CAPITAL ASSETS STATISTICS BY FUNCTION
Last Ten Fiscal Years
Fiscal Year Ending June 30
20. Capital Assets Statistics by Function – Last Ten Fiscal Years DRAFT
239
Table 21
INSURANCE ANNUAL TERM EXPIRATION
TYPE OF POLICY COMPANY LIMITS (1) PREMIUM (3) YEARS DATE (2) Liability
Comprehensive General Self-insured (Since 1987) $3 million n/a - Ongoing Excess Liability PRISM $50 million $1,823,232 1 7/1/2023 and various other carriers
Workers' Compensation Self-insured (since 1973) $750 thousand n/a - Ongoing Excess Workers' PRISM $5 million $954,076 1 7/1/2023 Compensation and various other carriers
Property Coverage
All Risks, including flood, Alliant Property Insurance
excluding earthquake Program (APIP) $800 million $1,332,290 1 7/1/2023 Various excess carriers
Boiler and Machinery Alliant Property Insurance $100 million not available 1 7/1/2023 Program (APIP)
Various excess carriers
Financial Loss Bonds
Crime Coverage Bond PRISM $10 million $13,403 1 6/30/2023 Notes:
(1) Limits are per occurrence
(2) All policies have been renewed
(3) Boiler and Machinery APIP premium is included in All Risks premium, $1,332,290. Breakdown is unavailable.
Source: City of Santa Clara
CITY OF SANTA CLARA
STATEMENT OF INSURANCE COVERAGE
June 30, 2023
21. Statement of Insurance Coverage
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SUCCESSOR AGENCY CITY OF SANTA CLARA
STATISTICAL SECTION
This part of the City of Santa Clara’s Annual Comprehensive Report provides detailed information to better understand the data presented within the financial statements, note disclosures, and required supplementary information.
TABLES
REVENUE CAPACITY 1 - 3
Contains information to help the reader assess the Successor Agency’s most significant local revenue source, the property tax.
DEBT CAPACITY 4
Presents information to assess the affordability of the Successor Agency’s current levels of outstanding debts.
Successor Agency
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Table 1
2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Real Property Value 5,996,569$ 5,790,301$ 5,708,617$ 5,372,322$ 6,024,538$ 6,136,642$ 5,710,559$ 4,474,495$ 2,504,578$ 2,428,787$ Other Property Value 26,855 33,102 28,733 25,324 22,913 25,857 27,877 796,082 551,425 450,943 Total Project Value 6,023,424 5,823,403 5,737,350 5,397,646 6,047,451 6,162,499 5,738,436 5,270,577 3,056,003 2,879,730 Less Base Value (8,838) (8,838) (8,838) (8,838) (8,838) (8,838) 49,632 49,322 (8,829) (8,838) Increment Over Base Value 6,014,586 5,814,565 5,728,512 5,388,808 6,038,613 6,153,661 5,788,068 5,319,899 3,047,174 2,870,892 Redevelopment Property
Tax Trust Fund (RPTFF)
(1)
- - - - - - - 5,697 9,365 26,759 Total Tax Revenue -$ -$ -$ -$ -$ -$ -$ 5,697$ 9,365$ 26,759$ Notes:
Source: City of Santa Clara / Santa Clara County Auditor
SUCCESSOR AGENCY OF THE CITY OF SANTA CLARA
BAYSHORE NORTH PROJECT AREA
HISTORICAL TAX INCREMENT
Last Ten Fiscal Years
(In Thousands)
(1) With the State dissolving all RDAs on 02/01/2012, the structure of Tax Increment Revenue has changed. Starting in fiscal year 2012-13, the County's property tax distribution to the Successor Agency was changed to the Redevelopment Property Tax Trust Fund (RPTTF). The RPTTF reported in this table is the amount calculated by the County Auditor-Controller. Under the provisions of the laws dissolving the Redevelopment Agency, the Successor Agency only receives the funds necessary to fulfill its approved obligations.
1 . Historical Tax Increment – Last Ten Fiscal Years
DRAFT
244
Table 2
ASSESSED ASSESSED
PROPERTY PROPERTY PERCENT
ASSESSEE USE VALUATION OF TOTAL
1 Forty Niners SC Stadium Company LLC Commercial Office Building 777,020,014$ 12.90% 2 SI LLC Commercial Office Building 581,049,978 9.65% 3 Innovation Commons Owner LLC Commercial Office Building 284,347,972 4.72% 4 The Irvine Company Commercial Office Building 235,748,455 3.91% 5 PC Santa Clara Gateway 2 LLC Commercial Office Building 217,295,750 3.61% 6 SCT Owner LLC Commercial Office Building 200,960,600 3.34% 7 Apple Inc Commercial Office Building 196,394,587 3.26% 8 STC Venture LLC Commercial Office Building 185,164,569 3.07% 9 PRII Towers at Great America Owner LLC Commercial Office Building 174,383,234 2.90% 10 PR 3975 Freedom Circle Commercial Office Building 172,013,069 2.86% TOTAL 3,024,378,228$ 50.22%
TOTAL AGENCY ASSESSED VALUE 6,023,423,770$
Source: HDL Coren & Cone
SUCCESSOR AGENCY OF THE CITY OF SANTA CLARA
BAYSHORE NORTH PROJECT AREA
TEN LARGEST ASSESSEES - TAXABLE VALUE
June 30, 2023
2. Ten Largest Assessees – Taxable Value
DRAFT
245
Table 3
HEARING APPLICANT'S
TAX ROLL ASSESSED APPEAL DATE OPINION
NUMBER ASSESSEE VALUATION/ORIGINAL S/U
(1)
NUMBER DEADLINE STATUS VALUATION LAND USE
984-92-103 FORTY NINERS 555,214,000$ S 15.0278 88,000,000$ Commerical 984-92-104 FORTY NINERS 555,214,000 S 15.0279 88,000,000 Commerical 984-92-103 FORTY NINERS 555,214,000 S 15.028 88,000,000 Commerical 984-92-104 FORTY NINERS 555,214,000 S 15.0281 88,000,000 Commerical 984-92-103 FORTY NINERS 554,267,314 S 17.0232 140,000,000 Commerical 984-92-104 FORTY NINERS 554,267,314 S 17.0233 140,000,000 Commerical 984-92-104 FORTY NINERS 548,980,708 S 16.0256 100,000,000 Commerical 984-92-103 FORTY NINERS 548,980,708 S 16.0257 100,000,000 Commerical 984-92-103 FORTY NINERS 253,784,158 S 18.1918 250,500,000 Commerical 22-012522 APPLE INC 160,776,054 U 22.1293 50,100,000 N/A 21-081107 CEDAR FAIR S 93,154,425 U 21.3482 46,577,214 N/A 21-081108 CEDAR FAIR S 86,769,758 U 21.3483 42,989,135 N/A 21-081109 CEDAR FAIR S 62,482,975 U 21.3484 35,620,612 N/A 21-081110 CEDAR FAIR S 59,777,200 U 21.3485 29,888,601 N/A 17-018611 CEDAR FAIR S 59,280,246 U 17.1041 58,852,511 N/A 18-018278 CEDAR FAIR S 58,493,748 U 18.0594 50,547,232 N/A 18-042920 CYXTERA COMM 46,130,484 U 22.416 16,130,000 N/A 104-50-025 COHERENT INC 46,023,273 S 15.0256 15,251,322 Commerical 10-037856 SAVVIS COMMU 45,935,890 U 10.5814 40,000,000 N/A 14-032002 SAVVIS COMMU 44,195,581 U 14.171 22,000,000 N/A 5,444,155,836$ 1,490,456,627$
Note:
(1) S=secured roll, U=unsecured roll
Source: Santa Clara County Assessor's Office
SUCCESSOR AGENCY OF THE CITY OF SANTA CLARA
BAYSHORE NORTH PROJECT AREA
ASSESSMENT APPEAL ACTIVITY OF TOP 20 ASSESSEES
2022-23 Impacts
3. Assessment Appeal Activity of Top 20 Assessees
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Table 4
2022-23 Assessed Valuation: 6,023,423,770$
Base Year Valuation: (8,837,956)
Incremental Valuation: 6,014,585,814$
Total Debt Project Area’s Share of
6/30/2023
%
Applicable
(1)
Debt 6/30/23
OVERLAPPING TAX AND ASSESSMENT DEBT:
Santa Clara Unified School District 1,076,510,000$ 7.385% 79,500,264$ West Valley-Mission Community College District 694,320,000 3.387% 23,516,618 Santa Clara County 1,041,125,000 0.973% 10,130,146 Santa Clara Valley Water District Benefit Assessment District 38,900,000 0.973% 378,497 El Camino Hospital District 105,480,000 0.008% 8,438 TOTAL OVERLAPPING TAX AND ASSESSMENT DEBT 113,533,963$
OVERLAPPING GENERAL FUND DEBT:
Santa Clara County General Fund Obligations 1,120,404,570$ 0.973% 10,901,536$ Santa Clara County Pension Obligations 329,741,844 0.973% 3,208,388 Santa Clara County Board of Education Certificates of Participation 935,000 0.973% 9,098 West Valley-Mission Community College District General Fund Obligations 8,160,000 3.387% 276,379 Santa Clara Unified School District Certificates of Participation 11,538,000 7.385% 852,081 City of Santa Clara General Fund Obligations 10,085,000 10.581% 1,067,094 Santa Clara County Vector Control District Certificates of Participation 1,230,000 0.973% 11,968 TOTAL OVERLAPPING GENERAL FUND DEBT 16,326,544$
Less: Santa Clara County supported obligations (102,362) COMBINED TOTAL DIRECT AND OVERLAPPING DEBT 129,860,507$ (2)
TOTAL NET DIRECT AND OVERLAPPING BONDED DEBT 1 29,758,145$ (1) Percentage of overlapping agency's assessed valuation located within boundaries of the project area (2) Excludes tax and revenue anticipation notes, enterprise revenue, mortgage revenue and non-bonded capital lease obligations Ratios to 2022-23 Assessed Valuation :
Combined Total Direct and Overlapping Debt 2.16%
Net Combined Total Direct and Overlapping Debt 2.15%
SUCCESSOR AGENCY OF THE CITY OF SANTA CLARA
BAYSHORE NORTH PROJECT AREA
COMPUTATION OF DIRECT AND OVERLAPPING BONDED DEBT
June 30, 2023
4. C
omputation of Direct and Overlapping Bonded Debt
DRAFT
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