs, so all recycled water costs will likely be funded through the proposed SEDA Special Financing District.

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Sewer
Table B-3 in Appendix B details the sewer facilities costs by phase. The sewer improvements required in Phases 2 and 3 include a series of gravity sewer lines.

The total estimated cost of these improvements is approximately $50 million. The total estimated cost of the improvements required at buildout is approximately $345 million. A portion of these costs would be funded by revenue generated by SEDA development through the Wastewater Facilities Sewer Charge and Oversize Sewer Charge programs with the remainder likely to be funded through the proposed SEDA Special Financing District.

Storm Drainage
Table B-4 in Appendix B details the storm drainage facilities costs by phase.

The storm drainage improvements required in Phases 2 and 3 include improvements to existing and proposed new drainage basins. The total estimated cost of the storm drainage improvements required for Phases 2 and 3 is approximately $149 million, and the total estimated cost for the improvements required at buildout is approximately $281 million. A portion of these costs would be funded by revenue generated by SEDA development through the FMFCD fee program with the remainder likely to be funded through the proposed SEDA Special Financing District.

Transportation
Table B-5 in Appendix B details the transportation facilities costs by phase. The transportation costs include right-of-way acquisition and construction costs. The transportation improvements required in Phases 2 and 3 include street pavement, curbs, gutters, sidewalks, bicycle lanes, street lighting, traffic signals, bridges and the right-of-way needed to accommodate these improvements. The total estimated cost of the transportation improvements required for Phases 2 and 3 is approximately $544 million, and the total estimated cost for the required improvements a buildout is approximately $889 million.

Public Facilities
Police, fire, and school facilities schools will be funded through payment of existing development impact fees. As such, the Project’s fair share cost obligation of these facilities equals the fee revenue generated by Project development.

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Parks and community center facilities requirements are estimated using level of service standards from the Fresno General Plan, and the costs are estimated by applying unit cost estimates to the required acreage and building square feet.

Transit costs were estimated by FAX in October 2023 and have been updated to 2025 dollars.

The total estimated cost of the park land acquisition and improvements required for Phases 2 and 3 is approximately $713 million, and the total estimated cost at buildout is approximately $1.2 billion. A portion of these costs will be funded from revenue generated by SEDA development through the City Parks Facility and Quimby Parkland Dedication fee programs, but currently there is insufficient funding in these fee programs to fund all of the required park land and improvements. The amount not funded through the Parks Facility fee program will likely be funded through the proposed SEDA Special Financing District.

Fire Facilities
New development in SEDA will participate in the City Fire Facilities Fee Program to fund its fair share of fire facility costs. This analysis is based on the assumption that SEDA fire facility costs will match the revenues generated by new SEDA development. Revenues generated equal an estimated $54 million for development in Phases 2 and 3 and $91 million at buildout.

Police Facilities
New development in SEDA will participate in the City Police Facilities Fee Program to fund its fair share of police facility costs. This analysis is based on the assumption that SEDA police facility costs will match the revenues generated by new SEDA development. Revenues generated equal an estimated $26 million for development in Phases 2 and 3 and $44 million at buildout.

Transit
Table B-7 in Appendix B details the transit facilities costs that were prepared by FAX. These costs include the costs of buses, transit stops, and transit facilities.

According to FAX, several facilities would be needed, with the largest one expected to be a satellite facility needed to facilitate transit services in SEDA. FAX estimates that this satellite facility will be located on a 10-acre site. The total estimated cost of the transit land and improvements required for Phases 2 and 3 SEDA Specific Plan Public Facilities Financing Options
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is approximately $105 million, and the total estimated cost at buildout is approximately $135 million. It is assumed that all transit facilities will be funded by State and local grants.

The total estimated cost of community centers required for Phases 2 and 3 is approximately $21 million, and the total estimated cost for community centers required at buildout is approximately $36 million. It is assumed that all community centers will be funded by State and local grants.

New development in SEDA will be required to pay either the Clovis USD or Sanger USD development fees. Total improvement costs for SEDA’s fair share of school facilities are assumed to equal the fee revenue generated by new development in SEDA. Revenue generated by the school fees totals approximately $198 million for development in Phases 2 and 3 and approximately $340 million at buildout. These revenue amounts are calculated by estimating weighted average school district fees and applying these fees to projected residential development. The backup calculations for the weighted average fees are shown in Table C-3 of Appendix C.

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Funding Sources
Chapter 3 provides an overview of the potential funding sources for SEDA Facilities. This chapter provides specifics on the likely funding sources for Phases 2 and 3 and at buildout.

Several funding mechanisms will be needed to fund the backbone infrastructure and public facilities required to serve Phases 2 and 3 of the Project. The actual funding sources and financing mechanisms used will depend on the type of facility, when the facility is needed, and the phasing of facility construction. The estimated funding sources as they apply to phases 2 and 3 and Project buildout are summarized below:

Citywide and other agency fees, at existing rates, are estimated to generate approximately $770 million from development in Phases 2 and 3 and $1.3 billion at Project buildout. A detailed breakdown of total revenues generated by new development in the Project is provided in Table C-2 of Appendix C, and a summary of these revenues is provided in Table 15. Note that, for some fee programs, not all of the fee revenue generated by SEDA will be available to fund SEDA Facilities because some of the revenue will be used for other improvements included in the fee programs. Where applicable, Appendix C estimates the fee program revenue available for SEDA improvements.

Potential SEDA Special Financing District
The Financing Options report identifies that, in some cases, fee revenues collected from existing fee programs and other funding mechanisms would be insufficient to cover the total cost of backbone infrastructure and public facilities required for the Project. In fact, for certain types of improvements (e.g., recycled water), there are no existing fee programs to help fund the improvements. For these reasons, the Financing Options report proposes consideration of a new publicly administered SEDA Fee Program, as well as a Mello-Roos CFD or an EIFD to bridge any funding gaps that may exist. These funding sources were detailed in Chapter 3. The estimated Mello-Roos CFD bonding capacity for Phases 2 and 3 and at buildout is summarized below.

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Table 15 Existing Development Fee Revenue Summary at Buildout (2025$)

Item Phase 1 Phases 2 and 3 Buildout
City Processing Fees (e.g., building permit; plan check) $52 M $67 M $119 M Citywide Development Impact Fees [1]
Parks and Recreation $78 M $112 M $189 M
W
ater Facilities $83 M $110 M $193 M
Sewer Facilities [2] $29 M $36 M $65 M
Fire Facilities $38 M $54 M $91 M
Police Facilities $18 M $26 M $44 M
Total Citywide Development Impact Fees $245 M $337 M $582 M County and Regional Fees
Fresno County Regional Transportation Mitigation Fee $38 M $55 M $92 M F
resno County Public Facilities Fee $52 M $74 M $126 M
Fresno Metropolitan Flood Control District Drainage Fee $30 M $39 M $69 M Clovis USD and Sanger USD Fees [3] $142 M $198 M $340 M Total County and Regional Development Impact Fees $262 M $366 M $628 M Total Estimated Fee Revenue $559 M $770 M $1. 3 B
Source: City of Fresno; Fresno County; SUSD; CUSD; FMFCD; EPS. [1] SEDA excluded from Major Streets Fee Program and Traffic Signal Fee Program. [2] A separate Trunk Sewer Charge will be established for the Temperance Trunk Service Area and charged to SEDA development. As this fee has not yet been developed, no Trunk Sewer Fees have been included. [3] Project development split between Clovis USD and Sanger USD. Fee revenue based on weighted average school fees per square foot.

Fee Revenue
(2025$ - Rounded)
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Mello-Roos CFD Bonding Capacity
As shown in Appendix D, this Financing Options report estimates the total maximum special tax revenue generated through a CFD by phase and the corresponding bonding capacity for the Project by phase. Based on preliminary CFD maximum special tax rates by developable land use (see discussion below), the Project may be able to support bond proceeds of $376 million for development in Phases 2 and 3 and $691 million at buildout. The Phase 2 and 3 bond proceeds represent approximately 25 percent of the estimated $1.5 billion in Phase 2 and 3 Facilities costs not funded through existing fee programs or State and local grants, and buildout bond proceeds represent approximately 22 percent of the estimated $3.2 billion in buildout Facilities costs not funded through existing fee programs or State and local grants (see Table 16 later in this chapter).

The preliminary CFD maximum annual special tax rates are detailed in Appendix D and are estimated as the maximum additional property tax burden that development could support given other existing and proposed property taxes. The Two-Percent Total Taxes and Assessments Test is employed to estimate the residential CFD maximum special tax rates, as detailed later in this chapter.

Table D-1 details the Project’s estimated bonding capacity by phase and at buildout. Tables D-3 details the maximum annual special tax revenue generated by SEDA Phase 2 and 3 development and at buildout.

Other Sources
Other potential funding sources, such as PPP funding, private developer funding, City advances, and interfund borrowing, also could be used to fund Facilities.

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Estimated Funding for Phases 2 and 3
and Project Buildout
Table 16 summarizes the estimated costs and potential funding by funding source for required SEDA Facilities for Phases 2 and 3 and at buildout. As shown in this table, the major Facilities in Phases 2 and 3 will be funded through a combination of public and private financing.

For most improvements, the funding is split between existing development impact fee programs and the proposed SEDA Special Financing District, with the exception that transit facilities and community centers are assumed to be funded by State and local grants. The amounts shown as funded by each source are the estimated eventual amounts that will be funded by revenue generated by development in the entire Project.

As shown in Table 16 and discussed in the previous Facilities Costs section of this chapter, City and regional development impact fee programs currently exist and provide funding for potable water, sewer, storm drainage, police, fire, parks, and school improvements. The percentages of SEDA Facilities costs funded by existing fee programs are estimated in Appendix C.

Funding from other potential public and private sources not estimated in Table 16 could result in a reduction of costs to be funded by the SEDA Special Financing District. These sources could include City advance-funding, PPP funding, private developer funding, interfund borrowing, bond funding through a CFD, grant funding, and other sources.

Cash Flow Analysis
Table 17 provides a cash flow analysis that summarizes the estimated costs, funding surpluses and shortfalls, and potential shortfall funding sources for Phases 2 and 3. This analysis addresses the timing of available funding through the identified sources discussed in the previous section (existing development impact fee programs, State and local grants, and the SEDA Special Financing District) and estimates the funding surplus or shortfall for the different types of Facilities by comparing the Facilities cost to the revenue available during that phase.

The cash flow for Phases 2 and 3 results in shortfalls for transportation and parks improvements. However, Phase 1S and 1N both had surpluses for transportation facilities, and Phase 1S had surpluses for parks improvements. This surplus revenue would be available to fund Phase 2 and 3 transportation and park improvements. In addition, shortfall funding could be provided through other public and private sources, such as private capital, bond funding through a CFD, and other available sources.

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Table 16 Estimated Sources and Uses - Phases 2 and 3 and Buildout (2025$) (Page 1 of 2)

Improvement
Existing City
DIF Pct. Of
Total Cost [2]
Estimated
Cost
Existing
City DIF
Programs [3]
Existing
Regional DIF
Programs [4]
State and
Local Grants
SEDA Special
Financing
District [5]
Private
Developer/
Other [6]
Table Reference Table C-5 Table 14
Formula A B C=A*B D=A*B E F=B-(C+D+E)
Phases 2 and 3
Backbone Infrastructure
Potable Water 27% $173,498,000 $46,274,000 - - $127,224,000 X Recycled Water 0% $38,126,000 $0 - - $38,126,000 X
Sewer 19% $49,862,000 $9,373,000 - - $40,489,000 X
Stormwater Drainage 12% $149,051,000 - $18,320,000 - $130,731,000 X Transportation 0% $543,650,000 - - - $543,650,000 X
Subtotal Backbone Infrastructure $954,187,000 $55,647,000 $18,320,000 - $880,220,000 Public Facilities
Police 100% $25,714,000 $25,714,000 - - -
Fire 100% $53,822,000 $53,822,000 - - -
Parks 16% $713,437,000 $111,204,000 - - $602,233,000 X Transit 0% $105,486,000 - - $105,486,000 - X
Community Centers 0% $21,419,000 - - $21,419,000 - X Schools (CUSD & SUSD facilities) 100% $198,202,000 - $198,202,000 - - Subtotal Public Facilities $1,118,080,000 $190,740,000 $198,202,000 $126,905,000 $602,233,000 Total Phases 2 and 3 $2,072,267,000 $246,387,000 $216,522,000 $126,905,000 $1,482,453,000 Buildout
Backbone Infrastructure
Potable Water 27% $721,767,000 $192,505,000 - - $529,262,000 X Recycled Water 0% $191,053,000 - - - $191,053,000 X
Sewer 19% $344,550,000 $64,771,000 - - $279,779,000 X Stormwater Drainage 12% $280,632,000 - $34,493,000 - $246,139,000 X Transportation 0% $888,680,000 - - - $888,680,000 X
Subtotal Backbone Infrastructure $2,426,682,000 $257,276,000 $34,493,000 - $2,134,913,000 Public Facilities
Police 100% $43,754,000 $43,754,000 - - -
Fire 100% $91,435,000 $91,435,000 - - -
Parks 16% $1,213,993,000 $189,226,000 - - $1,024,767,000 X Transit 0% $134,708,000 - - $134,708,000 - X
Community Centers 0% $36,447,000 - - $36,447,000 - X Schools (CUSD & SUSD facilities) 100% $340,094,000 - $340,094,000 - - Subtotal Public Facilities $1,860,431,000 $324,415,000 $340,094,000 $171,155,000 $1,024,767,000 Total Buildout $4,287,113,000 $581,691,000 $374,587,000 $171,155,000 $3,159,680,000 Source: City of Fresno; Blair, Church, & Flynn; FAX; SUSD; CUSD; FMFCD; EPS.

See Notes on the next page.

Funding Sources [1]
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Table 16 Estimated Sources and Uses - Phases 2 and 3 and Buildout (2025$) (Page 2 of 2)

Notes
[1] Funding sources identified represent eventual sources. Because funding shortfalls may exist for needed facilities, additional capital may be needed. Various sources could include private capital, bond funding through a CFD, and other sources. See Table 14 for details on the cash flow of costs and revenues for Phases 2 and 3 and at buildout. [2] Calculated as percentage of SEDA costs funded by existing City fee programs at buildout. See Table C-5. [3] Existing City development impact fee programs anticipated to provide funding for SEDA improvements:
• Potable Water: Water Capacity Charge
• Sewer: Oversize Sewer Charge and Wastewater Facilities Sewer Charge • Police Facilities: Police Facilities Fee
• Fire Facilities: Fire Facilities Fee
• Parks: Parks Facility Fee, Quimby Parkland Dedication Fee [4] Existing regional development impact fee programs anticipated to provide funding for SEDA improvements:
• Stormwater Drainage: Fresno Metropolitan Flood Control District Drainage Fee • Schools: Clovis USD and Sanger USD School Facilities Fees [5] A SEDA Special Financing District may include one or more of the following funding sources:
• Plan Area Fee Program
• Mello-Roos Community Facilities District (CFD)
• Enhanced Infrastructure Financing District
• Other Infrastructure Charge Program
[6] If private developer and other funding, such as state or local grants, is obtained, the costs for the SEDA Special Financing District could be reduced.

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Table 17 Estimated Cash Flow - Phases 2 and 3 and Buildout (2025$)

Improvement
Estimated
Cost
Existing
City DIF
Programs
Existing
Regional DIF
Programs
State and
Local Grants
SEDA Special
Financing
District [1] Total
Surplus/
(Shortfall)
Funding Sources
for Shortfall
Table Reference Table C-6 Table C-6
Phases 2 and 3 56%
Backbone Infrastructure
Potable Water $173,498,000 $109,816,000 - - $296,387,000 $406,203,000 $232,705,000 Recycled Water $38,126,000 - - - $106,989,000 $106,989,000 $68,863,000 Sewer $49,862,000 $35,710,000 - - $156,676,000 $192,386,000 $142,524,000 Stormwater Drainage $149,051,000 - $19,342,000 - $137,838,000 $157,180,000 $8,129,000 Transportation $543,650,000 - - - $497,661,000 $497,661,000 ($45,989,000) Public/Private Funding [2] Subtotal Backbone Infrastructure $954,187,000 $145,526,000 $19,342,000 - $1,195,551,000 $1,360,419,000 $406,232,000 Public Facilities
Police $25,714,000 $25,714,000 - - - $25,714,000 -
Fire $53,822,000 $53,822,000 - - - $53,822,000 -
Parks $713,437,000 $111,489,000 - - $573,870,000 $685,359,000 ($28,078,000) Public/Private Funding [2] Transit $105,486,000 $0 - $105,486,000 - $105,486,000 - Community Centers $21,419,000 $0 - $21,419,000 - $21,419,000 - Schools (CUSD & SUSD facilities) $198,202,000 $0 $198,202,000 - - $198,202,000 - Subtotal Public Facilities $1,118,080,000 $191,025,000 $198,202,000 $126,905,000 $573,870,000 $1,090,002,000 ($28,078,000) Total Phases 2 and 3 $2,072,267,000 $336,551,000 $217,544,000 $126,905,000 $1,769,421,000 $2,450,421,000 $378,154,000 Buildout 100%
Backbone Infrastructure
Potable Water $721,767,000 $192,505,000 - - $529,262,000 $721,767,000 - Recycled Water $191,053,000 - - - $191,053,000 $191,053,000 - Sewer $344,550,000 $64,771,000 - - $279,779,000 $344,550,000 - Stormwater Drainage $280,632,000 - $34,493,000 - $246,139,000 $280,632,000 - Transportation $888,680,000 - - - $888,680,000 $888,680,000 - Subtotal Backbone Infrastructure $2,426,682,000 $257,276,000 $34,493,000 - $2,134,913,000 $2,426,682,000 - Public Facilities
Police $43,754,000 $43,754,000 - - $0 $43,754,000 -
Fire $91,435,000 $91,435,000 - - $0 $91,435,000 -
Parks $1,213,993,000 $189,226,000 - - $1,024,767,000 $1,213,993,000 - Transit $134,708,000 - - $134,708,000 $0 $134,708,000 - Community Centers $36,447,000 - - $36,447,000 $0 $36,447,000 - Schools (CUSD & SUSD facilities) $340,094,000 - $340,094,000 - $0 $340,094,000 - Subtotal Public Facilities $1,860,431,000 $324,415,000 $340,094,000 $171,155,000 $1,024,767,000 $1,860,431,000 - Total Buildout $4,287,113,000 $581,691,000 $374,587,000 $171,155,000 $3,159,680,000 $4,287,113,000 - Source: City of Fresno; Blair, Church, & Flynn; FAX; SUSD; CUSD; EPS. [1] Percentage based on percentage of population and employees in phase. [2] Shortfall funding will be provided through various public and private sources such as private capital, bond funding through a CFD, and other available sources.

Funding Sources (Rounded)
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The cash flow for Phases 2 and 3 results in surpluses for all improvements except transportation or parks improvements. The surpluses could be used to reimburse the City or other entities that provided advance funding for Facilities in Phases 1S and 1N.

Table 18 summarizes the cash flow analysis across all phases and at buildout. Phase 1S and 1N development have shortfalls for all Facilities types combined, while Phases 2 and 3 have surpluses. As shown in Table 18, the total Phase 2 and 3 estimated funding surplus equals the Phase 1S and 1N total funding shortfall and ultimately can be used to reimburse advance funding that was required for Phases 1S and 1N.

Summary of Financial Feasibility Analyses
This analysis includes the following static methods for evaluating the financial feasibility of the proposed Project:
• I nfrastructure Cost Burden Test : Total burden of backbone infrastructure and public facilities as a percentage of residential and nonresidential sales price. • T wo- Percent Test: Total annual taxes and assessments as a percentage of sales price.

Note that previous chapter focused on the Infrastructure Cost Burden Test only for Phase 1. The Two-Percent results are the same regardless of the development phase, so it is only addressed in this chapter.

The two tests provide differing preliminary results about Project feasibility for Phases 2 and 3 and at buildout. The Infrastructure Cost Burden Test suggests Project development may not be feasible in terms of the total infrastructure cost burden, while the Two-Percent Test suggests the Project may be feasible in terms of the maximum total annual taxes and assessments.

Ultimately, public agency decision makers, in discussions with the property owners and other relevant stakeholders, will use their best judgment to decide if the Project can feasibly afford the estimated infrastructure burden and the taxes and assessments or determine if other measures, including reducing the infrastructure or tax burdens or waiting for increased market values, should be considered.

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Table 18 Cash Flow Summary (2025$)

Improvement
Table
Reference
Estimated
Cost
Existing
City DIF
Programs
Existing
Regional DIF
Programs
State and
Local Grants
SEDA Special
Financing
District Total
Surplus/
(Shortfall)
Predevelopment Phase
Phase 1N Table 8 $222,753,000 - - - - - ($222,753,000) Phase 1S Table 8 $61,654,000 - - - - - ($61,654,000) Subtotal $284,407,000 - - - - - ( $284,407,000)
Phase 1
Phase 1N Table 12 $1,393,793,000 $141,836,000 $93,903,000 $25, 513,000 $758,323,000 $1,019,575,000 ($374,218,000) Phase 1S Table 12 $536,646,000 $103,304,000 $63,140,000 $18,737,000 $631,936,000 $817,117,000 $280,471,000 Subtotal $1,930,439,000 $245,140,000 $157,043,000 $44,250,000 $1, 390,259,000 $1,836,692,000 ($93,747,000) Phases 2 and 3 Table 17 $2,072,267,000 $336,551,000 $217,544,000 $126, 905,000 $1,769,421,000 $2,450,421,000 $378,154,000 Total at Buildout $4,287,113,000 $581,691,000 $374,587,000 $171,155,000 $3, 159,680,000 $4,287,113,000 - Source: City of Fresno; Blair, Church, & Flynn; FAX; SUSD; CUSD; EPS.

Funding Sources (Rounded)
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Cost Burden Analysis
Infrastructure Cost Burden Test
The purpose of estimating the total burden of backbone infrastructure and public facilities is to evaluate the financial feasibility of the Project given all current and proposed fees and the additional burden of Project-specific infrastructure costs. In general, new development can support a certain level of infrastructure, the cost of which ultimately is integrated into the home price. The infrastructure cost burden test measures the total cost of backbone infrastructure and public facility improvements as a percentage of the total market value of the Project based on final sales prices of residential units and nonresidential buildings. The total infrastructure cost burden consists of all backbone infrastructure and public facility costs (e.g., developer funding plus any non-overlapping bond debt related to special taxes and assessments for infrastructure) plus all applicable development fees (e.g., development impact fees or school mitigation fees).

Typically, these total infrastructure costs comprise up to a maximum of 15 to 20 percent of a project’s market value. Based on pro forma analyses of dozens of Specific Plans in California over the past 3 decades, the infrastructure burden feasibility performance test yields the following general conclusions:
• B urdens below 15 percent generally are considered financially feasible. • B urdens between 15 and 20 percent may be feasible depending on the specific circumstances of the project.
• B urdens above 20 percent suggest that a project may not be financially feasible unless other components of the project pro forma are particularly advantageous to the developer, thus allowing the project to bear unusually high infrastructure costs.

Infrastructure Cost Burden Test Findings
Table 19 provides a summary of the Phases 2 and 3 and buildout infrastructure cost burdens, which are estimated as the sum of the estimated SEDA costs not funded by existing fee programs and the cost burden from participation in existing fee programs. The infrastructure cost burden is compared to the total market value to arrive at infrastructure cost burden percentages. The cost burden and market value calculations are further discussed in the “Backup Cost Burden and Market Value” section below.

As summarized in Table 19, development in Phases 2 and 3 results in estimated total infrastructure cost burden percentage of 21.3 percent. At SEDA buildout, the infrastructure cost burden percentage totals an estimated 22.6 percent. Each of these infrastructure burden percentages are slightly above 20 percent and indicate that Project may not be financially feasible unless measures are taken to improve Project viability, such as reducing the required Facilities or Facilities costs or identifying other funding sources.

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Table 19 Infrastructure and Public Facility Cost Burden as a Percentage of Project Market Value - Phases 2 and 3 and Buildout (2025$)
Improvement
Phases
2 and 3 Buildout
SEDA Special Financing District Cost (Rounded) [1]
Backbone Infrastructure
Potable Water $127,224,000 $529,262,000
Recycled Water $38,126,000 $191, 053, 000
Sanitary Sewer $40,489,000 $279,779,000
Stormwater Drainage $130,731,000 $246,139,000
Transportation $543,650,000 $888,680,000
Subtotal $880,220,000 $2,134,913,000
Public Facilities
Police - -
Fire - -
Parks $602,
233,000 $602,233,000
Transit - -
Community Centers - -
Schools (CUSD and SUSD Facilities) - -
Subtotal $602,233,000 $602,233,000
Total SEDA Special Financing District Cost $1,482,453,000 $2,737,146,000 Existing Fee Programs Cost Burden (Rounded) [2] $769,582,000 $1,328,800,000 Total Infrastructure Cost Burden [3] $2,252,035,000 $4,065,946,000 Total Market Value of Project (Rounded) [4] $10,571,657,000 $17,960,371,000 Infrastructure Cost Burden as Pct. of Total Market Value [5] 21.3% 22.6% Source: City of Fresno; Blair, Church, & Flynn; Fresno County; FAX; SUSD; CUSD; FMFCD; EPS. [1] See Table 16 for remaining Phase 2 and 3 costs funded by SEDA Special Financing District. There may be addi
tional costs for the following items that have not yet been estimated:
• A
quatic Facilities
• Other Improvements (not yet identified)
[
2] S
ee Table C-2.
[3] S
um of SEDA Special Financing District Cost and Existing Fee Programs Cost Burden. [4] S
ee Table C-7.
[5] T
ypically, based on EPS's infrastructure financing experience, for each residential land use, the infrastructure c
ost burden as a percentage of sales price should be below 15% to 20% to be considered feasible unless ot
her circumstances improve feasibility. For the purposes of this Financing Plan, EPS has used the same 15% to 20% feasibility standard applied to the total Project infrastructure cost burden as a percentage of total Project market value.

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The cost burden in Table 19 is based on one financing scheme where the majority of the Facilities costs are funded through existing development impact fee programs and a SEDA Special Financing District to provide additional funding through a plan area fee program, CFD bond financing, and/or other developer- funded sources. If financing through other sources, such as PPP funding and more grant funding, is obtained, the results of the feasibility analysis would be improved.

Backup Cost Burden and Market Value Estimates
The cost burden from existing fee programs is estimated as the fee revenue generated by SEDA through participation in existing development fee programs.

Tables C-5 and C-6 of Appendix C estimate the percentages of SEDA infrastructure costs funded through existing development fee programs. These percentages are used to estimate the total existing development impact fee revenue available to fund SEDA Facilities (see Table 13).

Table C-7 of Appendix C details the calculation of total estimated market value by phase.

Two-Percent Test
The second test of feasibility is a test of total taxes and assessments as a percentage of the home sales price (Two-Percent Test). The purpose of estimating the total taxes and assessments as a percentage of sales price is to ensure that current and proposed taxes and assessments do not exceed 1.8 percent of the value of the property.
3 The State’s Proposition 13 limited general property tax to 1 percent of the value of the property. Based on the Two-Percent Test, other bonded debt, special assessments, and other special taxes should not exceed an additional 1 percent (for a total of 2 percent) of the total value of the property.

The industry guideline follows the principle that total taxes and assessments on a developed residential unit should not exceed 2 percent of the value of the property.

If a Mello-Roos CFD special tax is chosen as an option to fund infrastructure costs not covered by other existing or proposed financing programs, this feasibility test assesses the additional special tax burden on residential dwelling units. The estimated maximum annual special tax rates that could be implemented as part of a Mello-Roos CFD are included in this feasibility test and detailed in Appendix D. 3 Although the guideline is 2 percent, EPS has used a target range of 1.7-1.8 percent to allow for fluctuations in housing values or additional taxes and assessments as needed.

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Two-Percent Test Findings
Under the Two-Percent Test, a total of taxes and assessments as a percentage of sales price that is less than 1.8 percent is considered an indicator of financial feasibility. Table 20 presents the total estimated taxes and assessments as a percentage of home sales price for each proposed residential prototype. The total annual amount includes the following taxes and assessments:
• G eneral Property taxes (1%).
• Oth er ad valorem taxes (e.g., school/other General Obligation bonds). • A dditional existing and proposed special taxes and assessmen ts (
e.g., CFD No. 11 to fund ongoing operations and maintenance costs). • A n estimate of SEDA infrastructure CFD special taxes, based on tax rates that are estimated to keep the Project competitive with proximate new development.

Refer to Appendix D for more information on the Project’s potential bonding capacity assuming these preliminary maximum special tax rates.

As shown, total existing and proposed taxes and assessments for Project homes for all residential land uses is approximately 1.70 percent. Under the 2 percent test, the current and proposed annual tax burden appears to be feasible for all residential land uses.

SEDA Specific Plan Public Facilities Financing Options
May 2025
Economic & Planning Systems, Inc. (EPS) 79
Table 20 Estimated Annual Taxes/Assessments as a Percentage of Sales Price (2025$) Item
Percentage
Single Family
Low Density
Single Family
Medium Density Multifamily
Assumptions
Estimated Average Sales Price $1,500,000 $465,000 $290,000 Les
s Homeowner Exemption ($7,000) ($7,000) $0
Estimated Taxable Sales Price $1,493,000 $458,000 $290,000 Ad Valorem Taxes
General Property Tax 1.000000% $14,930 $4,580 $2, 900
Clovis USD/Sanger USD (average) [1] 0.212555% $3,173 $974 $616 Fresno Pension 0.032438% $484 $149 $94
State Center Community College [2] 0.020406% $305 $93 $59 Total Ad Valorem Taxes 1.265399% $18,892 $5,796 $3, 670 Existing Special Taxes/Assessments
PACE [3] TBD TBD TBD
F
resno Irrigation District [4] NA NA NA
Metropolitan Flood Assessment [5] $22 $28 $22
Fresno Mosquito & Vector $6 $6 $2
City Of Fresno CFD #11 (Mello-Roos) [6] $630 $630 $473
Total Existing Special Taxes/Assessments $658 $664 $497 Subtotal Existing Taxes and Assessments $19,550 $6,459 $4,167 Percentage of Sales Price 1.30% 1.39% 1.44%
Additional Capacity for SEDA Special Taxes for $5,900 $1,400 $800 Infrastructure or Services (Rounded)
Total Existing and Potential New Taxes/Assessments $25,450 $7,859 $4,967 Total Taxes/Assessments as % of Sales Price [7] 1.70% 1.69% 1.71% Source: EPS; City of Fresno; Fresno County.
[1] S
EDA development is split between Clovis USD and Sanger USD. See Table D-4 for detailed calculation of average tax rate. [2] S
ee Table D-4 for details.
[3] P
ACE Programs in Fresno include the California HERO Program, CHFA CFD 2014-1 (YGRENE), and California First Fresno.

A
ssessments are determined by factors pertaining to improvements and are based on individual projects. [4] F
resno Irrigation District contracts with the City of Fresno to provide Water Service. It is assumed that this assessment will not be l
evied on new development.
[5] M
etropolitan Flood Assessment Rates are determined by the Fresno Metropolitan Assessment Zones and are based on property t
ype. SEDA falls entirely within Zone 1 of the Fresno Metropolitan Benefit Assessment Zones. [6] Rec
ent maximum special tax rates for the City's Services CFD-11 per lot were obtained from the City Public Works department and us
ed to estimate potential tax burdens. For the purpose of this analysis, single-family rates are assumed to be $630 per unit, while m
ultifamily units are assumed to equal 75% of the single family rate. Actual tax rates will be determined when projects are annexed i
nto the CFD.
[7] A
lthough the State guideline is 2%, this analysis uses a target of approximately 1.7% for evaluating feasibility to allow for additional t
axes and assessments as needed.

Residential

Economic & Planning Systems, Inc. (EPS) 80
Applicable City Policies and Implementation
Plan
Applicable General Plan Policies
In addition to applicable Specific Plan policies regarding infrastructure financing, the Financing Options report has been prepared to comply with the following adopted City General Plan policies related to public infrastructure and new development in the City and in annexation areas.
• General Plan Policy LU-1-e: Annexation Requirements. Adopt implementing policies and requirements that achieve annexations to the City that conform to the General Plan Land Use Designations and open space and park system and are revenue neutral and cover all costs for public infrastructure, public facilities, and public services on an ongoing basis consistent with the requirements of ED-5-b [described below]. • General Plan Policy ED-5-b: Fair and Proportional Payments. Require new residential and commercial development that requires annexation to the City to pay its fair and proportional share of needed community improvements through impact fees, assessment districts, and other mechanisms. Approve new residential and commercial development projects that require annexation to the City only after making findings that all of the following conditions are met:
‒ No City revenue will be used to replace or provide developer funding that has or would have been committed to any mitigation project. ‒ The development project will fully fund public facilities and infrastructure as necessary to mitigate any impacts arising from the new development. ‒ The development project will pay for public facilities and infrastructure improvements in proportion to the development’s neighborhood and citywide impacts.
‒ The development will fully fund ongoing public facility and infrastructure maintenance and public service costs.

SEDA Specific Plan Public Facilities Financing Options
May 2025
Economic & Planning Systems, Inc. (EPS) 81
Implementation Plan
The financing for SEDA infrastructure improvements would be initiated through a variety of implementation actions taken by the City in cooperation with Project developers.

SEDA Infrastructure and Public Facility Improvements

1. Continue to analyze all infrastructure improvements that have been identified for SEDA to ensure completeness and accuracy and to assist assignment of funding responsibility based on “rational nexus” principles and adoption of financing mechanisms.

2. Evaluate specific infrastructure items in relation to likely development patterns and establish a schedule for constructing the improvements in coordination with development activity. Begin engineering design and initiate construction of the high-priority improvements.

3. Secure any required right-of-way and public facility sites (e.g., parks, transit) on an opportunistic basis as they become available. Ensure that such acquisition occurs no later than approval of the final subdivision map of any directly adjoining or surrounding development project or otherwise requiring completion of the facility.

4. Update relevant existing fee programs with current Project land uses, facilities, or revenue contributions.

Financing Mechanisms

1. Determine the viability of a SEDA Fee Program.

2. If a fee program is selected, prepare and adopt a Financing Plan Nexus Study that includes a SEDA Fee Program and provides a technical and legal basis for subsequent implementation of financing mechanisms and ongoing updating of the fee. The SEDA Fee Program should include components for the net costs of all Project facility improvements, as well as a component to administer and update the SEDA Fee Program.

3. Prepare an implementation framework for establishing a Mello-Roos CFD if there is sufficient interest among property owners in the Project.

4. Determine the viability of an EIFD, including conducting outreach and discussions with City staff and relevant stakeholders, evaluating EIFD boundaries, tax increment contributions, the cost of targeted infrastructure projects, and its interaction with other selected financing mechanisms. Note that EIFDs require taxing authorities to divert a portion of property and sales tax revenue from the City General Fund to fund Project improvements.

SEDA Specific Plan Public Facilities Financing Options
May 2025
Economic & Planning Systems, Inc. (EPS) 82

5. If an EIFD is selected, prepare an EIFD formation schedule that includes adopting a Resolution of Intent to form an EIFD and establish a Public Finance Authority, which authorizes the preparation and adoption of an Infrastructure Finance Plan which documents the details of the EIFD.

6. Insofar as the investments in public improvements exceed funding immediately available (through impact fees and other sources), establish a mechanism for interim funding of the “oversized” facilities and paying, reimbursing, or providing fee credits against these costs as subsequent development occurs.

Regulatory and Project-Related Actions

1. As development occurs, initiate annexation proceedings with the Fresno Local Agency Formation Commission (LAFCO) to annex portions of the Project into the City and other special districts, as needed, with property owner consultation. To the extent that portions of the Project do not annex into the City, these areas could have different service providers and levels of services for many municipal services. Additionally, if new development occurs in unannexed Project areas, this development would not be required to participate in City fee programs, which may result in reduced fee program revenues generated by the Project than currently assumed, although there may be corresponding changes to infrastructure obligations.

2. As development occurs, initiate annexation proceedings, with property owner consultation, to annex portions of the Project into the City, City CFD No. 9, City CFD No. 11, and other applicable districts to fund ongoing operations and maintenance. Portions of the Project that do not annex into the City would not be annexed into CFD No. 9 or CFD No. 11, which would result in varying levels of service to development in SEDA.

3. Develop standard business terms for Development Agreements (DAs).

It is assumed individual developers and the City may seek a DA to secure entitlements and to clarify other regulatory and financial requirements.

4. Develop standard conditions for subdivision maps and other Project approvals that incorporate SEDA-specific backbone infrastructure and public facility requirements.

5. Develop standard agreements and terms for backbone infrastructure and public facility credit and reimbursement agreements that may be entered into with Project developers.

APPENDICES:

Appendix A: Land Use Backup
Appendix B: Supporting Calculations for
Facilities Cost Estimates
Appendix C: Supporting Calculations for
Existing Fee Programs Revenue
and SEDA Special Financing
District Funding
Appendix D: Estimated Maximum Special Tax
Revenue and Bond Sizing

APPENDIX A:

Land Use Backup

Table A-1 Land Uses—Projected Future Development........ A-1 Table A-2 Population and Employees—
Projected Future Development ........................ A-2 Table A-3 Land Use Detail by Summary Land Use
Categories—Projected Future Development ....... A-3
Table A-4 Land Use Detail (2 pages) .............................. A-4 Table A-5 Estimated Future Development by
School District .............................................. A-6 Table A-6 Estimated Persons per Household—
City of Fresno ............................................... A-7

Table A-1
Fresno SEDA Financing Options
Land Uses - Projected Future Development [1]
Item
Average
Units per
Acre/FAR
Gross
Acres
Net
Developable
Acres
Dwelling
Units
Building
Square Feet
Gross
Acres
Net
Developable
Acres
Dwelling
Units
Building
Square Feet
Gross
Acres
Net
Developable
Acres
Dwelling
Units
Building
Square Feet
Gross
Acres
Net
Developable
Acres
Dwelling
Units
Building
Square Feet
Residential
Units per Acre
Single Family Low Density 0.25 158.4 79.2 20 - 0.0 0 - 0.0 599.9 300.0 75 - 758.3 379.2 95 - Single Family Medium Density
Neighborhood Residential 20.00 350.4 233.6 4,673 - 135.7 90. 5 1,810 - 447.6 298.4 5,969 - 933.7 622.5 12,451 - Neighborhood Town Center 30.00 12.9 9.9 297 - 12.9 9 .9 297 - 48.7 37.5 1,124 - 74.4 57.2 1,717 - Mixed Residential 25.00 72.8 48.5 1,213 - 66.1 44. 1 1,103 - 285.0 190.0 4,749 - 423.9 282.6 7,065 - Subtotal/Avg. at Buildout 22.06 436.0 292.0 6,182 -
214.7 144.5 3,209 -
781.3 525.8 11,842 -
1,432.0 962.3 21,232 -
Total Single Family 15.90 594.4 371.2 6,202 - 214.7 144.5 3,209 - 1,381.2 825.8 11,917 - 2,190.4 1,341.5 21,327 -
Multifamily
Neighborhood Residential 20.00 116.8 77.9 1,558 - 45.2 30.2 603 - 149.2 99.5 1,990 - 311.2 207.5 4,150 - Neighborhood Town Center 30.00 12.9 9.9 297 - 12.9 9 .9 297 - 48.7 37.5 1,124 - 74.4 57.2 1,717 - Mixed Residential 25.00 72.8 48.5 1,213 - 66.1 44. 1 1,103 - 285.0 190.0 4,749 - 423.9 282.6 7,065 - Community Town Center 55.00 29.3 24.5 1,345 - 25.1 20.9 1,151 - 27.2 22.7 1,248 - 81.7 68.1 3,744 - Regional Town Center 70.00 0.0 0.0 0 - 0.0 0.0 0 - 93.1 54.8 3,835 - 93.1 54.8 3,835 - Subtotal/Avg. at Buildout 30.60 231.8 160.7 4,412 -
149.3 105.1 3,153 -
603.2 404.4 12,946 -
984.4 670.2 20,511 -
Total Residential 20.80 826.2 532.0 10,614 - 364.1 249.5 6, 362 - 1,984.4 1,230.2 24,862 - 3,174.7 2,011.7 41,838 -
Nonresidential FAR
Commercial Retail
Neighborhood Residential 0.19 5.4 4.0 - 32,631 2. 1 1.6 - 12,639 6.9 5.1 - 41,686 14.3 10.7 0 86,956 Neighborhood Town Center 0.19 4.5 3.3 - 27,117 4. 5 3.3 - 27,117 16.9 12.7 - 102,725 25.8 19.4 0 156,959 Mixed Residential 0.19 8.4 6.3 - 51,044 7.6 5.7 - 46,377 32.9 24.7 - 199,799 48.9 36.7 0 297,220 Community Town Center 0.39 36.7 27.5 - 464,178 31.4 23.5 - 397,183 34.0 25.5 - 430,680 102.1 76.5 0 1,292,041 Regional Town Center 0.54 0.0 0.0 - 0 0.0 0.0 - 0 90.4 67.8 - 1,601,413 90.4 67.8 0 1,601,413 Flexible R&D 0.09 0.0 0.0 - 0 115.3 86.5 - 350,264 69.3 51.9 - 210,418 184.5 138.4 0 560,682 Office Center 0.19 0.0 0.0 - 0 5.1 3.8 - 31,112 7.1 5.3 - 43,266 12.2 9.2 0 74,378 Institutional 0.39 12.4 9.3 - 156,663 9.6 7 .2 - 121,153 0.0 0.0 - 0 21.9 16.5 0 277,815 Subtotal/Avg. at Buildout 0.27 67.3 50.5 - 731,633
175.5 131.6 - 985,845
257.4 193.0 - 2,629,988
500.2 375.1 - 4,347,465
Commercial O
ffice
Neighborhood Town Center 0.23 3.6 2.7 - 26,909 3.6 2.7 - 26,909 13.7 10.3 - 101,936 20.9 15.7 0 155,754 Community Town Center 0.48 14.3 10.7 - 221,275 12.2 9.2 - 189,338 13.2 9.9 - 205,306 39.7 29.8 0 615,919 Regional Town Center 0.67 0.0 0.0 - 0 0.0 0.0 - 0 58.1 43.5 - 1,261,266 58.1 43.5 0 1,261,266 Flexible R&D 0.11 0.0 0.0 - 0 163.3 122.5 - 608,254 98.1 73.6 - 365,404 261.4 196.1 0 973,658 Office Center 0.23 0.0 0.0 - 0 52.5 39.4 - 390,911 73.0 54.7 - 543,611 125.5 94.1 0 934,521 Subtotal/Avg. at Buildout 0.24 17.9 13.4 - 248,183
231.6 173.7 - 1,215,412
256.1 192.0 - 2,477,523
505.5 379.2 - 3,941,118
Light Industrial 0
.11 0.0 0.0 - 0
490.0 367.5 - 1,824,762
294.3 220.8 - 1, 096,211 784.3 588.2 0 2,920,973
Total Nonresidential 0.19 85.1 63.9 - 979,816 897.1 672.8 - 4,026,019 807.8 605.8 - 6,203,721
1,790.0 1,342.5 - 11,209,556
Total Residential and Nonresidential 911.4 595.8 10,614 979,816 1,261.2 922.3 6,362 4,026,019 2,792.2 1,836.0 24,862 6,203,721 4,964.8 3,354. 2 41,838 11,209,556 Public/Quasi-Public
Civic [2] 0.20 217.4 163.0 - 2,021,237.6 159.9 119.9 - 1,544,824.9 286.5 214.9 - 1,902,771 663.7 497.8 0 5,468,833
Parks 0.00 96.9 96.9 - 0.0 103.0 103.0 - 0.0 236.2 236.2 - - 436.0 436.0 0 - Flood Control Basin 0.00 266.0 266.0 - 0.0 0.0 - - 0.0 0.0 0.0 - - 266.0 266.0 0 - Right-of-Way 0.00 121.0 121.0 - 0.0 97.0 97. 0 - 0.0 296.0 296.0 - - 514.0 514.0 0 - Total Public/Quasi-Public - 701.3 646.9 - 2,021,237.6 359.9 319. 9 - 1,544,825 818.6 747.0 - 1,902,771 1,879.7 1,713.8 - 5,468,833 Total Future Development 1,612.6 1,242.7 10,614 3,001,054 1,621.0 1,242.2 6, 362 5,570,844 3,610.8 2,583.0 24,862 8,106,492 6,844.5 5,068.0 41, 838 16,678,389 Source: City of Fresno; EPS
[1] Exc
ludes existing development expected to remain (Rural Residential). See Table A-3 and Table A-4 for more detailed land use information. [2] Inc
ludes Civic, Civic Office and Civic Mixed Use. FAR is a weighted average across all civic categories. See Table A-4 for more detail.

Phase 2 and 3 BuildoutPhase 1N Phase 1S
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Table A-2
Fresno SEDA Financing Options
Population and Employees - Projected Future Development Item
Dwelling
Units
Building
Square Feet Pop. Emp.

Dwelling
Units
Building
Square Feet Pop. Emp.

Single Family
Rural Cluster 3.31 - 20
-
66 - - - - -
75 -
248 -
95 -
314 -
Neighborhood Residential 3.31 - 4,673 -
15,466 -
1,810 -
5,990 -
5,969 -
19,756 -
12,451 -
41,212 -
Neighborhood Town Center 3.31 -
297 -
981 -
297 -
981 -
1,124 -
3,720 -
1,717 -
5,683 -
Mixed Residential 3.31 - 1,213 -
4,015 -
1,103 -
3,649 -
4,749 -
15,719 -
7,065 -
23,383 -
Subtotal 6,202 -
20,528 -
3,209 -
10,620 -
11,917 -
39,443 -
21,327 -
70,592 -
Multifamily
Neighborhood Residential 2.29 -
1,558 -
3,567 -
603 -
1,381 -
1,990 -
4,556 -
4,150 -
9,504 -
Neighborhood Town Center 2.29 -
297 -
679 -
297 -
679 -
1,124 -
2,574 -
1,717 -
3,932 -
Mixed Residential 2.29 - 1,213 -
2,778 -
1,103 -
2,525 -
4,749 -
10,875 -
7,065 -
16,178 -
Community Town Center 2.29 -
1,345 -
3,080 -
1,151 -
2,636 -
1,248 -
2,858 -
3,744 -
8,574 -
Regional Town Center 2.29 -
- -
- -
- -
- -
3,835 -
8,782 -
3,835 -
8,782 -
Subtotal 4,412 -
10,104 -
3,153 0 7,221 0 12,946 -
29,645 -
20,511 -
46,970 -
Commercial Retail
Neighborhood Residential - 550 -
32,631 -
59 -
12,639 -
23 -
41,686 -
76 -
86,956 -
158
Neighborhood Town Center -
550 -
27,117 -
49 -
27,117 -
49 -
102,725 -
187 -
156,959 -
285
Mixed Residential - 550 -
51,044 -
93 -
46,377 -
84 -
199,799 -
363 -
297,220 -
540
Community Town Center -
550 -
464,178 -
844 -
397,183 -
722 -
430,680 -
783 -
1,292,041 -
2,349
Regional Town Center -
300 -
- -
- -
- -
- -
1,601,413 -
5,338 -
1,601,413 -
5,338
Flexible R&D - 250 -
- -
- -
350,264 -
1,401 -
210,418 -
842 -
560,682 -
2,243
Office Center -
470 -
- -
- -
31,112 -
66 -
43,266 -
92 -
74,378 -
158
Institutional -
350 -
156,663 -
448 -
121,153 -
346 -
- -
- -
277,815 -
794
Subtotal/Average at Buildout -
366 -
731,633 -
1,493 - 985,845 -
2,691 -
2,629,988 -
7,681 -
4,347,465 -
11,865
Commercial Office
Neighborhood Town Center -
750 -
26,909 -
36 -
26,909 -
36 -
101,936 -
136 -
155,754 -
208
Community Town Center -
750 -
221,275 -
295 -
189,338 -
252 -
205,306 -
274 -
615,919 -
821
Regional Town Center -
450 -
- -
- -
- -
- -
1,261,266 -
2,803 -
1,261,266 -
2,803
Flexible R&D - 450 -
- -
- -
608,254 -
1,352 -
365,404 -
812 -
973,658 -
2,164
Office Center -
550 -
- -
- -
390,911 -
711 -
543,611 -
988 -
934,521 -
1,699
Subtotal/Average at Buildout - 512 -
248,183 -
331 -
1,215,412 -
2,351 - 2,477,523 -
5,013 -
3,941,118 -
7,695
Light Industrial - 450 - - - - -
1,824,762 -
4,055 -
1,096,211 -
2,436 -
2,920,973 -
6,491
Total Residential and Nonresidential 10,614 979,816 30,632 1, 824 6,362 4,026,019 17,841 9,097 24,862 6,203,721 69,088 15,130 41,838 11,209,55 6 117,562 26,051 Civic [3] - 542 -
2,021,238 -
4,218 -
1,544,825 -
3,300 - 1,902,771 -
2,571 -
5,468,833 - 10,088
Total Futur
e Development - - 10,614 3,001,054 30,632 6,042 6,362 5,570,844 17,841 12,397 24,862 8, 106,492 69,088 17,701 41,838 16,678,389 11 7,562 36,139 Source: City of Fresno; EPS.
[1] See Table A-6 for PPH factors.
[2] See Table A-3 for square feet per employee factors. [3] Civic employees detailed in Table A-4. Square feet per employee is a weighted average across all civic categories at buildout.

BuildoutSquare
Feet per
Emp. [2]
Phase 1S
PPH [1]
Phase 1N Phase 2 and 3
Prepared by EPS 4/16/2025 Z:\Shared\Projects\SAC\242000\242056 Fresno SEDA PFFP\Models\242056 PFFP 2025 4.15.25.xlsx A-2
Table A-3
Fresno SEDA Financing Options
Land Use Detail by Summary Land Use Categories - Projected Future Development [1] Item
Gross
Acres
Net
Developable
Acres
Dwelling
Units
Building
Square
Feet
Gross
Acres
Net
Developable
Acres
Dwelling
Units
Building
Square
Feet
Gross
Acres
Net
Developable
Acres
Dwelling
Units
Building
Square
Feet
Gross
Acres
Net
Developable
Acres
Dwelling
Units
Building
Square
Feet
Gross
Acres
Net
Developable
Acres
Dwelling
Units
Building
Square Feet
Single Family [2]
Multifamily
Rural Cluster 100% 0% 0.25 - 50% 158.4 79.2 20 - - - - - 303.9 152.0 38 - 296.0 148.0 37 - 758.3 379.2 95 - Neighborhood Residential 75% 25% 20.00 - 67% 350.4 233.6 4,673 - 135.7 90.5 1,810 - 345.2 230.1 4,603 - 102.4 68.3 1,366 - 933.7 622.5 12,451 - Neighborhood Town Center 50% 50% 30.00 - 77% 12.9 9.9 297 - 12.9 9.9 297 - 30.7 23.6 709 - 18.0 13.8 416 - 74.4 57.2 1,717 - Mixed Residential 50% 50% 25.00 - 67% 72.8 48.5 1,213 - 66.1 44.1 1,103 - 224.6 149.8 3,744 - 60.3 40.2 1,005 - 423.9 282.6 7,065 - Subtotal 594.4 371.2 6,202 - 214.7 144.5 3,209 - 904.4 555.5 9,093 - 476.8 270.4 2,823 - 2,190.4 1,341.5 21,327 - Multifamily
Neighborhood Residential 75% 25% 20.00 116.8 77.9 1,558 - 45.2 30.2 603 - 115.1 76.7 1,534 - 34.1 22.8 455 - 311.2 207.5 4,150 - Neighborhood Town Center 50% 50% 30.00 12.9 9.9 297 - 12.9 9.9 297 - 30.7 23.6 709 - 18.0 13.8 416 - 74.4 57.2 1,717 - Mixed Residential 50% 50% 25.00 72.8 48.5 1,213 - 66.1 44.1 1,103 - 224.6 149.8 3,744 - 60.3 40.2 1,005 - 423.9 282.6 7,065 - Community Town Center 0% 100% 55.00 - 83% 29.3 24.5 1,345 - 25.1 20.9 1,151 - 0.0 0.0 0 - 27.2 22.7 1,248 - 81.7 68.1 3,744 - Regional Town Center 0% 100% 70.00 - 59% 0.0 0.0 0 - - - - - 93.1 54.8 3,835 - 0.0 0.0 0 - 93.1 54.8 3,835 - Subtotal 231.8 160.7 4,412 - 149.3 105.1 3,153 - 463.5 304.9 9,822 - 139.7 99.5 3,124 - 984.4 670.2 20,511 - Commercial Retail
Neighborhood Residential 0.19 550 75% 5.4 4.0 - 32,631 2.1 1.6 - 12,639 5.3 4.0 - 32,145 1.6 1.2 - 9,540 14.3 10.7 - 86,956 Neighborhood Town Center 0.19 550 75% 4.5 3.3 - 27,117 4.5 3.3 - 27,117 10.7 8.0 - 64,762 6.2 4.7 - 37,964 25.8 19.4 - 156,959 Mixed Residential 0.19 550 75% 8.4 6.3 - 51,044 7.6 5.7 - 46,377 25.9 19.4 - 157,506 7.0 5.2 - 42,293 48.9 36.7 - 297,220 Community Town Center 0.39 550 75% 36.7 27.5 - 464,178 31.4 23.5 - 397,183 0.0 0.0 - 0 34.0 25.5 - 430,680 102.1 76.5 - 1,292,041 Regional Town Center 0.54 300 75% 0.0 0.0 - 0 0.0 0.0 - 0 90.4 67.8 - 1,601,413 0.0 0.0 - 0 90.4 67.8 - 1,601,413 Flexible R&D 0.09 250 75% 0.0 0.0 - 0 115.3 86.5 - 350,264 69.3 51.9 - 210,418 0.0 0.0 - 0 184.5 138.4 - 560,682 Office Center 0.19 470 75% 0.0 0.0 - 0 5.1 3.8 - 31,112 7.1 5.3 - 43,266 0.0 0.0 - 0 12.2 9.2 - 74,378 Institutional 0.39 350 75% 12.4 9.3 - 156,663 9.6 7.2 - 121,153 0.0 0.0 - 0 0.0 0.0 - 0 21.9 16.5 - 277,815 Subtotal 67.3 50.5 - 731,633 175.5 131.6 - 985,845 208.6 156.4 - 2,109,510 48.8 36.6 - 520,478 500.2 375.1 - 4,347,465 Commercial Office Office
Neighborhood Town Center 0.23 750 75% 3.6 2.7 - 26,909 3.6 2.7 - 26,909 8.6 6.5 - 64,264 5.1 3.8 - 37,672 20.9 15.7 - 155,754 Community Town Center 0.48 750 75% 14.3 10.7 - 221,275 12.2 9.2 - 189,338 0.0 0.0 - - 13.2 9.9 - 205,306 39.7 29.8 - 615,919 Regional Town Center 0.67 450 75% 0.0 0.0 - - 0.0 0.0 - - 58.1 43.5 - 1,261,266 0.0 0.0 - - 58.1 43.5 - 1,261,266 Flexible R&D 25% 75% 0.11 450 75% 0.0 0.0 - - 163.3 122.5 - 608,254 98.1 73.6 - 365,404 0.0 0.0 - - 261.4 196.1 - 973,658 Office Center 0.23 550 75% 0.0 0.0 - - 52.5 39.4 - 390,911 73.0 54.7 - 543,611 0.0 0.0 - - 125.5 94.1 - 934,521 Subtotal 17.9 13.4 - 248,183 231.6 173.7 - 1,215,412 237.8 178.3 - 2,234,544 18.3 13.7 - 242,979 505.5 379.2 - 3,941,118 Light Industrial 25% 75% 0.11 450 0.75 0.0 0.0 - - 490.0 367.5 - 1,824,762 294.3 220.8 - 1,096,211 0.0 0.0 - - 784.3 588.2 - 2,920,973 Total Residential and Nonresidential 911.4 595.8 10,614 979,816 1,261.2 922.3 6,362 4,026,019 2,108.7 1,415.8 18,915 5,440,265 683.5 420.2 5,9 47 763,456 4,964.8 3,354.2 41,838 11,209,556 Public/Quasi-Public
Civic [3] 0.30 75% 217.4 163.0 - 2,021,238 159.9 119.9 - 1,544,825 152.0 114.0 - 1,137,993 134.5 100.9 - 764,778 663.7 497.8 - 5,468,833 Parks - - - 96.9 96.9 - - 103.0 103.0 - - 185.1 185.1 - - 51.1 51.1 - - 436.0 436.0 - - Flood Control Basin - - - 266.0 266.0 - - 0.0 - - - 0.0 0.0 - - 0.0 0.0 - - 266.0 266.0 - - Right-of-Way 121.0 121.0 - - 97.0 97.0 - - 157.0 157.0 - - 139.0 139.0 - - 514.0 514.0 - - Total Public/Quasi-Public - - - 701.3 646.9 - - 359.9 319.9 - - 494.0 456.0 - - 324.6 291.0 - - 1,879.7 1,713.8 - 5,468,833 Total Future Development 1,612.6 1,242.7 10,614 979,816 1,621.0 1,242.2 6,362 4,026,019 2,602.7 1,871.9 18,915 5,440,265 1,008.2 711.2 5,947 76 3,456 6,844.5 5,068.0 41,838 16,678,389 Existing Development Expected to Remain [4] 519.4 346.2 173 0 0.0 0.0 0 0 16.3 10.9 5 0 1,419.8 946.6 473 0 1,955.5 1,304 651 - Total Existing and Future Development 2,132.0 1,589.0 10,787 979,816 1,621.0 1,242.2 6,362 4,026,019 2,619.0 1,882.7 18,920 5,440,265 2,428. 0 1,657.7 6,420 763,456 8,800.0 6,371.7 42,489 16,678,389 Source: City of Fresno; EPS.
[1] See Table A-4. Standard and mixed use categories of same type are combined. [2] Excludes Rural Residential, which is existing development. [3] Includes Civic, Civic Office and Civic Mixed Use. FAR and square feet per employee are weighted averages. See Table A-4 fo r more detail. [4] Represents Rural Residential land use category.

Light
Industrial
Average
Units per
Acre/FAR
Sq. Ft.
per
Emp.

Net to
Gross
Pct.

Pct.

Distribution
Single
Family Multifamily
Single
Family
Phase 1SPhase 1N Phase 2 Phase 3 Total
Prepared by EPS 4/16/2025 Z:\Shared\Projects\SAC\242000\242056 Fresno SEDA PFFP\Models\242056 PFFP 2025 4.15.25.xlsx A-3
A-3

Page 1 of 2 ends

Fresno SEDA Financing Options
Land Use Detail [1]
Item
Average
Units per
Acre/FAR
Sq. Ft.
per
Emp.

Net to
Gross
Pct.

Gross
Acres
Net
Dev.

Acres
Dwelling
Units
Building
Square
Feet Employees
Gross
Acres
Net
Dev.

Acres
Dwelling
Units
Building
Square
Feet Employees
Residential
Residential
Rural Cluster 0.25 - 50% 158.4 79.2 20 - - 0.0 0.0 0 - - 303.9 152.0 38 - - 296.0 148.0 37 - - 758.3 379.2 95 - - Rural Residential 0.50 - 67% 519.4 346.2 173 - - 0.0 0.0 0 - - 16.3 10.9 5 - - 1,419.8 946.6 473 - - 1,955.5 1,303.7 651 - - Neighborhood Residential 20.00 - 67% 461.8 307.9 6,158 - - 178.9 119.3 2,385 - - 454.9 303.3 6,066 - - 135.0 90.0 1,800 - - 1,230.7 820.4 16,409 - - Neighborhood Town Center 30.00 - 77% 25.5 19.6 588 - - 25.5 19.6 588 - - 60.9 46.8 1,405 - - 35.7 27.5 824 - - 147.6 113.5 3,405 - - Mixed Residential 25.00 - 67% 140.0 93.3 2,333 - - 127.2 84.8 2,120 - - 432.0 288.0 7,200 - - 116.0 77.3 1,933 - - 815.2 543.5 13,586 - - Community Town Center 55.00 - 83% 27.2 22.6 1,245 - - 23.2 19.4 1,065 - - 0.0 0.0 0 - - 25.2 21.0 1,155 - - 75.6 63.0 3,465 - - Regional Town Center 70.00 - 59% 0.0 0.0 0 - - 0.0 0.0 0 - - 87.3 51.4 3,595 - - 0.0 0.0 0 - - 87.3 51.4 3,595 - - Subtotal 1,332.2 868.9 10,517 - - 354.8 243.0 6,158 - - 1,355.4 852.3 18,309 - - 2,027.8 1,310.4 6,222 - - 5,070.2 3,274.6 41,206 - - Mixed Use Residential
Neighborhood Residential 20.00 - 67% 5.4 3.6 72 - - 2.1 1.4 28 - - 5.3 3.5 71 - - 1.6 1.0 21 - - 14.3 9.5 192 - - Neighborhood Town Center 30.00 - 77% 0.2 0.2 5 - - 0.2 0.2 5 - - 0.5 0.4 12 - - 0.3 0.2 7 - - 1.2 0.9 29 - - Mixed Residential 25.00 - 67% 5.6 3.7 93 - - 5.1 3.4 85 - - 17.3 11.5 288 - - 4.6 3.1 77 - - 32.6 21.7 543 - - Community Town Center 55.00 - 83% 2.2 1.8 100 - - 1.9 1.6 86 - - 0.0 0.0 0 - - 2.0 1.7 93 - - 6.1 5.1 279 - - Regional Town Center 70.00 - 59% 0.0 0.0 0 - - 0.0 0.0 0 - - 5.8 3.4 240 - - 0.0 0.0 0 - - 5.8 3.4 240 - - Subtotal 13.4 9.3 270 - - 9.2 6.5 204 - - 28.9 18.9 611 - - 8.5 6.1 198 - - 60.0 40.7 1,283 - - -
Total Residential 1,345.6 878.2 10,787 - - 364.1 249.5 6,362 - - 1,384.3 871.2 18,920 - - 2,036.3 1,316.4 6,420 - - 5,130.3 3,315.4 42,489 - - Commercial Retail
Commercial -
Neighborhood Town Center 0.19 550 75% 0.6 0.5 - 3,874 7 0.6 0.5 - 3,874 7 1.5 1.1 - 9,252 17 0.9 0.7 - 5,423 10 3.7 2.8 - 22,423 41 Community Town Center 0.39 550 75% 1.7 1.3 - 22,104 40 1.5 1.1 - 18,913 34 0.0 0.0 - 0 0 1.6 1.2 - 20,509 37 4.9 3.6 - 61,526 112 Regional Town Center 0.54 300 75% 0.0 0.0 - 0 0 0.0 0.0 - 0 0 6.5 4.9 - 116,044 387 0.0 0.0 - 0 0 6.5 4.9 - 116,044 387 Flexible R&D 0.09 250 75% 0.0 0.0 - 0 0 34.4 25.8 - 104,465 418 20.7 15.5 - 62,756 251 0.0 0.0 - 0 0 55.0 41.3 - 167,221 669 Office Center 0.19 470 75% 0.0 0.0 - 0 0 2.6 1.9 - 15,556 33 3.6 2.7 - 21,633 46 0.0 0.0 - 0 0 6.1 4.6 - 37,189 79 Subtotal 2.4 1.8 - 25,978 47 39.1 29.3 - 142,808 492 32.3 24.2 - 209,685 701 2.5 1.9 - 25,932 47 76.3 57.2 - 404,403 1,287 Mixed Use Commercial
Neighborhood Residential 0.19 550 75% 5.4 4.0 - 32,631 59 2.1 1.6 - 12,639 23 5.3 4.0 - 32,145 58 1.6 1.2 - 9,540 17 14.3 10.7 - 86,956 158 Neighborhood Town Center 0.19 550 75% 3.8 2.9 - 23,243 42 3.8 2.9 - 23,243 42 9.1 6.9 - 55,510 101 5.4 4.0 - 32,540 59 22.1 16.6 - 134,536 245 Mixed Residential 0.19 550 75% 8.4 6.3 - 51,044 93 7.6 5.7 - 46,377 84 25.9 19.4 - 157,506 286 7.0 5.2 - 42,293 77 48.9 36.7 - 297,220 540 Community Town Center 0.39 550 75% 34.9 26.2 - 442,074 804 29.9 22.4 - 378,270 688 0.0 0.0 - 0 0 32.4 24.3 - 410,172 746 97.2 72.9 - 1,230,516 2, 237 Regional Town Center 0.54 300 75% 0.0 0.0 - 0 0 0.0 0.0 - 0 0 83.8 62.9 - 1,485,369 4,951 0.0 0.0 - 0 0 83.8 62.9 - 1,485,369 4,951 Flexible R&D 0.09 250
75% 0.0 0.0 - 0 0 80.9 60.7 - 245,799 983 48.6 36.5 - 147,662 591 0.0 0.0 - 0 0 129.5 97.1 - 393,461 1,574 Office Center 0.19 470 75% 0.0 0.0 - 0 0 2.6 1.9 - 15,556 33 3.6 2.7 - 21,633 46 0.0 0.0 - 0 0 6.1 4.6 - 37,189 79 Institutional [2] 0.39 350 75% 12.4 9.3 - 156,663 448 9.6 7.2 - 121,153 346 0.0 0.0 - 0 0 0.0 0.0 - 0 0 21.9 16.5 - 277,815 794 Subtotal 64.9 48.7 - 705,655 1,446 136.4 102.3 - 843,037 2,200 176.3 132.2 - 1,899,825 6,034 46.3 34.7 - 494,546 899 423.9 318.0 - 3,943,063 10,578 Total Commercial Retail 67.3 50.5 - 731,633 1,493 175.5 131.6 - 985,845 2,692 208.6 156.4 - 2,109,510 6,734 48.8 36.6 - 520,478 946 500.2 375.1 - 4,347,465 11,866 Commercial Office
Office
Neighborhood Town Center 0.23 750 75% 3.6 2.7 - 26,909 36 3.6 2.7 - 26,909 36 8.6 6.5 - 64,264 86 5.1 3.8 - 37,672 50 20.9 15.7 - 155,754 208 Community Town Center 0.48 750 75% 9.9 7.4 - 153,538 205 8.5 6.3 - 131,378 175 0.0 0.0 - 0 0 9.2 6.9 - 142,458 190 27.5 20.7 - 427,373 570 Regional Town Center 0.67 450 75% 0.0 0.0 - 0 0 0.0 0.0 - 0 0 37.1 27.8 - 806,072 1,791 0.0 0.0 - 0 0 37.1 27.8 - 806,072 1,791 Flexible R&D 0.11 450 75% 0.0 0.0 - 0 0 653.3 490.0 - 2,433,016 5,407 392.4 294.3 - 1,461,614 3,248 0.0 0.0 - 0 0 1,045.7 784.3 - 3,894,631 8,655 Office Center 0.23 550 75% 0.0 0.0 - 0 0 48.6 36.5 - 362,308 659 67.6 50.7 - 503,834 916 0.0 0.0 - 0 0 116.3 87.2 - 866,142 1,575 Subtotal 13.5 10.1 - 180,446 241 714.0 535.5 - 2,953,610 6,276 505.8 379.4 - 2,835,785 6,041 14.2 10.7 - 180,130 240 1,247.5 935.7 - 6,149,971 12,798 Mixed Use Office
Community Town Center 0.48 750 75% 4.4 3.3 - 67,737 90 3.7 2.8 - 57,961 77 0.0 0.0 - 0 0 4.1 3.0 - 62,849 84 12.2 9.1 - 188,547 251 Regional Town Center 0.67 450 75% 0.0 0.0 - 0 0 0.0 0.0 - 0 0 21.0 15.7 - 455,194 1,012 0.0 0.0 - 0 0 21.0 15.7 - 455,194 1,012 Office Center 0.23 550 75% 0.0 0.0 - 0 0 3.8 2.9 - 28,603 52 5.3 4.0 - 39,776 72 0.0 0.0 - 0 0 9.2 6.9 - 68,380 124 Subtotal 4.4 3.3 - 67,737 90 7.6 5.7 - 86,564 129 26.3 19.7 - 494,970 1,084 4.1 3.0 - 62,849 84 42.3 31.7 - 712,120 1,387 Total Commercial Office 17.9 13.4 - 248,183 331 721.6 541.2 - 3,040,174 6,406 532.1 399.1 - 3,330,755 7,125 18.3 13.7 - 242,979 324 1,289.8 967.4 - 6,862,091 14,186 TotalPhase 1SPhase 1N Phase 2 Phase 3
Prepared by EPS 4/16/2025 Z:\Shared\Projects\SAC\242000\242056 Fresno SEDA PFFP\Models\242056 PFFP 2025 4.15.25.xlsx A-4

Page 2 of 2 ends

Fresno SEDA Financing Options
Land Use Detail [1]
Item
Average
Units per
Acre/FAR
Sq. Ft.
per
Emp.

Net to
Gross
Pct.

Gross
Acres
Net
Dev.

Acres
Dwelling
Units
Building
Square
Feet Employees
Gross
Acres
Net
Dev.

Acres
Dwelling
Units
Building
Square
Feet Employees
TotalPhase 1SPhase 1N Phase 2 Phase 3
Civic
Civic
Rural Cluster 0.14 1,200 75% 1.6 1.2 - 7,318 6 0.0 0.0 - 0 0 3.1 2.3 - 14,042 12 3.0 2.2 - 13,676 11 7.7 5.7 - 35,035 29 Rural Residential 0.14 1,400 75% 21.6 16.2 - 98,977 71 0.0 0.0 - 0 0 0.7 0.5 - 3,110 2 59.2 44.4 - 270,586 193 81.5 61.1 - 372,673 266 Neighborhood Residential 0.17 1,300 75% 10.7 8.1 - 58,947 45 4.2 3.1 - 22,832 18 10.6 7.9 - 58,069 45 3.1 2.4 - 17,234 13 28.6 21.5 - 157,083 121 Neighborhood Town Center 0.17 1,200 75% 28.5 21.4 - 156,287 130 28.5 21.4 - 156,287 130 68.0 51.0 - 373,250 311 39.9 29.9 - 218,801 182 164.8 123.6 - 904,624 754 Mixed Residential 0.17 1,200 75% 3.5 2.6 - 19,210 16 3.2 2.4 - 17,454 15 10.8 8.1 - 59,276 49 2.9 2.2 - 15,917 13 20.4 15.3 - 111,857 93 Community Town Center 0.35 1,100 75% 3.2 2.4 - 37,156 34 2.8 2.1 - 31,794 29 0.0 0.0 - 0 0 3.0 2.3 - 34,475 31 9.0 6.8 - 103,425 94 Regional Town Center 0.49 300 75% 0.0 0.0 - 0 0 0.0 0.0 - 0 0 9.7 7.3 - 156,057 520 0.0 0.0 - 0 0 9.7 7.3 - 156,057 520 Office Center 0.17 400 75% 0.0 0.0 - 0 0 3.2 2.4 - 17,563 44 4.5 3.3 - 24,424 61 0.0 0.0 - 0 0 7.7 5.7 - 41,987 105 Institutional 0.35 400 75% 121.1 90.8 - 1,385,004 3,463 93.7 70.3 - 1,071,070 2,678 0.0 0.0 - 0 0 0.0 0.0 - 0 0 214.8 161.1 - 2,456,073 6,140 Subtotal 0.30 190.3 142.7 0 1,762,899 3,765 135.5 101.6 0 1,316,999 2,913 107.3 80.5 0 688,228 1,000 111.1 83.3 0 570,689 445 544.2 408.1 0 4,338,815 8,123 Civic Office
Neighborhood Town Center 0.23 750 75% 14.0 10.5 - 104,469 139 14.0 10.5 - 104,469 139 33.5 25.1 - 249,496 333 19.6 14.7 - 146,256 195 81.2 60.9 - 604,690 806 Community Town Center 0.48 750 75% 1.6 1.2 - 24,837 33 1.4 1.0 - 21,252 28 0.0 0.0 - 0 0 1.5 1.1 - 23,045 31 4.5 3.3 - 69,134 92 Regional Town Center 0.67 450 75% 0.0 0.0 - 0 0 0.0 0.0 - 0 0 4.8 3.6 - 104,315 232 0.0 0.0 - 0 0 4.8 3.6 - 104,315 232 Subtotal 15.6 11.7 0 129,306 172 15.4 11.5 0 125,721 168 38.3 28.7 0 353,811 564 21.1 15.8 0 169,301 226 90.4 67.8 0 778,139 1,130 Civic Mixed Use
Neighborhood Town Center 0.17 1,200 75% 0.2 0.2 - 1,166 1 0.2 0.2 - 1,166 1 0.5 0.4 - 2,785 2 0.3 0.2 - 1,633 1 1.2 0.9 - 6,751 6 Community Town Center 0.35 1,100 75% 2.2 1.6 - 24,956 23 1.9 1.4 - 21,354 19 0.0 0.0 - 0 0 2.0 1.5 - 23,155 21 6.1 4.6 - 69,465 63 Regional Town Center 0.49 300 75% 0.0 0.0 - 0 0 0.0 0.0 - 0 0 5.8 4.4 - 93,168 311 0.0 0.0 - 0 0 5.8 4.4 - 93,168 311 Institutional 0.35 400 75% 9.0 6.8 - 102,911 257 7.0 5.2 - 79,584 199 0.0 0.0 - 0 0 0.0 0.0 - 0 0 16.0 12.0 - 182,495 456 Subtotal - 11.4 8.5 0 129,033 281 9.0 6.8 0 102,104 219 6.3 4.7 0 95,954 313 2.3 1.7 0 24,788 22 29.1 21.8 0 351,878 836 Total Civic 217.4 163.0 - 2,021,238 4,218 159.9 119.9 - 1,544,825 3,300 152.0 114.0 - 1,137,993 1,878 134.5 100.9 - 764,778 693 663.7 497.8 - 5,468,833 10,088 Other Public/Quasi-Public
Parks - - - 96.9 96.9 - - - 103.0 103.0 - - - 185.1 185.1 - - - 51.1 51.1 - - - 436.0 436.0 - - - Flood Control Basin - - - 266.0 266.0 - - - 0.0 0.0 - - - 0.0 0.0 - - - 0.0 0.0 - - - 266.0 266.0 - - - Right-of-Way 121.0 121.0 - 97.0 97.0 - - - 157.0 157.0 - 139.0 139.0 - 514.0 514.0 - Total Public/Quasi-Public - - - 701.3 646.9 - 2,021,238 4,218 359.9 319.9 - 1,544,825 3,300 494.0 456.0 - 1,137,993 1,878 324.6 291.0 - 764,778 693 1,879.7 1,713.8 - 5,468, 833 10,088 Total 2,132.0 1,589.0 10,787 3,001,054 6,042 1,621.0 1,242.2 6,362 5,570,844 12,398 2,619.0 1,882.7 18,920 6,578,258 15,737 2,428.0 1,657.7 6,420 1,528,234 1,963 8,800.0 6,371.7 42,489 16,678,389 36,140 Source: City of Fresno
[1] Density, net to gross factor, square feet per employee, and gross acres distribution assumptions from Excel workbook provided by City of Fresno: "SEDA_Buildout_Assumptions_COF_Final.xlsx". Received from City on May 16, 2023.

Total gross acres by phase from Word document provided by City of Fresno: "SEDA Phasing Plan Land Use Quantities.docx". Received from City on May 16, 2023.

Net developable acres, dwelling units, and building square feet calculated using data referenced above. [2] Includes Civic Commercial acres and square feet.

Prepared by EPS 4/16/2025 Z:\Shared\Projects\SAC\242000\242056 Fresno SEDA PFFP\Models\242056 PFFP 2025 4.15.25.xlsx A-5
Table A-5
Fresno SEDA Financing Options
Estimated Future Development by School District [1]
Item
Dwelling
Units
Building
Square Feet
Dwelling
Units
Building
Square Feet
Dwelling
Units
Building
Square Feet
Clovis
USD
Sanger
USD
Dwelling
Units
Building
Square Feet
Dwelling
Units
Building
Square Feet
Dwelling
Units
Building
Square Feet
Dwelling
Units
Building
Square Feet
Dwelling
Units
Building
Square Feet
Single Famil
y
Rural Cluster 20 - - - 38 - 75% 25% 37 - 28 - 9 - 48 - 47 - Neighborhood Residential 4,673 - 1,810 - 4,603 - 75% 25% 1,366 - 1,024 - 342 - 5,697 - 6,754 - Neighborhood Town Center 297 - 297 - 709 - 50% 50% 416 - 208 - 208 - 505 - 1,213 - Mixed Residential 1,213 - 1,103 - 3,744 - 20% 80% 1,005 - 201 - 804 - 1,414 - 5,651 - Subtotal 6,202 - 3,209 - 9,093 - 2,823 - 1,461 - 1,362 - 7,663 - 13,664 - Multifamily
Neighborhood Residential 1,558 - 603 - 1,534 - 75% 25% 455 - 341 - 114 - 1,899 - 2,252 - Neighborhood Town Center 297 - 297 - 709 - 50% 50% 416 - 208 - 208 - 505 - 1,213 - Mixed Residential 1,213 - 1,103 - 3,744 - 20% 80% 1,005 - 201 - 804 - 1,414 - 5,651 - Community Town Center 1,345 - 1,151 - - - 50% 50% 1,248 - 624 - 624 - 1,969 - 1,775 - Regional Town Center - - - - 3,835 - N/A N/A - - - - - - - - 3,835 - Subtotal 4,412 - 3,153 - 9,822 - 3,124 - 1,374 - 1,750 - 5,786 - 14,725 - Commercial Retail
Neighborhood Residential - 32,631 - 12,639 - 32,145 75% 25% - 9,540 - 7,155 - 2,385 - 39,786 - 47,170 Neighborhood Town Center - 27,117 - 27,117 - 64,762 50% 50% - 37,964 - 18,982 - 18,982 - 46,099 - 110,860 Mixed Residential - 51,044 - 46,377 - 157,506 20% 80% - 42,293 - 8,459 - 33,834 - 59,503 - 237,717 Community Town Center - 464,178 - 397,183 - - 50% 50% - 430,680 - 215,340 - 215,340 - 679,518 - 612,524 Regional Town Center - - - - - 1,601,413 N/A N/A - - - - - - - - - 1,601,413 Flexible R&D - - - 350,264 - 210,418 N/A N/A - - - - - - - - - 560,682 Office Center - - - 31,112 - 43,266 N/A N/A - - - - - - - - - 74,378 Institutional - 156,663 - 121,153 - - N/A N/A - - - - - - - 156,663 - 121,153 Subtotal - 731,633 - 985,845 - 2,109,510 - 520,478 - 249,936 - 270,542 - 981,569 - 3,365,897 Commercial Office
Neighborhood Town Center - 26,909 0 26,909 0 64,264 50% 50% - 37,672 - 18,836 - 18,836 - 45,745 - 110,009 Community Town Center - 221,275 0 189,338 0 0 50% 50% - 205,306 - 102,653 - 102,653 - 323,928 - 291,992 Regional Town Center - 0 0 0 0 1,261,266 N/A N/A - - - - - - - - - 1,261,266 Flexible R&D - 0 0 608,254 0 365,404 N/A N/A - - - - - - - - - 973,658 Office Center - 0 0 390,911 0 543,611 N/A N/A - - - - - - - - - 934,521 Subtotal - 248,183 - 1,215,412 - 2,234,544 - 242,979 - 121,489 - 121,490 - 369,672 - 3,571,446 Light Industrial - - - 1,824,762 - 1,096,211 N/A N/A - - - - - - - - - 2,920,973 Total Future Development 10,614 979,816 6,362 4,026,019 18,915 5,440,265 5,947 763,456 2,835 371,425 3,112 392,031 13,449 1,351,241 28,389 9,85 8,315 Source: City of Fresno; EPS.
[1] See Table A-3 for estimated development by phase.

Buildout
Clovis USD Sanger USDSanger USD
Phase 3
Estimated Distribution Total Clovis USDClovis (1N)
Phase 1
Sanger (1S) Sanger
Phase 2
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Table A-6
Fresno Park Development Impact Fee Program Update
Estimated Persons per Household - City of Fresno
Item Formula
Value
2019-2023 US Census American Community Survey Data for City of Fresno [1] Occupied Housing Units
Single Family (attached and detached) A 117,952
Multifamily B 57,345
Total 175,297
Population in Occupied Housing Units
Single Family (attached and detached) C 390,989
Multifamily D 131,443
Total 522,432
Single Family Persons per Household C/A 3.31
Multifamily Persons per Household D/B 2.29
Source: US Census American Community Survey 2019-2023 Tables B25032 and B25033; EPS. [1] Excludes mobile homes and boats, RVs, vans, etc.

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APPENDIX B:

Supporting Calculations for
Facilities Cost Estimates

Table B-1 Estimated Domestic Water
Facilities Cost (3 pages) ................................. B-1 Table B-2 Estimated Recycled Water
System Facilities Cost .................................... B-4 Table B-3 Estimated Sewer System
Facilities Cost (3 pages) ................................. B-5 Table B-4 Estimated Storm Drainage
System Facilities Cost .................................... B-8 Table B-5 Estimated Transportation
Improvement Cost (2 pages) .......................... B-9 Table B-6 Estimated Park Facilities Cost ......................... B-11 Table B-7 Estimated Transit System Costs ..................... B-12 Table B-8 Estimated Community and
Neighborhood Center Cost ............................. B-13 Table B-9 Estimated Community and
Neighborhood Center Existing Facilities ........... B-14 Table B-10 Construction Cost Inflation Factors ................. B-15

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Table B-1
Fresno SEDA Financing Options
Estimated Domestic Water Facilities Cost (2025$)
Item Description Pct. Quantity Total Cost Quantity Total Cost Quantity Total Cost 1 New Groundwater Well $1,906,000.00 EA - $0 7 $13,342,000 7 $13,342,000 2/3 Wellhead treatment, GAC $3,034,000.00 EA - $0 2 $6,068,000 2 $6,068,000 4 48" RTM Water Main $1,980.00 per LF 2,640 $5,228,000 - $0 2,640 $5,228,000 5 42" RTM Water Main $1,567.00 per LF 2,640 $4,137,000 - $0 2,640 $4,137,000 6 36" RTM Water Main $1,416.69 per LF - $0 - $0 - $0
7 30" RTM Water Main $1,260.00 per gal - $0 - $0 - $0
8 24" RTM Water Main $1,128.00 per LF 35,120 $39,616,000 - $0 35,120 $39,616,000 9 16" TGM Water Main $366.15 per LF - $0 - $0 - $0
10/11 3 MG Storage Tank 1 and Booster Pump Sattion $12,241,000 EA 1 $12,241,000 - $0 1 $12,241,000 12/13 3 MG Storage Tank 2 and Booster Pump Sattion $12,241,000 EA - $0 - $0 - $0 14/15 3 MG Storage Tank 3 and Booster Pump Sattion $12,241,000 EA - $0 - $0 - $0 16 NESWTF Expansion [1] $7,200,000 $7,331,000 per MGD - $0 - $0 - $0 17 Booster Pump Station at PS347 $2,498,900 EA 1 $2,499,000 - $0 1 $2,499,000 18 Booster Pump Station at Olive RTM $2,498,901 EA 1 $2,499,000 - $0 1 $2,499,000 19 Recharge Interties to FMFCD Basins [1] $52,500 $53,500 EA - $0 - $0 - $0 Subtotal $66,220,000 $19,410,000 $85,630,000
Contingency (30%) 30% $19,866,000 $5,823,000 $25,689,000 Subtotal Hard Cost $86,086,000 $25,233,000 $111,319,000 Soft Cost 20% $17,218,000 $5,047,000 $22,265,000
Total (Rounded) $103,304,000 $30,280,000 $133,584,000
Source: City of Fresno; Blair, Church, & Flynn; EPS.
[1] 2023 unit costs for improvements 16 and 19 provided by Blair, Church, & Flynn; calculated as costs included in City of Fresno Metropolitan Plan, Phase 2 (2011) multiplied by the ratio between the 20-Cities ENR CCI for September 2023 and January 2011. [2] The unit costs in 2023 dollars for improvements 16 and 19 adjusted by percentage increase in CCI from September 2023 to January 2025 (1.82%). All other unit costs provided by City DPU in March 2025.

Phase 1N Phase 1S
Predevelopment
Total
Unit Cost
2025$
(Rounded) [2]
2023$
[1]
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Table B-1
Fresno SEDA Financing Options
Estimated Domestic Water Facilities Cost (2025$)
Item Description Pct.
1 New Groundwater Well $1,906,000.00 EA
2/3 Wellhead treatment, GAC $3,034,000.00 EA
4 48" RTM Water Main $1,980.00 per LF
5 42" RTM Water Main $1,567.00 per LF
6 36" RTM Water Main $1,416.69 per LF
7 30" RTM Water Main $1,260.00 per gal
8 24" RTM Water Main $1,128.00 per LF
9 16" TGM Water Main $366.15 per LF
10/11 3 MG Storage Tank 1 and Booster Pump Sattion $12,241,000 EA 12/13 3 MG Storage Tank 2 and Booster Pump Sattion $12,241,000 EA 14/15 3 MG Storage Tank 3 and Booster Pump Sattion $12,241,000 EA 16 NESWTF Expansion [1] $7,200,000 $7,331,000 per MGD
17 Booster Pump Station at PS347 $2,498,900 EA
18 Booster Pump Station at Olive RTM $2,498,901 EA
19 Recharge Interties to FMFCD Basins [1] $52,500 $53,500 EA Subtotal
Contingency (30%) 30%
Subtotal Hard Cost
Soft Cost 20%
Total (Rounded)
Source: City of Fresno; Blair, Church, & Flynn; EPS.
[1] 2023 unit costs for improvements 16 and 19 provided by Blair, Church, & Flynn; calculated as costs included in City of Fresno Metropolitan Plan, Phase 2 (2011) multiplied by the ratio between the 20-Cities ENR CCI for September 2023 and January 2011. [2] The unit costs in 2023 dollars for improvements 16 and 19 adjusted by percentage increase in CCI from September 2023 to January 2025 (1.82%). All other unit costs provided by City DPU in March 2025.

Unit Cost
2025$
(Rounded) [2]
2023$
[1]
Quantity Total Cost Quantity Total Cost Quantity Total Cost - $0 - $0 - $0
- $0 - $0 - $0
7,960 $15,761,000 - $0 7,960 $15,761,000
21,360 $33,472,000 - $0 21,360 $33,472,000
21,200 $30,034,000 - $0 21,200 $30,034,000
8,100 $10,206,000 - $0 8,100 $10,206,000
- $0 - $0 - $0
55,000 $20,139,000 59,000 $21,603,000 114,000 $41,742,000 - $0 - $0 - $0
1 $12,241,000 - $0 1 $12,241,000
1 $12,241,000 - $0 1 $12,241,000
15 $109,965,000 - $0 15 $109,965,000
- $0 - $0 - $0
- $0 - $0 - $0
1 $53,500 2 $107,000 3 $160,500
$244,112,500 $21,710,000 $265,822,500
$73,234,000 $6,513,000 $79,747,000
$317,346,500 $28,223,000 $345,569,500
$63,470,000 $5,645,000 $69,115,000
$380,817,000 $33,868,000 $414,685,000
Phase 1N Phase 1S Total
Phase 1
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Unit Cost
2025$
(Rounded) [2]
2023$
[1]
Quantity Total Cost Quantity Total Cost
23 $43,838,000 30 $57,180,000
5 $15,170,000 7 $21,238,000
- $0 10,600 $20,989,000
- $0 24,000 $37,609,000
- $0 21,200 $30,034,000
- $0 8,100 $10,206,000
- $0 35,120 $39,616,000
142,000 $51,994,000 256,000 $93,736,000
- $0 1 $12,241,000
- $0 1 $12,241,000
- $0 1 $12,241,000
- $0 15 $109,965,000
- $0 1 $2,499,000
- $0 1 $2,499,000
4 $214,000 7 $374,500
$111,216,000 $462,668,500
$33,365,000 $138,801,000
$144,581,000 $601,469,500
$28,917,000 $120,297,000
$173,498,000 $721,766,500
BuildoutPhases 2 and 3
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Table B-2
Fresno SEDA Financing Options
Estimated Recycled Water System Facilities Cost (2025$) Item Description Pct. Quantity Total Cost Quantity Total Cost Quantity Total Cost Quantity Total Cost Quantity Total Cost 1 Southeast Recycled Water Quadrant -
Treatment Improvements (Alt 1) $12,867,495 EA - - - - - - 1 $12,868,000 1 $12,868,000 2 Tank and Booster Pump Station $12,241,000 EA 3 $36,723,000 - - 3 $36,723,000 - - 3 $36,723,000 3 24-inch Recycled Water Transmission Main $1,128 per LF 47,500 $53,580,000 - - 47,500 $53,580,000 - - 47,500 $53,580,000 4 16-inch Recycled Water Main $366 per LF 13,100 $4,797,000 8,000 $2,930,000 21,100 $7,727,000 31,600 $11,571,000 52,700 $19,298,000 Subtotal $95,100,000 $2,930,000 $98,030,000 $24,439,000 $122,469,000 Contingency 30% $28,530,000 $879,000 $29,409,000 $7,331,700 $36,740,700 Subtotal Hard Cost $123,630,000 $3,809,000 $127,439,000 $31,770,700 $159,209,700 Soft Cost 20% $24,726,000 $762,000 $25,488,000 $6,355,000 $31,843,000 Total $148,356,000 $4,571,000 $152,927,000 $38,125,700 $191,052,700 Total (Rounded) $148,356,000 $4,571,000 $152,927,000 $38,126,000 $191,053,000 Source: City of Fresno; Blair, Church, & Flynn; EPS.
[1] Unit costs in 2023 dollars provided by Blair, Church, & Flynn. Unit costs updated to 2025 dollars by City of Fresno in March 2025. 2025$
(Rounded) [2]
Phase 1 Buildout
Phase 1N Phase 1S Total
Phase 2 and 3
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Fresno SEDA Financing Options
Estimated Sewer System Facilities Cost (2025$)
Item Description Pct. Quantity Total Cost Quantity Total Cost Quantity Total Cost 1 Project D-1 (48" Gravity Sewer) $1,301.09 per LF - - 5,875 $7,644,000 5,875 $7,644,000 2 Project D-2 (42" Gravity Sewer) $1,235.37 per LF 13,352 $16,495,000 - - 13,352 $16,495,000 3 Project D-3 (36" Gravity Sewer) $1,111.00 per LF 4,987 $5,541,000 - - 4,987 $5,541,000 4 Project D-4 (30" Gravity Sewer) $986.63 per LF 13,300 $13,123,000 - - 13,300 $13,123,000 5 Project D-5 (27" Gravity Sewer) $913.47 per LF 4,575 $4,180,000 - - 4,575 $4,180,000 6 Project D-6A (15" Gravity Sewer) $610.18 per LF - - - - - - 7 Project D-6B (12" Gravity Sewer) $537.02 per LF - - - - - - 8 Project D-7A (15" Gravity Sewer) $610.18 per LF - - - - - - 9 Project D-7B (12" Gravity Sewer) $537.02 per LF - - - - - - 10 Project D-7C (8" Gravity Sewer) $449.22 per LF - - - - - - 11 Project D-8A (18" Gravity Sewer) $666.71 per LF - - - - - - 12 Project D-8B (15" Gravity Sewer) $610.18 per LF - - - - - - 13 Project D-8C (10" Gravity Sewer) $493.12 per LF - - - - - - 14 Project D-9A (18" Gravity Sewer) $666.71 per LF - - - - - - 15 Project D-9B (15" Gravity Sewer) $610.18 per LF - - - - - - 16 Project D-9C (8" Gravity Sewer) $449.22 per LF - - - - - - 17 Project D-10A (21" Gravity Sewer) $723.25 per LF - - - - - - 18 Project D-10B (15" Gravity Sewer) $610.18 per LF - - - - - - 19 Project D-10C (8" Gravity Sewer) $449.22 per LF - - - - - - 20 Project D-10D (12" Gravity Sewer) $537.02 per LF - - - - - - 21 Project D-10E (10" Gravity Sewer) $493.12 per LF - - - - - - 22 Project D-11A (15" Gravity Sewer) $610.18 per LF - - - - - - 23 Project D-11B (12" Gravity Sewer) $537.02 per LF - - - - - - 24 Project D-11C (8" Gravity Sewer) $449.22 per LF - - - - - - 25 Project D-12A (21" Gravity Sewer) $723.25 per LF 2,729 $1,974,000 - - 2,729 $1,974,000 26 Project D-12B (18" Gravity Sewer) $666.71 per LF - - - - - - 27 Project D-12C (15" Gravity Sewer) $610.18 per LF - - - - - - 28 Project D-13 (10" Gravity Sewer) $493.12 per LF - - - - - - 29/30 Project D-14 (60" Gravity Sewer) $1,301.09 per LF - - 15,965 $20,772,000 15,965 $20,772,000 31 Project D-15 (12" Gravity Sewer) $537.02 per LF - - 2,730 $1,467,000 2,730 $1,467,000 32 Project D-16 (15" Gravity Sewer) $610.18 per LF - - 2,611 $1,594,000 2,611 $1,594,000 33 Project D-17 (10" Gravity Sewer) $493.12 per LF - - 2,789 $1,376,000 2,789 $1,376,000 34 Project D-18 (8" Gravity Sewer) $449.22 per LF - - 2,671 $1,200,000 2,671 $1,200,000 35 RWRF 18 MGD C Side Expansion 87,747,510$ EA - - - - - - 36 RWRF Digester 14 19,488,619 $ EA - - - - - -
Subtotal $41,313,000 $34,053,000 $75,366,000
Contingency 30% $12,394,000 $10,216,000 $22,610,000
Subtotal Hard Cost $53,707,000 $44,269,000 $97,976,000
Soft Cost 20% $10,742,000 $8,854,000 $19,596,000
Total (Rounded) $64,449,000 $53,123,000 $117,572,000
Source: City of Fresno; Blair, Church, & Flynn; EPS.
[1] Unit costs in 2023 dollars provided by Blair, Church, & Flynn. Unit costs updated to 2025 dollars by City of Fresno in March 2025. [2] Projects D-1 and D-14 are needed before any development occurs.

As it is assumed that Phase 1S will develop first, the projects are shown in Predevelopment Phase 1S, but in the event that Phase 1N develops first, they will be constructed in Predevelopment Phase 1N. 2025$
(Rounded) [1]
Phase 1N Phase 1S [2] Total
Predevelopment
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Fresno SEDA Financing Options
Estimated Sewer System Facilities Cost (2025$)
Item Description Pct.
1 Project D-1 (48" Gravity Sewer) $1,301.09 per LF
2 Project D-2 (42" Gravity Sewer) $1,235.37 per LF
3 Project D-3 (36" Gravity Sewer) $1,111.00 per LF
4 Project D-4 (30" Gravity Sewer) $986.63 per LF
5 Project D-5 (27" Gravity Sewer) $913.47 per LF
6 Project D-6A (15" Gravity Sewer) $610.18 per LF
7 Project D-6B (12" Gravity Sewer) $537.02 per LF
8 Project D-7A (15" Gravity Sewer) $610.18 per LF
9 Project D-7B (12" Gravity Sewer) $537.02 per LF
10 Project D-7C (8" Gravity Sewer) $449.22 per LF
11 Project D-8A (18" Gravity Sewer) $666.71 per LF
12 Project D-8B (15" Gravity Sewer) $610.18 per LF
13 Project D-8C (10" Gravity Sewer) $493.12 per LF
14 Project D-9A (18" Gravity Sewer) $666.71 per LF
15 Project D-9B (15" Gravity Sewer) $610.18 per LF
16 Project D-9C (8" Gravity Sewer) $449.22 per LF
17 Project D-10A (21" Gravity Sewer) $723.25 per LF
18 Project D-10B (15" Gravity Sewer) $610.18 per LF
19 Project D-10C (8" Gravity Sewer) $449.22 per LF
20 Project D-10D (12" Gravity Sewer) $537.02 per LF
21 Project D-10E (10" Gravity Sewer) $493.12 per LF
22 Project D-11A (15" Gravity Sewer) $610.18 per LF
23 Project D-11B (12" Gravity Sewer) $537.02 per LF
24 Project D-11C (8" Gravity Sewer) $449.22 per LF
25 Project D-12A (21" Gravity Sewer) $723.25 per LF
26 Project D-12B (18" Gravity Sewer) $666.71 per LF
27 Project D-12C (15" Gravity Sewer) $610.18 per LF
28 Project D-13 (10" Gravity Sewer) $493.12 per LF
29/30 Project D-14 (60" Gravity Sewer) $1,301.09 per LF 31 Project D-15 (12" Gravity Sewer) $537.02 per LF
32 Project D-16 (15" Gravity Sewer) $610.18 per LF
33 Project D-17 (10" Gravity Sewer) $493.12 per LF
34 Project D-18 (8" Gravity Sewer) $449.22 per LF
35 RWRF 18 MGD C Side Expansion 87,747,510$ EA
36 RWRF Digester 14 19,488,619 $ EA
Subtotal
Contingency 30%
Subtotal Hard Cost
Soft Cost 20%
Total (Rounded)
Source: City of Fresno; Blair, Church, & Flynn; EPS.
[1] Unit costs in 2023 dollars provided by Blair, Church, & Flynn. Unit costs updated to 2025 dollars by City of Fresno in March 2025. [2] Projects D-1 and D-14 are needed before any development occurs.

Page 3 of 3 ends

As it is assumed that Phase 1S will develop first, the projects are shown in Predevelopment Phase 1S, but in the event that Phase 1N develops first, they will be constructed in Predevelopment Phase 1N. 2025$
(Rounded) [1]
Quantity Total Cost Quantity Total Cost
- - 5,875 $7,644,000
- - 13,352 $16,495,000
- - 4,987 $5,541,000
- - 13,300 $13,123,000
- - 4,575 $4,180,000
5,228 $3,191,000 5,228 $3,191,000
2,732 $1,468,000 2,732 $1,468,000
2,552 $1,558,000 2,552 $1,558,000
2,729 $1,466,000 2,729 $1,466,000
2,673 $1,201,000 2,673 $1,201,000
2,676 $1,785,000 2,676 $1,785,000
2,670 $1,630,000 2,670 $1,630,000
2,617 $1,291,000 2,617 $1,291,000
2,617 $1,745,000 2,617 $1,745,000
2,611 $1,594,000 2,611 $1,594,000
2,789 $1,253,000 2,789 $1,253,000
2,730 $1,975,000 2,730 $1,975,000
4,035 $2,463,000 4,035 $2,463,000
2,729 $1,226,000 2,729 $1,226,000
4,926 $2,646,000 4,926 $2,646,000
2,554 $1,260,000 2,554 $1,260,000
2,671 $1,630,000 2,671 $1,630,000
2,613 $1,404,000 2,613 $1,404,000
2,617 $1,176,000 2,617 $1,176,000
- - 2,729 $1,974,000
- - 5,103 $3,403,000
- - 2,730 $1,666,000
- - 2,492 $1,229,000
- - 15,965 $20,772,000
- - 2,730 $1,467,000
- - 2,611 $1,594,000
- - 2,789 $1,376,000
- - 2,671 $1,200,000
- - 1 $87,748,000
- - 1 $19,489,000
$31,962,000 $220,863,000
$9,589,000 $66,260,000
$41,551,000 $287,123,000
$8,311,000 $57,427,000
$49,862,000 $344,550,000
BuildoutPhases 2 and 3
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Table B-4
Fresno SEDA Financing Options
Estimated Storm Drainage System Facilities Cost (2025$) Item Description Pct. 2023$ [1]
2025$
(Rounded) [2] Phase 1N Phase 1S Total
Phases
2 and 3 Buildout
CCI Adjustment (2023-2025) [3] 1.82%
Existing Basins
1 Drainage Area BG Basin $4,146,744 $4,222,000 - $4,222,000 $4,222,000 - $4,222,000 2 Drainage Area BG Piping $5,773,979 $5,879,000 - $5,879,000 $5,879,000 - $5,879,000 3 Drainage Area BL Basin $5,067,423 $5,160,000 - - - $5,160,000 $5,160,000 4 Drainage Area BL Piping $9,893,623 $10,074,000 - - - $10,074,000 $10,074,000 5 Drainage Area BM Basin $3,802,860 $3,872,000 - - - $3,872,000 $3,872,000 6 Drainage Area BM Piping $12,303,248 $12,527,000 - - - $12,527,000 $12,527,000 7 Drainage Area BS Basin $5,072,654 $5,165,000 $5,165,000 - $5,165,000 - $5,165,000 8 Drainage Area BS Piping $11,978,752 $12,197,000 $12,197,000 - $12,197,000 - $12,197,000 9 Drainage Area CS Basin $2,729,972 $2,780,000 - $2,780,000 $2,780,000 - $2,780,000 10 Drainage Area CS Piping $10,410,547 $10,600,000 - $10,600,000 $10,600,000 - $10,600,000 11 Drainage Area DS Basin $12,060,103 $12,280,000 $12,280,000 - $12,280,000 - $12,280,000 12 Drainage Area DS Piping $22,450,811 $22,859,000 $22,859,000 - $22,859,000 - $22,859,000 13 Drainage Area DV Basin $1,605,954 $1,635,000 - - - $1,635,000 $1,635,000 14 Drainage Area DV Piping $8,541,635 $8,697,000 - - - $8,697,000 $8,697,000 Proposed Basins
15 Drainage Area DT Basin $5,381,568 $5,480,000 - - - $5,480,000 $5,480,000 16 Drainage Area DT Piping $12,457,920 $12,685,000 - - - $12,685,000 $12,685,000 17 Drainage Area DU Basin $6,422,876 $6,540,000 - - - $6,540,000 $6,540,000 18 Drainage Area DU Piping $19,614,304 $19,971,000 - - - $19,971,000 $19,971,000 19 Drainage Area DW Basin $6,416,433 $6,533,000 - - - $6,533,000 $6,533,000 20 Drainage Area DW Piping $9,992,519 $10,174,000 - - - $10,174,000 $10,174,000 21 Drainage Area DX Basin $6,938,577 $7,065,000 - - - $7,065,000 $7,065,000 22 Drainage Area DX Piping $13,549,331 $13,796,000 - - - $13,796,000 $13,796,000 23 Drainage Area DY Basin $5,767,495 $5,872,000 - $5,872,000 $5,872,000 - $5,872,000 24 Drainage Area DY Piping $12,121,213 $12,342,000 - $12,342,000 $12,342,000 - $12,342,000 25 Drainage Area DZ Basin $5,177,360 $5,272,000 - $5,272,000 $5,272,000 - $5,272,000 26 Drainage Area DZ Piping $10,001,331 $10,183,000 - $10,183,000 $10,183,000 - $10,183,000 Subtotal $229,679,232 $233,860,000 $52,501,000 $57,150,000 $109,651,000 $124,209,000 $233,860,000 Contingency 20% $45,935,846 $46,772,000 $10,500,200 $11,430,000 $21,930,200 $24,841,800 $46,772,000 Total $275,615,079 $280,632,000 $63,001,200 $68,580,000 $131,581,200 $149,050,800 $280,632,000 Total (Rounded) $275,615,000 $280,632,000 $63,001,000 $68,580,000 $131,581,000 $149,051,000 $280,632,000 Source: City of Fresno; Blair, Church, & Flynn; EPS.
[1] Unit costs provided by Blair, Church, & Flynn; calculat ed as costs provided by Fresno Metropolitan Flood Control District staff on 8/26/22 multiplied by the ratio between the 20-Cities ENR CCI for September 2023 and August 2022. [2] Unit costs in 2023 dollars adjusted by percentage increase in CCI from September 2023 to January 2025. [3] See Table B-10.

Phase 1Unit Cost
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Fresno SEDA Financing Options
Estimated Transportation Improvement Cost (2025$)
Pavement Curb & Gutter Sidewalk (6') Street Lights Soundwalls Landscaping (20') Traffic
Signals
Bridge and
Overcrossing
Expand
Temperance
to 4 Lanes [1]
Railroad
Overcrossing
[2]
Total
Construction
Total ROW
Acquisition
& Construction
Street From To Length Width Sq. Ft. Cost
both sides of road every 150 ft. both sides of road both sides of road Unit Cost (2025$) $6.00 $720 $30 $144 $15,000 $200 $220 $1,500,000 per sq. ft. per lf per lf per lf per light per lf per lf per signal Predevelopment - Phase 1N
Temperance Avenue: Improve to 4 Lanes from SR 190 to Clinton Avenue - - - - - - - - - $39,285,714 - $39,285,714 $39,285,714 Soft Costs (20%) - - - - - - - - - $7,857,143 - $7,857,143 $7,857,143 Contingencies (20%) - - - - - - - - - $7,857,143 - $7,857,143 $7,857,143 Total with Soft Costs and Contingencies (Rounded) [1] - - - - - - - - - $55,000,000 - $55,000,000 $55,000,000 Predevelopment - Phase 1S
Fowler Lone Star Jensen 2,675 72 192,600 $1,155,600 $1,926,000 $80,250 $385,200 $267,500 $535,000 $588,500 - - - $4,938,050 $6,093,650 Soft Costs (20%) $231,120 $385,200 $16,050 $77,040 $53,500 $107,000 $117,700 - - - $987,610 $1,218,730 Contingencies (20%) $231,120 $385,200 $16,050 $77,040 $53,500 $107,000 $117,700 - - - $987,610 $1,218,730 Total with Soft Costs and Contingencies (Rounded) $1,618,000 $2,696,000 $112,000 $539,000 $375,000 $749,000 $824,000 - - - $6,913,00 0 $8,531,000 Phase 1N
Shields Locan Highland 8,009 72 576,648 $3,459,888 $5,766,480 $240,270 $1,153,296 $800,900 $1,601,800 $1,761,980 $4,500,000 - - - $15,824,726 $19,284,614 McKinley Locan McCall 13,150 72 946,800 $5,680,800 $9,468,000 $394,500 $1,893,600 $1,315,000 $2,630,000 $2,893,000 $4,500,000 $2,500,000 - - $25,594,100 $31,274,900 DeWolf McKinley Clovis City Limits 13,150 72 946,800 $5,680,800 $9,468,000 $394,500 $1,893,600 $1,315,000 $2,630,000 $2,893,000 - $2,500,000 - - $21,094,100 $26,774,900 Leonard McKinley Clovis City Limits 7,334 72 528,048 $3,168,288 $5,280,480 $220,020 $1,056,096 $733,400 $1,466,800 $1,613,480 - - - - $10,370,276 $13,538,564 Highland McKinley Clovis City Limits 6,520 72 469,440 $2,816,640 $4,694,400 $195,600 $938,880 $652,000 $1,304,000 $1,434,400 - - - - $9,219,280 $12,035,920 McCall McKinley Clovis City Limits 5,382 72 387,504 $2,325,024 $3,875,040 $161,460 $775,008 $538,200 $1,076,400 $1,184,040 - $2,500,000 - - $10,110,148 $12,435,172 Phase 1N Total ROW Acquisition and Construction $23,131,440 $38,552,400 $1,606,350 $7,710,480 $5,354,500 $10,709,000 $11,779,900 $9,000 ,000 $7,500,000 - - $92,212,630 $115,344,070 Soft Costs (20%) $4,626,288 $7,710,480 $321,270 $1,542,096 $1,070,900 $2,141,800 $2,355,980 $1,800,000 $1,500,000 - - $18,442,526 $23,06 8,814 Contingencies (20%) $4,626,288 $7,710,480 $321,270 $1,542,096 $1,070,900 $2,141,800 $2,355,980 $1,800,000 $1,500,000 - - $18,442,526 $23 ,068,814 Total with Soft Costs and Contingencies (Rounded) $32,384,000 $53,973,000 $2,249,000 $10,795,000 $7,496,000 $14,993,000 $16,492,000 $12 ,600,000 $10,500,000 - - $129,098,000 $161,482,000 Phase 1S
North Minnewawa Temperance 13,250 72 954,000 $5,724,000 $9,540,000 $397,500 $1,908,000 $1,325,000 $2,650,000 $2,915,000 $9,000,000 $2,500,000 - - $30,235,500 $35,959,500 Minnewawa North Jensen 5,350 72 385,200 $2,311,200 $3,852,000 $160,500 $770,400 $535,000 $1,070,000 $1,177,000 - - - - $7,564,900 $9,876,100 Clovis North Jensen 5,350 100 535,000 $3,210,000 $5,778,000 $160,500 $770,400 $535,000 $1,070,000 $1,177,000 - - - - $9,490,900 $12,700,900 Fowler North Lone Star 2,675 72 192,600 $1,155,600 $1,926,000 $80,250 $385,200 $267,500 $535,000 $588,500 - - - - $3,782,450 $4,938,050 Armstrong North Jensen 5,350 72 385,200 $2,311,200 $3,852,000 $160,500 $770,400 $535,000 $1,070,000 $1,177,000 - - - - $7,564,900 $9,876,100 Temperance North Jensen 5,350 72 385,200 $2,311,200 $3,852,000 $160,500 $770,400 $535,000 $1,070,000 $1,177,000 - $2,500,000 - - $10,064,900 $12,376,100 Phase 1S Total ROW Acquisition and Construction $17,023,200 $28,800,000 $1,119,750 $5,374,800 $3,732,500 $7,465,000 $8,211,500 $9,000,0 00 $5,000,000 - - $68,703,550 $85,726,750 Soft Costs (20%) $3,404,640 $5,760,000 $223,950 $1,074,960 $746,500 $1,493,000 $1,642,300 $1,800,000 $1,000,000 - - $13,740,710 $17,145, 350 Contingencies (20%) $3,404,640 $5,760,000 $223,950 $1,074,960 $746,500 $1,493,000 $1,642,300 $1,800,000 $1,000,000 - - $13,740,710 $17,1 45,350 Total with Soft Costs and Contingencies (Rounded) $23,832,000 $40,320,000 $1,568,000 $7,525,000 $5,226,000 $10,451,000 $11,496,000 $12, 600,000 $7,000,000 - - $96,185,000 $120,017,000 ROW Acquisition
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Fresno SEDA Financing Options
Estimated Transportation Improvement Cost (2025$)
Pavement Curb & Gutter Sidewalk (6') Street Lights Soundwalls Landscaping (20') Traffic
Signals
Bridge and
Overcrossing
Expand
Temperance
to 4 Lanes [1]
Railroad
Overcrossing
[2]
Total
Construction
Total ROW
Acquisition
& Construction
Street From To Length Width Sq. Ft. Cost
both sides of road every 150 ft. both sides of road both sides of road Unit Cost (2025$) $6.00 $720 $30 $144 $15,000 $200 $220 $1,500,000 per sq. ft. per lf per lf per lf per light per lf per lf per signal ROW Acquisition
Phase 2
Kings Canyon Temperance DeWolf 5,274 72 379,728 $2,278,368 $3,797,280 $158,220 $759,456 $527,400 $1,054,800 $1,160,280 $3,000,000 - - - $10,457,436 $12,735,804 Butler Temperance DeWolf 5,320 72 383,040 $2,298,240 $3,830,400 $159,600 $766,080 $532,000 $1,064,000 $1,170,400 $3,000,000 $2,500,000 - - $13,022,480 $15,320,720 California Temperance Fancher 9,417 72 678,024 $4,068,144 $6,780,240 $282,510 $1,356,048 $941,700 $1,883,400 $2,071,740 $4,500,000 $2,500,000 - - $20,315,638 $24,383,782 Church Temperance Fancher 9,417 72 678,024 $4,068,144 $6,780,240 $282,510 $1,356,048 $941,700 $1,883,400 $2,071,740 $4,500,000 - - - $17,815,638 $21,883,782 Jensen Temperance Highland 7,928 100 792,800 $4,756,800 $8,562,240 $237,840 $1,141,632 $792,800 $1,585,600 $1,744,160 $4,500,000 - - - $18,564,272 $23,321,072 Locan Church SR 180 7,927 72 570,744 $3,424,464 $5,707,440 $237,810 $1,141,488 $792,700 $1,585,400 $1,743,940 - - - - $11,208,778 $14,633,242 DeWolf Jensen SR 180 10,695 72 770,040 $4,620,240 $7,700,400 $320,850 $1,540,080 $1,069,500 $2,139,000 $2,352,900 - - - - $15,122,730 $19,742,970 Leonard Jensen SR 180 10,695 72 770,040 $4,620,240 $7,700,400 $320,850 $1,540,080 $1,069,500 $2,139,000 $2,352,900 - - - - $15,122,730 $19,742,970 Fancher Jensen SR 180 10,695 72 770,040 $4,620,240 $7,700,400 $320,850 $1,540,080 $1,069,500 $2,139,000 $2,352,900 - - - - $15,122,730 $19,742,970 Highland Jensen SR 180 10,695 72 770,040 $4,620,240 $7,700,400 $320,850 $1,540,080 $1,069,500 $2,139,000 $2,352,900 - - - - $15,122,730 $19,742,970 Temperance Avenue Overcrossing [2] - - - - - - - - - - - - - $50,000,000 $50,000,000 $50,000,000 Locan At-Grade Railroad Overcrossing [2] - - - - - - - - - - - - - $714,286 $714,286 $714,286 DeWolf At-Grade Railroad Overcrossing [2] - - - - - - - - - - - - - $714,286 $714,286 $714,286 Leonard At-Grade Railroad Overcrossing [2] - - - - - - - - - - - - - $714,286 $714,286 $714,286 Highland At-Grade Railroad Overcrossing [2] - - - - - - - - - - - - - $714,286 $714,286 $714,286 Total $39,375,120 $66,259,440 $2,641,890 $12,681,072 $8,806,300 $17,612,600 $19,373,860 $19,500,000 $5,000,000 - $52,857,143 $204,732,305 $244, 107,425 Phase 3
Olive Temperance Fancher 9,253 72 666,216 $3,997,296 $6,662,160 $277,590 $1,332,432 $925,300 $1,850,600 $2,035,660 $3,000,000 $6,000,000 - - $22,083,742 $26,081,038 Belmont Temperance Highland 9,253 92 851,276 $5,107,656 $6,662,160 $277,590 $1,332,432 $925,300 $1,850,600 $2,035,660 $6,000,000 $2,500,000 - - $21,583,742 $26,691,398 Tulare Temperance Fancher 9,253 72 666,216 $3,997,296 $6,662,160 $277,590 $1,332,432 $925,300 $1,850,600 $2,035,660 $4,500,000 - - - $17,583,742 $21,581,038 Locan SR 180 Belmont 4,738 72 341,136 $2,046,816 $3,411,360 $142,140 $682,272 $473,800 $947,600 $1,042,360 - - - - $6,699,532 $8,746,348 DeWolf SR 180 McKinley 9,952 72 716,544 $4,299,264 $7,165,440 $298,560 $1,433,088 $995,200 $1,990,400 $2,189,440 - - - - $14,072,128 $18,371,392 Fancher SR 180 McKinley 9,952 72 716,544 $4,299,264 $7,165,440 $298,560 $1,433,088 $995,200 $1,990,400 $2,189,440 - $6,000,000 - - $20,072,128 $24,371,392 Highland SR 180 McKinley 9,952 72 716,544 $4,299,264 $7,165,440 $298,560 $1,433,088 $995,200 $1,990,400 $2,189,440 - - - - $14,072,128 $18,371,392 Total $28,046,856 $44,894,160 $1,870,590 $8,978,832 $6,235,300 $12,470,600 $13,717,660 $13,500,000 $14,500,000 - - $116,167,142 $144,213,998 Phase 2 and 3 Total ROW Acquisition and Construction $67,421,976 $111,153,600 $4,512,480 $21,659,904 $15,041,600 $30,083,200 $33,091,520 $33,000,000 $19,500,000 - $52,857,143 $320,899,447 $388,321,423 Soft Costs (20%) $13,484,395 $22,230,720 $902,496 $4,331,981 $3,008,320 $6,016,640 $6,618,304 $6,600,000 $3,900,000 - $10,571,429 $64,179 ,889 $77,664,285 Contingencies (20%) $13,484,395 $22,230,720 $902,496 $4,331,981 $3,008,320 $6,016,640 $6,618,304 $6,600,000 $3,900,000 - $10,571,429 $64, 179,889 $77,664,285 Total with Soft Costs and Contingencies (Rounded) $94,391,000 $155, 615,000 $6,317,000 $30,324,000 $21,058,000 $42,116,000 $46,328,000 $ 46,200,000 $27,300,000 - $74,000,000 $449,259,000 $543,650,000 Buildout
Total ROW Acquisition and Construction $108,732,216 $180,432,000 $7,318,830 $35,130,384 $24,396,100 $48,792,200 $53,671,420 $51,000,000 $32,000,000 $39,285,714 $52,857,143 $526,039,391 $634,771,607 Soft Costs (20%) $21,746,443 $36,086,400 $1,463,766 $7,026,077 $4,879,220 $9,758,440 $10,734,284 $10,200,000 $6,400,000 $7,857,143 $10,571 ,429 $105,207,878 $126,954,321 Contingencies (20%) $21,746,443 $36,086,400 $1,463,766 $7,026,077 $4,879,220 $9,758,440 $10,734,284 $10,200,000 $6,400,000 $7,857,143 $10, 571,429 $105,207,878 $126,954,321 Total with Soft Costs and Contingencies (Rounded) $152,225,000 $252,605,000 $10,246,000 $49,183,000 $34,155,000 $68,309,000 $75,140,000 $71,400,000 $44,800,000 $55,000,000 $74,000,000 $736,455,000 $888,680,000 Source: City of Fresno Public Works Department
[1] Total cost estimate provided by City to expand Temperanc e Avenue to 4 lanes ($55 million) includes right-of-way acquisition, construction costs, soft costs and contingencies. contingencies, [2] Total railroad overcrossing costs provided by City include right-of-way acquisition, construction costs, soft costs and co ntingencies. Costs shown on this table are net of 40% for soft costs and contingencies, which are calculated separately on tota l costs across all improvements. City provided costs shown below:

Temperance Avenue Overcrossing
Locan At-Grade Railroad Overcrossing
DeWolf At-Grade Railroad Overcrossing
Leonard At-Grade Railroad Overcrossing
Highland At-Grade Railroad Overcrossing
Total
$1,000,000
$74,000,000
Total Cost
$70,000,000
$1,000,000
$1,000,000
$1,000,000
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Table B-6
Fresno SEDA Financing Options
Estimated Park Facilities Cost (2025$)
Item Acres Total Cost Acres Total Cost Acres Total Cost Acres Total Cost Formula A B C=A*pop./1,000 B*C C=A*pop./1,000 B*C C=A*pop./1,000 B*C Estimated SEDA Population 30,632 17,841 69,088 117,561
Land Acquisition
Acres 5.0 $538,000 153.2 $82,400,080 89.2 $47,992,290 345.4 $185,846,720 587.8 $316,239,090 Development
Neighborhood and Community Parks 2.4 $1,527,300 73.5 $112,282,209 42.8 $65,396,542 165.8 $253,243,446 282.1 $430,922,197 Other Parks
Pocket Parks [2] 0.6 $1,527,300 18.4 $28,070,552 10.7 $16,349,136 41.5 $63,310,861 70.5 $107,730,549 Regional Parks, Trails, and Greenways 2.0 $1,527,300 61.3 $93,568,507 35.7 $54,497,119 138.2 $211,036,205 235.1 $359,101,831 Total 2.6 79.6 $121,639,059 46.4 $70,846,254 179.6 $274,347,066 305.7 $466,832,380 Subtotal Development 5.0 153.2 $233,921,268 89.2 $136,242,797 345.4 $527,590,512 587.8 $897,754,577 Total (Rounded) 5.0 153.2 $316,321,000 89.2 $184,235,000 345.4 $713,437,000 587.8 $1,213,994,000 Source: City of Fresno; EPS.
[1] Land acquisition cost provided by City of Fresno PARCS Department. Preliminary estimate based on costs of recently acquired park land.

Construction cost estimated as cost provided by PARCS Department in 2023 dollars escalated to 2025 dollars as shown below :

Construction cost per acre (2023$) $1,500,000
CCI Adjustment (See Table B-10): 1.82%
Construction cost per acre (2025$) $1,527,300
[2] Developers required to fund pocket parks.

Acres per
1,000 Resid.

BuildoutCost per
Acre [1]
Phase 1N Phase 1S Phases 2 and 3
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Table B-7
Fresno SEDA Financing Options
Estimated Transit System Costs [1]
Item Phase 1N Phase 1S Total Buildout Phase 1N Phase 1S Total Buildout Phase 1 Population and Emp. 36,674 30,238 66,91
2 Pct. Of Total 55% 45%
CCI Adjustment (2023-2025) [4]
Capital Facilities Costs
Buses $12,110,000 $9,990,000 $22,100,000 $19,500,000 $41,600,000 $12,330,402 $10,171,818 $22,502,220 $19,854,900 $42,357,120 Stops $3,620,000 $2,980,000 $6,600,000 $18,900,000 $25,500,000 $3,685,884 $3,034,236 $6,720,120 $19,243,980 $25,964,100 Facilities $0 $0 - $65,200,000 $65,200,000 - - - $66,386,640 $66,386,640 Total (Rounded) $15,730,000 $12,970,000 $28,700,000 $103,600,000 $132, 300,000 $16,016,000 $13,206,000 $29,222,000 $105,486,000 $134,708,0 00 Source: Fresno Area Express (FAX); EPS.
[1] Cost of light-rail excluded. If included, it is estimated that light rail service to the Fresno Yosemite International Airport and Downton would result in an additional $2 billion at buildout. [2] Unit costs in 2023 dollars adjusted by percentage increase in CCI from September 2023 to January 2025. [3] Phase 1N and 1S costs estimated as total Phase 1 total cost * percentage of total Phase 1 population and employees for each sub-phase. [4] See Table B-10.

1.82%
Phase 1 [3]
Estimated Cost (2023$)
Phase 1
Estimated Cost (2025$) [2]
Phases
2 and 3
Phases
2 and 3
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Table B-8
Fresno Park Development Impact Fee Program Update
Estimated Community and Neighborhood Center Cost (2025$) Item 2023$ 2025$ [1]
Quantit
y
(ac/sq. ft./pools) Cost
Quantity
(ac/sq. ft./pools) Cost
Quantity
(ac/sq. ft./pools) Cost
Quantity
(ac/sq. ft./pools) Cost
CCI Adjustment (2023-2025) [3] 1.82%
SEDA Projected New Population 30,632 17,841 69,088 117,561 Estimated Cost [4]
Site Improvement and Parking [5] 0.21 acres $332,000 $338,042 6.43 $2,174,530 3.75 $1,266,512 14.51 $4, 904,476 24.69 $8,345,517 Construction [6] 315 sq. ft. $552 $562 9,649 $5, 422,783 5,620 $3,158,392 21,763 $12,230,649 37,032 $20,811,824 Pools 0.015 pools TBD TBD 0.46 TBD 0.27 TBD 1.04 TBD 1.76 TBD Subtotal $7,597,312 $4,424,904 $17,135,124 $29,157,340
Soft Costs [5] 25% $1,899,328 $1,106,226 $4,283,781 $7,289,335 Total (Rounded) $9,497,000 $5,531,000 $21,419,000 $36,447,000 Source: City of Fresno; EPS.
[1] Unit costs in 2025 dollars estimated as unit costs in 2023 dollars adjusted by pct. increase in CCI from September 2023 to January 2025. [3] See Table B-10.
[4] Assumes community centers will be built at parks. The parks cost estimates include land acquisition (see Table B-6), so the community center cost estimates exclude land acquisition. [5] Unit costs (2023$) from 2022 Fresno Fire Impact Fee Program Nexus Study Update. [6] Based on conversations with City Public Works staff, unit costs (2023$) estimated as 75% of construction cost per square foot in 2022 Fresno Fire Impact Fee Program Nexus Study Update.

Phases 2 and 3 BuildoutAcres/Sq. Ft.
/
Pools per
Resident
Cost per Acre/Sq. Ft. Phase 1N Phase 1S
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Table B-9
Fresno Park Development Impact Fee Program Update
Estimated Community and Neighborhood Center Existing Facilities Item Acres Bldg. Sq. Ft. Pools
Existing Household Population (1/1/24) [1] 536,504
Existing Community and Neighborhood Centers [1]
Community Center 43.9 108,258 3
Neighborhood Center 70.2 60,546 5
Total 114.1 168,804 8
Acres/Sq. Ft./Pools per 1,000 Residents 0.21 315 0.015
Source: City of Fresno; EPS.
[1] CA DOF household population as of 1/1/2024.
[2] From PARCS Facility Inventory.

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Table B-10
Fresno SEDA Financing Options
Construction Cost Inflation Factors
Year CCI Change Pct. Change
20-City CCI
September 2023 13,485.67
January 2025 13,731.60 245.93 1.82%
Source: Engineering News-Record
Change in CCI
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APPENDIX C:

Supporting Calculations for Existing
Fee Programs Revenue and
SEDA Special Financing District Funding

Table C-1 Estimated Infrastructure Fee Burden ................ C-1 Table C-2 Estimated Fee Revenue from New Development C-2 Table C-3 Estimated Residential School Fees ................... C-4 Table C-4 Fresno Metropolitan Flood Control District Drainage Fees per Acre ............................................... C-5 Table C-5 Estimated Percentage of SEDA Costs Funded
through Existing Fee Programs ........................ C-6 Table C-6 Estimated Costs Funded through Existing Fee
Programs ..................................................... C-8 Table C-7 Total Project Value at Phase 1 and Buildout ....... C-9 Table C-1
Fresno SEDA Financing Options
Estimated Infrastructure Fee Burden (2025$)
Item
Single Family
Low Density
Single Family
Medium
Density Multifamily
Commercial
Retail
Commercial
Office
Light
Industrial
Assumptions
Estimated Sales Price per Unit /1,000 Nonres. Bldg. Sq. Ft. $1,500,000 $465,000 $290,000 $190,000 $260,000 $50,000 Square Feet per Unit 4,000 1,900 1,000 - - -
Garage Sq. Ft. per Unit 600 400 - - - -
Units per Project - - 10 - - -
Building Sq Ft per Project - - 10,000 5,000 5,000 10,000 Average Density (Dwelling Units/Acre, FAR) 0.25 22.06 30.60 0.27 0.24 0.11 Linear Feet per Unit or Commercial Project 75 50 25 500 750 1,500 Water Meter Size 1" 1" 2" 2" 2" 2"
Meters per Residential Unit / Multifamily or Nonresidential Acre 1 1 2 2 2 2 Valuation
Construction Group and Type R-3, VB R-3, VB R-2, VA M, II-B B, I-B F-2, II-B Construction Group and Type - Garage U, VB U, VB
Value per Building Square Foot $167 $167 $156 $181 $254 $139 Value per Garage Building Square Foot $66 $66 - - - - Valuation per Unit /1,000 Nonres. Bldg. Sq. Ft. $709,368 $344,595 $155,950 $180,670 $253,510 $138,940 Processing Fees
Building Inspection $1,747 $1,341 $839 $561 $581 $390
Building Inspection (Garage) $3,946 $990 - - - -
Building Permit Plan Check Fee - Master Plan $981 $650 - - - - Building Permit Plan Check Fee $62 $43 $580 $747 $708 $546 Building Permit Plan Check Fee - Garage $715 $571 - $0 $0 $0 General Plan and Related Documents Fee $956 $461 $182 $168 $165 $120 Technology Surcharge $23 $23 $23 $5 $5 $2
Fire Plan Review, Plan Check, & Fire Prevention Surcharge Fees $396 $396 $348 $364 $370 $222 California Building Standards Fee $29 $14 $7 $2 $2 $1
Strong Motion Fee $92 $45 $20 $10 $14 $4
Subtotal Processing Fees $8,947 $4,534 $1,999 $1,857 $1,845 $1,285 Development Impact Fees [1]
Police Facilities Fee $954 $954 $728 $892 $850 $425
Fire Facilities Fee $2,301 $2,301 $1,755 $606 $693 $346 Parks Facility Fee $3,590 $3,590 $2,706 - - -
Quimby Parkland Dedication Fee $1,552 $1,552 $1,172 - - - Major Streets Fee - Citywide [2] N/A N/A N/A N/A N/A N/A Major Streets Fee - New Growth [2] N/A N/A N/A N/A N/A N/A Traffic Signal Charge [2] N/A N/A N/A N/A N/A N/A
Oversize Sewer Charge $8,712 $99 $71 $185 $208 $455
Wastewater Facilities Sewer Charge $2,119 $2,119 $2,119 $489 $550 $1,975 Water Capacity Charge $5,723 $5,723 $2,861 $5,721 $5,721 $2,861 Fresno County Regional Transportation Mitigation Fee $2,118 $2,118 $1,642 $1,850 $1,180 $300 Fresno County Public Facilities Fee [3] $3,357 $3,357 $2,466 $367 $532 $174 Fresno Metropolitan Flood Control District Drainage Fee [4] $37,720 $750 $650 $2,427 $2,574 $5,288 Subtotal Development Impact Fees $68,146 $22,563 $16,170 $12,537 $12,308 $11,823 School District
Clovis/Sanger Unified School District Weighted Average Fees [5] $22,075 $10,293 $5,365 $840.00 $840.00 $840.00 TOTAL CITY/COUNTY/REGIONAL FEES [6] $99,168 $37,390 $23, 534 $15,234 $14,993 $13,948 Source: City of Fresno; School Facility Fee Justification Report For Residential, Commercial & Industrial Development Projects for Clovis Unified School District District, April 2023; Sanger Unified School District personnel; Fresno Council of Governments; County of Fresno; EPS.

See Notes on the next page.
[1] In addition to the fees shown on this table, the City w ill establish a separate Trunk Sewer Charge for the Temperance Trunk Service Area that SEDA development will pay. As this fee has not yet been developed, no Trunk Sewer Fees have been included. [2] SEDA excluded from Major Streets Fee Programs and Traffic Signal Fee Program. [3] Total Public Facilities Fee for Fresno County includes Count y Wide Protection, General Government, Library, Health and Human Services, Sheriff Patrol and Investigation, County Parks, and an Administration Charge. [4] Drainage fee calculated using the average value of the 4 basins located within SEDA. See Table C-4. [5] See Table C-3 for estimated school fees per square foot. [6] Total fees are an estimate based on assumptions. Fees will vary based on parameters of specific projects.

Fees Current as of January 2025
Residential Nonresidential
Per Unit
Per 1,000 sq Ft
Per Unit Per 1,000 sq Ft
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Fresno SEDA Financing Options
Estimated Fee Revenue from New Development (2025$) [1]
Item
Single Family
Low Density
Single Family
Medium Density Multifamily
Commercial
Retail
Commercial
Office
Light
Industrial Total
Single Family
Low Density
Single Family
Medium Density Multifamily
Commercial
Retail
Commercial
Office
Light
Industrial Total
Assumptions
Dwelling Units 20 6,182 4,412 - - - 10,614 - 3,209 3,153 - - - 6,362 Building Square Feet - - - 731,633 248,183 - 979,816 - - - 985,845 1,215,412 1,824,762 4,026,019 Processing Fees
Building Inspection $34,933 $8,288,207 $3,700,459 $410,440 $144,151 - $12,578,191 - $4,301,971 $2,644,713 $553,051 $705,943 $710,889 $8,916,567 Building Inspection (Garage) $78,911 $6,120,710 - - - - $6,199,622 - $3,176,938 - - - - $3,176,938 Building Permit Plan Check Fee - Master Plan $19,623 $4,016,260 - - - - $4,035,883 - $2,084,629 - - - - $2,084,629 Building Permit Plan Check Fee $1,240 $267,433 $2,560,262 $546,679 $175,768 - $3,551,382 - $138,811 $1,829,815 $736,627 $860,779 $997,112 $4,563,144 Building Permit Plan Check Fee - Garage $14,308 $3,532,457 - - - - $3,546,765 - $1,833,512 - - - - $1,833,512 General Plan and Related Documents Fee $19,119 $2,851,476 $803,250 $122,798 $41,046 - $3,837,689 - $1,480,051 $574,082 $165,466 $201,010 $219,137 $2,639,745 Technology Surcharge $454 $140,270 $100,108 $3,320 $1,126 - $245,278 - $72,807 $71,547 $4,474 $5,516 $4,140 $158,483 Fire Plan Review and Plan Check Fees $7,920 $2,448,072 $1,536,450 $266,649 $91,732 - $4,350,823 - $1,270,665 $1,098,098 $359,299 $449,234 $405,992 $3,583,289 California Building Standards Fee $580 $86,548 $30,884 $1,171 $546 - $119,729 - $44,923 $22,073 $1,577 $2,674 $1,095 $72,341 Strong Motion Fee $1,844 $276,937 $89,447 $7,402 $3,523 - $379,154 - $143,743 $63,927 $9,974 $17,255 $7,099 $241,999 Subtotal Processing Fees $178,932 $28,028,371 $8,820,860 $1,358,460 $457,893 - $38,844,51 6 - $14,548,04 8 $6,304,256 $1,830,469 $2,242,410 $2,345,46 4 $27,270,647 Development Impact Fees
Police Facilities Fee $19,089 $5,900,348 $3,211,539 $652,638 $210,891 - $9,994,505 - $3,062,559 $2,295,282 $879,403 $1,032,784 $775,287 $8,045,316 Fire Facilities Fee $46,011 $14,221,938 $7,742,398 $443,443 $171,912 - $22,625,701 - $7,381,858 $5,533,481 $597,521 $841,891 $631,988 $14,986,739 Parks Facility Fee $71,805 $22,194,987 $11,940,107 - - - $34,206,900 - $11,520,247 $8,533,577 - - - $20,053,824 Quimby Parkland Dedication Fee $31,050 $9,597,493 $5,170,511 - - - $14,799,054 - $4,981,552 $3,695,357 - - - $8,676,909 Major Streets Fee - Citywide - - - - - - - - - - - - - - Major Streets Fee - New Growth - - - - - - - - - - - - - - Traffic Signal Charge - - - - - - - - - - - - - - Oversize Sewer Charge $174,240 $610,353 $314,031 $135,488 $51,705 - $1,285,816 - $316,802 $224,437 $182,564 $253,211 $829,437 $1,806,452 Wastewater Facilities Sewer Charge $42,380 $13,099,658 $9,349,028 $357,748 $136,524 - $22,985,338 - $6,799,341 $6,681,737 $482,051 $668,590 $3,603,358 $18,235,076 Water Capacity Charge $114,453 $35,377,484 $12,620,641 $4,185,708 $1,419,870 - $53,718,156 - $18,362,585 $9,019,954 $5,640,071 $6,953,434 $5,219,780 $45,195,824 Fresno County Regional Transportation Mitigation Fee $42,360 $13,093,476 $7,244,504 $1,353,520 $292,856 - $22,026,717 - $6,796,133 $5,177,637 $1,823,813 $1,434,186 $547,429 $15,779,197 Fresno County Public Facilities Fee $67,140 $20,752,974 $10,879,992 $268,509 $132,034 - $32,100,649 - $10,771,774 $7,775,915 $361,805 $646,599 $317,509 $19,873,601 Fresno Metropolitan Flood Control District Drainage Fee $754,400 $4,637,201 $2,868,521 $1,775,397 $638,892 - $10,674,410 - $2,406,926 $2,050,128 $2,392,274 $3,128,804 $9,649,160 $19,627,292 Subtotal Development Impact Fees $1,362,928 $139,485,913 $71,341,272 $9,172,451 $3,054,68 4 - $224,417,24 7 - $72,399,77 7 $50,987,503 $12,359,502 $14,959,500 $21,573,947 $172,280,230 School District [2] $441,491 $63,632,52 2 $23,668,819 $614,571 $208,47 4 - $88,565,87 7 - $33,028,28 5 $16,916,071 $828,110 $1,020,94 6 $1,532,800 $53,326,211 Subtotal Development Impact Fees $1,804,418 $203,118,435 $95,010,091 $9,787,022 $3,263,15 8 - $312,983,12 4 - $105,428,06 2 $67,903,574 $13,187,611 $15,980,44 6 $23,106,748 $225,606,441 Total Estimated Fee Revenue (Rounded) $1,983,000 $231,147,00 0 $103,831,000 $11,145,000 $3,721,000 - $351,828,00 0 - $119,976,00 0 $74,208,000 $15,018,000 $18,223,000 $25,452,000 $252,877,000 Source: City of Fresno; School Facility Fee Justification Report For Residential, Commercial & Industrial Development Projects for Clovis Unified School District District, April 2023; Sanger Unified School District personnel; Fresno Council of Governments; County of Fresno; EPS. [1] See Table C-1 for estimated fees.
[2] Project development split between Clovis USD and Sanger USD. See Table C-3 for school fees calculation.

Phase 1N
Residential Nonresidential
Phase 1S
Residential Nonresidential
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Fresno SEDA Financing Options
Estimated Fee Revenue from New Development (2025$) [1]
Item
Single Family
Low Density
Single Family
Medium Density Multifamily
Commercial
Retail
Commercial
Office
Light
Industrial Total
Single Family
Low Density
Single Family
Medium Density Multifamily
Commercial
Retail
Commercial
Office
Light
Industrial Total
Assumptions
Dwelling Units 75 11,842 12,946 - - - 24,862 95 21,232 20,511 - - - 41,838 Building Square Feet - - - 2,629,988 2,477,523 1,096,211 6,203,721 - - - 4,347,465 3,941,118 2,920,973 11,209,556 Processing Fees
Building Inspection $130,999 $15,875,899 $10,857,727 $1,475,402 $1,439,010 $427,061 $30,206,098 $165,932 $28,466,078 $17,202,899 $2,438,893 $2,289,104 $1,137,950 $51,700,855 Building Inspection (Garage) $295,917 $11,724,101 - - - - $12,020,018 $374,829 $21,021,749 - - - - $21,396,578 Building Permit Plan Check Fee - Master Plan $73,587 $7,693,067 - - - - $7,766,654 $93,210 $13,793,956 - - - - $13,887,166 Building Permit Plan Check Fee $4,649 $512,263 $7,512,209 $1,965,137 $1,754,631 $599,007 $12,347,896 $5,888 $918,507 $11,902,286 $3,248,444 $2,791,179 $1,596,119 $20,462,422 Building Permit Plan Check Fee - Garage $53,656 $6,766,352 - - - - $6,820,007 $67,964 $12,132,320 - - - - $12,200,284 General Plan and Related Documents Fee $71,695 $5,461,947 $2,356,863 $441,421 $409,744 $131,644 $8,873,314 $90,814 $9,793,474 $3,734,195 $729,685 $651,800 $350,781 $15,350,749 Technology Surcharge $1,702 $268,684 $293,733 $11,935 $11,243 $2,487 $589,784 $2,156 $481,760 $465,389 $19,729 $17,885 $6,628 $993,545 Fire Plan Review and Plan Check Fees $29,700 $4,689,234 $4,508,184 $958,520 $915,729 $243,897 $11,345,264 $37,620 $8,407,971 $7,142,732 $1,584,468 $1,456,695 $649,889 $19,279,376 California Building Standards Fee $2,175 $165,781 $90,619 $4,208 $5,451 $658 $268,891 $2,755 $297,252 $143,575 $6,956 $8,670 $1,753 $460,961 Strong Motion Fee $6,916 $530,468 $262,451 $26,609 $35,172 $4,265 $865,881 $8,761 $951,149 $415,825 $43,986 $55,950 $11,364 $1,487,033 Subtotal Processing Fees $670,996 $53,687,795 $25,881,786 $4,883,232 $4,570,980 $1,409,01 8 $91,103,807 $849,928 $96,264,21 4 $41,006,902 $8,072,161 $7,271,28 4 $3,754,482 $157,218,97 0 Development Impact Fees
Police Facilities Fee $71,583 $11,302,001 $9,423,159 $2,346,028 $2,105,250 $465,747 $25,713,768 $90,672 $20,264,909 $14,929,980 $3,878,070 $3,348,926 $1,241,034 $43,753,589 Fire Facilities Fee $172,541 $27,241,844 $22,717,411 $1,594,036 $1,716,130 $379,662 $53,821,623 $218,551 $48,845,640 $35,993,290 $2,634,999 $2,729,934 $1,011,650 $91,434,064 Parks Facility Fee $269,270 $42,514,064 $35,034,148 - - - $77,817,481 $341,075 $76,229,298 $55,507,833 - - - $132,078,205 Quimby Parkland Dedication Fee $116,437 $18,383,810 $15,171,090 - - - $33,671,337 $147,487 $32,962,856 $24,036,958 - - - $57,147,300 Major Streets Fee - Citywide - - - - - - - - - - - - - - Major Streets Fee - New Growth - - - - - - - - - - - - - - Traffic Signal Charge - - - - - - - - - - - - - - Oversize Sewer Charge $653,400 $1,169,120 $921,415 $487,035 $516,151 $498,278 $4,245,398 $827,640 $2,096,276 $1,459,883 $805,086 $821,066 $1,327,715 $7,337,666 Wastewater Facilities Sewer Charge $158,925 $25,092,139 $27,431,515 $1,285,990 $1,362,869 $2,164,687 $57,496,124 $201,305 $44,991,138 $43,462,279 $2,125,789 $2,167,983 $5,768,045 $98,716,538 Water Capacity Charge $429,200 $67,764,878 $37,030,939 $15,046,297 $14,174,036 $3,135,739 $137,581,090 $543,653 $121,504,948 $58,671,534 $24,872,075 $22,547,341 $8,355,519 $236,495,070 Fresno County Regional Transportation Mitigation Fee $158,850 $25,080,297 $21,256,511 $4,865,477 $2,923,477 $328,863 $54,613,475 $201,210 $44,969,906 $33,678,652 $8,042,811 $4,650,519 $876,292 $92,419,389 Fresno County Public Facilities Fee $251,775 $39,751,916 $31,923,603 $965,205 $1,318,042 $190,741 $74,401,282 $318,915 $71,276,663 $50,579,510 $1,595,520 $2,096,675 $508,249 $126,375,532 Fresno Metropolitan Flood Control District Drainage Fee $2,829,000 $8,882,467 $8,416,690 $6,381,989 $6,377,825 $5,796,652 $38,684,623 $3,583,400 $15,926,594 $13,335,339 $10,549,660 $10,145,521 $15,445,812 $68,986,326 Subtotal Development Impact Fees $5,110,979 $267,182,536 $209,326,481 $32,972,05 7 $30,493,780 $12,960,369 $558,046,202 $6,473,907 $479,068,226 $331,655,256 $54,504,009 $48,507,965 $34,534,316 $954,743,679 School District [2] $1,655,589 $121,886,850 $69,448,028 $2,209,190 $2,081,11 9 $920,817 $198,201,59 3 $2,097,080 $218,547,65 7 $110,032,918 $3,651,871 $3,310,53 9 $2,453,617 $340,093,682 Subtotal Development Impact Fees $6,766,569 $389,069,386 $278,774,508 $35,181,246 $32,574,900 $13,881,186 $756,247,795 $8,570,987 $697,615,883 $441,688,173 $58,155,880 $51,818,504 $36,987,933 $1,294,837,361 Total Estimated Fee Revenue (Rounded) $7,438,000 $442,757,00 0 $304,656,000 $40,064,000 $37,146,000 $15,290,000 $847,352,000 $9,421,000 $793,880,00 0 $482,695,000 $66,228,000 $59,090,000 $40,742,000 $1,452,056,000 Source: City of Fresno; School Facility Fee Justification Report For Residential, Commercial & Industrial Development Projects for Clovis Unified School District District, April 2023; Sanger Unified School District personnel; Fresno Council of Governments; County of Fresno; EPS. [1] See Table C-1 for estimated fees.
[2] Project development split between Clovis USD and Sanger USD. See Table C-3 for school fees calculation.

Buildout
Residential Nonresidential
Phase 2 and 3
Residential Nonresidential
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Table C-3
Fresno SEDA Financing Options
Estimated Residential School Fees (2025$)
Item Clovis Sangar Total Clovis Sangar Total
Dwelling Units [1]
Single Family Low Density 20 - 20 48 47 95
Single Family Medium Density 6,182 3,209 9,391 7,615 13,617 21,232 Multifamily 4,412 3,153 7,565 5,786 14,725 20,511
Total 10,614 6,362 16,976 13,449 28,389 41,838
Pct of Total
Single Family Low Density 100% 0% 100% 51% 49% 100%
Single Family Medium Density 66% 34% 100% 36% 64% 100%
Multifamily 58% 42% 100% 28% 72% 100%
Total 63% 37% 100% 32% 68% 100%
School Fee per Sq. Ft. (eff. as of 2024) $5.86 $5.17 $5.86 $5.17 Weighted Average School Fee
Single Family Low Density $5.86 $0.00 $5.86 $2.96 $2.56 $5.52 Single Family Medium Density $3.86 $1.77 $5.62 $2.10 $3.32 $5.42 Multifamily $3.42 $2.15 $5.57 $1.65 $3.71 $5.36
Source: City of Fresno; Clovis USD; Sanger USD; EPS.
[1] See Table A-5 for dwelling units by school district.

BuildoutPhase 1
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Table C-4
Fresno SEDA Financing Options
Fresno Metropolitan Flood Control District Drainage Fees per Acre (2025$) Low Density [2] Med. Density [3] Multifamily [4]
Basin [1]
Improvement
Type A1, A2, RR R-1 50% R-4, T-P
C-1, C-2, C-3, C-4,
C-5, C-6, C-L, P C-P, C-M, R-P
M-1, M-2, M-3,
C-R, M-1-P, S-L
BASIN $1,970 $3,770 $5,560 $9,280 $8,650 $8,080
PIPE $7,010 $11,210 $13,830 $17,920 $16,990 $16,060
TOTAL $8,980 $14,980 $19,390 $27,200 $25,640 $24,140
BASIN $1,170 $2,240 $3,300 $5,510 $5,140 $4,800
PIPE $4,790 $7,900 $9,450 $12,240 $11,610 $10,970
TOTAL $5,960 $10,140 $12,750 $17,750 $16,750 $15,770
BASIN $3,560 $7,370 $10,020 $16,730 $15,610 $14,580
PIPE $9,290 $16,030 $18,330 $23,750 $22,520 $21,290
TOTAL $12,850 $23,400 $28,350 $40,480 $38,130 $35,870
BASIN $1,560 $3,230 $3,610 $7,330 $6,840 $6,390
PIPE $8,370 $14,440 $15,480 $21,400 $20,290 $19,180
TOTAL $9,930 $17,670 $19,090 $28,730 $27,130 $25,570
Average $9,430 $16,548 $19,895 $28,540 $26,913 $25,338
Source: Fresno Metropolitan Flood Control District 2024 Drainage Fee Schedule; EPS. [1] The basins shown are existing basins in the SEDA area, but most of SEDA is not included in an existing basin in the fee program. [2] Low Density: Rural Residential (RR).
[3] Medium Density: Single Family 50% impervious surface (R-1 50%). [4] Multifamily: High Density Multifamily with minimum lot size of 10,000 sq. ft. (R-4). [5] Commercial Retail: Shopping Centers or General Commercial (C-1-C-6). [6] Commercial Office: Administrative and Professional Office (C-P). [7] Light Industrial: Light Manufacturing (M-1).

DS
DV
Single Family Light
Industrial
[7]
Commercial
Office [6]
Commercial
Retail [5]
BL
BM
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Table C-5
Fresno SEDA Financing Options
Estimated Percentage of SEDA Costs Funded through Existing Fee Programs (2025$) Improvement Existing Fee Programs
Fee Funded
SEDA Cost
(rounded)
Total SEDA
Cost (rounded)
City Fee Funded
Cost Pct. of
Total SEDA Cost
Table Reference Table C-6 Table 11
Backbone Infrastructure
Potable Water Water Capacity Fee $236,495,000 $721,767,000 33% Recycled Water - $191,053,000 0%
Sanitary Sewer Oversize Sewer and Wastewater Facilities Charges $106,055,000 $344,550,000 31% Stormwater Drainage Fresno Metropolitan Flood Control District Drainage Fee $34,493,000 $280,632,000 12% Transportation - $888,680,000 0%
Subtotal $377,043,000 $2,426,682,000 16%
Public Facilities
Police Police Facilities Fee $43,754,000 $43,754,000 100% Fire Fire Facilities Fee $91,435,000 $91,435,000 100%
Parks Parks Facilities and Quimby Parkland Dedication Fees $189,226,000 $1,213,993,000 16% Transit - $134,708,000 0%
Community Centers - $36,447,000 0%
Schools Clovis USD and Sanger USD School Fees $340,094,000 $340,094,000 100% Subtotal $664,509,000 $1,860,431,000 36%
Total Cost $1,041,552,000 $4,287,113,000
Source: City of Fresno; Fresno Metropolitan Flood Control District; Clovis USD; Sanger USD; EPS.

Amount (2025$)
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Table C-6
Fresno SEDA Financing Options
Estimated Costs Funded through Existing Fee Programs (2025$) Improvement Existing Fee Programs
Estimated
Fee
Revenue
Fee
Funded Cost
(Rounded)
Estimated
Fee
Revenue
Fee
Funded Cost
(Rounded)
Estimated
Fee
Revenue
Fee
Funded Cost
(Rounded)
Table Reference Table C-2 Table C-2 Table C-2
Formula A B A*B B A*B B A*B
Backbone Infrastructure
Potable Water Water Capacity Fee 100% $53,718,156 $53,718,000 $45,195,824 $45,196,000 $98,913,980 $98,914,000 Recycled Water - - - - - -
Sanitary Sewer Oversize Sewer and Wastewater Facilities Charges 100% $24,271,154 $24,271,000 $20,041,528 $20,042,000 $44,312,682 $44,31 3,000 Stormwater Drainage Fresno Metropolitan Flood Control District Drainage Fee 50% $10,674,410 $5,337,000 $19,627,292 $9,814,000 $30,301, 703 $15,151,000 Transportation - - - - - -
Subtotal $88,663,721 $83,326,000 $84,864,644 $75,052,000 $173,528,365 $158,378,000 Public Facilities
Police Police Facilities Fee 100% $9,994,505 $9,995,000 $8,045,316 $8,045,000 $18,039,821 $18,040,000 Fire Fire Facilities Fee 100% $22,625,701 $22,626,000 $14,986,739 $14,987,000 $37,612,440 $37,613,000 Parks Parks Facilities and Quimby Parkland Dedication Fees 100% $49,005,954 $49,006,000 $28,730,733 $28,731,000 $77,736,687 $77,737,000 Transit - - - - - -
Community Centers - - - - - -
Schools Clovis USD and Sanger USD School Fees 100% $88,565,877 $88,566,000 $53,326,211 $53,326,000 $141,892,088 $141,892,000 Subtotal $170,192,038 $170,193,000 $105,088,999 $105,089,000 $275,281,037 $275,282,000 Total Cost $258,855,759 $253,519,000 $189,953,643 $180,141,000 $448,809,402 $433,660,000 Source: City of Fresno; Fresno Metropolitan Flood Control District; Clovis USD; Sanger USD; EPS.

Fee
Funded
Pct.

Phase 1N Phase 1S Phase 1 Total
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Table C-6
Fresno SEDA Financing Options
Estimated Costs Funded through Existing Fee Programs (2025$) Improvement Existing Fee Programs
Table Reference
Formula A
Backbone Infrastructure
Potable Water Water Capacity Fee 100%
Recycled Water
Sanitary Sewer Oversize Sewer and Wastewater Facilities Charges 100% Stormwater Drainage Fresno Metropolitan Flood Control District Drainage Fee 50% Transportation
Subtotal
Public Facilities
Police Police Facilities Fee 100%
Fire Fire Facilities Fee 100%
Parks Parks Facilities and Quimby Parkland Dedication Fees 100% Transit
Community Centers
Schools Clovis USD and Sanger USD School Fees 100%
Subtotal
Total Cost
Source: City of Fresno; Fresno Metropolitan Flood Control District; Clovis USD; Sanger USD; EPS.

Fee
Funded
Pct.

Estimated
Fee
Revenue
Fee
Funded Cost
(Rounded)
Estimated
Fee
Revenue
Fee
Funded Cost
(Rounded)
Table C-2 Table C-2
B A*B B D=A*B
$137,581,090 $137,581,000 $236,495,070 $236,495,000
- - - -
$61,741,522 $61,742,000 $106,054,204 $106,055,000
$38,684,623 $19,342,000 $68,986,326 $34,493,000
- - - -
$238,007,235 $218,665,000 $411,535,600 $377,043,000
$25,713,768 $25,714,000 $43,753,589 $43,754,000
$53,821,623 $53,822,000 $91,434,064 $91,435,000
$111,488,818 $111,489,000 $189,225,506 $189,226,000
- - - -
- - - -
$198,201,593 $198,202,000 $340,093,682 $340,094,000
$389,225,803 $389,227,000 $664,506,840 $664,509,000
$627,233,038 $607,892,000 $1,076,042,440 $1,041,552,000 BuildoutPhases 2 and 3
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Table C-7
Fresno SEDA Financing Options
Total Project Value at Phase 1 and Buildout (2025$)
Item
Estimated
Sales Price
Units/Bldg.

Sq. Ft.

Total
Value
Units/Bldg.

Sq. Ft.

Total
Value
Units/Bldg.

Sq. Ft.

Total
Value
Units/Bldg.

Sq. Ft.

Total
Value
Units/Bldg.

Sq. Ft.

Total
Value
Residential per unit
units units units units units
Single Family Low Density $1,500,000 20 $30,000,000 - - 20 $30,000,000 75 $112,500,000 95 $142,500,000 Single Family Medium Density $465,000 6,182 $2,874,630,000 3,209 $1,492,068,750 9,391 $4,366,698,750 11,842 $5,506,297,500 21,232 $9,872,9 96,250 Multifamily $290,000 4,412 $1,279,480,000 3,153 $914,442,500 7,565 $2,193,922,500 12,946 $3,754,195,000 20,511 $5,948,117,500 Subtotal Residential 10,614 $4,184,110,000 6,362 $2,406,511,250 16,976 $6,590,621,250 $24,862 $9,372,992,500 41,838 $15,963,613,750 Nonresidential per KSF bldg.sq. ft. bldg.sq. ft. bldg.sq. ft. bldg.sq. ft. bldg.sq. ft.

Commercial Retail $190,000 731,633 $139,010,202 985,845 $187,310,551 1,717,478 $326,320,753 2,629,988 $499,697,667 4,347,465 $826,018,420 Commercial Office $260,000 248,183 $64,527,677 1,215,412 $316,007,079 1,463,595 $380,534,756 2,477,523 $644,155,916 3,941,118 $1,024,690,6 71 Light Industrial $50,000 - - 1,824,762 $91,238,115 1,824,762 $91,238,115 1,096,211 $54,810,537 2,920,973 $146,048,652 Subtotal Nonresidential 979,816 $203,537,879 4,026,019 $594,555,745 5,005,835 $798,093,624 6,203,721 $1,198,664,119 11,209,556 $1,996,757 ,743 Total Future Development (Rounded) $4,387,648,000 $3,001,067,000 $7,388,715,000 $10,571,657,000 $17,960,371,000 Source: City of Fresno; EPS
BuildoutPhase 1 TotalPhase 1N Phase 1S Phases 2 and 3
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APPENDIX D:

Estimated Maximum Special Tax
Revenue and Bond Sizing

Table D-1 Estimated Bond Sizing ................................... D-1 Table D-2 Estimated Bond Proceeds at
Completion of Phase 1 ................................... D-2 Table D-3 Estimated Bond Proceeds at Buildout ............... D-3 Table D-4 School District Ad Valorem Property Tax Rates .. D-4

Table D-1
Fresno SEDA Financing Options
Estimated Bond Sizing (2025$)
Item Assumption Phase 1N Phase 1S Total Phase 1 Buildout Maximum Special Taxes Available for Debt Service
Estimated Annual Maximum Special Taxes [1] $12,940,988 $14,967,842 $27,908,829 $33,435,425 $61,344,254 Less Estimated Administration Costs 4.00% ($518,000) ($599,000) ($1,117,000) ($1,338,000) ($2,455,000) Less Delinquency Coverage 10.00% ($1,294,000) ($1,497,000) ($2,791,000) ($3,344,000) ($6,135,000) Adjustment for Rounding $1,013 $8,158 $9,171 $6,575 $15,746 Estimated Gross Debt Service (Rounded) $11, 130,000 $12,880,000 $24,010,000 $28,760,000 $52,770,000 Total Bond Size
Total Bond Size without Tax Escalation $153,203,000 $177,291,000 $330,494,000 $395,877,000 $726,371,000 Adjustment for Rounding $97,000 $9,000 $106,000 $23,000 $29,000 Total Bond Size (Rounded) $153,300,000 $177,300,000 $330,600,000 $395,900,000 $726,400,000 Increase for Annual Escalation [2] 15% $22,995,000 $26,595,000 $49,590,000 $59,385,000 $108,960,000 Total Bond Size (Rounded) $176,295,000 $203,895, 000 $380,190,000 $455,285,000 $835,360,000 Estimated Bond Proceeds
Total Bond Size (Rounded) $176,295,000 $203,895, 000 $380,190,000 $455,285,000 $835,475,000 Less Capitalized Interest 12 months ($10,578,000) ($12,234,000) ($22,812,000) ($27,317,000) ($50,129,000) Less Bond Reserve Fund 1-yr. debt service ($11,130,000) ($12,880,000) ($24,010,000) ($28,760,000) ($52,770,000) Less Issuance Cost 5.00% ($8,815,000) ($10,195,000) ($19,010,000) ($22,764,000) ($41,774,000) Estimated Bond Proceeds $145,772,000 $168,586,000 $314,358,000 $376,444,000 $690,802,000 Assumptions [3]
Interest Rate 6.00%
Term 30 years
Annual Escalation 2%
Source: City of Fresno; EPS.
[1] See Table D-3.
[2] Assumes special taxes are escalated 2.0% annually for 30 years, which increases total bond size by approximately 15% to 20 %. This estimate uses 15% to be conservative.
[3] Estimated bond sizing based on conservative assumptions. The interest rate will be determined at the time of the bond sale. This analysis is based on an assumed bond term of 30 years.

Estimated Bond Sizing
Phase 1 Phases
2 and 3
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Table D-2
Fresno SEDA Financing Options
Estimated Bond Proceeds at Completion of Phases 1N and 1S (2025$) Prelim.

Max. Special Units
/
Item Tax Rate Acres Amount % of Total Amount Per Unit/Acre Amount Per Unit/Acre Formula B A C = A *B D = C / Total E= D x total bond F = E / A G = D x bond H = G / A Residential per unit units per unit per unit
Single Family Low Density $5,900 20 $118,000 1% $1,607,513 $80,376 $1,329,195 $66,460 Single Family Medium Density $1,400 6,182 $8,654,800 67% $117,904,292 $19,072 $97,490,822 $15,770 Multifamily $800 4,412 $3,529,600 27% $48,083,721 $10,898 $39,758,701 $9,011 Subtotal Residential Land Uses 10,614 $12,302,400 95% $167,595,526 $138,578,718 Nonresidential per acre net acres per acre per acre
Commercial Retail $10,000 50.5 $504,551 4% $6,873,499 $136,230 $5,683,449 $112,644 Commercial Office $10,000 13.4 $134,036 1% $1,825,975 $136,230 $1,509,833 $112,644 Light Industrial $10,000 0.0 $0 0% $0 $0 $0 $0
Subtotal Nonresidential 63.9 $638,588 5% $8,699,474 $7,193,282 Total Phase 1N [2] $12,940,988 100.00% $176,295,000 $145,772,000 Residential per unit units per unit per unit
Single Family Low Density $5,900 0 $0 0% $0 $0 $0 $0
Single Family Medium Density $1,400 3,209 $4,492,250 30% $61,194,349 $19,071 $50,597,172 $15,768 Multifamily $800 3,153 $2,522,600 17% $34,363,373 $10,898 $28,412,583 $9,011 Subtotal Residential Land Uses 6,362 $7,014,850 47% $95,557,722 $79,009,755 Nonresidential per acre net acres per acre per acre
Commercial Retail $10,000 131.6 $1,316,408 9% $17,932,372 $136,222 $14,826,979 $112,632 Commercial Office $10,000 173.7 $1,737,078 12% $23,662,829 $136,222 $19,565,079 $112,632 Light Industrial $10,000 490.0 $4,899,506 33% $66,742,077 $136,222 $55,184,187 $112,632 Subtotal Nonresidential 795.3 $7,952,992 53% $108,337,278 $89,576,245 Total Phase 1S [2] $14,967,842 100.00% $203,895,000 $168,586,000 Total Phase 1 $27,908,829 $380,190,000 $314,358,000
Source: City of Fresno; EPS.
[1] Assumes special taxes are escalated 2.0% annually for 30 yea rs, which increases total Bond Size by approximately 20%. [2] See Table D-1 for total bond size and total bond proceeds.

Phase 1S
Maximum Special Tax Bond Size [1] Bond Proceeds
Phase 1
Phase 1N
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Table D-3
Fresno SEDA Financing Options
Estimated Bond Proceeds at Buildout (2025$)
Prelim.

Max. Special Units/
Item Tax Rate Acres Amount % of Total Amount Per Unit/Acre Amount Per Unit/Acre Formula B A C = A *B D = C / Total E= D x total bond F = E / A G = D x bond H = G / A Residential per unit units per unit per unit
Single Family Low Density $5,900 75 $442,500 1% $6,025,454 $80,339 $4,982,035 $66,427 Single Family Medium Density $1,400 11,842 $16,578,100 50% $225,741,418 $19,064 $186,650,126 $15,762 Multifamily $800 12,946 $10,356,400 31% $141,021,494 $10,893 $116,601,019 $9,007 Subtotal Residential Land Uses 24,862 $27,377,000 82% $372,788,366 $308,233,180 Nonresidential per acre net acres per acre per acre
Commercial Retail $10,000 193.0 $1,930,466 6% $26,286,860 $136,168 $21,734,805 $112,588 Commercial Office $10,000 192.0 $1,920,456 6% $26,150,547 $136,168 $21,622,097 $112,588 Light Industrial $10,000 220.8 $2, 207,503 7% $30,059,228 $136,168 $24,853,918 $112,588 Subtotal Nonresidential 605.8 $6,058,425 18% $82,496,634 $68,210,820 Total Phases 2 and 3 $33,435,425 100% $455,285,000 $376,444,000 Residential per unit units per unit per unit
Single Family Low Density $5,900 95 $560,500 1% $7,632,651 $80,344 $6,311,830 $66,440 Single Family Medium Density $1,400 21,232 $29,725,150 48% $404,784,469 $19,065 $334,737,024 $15,765 Multifamily $800 20,511 $16,408,600 27% $223,445,346 $10,894 $184,778,409 $9,009 Subtotal Residential Land Uses 41,838 $46,694,250 76% $635,862,466 $525,827,264 Nonresidential per acre net acres per acre per acre
Commercial Retail $10,000 375.1 $3,751,425 6% $51,085,312 $136,176 $42,245,063 $112,611 Commercial Office $10,000 379.2 $3,791,570 6% $51,631,986 $136,176 $42,697,135 $112,611 Light Industrial $10,000 710.7 $7, 107,009 12% $96,780,235 $136,176 $80,032,537 $112,611 Subtotal Nonresidential 1,465.0 $14,650,004 24% $199,497,534 $164,974,736 Total [2] $61,344,254 100.00% $835,360,000 $690,802,000 Source: City of Fresno; EPS.
[1] A
ssumes special taxes are escalated 2.0% annually for 30 years, which increases total Bond Size by approximately 20%. [2] S
ee Table D-1 for total bond size and total bond proceeds.

Phases 2 and 3 and
Buildout
Buildout
Phases 2 and 3
Maximum Special Tax Bond Size [1] Bond Proceeds
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Table D-4
Fresno SEDA Financing Options
School District Ad Valorem Property Tax Rates (FY 2024-25) School District General Obligation Bond Tax Rate
Clovis USD
CLOVIS USD 2001, SERIES B 0.009458%
CLOVIS USD 2004, SERIES A 0.043896%
CLOVIS USD 2012, SERIES C 0.004364%
CLOVIS USD 2012, SERIES D 0.007898%
CLOVIS USD 2017 REFUNDING 0.002904%
CLOVIS USD 2019 REFUNDING 0.002156%
CLOVIS USD 2020, SERIES A 0.002592%
CLOVIS USD 2020, SERIES B 0.060000%
CLOVIS USD 2020, SERIES C 0.046968%
CLOVIS USD 2021 REFUNDING, SERIES B 0.008722%
CLOVIS USD 2022 REFUNDING 0.000646%
CLOVIS USD 2023 REFUNDING 0.011686%
CLOVIS USD 2024 REFUNDING 0.003552%
CLOVIS USD 2024 REFUNDING, SERIES B 0.000076%
CLOVIS USD 2025 REFUNDING 0.024460%
Subtotal Clovis 0.2293780%
San
ger USD
SANGER USD 2012, SERIES C 0.010056%
SANGER USD 2014 REFUNDING 0.037690%
SANGER USD 2016, SERIES A 0.021612%
SANGER USD 2016, SERIES B 0.009114%
SANGER USD 2018, SERIES A 0.008294%
SANGER USD 2018, SERIES B 0.011038%
SANGER USD 2018, SERIES C 0.015436%
SANGER USD 2020, SERIES A 0.019504%
SANGER USD 2020, SERIES B 0.030022%
SANGER USD 2021 REFUNDING 0.023014%
SANGER USD 2022 REFUNDING 0.009952%
Subtotal Sanger USD 0.195732%
Average Clovis USD/Sanger USD 0.212555%
State Center Community College
STATE CENTER C. COLLEGE 2002, SERIES 2018 A 0.002058%
STATE CENTER C. COLLEGE 2015 REFUNDING 0.003252%
STATE CENTER C. COLLEGE 2016, SERIES A 0.001296%
STATE CENTER CCD 2016, SERIES 2020 B 0.004176%
STATE CENTER CCD 2016, SERIES 2020 C 0.008070%
STATE CENTER C. COLLEGE 2017 REFUNDING 0.000234%
STATE CENTER C. COLLEGE 2020 REFUNDING 0.001320%
Subtotal State Center Community College 0.020406%
Total 0.232961%
Source: Fresno County Auditor Controller; EPS.

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Fresno City CouncilDecember 18, 2025

Fresno City Council
December 18, 2025