Exhibit A — Santa Rosa City Council, June 3, 2025

Exhibit A

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LEGAL DESCRIPTION
ENHANCED INFRASTRUCTURE FINANCING DISTRICT
CITY OF SANTA ROSA
(DOWNTOWN BUSINESS CORRIDOR)
REAL PROPERTY IN THE CITY OF SANTA ROSA, COUNTY OF SONOMA, BEING A PORTION OF SECTIONS 21 THROUGH 25, TOWNSHIP 7 NORTH, RANGE 8 WEST, MOUNT DIABLO MERIDIAN, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

COMMENCING AT THE CENTERLINE INTERSECTION OF COLLEGE AVENUE AND BROOKWOOD DRIVE; THENCE ALONG THE CENTERLINE OF BROOKWOOD DRIVE, SOUTH 12°35’04” EAST, A DISTANCE OF

36.19 FEET TO THE INTERSECTION WITH THE PROJECTED SOUTH RIGHT‐OF‐WAY OF COLLEGE AVENUE; THENCE, ALONG SAID PROJECTED RIGHT‐OF‐WAY, NORTH 87°49’29” WEST, A DISTANCE OF 41.36 FEET TO THE INTERSECTION OF THE SOUTHERL RIGHT‐OF‐WAY OF COLLEGE AVENUE AND WESTERLY RIGHT‐OF‐WAY OF BROCKWOOD DRIVE;
THENCE, ALONG THE WESTERLY RIGHT‐OF‐WAY OF BROOKWOOD DRIVE, THE FOLLOWING SIXTEEN (16) COURSES:

SOUTH 12°35'04" EAST, A DISTANCE OF 214.14 FEET TO THE BEGINNING OF A TANGENT CURVE, CONCAVE TO THE EAST, HAVING A RADIUS OF 814.49 FEET;
SOUTHERLY ALONG SAID CURVE, TO THE LEFT, THROUGH A CENTRAL ANGLE OF 2°26'30", AN ARC DISTANCE OF 34.71 FEET TO THE BEGINNING OF A COMPOUND CURVE, CONCAVE TO THE EAST, HAVING A RADIUS OF 1196.28 FEET, THE RADIAL LINE FROM SAID POINT BEARS NORTH 74°58'26" EAST; SOUTHERLY ALONG SAID CURVE TO THE LEFT, THROUGH A CENTRAL ANGLE OF 5°07'53", AN ARC DISTANCE OF 107.14 FEET;
SOUTH 25°01'49" EAST, A DISTANCE OF 74.71 FEET;
SOUTH 33°06'34" EAST, A DISTANCE OF 4.39 FEET;
SOUTH 28°00'54" EAST, A DISTANCE OF 35.49 FEET;
SOUTH 27°36'05" EAST, A DISTANCE OF 44.94 FEET;
SOUTH 28°47'39" EAST, A DISTANCE OF 30.12 FEET;
SOUTH 28°56'07" EAST, A DISTANCE OF 94.26 FEET;
SOUTH 23°51'33" EAST, A DISTANCE OF 120.94 FEET;
SOUTH 29°04'30" EAST, A DISTANCE OF 101.42 FEET;
SOUTH 30°22'28" EAST, A DISTANCE OF 130.19 FEET;

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SOUTH 29°23'42" EAST, A DISTANCE OF 98.18 FEET TO THE BEGINNING OF A NON‐TANGENT CURVE, CONCAVE TO THE NORTHEAST, HAVING A RADIUS OF 743.00 FEET, THE RADIAL LINE FROM SAID POINT BEARS NORTH 57°01'21" EAST;
SOUTHEASTERLY AND EASTERLY ALONG SAID CURVE, TO THE LEFT, THROUGH A CENTRAL ANGLE OF 44°34'44", AN ARC DISTANCE OF 578.09 FEET;
SOUTH 77°33'23" EAST TANGENT TO SAID CURVE, A DISTANCE OF 130.11 FEET TO THE BEGINNING OF A TANGENT CURVE, CONCAVE TO THE SOUTHWEST, HAVING A RADIUS OF 657.00 FEET; EASTERLY, SOUTHEASTERLY AND SOUTHERLY ALONG SAID CURVE, TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 57°43'37", AN ARC DISTANCE OF 661.94 FEET TO AN INTERSECTION WITH THE NORTHERLY RIGHT‐OF‐WAY OF SONOMA AVENUE;
THENCE, ALONG THE NORTHERLY RIGHT‐OF‐WAY OF SONOMA AVENUE THE FOLLOWING NINE (9) COURSES:

SOUTH 70°39'38" WEST, A DISTANCE OF 1644.42 FEET;
SOUTH 61°28'33" WEST, A DISTANCE OF 107.80 FEET;
SOUTH 62°05'14" WEST, A DISTANCE OF 209.57 FEET TO THE BEGINNING OF A TANGENT CURVE, CONCAVE TO THE SOUTHEAST, HAVING A RADIUS OF 543.00 FEET; SOUTHWESTERLY ALONG SAID CURVE, TO THE LEFT, THROUGH A CENTRAL ANGLE OF 14°22'53", AN ARC DISTANCE OF 136.29 FEET;
SOUTH 47°42'21" WEST TANGENT TO SAID CURVE, A DISTANCE OF 97.12 FEET; SOUTH 47°42'21" WEST, A DISTANCE OF 71.69 FEET;
SOUTH 47°42'21" WEST, A DISTANCE OF 249.45 FEET TO THE BEGINNING OF A TANGENT CURVE, CONCAVE TO THE NORTHWEST, HAVING A RADIUS OF 957.00 FEET; SOUTHWESTERLY ALONG SAID CURVE, TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 2°31'52", AN ARC DISTANCE OF 42.28 FEET;
SOUTH 50°14'13" WEST TANGENT TO SAID CURVE, A DISTANCE OF 247.89 FEET; THENCE SOUTH 24°59'20" EAST, A DISTANCE OF 88.46 FEET TO THE SOUTHERLY RIGHT‐OF‐WAY OF SONOMA AVENUE AND THE NORTHEAST CORNER OF THE LAND ESTABLISHED BY RECORD OF SURVEY BOOK 479, PAGE 15, RECORDS OF SONOMA COUNTY, CALIFORNIA; THENCE, ALONG THE EASTERLY LINE OF THE LAND ESTABLISHED BY SAID RECORD OF SURVEY THE FOLLOWING FIVE (5) COURSES:

SOUTH 09°08'33" EAST, A DISTANCE OF 167.23 FEET TO THE SOUTHERLY RIGHT‐OF‐WAY OF TUPPER STREET;
ALONG THE SOUTHERLY RIGHT‐OF‐WAY OF TUPPER STREET, NORTH 80°50'31" EAST, A DISTANCE OF

10.22 FEET;

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SOUTH 08°52'49" EAST, A DISTANCE OF 163.06 FEET TO THE SOUTHERLY LINE OF AN ALLEY; ALONG THE SOUTHERLY LINE OF AN ALLEY, SOUTH 80°47'18" WEST, A DISTANCE OF 14.60 FEET; SOUTH 08°52'49" EAST, A DISTANCE OF 147.90 FEET TO THE NORTHERLY RIGHT‐OF‐WAY OF CHARLES STREET;
THENCE, ALONG THE NORTHERLY RIGHT‐OF‐WAY OF CHARLES STREET, SOUTH 80°55'20" WEST, A DISTANCE OF 105.95 FEET TO AN INTERSECTION WITH THE NORTHERLY EXTENSION OF THE EASTERLY LINE OF LOTS 1 THROUGH 6, BLOCK 3 OF WHEELERS ADDITION AS RECORDED IN BOOK 1 OF MAPS, PAGE 10, RECORDS OF SONOMA COUNTY, CALIFORNIA;
THENCE, ALONG THE EXTENSION AND EASTERLY LINE OF LOTS 4 THROUGH 6 OF SAID BLOCK 3, SOUTH 08°52'49" EAST, A DISTANCE OF 144.40 FEET TO A POINT; THENCE NORTH 80°55'20" EAST, A DISTANCE OF 5.00 FEET TO THE NORTHEAST CORNER OF THE LAND DESCRIBED IN DOC. NO. 34778, REC. 03/15/1994, RECORDS OF SONOMA COUNTY, CALIFORNIA; THENCE, ALONG THE EASTERLY LINE OF THE LAND DESCRIBED IN SAID DOC. NO. 34778 AND DOC. NO. 2010040251 REC. 05/14/2010, RECORDS OF SONOMA COUNTY, CALIFORNIA, SOUTH 08°52'49" EAST, A DISTANCE OF 175.78 FEET TO A POINT ON THE SOUTHERLY RIGHT‐OF‐WAY OF WHEELER STREET; THENCE, ALONG THE SOUTHERLY RIGHT‐OF‐WAY OF WHEELER STREET, SOUTH 78°36'28" WEST, A DISTANCE OF 3.97 FEET TO THE NORTHEAST CORNER OF THE LAND DESCRIBED IN DOC. NO. 2019049806 REC. 07/19/2019;
THENCE, ALONG THE EASTERLY LINE OF THE LAND DESCRIBED IN DOC. NO. 2019049806, SOUTH 08°52'49" EAST, A DISTANCE OF 79.82 FEET TO A POINT ON THE NORTHERLY LINE OF THE LAND DESCRIBED IN DOC. NO. 2019076522 REC. 10/18/2019, RECORDS OF SONOMA COUNTY, CALIFORNIA; THENCE, ALONG SAID NORTHERLY LINE, NORTH 80°40'08" EAST, A DISTANCE OF 38.97 FEET TO THE NORTHEAST CORNER THEREOF;
THENCE, ALONG THE EASTERLY LINES OF SAID DOC. NO. 2019076522 AND PARCEL ONE OF DOC. NO. 2019033680 REC. 05/20/2019, RECORDS OF SONOMA COUNTY, CALIFORNIA, SOUTH 08°52'49" EAST, A DISTANCE OF 80.00 FEET TO THE SOUTHEAST CORNER THEREOF; THENCE, ALONG THE SOUTHERLY LINE OF SAID PARCEL ONE OF DOC. NO. 2019033680, SOUTH 80°53'50" WEST, A DISTANCE OF 45.00 FEET TO THE NORTHEAST CORNER OF PARCEL TWO OF DOC. NO. 2019033680, RECORDS OF SONOMA COUNTY, CALIFORNIA;
THENCE, ALONG THE EASTERLY LINE OF SAID PARCEL 2 AND SOUTHERLY EXTENSION THEREOF, SOUTH 08°52'49" EAST, A DISTANCE OF 120.00 FEET TO THE SOUTHERLY RIGHT‐OF‐WAY OF MILL STREET;
THENCE, ALONG THE SOUTHERLY RIGHT‐OF‐WAY OF MILL STREET, NORTH 81°06'39" EAST, A DISTANCE OF 125.00 FEET TO THE NORTHEAST CORNER OF LOT 134, BLOCK 3 OF WHEELER’S 2ND ADDITION, FILED IN BOOK 20, PAGE 25 OF MAPS, RECORDS OF SONOMA COUNTY; THENCE, ALONG THE EASTERLY LINE OF SAID LOT 134, SOUTH 08°52'49" EAST, A DISTANCE OF 120.17 FEET TO THE SOUTHEAST CORNER THEREOF;

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THENCE, ALONG THE SOUTHERLY LINE OF LOTS 132 THROUGH 134 OF SAID BLOCK 3, SOUTH 81°07'11" WEST, A DISTANCE OF 120.00 FEET TO THE NORTHEAST CORNER OF LOT 128 OF SAID BLOCK 3;
THENCE, ALONG THE EASTERLY LINE OF LOTS 126 THROUGH 128 OF SAID BLOCK 3 AND 198 THROUGH 200 OF BLOCK 7 OF SAID WHEELER’S 2ND ADDITION, SOUTH 08°52'49" EAST, A DISTANCE OF 290.30 FEET TO THE NORTHWEST CORNER OF LOT 228 OF SAID BLOCK 7; THENCE, ALONG THE NORTH LINE OF LOT 228 AND 227 OF SAID BLOCK 7, NORTH 81°12'39" EAST, A DISTANCE OF 60.00 FEET TO THE NORTHEAST CORNER OF THE LAND DESCRIBED IN DOC. NO. 2018040817 REC. 06/06/2018, RECORDS OF SONOMA COUNTY, CALIFORNIA; THENCE, ALONG THE EASTERLY LINE OF SAID DOC. NO. 2018040817, SOUTH 08°52'49" EAST, A DISTANCE OF 120.03 FEET TO THE NORTHERLY RIGHT‐OF‐WAY OF OAK STREET; THENCE SOUTH 12°53'31" WEST, A DISTANCE OF 53.92 FEET TO THE NORTHEAST CORNER OF LOT 274, BLOCK 9 OF SAID WHEELER’S 2ND ADDITION;
THENCE, ALONG THE EASTERLY LINE OF LOTS 274 AND 301 OF SAID BLOCK 9, SOUTH 08°52'49" EAST, A DISTANCE OF 239.95 FEET TO THE NORTHERLY RIGHT‐OF‐WAY OF MAPLE STREET; THENCE, ALONG THE NORTHERLY RIGHT‐OF‐WAY OF SAID MAPLE STREET, SOUTH 81°13'33" WEST, A DISTANCE OF 126.95 FEET;
THENCE SOUTH 74°40'45" WEST, A DISTANCE OF 110.71 FEET TO THE NORTHERLY RIGHT‐OF‐WAY OF STATE HIGHWAY 12;
THENCE, ALONG THE NORTHERLY LINE OF STATE HIGHWAY 12 AND THE EASTERLY RIGHT‐OF‐WAY OF THE 101 FREEWAY THE FOLLOWING TWENTY EIGHT (28) COURSES:

SOUTH 80°14'22" WEST, A DISTANCE OF 224.73 FEET TO THE BEGINNING OF A TANGENT CURVE, CONCAVE TO THE NORTH, HAVING A RADIUS OF 800.00 FEET;
WESTERLY ALONG SAID CURVE, TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 10°22'40", AN ARC DISTANCE OF 144.90 FEET;
NORTH 89°22'58" WEST TANGENT TO SAID CURVE, A DISTANCE OF 76.21 FEET TO THE BEGINNING OF A TANGENT CURVE, CONCAVE TO THE NORTH, HAVING A RADIUS OF 172.00 FEET; WESTERLY AND NORTHWESTERLY ALONG SAID CURVE, TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 28°11'57", AN ARC DISTANCE OF 84.65 FEET;
NORTH 44°27'01" WEST, A DISTANCE OF 188.30 FEET;
NORTH 41°18'26" WEST, A DISTANCE OF 112.35 FEET TO THE BEGINNING OF A TANGENT CURVE, CONCAVE TO THE SOUTHWEST, HAVING A RADIUS OF 500.00 FEET; NORTHWESTERLY ALONG SAID CURVE, TO THE LEFT, THROUGH A CENTRAL ANGLE OF 10°30'00", AN ARC DISTANCE OF 91.63 FEET;
NORTH 51°48'26" WEST TANGENT TO SAID CURVE, A DISTANCE OF 154.64 FEET;

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SOUTH 80°56'34" WEST, A DISTANCE OF 60.00 FEET;
NORTH 52°25'28" WEST, A DISTANCE OF 56.03 FEET TO THE BEGINNING OF A TANGENT CURVE, CONCAVE TO THE NORTHEAST, HAVING A RADIUS OF 300.00 FEET; NORTHWESTERLY ALONG SAID CURVE, TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 23°21'26", AN ARC DISTANCE OF 122.30 FEET;
NORTH 29°04'02" WEST TANGENT TO SAID CURVE, A DISTANCE OF 24.67 FEET; NORTH 09°11'44" WEST, A DISTANCE OF 17.22 FEET;
SOUTH 73°34'13" WEST, A DISTANCE OF 6.00 FEET;
NORTH 29°04'02" WEST, A DISTANCE OF 51.24 FEET;
NORTH 36°19'52" WEST, A DISTANCE OF 147.35 FEET;
NORTH 19°10'26" WEST, A DISTANCE OF 410.90 FEET;
NORTH 16°38'35" WEST, A DISTANCE OF 377.59 FEET;
NORTH 60°36'59" EAST, A DISTANCE OF 27.13 FEET TO THE BEGINNING OF A TANGENT CURVE, CONCAVE TO THE NORTHWEST, HAVING A RADIUS OF 12.00 FEET; NORTHEASTERLY AND NORTHERLY ALONG SAID CURVE, TO THE LEFT, THROUGH A CENTRAL ANGLE OF 72°01'10", AN ARC DISTANCE OF 15.09 FEET TO THE BEGINNING OF A REVERSE CURVE, CONCAVE TO THE SOUTHEAST, HAVING A RADIUS OF 30.00 FEET, THE RADIAL LINE FROM SAID POINT BEARS NORTH 78°35'49" EAST;
NORTHERLY, NORTHEASTERLY AND EASTERLY ALONG SAID CURVE TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 83°32'57", AN ARC DISTANCE OF 43.75 FEET; NORTH 72°08'46" EAST TANGENT TO SAID CURVE, A DISTANCE OF 22.80 FEET; NORTH 17°51'14" WEST, A DISTANCE OF 50.00 FEET;
SOUTH 72°08'46" WEST, A DISTANCE OF 21.91 FEET;
NORTH 64°11'15" WEST, A DISTANCE OF 25.60 FEET TO THE BEGINNING OF A TANGENT CURVE, CONCAVE TO THE SOUTH, HAVING A RADIUS OF 37.98 FEET;
NORTHWESTERLY AND WESTERLY ALONG SAID CURVE, TO THE LEFT, THROUGH A CENTRAL ANGLE OF 35°13'56", AN ARC DISTANCE OF 23.35 FEET;
SOUTH 80°34'49" WEST TANGENT TO SAID CURVE, A DISTANCE OF 17.86 FEET; NORTH 17°51'14" WEST, A DISTANCE OF 115.47 FEET;
THENCE SOUTH 44°50'16" WEST, A DISTANCE OF 320.08 FEET TO A POINT ON THE WESTERLY RIGHT‐ OF‐WAY OF THE 101 FREEWAY;
THENCE, ALONG THE WESTERLY RIGHT‐OF‐WAY OF THE 101 FREEWAY, SOUTH 38°07'18" WEST, A DISTANCE OF 95.43 FEET TO THE CENTERLINE OF SANTA ROSA CREEK;

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THENCE, ALONG THE CENTERLINE OF SANTA ROSA CREEK, THE FOLLOWING SIX (6) COURSES:

SOUTH 38°07'18" WEST, A DISTANCE OF 104.78 FEET;
SOUTH 75°39'23" WEST, A DISTANCE OF 66.78 FEET;
SOUTH 75°39'25" WEST, A DISTANCE OF 167.42 FEET;
NORTH 87°51'38" WEST, A DISTANCE OF 59.25 FEET;
SOUTH 21°30'26" EAST, A DISTANCE OF 18.16 FEET;
SOUTH 84°37'52" WEST, A DISTANCE OF 135.07 FEET TO THE EASTERLY RIGHT‐OF‐WAY OF RAILROAD STREET;
THENCE SOUTH 57°18'34" WEST, A DISTANCE OF 62.36 FEET TO THE INTERSECTION OF THE WESTERLY RIGHT‐OF‐WAY OF RAILROAD STREET AND NORTHERLY RIGHT‐OF‐WAY OF WALNUT DRIVE, SAID POINT ALSO BEING THE BEGINNING OF A NON‐TANGENT CURVE, CONCAVE TO THE SOUTH, HAVING A RADIUS OF 164.00 FEET, THE RADIAL LINE FROM SAID POINT BEARS SOUTH 29°08'38" WEST; THENCE, ALONG THE NORTHERLY RIGHT‐OF‐WAY OF WALNUT DRIVE, NORTHWESTERLY AND WESTERLY ALONG SAID CURVE, TO THE LEFT, THROUGH A CENTRAL ANGLE OF 40°57'39", AN ARC DISTANCE OF 117.24 FEET;
THENCE SOUTH 23°22'13" WEST, A DISTANCE OF 48.94 FEET TO THE NORTHEAST CORNER OF LOT 76 OF LUITWIG’S ADDITION, AS FILED IN BOOK 2, PAGE 7 OF MAPS, RECORDS OF SONOMA COUNTY, CALIFORNIA;
THENCE, ALONG THE EASTERLY LINE OF LOTS 76 THROUGH 78 OF SAID LUITWIG’S ADDITION, SOUTH 15°47'01" EAST, A DISTANCE OF 176.50 FEET TO THE SOUTHEAST CORNER OF SAID LOT 78; THENCEALONG THE SOUTHERLY LINE OF SAID LOT 78 AND THE WESTERLY EXTENSION THEREOF, SOUTH 74°12'59" WEST, A DISTANCE OF 194.01 FEET TO THE WESTERLY RIGHT‐OF‐WAY OF CHESTNUT STREEET;
THENCE, ALONG THE WESTERLY RIGHT‐OF‐WAY OF CHESTNUT STREET, SOUTH 15°47'01" EAST, A DISTANCE OF 151.41 FEET TO THE NORTHERLY RIGHT‐OF‐WAY OF STATE HIGHWAY 12; THENCE, ALONG THE NORTHERLY RIGHT‐OF‐WAY OF STATE HIGHWAY 12, THE FOLLOWING THREE (3) COURSES:

NORTH 72°13'20" WEST, A DISTANCE OF 150.39 FEET;
NORTH 80°54'55" WEST, A DISTANCE OF 175.52 FEET;
NORTH 86°28'05" WEST, A DISTANCE OF 467.20 FEET TO A POINT ON THE WESTERLY LINE OF LOT 19, BLOCK 1 OF ROBERTS ADDITION, AS FILED IN BOOK 19, PAGE 23 OF MAPS, RECORDS OF SONOMA COUNTY, CALIFORNIA;
THENCE, ALONG THE WESTERLY LINE OF LOTS 5 AND 19 THROUGH 23 OF SAID BLOCK 1, NORTH 16°16'47" WEST, A DISTANCE OF 348.03 FEET TO THE SOUTHERLY RIGHT‐OF‐WAY OF 3 RD STREET;

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THENCE NORTH 06°21'13" EAST, A DISTANCE OF 91.42 FEET TO THE SOUTHWEST CORNER OF LOT 4 OF PEARSON’S ADDITION, AS FILED IN BOOK 15, PAGE 1 OF MAPS, RECORDS OF SONOMA COUNTY, CALIFORNIA;
THENCE, ALONG THE WESTERLY LINE OF SAID LOT 4, NORTH 15°16'47" WEST, A DISTANCE OF 124.61 FEET TO THE NORTHWEST CORNER THEREOF;
THENCE, ALONG THE NORTHERLY LINE OF SAID LOT 4, NORTH 73°43'13" EAST, A DISTANCE OF 49.99 FEET TO THE NORTHEAST CORNER THEREOF;
THENCE, ALONG THE EASTERLY LINE OF SAID PEARSON’S ADDITION, NORTH 15°16'47" WEST, A DISTANCE OF 477.82 FEET TO THE SOUTHERN LINE OF SANTA ROSA CREEK; THENCE NORTH 36°41'19" WEST, A DISTANCE OF 210.49 FEET TO THE SOUTHWEST CORNER OF THE LAND ESTABLISHED BY RECORD OF SURVEY 599, PAGE 46, AND DESCRIBED IN DOC. NO. 2021140876 REC. 12/30/2021, BOTH RECORDS OF SONOMA COUNTY, CALIFORNIA; THENCE, ALONG THE WESTERLY LINE OF THE LAND DESCRIBED IN DOC. NO. 2021140873, NORTH 29°52'39" WEST, A DISTANCE OF 118.72 FEET TO THE SOUTHERLY RIGHT‐OF‐WAY OF 6TH STREET; THENCE, ALONG THE SOUTHERLY RIGHT‐OF‐WAY OF 6TH STREEET, NORTH 60°07'21" EAST, A DISTANCE OF 400.04 FEET TO AN INTERSECTION WITH THE SOUTHERLY EXTENSION OF THE WESTERLY LINE OF LOT 16, BLOCK 6, OF H.T. HEWEITT’S ADDITION, AS FILED IN BOOK 1, PAGE 18 OF MAPS, RECORDS OF SONOMA COUNTY, CALIFORNIA;
THENCE, ALONG SAID EXTENSION AND WESTERLY LINE OF SAID LOT 16, NORTH 30°10'45" WEST, A DISTANCE OF 180.19 FEET TO THE NORTHWEST CORNER THEREOF; THENCE, ALONG THE SOUTHERLY LINE OF LOTS 13 AND 15 OF SAID BLOCK 6, NORTH 60°07'21" EAST, A DISTANCE OF 80.00 FEET TO THE SOUTHEAST CORNER OF SAID LOT 13; THENCE, ALONG THE EASTERLY LINE OF SAID LOT 13, NORTH 30°10'45" WEST, A DISTANCE OF 121.44 FEET TO THE NORTHEAST CORNER THEREOF;
THENCE NORTH 29°42'59" WEST, A DISTANCE OF 60.00 FEET TO THE SOUTHEAST CORNER OF LOT 69, BLOCK 9 OF SAID H.T. HEWEITT’S ADDITION AS DESCRIBED IN DOC. NO. 2018066291 REC. 09/20/2018, RECORDS OF SONOMA COUNTY, CALIFORNIA;
THENCE, ALONG THE EASTERLY LINE OF SAID LOT 69, NORTH 30°05'44" WEST, A DISTANCE OF 120.00 FEET TO THE NORTHEAST CORNER OF SAID DOC. NO. 2018066291; THENCE, ALONG THE NORTHERLY LINE OF SAID DOCUMENT, SOUTH 60°13'55" WEST, A DISTANCE OF

40.00 FEET TO THE NORTHWEST CORNER THEREOF;
THENCE NORTH 30°05'44" WEST, A DISTANCE OF 28.73 FEET TO THE MID POINT OF LOT 5 OF SAID BLOCK 9;
THENCE, ALONG THE WEST LINE OF THE EAST HALF OF SAID LOT 5, NORTH 06°14'47" WEST, A DISTANCE OF 120.00 FEET TO THE SOUTHERLY RIGHT‐OF‐WAY OF 8TH STREET;

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THENCE, ALONG THE SOUTHERLY RIGHT‐OF‐WAY OF 8TH STREET, NORTH 83°45'13" EAST, A DISTANCE OF 39.06 FEET TO AN ANGLE POINT THEREIN;
THENCE, CONTINUING ALONG SAID SOUTHERLY RIGHT‐OF‐WAY, NORTH 60°26'42" EAST, A DISTANCE OF 79.48 FEET TO THE SOUTHERLY EXTENSION OF THE EASTERLY RIGHT‐OF‐WAY OF DONAHUE STREET; THENCE, ALONG THE EASTERLY RIGHT‐OF‐WAY OF DONAHUE STREET, NORTH 29°41'54" WEST, A DISTANCE OF 936.12 FEET TO AN INTERSECTION WITH THE NORTHERLY RIGHT‐OF‐WAY OF 9TH STREET; THENCE, ALONG THE NORTHERLY RIGHT‐OF‐WAY OF 9TH STREET THE FOLLOWING FOUR (4) COURSES:

SOUTH 77°41'20" WEST, A DISTANCE OF 254.72 FEET TO THE BEGINNING OF A TANGENT CURVE, CONCAVE TO THE NORTH, HAVING A RADIUS OF 457.00 FEET;
WESTERLY ALONG SAID CURVE, TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 14°17'28", AN ARC DISTANCE OF 113.99 FEET;
NORTH 88°01'12" WEST TANGENT TO SAID CURVE, A DISTANCE OF 595.72 FEET TO THE BEGINNING OF A TANGENT CURVE, CONCAVE TO THE NORTHEAST, HAVING A RADIUS OF 15.00 FEET; WESTERLY, NORTHWESTERLY AND NORTHERLY ALONG SAID CURVE, TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 84°50'30", AN ARC DISTANCE OF 22.21 FEET TO THE EASTERLY RIGHT‐OF‐WAY OF DUTTON AVENUE;
THENCE, ALONG THE EASTERLY RIGHT‐OF‐WAY OF DUTTON AVENUE THE FOLLOWING FIVE (5) COURSES:

NORTH 03°10'42" WEST TANGENT TO SAID CURVE, A DISTANCE OF 119.35 FEET TO THE BEGINNING OF A TANGENT CURVE, CONCAVE TO THE SOUTHWEST, HAVING A RADIUS OF 540.00 FEET; NORTHERLY AND NORTHWESTERLY ALONG SAID CURVE, TO THE LEFT, THROUGH A CENTRAL ANGLE OF 52°17'05", AN ARC DISTANCE OF 492.77 FEET TO THE BEGINNING OF A REVERSE CURVE, CONCAVE TO THE NORTHEAST, HAVING A RADIUS OF 460.00 FEET, THE RADIAL LINE FROM SAID POINT BEARS NORTH 34°32'13" EAST;
NORTHWESTERLY AND NORTHERLY ALONG SAID CURVE TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 58°41'28", AN ARC DISTANCE OF 471.20 FEET;
NORTH 03°13'41" EAST TANGENT TO SAID CURVE, A DISTANCE OF 472.71 FEET TO THE BEGINNING OF A TANGENT CURVE, CONCAVE TO THE SOUTHEAST, HAVING A RADIUS OF 30.00 FEET; NORTHERLY, NORTHEASTERLY AND EASTERLY ALONG SAID CURVE, TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 83°29'02", AN ARC DISTANCE OF 43.71 FEET TO THE SOUTHERLY RIGHT‐OF‐WAY OF COLLEGE AVENUE;
THENCE, ALONG THE SOUTHERLY RIGHT‐OF‐WAY OF COLLEGE AVENUE THE FOLLOWING EIGHTEEN (18) COURSES:

NORTH 86°42'43" EAST TANGENT TO SAID CURVE, A DISTANCE OF 92.90 FEET; SOUTH 89°52'36" EAST, A DISTANCE OF 84.03 FEET;

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NORTH 86°42'43" EAST, A DISTANCE OF 165.88 FEET;
NORTH 01°34'02" EAST, A DISTANCE OF 5.02 FEET;
NORTH 86°42'43" EAST, A DISTANCE OF 258.65 FEET;
SOUTH 88°04'22" EAST, A DISTANCE OF 178.22 FEET;
SOUTH 01°22'20" WEST, A DISTANCE OF 10.00 FEET;
SOUTH 88°04'22" EAST, A DISTANCE OF 204.94;
SOUTH 81°59'31" EAST, A DISTANCE OF 65.31 FEET;
SOUTH 88°04'22" EAST, A DISTANCE OF 53.00 FEET;
SOUTH 01°21'28" WEST, A DISTANCE OF 1.36 FEET;
SOUTH 88°17'24" EAST, A DISTANCE OF 53.00 FEET;
SOUTH 01°21'28" WEST, A DISTANCE OF 2.99 FEET TO THE BEGINNING OF A NON‐TANGENT CURVE, CONCAVE TO THE NORTH, HAVING A RADIUS OF 670.93 FEET, THE RADIAL LINE FROM SAID POINT BEARS NORTH 04°30'13" EAST;
EASTERLY ALONG SAID CURVE, TO THE LEFT, THROUGH A CENTRAL ANGLE OF 7°50'02", AN ARC DISTANCE OF 91.73 FEET;
NORTH 86°40'11" EAST TANGENT TO SAID CURVE, A DISTANCE OF 135.90 FEET; SOUTH 88°17'24" EAST, A DISTANCE OF 80.74 FEET;
SOUTH 82°06'05" EAST, A DISTANCE OF 96.91 FEET;
SOUTH 75°53'03" EAST, A DISTANCE OF 28.59 FEET TO THE WESTERLY RIGHT‐OF‐WAY OF STATE HIGHWAY 101;
THENCE, ALONG THE WESTERLY RIGHT‐OF‐WAY OF STATE HIGHWAY 101, SOUTH 01°30'17" WEST, A DISTANCE OF 138.54 FEET TO THE SOUTHEAST CORNER OF THE LAND DESCRIBED IN DOC. NO. 2021132797 REC. 12/06/2021, RECORDS OF SONOMA COUNTY, CALIFORNIA; THENCE, ALONG THE SOUTHERLY LINE OF SAID DOC. NO. 2021132797, NORTH 88°07'43" WEST, A DISTANCE OF 151.30 FEET TO THE SOUTHWEST CORNER THEREOF; THENCE, ALONG THE SOUTHWESTERLY LINE OF SAID DOC. NO. 2021132797, NORTH 01°30'17" EAST, A DISTANCE OF 33.78 FEET TO AN ANGLE POINT THEREIN;
THENCE, ALONG THE SOUTHERLY LINE OF SAID DOC. NO. 2021132797, THE LAND DESCRIBED IN DOC.

NO. 201901664 REC. 03/08/2019 AND DOC. NO. 2018087986 REC. 12/28/2018, BOTH RECORDS OF SONOMA COUNTY, CALIFORNIA, NORTH 88°04'22" WEST, A DISTANCE OF 180.01 FEET TO AN ANGLE POINT THEREIN;

Page 10 of 16 ends

THENCE, ALONG THE WESTERLY LINE OF SAID DOC. NO. 2018087986, NORTH 01°30'17" EAST, A DISTANCE OF 8.92 FEET TO THE SOUTHEAST CORNER OF THE LAND DESCRIBED IN DOC. NO. 2021140830 REC. 12/30/2021;
THENCE, ALONG THE SOUTHERLY LINE OF SAID DOC. NO. 2018087986, THE LAND DESCRIBED IN DOC.

NO. 2021140827 REC. 12/30/2021, DOC. NO. 2019044451 REC. 07/02/2019 AND DOC. NO. 2019044450 REC. 07/02/2019, ALL RECORDS OF SONOMA COUNTY, CALIFORNIA, NORTH 88°04'22" WEST, A DISTANCE OF 206.73 FEET TO THE SOUTHWEST CORNER OF SAID DOC. NO. 2019044450 AND THE EASTERLY RIGHT‐OF‐WAY OF CLEVELAND AVENUE;
THENCE, ALONG THE EASTERLY RIGHT‐OF‐WAY OF CLEVELAND AVENUE, SOUTH 01°30'17" WEST, A DISTANCE OF 312.90 FEET TO THE NORTHWEST CORNER OF LOT 24, BLOCK 3 OF MORGANS ADDITION TO SANTA ROSA, FILED IN BOOK 17, PAGE 18 OF MAPS, AND THE NORTHWEST CORNER OF THE LAND DESCRIBED IN DOC. NO. 19970102146 REC. 11/04/1997, BOTH RECORDS OF SONOMA COUNTY, CALIFORNIA;
THENCE, ALONG THE NORTHERLY LINE OF LOTS 22 THROUGH 24 NORTH 88°11'11" EAST, A DISTANCE OF 99.56 FEET TO THE NORTHEAST CORNER OF THE LAND DESCRIBED IN SAID DOC. NO. 19970102146; THENCE, ALONG THE EASTERLY LINE OF SAID DOC. NO. 19970102146, SOUTH 01°55'00" WEST, A DISTANCE OF 108.17 FEET TO THE NORTHERLY RIGHT‐OF‐WAY OF 11TH STREET; THENCE, ALONG THE NORTHERLY RIGHT‐OF‐WAY OF 11TH STREET, SOUTH 84°28'54" WEST, A DISTANCE OF 71.76 FEET;
THENCE SOUTH 55°44'18" WEST, A DISTANCE OF 67.79 FEET TO THE EASTERLY RIGHT‐OF‐WAY OF SONOMA‐MARIN AREA RAIL TRANSIT DISTRICT;
THENCE, ALONG SAID EASTERLY RIGHT‐OF‐WAY, SOUTH 34°15'42" EAST, A DISTANCE OF 689.71 FEET TO THE NORTHWEST CORNER OF THE LAND DESCRIBED IN DOC. NO. 2021085431 REC. 07/27/2021; THENCE, ALONG THE NORTHERLY AND EASTERLY LINES OF SAID DOC. NO. 2021085431 THE FOLLOWING FOUR (4) COURSES:

SOUTH 69°44'27" EAST, A DISTANCE OF 154.30 FEET TO THE BEGINNING OF A TANGENT CURVE, CONCAVE TO THE SOUTHWEST, HAVING A RADIUS OF 275.00 FEET; EASTERLY AND SOUTHEASTERLY ALONG SAID CURVE, TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 10°57'16", AN ARC DISTANCE OF 52.58 FEET TO THE BEGINNING OF A COMPOUND CURVE, CONCAVE TO THE SOUTHWEST, HAVING A RADIUS OF 20.00 FEET, THE RADIAL LINE FROM SAID POINT BEARS SOUTH 31°12'49" WEST;
SOUTHEASTERLY AND SOUTHERLY ALONG SAID CURVE TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 54°55'25", AN ARC DISTANCE OF 19.17 FEET;
SOUTH 03°51'46" EAST TANGENT TO SAID CURVE, A DISTANCE OF 149.79 FEET TO THE NORTHERLY RIGHT‐OF‐WAY OF 9TH STREET;

Page 11 of 16 ends

THENCE SOUTH 11°24'35" WEST, A DISTANCE OF 54.61 FEET TO THE INTERSECTION OF THE EASTERLY RIGHT‐OF‐WAY OF SONOMA‐MARIN AREA RAIL TRANSIT DISTRICT AND THE SOUTHERLY RIGHT‐OF‐WAY OF 9TH STREEET;
THENCE, ALONG THE SOUTHERLY RIGHT‐OF‐WAY OF 9TH STREET, NORTH 77°41'20" EAST, A DISTANCE OF 131.02 FEET TO THE BEGINNING OF A TANGENT CURVE, CONCAVE TO THE SOUTH, HAVING A RADIUS OF 15.00 FEET;
THENCE EASTERLY AND SOUTHEASTERLY ALONG SAID CURVE, TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 69°24'51", AN ARC DISTANCE OF 18.17 FEET TO THE WESTERLY RIGHT‐OF‐WAY OF WILSON STREET;
THENCE, ALONG THE WESTERLY RIGHT‐OF‐WAY OF WILSON STREET, SOUTH 32°53'49" EAST TANGENT TO SAID CURVE, A DISTANCE OF 117.00 FEET TO ANGLE POINT THEREIN; THENCE, CONTINUING ALONG SAID RIGHT‐OF‐WAY, SOUTH 29°44'49" EAST, A DISTANCE OF 322.16 FEET TO AN INTERSECTION WITH THE WESTERLY EXTENSION OF THE LAND DESCRIBED IN DOC. NO. 2023060367 REC. 12/11/2023, RECORDS OF SONOMA COUNTY, CALIFORNIA; THENCE, ALONG THE NORTHERLY LINE OF SAID DOC. NO. 2023060367 AND THE EXTENSION THEREOF, NORTH 60°28'07" EAST, A DISTANCE OF 410.27 FEET TO THE WESTERLY RIGHT‐OF‐WAY OF DAVIS STREET;
THENCE, ALONG THE WESTERLY RIGHT‐OF‐WAY OF DAVIS STREET, SOUTH 29°45'36" EAST, A DISTANCE OF 142.00 FEET TO AN INTERSECTION WITH THE WESTERLY EXTENSION OF THE NORTHERLY LINE OF LOT 4, BLOCK 6 OF WISE SUBDIVISION AS FILED IN BOOK 1, PAGE 4 OF MAPS, RECORDS OF SONOMA COUNTY, CALIFORNIA;
THENCE ALONG SAID NORTHERLY LINE AND EXTENSION THEREOF, NORTH 60°28'07" EAST, A DISTANCE OF 146.52 FEET TO THE NORTHEAST CORNER THEREOF AND THE WESTERLY RIGHT‐OF‐WAY OF STATE HIGHWAY 101;
THENCE SOUTH 64°49'35" EAST, A DISTANCE OF 767.25 FEET TO THE SOUTHWESTERLY CORNER OF LOT 7 OF BAYLER AND MENIHANS 2ND ADDITION AS FILED IN BOOK 33, PAGE 21 OF MAPS, RECORDS OF SONOMA COUNTY, CALIFORNIA;
THENCE, ALONG THE WESTERLY LINE OF LOST 1 THROUGH 7 OF SAID BAYLER AND MENIHANS 2ND ADDITION, NORTH 27°40'31" WEST, A DISTANCE OF 346.24 FEET TO THE SOUTHERLY RIGHT‐OF‐WAY OF 7TH STREET;
THENCE NORTH 20°37'16" WEST, A DISTANCE OF 49.97 FEET TO THE SOUTHWEST CORNER OF LOT 12 OF BAYLER AND MENIHANS AS FILED IN BOOK 2, PAGE 12 OF MAPS, RECORDS OF SONOMA COUNTY, CALIFORNIA;
THENCE, ALONG THE WESTERLY LINES OF LOTS 12 AND 13 OF SAID BAYLER AND MENIHANS, NORTH 27°44'31" WEST, A DISTANCE OF 100.00 FEET TO THE NORTHWEST CORNER OF SAID LOT 13; THENCE, ALONG THE NORTHERLY LINE OF SAID LOT 13, NORTH 66°22'37" EAST, A DISTANCE OF 123.24 FEET TO THE WESTERLY RIGHT‐OF‐WAY OF A STREET;

Page 12 of 16 ends

THENCE NORTH 69°31'55" EAST, A DISTANCE OF 60.66 FEET TO THE NORTHWEST CORNER OF LOT 16 OF KESSINGS ADDITION AS FILED IN BOOK 1, PAGE 3 OF MAPS, RECORDS OF SONOMA COUNTY, CALIFORNIA;
THENCE, ALONG THE NORTHER LINE OF LOTS 16 THROUGH 25 OF SAID KESSINGS ADDITION, NORTH 67°57'03" EAST, A DISTANCE OF 376.88 FEET TO THE NORTHEAST CORNER OF SAID LOT 25; THENCE, ALONG THE WESTERLY LINE OF LOT 3 OF SAID KESSINGS ADDITION, NORTH 30°02'57" WEST, A DISTANCE OF 19.93 FEET TO THE NORTHWEST CORNER THEREOF; THENCE, ALONG THE NORTHERLY LINE OF SAID LOT 3, NORTH 67°56'55" EAST, A DISTANCE OF 100.00 FEET TO A POINT ON THE WESTERLY RIGHT‐OF‐WAY OF B STREET; THENCE NORTH 59°57'05" EAST, A DISTANCE OF 60.00 FEET TO A POINT ON THE EASTERLY RIGHT‐OF‐ WAY OF B STREET;
THENCE, ALONG THE EASTERLY RIGHT‐OF‐WAY OF B STREET, NORTH 30°02'55" WEST, A DISTANCE OF 612.79 FEET TO THE INTERSECTION WITH THE SOUTHERLY RIGHT‐OF‐WAY OF TENTH STREET; THENCE NORTH 29°35'12" WEST, A DISTANCE OF 50.61 FEET TO THE INTERSECTION WITH THE NORTHERLY RIGHT‐OF‐WAY OF TENTH STREET AND THE EASTERLY RIGHT‐OF‐WAY OF B STREET; THENCE, ALONG THE EASTERLY RIGHT‐OF‐WAY OF B STREET, NORTH 01°34'51" EAST, A DISTANCE OF 128.04 FEET TO THE NORTHWEST CORNER OF THE LAND DESCRIBED IN DOC. NO. 2012062708 REC. 07/02/2012, RECORDS OF SONOMA COUNTY, CALIFORNIA;
THENCE, ALONG THE NORTHERLY LINE OF SAID DOC. NO. 2012062708 AND EASTERLY EXTENSION THEROF, SOUTH 88°00'00" EAST, A DISTANCE OF 111.54 FEET TO THE SOUTHWEST CORNER OF THE LAND DESCRIBED IN DOC. NO. 2019039497 REC. 06/12/2019;
THENCE, ALONG THE WESTERLY LINE OF SAID DOC. NO. 2019039497 NORTH 01°57'30" EAST, A DISTANCE OF 79.92 FEET TO AN ANGLE POINT THEREIN;
THENCE, ALONG THE SOUTHERLY LINE OF SAID DOC. NO. 2019039497, NORTH 87°58'35" WEST, A DISTANCE OF 12.07 FEET TO AN INTERSECTION WITH THE WESTERLY LINE OF SAID DOC. NO. 2019039497 AS EXTENDED FROM THE NORTH;
THENCE, ALONG THE WESTERLY LINE OF SAID DOC. NO. 2019039497 AND EXTENDED SOUTHERLY, NORTH 01°34'51" EAST, A DISTANCE OF 159.61 FEET TO THE NORTHWEST CORNER OF SAID DOC. NO. 2019039497;
THENCE, ALONG THE SOUTHERLY LINE OF DOC. NO. 2020111406 REC. 11/24/2020, RECORDS OF SONOMA COUNTY, CALIFORNIA, NORTH 88°09'54" WEST, A DISTANCE OF 100.00 FEET TO THE EASTERLY RIGHT‐OF‐WAY OF B STREET;
THENCE, ALONG THE EASTERLY RIGHT‐OF‐WAY OF B STREET, NORTH 01°34'55" EAST, A DISTANCE OF 114.52 FEET TO AN INTERSECTION WITH THE NORTHERLY RIGHT‐OF‐WAY OF LINCOLN STREET; THENCE, ALONG THE NORTHERLY RIGHT‐OF‐WAY OF LINCOLN STREET, THE FOLLOWING FIVE (5) COURSES:

Page 13 of 16 ends

SOUTH 84°02'03" WEST, A DISTANCE OF 3.41 FEET;
NORTH 01°47'03" EAST, A DISTANCE OF 5.05 FEET;
SOUTH 84°02'03" WEST, A DISTANCE OF 502.59 FEET TO AN INTERSECTION WITH THE EASTERLY RIGHT‐OF‐WAY OF GLENN STREET;
SOUTH 81°52'07" WEST, A DISTANCE OF 50.46 FEET TO AN INTERSECTION WITH THE WESTERLY RIGHT‐OF‐WAY OF GLENN STREET;
SOUTH 83°49'51" WEST, A DISTANCE OF 566.42 FEET TO AN INTERSECTION WITH THE EASTERLY RIGHT‐OF‐WAY OF MORGAN STREET;
NORTH 87°52'09" WEST, A DISTANCE OF 78.10 FEET TO AN INTERSECTION WITH THE EASTERLY RIGHT‐OF‐WAY OF STATE HIGHWAY 101;
THENCE, ALONG THE EASTERLY RIGHT‐OF‐WAY OF STATE HIGHWAY 101, THE FOLLOWING FOUR (4) COURSES:

NORTH 31°06'44" WEST, A DISTANCE OF 105.36 FEET;
NORTH 26°59'43" WEST, A DISTANCE OF 120.93 FEET TO THE BEGINNING OF A TANGENT CURVE, CONCAVE TO THE EAST, HAVING A RADIUS OF 35.00 FEET;
NORTHWESTERLY AND NORTHERLY ALONG SAID CURVE, TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 45°51'11", AN ARC DISTANCE OF 28.01 FEET TO A POINT OF CUSP ON A CURVE, CONCAVE TO THE SOUTHEAST, HAVING A RADIUS OF 22.97 FEET, THE RADIAL LINE FROM SAID POINT BEARS SOUTH 55°45'48" EAST;
NORTHEASTERLY AND EASTERLY ALONG SAID CURVE, TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 42°00'19", AN ARC DISTANCE OF 16.84 FEET TO THE SOUTHERLY RIGHT‐OF‐WAY OF COLLEGE AVENUE; THENCE, ALONG THE SOUTHERLY RIGHT‐OF‐WAY OF COLLEGE AVENUE, THE FOLLOWING TWENTY (20) COURSES:

NORTH 76°14'31" EAST TANGENT TO SAID CURVE, A DISTANCE OF 14.59 FEET TO THE BEGINNING OF A TANGENT CURVE, CONCAVE TO THE SOUTH, HAVING A RADIUS OF 666.99 FEET; EASTERLY ALONG SAID CURVE, TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 7°46'15", AN ARC DISTANCE OF 90.46 FEET;
NORTH 84°00'46" EAST TANGENT TO SAID CURVE, A DISTANCE OF 7.78 FEET; NORTH 87°34'10" EAST, A DISTANCE OF 94.62 FEET;
SOUTH 87°58'09" EAST, A DISTANCE OF 525.20 FEET;
SOUTH 80°33'23" EAST, A DISTANCE OF 80.41 FEET;
SOUTH 88°12'57" EAST, A DISTANCE OF 355.32 FEET;
NORTH 87°16'45" EAST, A DISTANCE OF 127.31 FEET;

Page 14 of 16 ends

SOUTH 01°47'03" WEST, A DISTANCE OF 5.00 FEET;
NORTH 87°16'45" EAST, A DISTANCE OF 50.00 FEET;
SOUTH 01°47'03" WEST, A DISTANCE OF 5.00 FEET;
NORTH 87°16'45" EAST, A DISTANCE OF 40.00 FEET;
SOUTH 01°47'03" WEST, A DISTANCE OF 5.00 FEET;
SOUTH 88°12'57" EAST, A DISTANCE OF 104.76 FEET;
SOUTH 89°22'45" EAST, A DISTANCE OF 171.23 FEET;
SOUTH 87°49'29" EAST, A DISTANCE OF 43.71 FEET;
NORTH 02°10'31" EAST, A DISTANCE OF 2.00 FEET;
SOUTH 87°49'29" EAST, A DISTANCE OF 650.54 FEET;
SOUTH 86°04'41" EAST, A DISTANCE OF 90.03 FEET;
SOUTH 87°49'29" EAST, A DISTANCE OF 1827.63 FEET TO THE POINT OF BEGINNING.

EXCEPTING THEREFROM REAL PROPERTY IN THE CITY OF SANTA ROSA, COUNTY OF SONOMA, BEING A PORTION OF SECTIONS 21 THROUGH 25, TOWNSHIP 7 NORTH, RANGE 8 WEST, MOUNT DIABLO MERIDIAN, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

COMMENCING AT THE CENTERLINE INTERSECTION OF COLLEGE AVENUE AND BROOKWOOD DRIVE; THENCE ALONG THE CENTERLINE OF BROOKWOOD DRIVE, SOUTH 12°35’04” EAST, A DISTANCE OF

36.19 FEET TO THE INTERSECTION WITH THE PROJECTED SOUTH RIGHT‐OF‐WAY OF COLLEGE AVENUE; THENCE, ALONG SAID PROJECTED RIGHT‐OF‐WAY, NORTH 87°49’29” WEST, A DISTANCE OF 808.48 FEET TO THE CENTERLINE OF KING STREET;
THENCE, ALONG THE CENTERLINE OF KING STREET, SOUTH 02°22’41” WEST A DISTANCE OF 143.47 FEET;
THENCE, NORTH 87°37’19” WEST A DISTANCE OF 25.00 FEET TO THE NORTHEAST CORNER OF LOT 62, BLOCK 6 OF FARMER AND AMES ADDITION, AS RECORDED IN BOOK 1, PAGE 8 OF MAPS, RECORDS OF SONOMA COUNTY, CALIFORNIA AND THE WESTERLY RIGHT‐OF‐WAY OF KING STREET, SAID POINT ALSO BEIN THE POINT OF BEGINNING;
THENCE, ALONG THE WESTERLY LINE OF KING STREET SOUTH 02°22'41" WEST, A DISTANCE OF 124.65 FEET;
THENCE, CONTINUING ALONG SAID WESTERLY RIGHT‐OF‐WAY, SOUTH 12°20'48" WEST, A DISTANCE OF 86.32 FEET;
THENCE, CONTINUING ALONG SAID WESTERLY RIGHT‐OF‐WAY, SOUTH 02°17'50" WEST, A DISTANCE OF 89.98 FEET TO THE NORTHEAST CORNER OF A PARCEL OF LAND SHOWN IN RECORD OF SURVEY BOOK 180, PAGE 49, RECORDS OF SONOMA COUNTY, CALIFORNIA;

Page 15 of 16 ends

THENCE, ALONG THE NORTHERLY LINE OF SAID PARCEL, NORTH 87°49'29" WEST, A DISTANCE OF

87.41 FEET TO A POINT ON THE EASTERLY LINE OF LOT 29, BLOCK 3 OF GREENS ADDITION, AS RECORDED IN BOOK 1, PAGE 2 OF MAPS, RECORDS OF SONOMA COUNTY; THENCE, ALONG THE EASTERLY LINE OF SAID LOT 29. SOUTH 01°59'39" WEST, A DISTANCE OF 50.00 FEET TO THE SOUTHEAST CORNER THEREOF;
THENCE, ALONG THE SOUTHERLY LINE OF LOTS 25 THROUGH 29 OF SAID BLOCK 3 AND THE WESTERLY EXTENSION THEREOF, NORTH 87°49'29" WEST, A DISTANCE OF 300.00 FEET TO A POINT ON THE WESTERLY RIGHT‐OF‐WAY OF BEAVER STREET;
THENCE, ALONG THE WESTERLY RIGHT‐OF‐WAY OF BEAVER STREET SOUTH 01°59'39" WEST, A DISTANCE OF 60.89 FEET TO THE NORTHERLY RIGHT‐OF‐WAY OF SEVENTH STREET; THENCE, ALONG THE NORTHERLY RIGHT‐OF‐WAY OF SEVENTH STREET, SOUTH 60°26'36" WEST, A DISTANCE OF 579.18 FEET TO THE WESTERLY RIGHT‐OF‐WAY OF HUMBOLDT STREET; THENCE, ALONG THE WESTERLY RIGHT‐OF‐WAY OF HUMBOLDT STREET, NORTH 29°28'13" WEST, A DISTANCE OF 100.00 FEET TO THE NORTHEAST CORNER OF LOT 29, BLOCK 7 OF SAID GREENS ADDITION; THENCE, ALONG THE NORTHERLY LINE OF SAID LOT 29 AND THE WESTERLY EXTENSION, SOUTH 60°26'36" WEST, A DISTANCE OF 222.05 FEET TO A POINT ON THE WESTERLY RIGHT‐OF‐WAY OF RILEY STREET;
THENCE, ALONG THE WESTERLY RIGHT‐OF‐WAY OF RILEY STREET, NORTH 29°42'24" WEST, A DISTANCE OF 352.44 FEET TO THE SOUTHERLY LINE OF BLOCK 7 OF SAID FARMER AND AMES ADDITION; THENCE, ALONG SAID SOUTHERLY LINE, SOUTH 87°37'19" EAST, A DISTANCE OF 47.21 FEET TO THE EATERLY RIGHT‐OF‐WAY OF RILEY STREET AND THE WESTERLY LINE OF THE LAND DESCRIBED IN DOC.

NO. 2016115471 REC. 12/14/2016;
THENCE, ALONG THE WESTERLY LINE OF SAID DOC. NO. 2016115471, NORTH 29°42'24" WEST, A DISTANCE OF 41.12 FEET TO THE NORTHWEST CORNER THEREOF; THENCE, ALONG THE NORTHERLY LINE OF SAID DOC. NO. 2016115471, NORTH 60°17'36" EAST, A DISTANCE OF 83.33 FEET TO A POINT ON THE WESTERLY LINE OF PARCEL MAP 506, RECORDS OF SONOMA COUNTY, CALIFORNIA;
THENCE, ALONG THE WESTERLY LINE OF SAID PARCEL MAP 506, NORTH 02°22'03" EAST, A DISTANCE OF 170.90 FEET TO A POINT ON THE SOUTHERLY RIGHT‐OF‐WAY OF CHERRY STREET; THENCE, ALONG THE SOUTHERLY RIGHT‐OF‐WAY OF CHERRY STREET, NORTH 87°37'19" WEST, A DISTANCE OF 468.67 FEET TO THE INTERSECTION OF THE EASTERLY RIGHT‐OF‐WAY OF MENDOCINO AVENUE;
THENCE NORTH 20°53'29" WEST, A DISTANCE OF 65.31 FEET TO THE INTERSECTION OF THE EASTERLY RIGHT‐OF‐WAY OF MENDOCINO AVENUE AND NORTHERLY RIGHT‐OF‐WAY OF CHERRY STREET; THENCE, ALONG THE NORTHERLY RIGHT‐OF‐WAY OF CHERRY STREET, SOUTH 87°37'19" EAST, A DISTANCE OF 499.71 FEET TO THE SOUTHWEST CORNER OF THE LAND DESCRIBED IN DOC. NO. 2007104690, REC. 09/26/2007;

Page 16 of 16 ends

THENCE, ALONG THE WESTERLY AND NORTHERLY LINES OF THE LAND DESCRIBED IN SAID DOC. NO. 2007104690 THE FOLLOWING SIX (6) COURSES:

NORTH 03°07'41" EAST, A DISTANCE OF 83.40 FEET;
NORTH 20°53'19" WEST, A DISTANCE OF 20.00 FEET;
NORTH 02°20'41" EAST, A DISTANCE OF 18.85 FEET;
SOUTH 87°37'19" EAST, A DISTANCE OF 20.17 FEET;
SOUTH 02°20'41" WEST, A DISTANCE OF 25.67 FEET;
SOUTH 87°37'19" EAST, A DISTANCE OF 96.42 FEET TO A POINT ON THE WESTERLY RIGHT‐OF‐WAY OF HUMBOLDT STREET;
THENCE, ALONG THE WESTERLY RIGHT‐OF‐WAY OF HUMBOLDT STREET, NORTH 02°22'41" EAST, A DISTANCE OF 50.01 FEET TO AN INTERSECTION WITH THE WESTERLY EXTENSION OF THE SOUTHERLY LINE OF LOTS 38 THROUGH 43 OF BLOCK 4 OF SAID FARMER AND AMES ADDITION; THENCE, ALONG THE SOUTHERLY LINE OF SAID LOTS 38 THROUGH 43, SOUTH 87°36'26" EAST, A DISTANCE OF 360.45 FEET TO THE EASTERLY RIGHT‐OF‐WAY OF ORCHARD STREET; THENCE, SOUTH 88°33'21" EAST, A DISTANCE OF 50.01 FEET TO THE SOUTHWEST CORNER OF LOT 50, BLOCK 5 OF SAID FARMER AND AMES ADDITION;
THENCE, ALONG THE SOUTHERLY LINE OF LOTS 50 THROUGH 55 OF SAID BLOCK 5, SOUTH 87°49'29" EAST, A DISTANCE OF 300.00 FEET TO THE WESTERLY RIGHT‐OF‐WAY OF BEAVER STREET; THENCE, ALONG THE WESTERLY RIGHT‐OF‐WAY OF BEAVER STREET, SOUTH 02°22'41" WEST, A DISTANCE OF 69.59 FEET TO AN INTERSECTION OF THE SOUTHERLY LINE OF THE LAND DESCRIBED IN DOC. NO. 2021055292 REC. 05/05/2021;
THENCE, ALONG THE SOUTHERLY AND EASTERLY LINES OF THE LAND DESCRIBED IN SAID DOC. NO. 2021055292 THE FOLLOWING FOUR (4) COURSES:

SOUTH 87°49'29" EAST, A DISTANCE OF 146.50 FEET;
NORTH 02°10'31" EAST, A DISTANCE OF 30.00 FEET;
SOUTH 87°49'29" EAST, A DISTANCE OF 23.50 FEET;
NORTH 02°10'31" EAST, A DISTANCE OF 34.42 FEET TO A POINT ON THE SOUTHERLY LINE OF LOT 65, BLOCK 6 OF SAID FARMER AND AMES ADDITION;
THENCE, ALONG THE SOUTHERLY LINE OF LOTS 65 THROUGH 69 OF SAID BLOCK 6, SOUTH 87°37'19" EAST, A DISTANCE OF 230.23 FEET TO THE POINT OF BEGINNING.

SAID PARCEL CONTAINING 419.41 ACRES MORE OR LESS.

© DTA, INC. DRAFT
DRAFT V8
3/6/2025
COUPON BOND CUMULATIVE CUMULATIVE BOND NPV (3%)
BOND RATE/ BONDED CONSTRUCTION PAY-AS-YOU-GO CONSTRUC. PROCEEDS BOND PROCEEDS

YEAR BOND TERM INDEBTEDNESS PROCEEDS REVENUE PLUS PAY-GO PLUS PAY-GO 2034 5.0% / 30 YRS $4,430,000 $3,925,372 $2,281,867 $6,207,239 $4,901,964 2039 5.0% / 30 YRS $3,280,000 $2,867,431 $4,099,461 $10,892,265 $8,059,578 2044 5.0% / 25 YRS $3,530,000 $3,076,588 $6,685,865 $16,555,257 $11,366,092 2049 5.0% / 20 YRS $3,665,000 $3,165,936 $10,174,415 $23,209,742 $14,731,377 2054 5.0% / 15 YRS $3,585,000 $3,035,838 $14,722,281 $30,793,447 $18,054,239 2059 5.0% / 10 YRS $3,135,000 $2,624,475 $20,515,026 $39,210,666 $21,251,647 2064 5.0% / 5 YRS $2,065,000 $1,677,525 $27,986,983 $48,360,148 $24,267,293 2070 5.0% / 0 YRS $0 $0 $44,218,846 $64,592,011 $28,811,960 TOTAL NA $23,690,000 $20,373,165 $44,218,846 $64,592,011 $28,811,960

TAX INCREMENT REVENUE ASSUMPTIONS BOND ASSUMPTIONS
TOTAL COUNTY SECURED PROPERTY TAX (% OF PROP 13 1%) [2] 19.83% TOTAL CITY SECURED PROPERTY TAX (% OF PROP 13 1%) [3] 11.99% COST OF ISSUANCE (FIXED) $150,000 PROPERTY TAX IN-LIEU OF VLF (% OF PROP 13 1%) [4] 5.43% COST OF ISSUANCE (VARIABLE) 1.50% CUMULATIVE EIFD TAX INCREMENT (2025 - 2070) $81,628,819 RESERVE FUND [5] 8.07% MAXIMUM BOND TERM 30
VALUATION ASSUMPTIONS MINIMUM DEBT SERVICE COVERAGE [9] 164.17% BASE YEAR VALUE FOR EIFD (RDA) PARCELS $958,907,258
BASE YEAR VALUE FOR EIFD (NON-RDA) PARCELS $122,887,701 % INCREASE IN ASSESSED VALUE OF RESIDENTIAL LAND USES 4.00% EIFD ASSUMPTIONS % INCREASE IN ASSESSED VALUE OF NON-RESIDENTIAL LAND USES 3.00% EIFD BASE YEAR 2024 FIRST YEAR OF EIFD INCREMENT 2025
OTHER ASSUMPTIONS TERM OF EIFD (YEARS) [7] 45
DISCOUNT RATE FOR NPV ANALYSIS 3.00% % OF CITY TAX INCREMENT TO EIFD 50% ANNUAL COUNTY/PFA ADMINISTRATION EXPENSE (%) 0.20% % OF COUNTY TAX INCREMENT TO EIFD 25% ANNUAL COUNTY/PFA ADMINISTRATION EXPENSE (FLAT $) $25,000 END YEAR FOR RDA 2033

AVERAGE BONDED BOND

GROSS ASSESSED VALUE GROSS VALUE INDEBTEDNESS PROCEEDS
LAND USE CLASS FOR EIFD [8] ACREAGE [6] PER ACRE (PER ACRE) (PER ACRE) CLASS 1RESIDENTIAL - RDA $138,655,801 34.41 $4,030,106 $88,254 $75,898 CLASS 2NON-RESIDENTIAL - RDA $820,251,457 206.41 $3,973,875 $87,023 $74,839 CLASS 3RESIDENTIAL - NON-RDA $55,824,427 35.21 $1,585,336 $34,717 $29,856 CLASS 4NON-RESIDENTIAL - NON-RDA $67,063,274 32.73 $2,049,173 $44,874 $38,592HIDE ROW TOTAL RDA $958,907,258 240.82 $8,003,981 $175,277 $150,737 TOTAL NON-RDA $122,887,701 67.94 $3,634,508 $79,591 $68,448 GRAND TOTAL $1,081,794,959 308.76 $11,638,489 $254,869 $219,185 [1] This analysis assumes that tax increment for RDA properties will NOT be available to the EIFD between 2024-25 through 2033-34, and will be pledged to prior City Successor Agency bond issues. [2] Source: County Auditor/Controller's Office. Allocation of 1% property tax, net of ERAF, for Santa Rosa EIFD. [3] Source: County Auditor/Controller's Office. Allocation of 1% property tax, net of ERAF, for Santa Rosa EIFD. [4] Based on current year (FY 2024-25) Citywide assessed value of $32.31 billion and a VLF plus true-up amount of $17.53 million. [5] Represents the average percentage of bond issuance funding the initial reserve requirement. The initial reserve requirement for each bond series is minimum of:
(i) 10% of bond amount, (ii) maximum annual debt service, and (iii) 125% of the average annual debt service. [6] Source: Sonoma County Assessor's Office
[7] DTA conservatively assumes 45 years after the first increment to EIFD, as it is currently unknown when the Public Financing Authority will approve the first bond issuance. [8]Source: Sonoma County Assessor's Office
[9] Bonds are sized to achieve at least 125% on TI revenues (excluding Property Tax in-lieu of VLF that will be received as pay-as-you-go revenue).

Therefore, overall coverage (including revenues from Property Tax in-lieu of VLF) is significantly greater than 125%.

SUMMARY OF COMPUTATIONS

PROJECTED TAX INCREMENT AND BONDED INDEBTEDNESS FOR

CITY OF SANTA ROSA/ COUNTY OF SONOMA
PROPOSED ENHANCED INFRASTRUCTURE FINANCING DISTRICT [1] (SANTA ROSA DOWNTOWN BUSINESS CORRIDOR)

MAJOR CONCLUSIONS

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0 0 0 0 0 0 0 0 0 1
FISCAL YEAR - COLLECTION OF TAXES/ASSESSMENTS 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30 2030-31 2031-32 2032-33 2033-34 CALENDAR YEAR - PAYMENTS TO BOND HOLDERS 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 I. CFD BONDED INDEBTEDNESS
ISSUANCE DATE *Sep 2034*
BOND TERM 30
TOTAL BONDED INDEBTEDNESS $0 $0 $0 $0 $0 $0 $0 $0 $0 $4,430,000 LESS: COSTS OF ISSUANCE / DISCOUNT $0 $0 $0 $0 $0 $0 $0 $0 $0 ($216,450) LESS: RESERVE REQUIREMENT $0 $0 $0 $0 $0 $0 $0 $0 $0 ($288,178) LESS: CAPITALIZED INTEREST $0 $0 $0 $0 $0 $0 $0 $0 $0 $0------------------------------------------------------------------------------------------------------ --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- TOTAL BOND FINANCED FACILITIES $0 $0 $0 $0 $0 $0 $0 $0 $0 $3,925,372 II. ABSORPTION - OPENING (as of 1/1)

LAND USE CATEGORIES
CLASS 1 RESIDENTIAL - RDA 34.41 34.41 34.41 34.41 34.41 34.41 34.41 34.41 34.41 34.41 CLASS 2 NON-RESIDENTIAL - RDA 206.41 206.41 206.41 206.41 206.41 206.41 206.41 206.41 206.41 206.41 CLASS 3 RESIDENTIAL - NON-RDA 35.21 35.21 35.21 35.21 35.21 35.21 35.21 35.21 35.21 35.21 CLASS 4 NON-RESIDENTIAL - NON-RDA 32.73 32.73 32.73 32.73 32.73 32.73 32.73 32.73 32.73 32.73 III. AVERAGE VALUATION

PER ACRE
CLASS 1 RESIDENTIAL - RDA $4,030,106 $4,191,310 $4,358,963 $4,533,321 $4,714,654 $4,903,240 $5,099,370 $5,303,345 $5,515,479 $5,736,098 CLASS 2 NON-RESIDENTIAL - RDA $3,973,875 $4,093,091 $4,215,884 $4,342,360 $4,472,631 $4,606,810 $4,745,014 $4,887,365 $5,033,986 $5,185,005 CLASS 3 RESIDENTIAL - NON-RDA $1,585,336 $1,648,749 $1,714,699 $1,783,287 $1,854,619 $1,928,803 $2,005,955 $2,086,194 $2,169,641 $2,256,427 CLASS 4 NON-RESIDENTIAL - NON-RDA $2,049,173 $2,110,648 $2,173,967 $2,239,186 $2,306,362 $2,375,553 $2,446,819 $2,520,224 $2,595,831 $2,673,706 IV. ASSESSED VALUATION

LAND USES VALUATION
CLASS 1 RESIDENTIAL - RDA $138,655,801 $144,202,033 $149,970,114 $155,968,919 $162,207,676 $168,695,983 $175,443,822 $182,461,575 $189,760,038 $197,350,439 CLASS 2 NON-RESIDENTIAL - RDA $820,251,457 $844,859,001 $870,204,771 $896,310,914 $923,200,241 $950,896,249 $979,423,136 $1,008,805,830 $1,039,070,005 $1,070,242,105 CLASS 3 RESIDENTIAL - NON-RDA $55,824,427 $58,057,404 $60,379,700 $62,794,888 $65,306,684 $67,918,951 $70,635,709 $73,461,138 $76,399,583 $79,455,566 CLASS 4 NON-RESIDENTIAL - NON-RDA $67,063,274 $69,075,172 $71,147,427 $73,281,850 $75,480,306 $77,744,715 $80,077,056 $82,479,368 $84,953,749 $87,502,362 ------------------------------------------------------------------------------------------------------ --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- GROSS ASSESSED VALUE $1,081,794,959 $1,116,193,610 $1,151,702,013 $1,188,356,571 $1,226,194,906 $1,265,255,897 $1,305,579,724 $1,347,207,911 $1,390,183,375 $1,434,550,472 LESS : ESTIMATED BASE YEAR VALUE (RDA) ($958,907,258) ($958,907,258) ($958,907,258) ($958,907,258) ($958,907,258) ($958,907,258) ($958,907,258) ($958,907,258) ($958,907,258) ($958,907,258) LESS : ESTIMATED BASE YEAR VALUE (NON-RDA) ($122,887,701) ($122,887,701) ($122,887,701) ($122,887,701) ($122,887,701) ($122,887,701) ($122,887,701) ($122,887,701) ($122,887,701) ($122,887,701) ------------------------------------------------------------------------------------------------------ --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- INCREMENTAL PROPERTY VALUE $0 $34,398,651 $69,907,054 $106,561,612 $144,399,947 $183,460,938 $223,784,765 $265,412,952 $308,388,416 $352,755,513 INCREMENTAL PROPERTY VALUE - RDA $0 $30,153,776 $61,267,627 $93,372,575 $126,500,659 $160,684,973 $195,959,700 $232,360,147 $269,922,785 $308,685,287 INCREMENTAL PROPERTY VALUE - NON-RDA $0 $4,244,875 $8,639,427 $13,189,037 $17,899,288 $22,775,965 $27,825,065 $33,052,805 $38,465,631 $44,070,227 V. TAX INCREMENT REVENUE
COUNTY SECURED PROPERTY TAX INCREMENT $0 $68,213 $138,627 $211,314 $286,348 $363,807 $443,770 $526,319 $611,540 $699,521 RDA $0 $59,796 $121,495 $185,160 $250,853 $318,642 $388,592 $460,775 $535,262 $612,129 NON-RDA $0 $8,418 $17,132 $26,154 $35,495 $45,165 $55,178 $65,544 $76,278 $87,392 CITY SECURED PROPERTY TAX INCREMENT $0 $41,229 $83,788 $127,721 $173,073 $219,890 $268,221 $318,115 $369,624 $422,801 RDA $0 $36,141 $73,433 $111,913 $151,619 $192,592 $234,871 $278,499 $323,520 $369,980 NON-RDA $0 $5,088 $10,355 $15,808 $21,453 $27,298 $33,350 $39,616 $46,104 $52,821 CITY PROPERTY TAX IN-LIEU OF VLF $0 $18,664 $37,931 $57,819 $78,350 $99,544 $121,423 $144,010 $167,328 $191,401 RDA $0 $16,361 $33,243 $50,663 $68,638 $87,186 $106,326 $126,076 $146,457 $167,489 NON-RDA $0 $2,303 $4,688 $7,156 $9,712 $12,358 $15,098 $17,934 $20,871 $23,912 ------------------------------------------------------------------------------------------------------ --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- GROSS TAX INCREMENT ("TI") $0 $128,107 $260,346 $396,854 $537,771 $683,241 $833,414 $988,444 $1,148,492 $1,313,723 RDA $0 $112,298 $228,171 $347,736 $471,111 $598,419 $729,788 $865,350 $1,005,240 $1,149,598 NON-RDA $0 $15,809 $32,175 $49,118 $66,660 $84,822 $103,625 $123,094 $143,253 $164,125

19.83%

11.99%

5.43%
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0 0 0 0 0 0 0 0 0 1
FISCAL YEAR - COLLECTION OF TAXES/ASSESSMENTS 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30 2030-31 2031-32 2032-33 2033-34 CALENDAR YEAR - PAYMENTS TO BOND HOLDERS 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 VI. TI REVENUE TO EIFD
COUNTY TAX INCREMENT $0 $17,053 $34,657 $52,828 $71,587 $90,952 $110,942 $131,580 $152,885 $174,880 RDA (1) (AVAILABLE AFTER 2033) $0 $14,949 $30,374 $46,290 $62,713 $79,660 $97,148 $115,194 $133,816 $153,032 NON-RDA (AVAILABLE AFTER 2025) $0 $2,104 $4,283 $6,539 $8,874 $11,291 $13,794 $16,386 $19,070 $21,848 CITY TAX INCREMENT (SECURED) $0 $20,615 $41,894 $63,861 $86,536 $109,945 $134,110 $159,057 $184,812 $211,400 RDA (1) (AVAILABLE AFTER 2033) $0 $18,071 $36,717 $55,957 $75,810 $96,296 $117,435 $139,249 $161,760 $184,990 NON-RDA (AVAILABLE AFTER 2025) $0 $2,544 $5,177 $7,904 $10,727 $13,649 $16,675 $19,808 $23,052 $26,411 CITY TAX INCREMENT (VLF) $0 $9,332 $18,965 $28,910 $39,175 $49,772 $60,712 $72,005 $83,664 $95,701 RDA (2) (AVAILABLE AFTER 2025) $0 $8,181 $16,622 $25,331 $34,319 $43,593 $53,163 $63,038 $73,229 $83,745 NON-RDA (AVAILABLE AFTER 2025) $0 $1,152 $2,344 $3,578 $4,856 $6,179 $7,549 $8,967 $10,436 $11,956 LESS: COUNTY / PFA ADMIN FEES (AFTER 2033) (3) 2033 $0 $0 $0 $0 $0 $0 $0 $0 $0 ($25,964)------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ TOTAL TI REVENUE TO EIFD (3) $0 $47,000 $95,516 $145,599 $197,298 $250,669 $305,764 $362,642 $421,361 $481,981 RDA $0 $41,200 $83,712 $127,578 $172,842 $219,549 $267,746 $317,481 $368,804 $421,767 NON-RDA $0 $5,800 $11,804 $18,021 $24,456 $31,120 $38,018 $45,161 $52,557 $60,215 NET TI REVENUE TO EIFD (LESS ADMIN FEE) (3) $0 $47,000 $95,516 $145,599 $197,298 $250,669 $305,764 $362,642 $421,361 $456,017 AVAILABLE TO SUPPORT BONDED INDEBTEDNESS (4) $0 $37,668 $76,551 $116,689 $158,123 $200,897 $245,053 $290,637 $337,697 $360,317 (1) Pledged to prior City Successor Agency bond issues until 2033. (2) Assumes City VLF revenues are not committed to the City Successor Agency. (3) Assumes bonds would be issued after 2033 once City Successor Agency bonds are paid off. Any available revenue not pledged to the Successor Agency are assumed to be pay-as-you-go revenues.

Analysis also assumes that County/PFA administration charge would commence after the first EIFD bond issue.
(4) Assumes that Property Tax In-Lieu of VLF is received as pay-as-you-go.

VII. EIFD DEBT SERVICE
NEW BONDED INDEBTEDNESS $0 $0 $0 $0 $0 $0 $0 $0 $0 $4,430,000 NEW RESERVE FUND $0 $0 $0 $0 $0 $0 $0 $0 $0 $216,450
MATURED BONDED INDEBTEDNESS $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 RELEASED RESERVE FUND $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
TOTAL ANNUAL PAYMENT - SERIES A $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 TOTAL ANNUAL PAYMENT - SERIES B $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 TOTAL ANNUAL PAYMENT - SERIES C $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 TOTAL ANNUAL PAYMENT - SERIES D $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 TOTAL ANNUAL PAYMENT - SERIES E $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 TOTAL ANNUAL PAYMENT - SERIES F $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 TOTAL ANNUAL PAYMENT - SERIES G $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 ------------------------------------------------------------------------------------------------------ --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- TOTAL ANNUAL DEBT SERVICE $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 RESERVE FUND CREDIT $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
CAPITALIZED INTEREST $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
PAY-AS-YOU-GO FACILITIES $0 $47,000 $95,516 $145,599 $197,298 $250,669 $305,764 $362,642 $421,361 $456,017 ------------------------------------------------------------------------------------------------------ --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- NET ANNUAL DEBT SERVICE $0 $47,000 $95,516 $145,599 $197,298 $250,669 $305,764 $362,642 $421,361 $456,017 VIII. DEBT SERVICE COVERAGE

GROSS DEBT SERVICE COVERAGE NA NA NA NA NA NA NA NA NA NA

50.00%

25.00%

50.00%
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FISCAL YEAR - COLLECTION OF TAXES/ASSESSMENTS

CALENDAR YEAR - PAYMENTS TO BOND HOLDERS
I. CFD BONDED INDEBTEDNESS

ISSUANCE DATE

BOND TERM

TOTAL BONDED INDEBTEDNESS
LESS: COSTS OF ISSUANCE / DISCOUNT
LESS: RESERVE REQUIREMENT
LESS: CAPITALIZED INTEREST---------------------------------------------------------------------------------------

TOTAL BOND FINANCED FACILITIES
II. ABSORPTION - OPENING (as of 1/1)

LAND USE CATEGORIES
CLASS 1 RESIDENTIAL - RDA
CLASS 2 NON-RESIDENTIAL - RDA
CLASS 3 RESIDENTIAL - NON-RDA
CLASS 4 NON-RESIDENTIAL - NON-RDA
III. AVERAGE VALUATION

PER ACRE
CLASS 1 RESIDENTIAL - RDA
CLASS 2 NON-RESIDENTIAL - RDA
CLASS 3 RESIDENTIAL - NON-RDA
CLASS 4 NON-RESIDENTIAL - NON-RDA
IV. ASSESSED VALUATION

LAND USES VALUATION
CLASS 1 RESIDENTIAL - RDA
CLASS 2 NON-RESIDENTIAL - RDA
CLASS 3 RESIDENTIAL - NON-RDA
CLASS 4 NON-RESIDENTIAL - NON-RDA
---------------------------------------------------------------------------------------

GROSS ASSESSED VALUE
LESS : ESTIMATED BASE YEAR VALUE (RDA)
LESS : ESTIMATED BASE YEAR VALUE (NON-RDA)
---------------------------------------------------------------------------------------

INCREMENTAL PROPERTY VALUE

INCREMENTAL PROPERTY VALUE - RDA

INCREMENTAL PROPERTY VALUE - NON-RDA
V. TAX INCREMENT REVENUE

COUNTY SECURED PROPERTY TAX INCREMENT
RDA

NON-RDA

CITY SECURED PROPERTY TAX INCREMENT
RDA

NON-RDA

CITY PROPERTY TAX IN-LIEU OF VLF
RDA

NON-RDA
--------------------------------------------------------------------------------------- GROSS TAX INCREMENT ("TI")
RDA

NON-RDA

19.83%

11.99%

5.43%
0 0 0 0 1 0 0 0 0 1
2034-35 2035-36 2036-37 2037-38 2038-39 2039-40 2040-41 2041-42 2042-43 2043-44 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044
*Sep 2039* *Sep 2044*
30 25
$0 $0 $0 $0 $3,280,000 $0 $0 $0 $0 $3,530,000
$0 $0 $0 $0 ($199,200) $0 $0 $0 $0 ($202,950)
$0 $0 $0 $0 ($213,369) $0 $0 $0 $0 ($250,462)
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0--------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- $0 $0 $0 $0 $2,867,431 $0 $0 $0 $0 $3,076,588

34.41 34.41 34.41 34.41 34.41 34.41 34.41 34.41 34.41 34.41 206.41 206.41 206.41 206.41 206.41 206.41 206.41 206.41 206.41 206.41

35.21 35.21 35.21 35.21 35.21 35.21 35.21 35.21 35.21 35.21

32.73 32.73 32.73 32.73 32.73 32.73 32.73 32.73 32.73 32.73 $5,965,542 $6,204,163 $6,452,330 $6,710,423 $6,978,840 $7,257,993 $7,548,313 $7,850,246 $8,164,256 $8,490,826 $5,340,555 $5,500,772 $5,665,795 $5,835,769 $6,010,842 $6,191,167 $6,376,902 $6,568,209 $6,765,256 $6,968,213 $2,346,684 $2,440,552 $2,538,174 $2,639,701 $2,745,289 $2,855,100 $2,969,304 $3,088,076 $3,211,599 $3,340,063 $2,753,917 $2,836,534 $2,921,630 $3,009,279 $3,099,558 $3,192,544 $3,288,321 $3,386,970 $3,488,579 $3,593,237 $205,244,457 $213,454,235 $221,992,405 $230,872,101 $240,106,985 $249,711,264 $259,699,715 $270,087,703 $280,891,212 $292,126,860 $1,102,349,368 $1,135,419,849 $1,169,482,445 $1,204,566,918 $1,240,703,926 $1,277,925,043 $1,316,262,795 $1,355,750,679 $1,396,423,199 $1,438,315,895 $82,633,789 $85,939,141 $89,376,706 $92,951,774 $96,669,845 $100,536,639 $104,558,105 $108,740,429 $113,090,046 $117,613,648 $90,127,432 $92,831,255 $95,616,193 $98,484,679 $101,439,219 $104,482,396 $107,616,868 $110,845,374 $114,170,735 $117,595,857 --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- $1,480,355,047 $1,527,644,481 $1,576,467,749 $1,626,875,472 $1,678,919,975 $1,732,655,343 $1,788,137,482 $1,845,424,185 $1,904,575,192 $1,965,652,260 ($958,907,258) ($958,907,258) ($958,907,258) ($958,907,258) ($958,907,258) ($958,907,258) ($958,907,258) ($958,907,258) ($958,907,258) ($958,907,258) ($122,887,701) ($122,887,701) ($122,887,701) ($122,887,701) ($122,887,701) ($122,887,701) ($122,887,701) ($122,887,701) ($122,887,701) ($122,887,701) --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- $398,560,088 $445,849,522 $494,672,790 $545,080,513 $597,125,016 $650,860,384 $706,342,523 $763,629,226 $822,780,233 $883,857,301 $348,686,567 $389,966,827 $432,567,591 $476,531,761 $521,903,653 $568,729,050 $617,055,252 $666,931,124 $718,407,153 $771,535,497 $49,873,520 $55,882,695 $62,105,198 $68,548,752 $75,221,364 $82,131,334 $89,287,271 $96,698,102 $104,373,080 $112,321,804 $790,353 $884,129 $980,946 $1,080,906 $1,184,111 $1,290,669 $1,400,691 $1,514,292 $1,631,590 $1,752,707 $691,452 $773,312 $857,790 $944,972 $1,034,945 $1,127,801 $1,223,633 $1,322,538 $1,424,616 $1,529,970 $98,900 $110,817 $123,156 $135,934 $149,165 $162,868 $177,058 $191,754 $206,974 $222,736 $477,700 $534,380 $592,898 $653,315 $715,694 $780,099 $846,598 $915,260 $986,156 $1,059,361 $417,924 $467,401 $518,461 $571,155 $625,536 $681,659 $739,581 $799,361 $861,058 $924,736 $59,777 $66,979 $74,437 $82,160 $90,158 $98,440 $107,017 $115,899 $125,098 $134,625 $216,254 $241,913 $268,404 $295,755 $323,994 $353,150 $383,254 $414,337 $446,432 $479,571 $189,194 $211,592 $234,706 $258,561 $283,179 $308,586 $334,807 $361,870 $389,800 $418,627 $27,061 $30,321 $33,698 $37,194 $40,814 $44,564 $48,446 $52,467 $56,632 $60,945 --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- $1,484,307 $1,660,422 $1,842,248 $2,029,975 $2,223,798 $2,423,918 $2,630,543 $2,843,889 $3,064,177 $3,291,639 $1,298,570 $1,452,305 $1,610,957 $1,774,688 $1,943,660 $2,118,046 $2,298,022 $2,483,768 $2,675,474 $2,873,333 $185,738 $208,117 $231,291 $255,288 $280,138 $305,871 $332,521 $360,121 $388,704 $418,306 DTA, Inc. Draft - Unaudited Page 5
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FISCAL YEAR - COLLECTION OF TAXES/ASSESSMENTS

CALENDAR YEAR - PAYMENTS TO BOND HOLDERS
VI. TI REVENUE TO EIFD

COUNTY TAX INCREMENT
RDA (1) (AVAILABLE AFTER 2033)
NON-RDA (AVAILABLE AFTER 2025)

CITY TAX INCREMENT (SECURED)
RDA (1) (AVAILABLE AFTER 2033)
NON-RDA (AVAILABLE AFTER 2025)

CITY TAX INCREMENT (VLF)
RDA (2) (AVAILABLE AFTER 2025)
NON-RDA (AVAILABLE AFTER 2025)
LESS: COUNTY / PFA ADMIN FEES (AFTER 2033) (3) 2033------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ TOTAL TI REVENUE TO EIFD (3)
RDA

NON-RDA
NET TI REVENUE TO EIFD (LESS ADMIN FEE) (3)
AVAILABLE TO SUPPORT BONDED INDEBTEDNESS (4)
(1) Pledged to prior City Successor Agency bond issues until 2033. (2) Assumes City VLF revenues are not committed to the City Successor Agency. (3) Assumes bonds would be issued after 2033 once City Successor Agency bonds are paid off. Any available revenue not pledged to the Successor Agency are assumed to be pay-as-you-go revenues.

Analysis also assumes that County/PFA administration charge would commence after the first EIFD bond issue.
(4) Assumes that Property Tax In-Lieu of VLF is received as pay-as-you-go.

VII. EIFD DEBT SERVICE

NEW BONDED INDEBTEDNESS

NEW RESERVE FUND

MATURED BONDED INDEBTEDNESS

RELEASED RESERVE FUND

TOTAL ANNUAL PAYMENT - SERIES A

TOTAL ANNUAL PAYMENT - SERIES B

TOTAL ANNUAL PAYMENT - SERIES C

TOTAL ANNUAL PAYMENT - SERIES D

TOTAL ANNUAL PAYMENT - SERIES E

TOTAL ANNUAL PAYMENT - SERIES F

TOTAL ANNUAL PAYMENT - SERIES G
---------------------------------------------------------------------------------------

TOTAL ANNUAL DEBT SERVICE

RESERVE FUND CREDIT

CAPITALIZED INTEREST

PAY-AS-YOU-GO FACILITIES
---------------------------------------------------------------------------------------

NET ANNUAL DEBT SERVICE
VIII. DEBT SERVICE COVERAGE

GROSS DEBT SERVICE COVERAGE

50.00%

25.00%

50.00%
0 0 0 0 1 0 0 0 0 1
2034-35 2035-36 2036-37 2037-38 2038-39 2039-40 2040-41 2041-42 2042-43 2043-44 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044
$197,588 $221,032 $245,237 $270,226 $296,028 $322,667 $350,173 $378,573 $407,897 $438,177 $172,863 $193,328 $214,448 $236,243 $258,736 $281,950 $305,908 $330,634 $356,154 $382,493 $24,725 $27,704 $30,789 $33,983 $37,291 $40,717 $44,265 $47,939 $51,743 $55,684 $238,850 $267,190 $296,449 $326,657 $357,847 $390,049 $423,299 $457,630 $493,078 $529,681 $208,962 $233,700 $259,230 $285,577 $312,768 $340,830 $369,791 $399,680 $430,529 $462,368 $29,888 $33,490 $37,219 $41,080 $45,079 $49,220 $53,508 $57,950 $62,549 $67,313 $108,127 $120,957 $134,202 $147,877 $161,997 $176,575 $191,627 $207,168 $223,216 $239,786 $94,597 $105,796 $117,353 $129,280 $141,590 $154,293 $167,404 $180,935 $194,900 $209,313 $13,530 $15,161 $16,849 $18,597 $20,407 $22,282 $24,223 $26,234 $28,316 $30,472 ($26,089) ($26,218) ($26,352) ($26,490) ($26,632) ($26,779) ($26,930) ($27,087) ($27,248) ($27,415)------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ $544,566 $609,179 $675,887 $744,761 $815,871 $889,292 $965,099 $1,043,371 $1,124,191 $1,207,643 $476,422 $532,824 $591,031 $651,101 $713,094 $777,073 $843,103 $911,250 $981,583 $1,054,174 $68,144 $76,354 $84,856 $93,660 $102,777 $112,219 $121,996 $132,122 $142,608 $153,469 $518,476 $582,960 $649,536 $718,272 $789,240 $862,513 $938,169 $1,016,285 $1,096,943 $1,180,228 $410,349 $462,004 $515,334 $570,394 $627,243 $685,938 $746,542 $809,116 $873,727 $940,442 $0 $0 $0 $0 $3,280,000 $0 $0 $0 $0 $3,530,000
$0 $0 $0 $0 $199,200 $0 $0 $0 $0 $202,950
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$288,178 $288,178 $288,178 $288,178 $288,178 $288,178 $288,178 $288,178 $288,178 $288,178 $0 $0 $0 $0 $0 $213,369 $213,369 $213,369 $213,369 $213,369 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
--------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- $288,178 $288,178 $288,178 $288,178 $288,178 $501,547 $501,547 $501,547 $501,547 $501,547 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$230,299 $294,782 $361,358 $430,094 $501,062 $360,967 $436,622 $514,738 $595,396 $678,681 --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- $518,476 $582,960 $649,536 $718,272 $789,240 $862,513 $938,169 $1,016,285 $1,096,943 $1,180,228 179.92% 202.29% 225.39% 249.25% 273.87% 171.97% 187.06% 202.63% 218.71% 235.32% DTA, Inc. Draft - Unaudited Page 6
Draft V8

FISCAL YEAR - COLLECTION OF TAXES/ASSESSMENTS

CALENDAR YEAR - PAYMENTS TO BOND HOLDERS
I. CFD BONDED INDEBTEDNESS

ISSUANCE DATE

BOND TERM

TOTAL BOND FINANCED FACILITIES
II. ABSORPTION - OPENING (as of 1/1)

LAND USE CATEGORIES
CLASS 1 RESIDENTIAL - RDA
CLASS 2 NON-RESIDENTIAL - RDA
CLASS 3 RESIDENTIAL - NON-RDA
CLASS 4 NON-RESIDENTIAL - NON-RDA
III. AVERAGE VALUATION

PER ACRE
CLASS 1 RESIDENTIAL - RDA
CLASS 2 NON-RESIDENTIAL - RDA
CLASS 3 RESIDENTIAL - NON-RDA
CLASS 4 NON-RESIDENTIAL - NON-RDA
IV. ASSESSED VALUATION

GROSS ASSESSED VALUE
LESS : ESTIMATED BASE YEAR VALUE (RDA)
LESS : ESTIMATED BASE YEAR VALUE (NON-RDA)
---------------------------------------------------------------------------------------

INCREMENTAL PROPERTY VALUE

INCREMENTAL PROPERTY VALUE - RDA

INCREMENTAL PROPERTY VALUE - NON-RDA
V. TAX INCREMENT REVENUE

COUNTY SECURED PROPERTY TAX INCREMENT
RDA

NON-RDA

CITY SECURED PROPERTY TAX INCREMENT
RDA

NON-RDA

CITY PROPERTY TAX IN-LIEU OF VLF
RDA

NON-RDA
--------------------------------------------------------------------------------------- GROSS TAX INCREMENT ("TI")
RDA

NON-RDA

19.83%

11.99%

5.43%
0 0 0 0 1 0 0 0 0 1
2044-45 2045-46 2046-47 2047-48 2048-49 2049-50 2050-51 2051-52 2052-53 2053-54 2045 2046 2047 2048 2049 2050 2051 2052 2053 2054
*Sep 2049* *Sep 2054*
20 15
$0 $0 $0 $0 $3,665,000 $0 $0 $0 $0 $3,585,000
$0 $0 $0 $0 ($204,975) $0 $0 $0 $0 ($203,775)
$0 $0 $0 $0 ($294,089) $0 $0 $0 $0 ($345,387)
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0--------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- $0 $0 $0 $0 $3,165,936 $0 $0 $0 $0 $3,035,838

34.41 34.41 34.41 34.41 34.41 34.41 34.41 34.41 34.41 34.41 206.41 206.41 206.41 206.41 206.41 206.41 206.41 206.41 206.41 206.41

35.21 35.21 35.21 35.21 35.21 35.21 35.21 35.21 35.21 35.21

32.73 32.73 32.73 32.73 32.73 32.73 32.73 32.73 32.73 32.73 $8,830,459 $9,183,677 $9,551,024 $9,933,065 $10,330,388 $10,743,603 $11,173,347 $11,620,281 $12,085,093 $12,568,496 $7,177,260 $7,392,578 $7,614,355 $7,842,786 $8,078,069 $8,320,411 $8,570,024 $8,827,124 $9,091,938 $9,364,696 $3,473,666 $3,612,612 $3,757,117 $3,907,402 $4,063,698 $4,226,246 $4,395,295 $4,571,107 $4,753,952 $4,944,110 $3,701,034 $3,812,065 $3,926,427 $4,044,220 $4,165,546 $4,290,513 $4,419,228 $4,551,805 $4,688,359 $4,829,010 $303,811,934 $315,964,412 $328,602,988 $341,747,108 $355,416,992 $369,633,672 $384,419,019 $399,795,780 $415,787,611 $432,419,115 $1,481,465,372 $1,525,909,333 $1,571,686,613 $1,618,837,211 $1,667,402,328 $1,717,424,397 $1,768,947,129 $1,822,015,543 $1,876,676,010 $1,932,976,290 $122,318,194 $127,210,922 $132,299,359 $137,591,333 $143,094,986 $148,818,786 $154,771,537 $160,962,399 $167,400,895 $174,096,930 $121,123,733 $124,757,445 $128,500,168 $132,355,173 $136,325,828 $140,415,603 $144,628,071 $148,966,913 $153,435,921 $158,038,998 --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- $2,028,719,233 $2,093,842,111 $2,161,089,128 $2,230,530,825 $2,302,240,134 $2,376,292,458 $2,452,765,756 $2,531,740,635 $2,613,300,435 $2,697,531,333 ($958,907,258) ($958,907,258) ($958,907,258) ($958,907,258) ($958,907,258) ($958,907,258) ($958,907,258) ($958,907,258) ($958,907,258) ($958,907,258) ($122,887,701) ($122,887,701) ($122,887,701) ($122,887,701) ($122,887,701) ($122,887,701) ($122,887,701) ($122,887,701) ($122,887,701) ($122,887,701) --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- $946,924,274 $1,012,047,152 $1,079,294,169 $1,148,735,866 $1,220,445,175 $1,294,497,499 $1,370,970,797 $1,449,945,676 $1,531,505,476 $1,615,736,374 $826,370,048 $882,966,487 $941,382,343 $1,001,677,061 $1,063,912,062 $1,128,150,811 $1,194,458,890 $1,262,904,065 $1,333,556,362 $1,406,488,147 $120,554,226 $129,080,665 $137,911,825 $147,058,805 $156,533,113 $166,346,688 $176,511,907 $187,041,611 $197,949,114 $209,248,228 $1,877,770 $2,006,910 $2,140,262 $2,277,966 $2,420,167 $2,567,014 $2,718,663 $2,875,271 $3,037,006 $3,204,038 $1,638,708 $1,750,940 $1,866,780 $1,986,346 $2,109,759 $2,237,146 $2,368,636 $2,504,364 $2,644,469 $2,789,094 $239,061 $255,970 $273,482 $291,621 $310,408 $329,869 $350,027 $370,907 $392,537 $414,943 $1,134,951 $1,213,005 $1,293,605 $1,376,836 $1,462,784 $1,551,540 $1,643,199 $1,737,855 $1,835,610 $1,936,566 $990,459 $1,058,293 $1,128,309 $1,200,576 $1,275,169 $1,352,163 $1,431,638 $1,513,674 $1,598,355 $1,685,769 $144,492 $154,712 $165,296 $176,260 $187,615 $199,377 $211,561 $224,182 $237,255 $250,798 $513,791 $549,126 $585,613 $623,292 $662,200 $702,380 $743,874 $786,725 $830,978 $876,681 $448,379 $479,088 $510,784 $543,499 $577,267 $612,122 $648,100 $685,238 $723,573 $763,145 $65,411 $70,038 $74,829 $79,793 $84,933 $90,258 $95,773 $101,487 $107,405 $113,536 --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- $3,526,512 $3,769,041 $4,019,480 $4,278,093 $4,545,151 $4,820,935 $5,105,735 $5,399,851 $5,703,594 $6,017,285 $3,077,547 $3,288,322 $3,505,872 $3,730,421 $3,962,195 $4,201,431 $4,448,374 $4,703,276 $4,966,397 $5,238,008 $448,965 $480,719 $513,608 $547,673 $582,957 $619,504 $657,361 $696,576 $737,197 $779,277 DTA, Inc. Draft - Unaudited Page 7
Draft V8

FISCAL YEAR - COLLECTION OF TAXES/ASSESSMENTS

CALENDAR YEAR - PAYMENTS TO BOND HOLDERS
VI. TI REVENUE TO EIFD

COUNTY TAX INCREMENT
RDA (1) (AVAILABLE AFTER 2033)
NON-RDA (AVAILABLE AFTER 2025)

CITY TAX INCREMENT (SECURED)
RDA (1) (AVAILABLE AFTER 2033)
NON-RDA (AVAILABLE AFTER 2025)

Analysis also assumes that County/PFA administration charge would commence after the first EIFD bond issue.
(4) Assumes that Property Tax In-Lieu of VLF is received as pay-as-you-go.

VII. EIFD DEBT SERVICE

NEW BONDED INDEBTEDNESS

NEW RESERVE FUND

MATURED BONDED INDEBTEDNESS

RELEASED RESERVE FUND

TOTAL ANNUAL PAYMENT - SERIES A

TOTAL ANNUAL PAYMENT - SERIES B

TOTAL ANNUAL PAYMENT - SERIES C

TOTAL ANNUAL PAYMENT - SERIES D

TOTAL ANNUAL PAYMENT - SERIES E

TOTAL ANNUAL PAYMENT - SERIES F

TOTAL ANNUAL PAYMENT - SERIES G
---------------------------------------------------------------------------------------

TOTAL ANNUAL DEBT SERVICE

RESERVE FUND CREDIT

CAPITALIZED INTEREST

PAY-AS-YOU-GO FACILITIES
---------------------------------------------------------------------------------------

NET ANNUAL DEBT SERVICE
VIII. DEBT SERVICE COVERAGE

GROSS DEBT SERVICE COVERAGE

50.00%

25.00%

50.00%
0 0 0 0 1 0 0 0 0 1
2044-45 2045-46 2046-47 2047-48 2048-49 2049-50 2050-51 2051-52 2052-53 2053-54 2045 2046 2047 2048 2049 2050 2051 2052 2053 2054
$469,442 $501,727 $535,065 $569,492 $605,042 $641,754 $679,666 $718,818 $759,251 $801,009 $409,677 $437,735 $466,695 $496,586 $527,440 $559,286 $592,159 $626,091 $661,117 $697,274 $59,765 $63,992 $68,370 $72,905 $77,602 $82,467 $87,507 $92,727 $98,134 $103,736 $567,476 $606,503 $646,803 $688,418 $731,392 $775,770 $821,599 $868,928 $917,805 $968,283 $495,229 $529,147 $564,154 $600,288 $637,584 $676,081 $715,819 $756,837 $799,178 $842,884 $72,246 $77,356 $82,648 $88,130 $93,808 $99,689 $105,781 $112,091 $118,628 $125,399 $256,895 $274,563 $292,807 $311,646 $331,100 $351,190 $371,937 $393,362 $415,489 $438,340 $224,190 $239,544 $255,392 $271,750 $288,634 $306,061 $324,050 $342,619 $361,787 $381,573 $32,706 $35,019 $37,415 $39,896 $42,467 $45,129 $47,887 $50,743 $53,703 $56,768 ($27,588) ($27,766) ($27,949) ($28,139) ($28,335) ($28,537) ($28,746) ($28,962) ($29,185) ($29,415)------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ $1,293,813 $1,382,793 $1,474,675 $1,569,555 $1,667,534 $1,768,714 $1,873,202 $1,981,108 $2,092,546 $2,207,633 $1,129,096 $1,206,426 $1,286,241 $1,368,624 $1,453,658 $1,541,429 $1,632,028 $1,725,547 $1,822,081 $1,921,730 $164,717 $176,367 $188,433 $200,931 $213,876 $227,285 $241,174 $255,561 $270,464 $285,903 $1,266,226 $1,355,027 $1,446,725 $1,541,416 $1,639,199 $1,740,177 $1,844,455 $1,952,146 $2,063,361 $2,178,218 $1,009,330 $1,080,464 $1,153,919 $1,229,770 $1,308,099 $1,388,986 $1,472,519 $1,558,783 $1,647,871 $1,739,877 $0 $0 $0 $0 $3,665,000 $0 $0 $0 $0 $3,585,000
$0 $0 $0 $0 $204,975 $0 $0 $0 $0 $203,775
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$288,178 $288,178 $288,178 $288,178 $288,178 $288,178 $288,178 $288,178 $288,178 $288,178 $213,369 $213,369 $213,369 $213,369 $213,369 $213,369 $213,369 $213,369 $213,369 $213,369 $250,462 $250,462 $250,462 $250,462 $250,462 $250,462 $250,462 $250,462 $250,462 $250,462 $0 $0 $0 $0 $0 $294,089 $294,089 $294,089 $294,089 $294,089 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
--------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- $752,009 $752,009 $752,009 $752,009 $752,009 $1,046,098 $1,046,098 $1,046,098 $1,046,098 $1,046,098 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$514,217 $603,019 $694,717 $789,407 $887,190 $694,079 $798,358 $906,048 $1,017,263 $1,132,120 --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- $1,266,226 $1,355,027 $1,446,725 $1,541,416 $1,639,199 $1,740,177 $1,844,455 $1,952,146 $2,063,361 $2,178,218 168.38% 180.19% 192.38% 204.97% 217.98% 166.35% 176.32% 186.61% 197.24% 208.22% DTA, Inc. Draft - Unaudited Page 8
Draft V8

FISCAL YEAR - COLLECTION OF TAXES/ASSESSMENTS

CALENDAR YEAR - PAYMENTS TO BOND HOLDERS
I. CFD BONDED INDEBTEDNESS

ISSUANCE DATE

BOND TERM

TOTAL BOND FINANCED FACILITIES
II. ABSORPTION - OPENING (as of 1/1)

LAND USE CATEGORIES
CLASS 1 RESIDENTIAL - RDA
CLASS 2 NON-RESIDENTIAL - RDA
CLASS 3 RESIDENTIAL - NON-RDA
CLASS 4 NON-RESIDENTIAL - NON-RDA
III. AVERAGE VALUATION

PER ACRE
CLASS 1 RESIDENTIAL - RDA
CLASS 2 NON-RESIDENTIAL - RDA
CLASS 3 RESIDENTIAL - NON-RDA
CLASS 4 NON-RESIDENTIAL - NON-RDA
IV. ASSESSED VALUATION

GROSS ASSESSED VALUE
LESS : ESTIMATED BASE YEAR VALUE (RDA)
LESS : ESTIMATED BASE YEAR VALUE (NON-RDA)
---------------------------------------------------------------------------------------

INCREMENTAL PROPERTY VALUE

INCREMENTAL PROPERTY VALUE - RDA

INCREMENTAL PROPERTY VALUE - NON-RDA
V. TAX INCREMENT REVENUE

COUNTY SECURED PROPERTY TAX INCREMENT
RDA

NON-RDA

CITY SECURED PROPERTY TAX INCREMENT
RDA

NON-RDA

CITY PROPERTY TAX IN-LIEU OF VLF
RDA

NON-RDA
--------------------------------------------------------------------------------------- GROSS TAX INCREMENT ("TI")
RDA

NON-RDA

19.83%

11.99%

5.43%
0 0 0 0 1 0 0 0 0 1
2054-55 2055-56 2056-57 2057-58 2058-59 2059-60 2060-61 2061-62 2062-63 2063-64 2055 2056 2057 2058 2059 2060 2061 2062 2063 2064
*Sep 2059* *Sep 2064*
10 5
$0 $0 $0 $0 $3,135,000 $0 $0 $0 $0 $2,065,000
$0 $0 $0 $0 ($197,025) $0 $0 $0 $0 ($180,975)
$0 $0 $0 $0 ($313,500) $0 $0 $0 $0 ($206,500)
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0--------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- $0 $0 $0 $0 $2,624,475 $0 $0 $0 $0 $1,677,525

34.41 34.41 34.41 34.41 34.41 34.41 34.41 34.41 34.41 34.41 206.41 206.41 206.41 206.41 206.41 206.41 206.41 206.41 206.41 206.41

35.21 35.21 35.21 35.21 35.21 35.21 35.21 35.21 35.21 35.21

32.73 32.73 32.73 32.73 32.73 32.73 32.73 32.73 32.73 32.73 $13,071,236 $13,594,086 $14,137,849 $14,703,363 $15,291,497 $15,903,157 $16,539,284 $17,200,855 $17,888,889 $18,604,445 $9,645,637 $9,935,006 $10,233,056 $10,540,048 $10,856,249 $11,181,937 $11,517,395 $11,862,917 $12,218,804 $12,585,368 $5,141,874 $5,347,549 $5,561,451 $5,783,909 $6,015,265 $6,255,876 $6,506,111 $6,766,355 $7,037,010 $7,318,490 $4,973,880 $5,123,096 $5,276,789 $5,435,093 $5,598,146 $5,766,090 $5,939,073 $6,117,245 $6,300,762 $6,489,785 $449,715,880 $467,704,515 $486,412,695 $505,869,203 $526,103,971 $547,148,130 $569,034,056 $591,795,418 $615,467,234 $640,085,924 $1,990,965,579 $2,050,694,546 $2,112,215,382 $2,175,581,844 $2,240,849,299 $2,308,074,778 $2,377,317,021 $2,448,636,532 $2,522,095,628 $2,597,758,497 $181,060,808 $188,303,240 $195,835,369 $203,668,784 $211,815,536 $220,288,157 $229,099,683 $238,263,671 $247,794,217 $257,705,986 $162,780,168 $167,663,573 $172,693,480 $177,874,285 $183,210,513 $188,706,829 $194,368,034 $200,199,075 $206,205,047 $212,391,198 --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- $2,784,522,434 $2,874,365,874 $2,967,156,928 $3,062,994,116 $3,161,979,319 $3,264,217,894 $3,369,818,794 $3,478,894,695 $3,591,562,127 $3,707,941,605 ($958,907,258) ($958,907,258) ($958,907,258) ($958,907,258) ($958,907,258) ($958,907,258) ($958,907,258) ($958,907,258) ($958,907,258) ($958,907,258) ($122,887,701) ($122,887,701) ($122,887,701) ($122,887,701) ($122,887,701) ($122,887,701) ($122,887,701) ($122,887,701) ($122,887,701) ($122,887,701) --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- $1,702,727,475 $1,792,570,915 $1,885,361,969 $1,981,199,157 $2,080,184,360 $2,182,422,935 $2,288,023,835 $2,397,099,736 $2,509,767,168 $2,626,146,646 $1,481,774,200 $1,559,491,803 $1,639,720,820 $1,722,543,789 $1,808,046,012 $1,896,315,650 $1,987,443,819 $2,081,524,692 $2,178,655,604 $2,278,937,163 $220,953,275 $233,079,112 $245,641,149 $258,655,368 $272,138,348 $286,107,285 $300,580,016 $315,575,044 $331,111,563 $347,209,483 $3,376,543 $3,554,704 $3,738,710 $3,928,758 $4,125,047 $4,327,788 $4,537,197 $4,753,497 $4,976,918 $5,207,701 $2,938,388 $3,092,503 $3,251,599 $3,415,839 $3,585,391 $3,760,432 $3,941,141 $4,127,705 $4,320,318 $4,519,178 $438,155 $462,201 $487,111 $512,919 $539,656 $567,356 $596,056 $625,792 $656,601 $688,523 $2,040,831 $2,148,514 $2,259,730 $2,374,598 $2,493,238 $2,615,777 $2,742,347 $2,873,082 $3,008,121 $3,147,610 $1,776,004 $1,869,154 $1,965,313 $2,064,582 $2,167,062 $2,272,859 $2,382,082 $2,494,844 $2,611,262 $2,731,456 $264,827 $279,361 $294,417 $310,015 $326,176 $342,918 $360,265 $378,237 $396,859 $416,153 $923,881 $972,629 $1,022,977 $1,074,977 $1,128,685 $1,184,159 $1,241,457 $1,300,640 $1,361,772 $1,424,919 $803,995 $846,163 $889,695 $934,633 $981,026 $1,028,920 $1,078,365 $1,129,413 $1,182,115 $1,236,526 $119,887 $126,466 $133,282 $140,344 $147,659 $155,239 $163,091 $171,228 $179,658 $188,392 --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- $6,341,255 $6,675,848 $7,021,418 $7,378,332 $7,746,970 $8,127,725 $8,521,001 $8,927,219 $9,346,812 $9,780,229 $5,518,386 $5,807,820 $6,106,607 $6,415,054 $6,733,480 $7,062,211 $7,401,588 $7,751,962 $8,113,694 $8,487,161 $822,869 $868,027 $914,811 $963,278 $1,013,491 $1,065,514 $1,119,413 $1,175,257 $1,233,117 $1,293,069 DTA, Inc. Draft - Unaudited Page 9
Draft V8

FISCAL YEAR - COLLECTION OF TAXES/ASSESSMENTS

CALENDAR YEAR - PAYMENTS TO BOND HOLDERS
VI. TI REVENUE TO EIFD

COUNTY TAX INCREMENT
RDA (1) (AVAILABLE AFTER 2033)
NON-RDA (AVAILABLE AFTER 2025)

CITY TAX INCREMENT (SECURED)
RDA (1) (AVAILABLE AFTER 2033)
NON-RDA (AVAILABLE AFTER 2025)

Analysis also assumes that County/PFA administration charge would commence after the first EIFD bond issue.
(4) Assumes that Property Tax In-Lieu of VLF is received as pay-as-you-go.

VII. EIFD DEBT SERVICE

NEW BONDED INDEBTEDNESS

NEW RESERVE FUND

MATURED BONDED INDEBTEDNESS

RELEASED RESERVE FUND

TOTAL ANNUAL PAYMENT - SERIES A

TOTAL ANNUAL PAYMENT - SERIES B

TOTAL ANNUAL PAYMENT - SERIES C

TOTAL ANNUAL PAYMENT - SERIES D

TOTAL ANNUAL PAYMENT - SERIES E

TOTAL ANNUAL PAYMENT - SERIES F

TOTAL ANNUAL PAYMENT - SERIES G
---------------------------------------------------------------------------------------

TOTAL ANNUAL DEBT SERVICE

RESERVE FUND CREDIT

CAPITALIZED INTEREST

PAY-AS-YOU-GO FACILITIES
---------------------------------------------------------------------------------------

NET ANNUAL DEBT SERVICE
VIII. DEBT SERVICE COVERAGE

GROSS DEBT SERVICE COVERAGE

50.00%

25.00%

50.00%
0 0 0 0 1 0 0 0 0 1
2054-55 2055-56 2056-57 2057-58 2058-59 2059-60 2060-61 2061-62 2062-63 2063-64 2055 2056 2057 2058 2059 2060 2061 2062 2063 2064
$844,136 $888,676 $934,678 $982,189 $1,031,262 $1,081,947 $1,134,299 $1,188,374 $1,244,230 $1,301,925 $734,597 $773,126 $812,900 $853,960 $896,348 $940,108 $985,285 $1,031,926 $1,080,079 $1,129,794 $109,539 $115,550 $121,778 $128,230 $134,914 $141,839 $149,014 $156,448 $164,150 $172,131 $1,020,415 $1,074,257 $1,129,865 $1,187,299 $1,246,619 $1,307,889 $1,371,174 $1,436,541 $1,504,061 $1,573,805 $888,002 $934,577 $982,657 $1,032,291 $1,083,531 $1,136,430 $1,191,041 $1,247,422 $1,305,631 $1,365,728 $132,414 $139,680 $147,209 $155,008 $163,088 $171,459 $180,132 $189,119 $198,429 $208,077 $461,941 $486,315 $511,488 $537,489 $564,343 $592,079 $620,728 $650,320 $680,886 $712,459 $401,997 $423,082 $444,847 $467,317 $490,513 $514,460 $539,183 $564,706 $591,057 $618,263 $59,943 $63,233 $66,641 $70,172 $73,830 $77,619 $81,546 $85,614 $89,829 $94,196 ($29,653) ($29,898) ($30,152) ($30,414) ($30,684) ($30,964) ($31,252) ($31,550) ($31,858) ($32,176)------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ $2,326,492 $2,449,248 $2,576,031 $2,706,977 $2,842,223 $2,981,915 $3,126,201 $3,275,235 $3,429,176 $3,588,189 $2,024,596 $2,130,784 $2,240,404 $2,353,567 $2,470,392 $2,590,998 $2,715,509 $2,844,055 $2,976,768 $3,113,786 $301,896 $318,464 $335,627 $353,409 $371,831 $390,918 $410,692 $431,180 $452,408 $474,404 $2,296,839 $2,419,349 $2,545,879 $2,676,563 $2,811,539 $2,950,951 $3,094,949 $3,243,685 $3,397,318 $3,556,013 $1,834,898 $1,933,035 $2,034,391 $2,139,074 $2,247,196 $2,358,872 $2,474,220 $2,593,365 $2,716,432 $2,843,554 $0 $0 $0 $0 $3,135,000 $0 $0 $0 $0 $2,065,000
$0 $0 $0 $0 $197,025 $0 $0 $0 $0 $180,975
$0 $0 $0 $0 $0 $0 $0 $0 $0 ($4,430,000)
$0 $0 $0 $0 $0 $0 $0 $0 $0 ($216,450)
$288,178 $288,178 $288,178 $288,178 $288,178 $288,178 $288,178 $288,178 $288,178 $288,178 $213,369 $213,369 $213,369 $213,369 $213,369 $213,369 $213,369 $213,369 $213,369 $213,369 $250,462 $250,462 $250,462 $250,462 $250,462 $250,462 $250,462 $250,462 $250,462 $250,462 $294,089 $294,089 $294,089 $294,089 $294,089 $294,089 $294,089 $294,089 $294,089 $294,089 $345,387 $345,387 $345,387 $345,387 $345,387 $345,387 $345,387 $345,387 $345,387 $345,387 $0 $0 $0 $0 $0 $405,997 $405,997 $405,997 $405,997 $405,997 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
--------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- $1,391,485 $1,391,485 $1,391,485 $1,391,485 $1,391,485 $1,797,482 $1,797,482 $1,797,482 $1,797,482 $1,797,482 $0 $0 $0 $0 $0 $0 $0 $0 $0 ($216,450)
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$905,354 $1,027,864 $1,154,394 $1,285,078 $1,420,054 $1,153,470 $1,297,467 $1,446,203 $1,599,836 $1,974,981 --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- $2,296,839 $2,419,349 $2,545,879 $2,676,563 $2,811,539 $2,950,951 $3,094,949 $3,243,685 $3,397,318 $3,556,013 165.06% 173.87% 182.96% 192.35% 202.05% 164.17% 172.18% 180.46% 189.00% 197.83% DTA, Inc. Draft - Unaudited Page 10
Draft V8

FISCAL YEAR - COLLECTION OF TAXES/ASSESSMENTS

CALENDAR YEAR - PAYMENTS TO BOND HOLDERS
I. CFD BONDED INDEBTEDNESS

ISSUANCE DATE

BOND TERM

TOTAL BOND FINANCED FACILITIES
II. ABSORPTION - OPENING (as of 1/1)

LAND USE CATEGORIES
CLASS 1 RESIDENTIAL - RDA
CLASS 2 NON-RESIDENTIAL - RDA
CLASS 3 RESIDENTIAL - NON-RDA
CLASS 4 NON-RESIDENTIAL - NON-RDA
III. AVERAGE VALUATION

PER ACRE
CLASS 1 RESIDENTIAL - RDA
CLASS 2 NON-RESIDENTIAL - RDA
CLASS 3 RESIDENTIAL - NON-RDA
CLASS 4 NON-RESIDENTIAL - NON-RDA
IV. ASSESSED VALUATION

GROSS ASSESSED VALUE
LESS : ESTIMATED BASE YEAR VALUE (RDA)
LESS : ESTIMATED BASE YEAR VALUE (NON-RDA)
---------------------------------------------------------------------------------------

INCREMENTAL PROPERTY VALUE

INCREMENTAL PROPERTY VALUE - RDA

INCREMENTAL PROPERTY VALUE - NON-RDA
V. TAX INCREMENT REVENUE

COUNTY SECURED PROPERTY TAX INCREMENT
RDA

NON-RDA

CITY SECURED PROPERTY TAX INCREMENT
RDA

NON-RDA

CITY PROPERTY TAX IN-LIEU OF VLF
RDA

NON-RDA
--------------------------------------------------------------------------------------- GROSS TAX INCREMENT ("TI")
RDA

NON-RDA

19.83%

11.99%

5.43%
0 0 0 0 0 1 0
2064-65 2065-66 2066-67 2067-68 2068-69 2069-70 2070-71 TOTAL 2065 2066 2067 2068 2069 2070 2071
*Sep 2070*
0 $0 $0 $0 $0 $0 $0 $0 $23,690,000
$0 $0 $0 $0 $0 $0 $0 ($1,405,350)
$0 $0 $0 $0 $0 $0 $0 ($1,911,485)
$0 $0 $0 $0 $0 $0 $0 $0--------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- $0 $0 $0 $0 $0 $0 $0 $20,373,165

34.41 34.41 34.41 34.41 34.41 34.41 34.41 NA
206.41 206.41 206.41 206.41 206.41 206.41 206.41 NA

35.21 35.21 35.21 35.21 35.21 35.21 35.21 NA

32.73 32.73 32.73 32.73 32.73 32.73 32.73 NA
$19,348,623 $20,122,568 $20,927,470 $21,764,569 $22,635,152 $23,540,558 $24,482,180 $535,784,031 $12,962,930 $13,351,817 $13,752,372 $14,164,943 $14,589,891 $15,027,588 $15,478,416 $398,963,118 $7,611,230 $7,915,679 $8,232,306 $8,561,598 $8,904,062 $9,260,225 $9,630,633 $210,763,077 $6,684,479 $6,885,013 $7,091,563 $7,304,310 $7,523,440 $7,749,143 $7,981,617 $205,729,766 $665,689,361 $692,316,935 $720,009,613 $748,809,997 $778,762,397 $809,912,893 $842,309,409 NA $2,675,691,252 $2,755,961,989 $2,838,640,849 $2,923,800,074 $3,011,514,077 $3,101,859,499 $3,194,915,284 NA $268,014,226 $278,734,795 $289,884,186 $301,479,554 $313,538,736 $326,080,285 $339,123,497 NA $218,762,934 $225,325,822 $232,085,597 $239,048,165 $246,219,610 $253,606,198 $261,214,384 NA --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- $3,828,157,772 $3,952,339,541 $4,080,620,245 $4,213,137,790 $4,350,034,819 $4,491,458,875 $4,637,562,573 N/A ($958,907,258) ($958,907,258) ($958,907,258) ($958,907,258) ($958,907,258) ($958,907,258) ($958,907,258) ($122,887,701) ($122,887,701) ($122,887,701) ($122,887,701) ($122,887,701) ($122,887,701) ($122,887,701) NA --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- $2,746,362,813 $2,870,544,582 $2,998,825,286 $3,131,342,831 $3,268,239,860 $3,409,663,916 $3,555,767,614 $64,094,181,000 $2,382,473,354 $2,489,371,666 $2,599,743,204 $2,713,702,813 $2,831,369,216 $2,952,865,134 $3,078,317,434 $55,715,384,652 $363,889,459 $381,172,916 $399,082,082 $417,640,018 $436,870,645 $456,798,783 $477,450,180 $8,378,796,348 $5,446,092 $5,692,347 $5,946,731 $6,209,515 $6,480,985 $6,761,432 $7,051,158 $127,100,043 $4,724,492 $4,936,474 $5,155,343 $5,381,327 $5,614,662 $5,855,591 $6,104,365 $110,484,722 $721,600 $755,874 $791,388 $828,189 $866,323 $905,841 $946,793 $16,615,321 $3,291,697 $3,440,537 $3,594,289 $3,753,120 $3,917,201 $4,086,707 $4,261,821 $76,821,093 $2,855,551 $2,983,676 $3,115,963 $3,252,551 $3,393,582 $3,539,203 $3,689,566 $66,778,554 $436,145 $456,861 $478,326 $500,569 $523,618 $547,503 $572,255 $10,042,539 $1,490,147 $1,557,526 $1,627,130 $1,699,032 $1,773,311 $1,850,046 $1,929,321 $34,776,804 $1,292,704 $1,350,706 $1,410,592 $1,472,426 $1,536,270 $1,602,192 $1,670,261 $30,230,560 $197,442 $206,820 $216,538 $226,607 $237,041 $247,854 $259,059 $4,546,244 --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- $10,227,935 $10,690,410 $11,168,150 $11,661,668 $12,171,497 $12,698,185 $13,242,300 $238,697,939 $8,872,747 $9,270,855 $9,681,898 $10,106,304 $10,544,514 $10,996,986 $11,464,192 $207,493,836 $1,355,188 $1,419,555 $1,486,251 $1,555,364 $1,626,983 $1,701,199 $1,778,108 $31,204,103 DTA, Inc. Draft - Unaudited Page 11
Draft V8

FISCAL YEAR - COLLECTION OF TAXES/ASSESSMENTS

CALENDAR YEAR - PAYMENTS TO BOND HOLDERS
VI. TI REVENUE TO EIFD

COUNTY TAX INCREMENT
RDA (1) (AVAILABLE AFTER 2033)
NON-RDA (AVAILABLE AFTER 2025)

CITY TAX INCREMENT (SECURED)
RDA (1) (AVAILABLE AFTER 2033)
NON-RDA (AVAILABLE AFTER 2025)

Analysis also assumes that County/PFA administration charge would commence after the first EIFD bond issue.
(4) Assumes that Property Tax In-Lieu of VLF is received as pay-as-you-go.

VII. EIFD DEBT SERVICE

NEW BONDED INDEBTEDNESS

NEW RESERVE FUND

MATURED BONDED INDEBTEDNESS

RELEASED RESERVE FUND

TOTAL ANNUAL PAYMENT - SERIES A

TOTAL ANNUAL PAYMENT - SERIES B

TOTAL ANNUAL PAYMENT - SERIES C

TOTAL ANNUAL PAYMENT - SERIES D

TOTAL ANNUAL PAYMENT - SERIES E

TOTAL ANNUAL PAYMENT - SERIES F

TOTAL ANNUAL PAYMENT - SERIES G
---------------------------------------------------------------------------------------

TOTAL ANNUAL DEBT SERVICE

RESERVE FUND CREDIT

CAPITALIZED INTEREST

PAY-AS-YOU-GO FACILITIES
---------------------------------------------------------------------------------------

NET ANNUAL DEBT SERVICE
VIII. DEBT SERVICE COVERAGE

GROSS DEBT SERVICE COVERAGE

50.00%

25.00%

50.00%
0 0 0 0 0 1 0
2064-65 2065-66 2066-67 2067-68 2068-69 2069-70 2070-71 TOTAL 2065 2066 2067 2068 2069 2070 2071
$1,361,523 $1,423,087 $1,486,683 $1,552,379 $1,620,246 $1,690,358 $0 $30,012,221 $1,181,123 $1,234,118 $1,288,836 $1,345,332 $1,403,665 $1,463,898 $0 $26,095,089 $180,400 $188,968 $197,847 $207,047 $216,581 $226,460 $0 $3,917,132 $1,645,848 $1,720,268 $1,797,145 $1,876,560 $1,958,600 $2,043,353 $0 $36,279,636 $1,427,776 $1,491,838 $1,557,982 $1,626,276 $1,696,791 $1,769,602 $0 $31,544,494 $218,073 $228,430 $239,163 $250,285 $261,809 $273,752 $0 $4,735,142 $745,073 $778,763 $813,565 $849,516 $886,656 $925,023 $0 $16,423,741 $646,352 $675,353 $705,296 $736,213 $768,135 $801,096 $0 $14,280,149 $98,721 $103,410 $108,269 $113,303 $118,521 $123,927 $0 $2,143,592 ($32,505) ($32,844) ($33,195) ($33,557) ($33,931) ($34,317) $0 ($1,086,779)------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ $3,752,445 $3,922,118 $4,097,392 $4,278,455 $4,465,502 $4,658,734 $0 $82,715,598 $3,255,251 $3,401,309 $3,552,113 $3,707,820 $3,868,592 $4,034,595 $0 $71,919,733 $497,194 $520,809 $545,279 $570,635 $596,911 $624,139 $0 $10,795,866 $3,719,940 $3,889,274 $4,064,197 $4,244,898 $4,431,571 $4,624,417 $0 $81,628,819 $2,974,866 $3,110,511 $3,250,633 $3,395,382 $3,544,916 $3,699,394 $0 $65,205,077 $0 $0 $0 $0 $0 $0 $0 $23,690,000
$0 $0 $0 $0 $0 $0 $0 $1,405,350
$0 $0 $0 $0 ($19,260,000) $0 $0 ($23,690,000)
$0 $0 $0 $0 ($1,188,900) $0 $0 ($1,405,350)
$0 $0 $0 $0 $0 $0 $0 $8,645,336
$213,369 $213,369 $213,369 $213,369 $213,369 $0 $0 $6,401,061 $250,462 $250,462 $250,462 $250,462 $250,462 $0 $0 $6,261,554 $294,089 $294,089 $294,089 $294,089 $294,089 $0 $0 $5,881,782 $345,387 $345,387 $345,387 $345,387 $345,387 $0 $0 $5,180,807 $405,997 $405,997 $405,997 $405,997 $405,997 $0 $0 $4,059,968 $476,963 $476,963 $476,963 $476,963 $476,963 $0 $0 $2,384,815 --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- $1,986,267 $1,986,267 $1,986,267 $1,986,267 $1,986,267 $0 $0 $38,815,323 $0 $0 $0 $0 ($1,188,900) $0 $0 ($1,405,350)
$0 $0 $0 $0 $0 $0 $0 $0
$1,733,673 $1,903,007 $2,077,931 $2,258,632 $3,634,204 $4,624,417 $0 $44,218,846 --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- $3,719,940 $3,889,274 $4,064,197 $4,244,898 $4,431,571 $4,624,417 $0 $81,628,819 187.28% 195.81% 204.61% 213.71% 223.11% NA NA

SUMMARY MEMORANDUM
January 22, 2025
To: Scott Wagner, Finance Department Deputy Directo r
From: David Taussig, Jerry Wen, and Leni Zarate, DTA
Subject: Fiscal Impact Analysis of Reflecting the Impacts of Santa Rosa Downtown Business Corridor Enhanced Infrastructure Financing District to the City of Santa Rosa General Fund

DTA has been engaged by the City of Santa Rosa (the “City”) to prepare a Fiscal Impact Analysis (“FIA”) for the City to fulfill the requirements of Government Code Section 53398.63 et seq. (the “EIFD Law”) related to the formation of the Santa Rosa Downtown Business Corridor Enhanced Infrastructure Financing District (the “EIFD” or the “District”). Specifically, the objective of this analysis is to evaluate the recurring fiscal impacts of the loss of a portion of City’s General Fund revenues generated by the Santa Rosa Downtown Business Corridor (the “SRDBC”) due to the apportionment of 50% of its future property tax increment to the proposed EIFD.

A Description of the SRDBC
The SRDBC encompasses approximately 308.017 gross acres, which are comprised of 917 parcels in the City of Santa Rosa. The EIFD itself consists of parcels generally located South of West College Avenue, West of Brookwood Drive, North of Maple Avenue and East of Wilson Street, as characterized by the Downtown Station Area Specific Plan.

The EIFD itself consists of developed parcels within the SRDBC, as well as undeveloped parcels that can potentially be developed for either residential or non-residential uses. As listed below in Table 1 and discussed in more detail in the following section of this FIA, the City anticipates that at the end of the EIFD term, the proposed EIFD will include residential uses with a total assessed valuation of $1,135,993,178 and non-residential uses with a total assessed valuation of $3,355,465,697. Current valuations of those land uses, as presented in 2025 dollars in Table 1, are derived using an assumed discount factor of two percent (2%) to compensate for the impacts of inflation that were inherently reflected in the escalations of the EIFD-wide assessed valuations utilized for the bonding capacity analysis included in the IFP. This discounting was necessary for this fiscal analysis because the costs of services were all stated in 2025 dollars and DTA needed to maintain consistency between the revenue and cost components of this analysis. As a result, the total projected residential dwelling unit (“DU”) and non-residential building square footage (“BSF”) valuations listed in Table 1 are estimated based on current valuation metrics.

2 City of Santa Rosa January 22, 2025
Fiscal Impact Report Reflecting the Impacts of SRDBC EIFD to City’s General Fund

Table 1: SRDBC Private Development Within Boundaries of EIFD Land Use
Total Valuation at
the End of the
EIFD Term
Current Valuation (202 5 $)
Total Res. DUs/
Non -Res. BSF Total Per Res. DU /
Non -Res. BSF
Projected Residential Uses $1,135,993,178 $475,300, 385 $200,000 2,377 Projected Non-Residential Uses $3,355,465,697 $1,403,929,326 $225 6,239,686 Grand Total $4,491,458,875 $1,879,229,711 N /A N /A B Analytic Methodology
Notably, only recurring City revenues and costs were evaluated in this analysis. Costs that are considered non-recurring, such as capital expenditures, are excluded because new development is generally required to construct its own new capital improvements, such as roads or parks, or to pay Development Impact Fees (“DIFs”) that enable the City or some other developer to construct these improvements. As these are “one-time” costs that will not recur, there is no expectation that new development will need to pay for these capital expenditures a second time. Similarly, revenues that are considered to be non-recurring, such as DIFs paid by developers, are also excluded from the model. In sum, the model reflects the estimated recurring annual fiscal deficit or surplus to the City’s General Fund that will result from the development of the EIFD.

The FIA utilizes two specific methods of analysis; the Per Capita/Multiplier Approach and the Case Study Approach. The primary Multiplier Methodology used is the Per Capita/Persons Served Methodology, which recognizes the fact that the exact relationship of service demands and revenue generating potential between residents and employees is difficult to quantify. The “Persons Served” population for this FIA is assumed to be comprised of all residents plus 50% of the employees working in the City, which is a common fiscal assumption utilized in quantifying the impact of a new development on the need for services in a given service area. This standard is an outgrowth of the theoretical 8 hours per day than an employee works in a jurisdiction versus the 16 waking hours per day that a resident spends living within that jurisdiction.

The Per Capita/Multiplier Methodology involves calculating the average revenues/costs per Capita/Persons Served in the City utilizing the fiscal year (“FY”) 2024-2025 City Budget and applying these revenue/cost factors to the numbers of Persons Served that are anticipated to reside or work within the SRDBC. Consequently, the net General Fund expenditures determined through the FIA represent solely the revenues and expenditures that will be impacted by the additional Persons Served population resulting from the development of the SRDBC.

C Major Assumptions
DTA chose its analytical assumptions for its FIA in accordance with industry standards and documents those assumptions carefully. The following list explains how the major assumptions employed in the FIA were derived:

Discounting Revenues: Certain revenues are not expected to increase one-to-one with a new development. Thus, 15% and 90% discount rates have been applied to various General Fund revenues to reflect the estimated ratio of fixed revenues (not 3 City of Santa Rosa January 22, 2025
Fiscal Impact Report Reflecting the Impacts of SRDBC EIFD to City’s General Fund

impacted by future development) to variable revenue s, as reflected in Attachment 1-A . In addition, DTA conservatively applies a 100% discount on the intergovernmental revenues received by the City, given that the allotment of such revenues generally involves complex socioeconomic and demographic factors that are difficult to forecast. In addition, the marginal increase in the general government overhead costs associated with the additional non-general government expenditures incurred by new development is assumed to be 90%, which means a 10% discount was applied to these overhead costs, as listed in Attachment 1 -K.

Discounting Expenditures: Even though certain service costs are not expected to increase one-to-one with new development, DTA has conservatively assumed that no discount factors would be applied to General Fund expenditures.

Total Valuation at the End of the EIFD Term: The total valuation of residential land uses at the end of the 45-year EIFD term is estimated at $1.14 billion based on the current assessed valuation of $194.5 million and an assumed four percent (4%) annual increase due to the combined effect of new development, the sales of existing development, and the two percent (2%) annual valuation escalator authorized by Proposition 13 throughout the term of the EIFD. In contrast, DTA conservatively applied a three percent (3%) annual increase in estimating the total valuation of non-residential land uses at the end of the 45-year EIFD term. The rationale for assuming a slightly lower annual valuation escalator is that non-residential property has a lower turnover rate than residential property, in conjunction with the City’s projection that most of the new developments in SRDBC will be of residential land uses. The total valuation of non-residential land uses at the end of the 45-year EIFD term is estimated at $3.36 billion based on the current assessed valuation of $887.3 million and a three percent (3%) annual increase, resulting in the total valuation of $4.49 billion for the SRDBC.

Tax Sharing (Secured Property Taxes): Property tax revenue estimates for the City are based on apportionment factors provided by the County of Sonoma (the “County”) Auditor-Controller. Property tax revenues are projected based on the City’s estimated share of the general 1% property tax levy. Total secured property tax revenues received by the City from the proposed Projects will equal approximately 11.98% of the basic 1% (Proposition 13) property tax levy from the Tax Rate Areas (“TRAs”) encompassing the SRDBC. Please note that the gross tax increment, as calculated by the County Auditor-Controller, has been reduced to account for the projected Education Revenue Augmentation Fund (“ERAF”) property tax shifts.

Property Tax In Lieu of Vehicle License Fees (“VLFs”): The approval of Prop 1A in California in 2004 enacted a constitutional amendment that introduced a new methodology to calculate property taxes in lieu of VLFs. Pursuant to the California Revenue and Taxation Code §97.70, the property tax in lieu of VLF amount now grows in proportion to the growth rate of gross assessed valuation in a city or county.

Property taxes in lieu of VLF revenues are projected to grow with the change in the Citywide gross assessed valuation of taxable property from the prior FY. Property tax in lieu of VLF revenues constitutes an addition to other property tax apportionments and were calculated for the purposes of this FIA at $0.56 per $1,000 increase in assessed valuation on a Citywide basis.
4 City of Santa Rosa January 22, 2025
Fiscal Impact Report Reflecting the Impacts of SRDBC EIFD to City’s General Fund

Persons per Household: Pursuant to Report E-5 (Population and Housing Estimates for Cities, Counties, and the State, January 1, 2011-2024, with 2010 Benchmark) dated January 1, 2024, and published by Demographic Research Unit of the California Department of Finance, the estimated persons per household is 2.493 for the City as of January 1, 2024. Based on this assumption, the SRDBC is anticipated to comprise a total of 5,926 residents at the end of the EIFD term.

Direct Employees: DTA estimated the number of direct employees generated by the non-residential development in SRDBC based upon an average number of Square Feet per Employee (“SF/E”). Pursuant to the City data, the average SF/E within the Santa Rosa Downtown Station Area is estimated at 614 based on 8,432 jobs and 5,176,748 BSF of non-residential land use space. Based on this estimated SF/E, the non-residential development in SRDBC is anticipated to generate a total of 10,162 direct employees at the end of EIFD term.

Sales Tax: As discussed in more detail in the following section of this FIA, sales tax is the largest projected City General Fund revenue source attributable to SRDBC at the end of the EIFD term. As illustrated in Figure 1 below, the SRDBC historically generated a substantial portion of Citywide sales taxes, ranging from 15% to 8.6%.

Figure 1: City wide and SRDBC Historical Sales Taxes

Although the SRDBC’s share of Citywide sales taxes had been on a steady decline, it had started trending upward in the recent years as depicted in Figure 1. Based on the City’s estimate, the SRDBC is anticipated to continue this upward trend and generate approximately 12% of Citywide sales taxes at the end of the 45-year EIFD term. Based on the FY 2024-25 sales tax revenue of $75,866,735 anticipated for the City General Fund, SRDBC is anticipated to generate the total sales tax revenues of $9.1 million at the end of the EIFD term in 2025 dollars.

5 City of Santa Rosa January 22, 2025
Fiscal Impact Report Reflecting the Impacts of SRDBC EIFD to City’s General Fund

Public Safety Expenditures: As detailed in Attachment 1 -J , the City Police and Fire Departments estimated that SRDBC will incur approximately $4.72 and $7.79 million in police and fire protection service expenditures, respectively, at the end of the EIFD term in 2025 dollars.

D C ity General Fund – Net Fiscal Impact Summary
As reflected in Table 2 below, the positive net fiscal impact of SRDBC, given the approval of the EIFD, is estimated to be $955,316 at the end of EIFD term in 2025 dollars, based on $17,934,367 in fiscal revenues, $16,263,178 in fiscal costs, and the proposed EIFD property tax and in lieu VLF share equal to $715,873 (reflecting 50% of the net incremental secured property tax and VLF revenues of $1,431,746). It is assumed that the County will retain its 2% administration fees, totaling $19,114, from the $715,873 gross increments pledged to the EIFD. The County will remit the remaining amount to the EIFD.

Table 2: General Fund Net Fiscal Impact Conclusions for SRDBC at the End of EIFD Term Fiscal Impact Category Amount/Ratio
Gross Recurring General Fund Revenues $17,934,367
Less: EIFD property tax and In-Lieu VLF Share ($715,873) Net Recurring General Fund Revenues $17,218,494
Recurring General Fund Expenditures $16,263,178
Total Annual Recurring General Fund Surplus/(Deficit) $955,316 Total Annual Revenue/Expenditure Ratio 1. 0 6
A more detailed breakdown of the revenues and costs in 2025 dollars is listed in Table 3 below.
6 City of Santa Rosa January 22, 2025
Fiscal Impact Report Reflecting the Impacts of SRDBC EIFD to City’s General Fund

Table 3: General Fund Net Fiscal Impact Summary for SRDBC at the End of EIFD Term

In October 2015, the Successor Agency to the Redevelopment Agency of the City of Santa Rosa (the “Agency”) issued Series A and B of 2015 Tax Allocation Refunding Bonds (the “Agency Bonds”), which are set to mature in 2033. Approximately $3 million of City’s annual property tax increments, representing a portion of the former tax increment revenues generated from the Center/Grace Merged Project Area, the Southwest Project Area, the Gateways Project Area and the Transit-Oriented Redevelopment Project Area, are earmarked for repayments of the Agency Bonds. However, since the annual repayment of the Agency

7 City of Santa Rosa January 22, 2025
Fiscal Impact Report Reflecting the Impacts of SRDBC EIFD to City’s General Fund

Bonds is relatively small and secured by existing annual property tax increment, DTA deemed that the property tax and in-lieu VLF increments pledged to the proposed EIFD will have de minimis impact on City’s ability to repay the Agency Bonds.

As reflected in Figure 2 below, the largest projected City General Fund revenue sources attributable to SRDBC at the end of the EIFD term are sales taxes and property taxes (including property tax in lieu of VLFs). Sales taxes will generate 52.87% of the City's revenues from the Project, with property taxes and VLF adding an additional 16.39%. Conversely, the largest projected City General Fund expenditures will be for fire protection (47.88%), police (29.04%), and transportation and public works (8.55%), as depicted in Figure 3 below.

Figure 2: Recurring General Fund Revenues at the End of EIFD Term

Figure 3: Recurring General Fund Expenditures at the End of EIFD Term

If you have any further questions regarding this Executive Summary or the attached analysis, please feel free to contact us at (800) 969-4DTA.

Enclosures:

1. Attachment 1 – FIA for Santa Rosa Downtown Business Corridor EIFD

ATTACHMENT 1
City of Santa Rosa
Fiscal Impact Report Reflecting the Impacts of SRDBC EIFD to City’s General Fund

FIA FOR SANTA ROSA

DOWNTOWN BUSINESS

CORRIDOR EIFD
ATTACHMENT 1-A
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

CITY OF SANTA ROSA GENERAL FUND REVENUES (BY TYPE)
I Demographics and Other Data
2024 Estimated Population [1] 174,890
2024 Estimated Employees [2] 82,807
2024 Persons Served Population [3] 216,294
Notes:
[1] California Department of Finance, Housing and Population Information, January 1, 2024. [2] Environics Analytics, EmploymentProfiles by NAICS Codes 2023 for the City of Santa Rosa.

II Recurring City General Fund Revenue Sources (by Type) Total
Revenues
Revenue
Type
Fiscal Impact
Basis Discount
Fiscal Impact
Revenue
Factor
Tax Revenue Persons Served $0.00
Property Taxes $39,068,300 Recurring Case Study NA NA
Sales and Use Taxes $75,866,735 Recurring Case Study NA NA Measure Q $0 Recurring Case Study NA NA
Utility Users Tax $14,200,000 Recurring Case Study NA NA Property Transfer Taxes $4,000,000 Recurring Case Study NA NA Transient Occupancy Taxes $7,000,000 Recurring Case Study NA NA Business Licenses $4,750,000 Recurring Per Employee 15% $48.76 Franchise Fees $12,230,700 Recurring Persons Served 15% $48.06 Interest Income $600,000 Recurring Case Study NA NA
Charges for Current Services $26,279,400 Recurring Persons Served 15% $103.27 Licenses and Permits $3,181,000 Recurring Persons Served 15% $12.50 VLF/Property Tax Compensation $18,495,000 Recurring Case Study NA NA Fines, Forfeitures, and Penalties $1,610,900 Recurring Persons Served 15% $6.33 Intergovernmental $1,903,424 Recurring NA 100% NA
Cannabis Industry Tax $1,900,000 Recurring Persons Served 90% $0.88 Other / Miscellaneous $1,911,000 Recurring Persons Served 90% $0.88 $212,996,459 NA NA NA NA
Revenue Type
Total Recurring Revenues
[3] Assumes population plus 50% of employees.

ATTACHMENT 1-B
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

CITY OF SANTA ROSA GENERAL FUND EXPENDITURES (BY TYPE)
I Demographics and Other Data
2024 Estimated Population [1] 174,890
2024 Estimated Employees [2] 82,807
2024 Persons Served Population [3] 216,294
Notes:
[1] California Department of Finance, Housing and Population Information, January 1, 2024. [2] Environics Analytics, EmploymentProfiles by NAICS Codes 2023 for the City of Santa Rosa. [3] Assumes population plus 50% of employees.

II Recurring City General Fund Expenditures (by Type)
Expenditure Type Total
Expenditures
Expenditure
Type
Fiscal Impact
Basis Discount
Fiscal Impact
Expenditure
Factor
General Government
City Attorney $4,328,229 Recurring Case Study NA NA
City Council $1,557,693 Recurring Case Study NA NA
City Manager $3,390,185 Recurring Case Study NA NA
Communications & Intergovernmental Relations $1,999,064 Recurring Case Study NA NA Finance $7,703,289 Recurring Case Study NA NA
Human Resources $4,716,153 Recurring Case Study NA NA
Non-General Government
Housing & Community Services $161,000 Recurring Persons Served 0% $0.74 Fire $58,787,381 Recurring Case Study 0% NA
Planning & Economic Development $19,469,107 Recurring Persons Served 0% $90.01 Police $79,673,668 Recurring Case Study 0% NA
Recreation & Community Engagement $18,778,367 Recurring Persons Served 0% $86.82 Transportation & Public Works $27,326,861 Recurring Persons Served 0% $126.34 Water $798,969 Recurring Persons Served 0% $3.69
Non-Departmental ($8,461,454) Recurring NA 0% NA
Total Recurring Expenditures $220,228,512 NA NA NA NA
ATTACHMENT 1-C
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

LAND USE AND DEMOGRAPHICS SUMMARY
I Developable Land Use Description
A Projected Residential Land Uses
Number of Units
Residential Land Uses [1] 2,377
B Projected Non-Residential Land Uses Building Sq. Ft.

Non-Residential Land Uses [2] 6,239,686
I Residential Land Use Population
A Projected Residential Land Uses Persons per Household [3] Residential Land Uses 2.493
II Non-Residential Land Use Employee Generation
A Projected Non-Residential Land Uses
Sq. Ft. per Direct Employee [4]
Non-Residential Land Uses 614
I Projected Residential Population
A Projected Residential Land Uses Residential Population Residential Land Uses 5,926
II Projected Direct Employees
A Projected Non-Residential Land Uses
Total Direct Employees
Non-Residential Land Uses 10,162
At the end of EIFD Term
I Total Projected Residential Population 5,926
II Total Projected Direct Employees [5] 10,162
III Total Persons Served Population 11,007
NOTES:
[1] Estimated based on the total projected valuation of $475,300,385 (2024$) and the average 2024-25 assessed valuation of $200,000 per residential unit within the EIFD. [2] Estimated based on the total projected valuation of $1,403,929,326 (2024$) and the average 2024-25 assessed valuation of $225.00 per non-residential buidling sq. ft. within the EIFD [3] California Department of Finance, Housing and Population Information, January 1, 2024. [4] Based on the estimated 5,176,748 sq. ft. of non-residential land use space and 8,432 jobs within the Santa Rosa Downtown Station Area.
[5] An employee is typically assumed to be equivalent to 50% of a resident given they would spend only eight active hours in the EIFD per day versus a resident who is active for 16 hours per day. * All figures subject to rounding
Future Land Use Data (At the end of EIFD Term)
Demographic Data
Population and Employees (Calculations)
Population and Employees (Totals)
ATTACHMENT 1-D
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

PROPERTY TAX REVENUE ANALYSIS
I Property Tax Allocation (as a Portion of the 1% General Property Tax Levy) [1] A Category / Code
Allocated to City [2]
City of Santa Rosa 11.984689%
Total 11.984689%
I Projected Residential Land Uses
A Residential Land Uses End of EIFD Term
Total Estimated Net Taxable Value [3] $475,300,385
II Projected Non-Residential Land Uses
A Non-Residential Land Uses
End of EIFD Term
Total Estimated Net Taxable Value [4] $1,403,929,326
III Total Land Use Net Taxable Value $1,879,229,711
I Unsecured Property Taxes - Assumptions
A Unsecured Taxes as a % of Secured [5]
Residential Property 2.75%
Non-Residential Property 5.00%
II Property Tax Transfer - Assumptions
A Turnover Rate
[6]
Residential Property 10.00%
Non-Residential Property 5.00%
B Other Assumptions
Transfer Tax as a % of Assessed Value [7] 0.11%
Property Transfer Tax Passed Through to City of Santa Rosa [8] 50.00% III Motor Vehicle Licensing Fees - Assumptions
Vehicle Licensing Fees per Capita NA
IV Property Tax In-Lieu of Vehicle License Fee ("VLF") - Assumptions Total City of Santa Rosa Gross Assessed Value [9] $30,981,450,767 City of Santa Rosa Property Tax In-Lieu of Vehicle License Fee [10] $18,495,000 Property Tax In-Lieu of Vehicle License Fee Increase per $1,000 Assessed Value $0.60 I Fiscal Impact Category Annual Fiscal Impact Amount
A Secured Property Tax
A.1 Projected Residential Land Uses End of EIFD Term
Residential Land Uses $569,633
A.2 Projected Non-Residential Land Uses End of EIFD Term Non-Residential Land Uses $1,682,566
B Unsecured Property Tax
B.1 Projected Residential Land Uses End of EIFD Term
Residential Land Uses $15,665
General Property Tax Assumptions
Assessed Valuation Assumptions [3]
Other Property Tax Revenue Assumptions
Fiscal Impact Calculation (At the end of EIFD Term)
ATTACHMENT 1-D
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

PROPERTY TAX REVENUE ANALYSIS
B.2 Projected Non-Residential Land Uses End of EIFD Term Non-Residential Land Uses $84,128
C Property Transfer Tax
C.1 Projected Residential Land Uses End of EIFD Term
Residential Land Uses $26,142
C.2 Projected Non-Residential Land Uses End of EIFD Term Non-Residential Land Uses $38,608
D Property Tax In-Lieu of Vehicle License Fee End of EIFD Term Projected Residential and Non-Residential Land Uses $1,121,844 II Gross Property Tax Revenues $3,538,586
III Property Tax Revenues to EIFD End of EIFD Term
County Admin Fee [11] $0
Secured Property Tax Increment [12] ($477,851)
Secured Property Tax In-Lieu of VLF Increment [12] ($238,023) IV Net Property Tax Revenues $2,822,713
NOTES:
[1] Based on "General Fund" levy for Tax Rate Area (TRA). Data provided by the County of Sonoma Auditor-Controller Office.

TRA allocations adjusted for ERAF. Note, figure does not include non-General Funds. [2] Post-ERAF rates based on the average of the fiscal year 2023-24 rates applicable to the TRAs in the EIFD Boundary.

Source: County of Sonoma Auditor-Controller Office.
[3] Represents an estimated assessed valuation in 2024 dollars based on the projected assessed valuation of $1,135,993,178 at the end of the EIFD term and an assumed discount rate of 2%. [4] Represents an estimated assessed valuation in 2024 dollars based on the projected assessed valuation of $3,355,465,697 at the end of the EIFD term and an assumed discount rate of 2%. [5] Based on typical DTA baseline assumptions.
[6] Based on typical DTA baseline assumptions.
[7] Source: California Revenue & Taxation Code §11901, et seq .;
[8] City of Santa Rosa Municipal Code §3-20.020
[9] Source: County of Sonoma Auditor-Controller Office. [10] Source: City of Santa Rosa Operations and Maintenance Budget, Fiscal Year 2024-25. [11] Assumes the County Admin Fee will be payable from the EIFD tax increments. [12] Equals to 50% of the secured property tax and VLF increments. *
All figures subject to rounding
ATTACHMENT 1-E
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

SALES TAX REVENUE ANALYSIS
I Citywide Sales Tax Assumptions
Projected General Fund Sales Tax Revenue [1] $75,866,735 Estimated Percentage of Citywide Sales Taxes Generated by EIFD [2] 12.00% I Fiscal Impact Category Annual Fiscal Impact Amount
AS a l e s T a x
A.1 Projected Non-Residential Land Uses
Retail Commercial Land Uses $9,104,008
II Total Sales Tax Revenues $9,104,008
NOTES:
[1] Source: City of Santa Rosa Operations and Maintenance Budget, Fiscal Year 2024-25. [2] Source: City of Santa Rosa.
*
All figures subject to rounding
Sales Tax Revenue Assumptions
Fiscal Impact Calculation (At the end of EIFD Term)
ATTACHMENT 1-F
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

TRANSIENT OCCUPANCY TAX REVENUE ANALYSIS
I Citywide Transient Occupancy Tax Assumptions
A Lodging Land Uses
Projected General Fund Transient Occupancy Tax Revenue [1] $7,000,000 Existing Lodging Rooms within the City [2] 1,535
Projected Transient Occupancy Tax per Room $4,560.26
I Projected Lodging Land Uses within EIFD
Lodging Rooms
Existing [2] 364
Future [3] 0
II Total Projected Lodging Land Uses within EIFD 364
I Fiscal Impact Category Annual Fiscal Impact Amount
A Transient Occupancy Tax
A.1 Projected Non-Residential Land Uses
Lodging Land Uses $1,659,935
II Total Transient Occupancy Tax Revenues $1,659,935
NOTES:
[1] Source: City of Santa Rosa Operations and Maintenance Budget, Fiscal Year 2024-25. [2] Source: City of Santa Rosa land use data as of June 30, 2021. [3] Source: Environmental Impact Report for the Santa Rosa Downtown Area Specific Plan Update, December 19, 2019. *
All figures subject to rounding
Sales Tax Revenue Assumptions
Future Land Use Data (At the end of EIFD Term)
Fiscal Impact Calculation (At the end of EIFD Term)
ATTACHMENT 1-G
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

UTILITY USERS TAX REVENUE ANALYSIS
I Projected Annual Utility Expenditures
A Projected Residential Land Uses
Electricity (Per Unit) [1] Gas (Per Unit) [2]
Residential Land Uses $1,072 $1,178
B Projected Non-Residential Land Uses Electricity (Per Sq. Ft.) [3] Gas (Per Sq. Ft.) [4] Lodging $1.8445 $0.4815
Office $1.7882 $0.2915
Retail Commercial $3.7030 $1.0138
Education $1.2813 $0.2740
Industrial $0.4759 $0.0824
I Utility User Tax Rate Assumptions
Electricity - City of Santa Rosa Municipal Code §3-32.060 5.00% Gas - City of Santa Rosa Municipal Code §3-32.070 5.00% I Developable Land Use Description
A Projected Residential Land Uses Number of Units [5]
Residential Land Uses 2,377
B Projected Non-Residential Land Uses Building Sq. Ft. [6] Lodging 133,899
Office 1,902,323
Retail Commercial/Service 3,046,277
Education 34,276
Industrial 1,122,911
I Fiscal Impact Category Annual Fiscal Impact Amount
A Electricity Users Tax
A.1 Projected Residential Land Uses
Residential Land Uses $127,403
A.2 Projected Non-Residential Land Uses
Lodging $12,349
Office $170,083
Retail Commercial/Service $564,024
Education $2,196
Industrial $26,722
A Electricity Users Tax
A.1 Projected Residential Land Uses
Residential Land Uses $139,994
Utility Cost Assumptions
Future Land Use Data (At the end of EIFD Term)
Fiscal Impact Calculation (At the end of EIFD Term)
Utility Users Tax Assumptions
ATTACHMENT 1-G
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

UTILITY USERS TAX REVENUE ANALYSIS
A.2 Projected Non-Residential Land Uses
Lodging $3,224
Office $27,722
Retail Commercial/Service $154,410
Education $470
Industrial $4,625
II Total Utility Users Tax Revenues $1,233,221
NOTES:
[1] Source: Electric Local, City of Santa Rosa (https://www.electricitylocal.com/states/california/santa-rosa/ ). [2] Source: Natural Gas Local, City of Santa Rosa (https://naturalgaslocal.com/states/california/santa-rosa/ ). [3] Estimated usages are based on Table C19, 2018 Commercial Buildings Energy Consumption Survey (CBECS).

Estimated rates are based on Electric Local, City of Santa Rosa (https://www.electricitylocal.com/states/california/santa-rosa/). [4] Estimated usages are based on Table C29, 2018 CBECS.

Estimated rates are based on Natural Gas Local, City of Santa Rosa (https://naturalgaslocal.com/states/california/santa-rosa/). [5] Please see Attachment 1-C. Subject to change.
[6] Existing building sq. ft. is based on the City of Santa Rosa land use data as of June 30, 2021. Projected building Sq. ft. f or future land uses are based on the proposed land use plan in the Environmental Impact Report for the Santa Rosa Downtown Area Specific Plan Update, December 19, 2019.
*
All figures subject to rounding
ATTACHMENT 1-H
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

MULTIPLIER REVENUE SOURCES ANALYSIS
I Revenue Category Multiplier Factor [1] Revenue Projection Basis Business Licenses $48.76 Per Employee
Franchise Fees $48.06 Persons Served
Charges for Current Services $103.27 Persons Served
Licenses and Permits $12.50 Persons Served
Fines, Forfeitures, and Penalties $6.33 Persons Served
Cannabis Industry Tax $0.88 Persons Served
Other / Miscellaneous $0.88 Persons Served
I Fiscal Impact Category Annual Fiscal Impact Amount
Business Licenses $0 $495,499
Franchise Fees $0 $529,008
Charges for Current Services $0 $1,136,717
Licenses and Permits $0 $137,590
Fines, Forfeitures, and Penalties $0 $69,676
Cannabis Industry Tax $0 $9,686
Other / Miscellaneous $0 $9,686
II Total Multiplier Revenues $0 $2,387,862
NOTES:
[1] Source: City of Santa Rosa Operations and Maintenance Budget, Fiscal Year 2024-25. * All figures subject to rounding
Multiplier Revenue Assumptions
Fiscal Impact Calculation (At the end of EIFD Term)
ATTACHMENT 1-I
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

INVESTMENT INCOME REVENUES ANALYSIS
I Investment Income Assumptions
Investment Period for Recurring Non-Interest General Fund Revenues (Months) 1 Local Agency Investment Fund (LAIF) Rate of Return [1] 1.50% Local Agency Investment Fund (LAIF) Percentage of Earnings Cost [1] 50.00% I Fiscal Impact Category
Annual Fiscal Impact Amount
Total Property Tax Revenues (Attachment 1-D) $2,036,975 $2,822,713 Total Sales Tax Revenues (Attachment 1-E) #REF! $9,104,008 Total Transient Occupancy Tax Revenues (Attachment 1-F) $1,659,935 Total Utility Users Tax Revenues (Attachment 1-G) $1,233,221 Total Multiplier Revenues (Attachment 1-H) $0 $2,387,862 II Projected Recurring General Fund Revenues Available for Investment #REF! $17,207,739 III Plus: Investment Income (Less Earnings Cost) #REF! $10,755 IV Total Recurring General Fund Revenues #REF! $17,218,494 NOTES:
[1] Estimate. Subject to change.
* All figures subject to rounding
Assumptions
Fiscal Impact Calculation (At the end of EIFD Term)
ATTACHMENT 1-J
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

PUBLIC SAFETY EXPENDITURES ANALYSIS
I Estimated Service Expenditures at the end of EIFD Term A Staffing Costs Number of positions Position cost
Lieutenant 1 $335,386
Sergeant 1 $325,831
Officer 10 $233,620
Field Evidence Technician 2 $158,574
Dispatcher 2 $149,835
Records Technician 2 $120,831
B Other Costs
Number of positions Position cost
Training 18 $1,270
Equipment 18 $26,430
Overhead 18 $20,457
I Estimated Service Expenditures for Existing EIFD Population General Fund Fire Department Budget [2] $58,787,381
Fire Protection Expenditures Allocable to EIFD Area [3] 6% II Estimated Service Expenditures for Future EIFD Population [3] Staffing for Additional Engine Company $2,500,000
Staffing for Additional Medical Aid Response $1,500,000 Facility/Equipment Maintenance/Replacement Costs $260,000 III Estimated Service Expenditures at the end of EIFD Term Existing EIFD Population $3,527,243
Future EIFD Population $4,260,000
I Fiscal Impact Category
Annual Fiscal Impact Amount
Police $4,722,727
Fire Protection $7,787,243
II Total Public Safety Expenditures $0 $12,509,970
NOTES:
[1] Source: Santa Rosa Police Department.
[2] Source: City of Santa Rosa Operations and Maintenance Budget, Fiscal Year 2024-25. [3] Source: Santa Rosa Fire Department.
*
All figures subject to rounding
Police Expenditure Assumptions [1]
Fiscal Impact Calculation (At the end of EIFD Term)
Fire Protection Expenditure Assumptions
ATTACHMENT 1-K
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

MULTIPLIER EXPENDITURES ANALYSIS
I Expenditure Category Multiplier Factor [1] Expenditure Projection Basis Housing & Community Services $0.74 Persons Served
Planning & Economic Development $90.01 Persons Served
Recreation & Community Engagement $86.82 Persons Served Transportation & Public Works $126.34 Persons Served
Water $3.69 Persons Served
I Fiscal Impact Category
Annual Fiscal Impact Amount
Housing & Community Services $0 $8,145
Planning & Economic Development $0 $990,761
Recreation & Community Engagement $0 $955,648
Transportation & Public Works $0 $1,390,654
Water $0 $40,617
II Total Multiplier Expenditures $0 $3,385,825
NOTES:
[1] Source: City of Santa Rosa Operations and Maintenance Budget, Fiscal Year 2024-25. * All figures subject to rounding
Multiplier Expenditure Assumptions
Fiscal Impact Calculation (At the end of EIFD Term)
ATTACHMENT 1-L
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

GENERAL GOVERNMENT EXPENDITURES ANALYSIS
I General Government Overhead Expenditures
Total Recurring General Fund Expenditures $196,533,899
(excluding General Government Overhead) [1]
Recurring General Government Overhead Expenditures 12.1% (as a % of Total Recurring General Fund Expenditures) [2] Marginal Increase in General Government Costs 90%
I Fiscal Impact Category Annual Fiscal
Impact Amount Annual Fiscal Impact Amount
Total Multiplier Expenditures (Attachment 1-J) $12,509,970 Total Multiplier Expenditures (Attachment 1-K) #REF! $3,385,825 II Projected Recurring General Fund Expenditures #REF! $15,895,795 III Plus: General Government Costs #REF! $367,383
IV Total Recurring Expenditures #REF! $16,263,178
NOTES:
[1] Based on City of Santa Rosa Operations and Maintenance Budget, Fiscal Year 2024-25. [2] General Government Overhead Expenditures defined as costs for Legislative, Administration, Finance, Development Services, and other General Government. * All figures subject to rounding
Assumptions
Fiscal Impact Calculation (At the end of EIFD Term)

ATTACHMENT 1-A
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

COUNTY OF SONOMA GENERAL FUND REVENUES (BY TYPE)
I Demographics and Other Data
A Countywide
2024 Estimated Population [1] 478,152
2024 Estimated Employees [2] 238,000
2024 Persons Served Population [3] 597,152
B Unincorporated
2024 Estimated Population [1] 130,777
2024 Estimated Employees [2] 66,000
2024 Persons Served Population [3] 163,777
Notes:
[1] California Department of Finance, Housing and Population Information, January 1, 2024. [2] California Employment Development Department, Monthly Labor Force Data for Cities and Census Designated Places (CDP), November 2024 - Preliminary.

II Recurring County General Fund Revenue Sources (by Type) Total
Revenues
Revenue
Type
Fiscal Impact
Jurisdiction
Fiscal Impact
Basis Discount
Fiscal Impact
Revenue
Factor
Tax Revenue Persons Served $0.00
Property Taxes $333,627,961 Recurring Unincorporated Case Study NA NA Sales and Use Taxes $26,649,982 Recurring Unincorporated Case Study NA NA Teeter Prop Tax Penalties $3,404,148 Recurring Unincorporated Case Study NA NA RDA $12,580,902 Recurring Unincorporated Case Study NA NA Property Tax Admin Fees $2,935,500 Recurring Countywide Case Study NA NA State Homeowners Property Tax Relief $1,080,000 Recurring Unincorporated Case Study NA NA Property Transfer Taxes $4,896,000 Recurring Countywide Case Study NA NA Transient Occupancy Taxes $6,931,084 Recurring Unincorporated Case Study NA NA Franchise Fees $3,680,000 Recurring Unincorporated Persons Served 100% $0.00 Interest Income $5,305,000 Recurring NA Case Study NA NA Tribal Mitigation Reimbursement $2,449,142 Recurring NA NA NA NA Reinvestment and Revitalization Fund $9,476,026 Recurring NA NA NA NA Federal Geothermal $1,800,000 Recurring NA NA NA NA
Other Government Agencies $367,000 Recurring NA NA NA NA Countywide Cost Allocation Plan $13,483,082 Recurring NA NA NA NA Other / Miscellaneous $540,000 Recurring NA NA NA NA
Operating Transfers-in $350,537 Recurring NA NA NA NA
$429,556,364 NA NA NA NA NA
Revenue Type
Total Recurring Revenues
[3] Assumes population plus 50% of employees.

ATTACHMENT 1-B
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

COUNTY OF SONOMA GENERAL FUND EXPENDITURES (BY TYPE)
I Demographics and Other Data
Countywide
2024 Estimated Population [1] 478,152
2024 Estimated Employees [2] 238,000
2024 Persons Served Population [3] 597,152
Unincorporated
2024 Estimated Population [1] 130,777
2024 Estimated Employees [2] 66,000
2024 Persons Served Population [3] 163,777
Notes:
[1] California Department of Finance, Housing and Population Information, January 1, 2024. [2] California Employment Development Department, Monthly Labor Force Data for Cities and Census Designated Places (CDP), November 2024 - Preliminary.
[3] Assumes population plus 50% of employees.

II Recurring County General Fund Expenditures (by Type) Expenditure Type Total
Expenditures
Expenditure
Type
Fiscal Impact
Jurisdiction
Fiscal Impact
Basis Discount
Fiscal Impact
Expenditure
Factor
General Government
County Administrator/Board of Supervisors $13,840,065 Recurring Countywide Case Study NA NA County Counsel $1,032 Recurri ng Countywide Case Study NA NA General Services $22,606,394 Recurring Countywide Case Study NA NA Human Resources $14,172,836 Recurring Countywide Case Study NA NA Independent Office of Law Enforcement Review $2,250,477 Recurring Unincorporated Case Study NA NA Information Systems $1,616,613 Recurring Unincorporated Case Study NA NA Office of Equity $1,454,778 Recurring Unincorporated Case Study NA NA Auditor-Controller-Treasurer-Tax Collector $6,718,638 Recurring Countywide Case Study NA NA Clerk-Recorder-Assessor $16,195,047 Recurring Countywide Case Study NA NA Board of Supervisors Contingency $5,000,000 Recurring Countywide Case Study NA NA Non-General Government
Court Support/Grand Jury $9,516,438 Recurring Countywide Persons Served 25% $11.95 Department of Health Services $10,975,336 Recurring Countywide Persons Served 25% $13.78 District Attorney $21,788,130 Recurring Countywide Persons Served 25% $27.37 Emergency Management $2,748,376 Recurring Countywide Persons Served 25% $3.45 Human Services $29,498,786 Recurring Countywide Persons Served 25% $37.05 Agricultural Commissioner $2,576,650 Recurring Countywide Persons Served 25% $3.24 Permit Sonoma $5,913,577 Recurring Unincorporated Persons Served 100% $0.00 Probation $39,156,359 Recurring Countywide Persons Served 25% $49.18 Public Defender $15,282,320 Recurring Countywide Persons Served 25% $19.19 Regional Parks $5,112,485 Recurring Countywide Persons Served 25% $6.42 Sheriff's Office $115,560,732 Recurring Unincorporated Persons Served 100% $0.00 Transportation & Public Works $27,547 Recurring Unincorporated Persons Served 100% $0.00 UC Cooperative Extension $1,401,159 Recurring Countywide Persons Served 25% $1.76 Fire $1,500,000 Recurring Unincorporated Persons Served 100% $0.00 Community Development Commission $955,661 Recurring Unincorporated Persons Served 100% $0.00 Employee Programs $3,788,925 Recurring Countywide Persons Served 25% $4.76 Deferred Maintenance Fund $18,121,144 Recurring Countywide Persons Served 25% $22.76 Capital Project Plan Contribution $5,500,000 Recurring Countywide Persons Served 25% $6.91 Funding for Specific Programs $8,380,553 Recu rring Unincorporated Persons Served 100% $0.00 City of Santa Rosa Annexation $1,462,000 Recurring NA NA NA NA Reinvestment & Revitalization Fund $12,580,902 Recurring Unincorporated Persons Served 100% $0.00 Road Operations and Pavement Program $16,190,198 Recurring Countywide Persons Served 25% $20.33 Non-Departmental $2,167,900 Recurring Unincorporated Persons Served 100% $0.00 Future Needs/Reserves $15,495,307 Recurring Countywide NA NA NA Total Recurring Expenditures $429,556,365 NA NA NA NA NA ATTACHMENT 1-C
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

Non-Residential Land Uses [2] 6,239,686
I Residential Land Use Population
A Projected Residential Land Uses Persons per Household [3] Residential Land Uses 2.493
II Non-Residential Land Use Employee Generation
A Projected Non-Residential Land Uses
Sq. Ft. per Direct Employee [4]
Non-Residential Land Uses 614
I Projected Residential Population
A Projected Residential Land Uses Residential Population Residential Land Uses 5,926
II Projected Direct Employees
A Projected Non-Residential Land Uses
Total Direct Employees
Non-Residential Land Uses 10,162
At the end of EIFD Term
I Total Projected Residential Population 5,926
II Total Projected Direct Employees [5] 10,162
III Total Persons Served Population 11,007
NOTES:
[1] Estimated based on the total pro jected valuation of $475,300,385 (2024$) and the average 2024-25 assessed valuation of $200,000 per residential unit within the EIFD. [2] Estimated based on the total projected valuation of $1,403,929,326 (2024$) and the average 2024-25 assessed valuation of $225.00 per non-residential buidling sq. ft. within the EIFD [3] California Department of Finance, Housing and Population Information, January 1, 2024. [4] Based on the estimated 5,176,748 sq. ft. of non-residential land use space and 8,432 jobs within the Santa Rosa Downtown Station Area.
[5] An employee is typically assumed to be equivalent to 50% of a resident given they would spend only eight active hours in the EIFD per day versus a resident who is active for 16 hours per day. * All figures subject to rounding
Future Land Use Data (At the end of EIFD Term)
Demographic Data
Population and Employees (Calculations)
Population and Employees (Totals)
ATTACHMENT 1-D
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

PROPERTY TAX REVENUE ANALYSIS
I Property Tax Allocation (as a Portion of the 1% General Property Tax Levy) [1] AC a t e g o r y / C o d e
Allocated to County [2]
County of Sonoma 19.830200%
Total 19.830200%
I Projected Residential Land Uses
A Residential Land Uses End of EIFD Term
Total Estimated Net Taxable Value [3] $475,300,385
II Projected Non-Residential Land Uses
A Non-Residential Land Uses
End of EIFD Term
Total Estimated Net Taxable Value [4] $1,403,929,326
III Total Land Use Net Taxable Value $1,879,229,711
I Unsecured Property Taxes - Assumptions
A Unsecured Taxes as a % of Secured [5]
Residential Property 2.75%
Non-Residential Property 5.00%
II Property Tax Transfer - Assumptions
AT u r n o v e r R a t e
[6]
Residential Property 10.00%
Non-Residential Property 5.00%
B Other Assumptions
Transfer Tax as a % of Assessed Value [7] 0.11%
Property Transfer Tax Passed Through to County of Sonoma [8] 50.00% I Fiscal Impact Category Annual Fiscal Impact Amount
A Secured Property Tax
A.1 Projected Residential Land Uses End of EIFD Term
Residential Land Uses $942,530
A.2 Projected Non-Residential Land Uses End of EIFD Term Non-Residential Land Uses $2,784,020
B Unsecured Property Tax
B.1 Projected Residential Land Uses End of EIFD Term
Residential Land Uses $25,920
B.2 Projected Non-Residential Land Uses End of EIFD Term Non-Residential Land Uses $139,201
C Property Transfer Tax
C.1 Projected Residential Land Uses End of EIFD Term
Residential Land Uses $26,142
C.2 Projected Non-Residential Land Uses End of EIFD Term Non-Residential Land Uses $38,608
II Gross Property Tax Revenues $3,956,421
General Property Tax Assumptions
Assessed Valuation Assumptions [3]
Other Property Tax Revenue Assumptions
Fiscal Impact Calculation (At the end of EIFD Term)
ATTACHMENT 1-D
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

PROPERTY TAX REVENUE ANALYSIS
III Property Tax Revenues to EIFD End of EIFD Term
County Admin Fee [9] $0
Secured Property Tax Increment [10] ($395,332)
IV Net Property Tax Revenues $3,561,089
NOTES:
[1] Based on "General Fund" levy for Tax Ra te Area (TRA). Data provided by the County of Sonoma Auditor-Controller Office.

TRA allocations adjusted for ERAF. Note, figure does not include non-General Funds. [2] Post-ERAF rates based on the average of the fiscal year 20 23-24 rates applicable to the TRAs in the EIFD Boundary.

Source: County of Sonoma Auditor-Controller Office.
[3] Represents an estimated assessed valuation in 2024 dollars based on the projected assessed valuation of $1,135,993,178 at the end of the EIFD term and an assumed discount rate of 2%. [4] Represents an estimated assessed valuation in 2024 dollars based on the projected assessed valuation of $3,355,465,697 at the end of the EIFD term and an assumed discount rate of 2%. [5] Based on typical DTA baseline assumptions.
[6] Based on typical DTA baseline assumptions.
[7] Source: California Revenue & Taxation Code §11901, et seq .;
[8] City of Santa Rosa Municipal Code §3-20.020 an d County of Sonoma Code of Ordinance §12-23. [9] Assumes the County Admin Fee will be payable from the EIFD tax increments. [10] Equals to 25% of the secured property tax and VLF increments. *
All figures subject to rounding
ATTACHMENT 1-E
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

INVESTMENT INCOME REVENUES ANALYSIS
I Investment Income Assumptions
Investment Period for Recurring Non-Interest General Fund Revenues (Months) 1 Local Agency Investment Fund (LAIF) Rate of Return [1] 1.50% Local Agency Investment Fund (LAIF) Percentage of Earnings Cost [1] 50.00% I Fiscal Impact Category
Annual Fiscal Impact Amount
Total Property Tax Revenues (Attachment 1-D) $2,278,902 $3,561,089 II Projected Recurring General Fund Revenues Available for Investment $2,278,902 $3,561,089 III Plus: Investment Income (Less Earnings Cost) $17,092 $2,226 IV Total Recurring General Fund Revenues $2,295,994 $3,563,315 NOTES:
[1] Estimate. Subject to change.
* All figures subject to rounding
Assumptions
Fiscal Impact Calculation (At the end of EIFD Term)
ATTACHMENT 1-F
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

MULTIPLIER EXPENDITURES ANALYSIS
I Expenditure Category Multiplier Fact or [1] Expenditure Projection Basis Court Support/Grand Jury $11.95 Persons Served
Department of Health Services $13.78 Persons Served
District Attorney $27.37 Persons Served
Emergency Management $3.45 Persons Served
Human Services $37.05 Persons Served
Agricultural Commissioner $3.24 Persons Served
Probation $49.18 Persons Served
Public Defender $19.19 Persons Served
Regional Parks $6.42 Persons Served
UC Cooperative Extension $1.76 Persons Served
Employee Programs $4.76 Persons Served
Deferred Maintenance Fund $22.76 Persons Served
Capital Project Plan Contribution $6.91 Persons Served
Water Security Fund $0.00 Persons Served
Road Operations and Pavement Program $20.33 Persons Served I Fiscal Impact Category
Annual Fiscal Impact Amount
Court Support/Grand Jury $0 $131,536
Department of Health Services $0 $151,680
District Attorney $0 $301,268
Emergency Management $0 $37,975
Human Services $0 $407,818
Agricultural Commissioner $0 $35,663
Probation $0 $541,336
Public Defender $0 $211,229
Regional Parks $0 $70,666
UC Cooperative Extension $0 $19,373
Employee Programs $0 $52,394
Deferred Maintenance Fund $0 $250,525
Capital Project Plan Contribution $0 $76,060
Water Security Fund $0 $0
Road Operations and Pavement Program $0 $223,777
II Total Multiplier Expenditures $0 $2,511,300
NOTES:
[1] Source: County of Sonoma Recommended Budget, Fiscal Year 2024-25. * All figures subject to rounding
Multiplier Expenditure Assumptions
Fiscal Impact Calculation (At the end of EIFD Term)
ATTACHMENT 1-G
SANTA ROSA, CALIFORNIA: SANTA ROSA EIFD (DOWNTOWN BUSINESS CORRIDOR)

GENERAL GOVERNMENT EXPENDITURES ANALYSIS
I General Government Overhead Expenditures
Total Recurring General Fund Expenditures $345,700,485
(excluding General Government Overhead) [1]
Recurring General Government Overhead Expenditures 24.3% (as a % of Total Recurring General Fund Expenditures) [2] Marginal Increase in General Government Costs 75%
I Fiscal Impact Category Annual Fiscal
Impact Amount Annual Fiscal Impact Amount
Total Multiplier Expenditures (Attachment 1-J) #REF! $2,511,300 II Projected Recurring Ge neral Fund Expenditures #REF! $2,511,300 III Plus: General Government Costs #REF! $456,871
IV Total Recurring Expenditures #REF! $2,968,171
NOTES:
[1] Source: County of Sonoma Recommended Budget, Fiscal Year 2024-25. [2] General Government Overhead Expenditures de fined as costs for Legislative, Administration, Finance, Development Services, and other General Government. * All figures subject to rounding
Assumptions
Fiscal Impact Calculation (At the end of EIFD Term)

Santa Rosa City CouncilJune 3, 2025

Santa Rosa City Council
June 3, 2025