14. Legal Debt Margin Information – Last Ten Fiscal Years Draft
233
Table 15
Fiscal Year
Ending June 30
Gross
Revenue
Less
Operating
Expense
Net Revenue
Available For
Debt Service Principal Interest
Letter Of
Credit
Fees Total Coverage (1)
2015 / 16 359,084 $ 316,578 $ 42,506$ 8,958 $ 8,348 $ 358 $ 17,664 $ 2.41 2016 / 17 352,828 317,237 35,591 7,640 8,434 335 16,409 2.17 2017 / 18 383,662 346,825 36,837 11,416 6,594 302 18,312 2.01 2018 / 19 414,975 331,141 83,834 11,897 11,565 607 24,069 3.48 2019 / 20 445,142 368,162 76,980 11,700 6,787 316 18,803 4.09 2020 / 21 465,675 407,627 58,048 9,580 3,862 349 13,791 4.21 2021 / 22 550,445 493,302 57,143 13,005 3,232 8 16,245 3.52 2022 / 23 635,066 602,370 32,696 13,580 2,696 15 16,291 2.01 2023 / 24 635,038 518,547 116,491 15,140 2,254 6 17,400 6.69 2024 / 25 860,791 570,619 290,172 15,460 5,767 581 21,808 13.31 Notes:
Source: City of Santa Clara
CITY OF SANTA CLARA
Last Ten Fiscal Years
(In Thousands)
(1) The required coverage is 1.00.
PLEDGED REVENUE COVERAGE
ELECTRIC REVENUE BOND
15. Pledged Revenue Coverage Electric Revenue Bond – Last Ten Fiscal Years Draft
234
Table 16
Per
Capita Public County City
Personal Buying Median School Unemployment Unemployment Year Population Income Income Age Enrollment Rate Rate
($000)
2015 / 16 123,752 5,194,006$ 41,971 $ 34.3 15,388 4.2% 3.7% 2016 / 17 123,983 5,454,137 43,991 34.3 15,409 3.8% 3.4% 2017 / 18 129,604 6,064,143 46,790 34.3 15,509 2.9% 2.7% 2018 / 19 128,717 6,121,909 47,561 33.9 15,387 2.1% 1.9% 2019 / 20 129,104 6,180,008 47,868 34.2 15,306 11.0% 9.0% 2020 / 21 130,746 6,596,037 50,449 33.9 14,808 7.0% 5.9% 2021 / 22 130,127 7,540,481 57,947 34.0 14,028 1.8% 1.6% 2022 / 23 132,476 8,953,977 67,589 34.5 13,919 3.2% 2.9% 2023 / 24 132,048 9,985,016 75,617 34.8 14,236 3.4% 3.2% 2024 / 25 134,587 10,972,709 81,529 34.4 14,448 3.8% 3.3% Sources: MuniServices, LLC \ Avenu Insights & Analytics (1) Population data by the California Department of Finance Projections. (2) The California Department of Finance demographics estimates now incorporate 2010 Census counts as a benchmark. (3) Unemployment and Total Employment Data are provided by the EDD's Bureau of Labor Statistics Department. (4) Student Enrollment reflects the total number of students enrolled in the Santa Clara Unified School District.
Other school districts within the City are not accounted for in this report.
CITY OF SANTA CLARA
DEMOGRAPHIC AND ECONOMIC STATISTICS
Last Ten Calendar Years
16. Demographic and Economic Statistics – Last Ten C alendar Years Draft
235
Table 17
Percentage of Percentage of
Number of Total City Number of Total City
Company Employees Employment Employees Employment
Applied Materials, Inc. 8,500 21.1% 8,500 22.1% Intel Corporation 7,801 19.3% 7,801 20.3% Advanced Micro Devices Inc. 3,000 7.4%
Nvidia 2,700 6.7%
Kaiser Foundation Health Plan 2,600 6.4%
California's Great America 2,500 6.2% 2,500 6.5% Dell 2,088 5.2%
Santa Clara University 2,000 5.0% 1,200 3.1% City of Santa Clara 1,200 3.0% 1,759 4.6% Macy's 1,200 3.0% 1,200 3.1%
Avaya Inc. - - 2,000 5.2%
EMC Corporation - - 1,338 3.5%
Catalyst Semiconductor Inc - - 1,100 2.9% Lsa Global - - 1,001 2.6%
Total Top Ten 33,589 83.3% 28,399 73.9%
All Others 6,786 16.7% 10,022 26.1%
Total Employment 40,375 100% 38,421 100%
Sources: Fiscal year 2025: Reference Solutions database, Infogroup, Inc., Papillion, Nebraska Sources: Fiscal year 2016: ReferenceUSA database, infogroup, Inc., Papillion, Nebraska
CITY OF SANTA CLARA
PRINCIPAL EMPLOYERS
Current Year and Ten Years Ago
2025 2016
17. Principal Employers – Current Year and Ten Years Ago Draft
236
Table 18
2025 2024 2023 2022 2021 2020 2019 2018 2017 2016
City Council 10.00 10.00 9.00 9.00 9.00 10.00 10.00 11.00 10.00 9.00 City Clerk 7.00 7.00 7.00 6.00 7.00 5.00 6.00 7.00 7.00 5.00 City Attorney 8.00 7.00 8.00 8.00 8.00 7.00 7.00 6.00 6.00 6.00 City Auditor 2.00 2.00 3.00 3.00 3.00 3.00 - - - - City Manager 19.00 11.30 19.00 19.00 13.00 13.00 13.00 14.00 13.00 16.00 Information Technology 7.00 6.00 6.00 6.00 7.00 7.00 7.00 7.00 7.00 5.00 Human Resources 15.00 15.00 15.00 14.00 15.75 15.75 15.00 15.00 15.00 14.50 Finance 71.50 70.75 69.75 68.75 69.75 61.75 61.00 61.00 61.75 60.25 Parks & Recreation 77.75 77.75 77.75 77.75 82.75 82.75 80.75 80.75 79.00 82.75 Library 42.75 42.75 42.50 42.50 46.75 46.75 46.75 45.50 45.50 47.00 Community Development 79.00 75.00 73.00 72.00 68.75 66.00 65.00 64.00 56.00 42.00 Engineering 41.25 36.25 40.25 39.25 42.25 39.25 39.92 40.92 39.25 38.25 Building Maintenance 13.00 13.00 13.00 13.00 13.00 13.00 13.23 13.23 12.90 10.90 Street 55.55 55.60 55.60 55.50 60.60 60.60 58.60 58.60 59.60 65.35 Automotive Services 14.70 14.65 14.65 14.75 15.65 15.65 15.75 15.75 15.75 15.00 Police 231.00 231.00 231.00 221.00 239.00 239.00 239.00 239.00 231.00 222.00 Fire 173.50 173.50 155.50 154.50 168.25 167.25 167.25 167.50 166.50 179.50 Non-Departmental 19.00 5.70 - - 11.00 9.00 4.00 - - - Electric Utility 223.00 222.00 214.00 198.00 198.00 197.00 189.00 186.00 179.00 166.00 Water Utility 49.85 50.55 50.55 50.55 50.80 50.80 50.35 50.85 52.70 50.10 Sewer Utility 23.15 22.45 22.45 22.45 22.20 22.20 22.65 22.15 21.30 19.90 TOTAL 1,183.00 1,149.25 1,127.00 1,095.00 1,151.00 1,131.75 1,111.25 1,105.25 1,078.25 1,054.50 Source: City of Santa Clara Annual Budget
CITY OF SANTA CLARA
FULL-TIME EQUIVALENT BUDGETED CITY EMPLOYEES BY PROGRAM/FUNCTION Last Ten Fiscal Years
Fiscal Year Ending June 30
18. Full-Time Equivalent Budgeted City Employees by Program/Function – Last Ten Fiscal Years Draft
237
Table 19
2025 2024 2023 2022 2021 2020 2019 2018 2017 2016
Culture and Recreation:
Number of library items circulated 1,862,771 2,060,389 2,152,877 1,268,965 736,301 1,598,171 2,509,201 2,612,102 2,700,315 2,479,126 Fire Protection:
Number of calls answered 11,086 10,949 10,688 10,391 8,853 9,339 9,456 8,849 8,850 8,933 Number of inspections conducted 4,332 8,801 N/A 10,143 4,004 4,303 6,404 8,470 9,696 8,260 Police Protection:
Number of calls for service
(1)
49,871 47,828 43,306 61,421 67,211 63,860 58,912 53,865 50,429 51,853 Electric System:
Maximum annual demand (MW) 713.5 669.2 693.9 649.4 590.6 579.3 587.8 586.6 568.1 526.4 Total annual energy (Mwh) 4,956,957 4,657,586 4,568,293 4,361,658 3,956,474 3,773,864 3,693,251 3,733,800 3,628,200 3,488,004 Sewer System:
Number of service connections 27,522 25,312 26,105 25,682 25,948 25,359 25,481 26,236 26,162 25,744 Peak flow (5-day average, WPCP)
(MG) 110 110 110 110 110 110 110 110 110 110 Maximum daily capacity of
treatment plant (WPCP) (MGD) 167 167 167 167 167 167 167 167 167 167 Peak flow (5-day average, City)
(MGD) 16 16 16 16 16 16 16 16 16 16 Water System:
Number of service accounts 27,971 24,903 25,894 25,371 25,592 24,904 25,293 25,670 25,714 25,716 Daily Average consumption (MG) 14 15 14 13 16 16 16 15 15 15 Maximum daily capacity of plant:
Potable Water (MGD) 80 80 80 80 80 80 80 80 80 96 Recycled Water (MGD) 15 15 15 15 15 15 15 15 30 14 Note: (1) Data Based on Calendar Year
Source: City of Santa Clara
CITY OF SANTA CLARA
OPERATING INDICATORS BY FUNCTION/ACTIVITY
Last Ten Fiscal Years
Fiscal Year Ending June 30
19. Operating Indicators by Function/Activity – Last Ten Fiscal Years
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238
CITY OF SANTA CLARA
Table 20
2025 2024 2023 2022 2021 2020 2019 2018 2017 2016
Culture and Recreation:
Number of community centers 4 4 4 4 4 4 4 4 4 4 Number of parks 53 44 44 44 44 44 39 39 35 34 Park acreage 375 353 353 367 367 353 254 311 330 274 Number of golf courses - - - - - - 1 1 1 1 Number of swimming pools 11 11 11 11 11 11 11 11 11 5 Number of tennis courts 28 28 27 27 27 27 28 28 28 28 Number of lawn bowling greens 1 1 1 1 1 1 1 1 1 1 Number of lighted soccer fields 7 7 7 7 7 7 3 3 3 3 Number of lighted softball fields 4 4 4 4 4 4 7 7 7 7 Number of neighborhood park buildings 11 11 10 10 10 10 8 8 8 8 Number of gymnastic centers 1 1 1 1 1 1 1 1 1 1 Number of skate parks 1 1 1 1 1 1 1 1 1 1 Number of community theaters 1 1 1 1 1 1 1 1 1 1 Number of libraries 3 3 3 3 3 3 3 3 3 3 Cemetery 2 2 2 2 2 2 2 2 2 2 Fire Protection:
Number of stations 9 9 10 10 9 10 10 10 10 10 Police Protection:
Number of stations 2 1 1 1 1 2 2 2 2 2 Electric System:
Number of meters 62,081 60,795 59,297 59,227 58,230 57,066 55,971 55,139 54,942 53,824 Miles of high voltage lines 637 631 631 622 618 616 613 612 608 605 Number of substations 33 29 31 29 29 29 28 27 27 27 Sewerage and Storm Drain System:
Miles of sanitary sewers 288 288 288 288 288 288 288 288 288 288 Number of sanitary sewer pump stations 6 6 6 6 6 6 6 6 6 6 Miles of storm sewers 194 194 194 194 196 195 195 195 195 195 Number of treatment plants 1 1 1 1 1 1 Tertiary 1 Tertiary 1 Tertiary 1 Tertiary 1 Tertiary Number of storm drain pump stations 22 22 22 22 22 22 22 22 22 22 Water System:
Miles of water mains 306 306 306 306 306 306 335 335 335 310 Number of fire hydrants 3,648 3,648 3,437 3,437 3,248 3,429 3,404 3,382 3,501 3,383 Miles of recycled watermains 34 34 34 34 34 34 33 33 33 33 Streets:
Miles of Streets 252 252 252 252 252 252 252 252 252 252 Number of Street Lights 8,437 8,431 8,431 8,429 8,404 8,235 8,187 8,118 8,112 8,103 Number of Traffic Signals 161 160 157 186 183 182 207 207 207 206 Source: City of Santa Clara
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 YEARS DATE (2)
Liability
Comprehensive General Self-insured (Since 1987) $3 million n/a - Ongoing Excess Liability PRISM $50 million $2,898,340 1 7/1/2025 and various other carriers
Workers' Compensation Self-insured (since 1973) $750 thousand n/a - Ongoing Excess Workers' PRISM Statutory $1,481,262 1 7/1/2025 Compensation and various other carriers
Property Coverage
All Risks, including flood, Alliant Property Insurance
excluding earthquake Program (APIP) $1 billion $2,061,403 1 7/1/2025 Various excess carriers
Boiler and Machinery Alliant Property Insurance $100 million $16,326 1 7/1/2025 Program (APIP)
Various excess carriers
Financial Loss Bonds
Crime Coverage Bond PRISM $25 million $16,257 1 6/30/2025 Notes:
(1) Limits are per occurrence
(2) All policies have been renewed
Source: City of Santa Clara
CITY OF SANTA CLARA
STATEMENT OF INSURANCE COVERAGE
June 30, 2025
21. Statement of Insurance Coverage
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SUCCESSOR AGENCY CITY OF SANTA CLARA
STATISTICAL SECTION
This part of the City of Santa Clara’s Annual Comprehensive Report provides detailed information to better understand the data presented within the financial statements, note disclosures, and required supplementary information.
TABLES
REVENUE CAPACITY 1 - 3
Contains information to help the reader assess the Successor Agency’s most significant local revenue source, the property tax.
DEBT CAPACITY 4
Presents information to assess the affordability of the Successor Agency’s current levels of outstanding debts.
Successor Agency
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` `
Table 1
2025 2024 2023 2022 2021 2020 2019 2018 2017 2016
Real Property Value 6,876,668$ 6,573,299$ 5,996,569$ 5,790,301$ 5,708,617$ 5,372,322$ 6,024,538$ 6,136,642$ 5,710,559$ 4,474,495$ Other Property Value 34,081 32,851 26,855 33,102 28,733 25,324 22,913 25,857 27,877 796,082 Total Project Value 6,910,749 6,606,150 6,023,424 5,823,403 5,737,350 5,397,646 6,047,451 6,162,499 5,738,436 5,270,577 Less Base Value (8,838) (8,838) (8,838) (8,838) (8,838) (8,838) (8,838) (8,838) 49,632 49,322 Increment Over Base Value 6,901,911 6,597,312 6,014,586 5,814,565 5,728,512 5,388,808 6,038,613 6,153,661 5,788,068 5,319,899 Redevelopment Property
Tax Trust Fund (RPTFF) (1) - - - - - - - - - 5,697 Total Tax Revenue -$ -$ -$ -$ -$ -$ -$ -$ -$ 5,697$ Notes:
Source: City of Santa Clara / Santa Clara County Auditor
SUCCESSOR AGENCY OF THE CITY OF SANTA CLARA
BAYSHORE NORTH P ROJECT AREA
HISTORICAL TAX INCREMENT
Las t Ten Fis cal Years
(In Tho us ands )
(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
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244
Table 2
ASSESSED ASSESSED
PROPERTY PROPERTY PERCENT
ASSESSEE USE VALUATION OF TOTAL
1 Forty Niners SC Stadium Company LLC Commercial Office Building 824,299,415$ 11.93% 2 SI LLC Commercial Office Building 619,524,374 8.96% 3 Exchange Santa Clara Commercial Office Building 322,524,000 4.67% 4 Innovation Commons Owner LLC Commercial Office Building 295,835,617 4.28% 5 Apple Inc Commercial Office Building 255,240,714 3.69% 6 The Irvine Company Commercial Office Building 245,272,689 3.55% 7 PC Santa Clara Gateway 2 LLC Commercial Office Building 226,609,725 3.28% 8 SCT Owner LLC Commercial Office Building 209,792,223 3.04% 9 STC Venture LLC Commercial Office Building 192,645,216 2.79% 10 PRII Towers at Great America Owner LLC Commercial Office Building 186,969,014 2.71% TOTAL 3,378,712,987$ 48.90%
TOTAL AGENCY ASSESSED VALUE 6,910,749,141$
Source: HDL Coren & Cone
SUCCESSOR AGENCY OF THE CITY OF SANTA CLARA
BAYSHORE NORTH PROJECT AREA
TEN LARGEST ASSESSEES - TAXABLE VALUE
June 30, 2025
2. Ten Largest Assessees – Taxable Value
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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
1 984-92-103 FORTY NINERS 555,214,000$ S 15.0278 88,000,000$ Commerical 2 984-92-104 FORTY NINERS 555,214,000 S 15.0279 88,000,000 Commerical 3 984-92-103 FORTY NINERS 555,214,000 S 15.028 88,000,000 Commerical 4 984-92-104 FORTY NINERS 555,214,000 S 15.0281 88,000,000 Commerical 5 984-92-103 FORTY NINERS 554,267,314 S 17.0232 140,000,000 Commerical 6 984-92-104 FORTY NINERS 554,267,314 S 17.0233 140,000,000 Commerical 7 984-92-104 FORTY NINERS 548,980,708 S 16.0256 100,000,000 Commerical 8 984-92-103 FORTY NINERS 548,980,708 S 16.0257 100,000,000 Commerical 9 984-92-103 FORTY NINERS 253,784,158 S 18.1918 250,500,000 Commerical 10 22-0125223 APPLE INC 160,776,054 U 22.1293 50,100,000 N/A 11 21-0811071 CEDAR FAIR S 93,154,425 U 21.3482 46,577,214 N/A 12 21-0811089 CEDAR FAIR S 86,769,758 U 21.3483 42,989,135 N/A 13 21-0811097 CEDAR FAIR S 62,482,975 U 21.3484 35,620,612 N/A 14 21-0811105 CEDAR FAIR S 59,777,200 U 21.3485 29,888,601 N/A 15 17-018611 CEDAR FAIR S 59,280,246 U 17.1041 58,852,511 N/A 16 18-018278 CEDAR FAIR S 58,493,748 U 18.0594 50,547,232 N/A 17 18-0429201 CYXTERA COMM 46,130,484 U 22.416 16,130,000 N/A 18 104-50-025 COHERENT INC 46,023,273 S 15.0256 15,251,322 Commerical 19 10-037856 SAVVIS COMMU 45,935,890 U 10.5814 40,000,000 N/A 20 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
2023-24 Impacts
3. Assessment Appeal Activity of Top 20 Assessees
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246
Table 4
2024-25 Assessed Valuation: 6,910,749,141$
Base Year Valuation: (8,837,956)
Incremental Valuation: 6,901,911,185$
Total Debt Project Area’s Share of
6/30/2025 % Debt 6/30/25
OVERLAPPING TAX AND ASSESSMENT DEBT:
Santa Clara County 1,217,905,000$ 0.994% 12,105,976$
West Valley-Mission Community College District 631,255,000 3.449% 21,771,985 Santa Clara Unified School District 958,135,000 7.492% 71,783,474 El Camino Hospital District 98,789,066 0.008% 7,903 Santa Clara Valley Water District Benefit Assessment District 24,940,000 0.994% 247,904 TOTAL OVERLAPPING TAX AND ASSESSMENT DEBT 105,917,242$
OVERLAPPING GENERAL FUND DEBT:
Santa Clara County General Fund Obligations 1,002,458,930$ 0.994% 9,964,442$ Santa Clara County Pension Obligations 317,654,990 0.994% 3,157,491 Santa Clara County Board of Education Certificates of Participation 12,072,417 0.994% 120,000 West Valley-Mission Community College District General Fund Obligations 2,520,000 3.449% 86,915 Santa Clara Unified School District Certificates of Participation 10,859,000 7.492% 813,556 City of Santa Clara General Fund Obligations 7,970,000 10.545% 840,437 Santa Clara County Vector Control District Certificates of Participation - TOTAL OVERLAPPING GENERAL FUND DEBT 14,982,841$
Less: Santa Clara County supported obligations (24,055) COMBINED TOTAL DIRECT AND OVERLAPPING DEBT 120,900,083$ (2) TOTAL NET DIRECT AND OVERLAPPING BONDED DEBT 120,876,028$ (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 2024-25 Assessed Valuation :
Combined Total Direct and Overlapping Debt 1.75%
Net Combined Total Direct and Overlapping Debt 1.75%
Source: California Municipal Statistics, Inc.
SUCCESSOR AGENCY OF THE CITY OF SANTA CLARA
BAYSHORE NORTH PROJECT AREA
COMPUTATION OF DIRECT AND OVERLAPPING BONDED DEBT
June 30, 2025
4. Computation of Direct and Overlapping Bonded Debt
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