Agenda packet, special meeting — Pittsburg City Council, March 3, 2025

CITY OF PITTSBURG
AGENDA
MARCH 03, 2025

CITY HALL COUNCIL CHAMBER
65 CIVIC AVENUE, PITTSBURG, CA

SPECIAL MEETING

PUBLIC FINANCING AUTHORITY OF THE

PITTSBURG ENHANCED INFRASTRUCTURE FINANCING DISTRICT
6:00 P.M.

PRESIDING
Jelani Killings, Chair
Dionne Adams, Vice Chair
Juan Antonio Banales, Board Member
Nancy Parent, Board Member
Gerard D’Cruz, Board Member
-------------------------------------------------------------------------------------------------------------------------- Pittsburg City Council regular meetings are held the first and third Mondays of each month at 7:00 p.m. The Housing Authority meets in conjunction with the City Council on the third Monday of each month. The Pittsburg City Council meets regularly in the Council Chamber at 65 Civic Avenue, unless otherwise noted above. The City Council also sits as the Board of Directors of several other City agencies. The stipends for all agency members conform to state statutes governing compensation amounts.

All other Agencies meet on an as needed basis and will be listed above if applicable. Copies of the open session agenda packets, which are distributed to the City Council, are on file in the office of the City Clerk, 65 Civic Avenue, Pittsburg, California, and are available for public inspection, beginning 72 hours in advance, during normal business hours (8:00 a.m. – 5:00 p.m., Monday through Friday, except from noon to 1:00 p.m. and City holidays). The agenda and reports are also located on the City’s website at www.pittsburgca.gov. Additionally, if any reports or documents, which are public records, are distributed to the City Council less than 72 hours before the meeting, those reports and documents will also be available for public inspection in the City Clerk’s Office and on the day of the meeting in the Council Chamber at the public counter area below the dais. 1 6:00 PM - CONVENE IN OPEN SESSION

CALL TO ORDER

ROLL CALL

PLEDGE OF ALLEGIANCE

CITY MANAGER REPORTS/REMARKS
The City Manager may make brief announcements or informal comments at this time and brief the Council on items of interest. (No Action Required)

PUBLIC COMMENTS
Members of the audience who wish to address the City Council or Agency Boards on issues that are not scheduled for the agenda and on any items listed as part of the Consent Calendar should complete a Speaker's Card available at the dais. Please read the card carefully in order to fill out the card properly.

Submit the completed card to the City Clerk before the item is called, preferably before the meeting begins. Individuals will be given three minutes to address the Council unless additional time is allowed as provided for spokespersons. Prior to speaking, each member of the public shall state their name and business and City of residence in a clear and audible tone of voice. (No Action Required)

PUBLIC HEARING

1. First Public Hearing of the Pittsburg Enhanced Infrastructure Financing District Public Financing Authority to Hear Written and Oral Comments and Take Action to Modify or Reject Infrastructure Financing Plan, or Otherwise Proceed with EIFD Formation Proceedings
The City of Pittsburg has commenced forming an Enhanced Infrastructure Financing District (EIFD) that can serve as a mechanism to finance critical public infrastructure to support economic development in the City of Pittsburg. On January 21st, 2025, the Pittsburg EIFD Public Financing Authority (PFA) held a duly noticed public meeting where the Pittsburg EIFD Infrastructure Financing Plan (IFP) was presented for initial comments. The IFP provides a blueprint on district parameters and the types of projects the EIFD can fund. The PFA received the plan and provided feedback, which staff has considered and incorporated into a revised draft IFP. The next step in the formation process is to hold the first of two public hearings, with the purpose of the first public hearing to hear additional written and oral comments from the PFA and the public, and to take action to proceed with the EIFD formation process, or to modify or reject the IFP, if necessary.

CONFLICT OF INTEREST STATEMENT
City Council/Agency Members may make any conflict of interest declarations pertaining to Consent Calendar items at this time.
2 CONSENT CALENDAR

2. Minutes of January 21, 2025

ADJOURNMENT
3 NOTICE TO PUBLIC

GENERAL INFORMATION
Copies of the open session agenda packets, as distributed to the City Council, are on file in the office of the City Clerk, 65 Civic Avenue, Pittsburg, California, and are available for public inspection, beginning 72 hours in advance, during normal business hours (8:00 a.m. – 5:00 p.m., Monday through Friday, except City holidays). Full agenda packets are also located on the City’s website at www.pittsburgca.gov. If any reports or documents, which are public records, are distributed to the City Council less than 72 hours before the meeting, those reports or documents will be available for public inspection in the City Clerk’s Office and on the day of the meeting in the Council Chamber at the public counter area below the dais.

SPEAKER’S CARD
Members of the audience who wish to address the City Council on issues that are not scheduled for the agenda and on any items listed as part of the agenda should complete a Speaker’s Card available at the dais. Please read the card carefully in order to fill out the card properly. Submit the completed card to the City Clerk before the item is called, preferably before the meeting begins. Individuals will be given up to three minutes to address the Council unless additional time is allowed as provided for spokespersons. Speakers are not permitted to yield their time to another speaker. Prior to speaking, each member of the public shall state their name and business and City of residence in a clear and audible tone of voice. Pursuant to the Brown Act, no action may be taken by the City Council on items not already scheduled on the agenda; however, the City Council may refer your comments/concerns to staff or request that the item be placed on a future agenda.

PUBLIC HEARINGS
Persons who wish to speak on Public Hearings listed on the agenda will be heard when the Public Hearing is opened, except on Public Hearing items previously heard and closed to public comment. After the public has commented, the item is closed to public comment and brought to the Council/Agency level for discussion and action. Further comment from the audience will not be received unless requested by the Council/Agency.

There is a 90-day limit for the filing of a challenge in the Superior Court to certain City administrative decisions and orders which require a hearing by law, the receipt of evidence, and the exercise of discretion. The 90-day limit begins on the date the decision is final (Code of Civil Procedure Section 1094.6). Further, if you challenge an action taken by the City Council in court, you may be limited, by California law, including but not limited to Government Code Section 65009, to raising only those issues you or someone else raised in the public hearing, or in written correspondence delivered to the City Council prior to or at the public hearing. The City Council may be requested to reconsider a decision if the request is made prior to the next City Council meeting, regardless of whether it is a regular or special meeting.

NOTICE TO THE DISABLED AND VISUALLY OR HEARING IMPAIRED In compliance with the Americans with Disabilities Act, the City of Pittsburg will provide special assistance for disabled residents. Upon request, an agenda for any meeting shall be made available in appropriate alternative formats. The Council Chamber is equipped with sound amplifier units for use by the hearing impaired. The units operate in conjunction with the Chamber’s sound system. You may request the sound amplifier from the City Clerk for personal use during Council meetings. If you need special assistance to participate in this meeting, or are requesting a specially formatted agenda, please contact the City Clerk at (925) 252-4850. Notification 48 hours prior to the meeting will enable the City to make reasonable arrangements to ensure accessibility to this meeting or provide the requested agenda format. (28 CFR 35.102-35.104 ADA Title II)

DISRUPTIVE CONDUCT
The Council requests that you observe the order and decorum of our Council Chamber by turning off or setting to vibrate all cellular telephones and electronic devices, and that you refrain from making personal, impertinent, or slanderous remarks. Boisterous and disruptive behavior while the Council is in session, and the display of signs in a manner which violates the rights of others or prevents others from watching or fully participating in the Council meeting, is a violation of our Municipal Code and any person who engages in such conduct can be ordered to leave the Council Chamber by the Mayor.

LIVE MEDIA BROADCASTING ADVISEMENT
City Council meetings are webcast live on the City’s website at www.pittsburgca.gov on the Agendas and Live Meetings page. Past meetings and approved minutes are also archived on that webpage. Watch the live meeting via the City’s webcast (www.pittsburgca.gov - Agendas and Live Meetings), on Comcast Channel 24 Delta TV, AT&T U-Verse Channel 99 Delta TV. Contact the City Clerk’s office at (925) 252-4850 for more information 4 5

OFFICE OF THE CITY MANAGER/EXECUTIVE DIRECTOR
65 Civic Avenue
Pittsburg, CA 94565
TO: Chair and Governing Board Members of the Pittsburg Enhanced Infrastructure Financing District Public Financing Authority FROM: Garrett Evans, Executive Director
SUBJECT: First Public Hearing of the Pittsburg Enhanced Infrastructure Financing District Public Financing Authority to Hear Written and Oral Comments and Take Action to Modify or Reject Infrastructure Financing Plan, or Otherwise Proceed with EIFD Formation Proceedings
MEETING DATE: March 3, 2025

EXECUTIVE SUMMARY
The City of Pittsburg has commenced forming an Enhanced Infrastructure Financing District (EIFD) that can serve as a mechanism to finance critical public infrastructure to support economic development in the City of Pittsburg. On January 21st, 2025, the Pittsburg EIFD Public Financing Authority (PFA) held a duly noticed public meeting where the Pittsburg EIFD Infrastructure Financing Plan (IFP) was presented for initial comments. The IFP provides a blueprint on district parameters and the types of projects the EIFD can fund. The PFA received the plan and provided feedback, which staff has considered and incorporated into a revised draft IFP. The next step in the formation process is to hold the first of two public hearings, with the purpose of the first public hearing to hear additional written and oral comments from the PFA and the public, and to take action to proceed with the EIFD formation process, or to modify or reject the IFP, if necessary.

FISCAL IMPACT
There is no fiscal impact associated with this action.

RECOMMENDATION
Staff recommends the PFA open the public hearing, receive oral comments on the draft IFP, close the public hearing, and provide direction to proceed to the second and final public hearing.
6 BACKGROUND
On September 18th, 2023, the City Council adopted a Resolution of Intent (ROI) to form an EIFD. The adoption of this ROI formally kicked off the EIFD formation process. One of the first significant steps in forming an EIFD is to form a Public Financing Authority (PFA), whose role is to oversee the financing and activities conducted by the EIFD. The City Council approved of the structure of the PFA on October 16, 2023. Upon successful recruitment of the 5th PFA board member, the member of the public, the City reignited the EIFD formation process with the PFA holding a duly noticed initial public meeting on January 21st, 2025, where the draft IFP was presented for initial comments. The PFA provided feedback on the IFP which is reflected in the revised, red-lined version of this report.

SUBCOMMITTEE FINDINGS
This item was not presented to a subcommittee.

STAFF ANALYSIS
California Government Code Section 53398.66 outlines what this first hearing entails as part of the EIFD formation process. The purpose is to hold a public hearing to hear any written or oral comments or objections on the draft IFP and/or the EIFD in general. The PFA shall consider the recommendations, evidence, and testimony for and against the adoption of the IFP. The PFA may modify the plan by eliminating or reducing the size and cost of proposed facilities or development, by reducing the amount of proposed debt, or by reducing the portion, amount, or duration of incremental tax revenues to be committed by the City to the district. Staff will act upon such direction and provide edits as necessary.

Following this first public hearing, the PFA shall conduct a protest proceeding at the second public hearing to consider whether the landowners and residents within the EIFD area wish to present oral or written protests against the adoption of the IFP. Prior to that second hearing, affected tax entities (City of Pittsburg City Council) must adopt a resolution approving the plan, which is tentatively scheduled to occur prior to the second PFA public hearing.

ATTACHMENTS: DRAFT Infrastructure Financing Plan – Pittsburg EIFD Appendix A: Pittsburg EIFD Map
Appendix B: List of Pittsburg EIFD Parcels
Appendix C: Tax Increment Analysis
Appendix D: Fiscal Impact Analysis
Report Prepared By: Robert Hicks-Carrera, Economic Development Manager 7 CITY OF PITTSBURG ENHANCED

INFRASTRUCTURE FINANCING DISTRICT

INFRASTRUCTURE FINANCING PLAN

FEBRUARY SEPTEMBER 20254

Prepared By:

Prepared For:

City of
Pittsburg

8 Pittsburg EIFD Infrastructure Financing Plan September 2024February 2025

The analyses, projections, assumptions, rates of return, and any examples presented herein are for illustrative purposes and are not a guarantee of actual and/or future results. Projected pro forma and tax analyses are projections only. Actual; results may differ from those expressed in this analysis.

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Table of Contents

Section Page

1.0 Introduction .......................................................................................................................... 3

2.0 Goals of the District .............................................................................................................. 5

3.0 Description of the Proposed District ..................................................................................... 6

4.0 Description of Proposed Facilities and Development ........................................................... 7

5.0 Finding of Communitywide Significance ............................................................................ 10

6.0 Financing Section ............................................................................................................... 11

7.0 Removal of Dwelling Units and Replacement Housing Plan .............................................. 17

8.0 Appendices ........................................................................................................................ 18

Index of Appendices
Appendix A: Map of Boundaries of the Pittsburg EIFD
Appendix B:

Legal Description of the Pittsburg EIFD
Appendix C: Projected Tax Increment Revenue Analysis
Appendix D: Fiscal Impact Analysis

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1.0 Introduction

1.1 Background & Purpose
The proposed Pittsburg Enhanced Infrastructure Financing District (“Pittsburg EIFD” or “District”) will serve as a catalyst for private investment and critical regional infrastructure to support economic development in the City of Pittsburg (“City”) and the larger Contra Costa County (“County”) region. The Pittsburg EIFD encompasses approximately 4,467 acres of land, representing approximately 34% of the City in terms of acreage. As of Fiscal Year (FY) 2023, the Pittsburg EIFD includes approximately $698 million of existing assessed property value, representing approximately 8.6% of Citywide existing assessed value. The Pittsburg EIFD includes various development opportunity sites and areas within the City that stand to benefit from catalytic infrastructure improvements with communitywide and regional benefit.

1.2 Contents and Overview of this Infrastructure Financing Plan (“IFP”) The IFP contains all information required pursuant to Government Code Sections 53398.59 through 53398.74, including:
a) A map and legal description of the District. (Appendix A and Appendix B, respectively) b) A description of the public facilities and other forms of development or financial assistance that is proposed in the area of the District, including those to be provided by the private sector, those to be provided by governmental entities without assistance under this chapter, those public improvements and facilities to be financed with assistance from the proposed district, and those to be provided jointly. The description includes the proposed location, timing, and costs of the development and financial assistance. (Section 3) c) A finding that the development and financial assistance are of communitywide significance and provide significant benefits to an area larger than the area of the district. (Section 4)
d) A financing section (Section 5), which contains the following information:
i. A specification of the maximum portion of the incremental tax revenue of the City to be committed to the District for each year during which the District will receive incremental tax revenue.
ii. A projection of the amount of tax revenues expected to be received by the District in each year during which the District will receive tax revenues, including an estimate of the amount of tax revenues attributable to each affected taxing entity for each year. (Section 5.3 and Appendix C)
iii. A plan for financing the public facilities to be assisted by the D istrict, including a detailed description of any intention to incur debt.
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iv. A limit on the total number of dollars of taxes that may be allocated to the District pursuant to the plan.
v. A date on which the
District will cease to exist, by which time all tax allocation to the District will end. The District is divided into two Project Areas, for which revenues will tracked separately. The IFP will cease to be in effect for a given Project Area, all tax allocations to a given Project Area will end, and the District’s authority to repay indebtedness with incremental tax revenues from a given Project Area will end no later than 45 years from the date that Project Area has received one hundred thousand dollars ($100,000) in annual incremental tax revenues. In other words, each Project Area will have an independent, maximum 45-year duration that begins once the annual tax increment revenues from that Project Area reaches $100,000.
vi. An analysis of the costs to the City of providing facilities and services to the area of the District while the area is being developed and after the area is developed, as well as an analysis of the tax, fee, charge, and other revenues expected to be received by the City as a result of expected development in the area of the District. (Appendix D)
vii. An analysis of the projected fiscal impact of the district and the associated development upon each affected taxing entity. (Appendix D) viii. Pursuant to Section 65470, the PFA does not intend to finance any potential costs that may be incurred by reimbursing a developer of a project that is both located entirely within the boundaries of the District and qualifies for the Transit Priority Project Program.
e) The PFA does not antici pate that any housing units will be removed because of any project identified in this IFP. However, if any relocation of dwelling units is deemed to be required in the future for a project financed by the District, the PFA will comply with the requirements of Government Code Section 53398.56.
f) The goals the district proposes to achieve for each project financed pursuant to Section 53398.52. (Section 7)

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2.0 Goals of the District

The City of Pittsburg has long-standing and ongoing goals which prioritize the improvement of public facilities infrastructure; economic development through strategic partnerships; diversified housing; retention and growth of new businesses; and an improved quality of life for all Pittsburg residents. These goals are reflected through policies and implementation measures set forth within the City’s General Plan, Economic Development Strategic Plan, and Capital Improvement Program (CIP), as well as various other documents and projects processed by the City.

The intent of District implementation and of the public facilities outlined in Section 3.2 is to support the goals of the City. The District includes sites that are well -positioned to be catalyzed by infrastructure enhancements and public improvements. The City is steadfast in its belief that development and maintenance of high-quality infrastructure throughout the City will improve overall quality of life for residents by helping to ensure continued provision of critical utility services, expansion of job opportunities through enhanced development, and expansion of recreational and other public services.

The District will be utilized to address critical infrastructure funding, which is needed to catalyze private sector investment and development. The underlying objectives of the District include:
1) Economic development in the form of fiscal revenue generation for the City and other taxing entities;
2) Expansion of the service area of the City of Pittsburg’s municipal power utility, Pittsburg Power Company;
3) J ob creation;
4) Provision of new housing supply at multiple income levels ; 5) Enhancement of recreational opportunities; and
6) I mprovement of quality of life.

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3.0 Description of the Proposed
District

The Pittsburg EIFD encompasses approximately 4,279 acres of land, representing approximately

33.9% of the City’s approximately 12,614 total acres. Project Area #1, which includes the majority of the District, is comprised of approximately 3,456 acres. Project Area #2, which includes predominantly industrial uses in the northeast portion of the City, is comprised of approximately 1,011 acres.

As of FY 2022-2023, the Pittsburg EIFD includes approximately $698 million of existing assessed property value, representing approximately 8.6% of Citywide existing assessed value. The Pittsburg EIFD includes various development opportunity site areas within the City that stand to benefit from catalytic infrastructure improvements with communitywide and regional benefit.

Land use designations primarily include residential, industrial, business park, and commercial designations. Appendix A includes a map of the proposed District, and Appendix B is a legal description of the District.

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4.0 Description of Proposed Facilities
and Development

3.1 Anticipated Future Private Development
Anticipated future private development is summarized in Table 1 below, anticipated to occur across the various development opportunity site areas within the Pittsburg EIFD. Buildout and absorption of these land uses are forecasted in the first 20 years of the District lifetime.

Table 1: Anticipated Future Private Development
Development Type Square Feet (SF)
/ Units
Assessed Value (AV)
Per SF / Unit
Estimated AV at
Buildout (2023$)
For-Sale Residential 6,053 units $600,000 per unit $3,632,000,000 Rental Residential 2,310 units $325,000 per unit $751,000,000 Affordable Residential 1,476 units property tax exempt N/A Commercial 232,500 SF $350 PSF $81,000,000
Tech Park 3,000,000 SF $250 PSF $750,000,000
Industrial / Flex 4,024,000 SF $175 PSF $704,000,000
Hotel 370 rooms $250,000 per room $93,000,000
Estimated Total

$6,011,000,000

3.2 Public Facilities to be Financed with Assistance from the Pittsburg EIFD The PFA intends to utilize the District to contribute approximately $108 million in present-value dollars of funding to infrastructure projects of communitywide and regional significance over the District lifetime. This is equivalent to approximately $268 million in nominal dollars. Table 2 outlines an estimate of anticipated EIFD projects and budget allocations over the District’s lifetime.

It is not anticipated that EIFD will be the only funding source being allocated for these targeted projects.

Please note that the conceptual budget below provides a snapshot of current infrastructure needs and may be modified by City Council recommendations and approval by the PFA. Funds may be adjusted depending on future needs, project costs, and/or funding availability from other sources.

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Table 2: Potential Priority EIFD Projects
# PROJECT

ESTIMATED
COST /

ALLOCATION

ESTIMATED
TIMING
1 Marina Improvements (including sheds, docks,
dredging, etc.) $50.0 million
2025-2045

(to be revisited
annually by
PFA for
prioritization)
2 Waterfront Access and Security Improvements $50.0 million 3 Northeast Industrial Utility Service Upgrades $1520 .0 million 4 Pittsburg Premier Fields $40.0 million
5 Bliss Avenue Infrastructure Improvements $20.0 million 6 West Leland Road Waterline Service Upgrade $20.0 million 7 Range Road Overcrossing / Pedestrian Bridge $1420 .0 million 8 Pittsburg Power Company Transmission and
Distribution Infrastructure $50.0 million
9 Small World Theme Park Improvements $10.0 million
10 PG&E Substation Relocation and Corridor
Infrastructure $80.0 million
11 Skate Park at City Park City Park Improvements $10.0 million 12 Century Plaza Infrastructure Improvements $10.0 million 13 Buchanan Park Improvements $10.0 million
14 Delta De Anza Multi-Use Trail Improvements $40.0 million 15 Pittsburg BART Center Station Pedestrian Bridge $15.0 million Estimated Total Capital Costs / Budget Allocation $365.0 million (present-value dollars)
Maintenance – Residential lighting, landscaping,
streets, parks, medians $2.0 million annually
Maintenance – Marina Operations, Waterfront
Improvements, Other $1.0 million annually
Administration (increases as increment builds and
projects are funded)
$25,000 –
$1.0 million annually
Estimated Total Maintenance Costs / Budget
Allocation $4.0 million annually

Additional expenditures by the EIFD, including any use of potential future EIFD bond or loan proceeds, will be subject to City Council recommendations and approval by the PFA. Targeted improvements would conform to established guidelines in then-existing, adopted planning documentation, such as the City General Plan. Eligible expenditures in accordance with Government Code section 53398.52 include the purchase, construction, expansion, 15 Pittsburg EIFD Infrastructure Financing Plan September 2024February 2025

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improvement, seismic retrofit, or rehabilitation of any real or other tangible property with an estimated useful life of 15 years or longer, including the ongoing or capitalized costs to maintain public capital facilities financed in whole or in part by the EIFD . The EIFD may finance planning and design activities that are directly related to the purchase, construction, expansion, seismic retrofit, maintenance, or rehabilitation of these projects. Example projects may include, but not be limited to, the following:

a) Facilities for the collection and treatment of water for urban uses (incl. desalination); b) Parks, recreational facilities, and open space;
c) The acquisition, construction, or improvement of broadband Internet access service; a)d) Highways, interchanges, ramps and bridges, arterial streets, parking facilities, and transit facilities;
e) Libraries, cChild care facilities, libraries, and other government facilities; b)f) Sewage treatment and water reclamation plants and interceptor pipes; c)a) Facilities for the collection and treatment of water for urban uses; d)g) Flood control levees and dams, retention basins, and drainage channels; e)a) Childcare facilities, libraries, and other government facilities; f)a) Parks, recreational facilities, and open space;
g)h) Facilities for the transfer and disposal of solid waste, including transfer stations and vehicles;
h)i) Brownfield restoration and other environmental mitigation; i)j) The acquisition, construction, or rehabilitation of housing for persons of very low, low, and moderate income, as defined in Sections 50105 and 50093 of the Health and Safety Code, for rent or purchase;
j)k) Projects that enable communities to adapt to the impacts of climate change, including, but not limited to, higher average temperatures, decreased air and water quality, the spread of infectious and vector -borne diseases, other public health impacts, extreme weather events, sea level rise, flooding, heat waves, wildfires, and drought; k)a) The ac quisition, construction, or improvement of broadband Internet access service;
l) Acquisition, construction, or repair of commercial structures by the small business occupant of such structures, if such acquisition, construction, or repair is for purposes of fostering economic recovery from the COVID-19 pandemic and of ensuring the long-term economic sustainability of small businesses; or
m) Facilities in which nonprofit community organizations provide health, youth, homeless, and social services.

The PFA intends to continue to identify, evaluate, and pursue additional funding sources and financing mechanisms aside from District tax increment to implement the improvements identified above, potentially including grant sources, impact fees, private sector investment incentivized by the formation of the EIFD itself, and/or other sources.

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Private sector developers will be responsible for funding project-specific/fair -share/in-tract infrastructure, unless otherwise outlined in this IFP. Some public facilities included in the EIFD area are anticipated to be provided by governmental entities without assistance from the District, such as facilities within the City’s Capital Improvement Program (CIP) funded from other sources such as impact fees. There are no public facilities anticipated to be provided jointly by the private sector and governmental entities, however it is possible that private sector developers may advance funding for improvements such as brownfield site remediation, with anticipation to be partially reimbursed with EIFD proceeds. Such case-specific agreements would come before the PFA for approval at the appropriate time.
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5.0 Finding of Communitywide
Significance

Implementation of the District promotes the goals of the City’s General Plan by including sites that are well-positioned to be catalyzed by infrastructure enhancements and public improvements.

Implementation of the District additionally supports numerous economic development objectives, including job creation, workforce development, affordable housing, homeless prevention, and improvement of quality of life.

Specific communitywide and regionally significant benefits anticipated to be generated by the District include:

• Approximately $120 million in net fiscal surplus to the City over 50 years (on a present- value basis).
• Over 9,800 planned housing units within the District, including housing at multiple income levels.
• Employment:
- Over 45,800 direct, indirect, and induced temporary, construction-related jobs1 in the City and County;
- Over 7,580 direct, permanent jobs in the City; and
- Over 2,680 additional indirect and induced permanent jobs in the City and County; (total of over 10,270 direct, indirect, and induced permanent jobs). • Labor Income / Wages:
- Approx. $4.17 billion in wages from temporary construction in the City and County; and
- Approx. $704 million in annual wages from operation in the City and County. • Economic Output:
- Approx. $8.21 billion in economic output from construction in the City and County; and
- Approx. $1.23 billion in annual ongoing economic output in the City and County.

1 Construction-related job -years, where one job -year is defined as one year of employment for one employee.
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6.0 Financing Section

The Pittsburg EIFD will be funded by property tax increment from the City as a taxing entity. No other taxing entity is contributing property tax increment to the District. It is anticipated that property tax increment will be utilized on both a “pay -as-you-go” (or “pay-go”) basis as well as security for tax increment bond issuance or loan acquisition.

Portions of the Pittsburg EIFD overlap with former Pittsburg RDA project area boundaries.

Accordingly, property tax from overlapping areas will be subordinate to any outstanding Recognized Obligation Payment Schedule (ROPS) obligations until the Successor Agency is dissolved. Residual revenues to taxing entities such as the City from the Redevelopment Property Tax Trust Fund (RPTTF) will still be available to the EIFD on an annual basis, after the then- current period ROPS payments are paid.

5.1 Maximum Portion of Incremental Tax Revenue Dedicated to the District The maximum portion of the City’s property tax increment to be committed to the District will be 25% throughout the District lifetime in both Project Areas.

5.2 Projection of District Tax Revenues by Year
Table 3 provides an overview of the projected growth of assessed value, property tax increment, and City contributions to the District over the District lifetime for each Project Area. It is estimated that a total of approximately $225 million of incremental tax revenues will be allocated to the District by the City.

These projections are based on research and analysis of available data at the time of IFP preparation for purposes of illustration. Actual results may differ from those expressed in this document. Appendix C provides additional detail for the projected revenue analysis.

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Table 3: Projection of District Revenues by Year – Project Area #1

Incremental
Assessed Value
Property Tax
Increment @
1% General
Levy
Average City
Share
Available
Increment
Available
Portion of
Share
Allocated
Increment
Allocated to
EIFD
Avg Equiv.

Share of
MVLF
Available
Increment
Available
Portion of
Share
Allocated
Increment
Allocated
Total Taxes
Allocated to
EIFD
0 2025 / 2026 $0 $0 15.3% $0 25% $0 6.6% $0 25% $0 $0
1 2026 / 2027 $277,499,860 $2,774,999 15.3% $425,480 25% $106,370 6.6% $183,848 25% $45,962 $152,332 2 2027 / 2028 $599,137,042 $5,991,370 15.3% $918,634 25% $229,658 6.6% $396,937 25% $99,234 $328,893 3 2028 / 2029 $920,414,103 $9,204,141 15.3% $1,411,236 25% $352,809 6.6% $609,788 25% $152,447 $505,256 4 2029 / 2030 $1,232,923,615 $12,329,236 15.3% $1,890,395 25% $472,599 6.6% $816,830 25% $204,208 $676,806 5 2030 / 2031 $1,592,632,496 $15,926,325 15.3% $2,441,922 25% $610,481 6.6% $1,055,142 25% $263,786 $874,266 6 2031 / 2032 $1,930,214,714 $19,302,147 15.3% $2,959,524 25% $739,881 6.6% $1,278,796 25% $319,699 $1,059,580 7 2032 / 2033 $2,280,537,745 $22,805,377 15.3% $3,496,661 25% $874,165 6.6% $1,510,890 25% $377,722 $1,251,888 8 2033 / 2034 $2,679,828,967 $26,798,290 15.3% $4,108,879 25% $1,027,220 6.6% $1,775,426 25% $443,857 $1,471,076 9 2034 / 2035 $3,057,484,369 $30,574,844 15.3% $4,687,924 25% $1,171,981 6.6% $2,025,628 25% $506,407 $1,678,388 10 2035 / 2036 $3,449,048,633 $34,490,486 15.3% $5,288,294 25% $1,322,074 6.6% $2,285,045 25% $571,261 $1,893,335 11 2036 / 2037 $3,854,927,052 $38,549,271 15.3% $5,910,612 25% $1,477,653 6.6% $2,553,946 25% $638,486 $2,116,139 12 2037 / 2038 $4,275,535,566 $42,755,356 15.3% $6,555,515 25% $1,638,879 6.6% $2,832,605 25% $708,151 $2,347,030 13 2038 / 2039 $4,711,301,029 $47,113,010 15.3% $7,223,657 25% $1,805,914 6.6% $3,121,306 25% $780,327 $2,586,241 14 2039 / 2040 $5,162,661,474 $51,626,615 15.3% $7,915,711 25% $1,978,928 6.6% $3,420,339 25% $855,085 $2,834,013 15 2040 / 2041 $5,630,066,394 $56,300,664 15.3% $8,632,365 25% $2,158,091 6.6% $3,730,002 25% $932,500 $3,090,592 16 2041 / 2042 $6,113,977,025 $61,139,770 15.3% $9,374,327 25% $2,343,582 6.6% $4,050,600 25% $1,012,650 $3,356,232 17 2042 / 2043 $6,614,866,633 $66,148,666 15.3% $10,142,322 25% $2,535,580 6.6% $4,382,446 25% $1,095,612 $3,631,192 18 2043 / 2044 $7,133,220,812 $71,332,208 15.3% $10,937,094 25% $2,734,274 6.6% $4,725,864 25% $1,181,466 $3,915,739 19 2044 / 2045 $7,669,537,791 $76,695,378 15.3% $11,759,409 25% $2,939,852 6.6% $5,081,182 25% $1,270,295 $4,210,148 20 2045 / 2046 $8,224,328,738 $82,243,287 15.3% $12,610,048 25% $3,152,512 6.6% $5,448,739 25% $1,362,185 $4,514,697 21 2046 / 2047 $8,395,086,403 $83,950,864 15.3% $12,871,864 25% $3,217,966 6.6% $5,561,868 25% $1,390,467 $4,608,433 22 2047 / 2048 $8,569,259,222 $85,692,592 15.3% $13,138,917 25% $3,284,729 6.6% $5,677,260 25% $1,419,315 $4,704,044 23 2048 / 2049 $8,746,915,498 $87,469,155 15.3% $13,411,310 25% $3,352,828 6.6% $5,794,960 25% $1,448,740 $4,801,568 24 2049 / 2050 $8,928,124,898 $89,281,249 15.3% $13,689,152 25% $3,422,288 6.6% $5,915,014 25% $1,478,754 $4,901,041 25 2050 / 2051 $9,112,958,487 $91,129,585 15.3% $13,972,550 25% $3,493,138 6.6% $6,037,469 25% $1,509,367 $5,002,505 26 2051 / 2052 $9,301,488,748 $93,014,887 15.3% $14,261,616 25% $3,565,404 6.6% $6,162,373 25% $1,540,593 $5,105,997 27 2052 / 2053 $9,493,789,614 $94,937,896 15.3% $14,556,464 25% $3,639,116 6.6% $6,289,775 25% $1,572,444 $5,211,560 28 2053 / 2054 $9,689,936,497 $96,899,365 15.3% $14,857,208 25% $3,714,302 6. 6% $6,419,725 25% $1,604,931 $5,319,233 29 2054 / 2055 $9,890,006,318 $98,900,063 15.3% $15,163,968 25% $3,790,992 6.6% $6,552,275 25% $1,638,069 $5,429,061 30 2055 / 2056 $10,094,077,535 $100,940,775 15.3% $15,476,862 25% $3,869,216 6.6% $6,687,475 25% $1,671,869 $5,541,084 31 2056 / 2057 $10,302,230,177 $103,022,302 15.3% $15,796,015 25% $3,949,004 6.6% $6,825,379 25% $1,706,345 $5,655,348 32 2057 / 2058 $10,514,545,871 $105,145,459 15.3% $16,121,550 25% $4,030,388 6.6% $6,966,041 25% $1,741,510 $5,771,898 33 2058 / 2059 $10,731,107,879 $107,311,079 15.3% $16,453,597 25% $4,113,399 6.6% $7,109,517 25% $1,777,379 $5,890,778 34 2059 / 2060 $10,952,001,128 $109,520,011 15.3% $16,792,284 25% $4,198,071 6.6% $7,255,862 25% $1,813,965 $6,012,036 35 2060 / 2061 $11,177,312,241 $111,773,122 15.3% $17,137,745 25% $4,284,436 6.6% $7,405,134 25% $1,851,283 $6,135,720 36 2061 / 2062 $11,407,129,577 $114,071,296 15.3% $17,490,115 25% $4,372,529 6.6% $7,557,391 25% $1,889,348 $6,261,876 37 2062 / 2063 $11,641,543,259 $116,415,433 15.3% $17,849,532 25% $4,462,383 6.6% $7,712,694 25% $1,928,173 $6,390,556 38 2063 / 2064 $11,880,645,215 $118,806,452 15.3% $18,216,138 25% $4,554,035 6.6% $7,871,102 25% $1,967,776 $6,521,810 39 2064 / 2065 $12,124,529,211 $121,245,292 15.3% $18,590,076 25% $4,647,519 6.6% $8,032,679 25% $2,008,170 $6,655,689 40 2065 / 2066 $12,373,290,886 $123,732,909 15.3% $18,971,493 25% $4,742,873 6.6% $8,197,487 25% $2,049,372 $6,792,245 41 2066 / 2067 $12,627,027,794 $126,270,278 15.3% $19,360,538 25% $4,840,135 6.6% $8,365,592 25% $2,091,398 $6,931,532 42 2067 / 2068 $12,885,839,441 $128,858,394 15.3% $19,757,364 25% $4,939,341 6.6% $8,537,058 25% $2,134,265 $7,073,606 43 2068 / 2069 $13,149,827,321 $131,498,273 15.3% $20,162,127 25% $5,040,532 6.6% $8,711,954 25% $2,177,988 $7,218,520 44 2069 / 2070 $13,419,094,958 $134,190,950 15.3% $20,574,984 25% $5,143,746 6.6% $8,890,348 25% $2,222,587 $7,366,333 45 2070 / 2071 $13,693,747,948 $136,937,479 15.3% $20,996,099 25% $5,249,025 6.6% $9,072,309 25% $2,268,077 $7,517,102 46 2071 / 2072 $13,973,893,998 $139,738,940 15.3% $21,425,636 0% $0 6.6% $9,257,910 0% $0 $0 47 2072 / 2073 $14,259,642,969 $142,596,430 15.3% $21,863,764 0% $0 6.6% $9,447,223 0% $0 $0 48 2073 / 2074 $14,551,106,919 $145,511,069 15.3% $22,310,655 0% $0 6.6% $9,640,322 0% $0 $0 49 2074 / 2075 $14,848,400,148 $148,484,001 15.3% $22,766,483 0% $0 6.6% $9,837,283 0% $0 $0 50 2075 / 2076 $15,151,639,242 $151,516,392 15.3% $23,231,428 0% $0 6.6% $10,038,184 0% $0 $0 $645,957,546 21% $133,589,895 $279,115,023 21% $57,723,525 $191,313,420 @ 3.0% $261,476,463 22% $58,619,647 $112,982,671 22% $25,329,256 $83,948,903 City Allocation of AB8 Property Tax City Allocation of Property Tax in-lieu of MVLF Fiscal Year
Total
Present Value
20 Pittsburg EIFD Infrastructure Financing Plan September 2024February 2025

Page 14 ends

Table 4: Projection of District Revenues by Year – Project Area #2

Incremental
Assessed Value
Property Tax
Increment @
1% General
Levy
Average City
Share
Available
Increment
Available
Portion of
Share
Allocated
Increment
Allocated to
EIFD
Avg Equiv.

Share of
MVLF
Available
Increment
Available
Portion of
Share
Allocated
Increment
Allocated
Total Taxes
Allocated to
EIFD
0 2025 / 2026 $0 $0 15.3% $0 25% $0 6.6% $0 25% $0 $0
1 2026 / 2027 $43,355,689 $433,557 15.3% $66,476 25% $16,619 6.6% $28,724 25% $7,181 $23,800 2 2027 / 2028 $88,291,167 $882,912 15.3% $135,373 25% $33,843 6.6% $58,494 25% $14,624 $48,467 3 2028 / 2029 $134,852,281 $1,348,523 15.3% $206,764 25% $51,691 6.6% $89,342 25% $22,335 $74,026 4 2029 / 2030 $183,086,083 $1,830,861 15.3% $280,719 25% $70,180 6.6% $121,297 25% $30,324 $100,504 5 2030 / 2031 $233,040,857 $2,330,409 15.3% $357,313 25% $89,328 6.6% $154,393 25% $38,598 $127,926 6 2031 / 2032 $284,766,148 $2,847,661 15.3% $436,621 25% $109,155 6.6% $188,662 25% $47,165 $156,321 7 2032 / 2033 $338,312,794 $3,383,128 15.3% $518,722 25% $129,681 6.6% $224,137 25% $56,034 $185,715 8 2033 / 2034 $393,732,960 $3,937,330 15.3% $603,696 25% $150,924 6.6% $260,854 25% $65,213 $216,137 9 2034 / 2035 $451,080,167 $4,510,802 15.3% $691,624 25% $172,906 6.6% $298,847 25% $74,712 $247,618 10 2035 / 2036 $510,409,330 $5,104,093 15.3% $782,591 25% $195,648 6.6% $338,154 25% $84,538 $280,186 11 2036 / 2037 $571,776,788 $5,717,768 15.3% $876,683 25% $219,171 6.6% $378,811 25% $94,703 $313,873 12 2037 / 2038 $635,240,340 $6,352,403 15.3% $973,990 25% $243,497 6.6% $420,856 25% $105,214 $348,711 13 2038 / 2039 $700,859,284 $7,008,593 15.3% $1,074,601 25% $268,650 6.6% $464,330 25% $116,082 $384,733 14 2039 / 2040 $768,694,449 $7,686,944 15.3% $1,178,610 25% $294,652 6.6% $509,271 25% $127,318 $421,970 15 2040 / 2041 $838,808,238 $8,388,082 15.3% $1,286,113 25% $321,528 6.6% $555,723 25% $138,931 $460,459 16 2041 / 2042 $911,264,661 $9,112,647 15.3% $1,397,207 25% $349,302 6.6% $603,726 25% $150,932 $500,233 17 2042 / 2043 $986,129,377 $9,861,294 15.3% $1,511,994 25% $377,999 6.6% $653,325 25% $163,331 $541,330 18 2043 / 2044 $1,063,469,737 $10,634,697 15.3% $1,630,577 25% $407,644 6.6% $704,564 25% $176,141 $583,785 19 2044 / 2045 $1,143,354,820 $11,433,548 15.3% $1,753,062 25% $438,266 6.6% $757,489 25% $189,372 $627,638 20 2045 / 2046 $1,225,855,478 $12,258,555 15.3% $1,879,557 25% $469,889 6.6% $812,147 25% $203,037 $672,926 21 2046 / 2047 $1,258,094,577 $12,580,946 15.3% $1,928,988 25% $482,247 6.6% $833,506 25% $208,377 $690,624 22 2047 / 2048 $1,290,978,457 $12,909,785 15.3% $1,979,408 25% $494,852 6.6% $855,292 25% $213,823 $708,675 23 2048 / 2049 $1,324,520,016 $13,245,200 15.3% $2,030,836 25% $507,709 6.6% $877,514 25% $219,378 $727,087 24 2049 / 2050 $1,358,732,406 $13,587,324 15.3% $2,083,292 25% $520,823 6.6% $900,180 25% $225,045 $745,868 25 2050 / 2051 $1,393,629,043 $13,936,290 15.3% $2,136,798 25% $534,200 6.6% $923,300 25% $230,825 $765,024 26 2051 / 2052 $1,429,223,614 $14,292,236 15.3% $2,191,374 25% $547,843 6.6% $946,882 25% $236,720 $784,564 27 2052 / 2053 $1,465,530,075 $14,655,301 15.3% $2,247,041 25% $561,760 6.6% $970,935 25% $242,734 $804,494 28 2053 / 2054 $1,502,562,666 $15,025,627 15.3% $2,303,822 25% $575,955 6. 6% $995,470 25% $248,867 $824,823 29 2054 / 2055 $1,540,335,909 $15,403,359 15.3% $2,361,738 25% $590,435 6.6% $1,020,495 25% $255,124 $845,558 30 2055 / 2056 $1,578,864,616 $15,788,646 15.3% $2,420,813 25% $605,203 6.6% $1,046,021 25% $261,505 $866,708 31 2056 / 2057 $1,618,163,898 $16,181,639 15.3% $2,481,069 25% $620,267 6.6% $1,072,057 25% $268,014 $888,282 32 2057 / 2058 $1,658,249,166 $16,582,492 15.3% $2,542,530 25% $635,632 6.6% $1,098,614 25% $274,654 $910,286 33 2058 / 2059 $1,699,136,138 $16,991,361 15.3% $2,605,220 25% $651,305 6.6% $1,125,703 25% $281,426 $932,731 34 2059 / 2060 $1,740,840,850 $17,408,409 15.3% $2,669,165 25% $667,291 6.6% $1,153,333 25% $288,333 $955,624 35 2060 / 2061 $1,783,379,657 $17,833,797 15.3% $2,734,388 25% $683,597 6.6% $1,181,515 25% $295,379 $978,976 36 2061 / 2062 $1,826,769,239 $18,267,692 15.3% $2,800,915 25% $700,229 6.6% $1,210,261 25% $302,565 $1,002,794 37 2062 / 2063 $1,871,026,614 $18,710,266 15.3% $2,868,773 25% $717,193 6.6% $1,239,583 25% $309,896 $1,027,089 38 2063 / 2064 $1,916,169,135 $19,161,691 15.3% $2,937,989 25% $734,497 6.6% $1,269,490 25% $317,373 $1,051,870 39 2064 / 2065 $1,962,214,507 $19,622,145 15.3% $3,008,588 25% $752,147 6.6% $1,299,996 25% $324,999 $1,077,146 40 2065 / 2066 $2,009,180,787 $20,091,808 15.3% $3,080,600 25% $770,150 6.6% $1,331,112 25% $332,778 $1,102,928 41 2066 / 2067 $2,057,086,392 $20,570,864 15.3% $3,154,052 25% $788,513 6.6% $1,362,850 25% $340,712 $1,129,225 42 2067 / 2068 $2,105,950,109 $21,059,501 15.3% $3,228,973 25% $807,243 6.6% $1,395,223 25% $348,806 $1,156,049 43 2068 / 2069 $2,155,791,101 $21,557,911 15.3% $3,305,392 25% $826,348 6.6% $1,428,243 25% $357,061 $1,183,409 44 2069 / 2070 $2,206,628,912 $22,066,289 15.3% $3,383,340 25% $845,835 6.6% $1,461,924 25% $365,481 $1,211,316 45 2070 / 2071 $2,258,483,480 $22,584,835 15.3% $3,462,846 25% $865,712 6.6% $1,496,279 25% $374,070 $1,239,781 46 2071 / 2072 $2,311,375,139 $23,113,751 15.3% $3,543,943 25% $885,986 6.6% $1,531,320 25% $382,830 $1,268,816 47 2072 / 2073 $2,365,324,631 $23,653,246 15.3% $3,626,662 25% $906,665 6.6% $1,567,062 25% $391,766 $1,298,431 48 2073 / 2074 $2,420,353,113 $24,203,531 15.3% $3,711,035 25% $927,759 6.6% $1,603,520 25% $400,880 $1,328,639 49 2074 / 2075 $2,476,482,165 $24,764,822 15.3% $3,797,095 0% $0 6.6% $1,640,706 0% $0 $0 50 2075 / 2076 $2,533,733,797 $25,337,338 15.3% $3,884,877 0% $0 6.6% $1,678,636 0% $0 $0 $102,153,853 23% $23,617,970 $44,140,169 23% $10,205,207 $33,823,177 @ 3.0% $40,745,115 24% $9,741,705 $17,605,760 24% $4,209,342 $13,951,046 City Allocation of AB8 Property Tax City Allocation of Property Tax in-lieu of MVLF Fiscal Year
Total
Present Value
21 Pittsburg EIFD Infrastructure Financing Plan September 2024February 2025

Page 15 ends

Table 5: Projection of District Revenues by Year – Total EIFD (Both Project Areas Combined)

Incremental
Assessed Value
Property Tax
Increment @
1% General
Levy
Average City
Share
Available
Increment
Available
Portion of
Share
Allocated
Increment
Allocated to
EIFD
Avg Equiv.

Share of
MVLF
Available
Increment
Available
Portion of
Share
Allocated
Increment
Allocated
Total Taxes
Allocated to
EIFD
0 2025 / 2026 $0 $0 15.3% $0 25% $0 6.6% $0 25% $0 $0
1 2026 / 2027 $320,855,549 $3,208,555 15.3% $491,956 25% $122,989 6.6% $212,572 25% $53,143 $176,132 2 2027 / 2028 $687,428,208 $6,874,282 15.3% $1,054,007 25% $263,502 6.6% $455,431 25% $113,858 $377,360 3 2028 / 2029 $1,055,266,384 $10,552,664 15.3% $1,618,000 25% $404,500 6.6% $699,129 25% $174,782 $579,282 4 2029 / 2030 $1,416,009,699 $14,160,097 15.3% $2,171,113 25% $542,778 6.6% $938,127 25% $234,532 $777,310 5 2030 / 2031 $1,825,673,353 $18,256,734 15.3% $2,799,235 25% $699,809 6.6% $1,209,535 25% $302,384 $1,002,193 6 2031 / 2032 $2,214,980,862 $22,149,809 15.3% $3,396,145 25% $849,036 6.6% $1,467,457 25% $366,864 $1,215,901 7 2032 / 2033 $2,618,850,539 $26,188,505 15.3% $4,015,383 25% $1,003,846 6.6% $1,735,027 25% $433,757 $1,437,603 8 2033 / 2034 $3,073,561,927 $30,735,619 15.3% $4,712,575 25% $1,178,144 6.6% $2,036,280 25% $509,070 $1,687,214 9 2034 / 2035 $3,508,564,536 $35,085,645 15.3% $5,379,548 25% $1,344,887 6.6% $2,324,476 25% $581,119 $1,926,006 10 2035 / 2036 $3,959,457,963 $39,594,580 15.3% $6,070,885 25% $1,517,721 6.6% $2,623,199 25% $655,800 $2,173,521 11 2036 / 2037 $4,426,703,839 $44,267,038 15.3% $6,787,295 25% $1,696,824 6.6% $2,932,756 25% $733,189 $2,430,013 12 2037 / 2038 $4,910,775,906 $49,107,759 15.3% $7,529,505 25% $1,882,376 6.6% $3,253,461 25% $813,365 $2,695,741 13 2038 / 2039 $5,412,160,312 $54,121,603 15.3% $8,298,258 25% $2,074,565 6.6% $3,585,636 25% $896,409 $2,970,973 14 2039 / 2040 $5,931,355,923 $59,313,559 15.3% $9,094,321 25% $2,273,580 6.6% $3,929,611 25% $982,403 $3,255,983 15 2040 / 2041 $6,468,874,632 $64,688,746 15.3% $9,918,478 25% $2,479,619 6.6% $4,285,725 25% $1,071,431 $3,551,051 16 2041 / 2042 $7,025,241,686 $70,252,417 15.3% $10,771,534 25% $2,692,883 6.6% $4,654,326 25% $1,163,581 $3,856,465 17 2042 / 2043 $7,600,996,010 $76,009,960 15.3% $11,654,316 25% $2,913,579 6.6% $5,035,772 25% $1,258,943 $4,172,522 18 2043 / 2044 $8,196,690,549 $81,966,905 15.3% $12,567,672 25% $3,141,918 6.6% $5,430,428 25% $1,357,607 $4,499,525 19 2044 / 2045 $8,812,892,610 $88,128,926 15.3% $13,512,471 25% $3,378,118 6.6% $5,838,671 25% $1,459,668 $4,837,785 20 2045 / 2046 $9,450,184,215 $94,501,842 15.3% $14,489,605 25% $3,622,401 6.6% $6,260,886 25% $1,565,222 $5,187,623 21 2046 / 2047 $9,653,180,980 $96,531,810 15.3% $14,800,853 25% $3,700,213 6.6% $6,395,374 25% $1,598,844 $5,299,057 22 2047 / 2048 $9,860,237,680 $98,602,377 15.3% $15,118,325 25% $3,779,581 6.6% $6,532,552 25% $1,633,138 $5,412,719 23 2048 / 2049 $10,071,435,514 $100,714,355 15.3% $15,442,146 25% $3,860,537 6.6% $6,672,474 25% $1,668,119 $5,528,655 24 2049 / 2050 $10,286,857,304 $102,868,573 15.3% $15,772,444 25% $3,943,111 6.6% $6,815,194 25% $1,703,799 $5,646,910 25 2050 / 2051 $10,506,587,531 $105,065,875 15.3% $16,109,348 25% $4,027,337 6.6% $6,960,769 25% $1,740,192 $5,767,529 26 2051 / 2052 $10,730,712,361 $107,307,124 15.3% $16,452,990 25% $4,113,248 6.6% $7,109,255 25% $1,777,314 $5,890,561 27 2052 / 2053 $10,959,319,689 $109,593,197 15.3% $16,803,505 25% $4,200,876 6.6% $7,260,710 25% $1,815,178 $6,016,054 28 2053 / 2054 $11,192,499,163 $111,924,992 15.3% $17,161,030 25% $4,290,258 6. 6% $7,415,195 25% $1,853,799 $6,144,056 29 2054 / 2055 $11,430,342,227 $114,303,422 15.3% $17,525,706 25% $4,381,426 6.6% $7,572,770 25% $1,893,192 $6,274,619 30 2055 / 2056 $11,672,942,151 $116,729,422 15.3% $17,897,675 25% $4,474,419 6.6% $7,733,496 25% $1,933,374 $6,407,793 31 2056 / 2057 $11,920,394,075 $119,203,941 15.3% $18,277,084 25% $4,569,271 6.6% $7,897,436 25% $1,974,359 $6,543,630 32 2057 / 2058 $12,172,795,036 $121,727,950 15.3% $18,664,080 25% $4,666,020 6.6% $8,064,656 25% $2,016,164 $6,682,184 33 2058 / 2059 $12,430,244,017 $124,302,440 15.3% $19,058,817 25% $4,764,704 6.6% $8,235,219 25% $2,058,805 $6,823,509 34 2059 / 2060 $12,692,841,978 $126,928,420 15.3% $19,461,448 25% $4,865,362 6.6% $8,409,194 25% $2,102,299 $6,967,661 35 2060 / 2061 $12,960,691,898 $129,606,919 15.3% $19,872,132 25% $4,968,033 6.6% $8,586,649 25% $2,146,662 $7,114,695 36 2061 / 2062 $13,233,898,816 $132,338,988 15.3% $20,291,030 25% $5,072,758 6.6% $8,767,653 25% $2,191,913 $7,264,671 37 2062 / 2063 $13,512,569,873 $135,125,699 15.3% $20,718,306 25% $5,179,576 6.6% $8,952,276 25% $2,238,069 $7,417,646 38 2063 / 2064 $13,796,814,350 $137,968,144 15.3% $21,154,127 25% $5,288,532 6.6% $9,140,592 25% $2,285,148 $7,573,680 39 2064 / 2065 $14,086,743,718 $140,867,437 15.3% $21,598,665 25% $5,399,666 6.6% $9,332,675 25% $2,333,169 $7,732,835 40 2065 / 2066 $14,382,471,672 $143,824,717 15.3% $22,052,093 25% $5,513,023 6.6% $9,528,599 25% $2,382,150 $7,895,173 41 2066 / 2067 $14,684,114,186 $146,841,142 15.3% $22,514,590 25% $5,628,647 6.6% $9,728,442 25% $2,432,110 $8,060,758 42 2067 / 2068 $14,991,789,550 $149,917,896 15.3% $22,986,337 25% $5,746,584 6.6% $9,932,281 25% $2,483,070 $8,229,654 43 2068 / 2069 $15,305,618,421 $153,056,184 15.3% $23,467,518 25% $5,866,880 6.6% $10,140,197 25% $2,535,049 $8,401,929 44 2069 / 2070 $15,625,723,870 $156,257,239 15.3% $23,958,324 25% $5,989,581 6.6% $10,352,272 25% $2,588,068 $8,577,649 45 2070 / 2071 $15,952,231,428 $159,522,314 15.3% $24,458,945 25% $6,114,736 6.6% $10,568,588 25% $2,642,147 $8,756,883 46 2071 / 2072 $16,285,269,137 $162,852,691 15.3% $24,969,579 4% $885,986 6.6% $10,789,230 4% $382,830 $1,268,816 47 2072 / 2073 $16,624,967,600 $166,249,676 15.3% $25,490,426 4% $906,665 6.6% $11,014,286 4% $391,766 $1,298,431 48 2073 / 2074 $16,971,460,032 $169,714,600 15.3% $26,021,690 4% $927,759 6.6% $11,243,842 4% $400,880 $1,328,639 49 2074 / 2075 $17,324,882,313 $173,248,823 15.3% $26,563,578 0% $0 6.6% $11,477,989 0% $0 $0 50 2075 / 2076 $17,685,373,039 $176,853,730 15.3% $27,116,305 0% $0 6.6% $11,716,820 0% $0 $0 $748,111,399 21% $157,207,865 $323,255,192 21% $67,928,732 $225,136,597 @ 3.0% $302,221,578 23% $68,361,352 $130,588,432 23% $29,538,598 $97,899,950 City Allocation of AB8 Property Tax City Allocation of Property Tax in-lieu of MVLF Fiscal Year
Total
Present Value
22 Pittsburg EIFD Infrastructure Financing Plan December 2023February 2025

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5.3 Plan for Financing Public Facilities
The PFA intends to utilize numerous funding sources and financing mechanisms to implement the projects identified in Section 3.2,
potentially including District tax increment, grant sources, impact fees, private sector investment, and/or other sources.

As it pertains to the use of District tax increment, the PFA intends to incur debt only when it is financially prudent to do so. It is estimated at this time that approximately $108 million of EIFD funding (in present-value dollars) will be made available through bond or loan proceeds and pay- as-you-go proceeds over the District lifetime. It may be the case that multiple debt issuances will be necessary to achieve the targeted funding capacity.

5.4 Limit on Total Dollars Allocated to the District
The total number of dollars or taxes that may be allocated to the District shall not exceed $400,000,000 (nominal dollars) across both Project Areas.

The limit on the total number of dollars that the City will contribute to the EIFD shall be defined as the annual amount of the City contributions that are needed to pay bond payments, or otherwise fund the approved list of infrastructure and other projects and expenses of the District, with an estimated cost of approximately $108 million (in present-value dollars) over the entire District lifetime. The infrastructure and other projects shall be considered fully funded when all projects have been financed by bonds, excess tax increment, or other funds. In the following fiscal year after the projects have been fully funded, and any year thereafter up to the time limit, any City contributions in excess of remaining bond payments shall be returned by the EIFD to the City.

5.5 District Termination Date
The District is divided into two Project Areas, for which revenues will tracked separately. The IFP will cease to be in effect for a given Project Area, all tax allocations to a given Project Area will end, and the District’s authority to repay indebtedness with incremental tax revenues from a given Project Area will end no later than 45 years from the date that P roject Area has received one hundred thousand dollars ($100,000) in annual incremental tax revenues. In other words, each Project Area will have an independent, maximum 45-year duration that begins once the annual tax increment revenues from that Project Area reaches $100,000. This IFP assumes that the District will be formed in Fiscal Year 2024-2025, setting Fiscal Year 2025-2026 as its base year, anticipated to receive tax revenues beginning in Fiscal Year 2026-2027.

5.6 Analysis of Costs to Provide Facilities and Services Appendix D to this IFP includes, as part of the Fiscal Impact Analysis, an analysis of the costs to the City for providing facilities and services to the area of the District. It is estimated that, at Year 23 Pittsburg EIFD Infrastructure Financing Plan September 2024February 2025

Page 17 ends

20 of the District lifetime (assumed stabilized buildout of District area), annual costs to the City will be approximately $29.5 million to service the area of the District across both Project Areas.

5. 7 Fiscal Impact Analysis
Appendix D to this IFP includes an analysis of the projected fiscal impact of the District and the associated development upon the City, as the only affected taxing entity contributing tax increment revenues to the District. Table 4 presents an overview of fiscal impacts to the City.

Table 4: Overview of Fiscal Impacts to City

It is estimated that, at Year 20 of the District lifetime, the District area will generate an annual net fiscal surplus of approximately $6.4 million to the City across both Project Areas. Over 50 years, District activity is expected to generate a positive net fiscal impact of approximately $120 million for the City on a present-value basis. This is in addition to the community economic benefits outlined in Section 4 of this IFP (e.g., jobs, housing, quality of life).

5.8 Developer Reimbursement for Transit Priority Project The PFA does not intend to finance any potential costs that may be incurred by reimbursing a developer of a project that is both located entirely within the boundaries of the District and qualifies for the Transit Priority Project Program, pursuant to Section 65470. To the extent that a developer is willing to fund Transit Priority Project infrastructure expenditures beyond and in advance of said developer’s fair share (not contemplated at this time), the PFA may consider and evaluate such reimbursement at the appropriate time.

Annual
(Stablized
Year 20)
Year 0-50
Nominal
Total
Year 0-50
Pres ent Value
@ 3.0%
City of Pittsburg
Estimated Fiscal Revenues (Net of EIFD Allocation) $35,941,275 $1,982,058,000 $763,251,300 Estimated Fiscal Expenditures $29,536,000 $1,707,552,500 $643,367,800 Estimated Net Fiscal Impact to City $6,405,275 $274,505,500 $119,883,500 24 Pittsburg EIFD Infrastructure Financing Plan September 2024February 2025

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7.0 Removal of Dwelling Units and
Replacement Housing Plan

The PFA does not anticipated that any housing units will be removed as a result of any project identified in this IFP. However, if any relocation of dwelling units is deemed to be required in the future for a project financed by the District, the PFA will comply with the requirements of Government Code Section 53398.56.

25 Pittsburg EIFD Infrastructure Financing Plan September 2024February 2025

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8.0 Appendices

Appendix A: Map of Boundaries of the Pittsburg EIFD
Appendix B: Legal Description of the Pittsburg EIFD
Appendix C: Projected Tax Increment Revenue Analysis
Appendix D: Fiscal Impact Analysis
26 Appendix A to IFP – Pittsburg EIFD Map DRAFT

27 Appendix B to IFP ‐ Pittsburg EIFD List of Assessor Parcel Numbers DRAFT 073‐010‐002 073 ‐200‐020 074 ‐460‐014 085 ‐380‐123 088 ‐220‐011 092 ‐050‐002 092 ‐060‐047 092 ‐070‐009 073‐010‐003 073 ‐200‐022 074 ‐460‐015 085 ‐390‐077 088 ‐240‐079 092 ‐060‐001 092 ‐060‐048 092 ‐070‐010 073‐010‐004 073 ‐200‐025 074 ‐460‐024 086 ‐010‐016 088 ‐240‐080 092 ‐060‐002 092 ‐060‐049 092 ‐070‐011 073‐010‐005 073 ‐200‐026 074 ‐460‐030 086 ‐100‐015 088 ‐530‐004 092 ‐060‐003 092 ‐060‐050 092 ‐070‐012 073‐010‐008 073 ‐200‐027 074 ‐460‐031 086 ‐100‐019 088 ‐530‐005 092 ‐060‐004 092 ‐060‐051 092 ‐070‐013 073‐010‐014 073 ‐200‐028 074 ‐460‐033 086 ‐100‐027 088 ‐530‐006 092 ‐060‐005 092 ‐060‐052 092 ‐070‐014 073‐010‐015 073 ‐200‐029 074 ‐460‐035 086 ‐100‐030 088 ‐540‐007 092 ‐060‐006 092 ‐060‐053 092 ‐070‐015 073‐020‐004 073 ‐210‐017 074 ‐460‐036 086 ‐100‐035 088 ‐540‐014 092 ‐060‐007 092 ‐060‐054 092 ‐070‐016 073‐020‐013 073 ‐210‐032 074 ‐460‐037 086 ‐100‐036 088 ‐540‐018 092 ‐060‐008 092 ‐060‐055 092 ‐070‐017 073‐020‐019 073 ‐220‐032 085 ‐010‐010 086 ‐100‐037 089 ‐010‐010 092 ‐060‐009 092 ‐060‐056 092 ‐070‐018 073‐020‐020 073 ‐220‐039 085 ‐020‐004 086 ‐100‐042 089 ‐020‐009 092 ‐060‐010 092 ‐060‐057 092 ‐070‐019 073‐030‐005 073 ‐220‐040 085 ‐030‐006 086 ‐100‐043 089 ‐020‐011 092 ‐060‐011 092 ‐060‐058 092 ‐070‐020 073‐030‐007 073 ‐220‐041 085 ‐041‐034 086 ‐100‐045 089 ‐020‐014 092 ‐060‐012 092 ‐060‐059 092 ‐070‐021 073‐030‐013 073 ‐220‐042 085 ‐071‐030 086 ‐100‐046 089 ‐020‐015 092 ‐060‐013 092 ‐060‐060 092 ‐070‐022 073‐030‐018 073 ‐220‐043 085 ‐071‐031 086 ‐132‐016 089 ‐050‐070 092 ‐060‐014 092 ‐060‐061 092 ‐070‐023 073‐030‐019 073 ‐220‐044 085 ‐071‐032 086 ‐151‐046 089 ‐050‐071 092 ‐060‐015 092 ‐060‐062 092 ‐070‐024 073‐030‐020 073 ‐220‐048 085 ‐071‐038 086 ‐221‐002 089 ‐050‐074 092 ‐060‐016 092 ‐060‐063 092 ‐070‐025 073‐030‐021 073 ‐220‐049 085 ‐071‐039 086 ‐221‐003 089 ‐150‐016 092 ‐060‐017 092 ‐060‐064 092 ‐070‐026 073‐030‐022 073 ‐220‐050 085 ‐071‐044 086 ‐221‐004 089 ‐310‐015 092 ‐060‐018 092 ‐060‐065 092 ‐070‐027 073‐030‐023 073 ‐220‐051 085 ‐071‐045 086 ‐221‐005 091 ‐010‐009 092 ‐060‐019 092 ‐060‐066 092 ‐070‐028 073‐041‐001 073 ‐230‐007 085 ‐071‐046 086 ‐221‐006 091 ‐020‐008 092 ‐060‐020 092 ‐060‐067 092 ‐070‐029 073‐041‐002 073 ‐230‐010 085 ‐071‐047 086 ‐221‐007 091 ‐020‐010 092 ‐060‐021 092 ‐060‐068 092 ‐070‐030 073‐041‐003 073 ‐230‐015 085 ‐101‐023 086 ‐221‐008 091 ‐020‐013 092 ‐060‐022 092 ‐060‐069 092 ‐070‐031 073‐041‐004 073 ‐230‐030 085 ‐101‐024 086 ‐221‐009 091 ‐020‐018 092 ‐060‐023 092 ‐060‐070 092 ‐070‐032 073‐041‐005 073 ‐230‐031 085 ‐105‐003 086 ‐221‐010 091 ‐040‐002 092 ‐060‐024 092 ‐060‐071 092 ‐070‐033 073‐041‐006 073 ‐230‐032 085 ‐105‐004 086 ‐221‐011 091 ‐050‐047 092 ‐060‐025 092 ‐060‐072 092 ‐070‐034 073‐041‐007 073 ‐230‐033 085 ‐105‐005 086 ‐221‐012 091 ‐050‐057 092 ‐060‐026 092 ‐060‐073 092 ‐070‐035 073‐042‐003 073 ‐230‐047 085 ‐105‐006 086 ‐221‐013 091 ‐050‐058 092 ‐060‐027 092 ‐060‐074 092 ‐070‐036 073‐042‐004 073 ‐270‐088 085 ‐105‐010 086 ‐221‐028 091 ‐050‐060 092 ‐060‐028 092 ‐060‐075 092 ‐070‐037 073‐042‐005 074 ‐030‐013 085 ‐105‐014 087 ‐090‐005 091 ‐050‐062 092 ‐060‐029 092 ‐060‐076 092 ‐070‐038 073‐042‐007 074 ‐030‐015 085 ‐105‐015 087 ‐277‐001 091 ‐050‐064 092 ‐060‐030 092 ‐060‐077 092 ‐070‐039 073‐042‐012 074 ‐090‐019 085 ‐108‐004 087 ‐362‐011 091 ‐050‐065 092 ‐060‐031 092 ‐060‐078 092 ‐070‐040 073‐042‐013 074 ‐090‐025 085 ‐109‐002 088 ‐040‐005 091 ‐050‐066 092 ‐060‐032 092 ‐060‐079 092 ‐070‐041 073‐042‐015 074 ‐090‐027 085 ‐130‐044 088 ‐040‐009 091 ‐050‐067 092 ‐060‐033 092 ‐060‐080 092 ‐070‐042 073‐042‐017 074 ‐460‐001 085 ‐144‐021 088 ‐040‐017 091 ‐050‐068 092 ‐060‐034 092 ‐060‐081 092 ‐070‐043 073‐042‐019 074 ‐460‐002 085 ‐151‐025 088 ‐081‐016 091 ‐050‐069 092 ‐060‐035 092 ‐060‐082 092 ‐070‐044 073‐042‐023 074 ‐460‐003 085 ‐156‐021 088 ‐110‐001 091 ‐180‐001 092 ‐060‐036 092 ‐060‐083 092 ‐070‐045 073‐042‐024 074 ‐460‐004 085 ‐161‐018 088 ‐152‐029 091 ‐310‐030 092 ‐060‐037 092 ‐060‐084 092 ‐070‐046 073‐042‐025 074 ‐460‐005 085 ‐166‐009 088 ‐152‐032 092 ‐010‐002 092 ‐060‐038 092 ‐060‐085 092 ‐070‐047 073‐050‐001 074 ‐460‐006 085 ‐166‐016 088 ‐152‐036 092 ‐010‐006 092 ‐060‐039 092 ‐070‐001 092 ‐070‐048 073‐190‐012 074 ‐460‐007 085 ‐166‐018 088 ‐152‐037 092 ‐020‐002 092 ‐060‐040 092 ‐070‐002 092 ‐070‐049 073‐190‐035 074 ‐460‐008 085 ‐167‐003 088 ‐171‐027 092 ‐020‐003 092 ‐060‐041 092 ‐070‐003 092 ‐070‐050 073‐200‐013 074 ‐460‐009 085 ‐167‐004 088 ‐171‐035 092 ‐030‐010 092 ‐060‐042 092 ‐070‐004 092 ‐070‐051 073‐200‐014 074 ‐460‐010 085 ‐167‐005 088 ‐171‐037 092 ‐040‐008 092 ‐060‐043 092 ‐070‐005 092 ‐070‐052 073‐200‐015 074 ‐460‐011 085 ‐280‐010 088 ‐184‐031 092 ‐040‐009 092 ‐060‐044 092 ‐070‐006 092 ‐070‐053 073‐200‐017 074 ‐460‐012 085 ‐290‐001 088 ‐220‐008 092 ‐040‐010 092 ‐060‐045 092 ‐070‐007 092 ‐070‐054 073‐200‐018 074 ‐460‐013 085 ‐370‐050 088 ‐220‐010 092 ‐040‐011 092 ‐060‐046 092 ‐070‐008 092 ‐070‐055

Page 1 of 228 ends

Appendix B to IFP ‐ Pittsburg EIFD List of Assessor Parcel Numbers DRAFT 092‐070‐056 092 ‐080‐027 092 ‐080‐074 095 ‐460‐012
092‐070‐057 092 ‐080‐028 092 ‐080‐075 095 ‐460‐013
092‐070‐058 092 ‐080‐029 092 ‐080‐076 095 ‐460‐014
092‐070‐059 092 ‐080‐030 092 ‐080‐077 095 ‐460‐015
092‐070‐060 092 ‐080‐031 092 ‐080‐078 095 ‐460‐016
092‐070‐061 092 ‐080‐032 092 ‐080‐079 095 ‐460‐017
092‐070‐062 092 ‐080‐033 092 ‐080‐080 095 ‐460‐018
092‐070‐063 092 ‐080‐034 092 ‐080‐081 095 ‐460‐019
092‐070‐064 092 ‐080‐035 092 ‐080‐082 095 ‐460‐020
092‐070‐065 092 ‐080‐036 092 ‐080‐083 095 ‐460‐021
092‐070‐066 092 ‐080‐037 092 ‐080‐084 095 ‐460‐022
092‐070‐067 092 ‐080‐038 092 ‐080‐085 095 ‐460‐023
092‐070‐068 092 ‐080‐039 092 ‐080‐086 095 ‐460‐024
092‐070‐069 092 ‐080‐040 092 ‐080‐087 095 ‐460‐025
092‐070‐070 092 ‐080‐041 092 ‐080‐088 095 ‐460‐026
092‐070‐071 092 ‐080‐042 092 ‐080‐089 095 ‐460‐027
092‐070‐072 092 ‐080‐043 092 ‐080‐090 095 ‐460‐028
092‐070‐073 092 ‐080‐044 093 ‐130‐027 096 ‐100‐015
092‐070‐074 092 ‐080‐045 093 ‐130‐038 096 ‐100‐031
092‐070‐075 092 ‐080‐046 093 ‐130‐046 096 ‐100‐032
092‐070‐076 092 ‐080‐047 093 ‐130‐049 096 ‐100‐033
092‐080‐001 092 ‐080‐048 093 ‐320‐069 096 ‐100‐034
092‐080‐002 092 ‐080‐049 093 ‐340‐038 096 ‐150‐075
092‐080‐003 092 ‐080‐050 093 ‐340‐039
092‐080‐004 092 ‐080‐051 093 ‐460‐012
092‐080‐005 092 ‐080‐052 094 ‐080‐002
092‐080‐006 092 ‐080‐053 094 ‐080‐011
092‐080‐007 092 ‐080‐054 094 ‐080‐014
092‐080‐008 092 ‐080‐055 094 ‐080‐031
092‐080‐009 092 ‐080‐056 094 ‐080‐037
092‐080‐010 092 ‐080‐057 094 ‐090‐001
092‐080‐011 092 ‐080‐058 094 ‐302‐046
092‐080‐012 092 ‐080‐059 095 ‐150‐032
092‐080‐013 092 ‐080‐060 095 ‐160‐001
092‐080‐014 092 ‐080‐061 095 ‐160‐002
092‐080‐015 092 ‐080‐062 095 ‐242‐090
092‐080‐016 092 ‐080‐063 095 ‐460‐001
092‐080‐017 092 ‐080‐064 095 ‐460‐002
092‐080‐018 092 ‐080‐065 095 ‐460‐003
092‐080‐019 092 ‐080‐066 095 ‐460‐004
092‐080‐020 092 ‐080‐067 095 ‐460‐005
092‐080‐021 092 ‐080‐068 095 ‐460‐006
092‐080‐022 092 ‐080‐069 095 ‐460‐007
092‐080‐023 092 ‐080‐070 095 ‐460‐008
092‐080‐024 092 ‐080‐071 095 ‐460‐009
092‐080‐025 092 ‐080‐072 095 ‐460‐010
092‐080‐026 092 ‐080‐073 095 ‐460‐011

Page 2 of 229 ends

Appendix C to IFP - Pittsburg EIFD Projected Tax Increment Revenue Analysis - PROJECT AREA #1 DRAFT 01234567
Total 2025‐2026 2027 2028 2029 2030 2031 2032 2033
New Development
Residential ‐ For‐Sale 6,053 units 303 units 303 units 303 units 303 units 303 units 303 units 303 units $600,000 per unit $4,590,296,865 $188,921,554 $192,699,985 $196,553,985 $200,485,065 $204,494,766 $208,584,661 $212,756,355 Residential ‐ Rental 2,310 units 116 units 116 units 116 units 116 units 116 units 116 units 116 units $325,000 per unit $949,033,080 $39,059,087 $39,840,269 $40,637,074 $41,449,816 $42,278,812 $43,124,388 $43,986,876 Residential ‐ Affordable 1,476 units 74 units 74 units 74 units 74 units 74 units 74 units 74 units $0 per unit $0 $0 $0 $0 $0 $0 $0 $0
Commercial 232,500 SF 11,625 SF 11,625 SF 11,625 SF 11,625 SF 11,625 SF 11,625 SF 11,625 SF $350 PSF $102,853,864 $4,233,128 $4,317,790 $4,404,146 $4,492,229 $4,582,073 $4,673,715 $4,767,189 Tech Park 3,000,000 SF 150,000 SF 150,000 SF 150,000 SF 150,000 SF 150,000 SF 150,000 SF 150,000 SF $250 PSF $947,961,883 $39,015,000 $39,795,300 $40,591,206 $41,403,030 $42,231,091 $43,075,713 $43,937,227 Industrial 110,000 SF 110,000 SF
$175 PSF $20,836,819 $0 $0 $20,836,819 $0 $0 $0 $0
Hotel 370 SF 125 rooms 125 rooms
$250,000 per room $104,208,103 $0 $33,162,750 $0 $0 $35,192,576 $0 $0 Subtotal Value Add $6,715,190,614 $271,228,769 $309,816,094 $303,023,230 $287,830,139 $328,779,318 $299,458,477 $305,447,646 Total Assessed Value $313,554,544 $591,054,404 $912,691,586 $1,233,968,647 $1,546,478,159 $1,906,187,040 $2,243,769,258 $2,594,092,289 Incremental AV $277,499,860 $599,137,042 $920,414,103 $1,232,923,615 $1,592,632,496 $1,930,214,714 $2,280,537,745 Total tax increment @ 1% $2,774,999 $5,991,370 $9,204,141 $12,329,236 $15,926,325 $19,302,147 $22,805,377 City Average AB8 Share Available 15.33% $645,957,546 $425,480 $918,634 $1,411,236 $1,890,395 $2,441,922 $2,959,524 $3,496,661 Percent Allocated to EIFD 25.0% $133,589,895 $106,370 $229,658 $352,809 $472,599 $610,481 $739,881 $874,165 City Equivalent Share of MVLF Property Tax 6.63% $279,115,023 $183,848 $396,937 $609,788 $816,830 $1,055,142 $1,278,796 $1,510,890 Percent Allocated to EIFD 25.0% $57,723,525 $45,962 $99,234 $152,447 $204,208 $263,786 $319,699 $377,722 Total Revenues Allocated to EIFD $191,313,420 $152,332 $328,893 $505,256 $676,806 $874,266 $1,059,580 $1,251,888 9/26/2024
Appendix C‐1 Page 1 of 7
30 Appendix C to IFP - Pittsburg EIFD Projected Tax Increment Revenue Analysis - PROJECT AREA #1 DRAFT Total
New Development
Residential ‐ For‐Sale 6,053 units
$600,000 per unit $4,590,296,865
Residential ‐ Rental 2,310 units
$325,000 per unit $949,033,080
Residential ‐ Affordable 1,476 units
$0 per unit $0
Commercial 232,500 SF
$350 PSF $102,853,864
Tech Park 3,000,000 SF
$250 PSF $947,961,883
Industrial 110,000 SF
$175 PSF $20,836,819
Hotel 370 SF
$250,000 per room $104,208,103
Subtotal Value Add $6,715,190,614
Total Assessed Value
Incremental AV
Total tax increment @ 1%
City Average AB8 Share Available 15.33% $645,957,546
Percent Allocated to EIFD 25.0% $133,589,895
City Equivalent Share of MVLF Property Tax 6.63% $279,115,023 Percent Allocated to EIFD 25.0% $57,723,525
Total Revenues Allocated to EIFD $191,313,420
8 9 10 11 12 13 14 15
2034 2035 2036 2037 2038 2039 2040 2041
303 units 303 units 303 units 303 units 303 units 303 units 303 units 303 units $217,011,482 $221,351,711 $225,778,745 $230,294,320 $234,900,207 $239,598,211 $244,390,175 $249,277,979 116 units 116 units 116 units 116 units 116 units 116 units 116 units 116 units $44,866,613 $45,763,946 $46,679,225 $47,612,809 $48,565,065 $49,536,367 $50,527,094 $51,537,636 74 units 74 units 74 units 74 units 74 units 74 units 74 units 74 units $0 $0 $0 $0 $0 $0 $0 $0
11,625 SF 11,625 SF 11,625 SF 11,625 SF 11,625 SF 11,625 SF 11,625 SF 11,625 SF $4,862,533 $4,959,784 $5,058,979 $5,160,159 $5,263,362 $5,368,629 $5,476,002 $5,585,522 150,000 SF 150,000 SF 150,000 SF 150,000 SF 150,000 SF 150,000 SF 150,000 SF 150,000 SF $44,815,971 $45,712,291 $46,626,537 $47,559,067 $48,510,249 $49,480,454 $50,470,063 $51,479,464 $0 $0 $0 $0 $0 $0 $0 $0
120 rooms
$35,852,777 $0 $0 $0 $0 $0 $0 $0
$347,409,376 $317,787,731 $324,143,486 $330,626,356 $337,238,883 $343,983,660 $350,863,333 $357,880,600 $2,993,383,511 $3,371,038,913 $3,762,603,177 $4,168,481,596 $4,589,090,110 $5,024,855,573 $5,476,216,018 $5,943,620,938 $2,679,828,967 $3,057,484,369 $3,449,048,633 $3,854,927,052 $4,275,535,566 $4,711,301,029 $5,162,661,474 $5,630,066,394 $26,798,290 $30,574,844 $34,490,486 $38,549,271 $42,755,356 $47,113,010 $51,626,615 $56,300,664 $4,108,879 $4,687,924 $5,288,294 $5,910,612 $6,555,515 $7,223,657 $7,915,711 $8,632,365 $1,027,220 $1,171,981 $1,322,074 $1,477,653 $1,638,879 $1,805,914 $1,978,928 $2,158,091 $1,775,426 $2,025,628 $2,285,045 $2,553,946 $2,832,605 $3,121,306 $3,420,339 $3,730,002 $443,857 $506,407 $571,261 $638,486 $708,151 $780,327 $855,085 $932,500 $1,471,076 $1,678,388 $1,893,335 $2,116,139 $2,347,030 $2,586,241 $2,834,013 $3,090,592 9/26/2024
Appendix C‐1 Page 2 of 7
31 Appendix C to IFP - Pittsburg EIFD Projected Tax Increment Revenue Analysis - PROJECT AREA #1 DRAFT Total
New Development
Residential ‐ For‐Sale 6,053 units
$600,000 per unit $4,590,296,865
Residential ‐ Rental 2,310 units
$325,000 per unit $949,033,080
Residential ‐ Affordable 1,476 units
$0 per unit $0
Commercial 232,500 SF
$350 PSF $102,853,864
Tech Park 3,000,000 SF
$250 PSF $947,961,883
Industrial 110,000 SF
$175 PSF $20,836,819
Hotel 370 SF
$250,000 per room $104,208,103
Subtotal Value Add $6,715,190,614
Total Assessed Value
Incremental AV
Total tax increment @ 1%
City Average AB8 Share Available 15.33% $645,957,546
Percent Allocated to EIFD 25.0% $133,589,895
City Equivalent Share of MVLF Property Tax 6.63% $279,115,023 Percent Allocated to EIFD 25.0% $57,723,525
Total Revenues Allocated to EIFD $191,313,420
16 17 18 19 20 21 22 23
2042 2043 2044 2045 2046 2047 2048 2049
303 units 303 units 303 units 303 units 303 units
$254,263,538 $259,348,809 $264,535,785 $269,826,501 $275,223,031 $0 $0 $0 116 units 116 units 116 units 116 units 116 units
$52,568,388 $53,619,756 $54,692,151 $55,785,994 $56,901,714 $0 $0 $0 74 units 74 units 74 units 74 units 74 units
$0 $0 $0 $0 $0 $0 $0 $0
11,625 SF 11,625 SF 11,625 SF 11,625 SF 11,625 SF
$5,697,232 $5,811,177 $5,927,400 $6,045,948 $6,166,867 $0 $0 $0 150,000 SF 150,000 SF 150,000 SF 150,000 SF 150,000 SF $52,509,053 $53,559,234 $54,630,419 $55,723,027 $56,837,488 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$365,038,212 $372,338,976 $379,785,756 $387,381,471 $395,129,100 $0 $0 $0 $6,427,531,569 $6,928,421,177 $7,446,775,356 $7,983,092,335 $8,537,883,282 $8,708,640,947 $8,882,813,766 $9,060,470,042 $6,113,977,025 $6,614,866,633 $7,133,220,812 $7,669,537,791 $8,224,328,738 $8,395,086,403 $8,569,259,222 $8,746,915,498 $61,139,770 $66,148,666 $71,332,208 $76,695,378 $82,243,287 $83,950,864 $85,692,592 $87,469,155 $9,374,327 $10,142,322 $10,937,094 $11,759,409 $12,610,048 $12,871,864 $13,138,917 $13,411,310 $2,343,582 $2,535,580 $2,734,274 $2,939,852 $3,152,512 $3,217,966 $3,284,729 $3,352,828 $4,050,600 $4,382,446 $4,725,864 $5,081,182 $5,448,739 $5,561,868 $5,677,260 $5,794,960 $1,012,650 $1,095,612 $1,181,466 $1,270,295 $1,362,185 $1,390,467 $1,419,315 $1,448,740 $3,356,232 $3,631,192 $3,915,739 $4,210,148 $4,514,697 $4,608,433 $4,704,044 $4,801,568 9/26/2024
Appendix C‐1 Page 3 of 7
32 Appendix C to IFP - Pittsburg EIFD Projected Tax Increment Revenue Analysis - PROJECT AREA #1 DRAFT Total
New Development
Residential ‐ For‐Sale 6,053 units
$600,000 per unit $4,590,296,865
Residential ‐ Rental 2,310 units
$325,000 per unit $949,033,080
Residential ‐ Affordable 1,476 units
$0 per unit $0
Commercial 232,500 SF
$350 PSF $102,853,864
Tech Park 3,000,000 SF
$250 PSF $947,961,883
Industrial 110,000 SF
$175 PSF $20,836,819
Hotel 370 SF
$250,000 per room $104,208,103
Subtotal Value Add $6,715,190,614
Total Assessed Value
Incremental AV
Total tax increment @ 1%
City Average AB8 Share Available 15.33% $645,957,546
Percent Allocated to EIFD 25.0% $133,589,895
City Equivalent Share of MVLF Property Tax 6.63% $279,115,023 Percent Allocated to EIFD 25.0% $57,723,525
Total Revenues Allocated to EIFD $191,313,420
24 25 26 27 28 29 30 31
2050 2051 2052 2053 2054 2055 2056 2057
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$9,241,679,442 $9,426,513,031 $9,615,043,292 $9,807,344,158 $10,003,491,041 $10,203,560,862 $10,407,632,079 $10,615,784,721 $8,928,124,898 $9,112,958,487 $9,301,488,748 $9,493,789,614 $9,689,936,497 $9,890,006,318 $10,094,077,535 $10,302,230,177 $89,281,249 $91,129,585 $93,014,887 $94,937,896 $96,899,365 $98,900,063 $100,940,775 $103,022,302 $13,689,152 $13,972,550 $14,261,616 $14,556,464 $14,857,208 $15,163,968 $15,476,862 $15,796,015 $3,422,288 $3,493,138 $3,565,404 $3,639,116 $3,714,302 $3,790,992 $3,869,216 $3,949,004 $5,915,014 $6,037,469 $6,162,373 $6,289,775 $6,419,725 $6,552,275 $6,687,475 $6,825,379 $1,478,754 $1,509,367 $1,540,593 $1,572,444 $1,604,931 $1,638,069 $1,671,869 $1,706,345 $4,901,041 $5,002,505 $5,105,997 $5,211,560 $5,319,233 $5,429,061 $5,541,084 $5,655,348 9/26/2024
Appendix C‐1 Page 4 of 7
33 Appendix C to IFP - Pittsburg EIFD Projected Tax Increment Revenue Analysis - PROJECT AREA #1 DRAFT Total
New Development
Residential ‐ For‐Sale 6,053 units
$600,000 per unit $4,590,296,865
Residential ‐ Rental 2,310 units
$325,000 per unit $949,033,080
Residential ‐ Affordable 1,476 units
$0 per unit $0
Commercial 232,500 SF
$350 PSF $102,853,864
Tech Park 3,000,000 SF
$250 PSF $947,961,883
Industrial 110,000 SF
$175 PSF $20,836,819
Hotel 370 SF
$250,000 per room $104,208,103
Subtotal Value Add $6,715,190,614
Total Assessed Value
Incremental AV
Total tax increment @ 1%
City Average AB8 Share Available 15.33% $645,957,546
Percent Allocated to EIFD 25.0% $133,589,895
City Equivalent Share of MVLF Property Tax 6.63% $279,115,023 Percent Allocated to EIFD 25.0% $57,723,525
Total Revenues Allocated to EIFD $191,313,420
32 33 34 35 36 37 38 39
2058 2059 2060 2061 2062 2063 2064 2065
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$10,828,100,415 $11,044,662,423 $11,265,555,672 $11,490,866,785 $11,720,684,121 $11,955,097,803 $12,194,199,759 $12,438,083,755 $10,514,545,871 $10,731,107,879 $10,952,001,128 $11,177,312,241 $11,407,129,577 $11,641,543,259 $11,880,645,215 $12,124,529,211 $105,145,459 $107,311,079 $109,520,011 $111,773,122 $114,071,296 $116,415,433 $118,806,452 $121,245,292 $16,121,550 $16,453,597 $16,792,284 $17,137,745 $17,490,115 $17,849,532 $18,216,138 $18,590,076 $4,030,388 $4,113,399 $4,198,071 $4,284,436 $4,372,529 $4,462,383 $4,554,035 $4,647,519 $6,966,041 $7,109,517 $7,255,862 $7,405,134 $7,557,391 $7,712,694 $7,871,102 $8,032,679 $1,741,510 $1,777,379 $1,813,965 $1,851,283 $1,889,348 $1,928,173 $1,967,776 $2,008,170 $5,771,898 $5,890,778 $6,012,036 $6,135,720 $6,261,876 $6,390,556 $6,521,810 $6,655,689 9/26/2024
Appendix C‐1 Page 5 of 7
34 Appendix C to IFP - Pittsburg EIFD Projected Tax Increment Revenue Analysis - PROJECT AREA #1 DRAFT Total
New Development
Residential ‐ For‐Sale 6,053 units
$600,000 per unit $4,590,296,865
Residential ‐ Rental 2,310 units
$325,000 per unit $949,033,080
Residential ‐ Affordable 1,476 units
$0 per unit $0
Commercial 232,500 SF
$350 PSF $102,853,864
Tech Park 3,000,000 SF
$250 PSF $947,961,883
Industrial 110,000 SF
$175 PSF $20,836,819
Hotel 370 SF
$250,000 per room $104,208,103
Subtotal Value Add $6,715,190,614
Total Assessed Value
Incremental AV
Total tax increment @ 1%
City Average AB8 Share Available 15.33% $645,957,546
Percent Allocated to EIFD 25.0% $133,589,895
City Equivalent Share of MVLF Property Tax 6.63% $279,115,023 Percent Allocated to EIFD 25.0% $57,723,525
Total Revenues Allocated to EIFD $191,313,420
40 41 42 43 44 45 46 47
2066 2067 2068 2069 2070 2071 2072 2073
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$12,686,845,430 $12,940,582,338 $13,199,393,985 $13,463,381,865 $13,732,649,502 $14,007,302,492 $14,287,448,542 $14,573,197,513 $12,373,290,886 $12,627,027,794 $12,885,839,441 $13,149,827,321 $13,419,094,958 $13,693,747,948 $13,973,893,998 $14,259,642,969 $123,732,909 $126,270,278 $128,858,394 $131,498,273 $134,190,950 $136,937,479 $139,738,940 $142,596,430 $18,971,493 $19,360,538 $19,757,364 $20,162,127 $20,574,984 $20,996,099 $21,425,636 $21,863,764 $4,742,873 $4,840,135 $4,939,341 $5,040,532 $5,143,746 $5,249,025 $0 $0 $8,197,487 $8,365,592 $8,537,058 $8,711,954 $8,890,348 $9,072,309 $9,257,910 $9,447,223 $2,049,372 $2,091,398 $2,134,265 $2,177,988 $2,222,587 $2,268,077 $0 $0 $6,792,245 $6,931,532 $7,073,606 $7,218,520 $7,366,333 $7,517,102 $0 $0 9/26/2024
Appendix C‐1 Page 6 of 7
35 Appendix C to IFP - Pittsburg EIFD Projected Tax Increment Revenue Analysis - PROJECT AREA #1 DRAFT Total
New Development
Residential ‐ For‐Sale 6,053 units
$600,000 per unit $4,590,296,865
Residential ‐ Rental 2,310 units
$325,000 per unit $949,033,080
Residential ‐ Affordable 1,476 units
$0 per unit $0
Commercial 232,500 SF
$350 PSF $102,853,864
Tech Park 3,000,000 SF
$250 PSF $947,961,883
Industrial 110,000 SF
$175 PSF $20,836,819
Hotel 370 SF
$250,000 per room $104,208,103
Subtotal Value Add $6,715,190,614
Total Assessed Value
Incremental AV
Total tax increment @ 1%
City Average AB8 Share Available 15.33% $645,957,546
Percent Allocated to EIFD 25.0% $133,589,895
City Equivalent Share of MVLF Property Tax 6.63% $279,115,023 Percent Allocated to EIFD 25.0% $57,723,525
Total Revenues Allocated to EIFD $191,313,420
48 49 50
2074 2075 2076
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$14,864,661,463 $15,161,954,692 $15,465,193,786
$14,551,106,919 $14,848,400,148 $15,151,639,242
$145,511,069 $148,484,001 $151,516,392
$22,310,655 $22,766,483 $23,231,428
$0 $0 $0
$9,640,322 $9,837,283 $10,038,184
$0 $0 $0
$0 $0 $0
9/26/2024
Appendix C‐1 Page 7 of 7
36 Appendix C to IFP - Pittsburg EIFD Projected Tax Increment Revenue Analysis - PROJECT AREA #2 DRAFT 01234567
Total 2025‐2026 2027 2028 2029 2030 2031 2032 2033
New Development
Residential ‐ For‐Sale 0 units
$600,000 per unit $0 $0 $0 $0 $0 $0 $0 $0
Residential ‐ Rental 0 units
$325,000 per unit $0 $0 $0 $0 $0 $0 $0 $0
Residential ‐ Affordable 0 units
$0 per unit $0 $0 $0 $0 $0 $0 $0 $0
Commercial 0 SF
$350 PSF $0 $0 $0 $0 $0 $0 $0 $0
Tech Park 0 SF
$250 PSF $0 $0 $0 $0 $0 $0 $0 $0
Industrial 3,914,286 SF 195,714 SF 195,714 SF 195,714 SF 195,714 SF 195,714 SF 195,714 SF 195,714 SF $175 PSF $865,805,186 $35,633,700 $36,346,374 $37,073,301 $37,814,768 $38,571,063 $39,342,484 $40,129,334 Hotel 0 SF
$250,000 per room $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Value Add $865,805,186 $35,633,700 $36,346,374 $37,073,301 $37,814,768 $38,571,063 $39,342,484 $40,129,334 Total Assessed Value $386,099,470 $429,455,159 $474,390,637 $520,951,751 $569,185,553 $619,140,327 $670,865,618 $724,412,264 Incremental AV $43,355,689 $88,291,167 $134,852,281 $183,086,083 $233,040,857 $284,766,148 $338,312,794 Total tax increment @ 1% $433,557 $882,912 $1,348,523 $1,830,861 $2,330,409 $2,847,661 $3,383,128 City Average AB8 Share Available 15.33% $102,153,853 $66,476 $135,373 $206,764 $280,719 $357,313 $436,621 $518,722 Percent Allocated to EIFD 25.0% $23,617,970 $16,619 $33,843 $51,691 $70,180 $89,328 $109,155 $129,681 City Equivalent Share of MVLF Property Tax 6.63% $44,140,169 $28,724 $58,494 $89,342 $121,297 $154,393 $188,662 $224,137 Percent Allocated to EIFD 25.0% $10,205,207 $7,181 $14,624 $22,335 $30,324 $38,598 $47,165 $56,034 Total Revenues Allocated to EIFD $33,823,177 $23,800 $48,467 $74,026 $100,504 $127,926 $156,321 $185,715 9/26/2024
Appendix C‐2 Page 1 of 7
37 Appendix C to IFP - Pittsburg EIFD Projected Tax Increment Revenue Analysis - PROJECT AREA #2 DRAFT Total
New Development
Residential ‐ For‐Sale 0 units
$600,000 per unit $0
Residential ‐ Rental 0 units
$325,000 per unit $0
Residential ‐ Affordable 0 units
$0 per unit $0
Commercial 0 SF
$350 PSF $0
Tech Park 0 SF
$250 PSF $0
Industrial 3,914,286 SF
$175 PSF $865,805,186
Hotel 0 SF
$250,000 per room $0
Subtotal Value Add $865,805,186
Total Assessed Value
Incremental AV
Total tax increment @ 1%
City Average AB8 Share Available 15.33% $102,153,853
Percent Allocated to EIFD 25.0% $23,617,970
City Equivalent Share of MVLF Property Tax 6.63% $44,140,169 Percent Allocated to EIFD 25.0% $10,205,207
Total Revenues Allocated to EIFD $33,823,177
8 9 10 11 12 13 14 15
2034 2035 2036 2037 2038 2039 2040 2041
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
195,714 SF 195,714 SF 195,714 SF 195,714 SF 195,714 SF 195,714 SF 195,714 SF 195,714 SF $40,931,920 $41,750,559 $42,585,570 $43,437,281 $44,306,027 $45,192,148 $46,095,991 $47,017,910 $0 $0 $0 $0 $0 $0 $0 $0
$40,931,920 $41,750,559 $42,585,570 $43,437,281 $44,306,027 $45,192,148 $46,095,991 $47,017,910 $779,832,430 $837,179,637 $896,508,800 $957,876,258 $1,021,339,810 $1,086,958,754 $1,154,793,919 $1,224,907,708 $393,732,960 $451,080,167 $510,409,330 $571,776,788 $635,240,340 $700,859,284 $768,694,449 $838,808,238 $3,937,330 $4,510,802 $5,104,093 $5,717,768 $6,352,403 $7,008,593 $7,686,944 $8,388,082 $603,696 $691,624 $782,591 $876,683 $973,990 $1,074,601 $1,178,610 $1,286,113 $150,924 $172,906 $195,648 $219,171 $243,497 $268,650 $294,652 $321,528 $260,854 $298,847 $338,154 $378,811 $420,856 $464,330 $509,271 $555,723 $65,213 $74,712 $84,538 $94,703 $105,214 $116,082 $127,318 $138,931 $216,137 $247,618 $280,186 $313,873 $348,711 $384,733 $421,970 $460,459 9/26/2024
Appendix C‐2 Page 2 of 7
38 Appendix C to IFP - Pittsburg EIFD Projected Tax Increment Revenue Analysis - PROJECT AREA #2 DRAFT Total
New Development
Residential ‐ For‐Sale 0 units
$600,000 per unit $0
Residential ‐ Rental 0 units
$325,000 per unit $0
Residential ‐ Affordable 0 units
$0 per unit $0
Commercial 0 SF
$350 PSF $0
Tech Park 0 SF
$250 PSF $0
Industrial 3,914,286 SF
$175 PSF $865,805,186
Hotel 0 SF
$250,000 per room $0
Subtotal Value Add $865,805,186
Total Assessed Value
Incremental AV
Total tax increment @ 1%
City Average AB8 Share Available 15.33% $102,153,853
Percent Allocated to EIFD 25.0% $23,617,970
City Equivalent Share of MVLF Property Tax 6.63% $44,140,169 Percent Allocated to EIFD 25.0% $10,205,207
Total Revenues Allocated to EIFD $33,823,177
16 17 18 19 20 21 22 23
2042 2043 2044 2045 2046 2047 2048 2049
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
195,714 SF 195,714 SF 195,714 SF 195,714 SF 195,714 SF $47,958,269 $48,917,434 $49,895,783 $50,893,698 $51,911,572 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$47,958,269 $48,917,434 $49,895,783 $50,893,698 $51,911,572 $0 $0 $0 $1,297,364,131 $1,372,228,847 $1,449,569,207 $1,529,454,290 $1,611,954,948 $1,644,194,047 $1,677,077,927 $1,710,619,486 $911,264,661 $986,129,377 $1,063,469,737 $1,143,354,820 $1,225,855,478 $1,258,094,577 $1,290,978,457 $1,324,520,016 $9,112,647 $9,861,294 $10,634,697 $11,433,548 $12,258,555 $12,580,946 $12,909,785 $13,245,200 $1,397,207 $1,511,994 $1,630,577 $1,753,062 $1,879,557 $1,928,988 $1,979,408 $2,030,836 $349,302 $377,999 $407,644 $438,266 $469,889 $482,247 $494,852 $507,709 $603,726 $653,325 $704,564 $757,489 $812,147 $833,506 $855,292 $877,514 $150,932 $163,331 $176,141 $189,372 $203,037 $208,377 $213,823 $219,378 $500,233 $541,330 $583,785 $627,638 $672,926 $690,624 $708,675 $727,087 9/26/2024
Appendix C‐2 Page 3 of 7
39 Appendix C to IFP - Pittsburg EIFD Projected Tax Increment Revenue Analysis - PROJECT AREA #2 DRAFT Total
New Development
Residential ‐ For‐Sale 0 units
$600,000 per unit $0
Residential ‐ Rental 0 units
$325,000 per unit $0
Residential ‐ Affordable 0 units
$0 per unit $0
Commercial 0 SF
$350 PSF $0
Tech Park 0 SF
$250 PSF $0
Industrial 3,914,286 SF
$175 PSF $865,805,186
Hotel 0 SF
$250,000 per room $0
Subtotal Value Add $865,805,186
Total Assessed Value
Incremental AV
Total tax increment @ 1%
City Average AB8 Share Available 15.33% $102,153,853
Percent Allocated to EIFD 25.0% $23,617,970
City Equivalent Share of MVLF Property Tax 6.63% $44,140,169 Percent Allocated to EIFD 25.0% $10,205,207
Total Revenues Allocated to EIFD $33,823,177
24 25 26 27 28 29 30 31
2050 2051 2052 2053 2054 2055 2056 2057
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$1,744,831,876 $1,779,728,513 $1,815,323,084 $1,851,629,545 $1,888,662,136 $1,926,435,379 $1,964,964,086 $2,004,263,368 $1,358,732,406 $1,393,629,043 $1,429,223,614 $1,465,530,075 $1,502,562,666 $1,540,335,909 $1,578,864,616 $1,618,163,898 $13,587,324 $13,936,290 $14,292,236 $14,655,301 $15,025,627 $15,403,359 $15,788,646 $16,181,639 $2,083,292 $2,136,798 $2,191,374 $2,247,041 $2,303,822 $2,361,738 $2,420,813 $2,481,069 $520,823 $534,200 $547,843 $561,760 $575,955 $590,435 $605,203 $620,267 $900,180 $923,300 $946,882 $970,935 $995,470 $1,020,495 $1,046,021 $1,072,057 $225,045 $230,825 $236,720 $242,734 $248,867 $255,124 $261,505 $268,014 $745,868 $765,024 $784,564 $804,494 $824,823 $845,558 $866,708 $888,282 9/26/2024
Appendix C‐2 Page 4 of 7
40 Appendix C to IFP - Pittsburg EIFD Projected Tax Increment Revenue Analysis - PROJECT AREA #2 DRAFT Total
New Development
Residential ‐ For‐Sale 0 units
$600,000 per unit $0
Residential ‐ Rental 0 units
$325,000 per unit $0
Residential ‐ Affordable 0 units
$0 per unit $0
Commercial 0 SF
$350 PSF $0
Tech Park 0 SF
$250 PSF $0
Industrial 3,914,286 SF
$175 PSF $865,805,186
Hotel 0 SF
$250,000 per room $0
Subtotal Value Add $865,805,186
Total Assessed Value
Incremental AV
Total tax increment @ 1%
City Average AB8 Share Available 15.33% $102,153,853
Percent Allocated to EIFD 25.0% $23,617,970
City Equivalent Share of MVLF Property Tax 6.63% $44,140,169 Percent Allocated to EIFD 25.0% $10,205,207
Total Revenues Allocated to EIFD $33,823,177
32 33 34 35 36 37 38 39
2058 2059 2060 2061 2062 2063 2064 2065
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$2,044,348,636 $2,085,235,608 $2,126,940,320 $2,169,479,127 $2,212,868,709 $2,257,126,084 $2,302,268,605 $2,348,313,977 $1,658,249,166 $1,699,136,138 $1,740,840,850 $1,783,379,657 $1,826,769,239 $1,871,026,614 $1,916,169,135 $1,962,214,507 $16,582,492 $16,991,361 $17,408,409 $17,833,797 $18,267,692 $18,710,266 $19,161,691 $19,622,145 $2,542,530 $2,605,220 $2,669,165 $2,734,388 $2,800,915 $2,868,773 $2,937,989 $3,008,588 $635,632 $651,305 $667,291 $683,597 $700,229 $717,193 $734,497 $752,147 $1,098,614 $1,125,703 $1,153,333 $1,181,515 $1,210,261 $1,239,583 $1,269,490 $1,299,996 $274,654 $281,426 $288,333 $295,379 $302,565 $309,896 $317,373 $324,999 $910,286 $932,731 $955,624 $978,976 $1,002,794 $1,027,089 $1,051,870 $1,077,146 9/26/2024
Appendix C‐2 Page 5 of 7
41 Appendix C to IFP - Pittsburg EIFD Projected Tax Increment Revenue Analysis - PROJECT AREA #2 DRAFT Total
New Development
Residential ‐ For‐Sale 0 units
$600,000 per unit $0
Residential ‐ Rental 0 units
$325,000 per unit $0
Residential ‐ Affordable 0 units
$0 per unit $0
Commercial 0 SF
$350 PSF $0
Tech Park 0 SF
$250 PSF $0
Industrial 3,914,286 SF
$175 PSF $865,805,186
Hotel 0 SF
$250,000 per room $0
Subtotal Value Add $865,805,186
Total Assessed Value
Incremental AV
Total tax increment @ 1%
City Average AB8 Share Available 15.33% $102,153,853
Percent Allocated to EIFD 25.0% $23,617,970
City Equivalent Share of MVLF Property Tax 6.63% $44,140,169 Percent Allocated to EIFD 25.0% $10,205,207
Total Revenues Allocated to EIFD $33,823,177
40 41 42 43 44 45 46 47
2066 2067 2068 2069 2070 2071 2072 2073
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$2,395,280,257 $2,443,185,862 $2,492,049,579 $2,541,890,571 $2,592,728,382 $2,644,582,950 $2,697,474,609 $2,751,424,101 $2,009,180,787 $2,057,086,392 $2,105,950,109 $2,155,791,101 $2,206,628,912 $2,258,483,480 $2,311,375,139 $2,365,324,631 $20,091,808 $20,570,864 $21,059,501 $21,557,911 $22,066,289 $22,584,835 $23,113,751 $23,653,246 $3,080,600 $3,154,052 $3,228,973 $3,305,392 $3,383,340 $3,462,846 $3,543,943 $3,626,662 $770,150 $788,513 $807,243 $826,348 $845,835 $865,712 $885,986 $906,665 $1,331,112 $1,362,850 $1,395,223 $1,428,243 $1,461,924 $1,496,279 $1,531,320 $1,567,062 $332,778 $340,712 $348,806 $357,061 $365,481 $374,070 $382,830 $391,766 $1,102,928 $1,129,225 $1,156,049 $1,183,409 $1,211,316 $1,239,781 $1,268,816 $1,298,431 9/26/2024
Appendix C‐2 Page 6 of 7
42 Appendix C to IFP - Pittsburg EIFD Projected Tax Increment Revenue Analysis - PROJECT AREA #2 DRAFT Total
New Development
Residential ‐ For‐Sale 0 units
$600,000 per unit $0
Residential ‐ Rental 0 units
$325,000 per unit $0
Residential ‐ Affordable 0 units
$0 per unit $0
Commercial 0 SF
$350 PSF $0
Tech Park 0 SF
$250 PSF $0
Industrial 3,914,286 SF
$175 PSF $865,805,186
Hotel 0 SF
$250,000 per room $0
Subtotal Value Add $865,805,186
Total Assessed Value
Incremental AV
Total tax increment @ 1%
City Average AB8 Share Available 15.33% $102,153,853
Percent Allocated to EIFD 25.0% $23,617,970
City Equivalent Share of MVLF Property Tax 6.63% $44,140,169 Percent Allocated to EIFD 25.0% $10,205,207
Total Revenues Allocated to EIFD $33,823,177
48 49 50
2074 2075 2076
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$2,806,452,583 $2,862,581,635 $2,919,833,267
$2,420,353,113 $2,476,482,165 $2,533,733,797
$24,203,531 $24,764,822 $25,337,338
$3,711,035 $3,797,095 $3,884,877
$927,759 $0 $0
$1,603,520 $1,640,706 $1,678,636
$400,880 $0 $0
$1,328,639 $0 $0
9/26/2024
Appendix C‐2 Page 7 of 7
43 Appendix C to IFP - Pittsburg EIFD Projected Tax Increment Revenue Analysis - TOTAL EIFD DRAFT 01234567
Total 2025‐2026 2027 2028 2029 2030 2031 2032 2033
New Development
Residential ‐ For‐Sale 6,053 units 303 units 303 units 303 units 303 units 303 units 303 units 303 units $600,000 per unit $4,590,296,865 $188,921,554 $192,699,985 $196,553,985 $200,485,065 $204,494,766 $208,584,661 $212,756,355 Residential ‐ Rental 2,310 units 116 units 116 units 116 units 116 units 116 units 116 units 116 units $325,000 per unit $949,033,080 $39,059,087 $39,840,269 $40,637,074 $41,449,816 $42,278,812 $43,124,388 $43,986,876 Residential ‐ Affordable 1,476 units 74 units 74 units 74 units 74 units 74 units 74 units 74 units $0 per unit $0 $0 $0 $0 $0 $0 $0 $0
Commercial 232,500 SF 11,625 SF 11,625 SF 11,625 SF 11,625 SF 11,625 SF 11,625 SF 11,625 SF $350 PSF $102,853,864 $4,233,128 $4,317,790 $4,404,146 $4,492,229 $4,582,073 $4,673,715 $4,767,189 Tech Park 3,000,000 SF 150,000 SF 150,000 SF 150,000 SF 150,000 SF 150,000 SF 150,000 SF 150,000 SF $250 PSF $947,961,883 $39,015,000 $39,795,300 $40,591,206 $41,403,030 $42,231,091 $43,075,713 $43,937,227 Industrial 4,024,286 SF 201,214 SF 201,214 SF 201,214 SF 201,214 SF 201,214 SF 201,214 SF 201,214 SF $175 PSF $890,136,208 $36,635,085 $37,367,787 $38,115,142 $38,877,445 $39,654,994 $40,448,094 $41,257,056 Hotel 370 SF 125 rooms 125 rooms
$250,000 per room $104,208,103 $0 $33,162,750 $0 $0 $35,192,576 $0 $0 Subtotal Value Add $7,584,490,003 $307,863,854 $347,183,881 $320,301,553 $326,707,584 $368,434,312 $339,906,571 $346,704,702 Total Assessed Value $699,654,014 $1,021,510,948 $1,389,125,048 $1,737,209,102 $2,098,660,868 $2,509,068,397 $2,899,156,336 $3,303,844,165 Incremental AV $321,856,934 $689,471,034 $1,037,555,088 $1,399,006,854 $1,809,414,383 $2,199,502,322 $2,604,190,151 Total tax increment @ 1% $3,218,569 $6,894,710 $10,375,551 $13,990,069 $18,094,144 $21,995,023 $26,041,902 City Average AB8 Share Available 15.33% $748,111,399 $491,956 $1,054,007 $1,618,000 $2,171,113 $2,799,235 $3,396,145 $4,015,383 Percent Allocated to EIFD 25.0% $157,207,865 $122,989 $263,502 $404,500 $542,778 $699,809 $849,036 $1,003,846 City Equivalent Share of MVLF Property Tax 6.63% $323,255,192 $212,572 $455,431 $699,129 $938,127 $1,209,535 $1,467,457 $1,735,027 Percent Allocated to EIFD 25.0% $67,928,732 $53,143 $113,858 $174,782 $234,532 $302,384 $366,864 $433,757 Total Revenues Allocated to EIFD $225,136,597 $176,132 $377,360 $579,282 $777,310 $1,002,193 $1,215,901 $1,437,603 9/26/2024
Appendix C‐3 Page 1 of 7
44 Appendix C to IFP - Pittsburg EIFD Projected Tax Increment Revenue Analysis - TOTAL EIFD DRAFT Total
New Development
Residential ‐ For‐Sale 6,053 units
$600,000 per unit $4,590,296,865
Residential ‐ Rental 2,310 units
$325,000 per unit $949,033,080
Residential ‐ Affordable 1,476 units
$0 per unit $0
Commercial 232,500 SF
$350 PSF $102,853,864
Tech Park 3,000,000 SF
$250 PSF $947,961,883
Industrial 4,024,286 SF
$175 PSF $890,136,208
Hotel 370 SF
$250,000 per room $104,208,103
Subtotal Value Add $7,584,490,003
Total Assessed Value
Incremental AV
Total tax increment @ 1%
City Average AB8 Share Available 15.33% $748,111,399
Percent Allocated to EIFD 25.0% $157,207,865
City Equivalent Share of MVLF Property Tax 6.63% $323,255,192 Percent Allocated to EIFD 25.0% $67,928,732
Total Revenues Allocated to EIFD $225,136,597
8 9 10 11 12 13 14 15
2034 2035 2036 2037 2038 2039 2040 2041
303 units 303 units 303 units 303 units 303 units 303 units 303 units 303 units $217,011,482 $221,351,711 $225,778,745 $230,294,320 $234,900,207 $239,598,211 $244,390,175 $249,277,979 116 units 116 units 116 units 116 units 116 units 116 units 116 units 116 units $44,866,613 $45,763,946 $46,679,225 $47,612,809 $48,565,065 $49,536,367 $50,527,094 $51,537,636 74 units 74 units 74 units 74 units 74 units 74 units 74 units 74 units $0 $0 $0 $0 $0 $0 $0 $0
11,625 SF 11,625 SF 11,625 SF 11,625 SF 11,625 SF 11,625 SF 11,625 SF 11,625 SF $4,862,533 $4,959,784 $5,058,979 $5,160,159 $5,263,362 $5,368,629 $5,476,002 $5,585,522 150,000 SF 150,000 SF 150,000 SF 150,000 SF 150,000 SF 150,000 SF 150,000 SF 150,000 SF $44,815,971 $45,712,291 $46,626,537 $47,559,067 $48,510,249 $49,480,454 $50,470,063 $51,479,464 201,214 SF 201,214 SF 201,214 SF 201,214 SF 201,214 SF 201,214 SF 201,214 SF 201,214 SF $42,082,197 $42,923,841 $43,782,318 $44,657,964 $45,551,123 $46,462,146 $47,391,389 $48,339,217 120 rooms
$35,852,777 $0 $0 $0 $0 $0 $0 $0
$389,491,573 $360,711,572 $367,925,804 $375,284,320 $382,790,006 $390,445,806 $398,254,722 $406,219,817 $3,759,412,622 $4,195,312,446 $4,647,144,499 $5,115,371,709 $5,600,469,149 $6,102,924,338 $6,623,237,547 $7,161,922,115 $3,059,758,608 $3,495,658,432 $3,947,490,485 $4,415,717,695 $4,900,815,135 $5,403,270,324 $5,923,583,533 $6,462,268,101 $30,597,586 $34,956,584 $39,474,905 $44,157,177 $49,008,151 $54,032,703 $59,235,835 $64,622,681 $4,712,575 $5,379,548 $6,070,885 $6,787,295 $7,529,505 $8,298,258 $9,094,321 $9,918,478 $1,178,144 $1,344,887 $1,517,721 $1,696,824 $1,882,376 $2,074,565 $2,273,580 $2,479,619 $2,036,280 $2,324,476 $2,623,199 $2,932,756 $3,253,461 $3,585,636 $3,929,611 $4,285,725 $509,070 $581,119 $655,800 $733,189 $813,365 $896,409 $982,403 $1,071,431 $1,687,214 $1,926,006 $2,173,521 $2,430,013 $2,695,741 $2,970,973 $3,255,983 $3,551,051 9/26/2024
Appendix C‐3 Page 2 of 7
45 Appendix C to IFP - Pittsburg EIFD Projected Tax Increment Revenue Analysis - TOTAL EIFD DRAFT Total
New Development
Residential ‐ For‐Sale 6,053 units
$600,000 per unit $4,590,296,865
Residential ‐ Rental 2,310 units
$325,000 per unit $949,033,080
Residential ‐ Affordable 1,476 units
$0 per unit $0
Commercial 232,500 SF
$350 PSF $102,853,864
Tech Park 3,000,000 SF
$250 PSF $947,961,883
Industrial 4,024,286 SF
$175 PSF $890,136,208
Hotel 370 SF
$250,000 per room $104,208,103
Subtotal Value Add $7,584,490,003
Total Assessed Value
Incremental AV
Total tax increment @ 1%
City Average AB8 Share Available 15.33% $748,111,399
Percent Allocated to EIFD 25.0% $157,207,865
City Equivalent Share of MVLF Property Tax 6.63% $323,255,192 Percent Allocated to EIFD 25.0% $67,928,732
Total Revenues Allocated to EIFD $225,136,597
16 17 18 19 20 21 22 23
2042 2043 2044 2045 2046 2047 2048 2049
303 units 303 units 303 units 303 units 303 units
$254,263,538 $259,348,809 $264,535,785 $269,826,501 $275,223,031 $0 $0 $0 116 units 116 units 116 units 116 units 116 units
$52,568,388 $53,619,756 $54,692,151 $55,785,994 $56,901,714 $0 $0 $0 74 units 74 units 74 units 74 units 74 units
$0 $0 $0 $0 $0 $0 $0 $0
11,625 SF 11,625 SF 11,625 SF 11,625 SF 11,625 SF
$5,697,232 $5,811,177 $5,927,400 $6,045,948 $6,166,867 $0 $0 $0 150,000 SF 150,000 SF 150,000 SF 150,000 SF 150,000 SF $52,509,053 $53,559,234 $54,630,419 $55,723,027 $56,837,488 $0 $0 $0 201,214 SF 201,214 SF 201,214 SF 201,214 SF 201,214 SF $49,306,001 $50,292,121 $51,297,963 $52,323,923 $53,370,401 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$414,344,213 $422,631,097 $431,083,719 $439,705,394 $448,499,502 $0 $0 $0 $7,719,504,770 $8,296,525,963 $8,893,540,202 $9,511,116,400 $10,149,838,229 $10,352,834,994 $10,559,891,694 $10,771,089,528 $7,019,850,756 $7,596,871,949 $8,193,886,188 $8,811,462,386 $9,450,184,215 $9,653,180,980 $9,860,237,680 $10,071,435,514 $70,198,508 $75,968,719 $81,938,862 $88,114,624 $94,501,842 $96,531,810 $98,602,377 $100,714,355 $10,771,534 $11,654,316 $12,567,672 $13,512,471 $14,489,605 $14,800,853 $15,118,325 $15,442,146 $2,692,883 $2,913,579 $3,141,918 $3,378,118 $3,622,401 $3,700,213 $3,779,581 $3,860,537 $4,654,326 $5,035,772 $5,430,428 $5,838,671 $6,260,886 $6,395,374 $6,532,552 $6,672,474 $1,163,581 $1,258,943 $1,357,607 $1,459,668 $1,565,222 $1,598,844 $1,633,138 $1,668,119 $3,856,465 $4,172,522 $4,499,525 $4,837,785 $5,187,623 $5,299,057 $5,412,719 $5,528,655 9/26/2024
Appendix C‐3 Page 3 of 7
46 Appendix C to IFP - Pittsburg EIFD Projected Tax Increment Revenue Analysis - TOTAL EIFD DRAFT Total
New Development
Residential ‐ For‐Sale 6,053 units
$600,000 per unit $4,590,296,865
Residential ‐ Rental 2,310 units
$325,000 per unit $949,033,080
Residential ‐ Affordable 1,476 units
$0 per unit $0
Commercial 232,500 SF
$350 PSF $102,853,864
Tech Park 3,000,000 SF
$250 PSF $947,961,883
Industrial 4,024,286 SF
$175 PSF $890,136,208
Hotel 370 SF
$250,000 per room $104,208,103
Subtotal Value Add $7,584,490,003
Total Assessed Value
Incremental AV
Total tax increment @ 1%
City Average AB8 Share Available 15.33% $748,111,399
Percent Allocated to EIFD 25.0% $157,207,865
City Equivalent Share of MVLF Property Tax 6.63% $323,255,192 Percent Allocated to EIFD 25.0% $67,928,732
Total Revenues Allocated to EIFD $225,136,597
24 25 26 27 28 29 30 31
2050 2051 2052 2053 2054 2055 2056 2057
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$10,986,511,318 $11,206,241,545 $11,430,366,375 $11,658,973,703 $11,892,153,177 $12,129,996,241 $12,372,596,165 $12,620,048,089 $10,286,857,304 $10,506,587,531 $10,730,712,361 $10,959,319,689 $11,192,499,163 $11,430,342,227 $11,672,942,151 $11,920,394,075 $102,868,573 $105,065,875 $107,307,124 $109,593,197 $111,924,992 $114,303,422 $116,729,422 $119,203,941 $15,772,444 $16,109,348 $16,452,990 $16,803,505 $17,161,030 $17,525,706 $17,897,675 $18,277,084 $3,943,111 $4,027,337 $4,113,248 $4,200,876 $4,290,258 $4,381,426 $4,474,419 $4,569,271 $6,815,194 $6,960,769 $7,109,255 $7,260,710 $7,415,195 $7,572,770 $7,733,496 $7,897,436 $1,703,799 $1,740,192 $1,777,314 $1,815,178 $1,853,799 $1,893,192 $1,933,374 $1,974,359 $5,646,910 $5,767,529 $5,890,561 $6,016,054 $6,144,056 $6,274,619 $6,407,793 $6,543,630 9/26/2024
Appendix C‐3 Page 4 of 7
47 Appendix C to IFP - Pittsburg EIFD Projected Tax Increment Revenue Analysis - TOTAL EIFD DRAFT Total
New Development
Residential ‐ For‐Sale 6,053 units
$600,000 per unit $4,590,296,865
Residential ‐ Rental 2,310 units
$325,000 per unit $949,033,080
Residential ‐ Affordable 1,476 units
$0 per unit $0
Commercial 232,500 SF
$350 PSF $102,853,864
Tech Park 3,000,000 SF
$250 PSF $947,961,883
Industrial 4,024,286 SF
$175 PSF $890,136,208
Hotel 370 SF
$250,000 per room $104,208,103
Subtotal Value Add $7,584,490,003
Total Assessed Value
Incremental AV
Total tax increment @ 1%
City Average AB8 Share Available 15.33% $748,111,399
Percent Allocated to EIFD 25.0% $157,207,865
City Equivalent Share of MVLF Property Tax 6.63% $323,255,192 Percent Allocated to EIFD 25.0% $67,928,732
Total Revenues Allocated to EIFD $225,136,597
32 33 34 35 36 37 38 39
2058 2059 2060 2061 2062 2063 2064 2065
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$12,872,449,050 $13,129,898,031 $13,392,495,992 $13,660,345,912 $13,933,552,830 $14,212,223,887 $14,496,468,364 $14,786,397,732 $12,172,795,036 $12,430,244,017 $12,692,841,978 $12,960,691,898 $13,233,898,816 $13,512,569,873 $13,796,814,350 $14,086,743,718 $121,727,950 $124,302,440 $126,928,420 $129,606,919 $132,338,988 $135,125,699 $137,968,144 $140,867,437 $18,664,080 $19,058,817 $19,461,448 $19,872,132 $20,291,030 $20,718,306 $21,154,127 $21,598,665 $4,666,020 $4,764,704 $4,865,362 $4,968,033 $5,072,758 $5,179,576 $5,288,532 $5,399,666 $8,064,656 $8,235,219 $8,409,194 $8,586,649 $8,767,653 $8,952,276 $9,140,592 $9,332,675 $2,016,164 $2,058,805 $2,102,299 $2,146,662 $2,191,913 $2,238,069 $2,285,148 $2,333,169 $6,682,184 $6,823,509 $6,967,661 $7,114,695 $7,264,671 $7,417,646 $7,573,680 $7,732,835 9/26/2024
Appendix C‐3 Page 5 of 7
48 Appendix C to IFP - Pittsburg EIFD Projected Tax Increment Revenue Analysis - TOTAL EIFD DRAFT Total
New Development
Residential ‐ For‐Sale 6,053 units
$600,000 per unit $4,590,296,865
Residential ‐ Rental 2,310 units
$325,000 per unit $949,033,080
Residential ‐ Affordable 1,476 units
$0 per unit $0
Commercial 232,500 SF
$350 PSF $102,853,864
Tech Park 3,000,000 SF
$250 PSF $947,961,883
Industrial 4,024,286 SF
$175 PSF $890,136,208
Hotel 370 SF
$250,000 per room $104,208,103
Subtotal Value Add $7,584,490,003
Total Assessed Value
Incremental AV
Total tax increment @ 1%
City Average AB8 Share Available 15.33% $748,111,399
Percent Allocated to EIFD 25.0% $157,207,865
City Equivalent Share of MVLF Property Tax 6.63% $323,255,192 Percent Allocated to EIFD 25.0% $67,928,732
Total Revenues Allocated to EIFD $225,136,597
40 41 42 43 44 45 46 47
2066 2067 2068 2069 2070 2071 2072 2073
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$15,082,125,686 $15,383,768,200 $15,691,443,564 $16,005,272,435 $16,325,377,884 $16,651,885,442 $16,984,923,151 $17,324,621,614 $14,382,471,672 $14,684,114,186 $14,991,789,550 $15,305,618,421 $15,625,723,870 $15,952,231,428 $16,285,269,137 $16,624,967,600 $143,824,717 $146,841,142 $149,917,896 $153,056,184 $156,257,239 $159,522,314 $162,852,691 $166,249,676 $22,052,093 $22,514,590 $22,986,337 $23,467,518 $23,958,324 $24,458,945 $24,969,579 $25,490,426 $5,513,023 $5,628,647 $5,746,584 $5,866,880 $5,989,581 $6,114,736 $885,986 $906,665 $9,528,599 $9,728,442 $9,932,281 $10,140,197 $10,352,272 $10,568,588 $10,789,230 $11,014,286 $2,382,150 $2,432,110 $2,483,070 $2,535,049 $2,588,068 $2,642,147 $382,830 $391,766 $7,895,173 $8,060,758 $8,229,654 $8,401,929 $8,577,649 $8,756,883 $1,268,816 $1,298,431 9/26/2024
Appendix C‐3 Page 6 of 7
49 Appendix C to IFP - Pittsburg EIFD Projected Tax Increment Revenue Analysis - TOTAL EIFD DRAFT Total
New Development
Residential ‐ For‐Sale 6,053 units
$600,000 per unit $4,590,296,865
Residential ‐ Rental 2,310 units
$325,000 per unit $949,033,080
Residential ‐ Affordable 1,476 units
$0 per unit $0
Commercial 232,500 SF
$350 PSF $102,853,864
Tech Park 3,000,000 SF
$250 PSF $947,961,883
Industrial 4,024,286 SF
$175 PSF $890,136,208
Hotel 370 SF
$250,000 per room $104,208,103
Subtotal Value Add $7,584,490,003
Total Assessed Value
Incremental AV
Total tax increment @ 1%
City Average AB8 Share Available 15.33% $748,111,399
Percent Allocated to EIFD 25.0% $157,207,865
City Equivalent Share of MVLF Property Tax 6.63% $323,255,192 Percent Allocated to EIFD 25.0% $67,928,732
Total Revenues Allocated to EIFD $225,136,597
48 49 50
2074 2075 2076
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$17,671,114,046 $18,024,536,327 $18,385,027,053
$16,971,460,032 $17,324,882,313 $17,685,373,039
$169,714,600 $173,248,823 $176,853,730
$26,021,690 $26,563,578 $27,116,305
$927,759 $0 $0
$11,243,842 $11,477,989 $11,716,820
$400,880 $0 $0
$1,328,639 $0 $0
9/26/2024
Appendix C‐3 Page 7 of 7
50 Appendix D to IFP - Pittsburg EIFD Fiscal Impact Analysis DRAFT Overview of Fiscal Impacts Key Land Use Assumptions (Stabilized Year 20) Annual
(Stablized
Year 20)
Year 0-50
Nominal
Total
Year 0-50
Present Value
@ 3.0%
City of Pittsburg For-Sale Residential 6,053 DU
Estimated Fiscal Revenues (Net of EIFD Allocation) $35,941,275 $1,982,058,000 $763,251,300 Rental Residential 2,310 DU Estimated Fiscal Expenditures $29,536,000 $1,707,552,500 $643,367,800 Affordable Residential 1,476 DU Estimated Net Fiscal Impact to City $6,405,275 $274,505,500 $119,883,500 Tech Park / Office 3,000,000 SF Industrial 4,024,286 SF
Commercial / Retail 232,500 SF
Hotel 370 rooms
Notes:

Assumes installation of necessary public infrastructure Values in 2024 dollars
Project Component
9/26/2024

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51 Appendix D to IFP - Pittsburg EIFD Fiscal Impact Analysis DRAFT Summary of Estimated Fiscal Impacts to City Stablized
Year 5 Year 10 Year 20 Year 30 Year 40 Year 50 Year 55
2031 2036 2046 2056 2066 2076 2081
Stabilized
Escalation
Rate
Year 0-50
Nominal
Total
Year 0-50
Present Value @

3.0%
City of Pittsburg Revenues
Property Tax $2,569,600 $5,674,200 $13,833,500 $16,862,959 $20,555,853 $25,057,470 $27,665,472 2.0% $701,127,500 $275,611,300 Property Tax Allocation to EIFD ($642,400) ($1,418,500) ($3,458,400) ($4,215,770) ($5,139,000) ($6,264,413) $0 2.0% ($175,283,000) ($68,903,200) Property Tax In-Lieu of MVLF $1,128,000 $2,464,500 $5,917,300 $7,213,156 $8,792,797 $10,718,370 $11,833,946 2.0% $300,321,000 $118,193,300 Property Tax In-Lieu of MVLF Allocation to EIFD ($282,000) ($616,125) ($1,479,325) ($1,803,289) ($2,198,199) ($2,679,592) $0 2.0% ($75,080,200) ($29,548,300) Property Transfer Tax $44,900 $99,200 $241,800 $294,753 $359,302 $437,987 $483,573 2.0% $12,255,200 $4,817,500 Sales and Use Tax (incl. Measure M) - Direct / On-Site $300,200 $696,000 $1,870,700 $2,514,064 $3,378,692 $4,540,680 $5,263,892 3.0% $108,120,000 $40,726,800 Sales and Use Tax (incl. Measure M) - Indirect / Off-Site $685,000 $1,569,400 $4,146,600 $5,572,684 $7,489,221 $10,064,887 $11,667,962 3.0% $239,953,100 $90,488,000 Transient Occupancy Tax (TOT) $1,158,300 $1,987,400 $2,670,900 $3,589,466 $4,823,942 $6,482,975 $7,515,545 3.0% $165,356,600 $66,102,000 Business Licenses $98,500 $223,400 $581,700 $781,756 $1,050,615 $1,411,939 $1,636,824 3.0% $33,697,500 $12,720,000 Other Taxes $38,700 $89,300 $239,100 $321,330 $431,841 $580,358 $672,795 3.0% $13,823,400 $5,208,500 Public Safety - Prop 172 Sales Tax $36,200 $83,300 $221,200 $297,274 $399,512 $536,910 $622,426 3.0% $12,795,300 $4,823,500 Franchise Fees $487,400 $1,126,500 $3,014,200 $4,050,833 $5,443,980 $7,316,255 $8,481,544 3.0% $174,265,900 $65,662,000 Service Fees [1] $203,900 $472,700 $1,270,500 $1,707,446 $2,294,664 $3,083,837 $3,575,012 3.0% $73,430,300 $27,659,700 Use of Money and Property $19,900 $45,900 $122,800 $165,033 $221,790 $298,068 $345,542 3.0% $7,100,100 $2,675,400 Fines and Forfeitures $41,900 $96,900 $259,200 $348,343 $468,144 $629,146 $729,353 3.0% $14,985,500 $5,646,400 Permits, Licenses & Fees $0 $0 $0 $0 $0 $0 $0 3.0% $0 $0 Intergovernmental Revenues [2] $354,100 $818,300 $2,189,500 $2,942,505 $3,954,481 $5,314,491 $6,160,952 3.0% $126,585,900 $47,696,500 Other Revenues (excl. planning fees) $212,600 $491,400 $1,314,800 $1,766,981 $2,374,675 $3,191,365 $3,699,666 3.0% $76,015,000 $28,641,900 Transfers In $482,700 $1,115,700 $2,985,200 $4,011,859 $5,391,603 $7,245,864 $8,399,942 3.0% $172,588,900 $65,030,000 Estimated Total Revenues $6,937,500 $15,019,47 5 $35,941,275 $46,421,384 $60,093,914 $77,966,597 $98,754,449 $1,982,058,000 $763,251,300 City of Pittsburg Expenditures
Administration $379,000 $875,900 $2,343,600 $3,149,602 $4,232,802 $5,688,532 $6,594,568 3.0% $135,495,200 $51,053,500 City Council $6,500 $15,000 $40,000 $53,757 $72,244 $97,090 $112,554 3.0% $2,312,900 $871,600 Community Development $418,900 $971,300 $2,610,800 $3,508,697 $4,715,395 $6,337,097 $7,346,432 3.0% $150,894,700 $56,839,000 Police Department $3,395,100 $7,846,800 $20,995,800 $28,216,600 $37,920,750 $50,962,317 $59,079,293 3.0% $1,213,871,800 $457,377,500 Public Works $378,600 $875,100 $2,341,400 $3,146,646 $4,228,829 $5,683,192 $6,588,378 3.0% $135,368,100 $51,005,600 Recreation $193,300 $448,100 $1,204,400 $1,618,613 $2,175,280 $2,923,395 $3,389,016 3.0% $69,609,800 $26,220,600 Estimated Total Expenditures $4,771,400 $11,032,200 $29,536,000 $39,693,91 4 $53,345,301 $71,691,62 4 $83,110,241 $1,707,552,500 $643,367,800 Estimated Annual Net Fiscal Impact $2,166,100 $3,987,275 $6,405,275 $6,727,470 $6,748,613 $6,274,973 $15,644,207 $274,505,500 $119,883,500 Revenue / Cost Ratio 1.45 1.36 1.22 1.17 1.13 1.09 1.19 1.16 1.19 Notes:

Assumes installation of necessary public infrastructure Values in 2024 dollars
Select years shown for illustration
9/26/2024

Page 2 of 15 ends

52 Appendix D to IFP - Pittsburg EIFD Fiscal Impact Analysis DRAFT Project Description
Year 5 Year 10 Year 20
Project Component 2031 2036 2046
For-Sale Residential 1,513 DU 3,026 DU 6,053 DU
Rental Residential 578 DU 1,155 DU 2,310 DU
Affordable Residential 369 DU 738 DU 1,476 DU
Total Residential Dwelling Units 2,460 DU 4,920 DU 9,839 DU Hotel 250 rooms 370 rooms 370 rooms
Tech Park / Office 750,000 SF 1,500,000 SF 3,000,000 SF Commercial / Retail 58,125 SF 116,250 SF 232,500 SF
Industrial 1,006,071 SF 2,012,143 SF 4,024,286 SF
Total Non-Residential SF 1,814,196 SF 3,628,393 SF 7,256,786 SF Annual Escalation Factor 2.0% 1.10 1.22 1.49
Estimated A/V - Single Family Residential $600K Per Unit $1,002,425,323 $2,213,517,113 $5,396,530,017 Estimated A/V - Multifamily Residential $325K Per Unit $207,249,078 $457,639,456 $1,115,719,887 Estimated A/V - Affordable Residential $0K Per Unit $0 $0 $0 Estimated A/V - Hotel $250K Per Room $69,005,050 $112,756,984 $137,450,134 Estimated A/V - Tech Park / Office $250 PSF $207,015,151 $457,122,907 $1,114,460,547 Estimated A/V - Commercial Retail $350 PSF $22,461,144 $49,597,835 $120,918,969 Estimated A/V - Industrial $175 PSF $194,387,226 $429,238,410 $1,046,478,454 Total Estimated Assessed Value $1,702,542,972 $3,719,872,706 $8,931,558,009 Notes:

Adjusted for value appreciation assuming 2% annual escalation rate (statuatory maximum).

Conservatively assuming no mark-to-market valuations above 2% growth to account for property transfers Select years shown for illustration
Values in 2024 dollars
9/26/2024

Page 3 of 15 ends

53 Appendix D to IFP - Pittsburg EIFD Fiscal Impact Analysis DRAFT Project Employment and Occupants
Year 5 Year 10 Year 20
Project Component 2031 2036 2046
For-Sale Residential 1,513 DU 3,026 DU 6,053 DU
Rental Residential 578 DU 1,155 DU 2,310 DU
Affordable Residential 369 DU 738 DU 1,476 DU
Hotel 250 rooms 370 rooms 370 rooms
Tech Park / Office 750,000 SF 1,500,000 SF 3,000,000 SF Commercial / Retail 58,125 SF 116,250 SF 232,500 SF
Industrial 1,006,071 SF 2,012,143 SF 4,024,286 SF
Estimated # Employees (FTE)
For-Sale Residential 0 DU / emp 000
Rental Residential 50 DU / emp 12 23 46
Affordable Residential 50 DU / emp 71 53 0
Hotel 1.5 rooms / emp 167 247 247
Tech Park / Office 750 SF / emp 1,000 2,000 4,000
Commercial / Retail 400 SF / emp 145 291 581
Industrial 1,500 SF / emp 671 1,341 2,683
Total Estimated # Employees (FTE) 2,002 3,917 7,586
Occupied Dwelling Units 95% 1,986 DU 3,972 DU 7,945 DU
Residents 2.95 per DU 5,859 11,719 23,438
Employees Weighted at 50% 50% 1,001 1,958 3,793
Total Service Population (Residents + Empl.) 6,860 13,677 27,231 Occupied Hotel Rooms 70% 175 rooms 259 rooms 259 rooms
Hotel Guests 1.5 per room 263 389 389
Notes:

Average household size reflects City average household size and mix of single famliy and multifamily units Select years shown for illustration
Values in 2024 dollars
9/26/2024

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54 Appendix D to IFP - Pittsburg EIFD Fiscal Impact Analysis DRAFT Property Tax
Year 5 Year 10 Year 20
2031 2036 2046
Estimated Assessed Value - Residential $1,209,674,401 $2,671,156,569 $6,512,249,905 Estimated Assessed Value - Non-Residential $423,863,521 $935,959,153 $2,281,857,970 Total Estimated Assessed Value $1,633,537,922 $3,607,115,722 $8,794,107,875 Total Secured Property Tax General Levy 1.00% $16,335,379 $36,071,157 $87,941,079 Estimated Unsecured Property Tax as % of Secured Non-Residential Value 10.00% $423,864 $935,959 $2,281,858 Total Estimated Secured + Unsecured Property Tax $16,759,243 $37,007,116 $90,222,937 Distributions to Taxing Entities
City of Pittsburg General Fund 15.33% $2,569,600 $5,674,200 $13,833,500 City Allocation to EIFD (3.83%) ($642,400) ($1,418,500) ($3,458,400) Net Property Tax to City 11.50% $1,927,200 $4,255,700 $10,375,100 Notes:

General levy distributions weighted average of targeted opportunity site tax rate areas (TRAs) Does not include property tax overrides above 1% general levy Select years shown for illustration
Values in 2024 dollars
Source: Contra Costa County Auditor-Controller (2024)
9/26/2024

Page 5 of 15 ends

55 Appendix D to IFP - Pittsburg EIFD Fiscal Impact Analysis DRAFT Property Tax In-Lieu of Motor Vehicle License Fees (MVLF) Total AV within CITY $8,070,706,883
Current Property Tax In-Lieu of MVLF $5,346,962
Prop Tax In-Lieu of MVLF per $1M of AV $663
Year 1 Year 5 Year 10 Year 20
2027 2031 2036 2046
Estimated Project Assessed Value $301,827,308 $1,702,542,972 $3,719,872,706 $8,931,558,009 Incremental Property Tax In-Lieu of MVLF to City $200,000 $1,128,000 $2,464,500 $5,917,300 City Allocation to EIFD ($50,000) ($282,000) ($616,125) ($1,479,325) Net Incremental Property Tax In-Lieu of MVLF to City $150,000 $846,000 $1,848,375 $4,437,975 Notes:

Select years shown for illustration
Values in 2024 dollars
Source: Contra Costa County Auditor-Controller (2024)
9/26/2024

Page 6 of 15 ends

56 Appendix D to IFP - Pittsburg EIFD Fiscal Impact Analysis DRAFT Property Transfer Tax
Year 5 Year 10 Year 20
2031 2036 2046
Estimated Assessed Value $1,633,537,922 $3,607,115,722 $8,794,107,875 Estimated Property Turnover Rate 5.0% 5.0% 5.0%
Estimated Value of Property Transferred $81,676,896 $180,355,786 $439,705,394 Total Transfer Tax $1.10 per $1,000 $89,800 $198,400 $483,700 Transfer Tax to City $0.55 per $1,000 $44,900 $99,200 $241,800 Notes:

Select years shown for illustration
Values in 2024 dollars
Source: Contra Costa County Auditor-Controller (2024)
9/26/2024

Page 7 of 15 ends

57 Appendix D to IFP - Pittsburg EIFD Fiscal Impact Analysis DRAFT Sales Tax - Direct / On-Site
Year 5 Year 10 Year 20
Project Component 2031 2036 2046
Retail SF 58,125 SF 116,250 SF 232,500 SF
Total Sales-Generating SF 58,125 SF 116,250 SF 232,500 SF Estimated Taxable Sales $275 PSF $18,530,272 $42,963,327 $115,478,237 Sales Tax to City (Bradley-Burns) 1.00% $185,303 $429,633 $1,154,782 Measure M Sales Tax 0.50% $92,651 $214,817 $577,391
Use Tax as % of Sales Tax (Bradley-Burns) 12.00% $22,236 $51,556 $138,574 Sales and Use Tax to City - Direct $300,200 $696,000 $1,870,700 Notes:

Measure M assumed to continue beyond current 2035 sunset County sales tax per Proposition 172 (0.5%), Revenue and Taxation Code Section 7203.1 (0.25%) Taxable sales PSF factor escalated 3% annually
Select years shown for illustration.

Values in 2024 dollars.
9/26/2024

Page 8 of 15 ends

58 Appendix D to IFP - Pittsburg EIFD Fiscal Impact Analysis DRAFT Sales Tax - Indirect / Off-Site
Year 5 Year 10 Year 20
2031 2036 2046
Estimated # Employees 2,002 3,917 7,586
Estimated Annual Taxable Retail Spending / Empl. $6,902 $8,001 $10,753 Estimated Employee Taxable Retail Spending $13,814,454 $31,336,068 $81,573,827 Estimated Capture within City 50.0% $6,907,227 $15,668,034 $40,786,913 Estimated # Occupied Dwelling Units 1,986 DU 3,972 DU 7,945 DU Estimated Annual Taxable Retail Spending / HH $36,406 $42,204 $56,719 Estimated Resident Taxable Retail Spending $72,310,706 $167,655,853 $450,630,895 Estimated Capture within City 50.0% $36,155,353 $83,827,927 $225,315,447 Estimated # Occupied Hotel Rooms 175 rooms 259 rooms 259 rooms Estimated Annual Taxable Retail Spending / Room $27,504 $31,884 $42,850 Estimated Resident Taxable Retail Spending $4,813,161 $8,258,064 $11,098,147 Estimated Capture within City 30.0% $1,443,948 $2,477,419 $3,329,444 Total Estimated Indirect Taxable Sales $44,506,528 $101,973,380 $269,431,805 Less Estimated Capture Within District Retail (5.0%) ($2,225,326) ($5,098,669) ($13,471,590) Net Indirect Taxable Sales $42,281,202 $96,874,711 $255,960,215 Sales Tax to City (Bradley-Burns) 1.00% $422,812 $968,747 $2,559,602 Measure M Sales Tax 0.50% $211,406 $484,374 $1,279,801
Use Tax as % of Sales Tax (Bradley-Burns) 12.00% $50,737 $116,250 $307,152 Sales and Use Tax to City - Indirect $685,000 $1,569,400 $4,146,600 Notes:

County sales tax for transportation per Measure J (0.5%), Revenue and Taxation Code Section 7203.1 (0.25%) Measure M assumed to continue beyond current 2035 sunset Employee spending estimates based on "Office Worker Retail Spending Patterns: A Downtown and Suburban Area Study," ICSC (2004).

Household spending based on average houshold income within City.

Adjusted for inflation assuming 3% annual inflation rate.

Select years shown for illustration.

Values in 2024 dollars.
9/26/2024

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59 Appendix D to IFP - Pittsburg EIFD Fiscal Impact Analysis DRAFT Transient Occupancy Tax ("TOT") to City
Year 5 Year 10 Year 15 Year 20
2031 2036 2041 2046
Estimated # Hotel Rooms 250 rooms 370 rooms 370 rooms 370 rooms Average Daily Room Rate (ADR) $174 $202 $234 $271
Average Occupancy Rate 73% 73% 73% 73%
Annual Hotel Room Receipts $11,583,322 $19,873,802 $23,039,183 $26,708,728 TOT to City 10.00% $1,158,300 $1,987,400 $2,303,900 $2,670,900 Notes:

Adjusted for inflation assuming 3% annual inflation rate.

Select years shown for illustration.

Values in 2024 dollars.
9/26/2024

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60 Appendix D to IFP - Pittsburg EIFD Fiscal Impact Analysis DRAFT City Service Population
City Population 74,809
City Employee Population 14,134
Employee Weighting for Service Population 0.5
Weighted # Employees 7,067
Total City Service Population 81,876
Source: CA Department of Finance, CA Employment Development Department (2024) 9/26/2024

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61 Appendix D to IFP - Pittsburg EIFD Fiscal Impact Analysis DRAFT City Multipler Revenue and Expenditure Factors
Year 5 Year 10 Year 20
Budget Category
Adopted City
Budget Allocation Basis
Relevant City
Population /
Factor
Discount for
Operational
Efficiency
Per Capita
Factor
Annual
Escalation 2031 2036 2046
General Fund Revenues
Property Taxes $4,730,884 Evaluated Separately
Sales Taxes $20,527,100 Evaluated Separately
Property Tax in lieu of MVLF $5,860,000 Evaluated Separately Transient Occupancy Tax $500,000 Evaluated Separately
Business Licenses $600,000 Per Employee 14,134 0% $42.45 3.0% $49.21 $57.05 $76.67 Other Taxes $398,000 Service Population 81,876 0% $4.86 3.0% $5.64 $6.53 $8.78 Public Safety - Prop 172 Sales Tax $754,500 % of City Sales Tax $20,527,100 0% 3.7% N/A 3.7% 3.7% 3.7% Franchise Fees $5,017,845 Service Population 81,876 0% $61.29 3.0% $71.05 $82.36 $110.69 Service Fees [1] $2,245,297 Per Resident 74,809 0% $30.01 3.0% $34.79 $40.34 $54.21 Use of Money and Property $562,162 % of Other Revenues $55,275,560 0% 1.0% N/A 1.0% 1.0% 1.0% Fines and Forfeitures $431,451 Service Population 81,876 0% $5.27 3.0% $6.11 $7.08 $9.52 Permits, Licenses & Fees $3,407,134 N/A Non-Recurring
Intergovernmental Revenues [2] $3,645,000 Service Population 81,876 0% $44.52 3.0% $51.61 $59.83 $80.41 Other Revenues (excl. planning fees) $2,188,778 Service Population 81,876 0% $26.73 3.0% $30.99 $35.93 $48.28 Transfers In $4,969,571 Service Population 81,876 0% $60.70 3.0% $70.36 $81.57 $109.62 Total Selected Revenues $55,837,722
General Fund Expenditures
Administration $7,802,954 Service Population 81,876 50% $47.65 3.0% $55.24 $64.04 $86.06 City Council $133,282 Service Population 81,876 50% $0.81 3.0% $0.94 $1.09 $1.47 Community Development $6,733,059 Service Population 81,876 25% $61.68 3.0% $71.50 $82.89 $111.39 Police Department $34,952,767 Service Population 81,876 0% $426.90 3.0% $494.89 $573.72 $771.03 Public Works $5,197,127 Service Population 81,876 25% $47.61 3.0% $55.19 $63.98 $85.98 Recreation $2,837,905 Per Resident 74,809 25% $28.45 3.0% $32.98 $38.24 $51.39 Total Selected Expenditures $57,657,094
Notes:
[1] Service fees for building, engineering, planning, public works and other non-recurring fees not included [2] Intergovernmental revenues exclude Grants, RDA AB-1290 / City Pass Through Adjusted for inflation assuming 3% annual inflation rate.

Select years shown for illustration.

Values in 2024 dollars.

Source: City of Pittsburg 2022-2023 Adopted Budget
9/26/2024

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62 Appendix D to IFP - Pittsburg EIFD Fiscal Impact Analysis DRAFT City Multipler Revenues and Expenditures
Year 5 Year 10 Year 20
2031 2036 2046
Estimated # Residents 5,859 11,719 23,438
Estimated # Employees 2,002 3,917 7,586
Total Project Service Population 6,860 13,677 27,231
Budget Category 2031 2036 2046
Revenues
Business Licenses $98,500 $223,400 $581,700
Other Taxes $38,700 $89,300 $239,100
Public Safety - Prop 172 Sales Tax $36,200 $83,300 $221,200 Franchise Fees $487,400 $1,126,500 $3,014,200
Service Fees [1] $203,900 $472,700 $1,270,500
Use of Money and Property $19,900 $45,900 $122,800
Fines and Forfeitures $41,900 $96,900 $259,200
Permits, Licenses & Fees $0 $0 $0
Intergovernmental Revenues [2] $354,100 $818,300 $2,189,500 Other Revenues (excl. planning fees) $212,600 $491,400 $1,314,800 Transfers In $482,700 $1,115,700 $2,985,200
Total Multiplier Revenues $1,975,900 $4,563,400 $12,198,200 Expenditures
Administration $379,000 $875,900 $2,343,600
City Council $6,500 $15,000 $40,000
Community Development $418,900 $971,300 $2,610,800
Police Department $3,395,100 $7,846,800 $20,995,800
Public Works $378,600 $875,100 $2,341,400
Recreation $193,300 $448,100 $1,204,400
Total Multiplier Expenditures $4,771,400 $11,032,200 $29,536,000 Notes:

Adjusted for inflation assuming 3% annual inflation rate.

Select years shown for illustration.

Values in 2024 dollars.

Source: City of Pittsburg 2022-2023 Adopted Budget
9/26/2024

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63 Appendix D to IFP - Pittsburg EIFD Fiscal Impact Analysis DRAFT IMPLAN Inputs
Construction Inputs
Industry NAICS Category
Approximate Inputs
(Industry Spending)
57 - Construction of new single family residential structures $3,158,008,696 58 - Construction of new multifamily residential structures $1,069,998,913 55 - Construction of new commercial structures, including farm structures $803,369,565 51 - Construction of new manufacturing structures $612,391,304 Ongoing Operation Inputs
Industry NAICS Category
Approximate Inputs
(Employment Change)
470 - Office administrative services 4,000 Jobs
412 - Retail - Miscellaneous store retailers 581 Jobs
422 - Warehousing and storage 2,683 Jobs
507 - Hotels and motels, including casino hotels 247 Jobs 476 - Services to buildings 76 Jobs
9/26/2024

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64 Appendix D to IFP - Pittsburg EIFD Fiscal Impact Analysis DRAFT Summary of IMPLAN Economic Benefits
Economic Benefits from Construction (One-Time / Short-Term) Employment Labor Income Economic Output
Direct (On-Site) 33,355 $3,274,194,297 $5,643,768,478
Indirect 5,246 $398,853,108 $1,158,205,725
Induced 7,207 $493,155,688 $1,407,759,214
Total Countywide 45,809 $4,166,203,093 $8,209,733,417
Estimated City Capture 33,978 $3,318,794,736 $5,772,066,725 Economic Benefits from Ongoing Operation (Annual)
Employment Labor Income Economic Output
Direct (On-Site) 7,586 $499,594,596 $703,009,824
Indirect 1,490 $122,000,307 $288,873,285
Induced 1,196 $81,949,792 $233,897,166
Total Countywide 10,272 $703,544,695 $1,225,780,275
Estimated City Capture 7,721 $509,792,101 $729,148,347
Notes
100% of direct benefits estimated to be captured on-site within the City. 5% of indirect and induced benefits estimated to be captured off-site within the City.

Estimated ongoing benefits upon build-out and stabilization. 9/26/2024

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65 Public Financing Authority EIFD Minutes 1 of 1 January 21, 2025

CITY OF PITTSBURG

PUBLIC FINANCING AUTHORITY OF THE PITTSBURG ENHANCED

INFRASTRUCTURE FINANCING DISTRICT

MEETING MINUTES
DATE: January 21, 2025
LOCATION: Council Chamber, City Hall, 65 Civic Avenue, Pittsburg, CA 94565

BOARD MEMBERS
Jelani Killings, Chair
Dionne Adams, Vice-Chair
Juan Antonio Banales, Board Member
Gerard D’Cruz, Board Member
Nancy Parent, City Treasurer/Board Member

APPOINTED OFFICIALS
Garrett Evans, City Manager/Executive Director
Donna Mooney, City Attorney/Legal Counsel
Melaine Venenciano, Board Secretary

CALL TO ORDER
Chair Killings called the Special meeting of the Public Financing Authority of the Pittsburg Enhanced Infrastructure Financing District (EIFD) to order at 6:00 P.M. in the Council Chamber, City Hall, 65 Civic Avenue, Pittsburg, CA 94565.

ROLL CALL
All members were present.

PLEDGE OF ALLEGIANCE
Chair Killings led the pledge.

PUBLIC COMMENTS
There were no public comments.

PRESENTATION

1. Draft Infrastructure Financing Plan for the Pittsburg Enhanced Infrastructure Financing District
Board Member Banales recused himself due to a Financial conflict of interest.

Employer is subject to one or more parcels included in the plan.

ADJOURNMENT
The Public Financing Authority of the EIFD adjourned at 6:36 P.M.

Respectfully submitted,
Melaine Venenciano, Board Secretary
66

Pittsburg City CouncilMarch 3, 2025

Pittsburg City Council
March 3, 2025