September 2025
SJCOG, Inc.
STAFF REPORT
SUBJECT: Approval of San Joaquin Multi-Species
Conservation an Open Spaces Plan
(SJMSCP) Five-Year Financial Analysis
Update and 2026 SJMSCP Development
Fee
RECOMMENDED ACTION: 1) Adopt the SJMSCP Five-Year Financial Analysis Update and 2) Approve 2026
SJMSCP Development Fees as Adjusted
Pursuant to the Financial Analysis Model
DISCUSSION:
SUMMARY:
Over the last many months, SJCOG, Inc. staff, Willdan and the Habitat Technical Advisory Committee (HTAC) Financial Subcommittee have engaged in the required five-year
financial update to the San Joaquin County Multi-Species Habitat Conservation and Open Space Plan (SJMSCP). The
last review was in 2020. For the current 2025 update, the main areas of focus were the categories of the fee model regarding land costs to be used for mitigation (Category A), required restoration/enhancement costs on preserve lands (Category B), and monitoring, management and
administration of the program and preserves (Category C).
During the current review, the Financial Sub-committee kept the previously adopted financial model with the following minor alterations to the fee model and process. A summary of these changes is below; a more detailed explanation is provided in the Background section of the staff report
Category A:
1) Removal of “outliers” from comparable land sales data (those sales more than three standard deviations from the mean per acre price).
2) Easement purchase values are estimated to be 55% of full fee title land sale values (sales of land without habitat easements in place). This is a reduction from the previous assumption of 56% and is subject to review midway through the next five-year cycle.
ATTACHMENT A
Category B:
1)
Updated with the most recent SJMSCP reporting from 2024 Annual Report, including updated cost values for habitat enhancement projects on preserves, and review of the allocation of preserve land types purchased to meet the required mitigation under the habitat plan to ensure that development fees provide maximum value for fee payers and conservation.
Category C:
1) Updates to the administrative aspects of the plan, updated biological costs for project review, and updating of endowment account policy with investment strategies (e.g. a more diversified portfolio for higher yield on investment) for preserve funds.
The proposed 2026 SJMSCP development fees were adjusted using the recommended SJMSCP five-year financial model update for the respective categories and are compared to the 2025 SJMSCP Development fees (Table 1) in the most common habitat categories under the plan. The change is an overall increase of 8.3% in the most impacted categories of Agricultural and Natural Habitat Classifications from the prior year.
Table 1- Compared 2026 & 2025 SJMSCP Development Fees – Most Common Fee Habitat Types 2026 Fee Proposed 2025 Fee Adopted Difference Percent Change Agricultural/Natural $17,868 $16,492 $1,376 8.3%
T
he increase is due primarily to a rise in the land acquisition component (Category A) for agricultural land values of comparable sales and updating of current costs for land management and enhancement activities for on-going preserves (Category B).
RECOMMENDATION:
SJCOG, Inc. staff and the Habitat Technical Advisory Committee (HTAC) recommend 1) Adopt the SJMSCP Five-Year Financial Analysis Update and 2) Approve 2026 SJMSCP Development Fees as Adjusted Pursuant to the Financial Analysis Model FISCAL IMPACT:
Development fees provide funding for SJCOG, Inc. to provide biological coverage and mitigate project impacts covered under the SJMSCP permits for the subsequent calendar year beginning January 1, 2026. The resulting increase in fee revenue will offset increasing costs to acquire and manage preserve lands.
BACKGROUND:
For the current SJMSCP five-year financial analysis update review, SJCOG, Inc. staff, Willdan and the HTAC Financial Subcommittee (Table 2) reviewed the currently adopted model which estimates the costs of implementation for fulfillment of the SJMSCP permits and defines the three fee categories:
ATTACHMENT A
Category A – Acquisition
Category B - Enhancement
Category C - Land Management, Monitoring & Administration).
The three main areas of focus were the categories of the fee model regarding land costs to be used for mitigation, required restoration/enhancement costs on preserve lands, and monitoring, management and administration of the program and preserves.
The HTAC Financial Subcommittee maintained the formula model for fee calculations to allow for response to market fluctuations and cost changes which need to be reflected in the mitigation fee. The formula is still categorized into three distinct components to better calculate an accurate fee per acre [FEE = Category A (acquisition) + Category B (assessment & enhancement) + Category C (management, monitoring & administration)].
Category A (acquisition) – Comparable Land Sales
This category is directly related to land valuation based on comparable land sales in San Joaquin County in specific zones of the plan area (Central Zone, Central Southwest Transition Zone and Delta Zone) over an established 2-year period
meeting the established criteria used for comparable land sales (attachment 1). Cost estimates for this category will continue to be evaluated on a yearly basis by taking all qualified fee title comparable sales in each zone to set a weighted cost per acre like the methodology in the financial analysis updates prior but excluding any outliers (costs above or below 3 standard deviations of the mean).
This fee model update also revises the fee title/easement valuation percentage method for determining the cost of easement acquisition in the model to be lowered to 55% with a mid-term cycle review during the five-year term between updates, based on the easement data collected by SJCOG, Inc. staff.
Table 2- Financial Subcommittee and Consultants
John Beckman, BIA of the Great Valley
Dan Gifford, Conservation
Hailey Donaldson/Mia Bianchi, CA Department of Fish and Wildlife, HCP Representatives SJCOG, Inc. staff (Steven Mayo, Laurel Boyd)
Legal Counsel for SJCOG, Inc.: Andy Pinasco & Tooba Naveed, Neumiller & Beardslee Consultant for SJCOG, Inc.: Carlos Villarreal & James Edison, Willdan Consultant for SJCOG, Inc.: Doug Leslie, ICF
ATTACHMENT A
The model update results in a 15.1% increase in the Agricultural/Natural Habitat types of Category A (Acquisition) component to be $11,056.00. The reason for the increase is the rise in comparable fee title land sale values.
Category B (assessment & enhancement) – Refined Cost Factors
The recommended changes to this category include updated and refined cost factors for biological site assessment, preserve enhancement and management planning, and preserve enhancement unit costs. These unit costs reflect current assessment of enhancement practices for different types of preserve lands. In addition, the updated analysis redistributes preserve acres between grasslands and agricultural land types to more accurately reflect the mitigation purposes described in the adopted SJMSCP with the application of California CPI as an adjustment mechanism.
However, the total cost for Category B is also a function of the SJMSCP Annual Report data updated annually with the acres remaining to be acquired and the number of years remaining in the permit term. The fee per acre is a function of those total calculated costs and the land conversion acres remaining.
The model update results in a 2% increase in the Agricultural/Natural Habitat types of Category B (Assessment & Enhancement) component to be $6,185.00.
Category C (Management, Monitoring & Administration) – Refined Cost Factors/Long Term Investment
The recommended changes to this category include refined monitoring cost factors and updated management and administration cost factors that are based on analysis of SJCOG, Inc. spending in these categories. The update includes refinement of the post- permit endowment costs and continuing with a more robust diversified endowment investment strategy for a higher return on investment yield that provides for a net annual yield of 3.66% after absorbing inflation and management costs.
Annual cost updates will continue to use the California Consumer Price Index (CPI), as reported by the California Department of Finance, for the preceding 12-month fiscal year (e.g. June – June) to keep up with inflation on an annual basis.
ATTACHMENT A
The model update results in a 23.3% decrease in the Agricultural/Natural Habitat types of Category C (Management, Monitoring & Administration) component from prior years to be $627.00.
In summary, the 2026 SJMSCP fees (Attachment 2 - SJMSCP Cost and 2026 Fee Analysis) are calculated using the updated financial analysis formula model as displayed in the graphic below:
Table 4 below shows the proposed 2026 SJMSCP development fees in each habitat type category. The overall result in the fee analysis is an 8.3% increase in the most impacted classifications (Agricultural and Natural Habitat Classifications) fees for 2026.
Table 4 - 2026 SJMSCP Development Fees - Proposed
Habitat Type Category A Category B Category C Total Fee Rounded Fee Other Open Space $5,528 .00 $3,093.00 $314.00 $ 8,935.00 $8,935 Ag/Natural Lands $11,056.00 $6,185.00 $627.00 $17,868.00 $17,868 Vernal Pool
Grasslands $55,474.00 $15,764.00 $1,424.00 $72,662.00 $72,662 Vernal Pool Wetted $54,519.00 $127,980.00 $1,395.00 $183,894.00 $183,894
COMMITTEE ACTIONS:
Habitat Technical Advisory Committee (HTAC): Recommend Approval Management & Finance: Information
Exec Committee: Information
NEXT STEPS:
Should the staff recommendation be approved by the SJCOG, Inc. Board at the September 25th Board meeting, staff will work with local jurisdictions to adopt the 2026 SJMSCP development fees pursuant to the newly adopted financial analysis model.
ATTACHMENTS:
1. 2026 Fee Study Property List
2. SJMSCP Cost and 2026 Fee Analysis Model
Prepared by: Steven Mayo, Program Manager
ATTACHMENT A
Attachment 1 – 2026 Fee Study Property List - Props 24 Month 3 Stand Dev
ATTACHMENT A
Attachment 2 – SJMSCP Cost and 2026 Fee Analysis Model
ATTACHMENT A
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Final SJMSCP Five-Year Economic Analysis and 2026
SJMSCP Fee Update
Category A Category B Category C
2026 Fees - FINAL DRAFT Acquisition Assessment &
Enhancement
Monitoring,
Management &
Administration, & Post-
permit Endowment
Total Total Rounded
Other Open Space $5,528.00 $3,093.00 $314.00 $8,935.00 $8,935 Natural/Ag Lands $11,056.00 $6,185.00 $627.00 $17,868.00 $17,868 Vernal Pool Grasslands $55,474.00 $15,764.00 $1,424.00 $72,662.00 $72,662 Vernal Pool Wetted $54,519.00 $127,980.00 $1,395.00 $183,894.00 $183,894 Category A Category B Category C
2025 Fees - Adopted Acquisition Assessment &
Enhancement
Monitoring,
Management &
Administration, & Post-
permit Endowment
Total Total Rounded
Other Open Space $4,804.00 $3,033.00 $409.47 $8,246.47 $8,246 Natural/Ag Lands $9,608.00 $6,066.00 $817.74 $16,491.74 $16,492 Vernal Pool Grasslands $48,084.00 $15,386.00 $2,019.72 $65,489.72 $65,490 Vernal Pool Wetted $48,270.00 $127,031.00 $1,980.10 $177,281.10 $177,281 Difference Per Acre ($) Acquisition Assessment &
Enhancement
Monitoring,
Management &
Administration, & Post-
permit Endowment
Total Total Rounded
Other Open Space $724 $60 ($95) $689 $689
Natural/Ag Lands $1,448 $119 ($191) $1,376 $1,376
Vernal Pool Grasslands $7,390 $378 ($596) $7,172 $7,172 Vernal Pool Wetted $6,249 $949 ($585) $6,613 $6,613
Percent Difference Acquisition Assessment &
Enhancement
Monitoring,
Management &
Administration, & Post-
permit Endowment
Total Total Rounded
Other Open Space 15.1% 2.0% -23.3% 8.3% 8.3%
Natural/Ag Lands 15.1% 2.0% -23.3% 8.3% 8.3%
Vernal Pool Grasslands 15.4% 2.5% -29.5% 11.0% 11.0%
Vernal Pool Wetted 12.9% 0.7% -29.5% 3.7% 3.7%
ATTACHMENT A
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TABLE A.1
2025 Five-Year Economic Analysis and Fee Update
SJMSCP Fee Update - 2025 (for 2026 SJMSCP Development Fee Cycle) Category A Per-Acre Acquisition Cost Factors by Zone (2025 dollars) 2024 Update
Assumptions
Central Zone Primary Zone of
the Delta
Southwest
Zone 3 Central Zone % Change
Primary
Zone of the
Delta
% Change Southwest
Zone 3 % Change
Fee title value 1 a $21,687 $14,151 na $18,799 15.4% $12,555 12.7% na Easement percent of fee title value 2 b 55% 55% na 55% 55% na Easement costs a × b $11,928 $7,783 $1,000 $10,339 15.4% $6,905 12.7% $1,000 0.0%
1. SJCOG, Inc. Fee Study Property List, Table A and Table B
2. SJCOG, Inc. Appraisals as of July 2025.
3. Based on standard easement cost in Southwest Zone of $1,000/acre.
ATTACHMENT A
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TABLE A.2
2025 Five-Year Economic Analysis and Fee Update
SJMSCP Fee Update - 2025 (for 2026 SJMSCP Development Fee Cycle) Per Acre Acquisition Cost by Preserve/Habitat Type (2025 dollars) Preserve/Habitat Type
Central Zone Primary Zone of
the Delta
Southwest
Zone 2024 Update
Assumptions % Change
A B C A + B + C = D D × 5% = E D + E
Easement cost by zone 1 d $11,928 $7,783 $1,000
Agricultural Lands
Percent in zone 2 e 98% 2% 0%
Weighted costs 3 d × e $11,713 $141 $0 $11,854 $593 $12,447 $10,791 15.3% Natural Lands
Non-vernal pool natural lands
Percent in zone 2 f 77% 4% 18%
Weighted costs 3 d × f $9,215 $346 $183 $9,744 $487 $10,231 $8,902 14.9% Vernal pool grasslands 4 n/a n/a n/a $17,350 $868 $18,218 $15,791 15.4% Vernal pool wetted 4 n/a n/a n/a $17,350 $868 $18,218 $15,791 15.4%
1. See Table A.1.
2. Percent of total lands in each category assumed to be in a given zone. Based on 1996 Economic Analysis.
4. Assumes fee title acquisition for vernal pool lands. Vernal pool habitat fee title land costs assumed to be about 80% of average Central Zone fee title costs.
5. Transaction costs include biological baseline reporting, appraisal, escrow, and survey costs. Costs are estimated at 5 percent of acquisition cost.
SJMSCP Zone
3. Weighted average cost based on generalized proportion of total preserve land in each zone. Assumes easement acquisition for lands categorized as agriculture and all natural lands except vernal pool habitat.
Total
Weighted
Acquisition
Cost
Transaction
Costs 5
Total Land
Acquisition
Costs Per
Acre
ATTACHMENT A
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TABLE A.3
2025 Five-Year Economic Analysis and Fee Update
SJMSCP Fee Update - 2025 (for 2026 SJMSCP Development Fee Cycle) Total Acquisition Costs by Habitat Type, Remainder of Permit Term (2025 dollars) Preserves by Habitat Type
Land
Acquisition
Cost Per Acre
Preserve Acres
Remaining to
be Acquired
Total Costs of
Acquisition 2024 Update
Assumptions % Change
Agricultural lands $12,447 35,651.31 $443,751,868 $394,210,888 12.6% Natural lands
Non-vernal pool natural lands $10,231 23,069.63 $236,025,385 $210,139,188 12.3% Total for Non-vernal pool Natural /Ag Lands $11,576 58,720.94 $679,777,253 $604,350,076 12.5% Vernal pool grasslands $18,218 15,720.66 $286,398,893 $248,244,863 15.4% Vernal pool wetted $18,218 2,115.00 $38,531,070 $33,397,965 15.4% Sources: SJCOG, Inc., SJMSCP 2025 Annual Report, and Willdan Financial Services.
ATTACHMENT A
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TABLE A.4
2025 Five-Year Economic Analysis and Fee Update
SJMSCP Fee Update - 2025 (for 2026 SJMSCP Development Fee Cycle) Category A Acquisition
Fee Calculations (2025 dollars)
Habitat Type Preserve Land Acquisition
2024
Update % Change
Costs associated with non-vernal pool natural/agricultural lands conversion $679,777,253 Natural (non vernal pool)/Agricultural land conversion (acres) , remaining 44,732.77 Multi-purpose open space conversion (acres), remaining 1 33,500.48 Multiplier for natural/agricultural land conversion 1
Multiplier for multi-ourpose open space conversion 1 0.5 Acquisition Component of Natural (non vernal pool)/Agricultural Lands Fee $11,056 $9,608 15.1% Acquisition Component of Multi-Purpose Open Space Fee1 $5,528 $4,804 15.1% Costs associated with vernal pool grasslands $286,398,893 Vernal pool grassland conversion (acres), remaining 5,162.74 Acquisition Component of Vernal Pool Grasslands Fee $55,474 $48,084 15.4% Costs associated with vernal pool wetted $38,531,070
Vernal pool wetted conversion (acres), remaining 706.75 Acquisition Component of Vernal Pool Wetted Fee $54,519 $48,270 12.9%
1. As described in SJMSCP Section 7.4.1.2, the fee calculation allocates the costs associated with agricultural habitat and non-vernal pool natural lands preserves to conversion of both those high value lands (agricultural land and non-vernal pool natural land) and lower value multi-purpose open space. In other words, the SJMSCP does not enhance multi-purpose open space lands but allocates some of the costs of enhancements on agricultural and natural lands preserves to the conversion of multi-purpose open space lands to assist with the financing of those enhancements.
Sources: SJCOG, Inc., SJMSCP 2024 Annual Report, and Willdan Financial Services.
ATTACHMENT A
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TABLE B.1
2025 Five-Year Economic Analysis and Fee Update
SJMSCP Fee Update - 2025 (for 2026 SJMSCP Development Fee Cycle) Category B Assessment, Planning, Restoration and Enhancement Habitat Type
Total Preserve
Acres (including
neighboring
lands preserves)
Percent of
Preserve
Acres
Enhanced1
Acres
Benefiting from
Enhancements
Perimeter
Hedgerow or Other
Linear Habitat
Feature ( acres)2
Enhancement
Cost per Acre3
Total
Enhancement
Cost
Enhancement
Cost per
Preserve Acre
1 2 3 4 5 6 7
Agricultural Habitat Lands4 57,935 10% 5,794 776 $48,379 $37,542,104 $648 Natural Lands
Ditches 378 33% 126 $489,765 $61,710,390 Grasslands 14,559 33% 4,853 $24,233 $117,604,218 Oak woodlands 858 33% 286 $35,858 $10,255,317 Riparian 2,725 33% 908 $105,100 $95,465,721 Submerged aquatic in the Delta 10 100% 10 $72,951 $729,512 Subtotal 18,530 6,183 $46,215 $285,765,157 Other natural lands5 6,445 33% 2,148 $46,215 $99,286,061 Subtotal Non VP Natural 24,975 $385,051,219 $15,417 Vernal pool wetted 2,121 33% 707 $128,222 $90,653,037 $42,741 Vernal pool grasslands 15,811 33% 5,270 $15,456 $81,458,355 $5,152 Subtotal All Natural Lands 42,907 14,309 $557,162,611 Total 100,842 20,103 $594,704,715
1. Enhancement criteria derived from the SJMSCP, Section 5.4.6.
5. Estimated based on the weighted average cost for all other non-vernal pool natural lands.
Sources: Table A.1, SJCOG, Inc., ICF, and Willdan Financial Services.
3. The enhancement cost applies to the acres where construction and/or installation actually takes place. In the case of hedgerows or other linear features, this is only the relatively small area of activity, not the total area that is thereby enhanced. Enhancement cost includes costs for materials, construction labor, and equipment. In addition to the installation activity, the cost per enhanced acre also includes a cost for project oversight and contract adminstration and three years of maintenance and monitoring. For vernal pool wetted restoration, the cost includes 5 monitoring years during a 10 year post-restoration monitoring period.
4. For agricultural habitat lands, a SJMSCP describes a broad range of enhancement activities and a generalized target of 10 percent enhancement; providing benefits to species without substantially reducing the amount of agricultural land in production. This can be achieved by implementing the linear features described in footnote 2. Pollinator hedgerows or similar linear features enhance the entire field that they are associated with, thereby counting toward the 10 percent enhancement criteria while taking substantially less land out of production.
2. Unlike most other habitat types, agricultural lands are enhanced by treating linear features that run along the edge of or through fields--features such as roads or drainage ditches. In these cases, the land area of direct enhancement activity is substantially less than that area benefiting from the enhancement. This has the advantage of minimizing impacts to agricultural land production. Installing pollinator hedgerows at the edges of fields and grassland borders along irrigation and drainage ditches, and planting nest trees and associated shrubs and grasses, are enhancements used in the cost analysis to represent the range of types of agricultural land enhancements outlined in the SJMSCP. In addition to benefits to species, these linear features offer benefits of preventing soil erosion and reducing costs for weed control and linear water conveyance infrastructure maintenance.
They also enhance the entire field they are associated with, meeting the 10 percent enhancement criterion while also minimizing loss of productive agricultural land. The enhancement cost estimate for agricultural lands is therefore based on the acres of hedgerow or other linear feature multiplied by the cost per acre to install hedgerows and similar linear features.
SJMSCP Preserve land by habitat type, enhancement analysis, and enhancement cost per preserve acre (2025 dollars)
ATTACHMENT A
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TABLE B.2
2025 Five-Year Economic Analysis and Fee Update
SJMSCP Fee Update - 2025 (for 2026 SJMSCP Development Fee Cycle) Category B Assessment, Planning, Restoration and Enhancement Cost Factors (2025 dollars) Remainder of Permit Term
2024 Update
Assumptions
Percent
Difference
Remaining years in permit term 25 used in formulae below to calculate costs for the remainder of the permit term Biological Site Assessment
Number of site visits per year 8 Assumes 6 hours per visit. Average of 6 per year since 2020.
Annual cost $8,400 $7,755 8.3%
Total Site Assessment cost remainder of permit term $210,000 $217,143 -3.3% Preserve Management Plan Preparation
Number of management plans per year 6 Assumes 30 hours per plan Annual cost $31,500 $77,548 -59.4%
Total Preserve Management Plan cost remainder of permit term$787,500 $2,171,340 -63.7% Preserve Enhancement Plan Preparation
Average cost per enhancement plan $4,200 assumes 24 hours per plan for each enhancement project $4,524 -7.2% Average acres per project 346 240 44.2% Average cost per preserve acre $12 $19 -36.8%
Preserve Enhancements on Agricultural Lands
Enhancement cost per preserve acre $648 from Table B1 $1,106 -41.4% Preserve Enhancements on Non-Vernal Pool Natural Lands
Enhancement cost per preserve acre $15,417 from Table B1 $13,823 11.5% Vernal Pool Creation/Enhancement
Enhancement cost per preserve acre $42,741 from Table B1 $40,209 6.3% Vernal Pool Upland Grassland Enhancement
Enhancement cost per preserve acre $5,152 from Table B1 $4,847 6.3% Sources: SJCOG, Inc., ICF, and Willdan Financial Services.
Cost per Hour 175
ATTACHMENT A
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TABLE B.3
2025 Five-Year Economic Analysis and Fee Update
SJMSCP Fee Update - 2025 (for 2026 SJMSCP Development Fee Cycle) Category B Assessment, Planning, Restoration and Enhancement (2025 dollars) Cost Allocation by Habitat Type
Remainder of Permit Term
Cost per acre multiplied
by preserve acres
remaining to be acquired
Preserves by Habitat Type
Acres
Remaining to
be Acquired1
Percent
of Total
Biological Site
Assessment
Preserve
Management Plans
Preserve Enhancement
Plans
Preserve
Enhancements
Vernal Pool
Restoration
Agricultural lands 35,651.31 47% $97,794 $366,727 $427,816 $23,102,187 na Non-vernal pool natural lands 23,069.63 30% 63,282 237,306 276,836 $355,675,241 na Vernal pool grasslands 15,720.66 21% 43,123 161,711 188,648 $80,992,897 na Vernal pool wetted 2,115.00 3% 5,802 21,756 25,380 na $90,396,593 76,556.60 100% $210,000 $787,500 $918,680 $459,770,325 $90,396,593
1. Includes 600 acres of neighboring lands preserves.
Sources: SJCOG, Inc., SJMSCP 2024 Annual Report, ICF, and Willdan Financial Services.
Costs - Remainder of Permit Term
Cost per acre multiplied by
preserve acres remaining to
be acquired
Total cost allocated by preserve type
percent of total preserve acres
remaining to be acquired
ATTACHMENT A
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TABLE B.4
2025 Five-Year Economic Analysis and Fee Update
SJMSCP Fee Update - 2025 (for 2026 SJMSCP Development Fee Cycle) Category B Assessment, Planning, Restoration and Enhancement Fee Calculations (2025 dollars)
Remainder of Permit Term 2024 Results (Percent Change shown under each fee) Habitat Type
Biological
Site
Assessment
Preserve
Management
Plans
Preserve
Enhancement
Plans
Agricultural and
Non VP Natural
Land
Enhancement
Total for
Agricultural and
Non VP Natural
Land (incl.
assessment and plans)
Vernal Pool
Restoration /
Enhancement
Total for
Vernal Pool
(incl. assessment
and plans)
Agricultural and
Non VP Natural
Land
Enhancement
Total for
Agricultural and
Non VP Natural
Land (incl.
assessment and
plans)
Vernal Pool
Restoration /
Enhancement
Total for Vernal
Pool (incl.
assessment and
plans)
Costs associated with non-vernal pool natural/agricultural lands conversion $161,076 $604,033 $704,652 $378,777,428 $380,247,189 Natural (non vernal pool)/Agricultural land conversion (acres), remaining 44,732.77 44,732.77 44,732.77 44,732.77 44,732.77 Multi-purpose open space conversion (acres), remaining 1 33,500.48 33,500.48 33,500.48 33,500.48 33,500.48 Multiplier for natural/agricultural land conversion 1 1 1 1 1 Multiplier for multi-purpose open space conversion 1 0.5 0.5 0.5 0.5 0.5 Assessment & Enhancement Component of Natural (non-vernal pool)/Agricultural Lands Fee $3 $10 $11 $6,161 $6,185 $6,018 $6,066
2% 2%
Assessment & Enhancement Component of Multi-Purpose Open Space Fee1 $2 $5 $6 $3,081 $3,093 $3,009 $3,033 2% 2%
Costs associated with vernal pool grasslands $43,123 $161,711 $188,648 $80,992,897 $81,386,379 Vernal pool grassland conversion (acres), remaining 5,162.74 5,162.74 5,162.74 5,162.74 5,162.7 Assessment & Enhancement Component of Vernal Pool Grasslands Fee $8 $31 $37 $15,688 $15,764 $15,235 $15,386 3% 2%
Costs associated with vernal pool wetted $5,802 $21,756 $25,380 $90,396,593 $90,449,531 Vernal pool wetted conversion (acres), remaining 706.75 706.75 706.75 706.75 706.8 Assessment & Enhancement Component of Vernal Pool Wetted Fee $8 $31 $36 $127,905 $127,980 $126,880 $127,031 1% 1%
Sources: SJCOG, Inc., SJMSCP 2024 Annual Report, ICF, and Willdan Financial Services.
1. As described in SJMSCP Section 7.4.1.2, the fee calculation allocates the costs associated with agricultural habitat and non-vernal pool natural lands preserves to conversion of both those high value lands (agricultural land and non-vernal pool natural land) and lower value multi-purpose open space. In other words, the SJMSCP does not enhance multi-purpose open space lands but allocates some of the costs of enhancements on agricultural and natural lands preserves to the conversion of multi-purpose open space lands to assist with the financing of those enhancements.
ATTACHMENT A
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TABLE C.1
2025 Five-Year Economic Analysis and Fee Update
SJMSCP Fee Update - 2025 (for 2026 SJMSCP Development Fee Cycle) Category C (part)
Compliance and Effectiveness Monitoring Cost Assumptions (2025 dollars) Remainder of Permit Term (for all preserve acres)
2021 5-Year
Update
Assumption
Percent
Difference
Remaining years in permit term 25
Compliance Monitoring
Annual cost per acre, including reporting $4.26 Based on actual costs 2020 - 2024 Total Compliance Monitoring Cost - Remainder of Permit Term $6,929,556 all acres 7,546,528 -8.2% Ongoing Maintenance Cost
Percent of acres enhanced that need maintenance annually 1.21% Assumption from ICF Cost per Acre of Maintenance $1,214
Lower Sacramento- Annual Maintenance Cost $29,307 Based on 3-year contract cost from Triangle, per ICF Total Ongiong Maintenance Cost - Remainder of Permit Term $24,627,279 all acres New Cost N/A Effectiveness Monitoring, including reporting
Habitat Mapping
Annual cost for Entire Plan $19,200 Satellite Imagery
Total habitat mapping cost - remainder of permit term $480,000 6,393,100 -92.5% Swainson's Hawk Monitoring
Annual cost per acre $6.62 assume annual surveys
Total Swainson's hawk monitoring cost - remainder of permit term $9,018,956 in all but Southwest Zone 9,755,235 -7.5% Vernal Pool Monitoring
Annual cost per acre $4.32
annualized per acre assuming
every 5 years
Total vernal pool monitoring cost - remainder of permit term $4,881,896 in Vernal Pool Zone and Central
ZoneVernal Pool Preserves 7,808,411 -37.5%
Burrowing Owl Monitoring
Cost per survey year, all preserves $21,760
Total burrowing owl monitoring cost - remainder of permit term $181,333 assume every 3 years 253,167 -28.4% Fall Crane Monitoring
Cost per survey year, all preserves $37,120
Total fall crane monitoring cost - remainder of permit term $185,600 assume every 5 years 81,840 126.8% Riparian Brush Rabbit Monitoring
Cost per survey year, all preserves $30,720
Total fall crane monitoring cost - remainder of permit term $76,800 assume every 10 years 45,880 67.4% Southwest Grasslands Monitoring
Covered plant survey cost per acre per year $0.59
San Joaquin kit fox survey cost per acre per year $0.44 Total Southwest grasslands monitoring cost - remainder of permit term $272,205 Southwest Zone only 521,519 -47.8% Effectiveness Monitoring Cost - Remainder of Permit Term $15,096,790 24,859,151 -39.3% Sources: SJCOG, Inc. and SJMSCP 2024 Annual Report, ICF, and Willdan Financial Services.
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TABLE C.2
2025 Five-Year Economic Analysis and Fee Update
SJMSCP Fee Update - 2025 (for 2026 SJMSCP Development Fee Cycle) Category C (part)
Project Management & Administration Cost Assumptions (2025 dollars) 2021 5-Year
Update
Assumption
Percent
Difference
Remainder of Permit Term
Remaining years in permit term 25
Project Management & Administration cost
Total annual project management & administrative staff cost $1,465,372 3 FTE: salaries, benefits, OH. 3rd FTE based on average of assistant and associate habitat planner costs Legal and other direct costs $79,130 5.4% % of cumulative total to 12/31/2024, per expense analysis Total annual project management & administration cost $1,544,503 969,840 59.3% Total Project Management & Administration cost remainder of permit term $38,612,564 30,065,040 28.4% Allocation to Project Management & Administration, based on allocation of actual costs to 12/31/2024 Project management cost allocation $33,206,805 86% $10,462,626Cumulative total actual through 12/31/2024 Administration cost allocation $5,405,759 14% $1,635,692Cumulative total actual through 12/31/2024 Habitat Plan Environmental Consulting
Annual cost for consulting services $301,000 estimate based on last four years expenditures (2021 - 2024) 291,000 3.4% Total Habitat Plan Environmental Consulting remainder of permit term $7,525,000 9,021,000 -16.6% Land Manager Coordination/Oversight
Annual cost $4,400 average cost for HTAC meetings and support 6,600 -33.3% Total Land Manager Coordination/Oversight cost remainder of permit term $110,000 204,600 -46.2% Financial Plan 5-Year Review and Update
Number of five-year updates for remainder of the permit term 5 Consultant contract, every 5 years $150,000 cost per contract 85,000 76.5% Legal review, every 5 years $16,000 16,000 0.0% Total Financial Plan 5-Year Review and Update cost remainder of permit term $830,000 606,000 37.0% Sources: SJCOG, Inc. and SJMSCP Annual Reports (2021 - 2024), ICF, and Willdan Financial Services.
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TABLE C.3
2025 Five-Year Economic Analysis and Fee Update
SJMSCP Fee Update - 2025 (for 2026 SJMSCP Development Fee Cycle) Category C Permit Term Costs (2025 dollars)
Adjustments for Remaining Fund Balance
Cost Category
Total Cost -
Remainder of
Permit Term
Compliance Monitoring $6,929,556
Ongoing Maintenance 24,627,279
Effectiveness Monitoring, including reporting 15,096,790 Project Management 33,206,805
Administration 5,405,759
Habitat Plan Environmental Consulting 7,525,000
Land Manager Coordination/Oversight 110,000
Financial Plan 5-Year Review and Update 830,000
Total $93,731,188
Category C Fund Balance as of 12/31/2024 for costs on existing preserves ($62,126,317) Net cost for remainder of the permit term $31,604,871
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Table C.4 Inflation 2.30%
2025 Five-Year Economic Analysis and Fee Update Investment Management Fees 1.00% SJMSCP Fee Update - 2025 (for 2026 SJMSCP Development Fee Cycle) Real Return On Investments 3.66% SJMSCP Endowment Fund Cash Flow (2025 Dollars) Total Nominal Return On Investments 6.96% Calendar Year 2026 2027 2028
26 27 28
Cat. C Post-Permit Endowment Contribution $611,072 $611,072 $611,072 Investment Earnings 1 $221,119 $251,577 $283,150
Total Revenue $832,191 $862,649 $894,222
Beginning Fund Balance $5,735,965 NA NA
Closing Fund Balance $6,568,156 $7,430,806 $8,325,028
Calendar Year 2029 2030 2031 2032 2033 2034 2035 2036
29 30 31 32 33 34 35 36
Cat. C Post-Permit Endowment Contribution $611,072 $611,072 $611,072 $611,072 $611,072 $611,072 $611,072 $611,072 Investment Earnings 1 $315,879 $349,805 $384,973 $421,428 $459,218 $498,391 $538,997 $581,089 Total Revenue $926,951 $960,877 $996,045 $1,032,500 $1,070,290 $1,109,463 $1,150,069 $1,192,161 Closing Fund Balance $9,251,979 $10,212,856 $11,208,901 $12,241,401 $13,311,691 $14,421,154 $15,571,223 $16,763,384 Calendar Year 2037 2038 2039 2040 2041 2042 2043 2044
37 38 39 40 41 42 43 44
Cat. C Post-Permit Endowment Contribution $611,072 $611,072 $611,072 $611,072 $611,072 $611,072 $611,072 $611,072 Investment Earnings 1 $624,722 $669,953 $716,838 $765,440 $815,820 $868,044 $922,180 $978,297 Total Revenue $1,235,795 $1,281,025 $1,327,910 $1,376,512 $1,426,892 $1,479,116 $1,533,252 $1,589,369 Closing Fund Balance $17,999,179 $19,280,203 $20,608,113 $21,984,625 $23,411,517 $24,890,633 $26,423,885 $28,013,254 Calendar Year 2045 2046 2047 2048 2049 2050 Total Ongoing 45 46 47 48 49 50 Year 26 - 50 51+
Cat. C Post-Permit Endowment Contribution $611,072 $611,072 $611,072 $611,072 $611,072 $611,072 $15,276,801 $0 Investment Earnings 1 $1,036,468 $1,096,768 $1,159,275 $1,224,069 $1,291,235 $1,360,860 $17,835,594 $1,421,850 Total Revenue $1,647,540 $1,707,840 $1,770,347 $1,835,141 $1,902,308 $1,971,932 $33,112,395 $1,421,850 Net Post-Permit Costs NA NA NA NA NA NA NA $1,421,850
Net Cash Flow $1,647,540 $1,707,840 $1,770,347 $1,835,141 $1,902,308 $1,971,932 $33,112,395 $0 Closing Fund Balance $29,660,794 $31,368,633 $33,138,980 $34,974,121 $36,876,429 $38,848,361 $38,848,361 $38,848,361
1. Investment Earnings = (Prior Year Closing Fund Balance + (Annual Fee Revenue / 2) x (Real Return On Investments).
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TABLE C.5
2025 Five-Year Economic Analysis and Fee Update
SJMSCP Fee Update - 2025 (for 2026 SJMSCP Development Fee Cycle) Category C Monitoring and Program Management/Administration, including endowment for post-permit costs (2025 dollars) Cost Allocation by Habitat Type
Preserves by Habitat Type
Total Preserve
Acres1
Percent of
Total
Remainder of
Permit Term Post permit Total
Non-vernal Pool Natural/Ag lands 82,910 82% $25,984,807 $12,560,239 $38,545,046 Vernal pool grasslands 15,811 16% 4,955,322 2,395,247 $7,350,569 Vernal pool wetted 2,121 2% 664,742 321,315 $986,057 100,842 100% $31,604,871 $15,276,801 $46,881,672 Note: Net of existing fund balance allocated to Category C permit-term and post-permit costs.
1. includes 600 acres of neighboring lands preserves.
Sources: SJCOG, Inc. and SJMSCP 2024 Annual Report, ICF, Willdan Financial Services.
ATTACHMENT A
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TABLE C.6
2025 Five-Year Economic Analysis and Fee Update
SJMSCP Fee Update - 2025 (for 2026 SJMSCP Development Fee Cycle) Category C Monitoring and Program Management/Administration, including endowment for post-permit costs Fee Calculations (2025 dollars) 2024 Results
Habitat Type
Remainder of
Permit Term Post permit Total
Post
Permit
Share of
Total Total % Chage
Costs associated with non-vernal pool natural/agricultural lands conversion $25,984,807 $12,560,239 $38,545,046 Non-vernal pool Natural/Agricultural land conversion (acres) , remaining 44,732.77 44,732.77 44,732.77 Multi-purpose open space conversion (acres), remaining 1 33,500.48 33,500.48 33,500.48 Multiplier for natural/agricultural land conversion 1 1 1 Multiplier for multi-purpose open space conversion 1 0.5 0.5 0.5 Monitoring & Administration Component of Natural (non-vernal pool)/Agricultural Lands Fee $423 $204 $627 33% $681 -8% Monitoring & Administration Component of Multi-Purpose Open Space Fee1 $212 $102 $314 32% $341 -8% Costs associated with vernal pool grasslands $4,955,322 $2,395,247 $7,350,569 Vernal pool grassland conversion (acres), remaining 5,162.74 5,162.74 5,162.74 Monitoring & Administration Component of Vernal Pool Grasslands Fee $960 $464 $1,424 33% $1,682 -15% Costs associated with vernal pool wetted $664,742 $321,315 $986,057 Vernal pool wetted conversion (acres), remaining 706.75 706.75 706.75 Monitoring & Administration Component of Vernal Pool Wetted Fee $941 $455 $1,395 33% $1,649 -15% Note: Net of existing fund balance allocated to Category C permit-term and post-permit costs.
Sources: SJCOG, Inc., SJMSCP 2024 Annual Report, ICF, and Willdan Financial Services.
1. The fee calculation allocates the costs associated with agricultural habitat and non-vernal pool natural lands preserves to conversion of both those high value lands (agricultural land and non-vernal pool natural land) and lower value multi-purpose open space, thereby assisting with the financing of management and monitoring on agricultural and natural lands preserves.
ATTACHMENT A