2130 Center Street, SUITE 301 BERKELEY, CALIFORNIA 94704 PHONE: 415 398 3050 FAX: 415 397 5065 001-003; jf
WWW.KEYSERMARSTON.COM 19160.023
ADVISORS IN :
REAL ESTATE
AFFORDABLE HOUSING
ECONOMIC DEVELOPMENT
BERKELEY
DEBBIE M. KERN
DAVID DOEZEMA
LOS ANGELES
KATHLEEN H. HEAD
KEVIN E. ENGSTROM
JULIE L. ROMEY
TIM BRETZ
SAN DIEGO
PAUL C. MARRA
LINNIE GAVINO
EMERITUS
A. JERRY KEYSER
TIMOTHY C. KELLY
MEMORANDUM
To: Elycia Knight
City of Santa Clara
From: Keyser Marston Associates, Inc.
Date: November 14, 2024
Subject: Mission Point Project, Fiscal Impact Analysis Peer Review and Testing of Alternatives
Keyser Marston Associates, Inc. (KMA) has been retained by the City of Santa Clara (City) to provide a peer review of the Fiscal Impact Analysis of Mission Point (“Applicant FIA”) prepared by Economic and Planning Systems (EPS) on behalf of the developer, Kylli, Inc., dated February 1, 2024.
The Mission Point Project (“Project”) has been presented as two options:
Option A encompasses up to 1,800 residential units, 3 million square feet of office / R&D uses, 100,000 square feet of retail / amenity uses, 10,000 square feet of childcare space, associated parking, parks, and open space.
Option B includes up to 2,600 residential units, 2.2 million square feet of office / R&D uses, 100,000 square feet of retail / amenity uses, 10,000 square feet of childcare space, associated parking, parks, and open space.
The Applicant FIA provides findings regarding annual recurring fiscal impacts to the City of Santa Clara General Fund and the Santa Clara Unified School District (SCUSD) for Option A of the Project. The following memorandum presents the findings of the KMA peer review, modified findings for Option A based on the results of the peer review, an analysis of Option B, and an analysis of the residential component of the Project on its own.
50 YEARS
Founded 1973
KEYSER MARSTON ASSOCIATES
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I. Summary
The Applicant FIA is reasonable and generally aligns with standard practices in preparation of fiscal impact analyses but warrants modification to select elements to provide a more accurate assessment of fiscal impacts. Recommended modifications affect estimated revenues as well as police, fire, public works, parks, and SCUSD expenses, as described in Section II. Table 1 presents a summary of revenue and expense estimates for the City General Fund and SCUSD, including:
Option A as presented in the Applicant FIA.
Option A with KMA’s recommended adjustments to the analysis. Option B with KMA’s recommended adjustments to the analysis. Residential phase on its own based on the 1,800 units in Option A.
Except for the first column of Table 1 identifying the Applicant FIA results for Option A, all findings reflect KMA’s recommended adjustments to the analysis discussed herein.
Results are as follows:
Option A is projected to generate a $4 million annual net surplus to the City General Fund upon full buildout and a net surplus of $12.4 million per year to SCUSD.
Option B is projected to generate a $3.1 million annual net surplus to the City General Fund upon full buildout and a net surplus of $9.2 million per year to SCUSD.
The residential phase of Option A is projected to generate a $0.3 million annual net surplus to the City General Fund and be approximately fiscally neutral to SCUSD1.
1 Findings for the residential phase of Option B are similar at a projected net positive General Fund surplus of $0.35 million.
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Table 1. Annual Recurring Fiscal Impacts ($Millions)
Applicant FIA,
Option A
(1,800 units) (1)
FIA Findings with KMA Adjustments
Option A
(1,800 units)
Option B
(2,600 units)
Residential
Phase Only
(1,800 units)(2)
City of Santa Clara General Fund
General Fund Revenues $7.7 $8.0 $7.4 $2.1
General Fund Expense ($4.8) ($4.0) ($4.3) ($1.8)
City Net Fiscal Impact $2.9 $4.0 $3.1 $0.3
Santa Clara Unified School District
Revenue $17.7 $17.3 $16.2 $5.0
Expense ($4.3) ($4.9) ($7.0) ($4.9)
SCUSD Net Fiscal Impact $13.3 $12.4 $9.2 $0.1
(1) Applicant FIA results for rental units are presented. The Applicant FIA includes a separate analysis if residential units are condos, with very similar results. (2) Findings for the residential phase of Option B are very similar, with a projected net General Fund surplus of $0.35 million and the Santa Clara Unified School District approximately fiscally neutral.
Table 2 summarizes the development alternatives that are evaluated.
Table 2. Development Alternatives Evaluated
Option A
(1,800 units)
Option B
(2,600 units)
Residential
Phase Only
(1,800 units)
Residential
BMR Units 270 390 270 units
Market Rate 1,530 2,210 1,530 units
Subtotal 1,800 2,600 1,800 units
Commercial
Office/R&D 3,000,000 2,210,000 0 sq.ft.
Retail/Amenities 100,000 100,000 8,000 sq.ft.
Childcare 10,000 10,000 10,000 sq.ft.
Subtotal 3,110,000 2,320,000 18,000 sq.ft.
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Table 3 presents City General Fund fiscal impacts by revenue source and department.
Table 3. City of Santa Clara General Fund Annual Revenue and Expenses
Applicant FIA,
Option A
(1,800 units)
FIA Findings with KMA Adjustments
Option A
(1,800 units)
Option B
(2,600 units)
Residential
Phase Only
(1,800 units)
General Fund Revenues
Property Tax $4,364,800 $4,240,200 $3,832,000 $1,015,000 Property Tax In Lieu of VLF $1,464,800 $1,423,000 $1,286,000 $341,000 Sales and Use Tax $944,400 $944,400 $971,000 $291,000
SVP Transfers not included $541,000 $498,000 $200,000
Franchise Fees $246,800 $246,800 $250,000 $95,000
Permits and Licenses $194,800 $194,800 $198,000 $75,000 Transient Occupancy Tax $142,500 $142,500 $105,000 $0
Document Transfer Tax $127,400 $124,000 $113,000 $30,000 Business License Tax $88,200 $88,200 $66,000 $1,000
Fines and Forfeitures $79,200 $79,200 $80,000 $31,000
Total Revenues $7,652,900 $8,024,100 $7,399,000 $2,079,000 General Fund Service Costs
Fire/EMS $1,665,700 $1,261,000 $1,196,000 $358,000
Police $1,676,900 $1,318,000 $1,496,000 $672,000
Public Works $356,000 $534,000 $542,000 $207,000
General Government $444,400 $444,400 $451,000 $172,000
Parks & Recreation $415,300 $214,000 $310,000 $214,000
Library $163,000 $163,000 $235,000 $163,000
Planning & Inspection $68,000 $68,000 $69,000 $26,000
Total Expenditures $4,789,300 $4,002,400 $4,299,000 $1,812,000
Net Annual Fiscal Impact $2,863,600 $4,021,700 $3,100,000 $267,000 Items that reflect KMA modification of the Applicant FIA methodology or assumptions are highlighted. See discussion in Section II.
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Table 4 presents estimates for SCUSD.
Table 4. Santa Clara Unified School District Annual Revenues and Expenses
Applicant FIA,
Option A
(1,800 units)
FIA Findings with KMA Adjustments
Option A
(1,800 units)
Option B
(2,600 units)
Residential
Phase Only
(1,800 units)
Revenues
Property Tax $16,690,000 $16,214,000 $14,654,000 $3,882,000 Other Revenues $970,000 $1,091,000 $1,573,000 $1,091,000 Total Revenues $17,660,000 $17,305,000 $16,227,000 $4,973,000
Expenses $4,347,000 $4,886,000 $7,049,000 $4,886,000
Net Annual Fiscal Impact $13,313,000 $12,419,000 $9,178,000 $87,000 Items that reflect KMA modification of the Applicant FIA methodology are highlighted. See discussion in Section II.
Section II. describes the recommended adjustments to the Applicant FIA, which is focused on Option A.
Appendix A. provides supporting analysis for the residential phase estimates.
Appendix B. provides supporting analysis for the Option B estimates.
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II. Recommended Modifications to Applicant FIA
A discussion of recommended modifications to the Applicant FIA is provided below. The Applicant FIA evaluated Option A only, thus the discussion and tables presented in this section pertain only to Option A.
A. Santa Clara Fire Department (SCFD) Expenses
The methodology used by the Applicant FIA is drawn from the recommendations of a fire needs assessment prepared on behalf of the developer (“Needs Assessment)2. The Applicant FIA selects one of the two metrics provided in the Needs Assessment on which an estimate of Fire / EMS service costs could be based:
A. Existing Staffing Ratio to Population – Staffing needed to maintain the existing ratio of fire / EMS staff to population, which results in an estimated need for approximately four additional firefighters (used in Applicant FIA).
B. Fire / EMS Service Calls – the Project will generate 840 new Fire / EMS calls for service annually according to the Needs Assessment (not used in Applicant FIA).
The selected population-based staffing metric is problematic in that it does not directly consider service needs of non-residential uses that represent approximately two thirds of the Project by building area. Of the two metrices provided in the Needs Assessment, service call generation by the Project is the most direct measure of service needs; however, the estimated calls for service identified by the Needs Assessment is likely inaccurate, as discussed below.
Two additional approaches for estimating Fire/EMS service costs were examined based on feedback from the Santa Clara Fire Department, including:
C. Staffing Ratio for Higher Density Communities – Santa Clara Fire Department (SCFD) indicates a staffing ratio of 1.5 per 1,000 population is more appropriate to a high-density community, such as the Proposed Project.
D. Daytime Service Population – Estimating service costs proportionate to daytime service population is used in the Applicant FIA for a number of other revenue and expense items and could be applied to Fire / EMS service costs as well.
Estimates using each of the four approaches follow.
2 Mission Point Development Fire Service Needs Assessment by PryoAnalysis, June 12, 2023.
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Approach A. Ratio of Fire / EMS Staff to Population (Applicant FIA Method) Approach A using the current ratio of Fire / EMS staff to population is presented in Table 5-1 and yields an estimated expense of approximately $1.7 million. As noted above, the approach is problematic because it does not consider costs associated with non- residential uses comprising three of the four major phases in the Project. Further, SCFD does not use a population-based ratio for staffing decisions3.
Table 5-1 Approach A Based on Existing FTEs Per 1,000 Population (Applicant FIA Method) FY 23-24 Field Ops and EMS Division costs $57,020,592 Excludes Admin, Community Risk Reduction, Training, and Office of Emergency Services
Field Operations FTEs 138
Cost per FTE $413,193
Existing Residents 132,476
Existing Field Operations FTEs per 1,000 residents 1.0417
Number of residents, Proposed Project 3,870
Number of New FTEs needed at current staffing ratio 4.031
Estimated Fire/EMS Services Cost (Approach A) $1,666,000 = 4.031 FTEs x $413,193 cost per FTE
Approach B. Based on Fire/EMS Calls for Service
Fire/EMS service costs can be estimated based on the number of Fire/EMS service calls projected to be generated. This approach considers both residential and non-residential components and relates directly to the service demands created by the Project. As stated in the Needs Assessment “as the call volume in District 10 continues to rise, there is an increased likelihood of simultaneous service requests and the potential for the primary responding unit to be engaged at another emergency. This situation, known as concurrent calls for service, will necessitate a response from a secondary or tertiary unit stationed south of Hwy 101, further worsening the already delayed response times in District 10.”
The Needs Assessment indicates the Project will generate 840 additional Fire / EMS calls for service annually. However, the 840 service calls is not based on analysis of service call data, rather it assumes existing citywide calls increase proportionate to the sum of population and employment, and so may not be accurate.
3 As stated in the DEIR, “SCFD does not use a population-based staffing standard but, rather, bases its staffing model on the ability to send trained and equipped personnel within response times.” To: Elycia Knight November 14, 2024
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KMA prepared a modified estimate of the number of Fire/EMS calls for service based on SCFD data on actual Fire/EMS calls for service to the following existing properties:
Santa Clara Square, a mixed use development with multi-family, retail and office; Santa Clara Gateway, an office development; and
St Anton Apartments, a multi-family 100% affordable development.
Fire / EMS call generation rates from these existing properties are shown in Table 5-2.
Table 5-2. Fire/EMS Calls for Service Generation Rate Estimate
Annual
Fire/EMS Calls
for Service
Data
Year (1)
No. of Units or
Square Feet
Service Call
Generation Rate Per
Unit or 1,000 Square
Feet
Santa Clara Square: Office 18 2019 1,700,000 sq.ft. 0.0106 / 1,000 SF Santa Clara Gateway: Office 46 2019 900,000 sq.ft. 0.0511 / 1,000 SF Santa Clara Square: Retail 26 2023 166,313 sq.ft. 0.1563 / 1,000 SF Santa Clara Square: Multifamily 51 2023 1,482 units 0.0344 / unit St. Anton Apartments: Affordable 8 2023 196 units 0.0408 / unit Sources: City of Santa Clara Fire Department, CoStar, Realquest. (1) Calls for service to office uses dropped during the pandemic and are currently affected by high vacancies.
For office, 2019 data is used to establish call rates.
Call generation rates from Table 5-2 are applied to estimate annual fire/EMS calls for service to the Project. Fire/EMS service costs are estimated using the existing cost per call. These calculations are shown in Table 5-3 and yield an estimate of Fire/EMS service expenses of approximately $1.3 million per year.
Table 5-3. Fire / EMS Approach B, Based on Projected Calls For Service FY 23-24 Field Ops and EMS Division costs
$57,020,592
Fire/EMS Calls For Service, 2023
10,586
Cost Per Service Call
$5,386
Calls for Service, Proposed Project
Call Generation Development
Estimated Calls
for Service
Market Rate Residential 0.0344 / unit 1,530 units 53
Affordable Residential 0.0408 / unit 270 units 11
Office (1) 0.0511 / 1,000 SF 3,000,000 SF 153
Retail / Amenities 0.1563 / 1,000 SF 110,000 SF 17
Total Calls
234
Estimated Fire/EMS Service Expense = no. of calls x cost per call $1,261,000 (1) Uses Santa Clara Gateway call generation rate.
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Approach C. Higher Density / Urban Staffing Ratio
SCFD indicated that a higher staffing ratio of 1.5 FTEs per 1,000 population is more applicable to a higher density community such as the Project. The existing staffing ratio of 1.04 FTEs per 1,000 population aligns more closely with National Fire Protection Association guidance for lower density suburban environments. Use of a higher population-based staffing ratio shares the disadvantage of Approach A in attributing all service needs to residential uses, with no direct consideration of service needs associated with the non-residential component. With Approach C, Fire / EMS service costs are estimated at $2.4 million per year, as shown in Table 5-4.
Table 5-4. Approach C Based on Higher Density / Urban Staffing Ratio of 1.5 Per 1,000 Population FY 23-24 Field Ops and EMS Division costs $57,020,592 Excludes Admin, Community Risk Reduction, Training, and Office of Emergency Services
Field Operations FTEs 138 FTEs
Cost per FTE $413,193 /FTE
Number of residents, Proposed Project 3,870 Residents
Staffing Ratio per 1,000, Higher Density Communities 1.5 per SCFD Number of New FTEs needed 5.81 FTEs
Estimated Fire/EMS Services Cost (Approach C) $2,399,000 =5.81 FTEs x $413,193 cost per FTE.
Approach D. Daytime Service Population
With Approach D, existing Fire / EMS costs are estimated proportionate to daytime service population. This methodology is consistent with analyses of six other revenue and expense items in the Applicant FIA. Approach D considers service needs of both residential and non-residential components of the Project. As shown in Table 5-5, this method results in an estimated service cost of $2.9 million per year.
Table 5-5. Approach D Based on Daytime Service Population FY 23-24 Field Ops and EMS Division Budget $57,020,592 Excludes Admin, Community Risk Reduction, Training, and Office of Emergency Services
Existing Daytime Service Population 196,597
Cost per Daytime Service Population $290.04
New Daytime Service Population 10,152
Estimated Fire/EMS Services Cost
(Approach D)
$2,944,000 = $290.04 cost per daytime population x 10,152 new daytime population
As evident from the discussion above, estimates are sensitive to methodology. KMA’s recommendation is to use Approach B (Table 5-3), which yields a Fire/EMS service cost To: Elycia Knight November 14, 2024
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of approximately $1.3 million per year. Approach B considers service demands of both residential and non-residential Project components and is the most data-driven estimate based on actual service demands of comparable existing uses.
B. Police Service Costs
The Applicant FIA estimates the cost to provide police services at $1.7 million per year based on the existing ratio of officers per 1,000 population. This approach has the same drawbacks as Approach A of the Fire/EMS analysis in that estimated police service expenses are based solely on the residential component of the Project, with no expenses attributed to non-residential uses. As stated in the Draft Environmental Impact Report (DEIR) for the Project, Santa Clara Police Department (SCPD) does not maintain a population-based standard for staffing, rather SCPD bases staffing decisions on actual workload and the interpretation and analysis of data.
KMA prepared a separate analysis of police service expenses based on the estimated number of calls for service, an approach to capturing service needs of all Project components based on the actual service demands of comparable existing uses. The estimate uses the same properties as the Fire/EMS calls for service analysis. Table 6-1 summarizes the Police call generation rates from these existing properties.
Table 6-1. Police Calls for Service Generation Rate Estimate A. B. C. D.
Annual Police
Calls for Service (1)
No. of Units or
Square Feet
Adjustment
Factor(2)
Service Call
Generation Rate
=A. / B x C.
Santa Clara Square: Office 36 1,700,000 sq.ft. 2 0.0424 / 1,000 SF Santa Clara Gateway: Office 27 900,000 sq.ft. 2 0.0600 / 1,000 SF Santa Clara Square: Retail 248 166,313 sq.ft. 1 1.4912 / 1,000 SF Santa Clara Square: Multi-Family 209 1,482 units 1 0.1410 / Unit St. Anton Apartments: Affordable 63 196 units 1 0.3214 / Unit Sources: KMA analysis of data provided by City of Santa Clara Police Department, CoStar , Realquest. (1) Represents calls for service excluding traffic-related incidents that include police beat and location coordinates. (2) A comparison to pre-pandemic call generation rates indicates a drop of nearly 60% for office uses from 2019 to 2023. The 2x adjustment factor assumes calls for service will return to near pre-pandemic rates.
Call generation rates from Table 6-1 are applied to estimate annual police calls for service to the Project. Police service expenses are estimated using the existing cost per call. These calculations are shown in Table 6-2 and yield an estimate of police service expenses of approximately $1.3 million per year. This estimate is reflected in the adjusted findings presented in Tables 1 and 3.
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Table 6-2. Police Service Cost Estimate Based on Projected Calls For Service Police 23-24 Budget Variable Costs Police Variable Cost Administrative Services $20,300,570 75% $15,225,428
Field Operations $45,311,222 100% $45,311,222
Investigations $16,060,444 100% $16,060,444
Special Operations $3,926,326 0% $0
Total $85,598,562
$76,597,094
Police Calls For Service, 2023(1)
37,558 calls
Variable Cost Per Service Call = variable cost / 2023 calls $2,039 / call
Calls for Service, Proposed Project Call Generation Rate Development Estimated Calls for Service Market Rate Residential 0.1410 / unit 1,530 units 216 calls Affordable Residential 0.3214 / unit 270 units 87 calls Office (2) 0.0600 / 1,000 SF 3,000,000 SF 180 calls
Retail / Amenities 1.4912 / 1,000 SF 110,000 SF 164 calls Total Calls
647 calls
Estimated Police Service Expense = no. of calls x cost per call $1,318,000 (1) Represents 2023 calls for service that include police beat and location data but excluding traffic-related incidents that cannot be allocated to a specific land use. (2) Uses Santa Clara Gateway call generation rate.
C. Public Works
The Applicant FIA makes a 50% downward adjustment to Public Works expenses based on private maintenance of streets interior to the Project. Multi-building office and retail developments in Santa Clara commonly incorporate privately maintained interior access improvements. Since the Project is not unique in this regard, expense factors derived from the City’s budget will already incorporate this. A reduced adjustment factor of 25% is applied to the estimate presented in Table 7.
Table 7. Modified Estimate of Public Works Expense
Budget Direct Revenue Percent Variable Variable Cost
Existing Budget $25,203,805 $6,818,366 75% $13,789,079 Existing Daytime Service Population
196,597
Cost Per Daytime Service Population
$70.14
Less: Adjustment for Private Street Maintenance 25% ($17.54) Adjusted Variable Cost Per Daytime Service Population
$52.61
Daytime Service Population, Proposed Project
10,152
Estimated Public Works Expense = $52.61 cost per daytime population x 10,152 new daytime population
$534,000
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D. Park and Recreation Expenses
The Applicant FIA estimate of Park and Recreation departmental expenses is approximately $415,000 per year. The estimate is based on the City’s existing per capita costs. Subsequent to preparation of the Applicant FIA, the property owner agreed to assume responsibility for maintenance of on-site parks as part of the proposed DA. A modified estimate of park and recreation expenses is provided in Table 8 to reflect this.
This modified estimate is based on the City’s existing per capita costs for departmental administration, recreation programs, facility maintenance, and operations, but assumes incremental park maintenance expenses will be minimal. As shown in Table 8, expenses are estimated to total $214,000 annually.
Table 8. Parks and Recreation Expenses
Budget Direct Revenue Percent Variable Variable Cost
Administration Division $2,344,976 $525,557 75% $1,364,564 Parks (1) $9,033,152 $0 0% $0
Pools $1,405,285 $0 75% $1,053,964
Buildings $1,320,398 $0 75% $990,299
Operations $534,380 $0 75% $400,785
Recreation Division $8,419,639 $3,717,000 75% $3,526,979
Total Variable Cost: $7,336,591
Existing Residents
132,476
Variable Cost Per Resident
$55.38
New Residents
3,870
Estimated Parks and Recreation Expense $214,000
Source: City of Santa Clara FY 2024-25 budget.
(1) Incremental City park maintenance expenses are assumed to be minor since parks within the Project are to be privately maintained.
E. SVP Transfers
The Applicant FIA does not include transfers from Silicon Valley Power (SVP) to the City General Fund. Transfers from SVP are made in accordance with the City’s charter based on a 5% share of gross SVP revenue. Since SVP will supply electricity to the Project, SVP transfer revenues will increase. SVP transfer revenue generated by the Project is estimated proportionate to electricity usage, as shown in Table 9.
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Table 9. Silicon Valley Power Transfers
Electricity Use: SVP Service Area (1) 4,382.10 Gigawatt Hours 14,952,000 Million BTUs per year 3,412.14 Million BTUs per Gigawatt
Project Electric use (2)
254,284 Million BTUs per year
Less: Existing Site Electric Use (3)
(1,636) Million BTUs per year
Net Increase in Electricity Use from Project
252,648 Million BTUs per year
Percent Increase in Usage: SVP System
1.69%
Existing 23-24 Budgeted SVP Transfers
$32,000,000
Estimated SVP Transfer Revenue = 1.69% increase x $32,000,000 existing budgeted revenue
$541,000
(1) Per DEIR Table 3.5-2.
(2) Per DEIR Table 3.5-5.
(3) Per DEIR Table 3.5-3.
F. Assessed Values
The Applicant FIA assumes that affordable units will be on the tax rolls at a $124 million assessed value. The developer is proposing units at an average AMI of 80% or below.
Units at 80% of AMI and below may qualify for an exemption from property taxes depending on ownership structure. Given a property tax exemption is a possibility, one is assumed for purposes of the modified assessed value and property tax revenue estimates in Table 10. Although other assessed value estimates presented in the Applicant FIA appear somewhat optimistic based on a review of actual assessed values of other recent developments in Santa Clara, the Project is likely to require these higher values to achieve feasibility and so additional adjustments to assessed value assumptions were not made.
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Table 10. Property Tax and Transfer Tax Estimates
Property Taxes
Applicant FIA Assessed Value Estimate
$4,633,104,444
Less: Assessed Value of Affordable Units, likely exempt.
($123,927,804)
Total Assessed Value
$4,509,176,640
Less: Existing Assessed Value
($290,034,923)
Net Value Increase $4,219,141,717 1% Property Tax
$42,191,417
City Share of Property Taxes 10.1% of 1% tax $4,240,200
Property Tax In Lieu of VLF
Existing Citywide Property Tax in Lieu of VLF
$19,200,000
Citywide Assessed Value
$56,925,917,348
Net Assessed Value Increase with Project
7.412%
Property Tax In Lieu of VLF $1,423,000
Real Property Document Transfer Tax Value %Turnover Turnover Value Residential $1,072,256,640 5.0% per Year $53,612,832
Commercial $3,436,920,000 5.0% per Year $171,846,000
Total $4,509,176,640 $225,458,832
Transfer Tax $0.55 per $1,000 value $124,000
G. Budget Year
The Applicant uses FY 22-23 expenditure information for most estimates, although there is some mixing and matching of budget years, with FY 23-24 used for Fire/EMS. Since expenses have increased since FY 2022-23, use of FY 23-24 or FY 24-25 budget year information consistently throughout would have resulted in higher expense estimates.
KMA has not updated the analysis to reflect this comment.
H. SCUSD Student Generation Rates
While the Applicant FIA references student generation rates from the DEIR, and the DEIR cites information from SCUSD staff, the figures are not consistent with the source data. The analysis of SCUSD revenues and expenses was modified to reflect the student generation rates identified in SCUSD enrollment projections. Property tax revenue estimates have been adjusted consistent with the assumption that affordable units will be exempt. The modified analysis is presented in Table 11.
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Table 11. Santa Clara Unified School District Impacts
Market Rate
Affordable
Total
Number of Residential Units 1,530
270
1,800 Units
K-12 Student Generation Rate (1) 0.03
0.56 Number of Added K-12 Students 45.9
151.2
197.1 Students
Estimated Increase in Average
Daily Attendance (ADA)
92.8% ADA as share
of enrollment
183 ADA
Revenues
Property Tax $4,219,141,717 AV added (2) 38.43% of 1% tax $16,214,000 Other Local Revenue $3,212 per ADA(3)
$588,000
Federal Revenues $376 per ADA(3)
$69,000
Other State Revenue $2,370 per ADA(3)
$434,000
Total Revenue $17,305,000
Expenses $26,701 per ADA(3)
$4,886,000
SCUSD Net Annual Fiscal Impact $12,419,000
(1) Student Generation Rates derived by Enrollment Projection Consultants for Santa Clara Unified, January 2020. (2) See Table 10.
(3) From Applicant FIA.
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APPENDIX A: SENSITIVITY TEST WITH RESIDENTIAL PHASE ONLY
The following tables provide the supporting analysis for findings in Tables 1 through 4 evaluating the fiscal impacts of the residential phase of Option A on its own. The analysis is based on the uses proposed for Area D, including 1,800 residential units, childcare and amenity uses. The residential phase analysis reflects the Applicant FIA methodology and assumptions, without updating to reflect current budget information or tax rates, and incorporates the recommended modifications described in Section II. As shown in Table A-1, the residential phase alone is estimated to generate a net positive fiscal impact of approximately $0.3 million to the City’s General Fund. Supporting analysis is provided in Appendix Tables A-2 to A-12.
Table A-1. General Fund Revenue and Expenses, Residential (Area D) Only General Fund Revenues
Property Tax $1,015,000
SVP Transfers $341,000
Property Tax In Lieu of VLF $291,000
Sales and Use Tax $200,000
Franchise Fees $95,000
Permits and Licenses $75,000
Transient Occupancy Tax $0
Document Transfer Tax $30,000
Business License Tax $1,000
Fines and Forfeitures $31,000
Total Revenues $2,079,000
General Fund Service Costs
Fire/EMS $358,000
Police $672,000
Public Works $207,000
General Government $172,000
Parks & Recreation $214,000
Library $163,000
Planning & Inspection $26,000
Total Expenditures $1,812,000
Net Annual Fiscal Impact $267,000
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Table. A-2 Population and Employment, Residential (Area D) Only Development Population / Employment Factor Population Employees Daytime Pop Residential
BMR 270 units 2.15 population per unit 47 units/employee 581 6 583 Market Rate 1,530 units 2.15 population per unit 47 units/employee 3,290 33 3,306 Subtotal 1,800 units
3,870 38 3,889
Commercial
Retail/Amenities 8,000 sq.ft. 204 sq.ft./employee
employee/sq.ft.
39 20
Childcare 10,000 sq.ft. 286 sq.ft./employee
employee/sq.ft.
35 17
Subtotal 18,000 sq.ft.
74 37
Total 3,870 112 3,926 Source: Applicant FIA with Areas A to C Removed.
Table A-3. Assessed Value, Residential Only
Residential
BMR 270 units assume exempt
Market Rate 1,530 units $700,821 /unit $1,072,256,640 Subtotal
1,800 units
$1,072,256,640
Commercial
Retail/Amenities 8,000 sq.ft. $822 /sq.ft. $6,576,000
Childcare 10,000 sq.ft. $372 /sq.ft. $3,720,000
Subtotal
18,000 sq.ft.
$10,296,000
Total Assessed Value $1,082,552,640
Less Existing Assessed Value (1/4 of existing)
($72,508,731)
Net Increase in Assessed Value
$1,010,043,909
Source: Applicant FIA with Areas A to C removed and BMR units exempt.
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Table A-4. Property Tax and Transfer Tax Estimates, Residential Only
Property Taxes
Net Value Increase $1,010,043,909 1% Property Tax
$10,100,439
City Share of Property Taxes 10.1% of 1% tax $1,015,000
Property Tax In Lieu of VLF
Existing Citywide Property Tax in Lieu of VLF
$19,200,000
Citywide Assessed Value
$56,925,917,348
Net Assessed Value Increase with Project
1.774%
Property Tax In Lieu of VLF $341,000
Real Property Document Transfer Tax Value %Turnover Turnover Value Residential $1,072,256,640 5.0% per Year $53,612,832
Commercial $10,296,000 5.0% per Year $514,800
Total $1,082,552,640 $54,127,632
Transfer Tax $0.55 per $1,000 in AV $30,000
Source: Applicant FIA with Areas A to C removed and BMR units exempt.
Table A-5. Silicon Valley Power Transfers, Residential Only Total Electricity Use: SVP Service Area (1) 4,382.10 Gigawatt Hours 14,952,000 Million BTUs per year 3,412.14 Million BTUs per Gigawatt
Project Electric use (2)
254,284 M Btu per year
Less: Existing Site Electric use (3)
(1,636) M Btu per year
Net Increase in Electric use with Project
252,648
Block D as % of Total Project GSF
37%
Percent Increase in Usage: SVP System
0.63%
Existing 23-24 Budgeted SVP Transfers
$32,000,000
Estimated SVP Transfer Revenue = 0.63% increase x $32,000,000 existing budgeted revenue
$200,000
(1) Per DEIR Table 3.5-2.
(2) Per DEIR Table 3.5-5.
(3) Per DEIR Table 3.5-3.
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Table A-6. Sales Tax Estimate, Residential Only
Spending per unit or worker Units/Workers % in Santa Clara Market Rate Units $33,173 Taxable Sales Per Unit 1,530 Units 50% Below Market Rate Units $25,958 Taxable Sales Per Unit 270 Units 50% Employee Spending $4,958 Taxable Sales Per Worker 112 Workers 33.3% Total Taxable Sales
Sales Tax Estimate, Residential Only =1% taxable sales Source: Applicant FIA, adjusted to residential only
Table A-7. Other Revenues Estimated on Per Capita Basis, Residential Only Item
Employment or
Daytime Population Revenue Factor Revenue Estimate
Franchise Fees 3,926 $24.31 per daytime population $95,000 Fines and Forfeitures 3,926 $7.80 per daytime population $31,000 Permits and Licenses 3,926 $19.19 per daytime population $75,000 Business License Tax 74 $7.02 per employee $1,000
Total Revenues $202,000
Source: Applicant FIA with Areas A to C Removed.
Table A-8. Fire/EMS Service Cost Estimate, Residential Only FY 23-24 Field Ops and EMS Division costs
$57,020,592
Fire/EMS Calls For Service, 2023
10,586
Cost Per Service Call
$5,386
Calls for Service, Proposed Project Call
Generation
Development Estimated Calls for
Service
Market Rate Residential 0.0344 1,530 53
Affordable Residential 0.0408 270 11
Retail / Amenities 0.1563 18,000 3
Total Calls
66 Estimated Fire/EMS Service Expense = no. of calls x cost per call $358,000
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Table A-9. Police Service Cost Estimate, Residential Only 23-24 Budget Percent Variable Variable Cost
Administrative Services $20,300,570 75% $15,225,428
Field Operations $45,311,222 100% $45,311,222
Investigations $16,060,444 100% $16,060,444
Special Operations $3,926,326 0% $0
Total $85,598,562
$76,597,094
Police Calls For Service, 2023(1)
37,558
Variable Cost Per Service Call
$2,039
Calls for Service, Proposed Project Call Generation Development Estimated Calls for Service Market Rate Residential 0.1410 / unit 1,530 units 216 calls Affordable Residential 0.3214 / unit 270 units 87 calls Retail / Amenities 1.4912 / 1,000 SF 18,000 SF 27 calls Total Calls
329 calls
Estimated Police Service Expense = no. of calls x cost per call $672,000 (1) Represents 2023 calls for service that include police beat and location data but excluding traffic-related incidents that cannot be allocated to a specific land use.
Table A-10. Public Works Expense Estimate, Residential Only Budget Direct Revenue Percent Variable Variable Cost
Administrative Services $25,203,805 $6,818,366 75% $13,789,079 Existing Daytime Service Population
196,597
Variable Cost Per Daytime Service Population
$70.14
Less: Adjustment for Private Street Maintenance
25% ($17.54)
Adjusted Variable Cost Per Daytime Service Population
$52.61
Daytime Service Population
3,926
Estimated Public Works Expense $207,000
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Table A-11. Parks and Recreation Expenses, Residential Only Budget Direct
Revenue
Percent Variable Variable Cost
Administration Division $2,344,976 $525,557 75% $1,364,564 Parks (1) $9,033,152 $0 0% $0
Pools $1,405,285 $0 75% $1,053,964
Buildings $1,320,398 $0 75% $990,299
Operations $534,380 $0 75% $400,785
Recreation Division $8,419,639 $3,717,000 75% $3,526,979
Total Variable Cost: $7,336,591
Existing Residents
132,476
Variable Cost Per Resident
$55.38
New Residents
3,870
Estimated Parks and Recreation Expense $214,000
Source: City of Santa Clara FY 2024-25 budget.
(1) Park maintenance variable expense assumed to be $0 since parks within the Project are to be privately maintained.
Table A-12. Other Expenses Estimated on Per Capita Basis, Residential Only Item
Residents or
Daytime Population Cost Factor Expense Estimate
General Government 3,926 $43.77 per daytime population $172,000 Library 3,870 $42.12 per resident $163,000
Community Development 3,926 $6.70 per daytime population $26,000
Total $361,000
Source: Applicant FIA with Areas A to C Removed.
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Table A-13. Santa Clara Unified School District Impacts, Residential Only
Market Rate Affordable
Total
Number of Residential Units
1,530 270
1,800 Units
K-12 Student Generation Rate (1) 0.03 0.56
Number of Added K-12 Students 45.9 151.2
197.1 Students
Estimated Increase in ADA 92.8% ADA as share of enrollment 183 ADA
Revenues
Property Tax $1,010,043,909 AV added 38.43% of 1% tax $3,882,000 Other Local Revenue $3,212 per ADA
$588,000
Federal Revenues $376 per ADA
$69,000
Other State Revenue $2,370 per ADA
$434,000
Total Revenue $4,973,000
Expenses $26,701 per ADA
$4,886,000
Net Annual Fiscal Impact
$87,000
(1) Student Generation Rates derived by Enrollment Projection Consultants for Santa Clara Unified, January 2020.
Source: Applicant FIA with Areas A to C Removed.
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APPENDIX B: ANALYSIS OF OPTION B
The following tables provide the supporting analysis for findings in Tables 1 through 4 evaluating the fiscal impacts of Option B, which includes up to 2,600 residential units (800 more than the Option A) and a 790,000 square foot reduction in the Office/R&D component to 2.2 million square feet. Analysis of Option B reflects the Applicant FIA methodology and assumptions, without updating to reflect current budget information or tax rates, and incorporates the recommended modifications described in Section II. As shown in Table B-1, Option B is estimated to generate a net positive fiscal impact of approximately $3.1 million to the City’s General Fund. Supporting analysis is provided in Appendix Tables B-2 to B-13.
Table B-1. General Fund Revenue and Expenses, Option B
General Fund Revenues
Property Tax $3,832,000
Property Tax In Lieu of VLF $1,286,000
Sales and Use Tax $971,000
SVP Transfers $498,000
Franchise Fees $250,000
Permits and Licenses $198,000
Transient Occupancy Tax $105,000
Document Transfer Tax $113,000
Business License Tax $66,000
Fines and Forfeitures $80,000
Total Revenues $7,399,000
General Fund Service Costs
Fire/EMS $1,196,000
Police $1,496,000
Public Works $542,000
General Government $451,000
Parks & Recreation $310,000
Library $235,000
Planning & Inspection $69,000
Total Expenditures $4,299,000
Net Annual Fiscal Impact $3,100,000
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Table B-2. Population and Employment, Option B
Item Development Population / Employment Factor Population Employees Daytime Pop(1) Residential
BMR 390 units 2.15 population per unit 47 units/employee 839 8 843 Market Rate 2,210 units 2.15 population per unit 47 units/employee 4,752 47 4,775 Subtotal 2,600 units
5,590 55 5,618
Commercial
Office/R&D 2,210,000 sq.ft. 250 sq.ft./employee
employee/sq.ft.
8,840 4,420
Retail/Amenities 100,000 sq.ft. 204 sq.ft./employee
employee/sq.ft.
490 245
Childcare 10,000 sq.ft. 286 sq.ft./employee
employee/sq.ft.
35 17
Subtotal 2,320,000 sq.ft.
9,365 4,683
Total 5,590 9,420 10,300 Source: Applicant FIA as adjusted to Option B
(1) Calculated as one per resident and 0.5 per employee.
Table B-3. Assessed Value, Option B
Residential
BMR 390 units assume exempt
Market Rate 2,210 units $700,821 /unit $1,548,815,147 Subtotal
2,600 units
$1,548,815,147
Commercial
Office 2,210,000 sq.ft. $1,117 /sq.ft. $2,468,570,000
Retail/Amenities 100,000 sq.ft. $822 /sq.ft. $82,200,000 Childcare 10,000 sq.ft. $372 /sq.ft. $3,720,000
Subtotal
2,320,000 sq.ft.
$2,554,490,000
Total Assessed Value $4,103,305,147
Less Existing Assessed Value
($290,034,923)
Net Increase in Assessed Value
$3,813,270,224
Source: Applicant FIA as adjusted to Option B
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Table B-4. Property Tax and Transfer Tax Estimates, Option B
Property Taxes
Net Value Increase $3,813,270,224 1% Property Tax
$38,132,702
City Share of Property Taxes 10.1% of 1% tax $3,832,000
Property Tax In Lieu of VLF
Existing Citywide Property Tax in Lieu of VLF
$19,200,000
Citywide Assessed Value
$56,925,917,348
Net Assessed Value Increase with Project
6.699%
Property Tax In Lieu of VLF $1,286,000
Real Property Document Transfer Tax Value %Turnover Turnover Value Residential $1,548,815,147 5.0% per Year $77,440,757
Commercial $2,554,490,000 5.0% per Year $127,724,500
Total $4,103,305,147 $205,165,257
Transfer Tax $0.55 per $1,000 in AV $113,000
Source: Applicant FIA as adjusted to Option B
Table B-5. Silicon Valley Power Transfers, Option B
Total Electricity Use: SVP Service Area (1) 4,382.10 Gigawatt Hours 14,952,000 Million BTUs per year 3,412.14 Million BTUs per Gigawatt
Project Electric use (2)
254,284 M Btu per year
Less: Adjustment for Option B (3)
(20,494) M Btu per year
Less: Existing Site Electric use (4)
(1,636) M Btu per year
Net Increase in Electric use
232,154
% of Total Project GSF
100%
Percent Increase in Usage: SVP System
1.56%
Existing 23-24 Budgeted SVP Transfers
$32,000,000
Estimated SVP Transfer Revenue $498,000
(1) Per DEIR Table 3.5-2.
(2) Per DEIR Table 3.5-5.
(3) Adjustment for decrease in office/R&D and increase in residential use estimated based upon the U.S. Department of Energy, 2018 Commercial Buildings Energy Consumption Survey (CBECS), Pacific Region and 2020 Residential Energy Consumption Survey (RECS) data for apartments with five or more units, indicating residential units use approximately 7,612 kwh per year less energy than 1,000 square feet of office space.
(4) Per DEIR Table 3.5-3.
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Table B-6. Sales Tax Estimate, Option B
taxable sales per unit, worker or sq.ft. Units/Workers % Net New % in Santa Clara Total Market Rate Units $33,173 Taxable Sales Per Unit 2,210 Units 100% 50% $36,656,476 Below Market Rate Units $25,958 Taxable Sales Per Unit 390 Units 100% 50% $5,061,810 Employee Spend $4,958 Taxable Sales Per Worker 9,420 Workers 100% 33.3% $15,570,101 Business Spend/Catering $1,600 Taxable Sales Per Worker 9,420 Workers 100% 100% $15,070,901 Retail $494 Avg. Taxable Sales Per Sq.ft. 100,000 sq.ft. 50% 100% $24,694,800
$97,054,088
Sales Tax Estimate =1% taxable sales $971,000
Source: Applicant FIA as adjusted to Option B
Table B-7. Silicon Valley Power Transfers, Option B
Hotel Room Nights 2,210,000 sq.ft. office 5 per 1,000 office sq. ft. 11,050 room nights Gross Daily Room Revenue $200 per night 50% Captured in Santa Clara $1,105,000 room sales Hotel Taxes 9.50% $105,000
Source: Applicant FIA as adjusted to Option B. TOT rate was not adjusted to the current rate to remain consistent with the Applicant FIA assumptions and use of prior budget information.
Table B-8. Other Revenues Estimated on Per Capita Basis, Option B Item
Employment or
Daytime Population Allocation Factor Revenue Estimate
Franchise Fees 10,300 $24.31 per daytime population $250,000 Fines and Forfeitures 10,300 $7.80 per daytime population $80,000 Permits and Licenses 10,300 $19.19 per daytime population $198,000 Business License Tax 9,420 $7.02 per employee $66,000
Total Revenues $594,000
Source: Applicant FIA as adjusted to Option B. Business license tax rate was not adjusted to the current rate to remain consistent with the Applicant FIA assumptions and use of prior budget information.
Table B-9. Fire/EMS Service Cost Estimate, Option B
FY 23-24 Field Ops and EMS Division costs
$57,020,592
Fire/EMS Calls For Service, 2023
10,586
Cost Per Service Call
$5,386
Calls for Service, Proposed Project Call Generation Development Estimated Calls for Service Market Rate Residential 0.0344 2,210 76
Affordable Residential 0.0408 390 16
Office (1) 0.0511 2,210,000 113
Retail / Amenities 0.1563 110,000 17
Total Calls
222
Estimated Fire/EMS Service Expense = no. of calls x cost per call $1,196,000 (1) Uses Santa Clara Gateway call generation rate.
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Table B-10. Police Service Cost Estimate, Option B
23-24 Budget Percent Variable Variable Cost
Administrative Services $20,300,570 75% $15,225,428
Field Operations $45,311,222 100% $45,311,222
Investigations $16,060,444 100% $16,060,444
Special Operations $3,926,326 0% $0
Total $85,598,562
$76,597,094
Police Calls For Service, 2023(1)
37,558
Variable Cost Per Service Call
$2,039
Calls for Service, Proposed Project Call Generation Development Estimated Calls for Service Market Rate Residential 0.1410 2,210 312
Affordable Residential 0.3214 390 125
Office (2) 0.0600 2,210,000 133
Retail / Amenities 1.4912 110,000 164
Total Calls
734
Estimated Police Service Expense = no. of calls x cost per call $1,496,000 (1) Represents calls for service with Police Beat and location, excluding traffic-related incidents. (2) A comparison to pre-pandemic call generation rates indicates call volume to office uses dropped by half.
Estimate based on double the 2023 call generation rate for Santa Clara Gateway.
Table B-11. Public Works Expense Estimate, Option B
Budget Direct Revenue Percent Variable Variable Cost
Administrative Services $25,203,805 $6,818,366 75% $13,789,079 Existing Daytime Service Population
196,597
Variable Cost Per Daytime Service Population
$70.14
Less: Adjustment for Private Street Maintenance
25% ($17.54)
Adjusted Variable Cost Per Daytime Service Population
$52.61
Daytime Service Population
10,300
Estimated Public Works Expense $542,000
Source: Applicant FIA as adjusted to Option B and modified adjustment for private maintenance.
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Table B-12. Parks and Recreation Expenses, Option B
Budget Direct Revenue Percent Variable Variable Cost
Administration Division $2,344,976 $525,557 75% $1,364,564 Parks (1) $9,033,152 $0 0% $0
Pools $1,405,285 $0 75% $1,053,964
Buildings $1,320,398 $0 75% $990,299
Operations $534,380 $0 75% $400,785
Recreation Division $8,419,639 $3,717,000 75% $3,526,979
Total Variable Cost: 7,336,591
Existing Residents
132,476
Variable Cost Per Resident
$55.38
New Residents
5,590
Estimated Parks and Recreation Expense $310,000
Source: City of Santa Clara FY 2024-25 budget.
(1) No variable cost assumed since new parks within project are to be privately maintained per the proposed DA.
Table B-13. Other Expenses Estimated on Per Capita Basis, Option B Item
Employment or
Daytime Population Cost Factor Expense Estimate
General Government 10,300 $43.77 per daytime population $451,000 Library 5,590 $42.12 per resident $235,000
Community Development 10,300 $6.70 per daytime population $69,000 Total Revenues $755,000
Source: Applicant FIA as adjusted to Option B.
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Table B-14. Santa Clara Unified School District Impacts, Option B
Market Rate Affordable
Total
Number of Residential Units
2,210 390
2,600 Units
K-12 Student Generation Rate (1) 0.03 0.56
Number of Added K-12 Students 66.3 218.4
284.7 Students
Estimated Increase in ADA 92.8% ADA as share of enrollment 264 ADA
Revenues
Property Tax $3,813,270,224 AV added 38.43% of 1% tax $14,654,000 Other Local Revenue $3,212 per ADA
$848,000
Federal Revenues $376 per ADA
$99,000
Other State Revenue $2,370 per ADA
$626,000
Total Revenue $16,227,000
Expenses $26,701 per ADA
$7,049,000
Net Annual Fiscal Impact
$9,178,000
(1) Student Generation Rates derived by Enrollment Projection Consultants for Santa Clara Unified, January 2020.
Source: Applicant FIA as adjusted to Option B.