ATTACHMENT A
Macerich Development
Agreement Original Charts
The chart below summarizes the trend line of gross sales at the Mall and the projected downward trend had the City Council chose not to assist. For comparison purposes, had the City chosen not to assist in the redevelopment of the Mall, the Mall was projected in 2014 to realize $88.28 million in gross sales which would have yielded an estimated $882,800 in City sales tax revenue.
Erosion of Sales Tax
$200,000,000
$50.72 million
$0
The chart provided below was then used to help illustrate, based on Macerich projections, what the sales tax sharing could look like over the next 20 years, though pursuant to the Development Agreement, the Mall is permitted to receive the tier one maximum amount until the $18.89 million threshold is reached.
Sales Tax Increment Sharing
Tier One Maximum Amount
Base Sales Tax Revenues
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$0
Projections
total
$18,886,644
over term of
agreement
$180,000,000
$175 million Actual Sales
Projected Sales
$160,000,000 Linear (Projected Sales)
$140,000,000
$88.28 million
$120,000,000
$100,000,000
$80,000,000
$60,000,000
$40,000,000
$20,000,000
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027