ATTACHMENT F
FISCAL AND ECONOMIC IMPACT ANALYSIS
CITY OF SAN MARCOS
AMORLITE LOFTS
ECONOMIC IMPACT ANALYSIS - (APPROVED PLAN)
RECURRING JOBS
RECURRING IMPACTS
ONE-TIME JOBS
ONE TIME IMPACTS
JOB HOUSING BALANCE
SUMMARY
EXHIBIT 1A
AMORLITE LOFTS
RECURRING EMPLOYMENT - APPROVED PLAN
ASSUMPTIONS
I. RESIDENTIAL LAND USE ASSUMPTIONS
LAND USE CATEGORY UNITS
- -
II. NON-RESIDENTIAL LAND USE ASSUMPTIONS
LAND USE CATEGORY1 EMPLOYEES/1,000 SQ. FT.2 SQ. FT.1
Commercial Data Center 0.83 160,000
160,000
RECURRING EMPLOYMENT
III. CITY
DIRECT EMPLOYEES3 INDIRECT EMPLOYEES4 INDUCED EMPLOYEES4 TOTAL EMPLOYEES Commercial Data Center 133 46 55 234
-
TOTAL RECURRING EMPLOYMENT 133 46 55 234
NOTES:
* All figures subject to rounding
4 Source: San Marcos City IMPLAN multipliers.
1 Source: City of San Marcos.
2 Commercial Buildings Energy Consumption Survey (CBECS), 2018. 3 Based on multiplying Category SF by Employees/1,000 SF metric.
EXHIBIT 2A
AMORLITE LOFTS
RECURRING ECONOMIC IMPACTS - APPROVED PLAN
ASSUMPTIONS
% INCOME SPENT TOTAL RESIDENT
I. RESIDENTIAL SPENDING ASSUMPTIONS HOUSEHOLD INCOME IN CITY SPENDING / YR. - $0 0.00% #VALUE!
II. NON-RESIDENTIAL OUTPUT ASSUMPTIONS AVERAGE OUTPUT / EMPLOYEE1 OUTPUT / YR.1 Commercial Data Center $200,382 $26,650,741
RECURRING OUTPUT
III.CITY
DIRECT OUTPUT INDIRECT OUTPUT 1 INDUCED OUTPUT 1 TOTAL OUTPUT Commercial Data Center $26,650,741 $6,648,633 $7,434,241 $40,733,615 TOTAL RECURRING OUTPUT $26,650,741 $6,648,633 $7,434,241 $40,733,615 NOTES:
* All figures subject to rounding
1 Source: San Marcos City IMPLAN multipliers.
EXHIBIT 3A
AMORLITE LOFTS
ONE-TIME EMPLOYMENT -APPROVED PLAN
ASSUMPTIONS
I. RESIDENTIAL LAND ASSUMPTIONS UNITS
- -
II. NON-RESIDENTIAL LAND USE ASSUMPTIONS SQ. FT.
Commercial Data Center 160,000
III. PUBLIC FACILITIES TOTAL COST
PROJECT INFRASTRUCTURE NA
ONE-TIME EMPLOYMENT
IV. CITY
DIRECT EMPLOYEES 1 INDIRECT EMPLOYEES 1 INDUCED EMPLOYEES 1 TOTAL EMPLOYEES Commercial Data Center 359 47 86 492
-
TOTAL ONE-TIME EMPLOYEES 359 47 86 492
NOTES:
* All figures subject to rounding
1 Source: San Marcos City IMPLAN multipliers (IMPLAN Sector 58: Construction of new non-residential structures).
EXHIBIT 4A
AMORLITE LOFTS
ONE-TIME IMPACTS - APPROVED PLAN
ASSUMPTIONS
ESTIMATED
I. RESIDENTIAL CONSTRUCTION COST ASSUMPTIONS UNITS COST PER SQ. FT. COST PER UNIT - - $175,000
II. NON-RESIDENTIAL CONSTRUCTION COST ASSUMPTIONS IMPROVEMENT VALUE1 CONSTRUCTION COST PER SQ. FT.
Commercial Data Center $49,776,000 $311
III. PUBLIC FACILITIES TOTAL COST
PROJECT INFRASTRUCTURE NA
ONE-TIME OUTPUT
IV. CITY
DIRECT OUTPUT INDIRECT OUTPUT 2 INDUCED OUTPUT 2 TOTAL OUTPUT Commercial Data Center $49,776,000 $8,573,805 $11,651,979 $70,001,784 TOTAL ONE-TIME OUTPUT $49,776,000 $8,573,805 $11,651,979 $70,001,784 NOTES:
1 Assumes that improvement value is approximately 85% of total valuation. 2 Source: San Marcos City IMPLAN multipliers (IMPLAN Sector 58: Construction of new non-residential structures). * All figures subject to rounding
EXHIBIT 5A
AMORLITE LOFTS
JOBS-HOUSING BALANCE - APPROVED PLAN
ASSUMPTIONS
I. EXISTING DEMOGRAPHICS
CITY OF SAN MARCOS
HOUSING UNITS 1 32,972
EMPLOYEES 2 41,300
II. JOB IMPACTS 3
CITY OF SAN MARCOS
DIRECT IMPACT 133
ADDITIONAL INDIRECT 46
ADDITIONAL INDUCED 55
TOTAL 234
III. CUMULATIVE PROJECT DEMOGRAPHICS
EXISTING HOUSING UNITS PLUS PROJECT - CITY OF SAN MARCOS 32,972 PERCENTAGE INCREASE 0.00%
EXISTING EMPLOYEES PLUS PROJECT - CITY OF SAN MARCOS 41,534 PERCENTAGE INCREASE 0.57%
JOBS-HOUSING BALANCE
IV. JOBS-HOUSING BALANCE
CITY OF SAN MARCOS
EXISTING 1.25
EXISTING WITH PROJECT 1.26
PERCENTAGE INCREASE 0.57%
NOTES:
1 Source: State of California, Department of Finance, E-5 Population and Housing Estimates for Cities, Counties, and the State (2024). * All figures subject to rounding
2 Source: California Employment Development Department ("EDD") - Labor Market Information Division. 3 Please see Exhibit B-1: Recurring Jobs.
ASSUMPTIONS
I. RESIDENTIAL LAND USE ASSUMPTIONS UNITS
- -
II. NON-RESIDENTIAL LAND USE ASSUMPTIONS EMPLOYEES/1,000 SQ. FT. SQ. FT.
Commercial Data Center 0.83 160,000
ECONOMIC IMPACTS CONCLUSIONS
RECURRING IMPACTS
III. JOB CREATION DIRECT INDIRECT/INDUCED TOTAL
CITYWIDE 133 101 234
IV. TOTAL OUTPUT DIRECT INDIRECT/INDUCED TOTAL
CITYWIDE $26,650,741 $14,082,874 $40,733,615
ONE-TIME IMPACTS
V. CONSTRUCTION JOBS DIRECT INDIRECT/INDUCED TOTAL
CITYWIDE 359 134 492
VI. CONSTRUCTION OUTPUT DIRECT INDIRECT/INDUCED TOTAL
CITYWIDE $49,776,000 $20,225,784 $70,001,784
OTHER IMPACTS
BALANCE BALANCE % INCREASE/
VII. JOBS-HOUSING BALANCE EXISTING WITH PROJECT (DECREASE) CITYWIDE 1.25258 1.25967 0.57%
CITY OF SAN MARCOS
AMORLITE LOFTS
ECONOMIC IMPACT ANALYSIS - (PROPOSED PLAN)
RECURRING JOBS
RECURRING IMPACTS
ONE-TIME JOBS
ONE TIME IMPACTS
JOB HOUSING BALANCE
SUMMARY
EXHIBIT 1b
AMORLITE LOFTS
RECURRING EMPLOYMENT - PROPOSED PLAN
ASSUMPTIONS
I. RESIDENTIAL LAND USE ASSUMPTIONS
LAND USE CATEGORY UNITS
Market Rate Apartments 148
Apartments Affordable 17
II. NON-RESIDENTIAL LAND USE ASSUMPTIONS
LAND USE CATEGORY1 EMPLOYEES/1,000 SQ. FT.2 SQ. FT.1
Ground Floor Commercial 0.82 5,600
5,600
RECURRING EMPLOYMENT
III. CITY
DIRECT EMPLOYEES3 INDIRECT EMPLOYEES4 INDUCED EMPLOYEES4 TOTAL EMPLOYEES Market Rate Apartments 0 0 0 0
Apartments Affordable 0 0 0 0
Ground Floor Commercial 5 0 1 6
TOTAL RECURRING EMPLOYMENT 5 0 1 6
NOTES:
* All figures subject to rounding
1 Source: City of San Marcos.
2 Commercial Buildings Energy Consumption Survey (CBECS), 2018. 3 Based on multiplying Category SF by Employees/1,000 SF metric. 4 Source: San Marcos City IMPLAN multipliers.
EXHIBIT 2b
AMORLITE LOFTS
RECURRING ECONOMIC IMPACTS - PROPOSED PLAN
ASSUMPTIONS
% INCOME SPENT TOTAL RESIDENT
I. RESIDENTIAL SPENDING ASSUMPTIONS HOUSEHOLD INCOME IN CITY SPENDING / YR.
Market Rate Apartments $99,413 31.25% $2,299,229
Apartments Affordable $49,707 37.97% $160,440
II. NON-RESIDENTIAL OUTPUT ASSUMPTIONS AVERAGE OUTPUT / EMPLOYEE1 OUTPUT / YR.1 Ground Floor Commercial $67,385 $336,927
RECURRING OUTPUT
III.CITY
DIRECT OUTPUT INDIRECT OUTPUT 1 INDUCED OUTPUT 1 TOTAL OUTPUT Market Rate Apartments $2,299,229 $500,682 $82,379 $2,882,290 Apartments Affordable $160,440 $34,937 $5,748 $201,126
Ground Floor Commercial $336,927 $381,931 $667,301 $1,386,159 TOTAL RECURRING OUTPUT $2,796,596 $917,551 $755,428 $4,469,575 NOTES:
* All figures subject to rounding
1 Source: San Marcos City IMPLAN multipliers.
EXHIBIT 3b
AMORLITE LOFTS
ONE-TIME EMPLOYMENT - PROPOSED PLAN
ASSUMPTIONS
I. RESIDENTIAL LAND ASSUMPTIONS UNITS
Market Rate Apartments 148
Apartments Affordable 17
II. NON-RESIDENTIAL LAND USE ASSUMPTIONS SQ. FT.
Ground Floor Commercial 5,600
III. PUBLIC FACILITIES TOTAL COST
PROJECT INFRASTRUCTURE NA
ONE-TIME EMPLOYMENT
IV. CITY
DIRECT EMPLOYEES 1 INDIRECT EMPLOYEES 1 INDUCED EMPLOYEES 1 TOTAL EMPLOYEES Market Rate Apartments 216 81 60 357
Apartments Affordable 25 9 7 41
Ground Floor Commercial 14 2 3 19
TOTAL ONE-TIME EMPLOYEES 254 92 71 417
NOTES:
* All figures subject to rounding
1 Source: San Marcos City IMPLAN multipliers (IMPLAN Sector 58: Construction of new non-residential structures).
EXHIBIT 4b
AMORLITE LOFTS
ONE-TIME IMPACTS - PROPOSED PLAN
ASSUMPTIONS
ESTIMATED
I. RESIDENTIAL CONSTRUCTION COST ASSUMPTIONS UNITS SQ. FT. PER DWELLING UNIT COST PER UNIT Market Rate Apartments 148 $787 $260,000
Apartments Affordable 17 $747 $260,000
II. NON-RESIDENTIAL CONSTRUCTION COST ASSUMPTIONS IMPROVEMENT VALUE1 CONSTRUCTION COST PER SQ. FT.
Ground Floor Commercial $2,023,000 $361
III. PUBLIC FACILITIES TOTAL COST
PROJECT INFRASTRUCTURE NA
ONE-TIME OUTPUT
IV. CITY
DIRECT OUTPUT INDIRECT OUTPUT 2 INDUCED OUTPUT 2 TOTAL OUTPUT Market Rate Apartments $38,480,000 $10,356,359 $8,132,596 $56,968,955 Apartments Affordable $4,420,000 $1,189,582 $934,150 $6,543,731 Ground Floor Commercial $2,023,000 $349,220 $450,532 $2,822,752 TOTAL ONE-TIME OUTPUT $44,923,000 $11,895,160 $9,517,278 $66,335,439 NOTES:
1 Assumes that improvement value is approximately 85% of total valuation. 2 Source: San Marcos City IMPLAN multipliers (IMPLAN Sector 58: Construction of new non-residential structures). * All figures subject to rounding
EXHIBIT 5b
AMORLITE LOFTS
JOBS-HOUSING BALANCE - PROPOSED PLAN
ASSUMPTIONS
I. EXISTING DEMOGRAPHICS
CITY OF SAN MARCOS
HOUSING UNITS 1 32,972
EMPLOYEES 2 41,300
II. JOB IMPACTS 3
CITY OF SAN MARCOS
DIRECT IMPACT 5
ADDITIONAL INDIRECT 0
ADDITIONAL INDUCED 1
TOTAL 6
III. CUMULATIVE PROJECT DEMOGRAPHICS
EXISTING HOUSING UNITS PLUS PROJECT - CITY OF SAN MARCOS 33,137 PERCENTAGE INCREASE 0.50%
EXISTING EMPLOYEES PLUS PROJECT - CITY OF SAN MARCOS 41,306 PERCENTAGE INCREASE 0.01%
JOBS-HOUSING BALANCE
IV. JOBS-HOUSING BALANCE
CITY OF SAN MARCOS
EXISTING 1.25
EXISTING WITH PROJECT 1.25
PERCENTAGE INCREASE -0.48%
NOTES:
1 Source: State of California, Department of Finance, E-5 Population and Housing Estimates for Cities, Counties, and the State (2024). * All figures subject to rounding
2 Source: California Employment Development Department ("EDD") - Labor Market Information Division. 3 Please see Exhibit B-1: Recurring Jobs.
EXHIBIT 6B
AMORLITE LOFTS
SUMMARY - PROPOSED PLAN
ASSUMPTIONS
I. RESIDENTIAL LAND USE ASSUMPTIONS UNITS
Market Rate Apartments 148
Apartments Affordable 17
II. NON-RESIDENTIAL LAND USE ASSUMPTIONS EMPLOYEES/1,000 SQ. FT. SQ. FT.
Ground Floor Commercial 0.82 5,600
ECONOMIC IMPACTS CONCLUSIONS
RECURRING IMPACTS
III. JOB CREATION DIRECT INDIRECT/INDUCED TOTAL
CITYWIDE 5 1 6
IV. TOTAL OUTPUT DIRECT INDIRECT/INDUCED TOTAL
CITYWIDE $2,796,596 $1,672,979 $4,469,575
ONE-TIME IMPACTS
V. CONSTRUCTION JOBS DIRECT INDIRECT/INDUCED TOTAL
CITYWIDE 254 162 417
VI. CONSTRUCTION OUTPUT DIRECT INDIRECT/INDUCED TOTAL
CITYWIDE $44,923,000 $21,412,439 $66,335,439
OTHER IMPACTS
BALANCE BALANCE % INCREASE/
VII. JOBS-HOUSING BALANCE EXISTING WITH PROJECT (DECREASE) CITYWIDE 1.253 1.247 -0.48%