ATTACHMENT A-5
FISCAL IMPACT STUDY
($15,000)
($10,000)
($5,000)
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$28,089
($11,613)
$16,476
Total Recurring General
Fund Revenues
Total Recurring General
Fund Expenditures
Net Fiscal Impact
($30,000)
($20,000)
($10,000)
$0
$10,000
$20,000
$30,000
$40,000
$33,412
($27,274)
$6,138
Total Recurring General
Fund Revenues
Total Recurring General
Fund Expenditures
Net Fiscal Impact
PROJECT SUMMARY
CITY OF SAN MARCOS
PICO AVENUE RESIDENTIAL PROJECT
FISCAL IMPACT SUMMARY
FISCAL IMPACT ANALYSIS
CITY BUDGET SUMMARY
DEMOGRAPHICS
CASE STUDY REVENUES
CASE STUDY EXPENDITURES
MULTIPLIER REVENUES
MULTIPLIER EXPENDITURES
RECURRING GENERAL FUND REVENUES1 AMOUNT % OF TOTAL AMOUNT % OF TOTAL SECURED PROPERTY TAX $10,780 38.4% $15,417 46.1%
UNSECURED PROPERTY TAX $409 1.5% $424 1.3%
PROPERTY TRANSFER TAX $257 0.9% $564 1.7%
PROPERTY TAX IN-LIEU OF VEHICLE LICENSE FEE $3,346 11.9% $6,535 19.6% DIRECT AND INDIRECT SALES TAX $10,149 36.1% $2,907 8.7% FRANCHISE FEES $618 2.2% $1,452 4.3%
LICENSES AND PERMITS $200 0.7% $470 1.4%
FINES AND FORFEITURES $43 0.2% $100 0.3%
CFD REVENUE $2,288 8.1% $5,544 16.6%
TOTAL RECURRING GENERAL FUND REVENUES $28,089 100.0% $33,412 100.0% RECURRING GENERAL FUND EXPENDITURES2 AMOUNT % OF TOTAL AMOUNT % OF TOTAL PUBLIC WORKS $1,646 14.174% $3,866 14.175%
DEVELOPMENT SERVICES $1,048 9.024% $2,461 9.023%
PUBLIC SAFETY $5,601 48.230% $13,154 48.229%
PARKS AND RECREATION $272 2.342% $639 2.343%
OTHER FINANCING USES $18 0.155% $43 0.158%
GENERAL GOVERNMENT $3,028 26.074% $7,111 26.072%
TOTAL RECURRING GENERAL FUND EXPENDITURES $11,613 100.0% $27,274 100.0%
NET FISCAL IMPACT
TOTAL ANNUAL RECURRING GENERAL FUND SURPLUS/(DEFICIT)
TOTAL ANNUAL REVENUE/EXPENDITURE RATIO
NOTES:
1 Please see Exhibits 5-7 and 9 for the derivation of these calculations. 2 Please see Exhibits 8 and 10 for the derivation of these calculations. *All figures subject to rounding
APPROVED PLAN PROPOSED PLAN
EXHIBIT 1
CITY OF SAN MARCOS
FISCAL IMPACT SUMMARY
APPROVED PLAN PROPOSED PLAN
PICO AVENUE RESIDENTIAL PROJECT
APPROVED PLAN PROPOSED PLAN
$16,476
2.42 $6,138
1.23
TOTAL GROSS ACRES BUILDING BUILDING ESTIMATED TOTAL BUILDING BUILDING ESTIMATED ESTIMATED TOTAL BUILDING BUILDING ESTIMATED TOTAL BUILDING BUILDING ESTIMATED ESTIMATED TOTAL
SPACE SPACE VALUE ESTIMATED SPACE SPACE VALUE AVERAGE ESTIMATED SPACE SPACE VALUE ESTIMATED SPACE SPACE VALUE AVERAGE ESTIMATED LAND USE TYPE ACRES1 SF1 BSF VALUE2 ACRES1 UNITS1 SF1 BSF VALUATION 2,3 VALUE2 ACRES1 SF1 BSF VALUE2 ACRES1 UNITS1 SF1 BSF VALUATION2,3 VALUE2 GRAND TOTAL 0.68 0.09 3,750 $439 $1,646,250 0.16 6 6,996 $550 $641,000 $3,846,000 0.00 0 $0 $0 0.43 16 18,656 $550 $0 $10,256,000 NON-RESIDENTIAL 0.09 3,750 $1,646,250
COMMERCIAL RETAIL 0.09 3,750 $439 $1,646,250
RESIDENTIAL
NON-RESIDENTIAL 0.00 0 $0 $0
- 0.00 0 $0 $0
RESIDENTIAL 0.16 6 6,996 $550 $641,000 $3,846,000 0.43 16 18,656 $10,256,000 CONDOMINIUMS 0.16 6 6,996 $550 $641,000 $3,846,000 0.43 16 18,656 $550 $641,000 $10,256,000 NOTES
1 Source: City of San Marcos.
2 Source: Zonda Research
3 "Estimated average sale price" refers to the Estimated closing price per Zonda assumptions. 4 Source: Zonda Research, "Pico Aavenue 2023".
* Totals may not sum due to rounding
EXHIBIT 2
CITY OF SAN MARCOS
PROJECT SUMMARY
PICO AVENUE RESIDENTIAL PROJECT
PROPOSED PLANAPPROVED PLAN
POPULATION, HOUSEHOLDS, AND EMPLOYMENT (2023)
POPULATION1 94,530 94,530
EMPLOYMENT2 41,800 41,800
TOTAL PERSONS SERVED3 115,430 115,430
HOUSEHOLDS 1 19,713 19,713
MFR AVERAGE HOUSEHOLD SIZE1 2.46 2.46
NOTES
1 California Department of Finance, Housing and Population Information, January 1, 2023 and US Census. 2 Source: Calif. Employment Development Dept. June 2023 EXHIBIT 3
CITY OF SAN MARCOS
PICO AVENUE RESIDENTIAL PROJECT
CITY DEMOGRAPHICS
3 Assumes City population plus 50% of employees.
TOTAL GROSS ACRES BUILDING BUILDING ESTIMATED TOTAL BUILDING BUILDING ESTIMATED ESTIMATED TOTAL BUILDING BUILDING ESTIMATED TOTAL BUILDING BUILDING ESTIMATED ESTIMATED TOTAL
SPACE SPACE VALUE ESTIMATED SPACE SPACE VALUE AVERAGE ESTIMATED SPACE SPACE VALUE ESTIMATED SPACE SPACE VALUE AVERAGE ESTIMATED LAND USE TYPE ACRES1 SF1 BSF VALUE2 ACRES1 UNITS1 SF1 BSF VALUATION 2,3 VALUE2 ACRES1 SF1 BSF VALUE2 ACRES1 UNITS1 SF1 BSF VALUATION2,3 VALUE2 GRAND TOTAL 0.68 0.09 3,750 $439 $1,646,250 0.16 6 6,996 $550 $641,000 $3,846,000 0.00 0 $0 $0 0.43 16 18,656 $550 $0 $10,256,000 NON-RESIDENTIAL 0.09 3,750 $1,646,250
COMMERCIAL RETAIL 0.09 3,750 $439 $1,646,250
RESIDENTIAL
NON-RESIDENTIAL 0.00 0 $0 $0
- 0.00 0 $0 $0
RESIDENTIAL 0.16 6 6,996 $550 $641,000 $3,846,000 0.43 16 18,656 $10,256,000 CONDOMINIUMS 0.16 6 6,996 $550 $641,000 $3,846,000 0.43 16 18,656 $550 $641,000 $10,256,000 NOTES
1 Source: City of San Marcos.
2 Source: Zonda Research
3 "Estimated average sale price" refers to the Estimated closing price per Zonda assumptions. 4 Source: Zonda Research, "Pico Aavenue 2023".
* Totals may not sum due to rounding
EXHIBIT 2
CITY OF SAN MARCOS
PROJECT SUMMARY
PICO AVENUE RESIDENTIAL PROJECT
PROPOSED PLANAPPROVED PLAN
APPROVED PROPOSED
LAND USE TYPE PLAN PLAN
ALL PROPERTY TAXES
SECURED PROPERTY TAXES $10,780 $15,417
UNSECURED PROPERTY TAXES $409 $424
PROPERTY TRANSFER TAXES $257 $564
PROPERTY TAX IN-LIEU OF VLF $3,346 $6,535
GRAND TOTAL ALL PROPERTY TAXES $14,791 $22,940
RESIDENTIAL PROPERTY TAXES
SECURED PROPERTY TAXES $8,280 $15,417
UNSECURED PROPERTY TAXES $159 $424
PROPERTY TRANSFER TAXES $212 $564
PROPERTY TAX IN-LIEU OF VLF $2,359 $6,535
TOTAL RESIDENTIAL PROPERTY TAXES $11,010 $22,940
NON-RESIDENTIAL PROPERTY TAXES
SECURED PROPERTY TAXES $2,499 $0
UNSECURED PROPERTY TAXES $250 $0
PROPERTY TRANSFER TAXES $45 $0
PROPERTY TAX IN-LIEU OF VLF $987 $0
TOTAL NON-RESIDENTIAL PROPERTY TAXES $3,781 $0
APPROVED PROPOSED
LAND USE TYPE PLAN PLAN
GRAND TOTAL
ESTIMATED BUILDOUT VALUE $5,492,250 $10,256,000
ESTIMATED EXEMPTIONS ($37,800) ($100,800)
ESTIMATED ASSESSED VALUE $5,454,450 $10,155,200
ESTIMATED SECURED PROPERTY TAXES $8,280 $15,417
RESIDENTIAL
ESTIMATED BUILDOUT VALUE $3,846,000 $10,256,000
ESTIMATED EXEMPTIONS ($37,800) ($100,800)
HOMEOWNER'S EXEMPTION (ANNUALLY) 1 $7,000
PERCENT OF SALE UNITS TAKING HOMEOWNER'S EXEMPTION1 90% ESTIMATED ASSESSED VALUE $3,808,200 $10,155,200
ESTIMATED SECURED PROPERTY TAXES $5,781 $15,417
NON-RESIDENTIAL
ESTIMATED BUILDOUT VALUE $1,646,250 $0
ESTIMATED EXEMPTIONS $0 $0
ESTIMATED ASSESSED VALUE $1,646,250 $0
ESTIMATED SECURED PROPERTY TAXES $2,499 $0
APPROVED PROPOSED
LAND USE TYPE PLAN PLAN
GRAND TOTAL $409 $424
RESIDENTIAL
ESTIMATED UNSECURED PROPERTY TAXES $159 $424
UNSECURED TAXES AS A % OF SECURED 2.75%
NON-RESIDENTIAL
ESTIMATED UNSECURED PROPERTY TAXES $250 $0
UNSECURED TAXES AS A % OF SECURED 10.00%
UNSECURED PROPERTY TAX CALCULATION
PICO AVENUE RESIDENTIAL PROJECT
PROPERTY TAX SUMMARY
EXHIBIT 5
CITY OF SAN MARCOS
ESTIMATED PROPERTY TAX REVENUES (CASE STUDY)
SECURED PROPERTY TAX CALCULATION
APPROVED PROPOSED
LAND USE TYPE PLAN PLAN
GRAND TOTAL $257 $564
RESIDENTIAL
ESTIMATED PROPERTY TRANSFER TAXES $212 $564
ESTIMATED BUILDOUT VALUE $3,846,000 $10,256,000
TRANSFER TAX AS A % OF ASSESSED VALUE 0.11%
PROPERTY TRANSFER TAX PASSED THROUGH TO CITY OF SAN MARCOS50.00% RESIDENTIAL PROPERTY TURNOVER RATE 10.00%
NON-RESIDENTIAL
ESTIMATED PROPERTY TRANSFER TAXES $45 $0
ESTIMATED BUILDOUT VALUE $1,646,250 $0
TRANSFER TAX AS A % OF ASSESSED VALUE 0.11%
PROPERTY TRANSFER TAX PASSED THROUGH TO CITY OF SAN MARCOS50.00% NON-RESIDENTIAL PROPERTY TURNOVER RATE 5.00%
APPROVED PROPOSED
LAND USE TYPE PLAN PLAN
GRAND TOTAL $3,346 $6,535
RESIDENTIAL
ESTIMATED PROPERTY TAX IN-LIEU OF VLF $2,359 $6,535
ESTIMATED BUILDOUT VALUE $3,846,000 $10,256,000
ESTIMATED EXISTING ASSESSED VALUE $321,086 $493,195
PROPERTY TAX IN-LIEU OF VLF INCREASE PER $1,000 OF AV $0.67
NON-RESIDENTIAL
ESTIMATED PROPERTY TAX IN-LIEU OF VLF $987 $0
ESTIMATED BUILDOUT VALUE $1,646,250 $0
ESTIMATED EXISTING ASSESSED VALUE $172,109 $0
PROPERTY TAX IN-LIEU OF VLF INCREASE PER $1,000 OF AV $0.67
PROPERTY TAX IN-LIEU OF VEHICLE LICENSE FEE CALCULATION
PROPERTY TRANSFER TAX CALCULATION
EXHIBIT 5 - CONTINUED
CITY OF SAN MARCOS
PICO AVENUE RESIDENTIAL PROJECT
ESTIMATED PROPERTY TAX REVENUES (CASE STUDY)
PROPERTY TAX ALLOCATION (AS A PORTION OF THE 1% GENERAL PROPERTY TAX LEVY) CITY OF SAN MARCOS3,4 8.846%
FIRE DISTRICT3,4 6.335%
TOTAL 15.181171%
PROPERTY TRANSFER TAX RATE AND ALLOCATION5
TRANSFER TAX AS A % OF ASSESSED VALUE 0.11%
PROPERTY TRANSFER TAX PASSED THROUGH TO CITY OF SAN MARCOS 50.00%
PROPERTY TAX IN-LIEU OF VLF ASSUMPTIONS
TOTAL CITY OF SAN MARCOS GROSS ASSESSED VALUE6 $7,756,621,947 TOTAL CITY PROPERTY TAX IN-LIEU VLF REVENUES6 $5,191,930 PROPERTY TAX IN-LIEU OF VLF INCREASE PER $1,000 OF AV $0.67 NOTES
1 Estimate, subject to change.
2 Based on typical DTA baseline assumptions.
3 Based on "General Fund" levy for Tax Rate Area (TRA) 131112. Data provided by the County of San Diego Auditor-Controller's Office. 4 Based on the average of the rates for TRA 13112.
5 Source: California Revenue & Taxation Code §11901, et seq.; San Marcos Municipal Code §3.12.020. *All figures subject to rounding
PROPERTY TAX AND PROPERTY TRANSFER TAX RATES AND ASSUMPTIONS EXHIBIT 5 - CONTINUED
CITY OF SAN MARCOS
PICO AVENUE RESIDENTIAL PROJECT
ESTIMATED PROPERTY TAX REVENUES (CASE STUDY)
6 Source: State Controller's Office Division of Accounting and Reporting, Revenue and Taxation Code Section 97.70 (c)(1)(B)(i) - Vehicle License Fee Adjustment Amounts. ]
APPROVED PROPOSED
LAND USE TYPE PLAN PLAN
GRAND TOTAL $10,149 $2,907
RESIDENTIAL SALES TAXES
DIRECT SALES TAX NA NA
INDIRECT SALES TAX - TAXABLE RESIDENT PURCHASES
CONDOMINIUMS $1,090 $2,907
TOTAL RESIDENTIAL SALES TAXES $1,090 $2,907
NON-RESIDENTIAL SALES TAXES
DIRECT SALES TAX1
COMMERCIAL RETAIL $9,000 NA
INDIRECT SALES TAX - TAXABLE EMPLOYEE PURCHASES $59 $0
TOTAL NON-RESIDENTIAL SALES TAXES $9,059 $0
TAXABLE SALES PER SF1
COMMERCIAL RETAIL $300.00 $0.00
DISPLACED TAXABLE SALES2 20% 20%
1 Based on typical DTA baseline assumptions.
2 Based on typical DTA baseline assumptions.
EXHIBIT 6
CITY OF SAN MARCOS
ESTIMATED SALES TAX REVENUES (CASE STUDY)
DIRECT SALES TAX ASSUMPTIONS
SALES TAX SUMMARY
PICO AVENUE RESIDENTIAL PROJECT
DISPOSABLE INCOME PER HOUSEHOLD (OWNER)
ESTIMATED AVERAGE HOUSEHOLD INCOME (ASSUMES 3:1 INCOME TO HOUSEHOLD PAYMENT RATIO) 1 RESIDENTIAL $129,435
MORTGAGE ASSUMPTIONS
RESIDENTIAL
AVERAGE PROJECTED SALES PRICE PER UNIT $641,000
AVERAGE MORTGAGE (20% DOWN PAYMENT) $512,800
ANNUAL MORTGAGE PAYMENT (4.5% FOR 30 YEARS) $31,179
ADDITIONAL ANNUAL PROPERTY TAXES & HOA $11,966
RETAIL TAXABLE EXPENDITURES (AS A % OF DISPOSABLE INCOME) RESIDENTIAL 28.0727%
RESIDENTIAL SALES TAX ASSUMPTIONS (RENTAL)
DISPOSABLE INCOME PER HOUSEHOLD $90,620
RETAIL TAXABLE EXPENDITURES (AS A % OF DISPOSABLE INCOME) 31.254%
RESIDENTIAL SALES TAX ASSUMPTIONS (AFFORDABLE HOUSING)
DISPOSABLE INCOME PER HOUSEHOLD $64,441
RETAIL TAXABLE EXPENDITURES (AS A % OF DISPOSABLE INCOME) 34.367% EMPLOYEES (ANNUAL SPENDING PER EMPLOYEE)2 $5,945
RESIDENTIAL (ANNUAL SPENDING PER HOUSEHOLD) HOMEOWNER 2 $18,168 1 Based on typical DTA baseline assumptions.
2 Based on typical DTA baseline assumptions.
RESIDENTIAL / NON-RESIDENTIAL INDIRECT SALES TAX ASSUMPTIONS 2 EXHIBIT 6 - CONTINUED
CITY OF SAN MARCOS
PICO AVENUE RESIDENTIAL PROJECT
ESTIMATED SALES TAX REVENUES (CASE STUDY)
RESIDENTIAL INDIRECT SALES TAX ASSUMPTIONS
SALES TAX % TO CITY1 1.00%
CITY RETAIL TAXABLE PURCHASE CAPTURE RATE2 50%
FY 2022-23 AD VALOREM PROPERTY TAX RATE () 1.12602%
PROPOSED SCHOOL CFD 0.00000%
CITY CFD SPECIAL TAXES $948.18
OTHER DIRECT ASSESSMENTS
VECTOR CONTROL $7.92
CWA WATER AVAILABILITY $10.00
MOSQUITO SURVEILLANCE $2.28
MWD WATER STANDBY CHARGE $11.50
SEWER SERVICE CHARGE $467.88
TOTAL ETR 1.351880%
NOTES
1 Estimate, subject to change.
2 Estimate, subject to change.
* All figures subject to rounding
EXHIBIT 6 - CONTINUED
CITY OF SAN MARCOS
PICO AVENUE RESIDENTIAL PROJECT
ESTIMATED SALES TAX REVENUES (CASE STUDY)
SAMPLE PROPERTY TAX BILL
CITY INDIRECT SALES TAX ASSUMPTIONS
APPROVED PROPOSED
LAND USE TYPE COMMERCIAL OFFICE RESIDENTIAL COMMERCIAL OFFICE RESIDENTIAL PLAN PLAN TOTAL CFD SPECIAL TAXES $2,288 $5,544
RESIDENTIAL CFD SPECIAL TAXES1
CFD 98-01 IA 1 6 16 $1,080.24 $2,881
CFD 2001-01 (FIRE) 6 16 $998.60 $2,663
TOTAL RESIDENTIAL CFD SPECIAL TAXES $2,079 $5,544
NON-RESIDENTIAL CFD SPECIAL TAXES1
CFD 98-01 IA 1 0.09 $108 $0
CFD 2001-01 (FIRE) 0.09 $100 $0
TOTAL NON-RESIDENTIAL CFD SPECIAL TAXES $209 $0
APPROVED PROPOSED
LAND USE TYPE COMMERCIAL OFFICE RESIDENTIAL COMMERCIAL OFFICE RESIDENTIAL PLAN PLAN TOTAL CFD SPECIAL TAXES $5,099 $9,627
RESIDENTIAL CFD SPECIAL TAXES1
CFD 98-02 (ZONES A - E)2 6 16 $1,485.60 $3,962
CFD 98-02 (ZONE F)2, 3 6 16 NA NA
CFD 2011-012, 4 6 16 $2,124.66 $5,666
TOTAL RESIDENTIAL CFD SPECIAL TAXES $3,610 $9,627
NON-RESIDENTIAL CFD SPECIAL TAXES1
CFD 98-02 (ZONES A - E)2 0.09 $95 $0
CFD 98-02 (ZONE F)2, 3 NA NA
CFD 2011-012, 5 3,750 $1,394 $0
TOTAL NON-RESIDENTIAL CFD SPECIAL TAXES $1,489 $0
LAND USE PER ACRE PER SF PER UNIT
RESIDENTIAL1
CFD 98-01 IA 1 $180.04
CFD 2001-01 (FIRE) $166.43
CFD 98-02 (ZONES A - E)2 $247.60
CFD 98-02 (ZONE F)2, 3 NA
CFD 2011-012, 4 $354.11
COMMERCIAL 1
CFD 98-01 IA 1 $1,260.31
CFD 2001-01 (FIRE) $1,165.03
CFD 98-02 (ZONES A - E)2 $1,105.32
CFD 98-02 (ZONE F)2, 3 N/A
CFD 2011-012, 5 $0.3716
OFFICE 1
CFD 98-01 IA 1 $2,520.62
CFD 2001-01 (FIRE) $2,330.07
CFD 98-02 (ZONES A - E)2 $1,105.32
CFD 98-02 (ZONE F)2, 3 NA
CFD 2011-012, 5 $0.3716
INDUSTRIAL 1
CFD 98-01 IA 1 $954.24
CFD 2001-01 (FIRE) $882.10
CFD 98-02 (ZONES A - E)2 $735.96
CFD 98-02 (ZONE F)2, 3 NA
CFD 2011-012, 5 $0.8100
NOTES
1 Source: City of San Marcos. Assumes Senior Residential property is charged as Commercial property under the RMA. Subject to confirmation by the City. 2 Special assessments collected from the CFD are deposited into Special Funds, not the General Fund. Therefore, these CFD revenues are excluded from this analysis. 3 No special tax rate for Zone F has been established for the project. 4 "Townhome" Rate, per dwelling unit
5 "Retail" Rate, per building square foot
*All figures subject to rounding
PROPOSED ACRES / SQ FT/ UNITS
PROPOSED ACRES / SQ FT/ UNITS
APPROVED ACRES / SQ. FT.
FY 2022-23 SPECIAL TAX RATE
CFD SPECIAL TAX RATE ASSUMPTIONS
CFD SPECIAL TAX SUMMARY - NON-GENERAL FUND IMPACTS (EXCLUDED FROM ANALYSIS) APPROVED ACRES / SQ. FT.
EXHIBIT 7
CITY OF SAN MARCOS
ESTIMATED CFD SPECIAL TAX REVENUES (CASE STUDY)
CFD SPECIAL TAX SUMMARY - GENERAL FUND IMPACTS
PICO AVENUE RESIDENTIAL PROJECT
APPROVED PROPOSED
PLAN PLAN
ESTIMATED RECURRING GENERAL GOVERNMENT OVERHEAD EXPENDITURES1 $3,028 $7,111 TOTAL RECURRING CITY GENERAL FUND EXPENDITURES (EXCLUDING GENERAL GOVERNMENT OVERHEAD)2 $56,935,367 TOTAL RECURRING CITY GENERAL GOVERNMENT OVERHEAD3 $20,080,196 TOTAL RECURRING GENERAL FUND EXPENDITURES $77,015,563
RECURRING CITY GENERAL GOVERNMENT OVERHEAD (% OF TOTAL RECURRING GENERAL FUND EXPENDITURES)3 35.27% MARGINAL INCREASE IN GENERAL GOVERNMENT COSTS 100%
NOTES
1 Based on total recurring project general fund expenditures (excluding general government overhead) from Exhibit 12. 2 Based on City of San Marcos Operating Budget, Fiscal Year 2022-23. *All figures subject to rounding
3 General Government Overhead Expenditures defined as costs for City Council, Administration, Housing and Neighborhood Services, City Attorney, City Clerk, Human Resources/Risk Management, Finance/Information Systems, and Real Property Services.
EXHIBIT 8
CITY OF SAN MARCOS
ESTIMATED GENERAL GOVERNMENT EXPENDITURES (CASE STUDY)
GENERAL GOVERNMENT ASSUMPTIONS
GENERAL GOVERNMENT EXPENDITURES CALCULATION
PICO AVENUE RESIDENTIAL PROJECT
APPROVED PROPOSED
REVENUE CATEGORY PLAN PLAN
FRANCHISE FEES $618 $1,452
LICENSES AND PERMITS $200 $470
FINES AND FORFEITURES $43 $100
TOTAL ESTIMATED MULTIPLIER REVENUES $861 $2,022
REVENUE CATEGORY MULTIPLIER1 BASIS
SALES TAX NA CASE STUDY
PROPERTY TAX NA CASE STUDY
FRANCHISE FEES $36.90 PERSONS SERVED
LICENSES AND PERMITS $11.95 PERSONS SERVED
FINES AND FORFEITURES $2.55 PERSONS SERVED
NOTES
1 Based on City of San Marcos Operating Budget, Fiscal Year 2022-23 *All figures subject to rounding
MULTIPLIER BASED REVENUE ASSUMPTIONS
EXHIBIT 9
CITY OF SAN MARCOS
ESTIMATED MULTIPLIER BASED GENERAL FUND REVENUES
MULTIPLIER BASED GENERAL FUND REVENUE SUMMARY
PICO AVENUE RESIDENTIAL PROJECT
APPROVED PROPOSED
EXPENDITURE CATEGORY PLAN PLAN
PUBLIC WORKS $1,646 $3,866
DEVELOPMENT SERVICES $1,048 $2,461
PUBLIC SAFETY $5,601 $13,154
PARKS AND RECREATION $272 $639
OTHER FINANCING USES $18 $43
TOTAL MULTIPLIER EXPENDITURES $8,585 $20,163
EXPENDITURE CATEGORY MULTIPLIER1 BASIS
PUBLIC WORKS $98.23 PERSONS SERVED
DEVELOPMENT SERVICES $62.52 PERSONS SERVED
PUBLIC SAFETY $334.20 PERSONS SERVED
PARKS AND RECREATION $16.24 PERSONS SERVED
OTHER FINANCING USES $1.10 PERSONS SERVED
NOTES
1 Based on City of San Marcos Operating Budget, Fiscal Year 2022-23 *All figures subject to rounding
MULTIPLIER BASED EXPENDITURE ASSUMPTIONS
EXHIBIT 10
CITY OF SAN MARCOS
ESTIMATED MULTIPLIER BASED GENERAL FUND EXPENDITURES
MULTIPLIER BASED GENERAL FUND EXPENDITURE SUMMARY
PICO AVENUE RESIDENTIAL PROJECT
TOTAL REVENUE PROJECTION
REVENUE CATEGORY REVENUES TYPE METHOD DISCOUNT 1 MULTIPLIER
REVENUES INCLUDED IN FISCAL IMPACT ANALYSIS
SALES TAX $21,889,400 RECURRING CASE STUDY NA NA
PROPERTY TAX $27,358,117 RECURRING CASE STUDY NA NA
SPECIAL TAXES/ASSESSMENTS $6,337,000 RECURRING CASE STUDY NA NA TRANSIENT OCCUPANCY TAX $738,866 RECURRING CASE STUDY 0% NA FRANCHISE FEES $4,259,027 RECURRING PERSONS SERVED 0% $36.90 LICENSES AND PERMITS $1,379,350 RECURRING PERSONS SERVED 0% $11.95 FINES AND FORFEITURES $293,800 RECURRING PERSONS SERVED 0% $2.55 TOTAL INCLUDED GENERAL FUND REVENUES $62,255,560 $51.40 CHARGES FOR SERVICES 3
DEDUCTED FROM GENERAL GOV'T CHARGES $1,511,735 NA NA NA NA DEDUCTED FROM PUBLIC WORKS $1,079,532 NA NA NA NA
DEDUCTED FROM DEVELOPMENT SERVICES $728,914 NA NA NA NA DEDUCTED FROM PUBLIC SAFETY: BUILDING REGULATION CHARGES $5,575,806 NA NA NA NA DEDUCTED FROM PARKS AND RECREATION $2,580,842 NA NA NA NA TOTAL CHARGES FOR SERVICES $11,476,830
REVENUES EXCLUDED FROM FISCAL IMPACT ANALYSIS
USE OF MONEY AND PROPERTY 4 $1,791,000 NA NA NA NA
MISCELLANEOUS REVENUES $214,560 NA NA NA NA
OTHER FINANCING SOURCES $6,479,300 NA NA NA NA
INTERGOVERNMENTAL REVENUES $7,194,643 NA NA NA NA
DEVELOPER FEES $11,500 NA NA NA NA
TOTAL EXCLUDED GENERAL FUND REVENUES $15,691,003
TOTAL GENERAL FUND REVENUES + CHARGES FOR SERVICES $89,423,393 TOTAL RECURRING GENERAL FUND REVENUES $62,255,560
NOTES
1 Certain revenues may not be be expected to increase one-to-one with the new development. 2 Source: FY 2022-23 Budget.
3 All Charges for Services are deducted from expenditures on Exhibit 12. 4 Interest income is modeled on a case study basis on Exhibit 8. *All figures subject to rounding
EXHIBIT 11
CITY OF SAN MARCOS
FY 2022-23 GENERAL FUND REVENUE SUMMARY
PICO AVENUE RESIDENTIAL PROJECT
CHARGES FOR
TOTAL SERVICES EXPENDITURE PROJECTION
EXPENDITURE CATEGORY EXPENDITURES ADJUSTMENT TYPE METHOD1 DISCOUNT2 MULTIPLIER
EXPENDITURES INCLUDED IN FISCAL IMPACT ANALYSIS
GENERAL GOVERNMENT EXPENDITURES
CITY COUNCIL $283,294 RECURRING CASE STUDY NA NA
ADMINISTRATION $10,266,224 RECURRING CASE STUDY NA NA
ECONOMIC DEVELOPMENT $335,896 RECURRING CASE STUDY NA NA CITY ATTORNEY $940,000 RECURRING CASE STUDY NA NA
CITY CLERK $1,165,490 RECURRING CASE STUDY NA NA
HUMAN RESOURCES/ RISK MANAGEMENT $4,096,247 RECURRING CASE STUDY NA NA FINANCE/ INFORMATION SYSTEMS $4,363,173 RECURRING CASE STUDY NA NA REAL PROPERTY SERVICES` $141,607 RECURRING CASE STUDY NA NA TOTAL GENERAL GOVERNMENT EXPENDITURES $21,591,931 ($1,511,735) $20,080,196 $0.00
PUBLIC WORKS
OPERATIONS $10,259,077 $1,079,532 RECURRING PERSONS SERVED 0% $98.23 ENGINEERING $0 $0 RECURRING PERSONS SERVED 0% $0.00
STORMWATER PROGRAM MANAGEMENT $0 $0 RECURRING PERSONS SERVED 0% $0.00 TOTAL PUBLIC WORKS $10,259,077 ($1,079,532) RECURRING PERSONS SERVED 0% $9,179,545 PERSONS SERVED 0% $98.23
DEVELOPMENT SERVICES
ADMINISTRATION $1,494,468 ($122,656) RECURRING PERSONS SERVED 0% $11.88 PLANNING $1,484,910 ($121,872) RECURRING PERSONS SERVED 0% $11.81 BUILDING $1,491,629 ($122,423) RECURRING PERSONS SERVED 0% $11.86 ENGINEERING $2,386,017 ($195,829) RECURRING PERSONS SERVED 0% $18.97 WATERSHED PROGRAM MANAGEMENT $923,403 RECURRING PERSONS SERVED 0% $8.00 TOTAL DEVELOPMENT SERVICES $7,780,427 ($728,914)
$7,051,513 PERSONS SERVED 0% $62.52
PUBLIC SAFETY
FIRE DEPARTMENT $20,086,339 ($2,257,584) RECURRING PERSONS SERVED 0% $154.46 LAW ENFORCEMENT $23,374,137 ($2,627,113) RECURRING PERSONS SERVED 0% $179.74 TOTAL PUBLIC SAFETY $43,460,476 ($5,575,806)
$37,884,670 PERSONS SERVED 0% $334.20
PARKS AND RECREATION
COMMUNITY SERVICES $4,135,137 ($2,260,952) RECURRING PERSONS SERVED 0% $16.24 TOTAL PARKS AND RECREATION $4,135,137 ($2,580,842)
$1,554,295 PERSONS SERVED 0% $16.24
OTHER FINANCING USES
ANNUAL REPLACEMENT/REHAB TRANSFERS $1,265,345 RECURRING PERSONS SERVED 90% $1.10 TOTAL OTHER FINANCING SOURCES $1,265,345 $0
$1,265,345 PERSONS SERVED 90% $1.10
TOTAL INCLUDED EXPENDITURES $88,492,393 $77,015,563
EXPENDITURES EXCLUDED FROM FISCAL IMPACT ANALYSIS
TRANSFERS OUT $931,000 NA NA NA NA
TOTAL EXCLUDED GENERAL FUND EXPENDITURES $931,000
TOTAL GENERAL FUND EXPENDITURES $89,423,393 $77,015,563 Ratio
26.07%
NOTES
1 Persons Served method assumes City population plus 50% of employees. 2 Certain expenditures may not be expected to increase one-to-one with the new development. * Source: FY 2022-23 Budget.
*All figures subject to rounding
EXHIBIT 12
CITY OF SAN MARCOS
FY 2022-23 GENERAL FUND EXPENDITURE SUMMARY
PICO AVENUE RESIDENTIAL PROJECT