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2022-050 - Resolution
RESOLUTION NO. 2022-050 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO CUCAMONGA, CALIFORNIA, APPROVING THE INFRASTRUCTURE FINANCING PLAN FOR THE RANCHO CUCAMONGA ENHANCED INFRASTRUCTURE FINANCING DISTRICT AND THE ALLOCATION OF THE CITY'S INCREMENTAL PROPERTY TAX REVENUE WITHIN THE RANCHO CUCAMONGA . ENHANCED INFRASTRUCTURE FINANCING DISTRICT PURSUANT TO GOVERNMENT CODE SECTIONS 53398.68 AND 53398.75 WHEREAS, the California Legislature enacted California Government Code sections 53398.50 through 53398.88 ("EIFD Law") authorizing cities and counties to form enhanced infrastructure financing districts within defined areas and use incremental property tax revenue generated from the growth in property taxes collected from within such districts to finance certain infrastructure and community benefit projects; and WHEREAS, in enacting the EIFD Law, the California Legislature found and determined that with the dissolution of redevelopment agencies, public benefits will accrue if local agencies are provided a means to finance certain public infrastructure and community benefit projects authorized under the EIFD Law; and WHEREAS, on February 16, 2022, the City Council of the City of Rancho Cucamonga ("City Council") adopted Resolution No. 2022-029 ("Resolution of Intention"), which initiated the process to establish the Rancho Cucamonga Enhanced Infrastructure Financing District("Rancho Cucamonga EIFD") pursuant to EIFD Law; and WHEREAS, pursuant to the Resolution of Intention, the City Council found that the Rancho Cucamonga EIFD is necessary for the area within the boundaries of the Rancho Cucamonga EIFD and the City of Rancho Cucamonga ("City") and declared that, pursuant to the EIFD Law, if approved by resolution pursuant to Government Code Section 53398.68, incremental property tax revenue from the City within the Rancho Cucamonga EIFD may be used to finance the activities described in the Resolution of Intention; and WHEREAS, pursuant to the Resolution of Intention, the City Council established the Rancho Cucamonga EIFD Public Financing Authority ("PFA") to serve as the governing board of the Rancho Cucamonga ElFD; and WHEREAS, on March 8, 2022, pursuant to Government Code Section 53398.63, the PFA directed the Executive Director of the PFA to prepare a draft Infrastructure Financing Plan ("IFP") for the Rancho Cucamonga EIFD, which IFP is attached hereto as"Exhibit A" and is available for inspection at Rancho Cucamonga City Hall, 10500 Civic Center Drive, Rancho Cucamonga, CA, 91730; and Resolution No. 2022-050- Page 1 of 3 WHEREAS, the IFP, among other things, includes a description of the public facilities to be financed by the Rancho Cucamonga EIFD and a financing section that includes, among other things, a specification of the maximum portion of the incremental tax revenue of the City and of the Rancho Cucamonga Fire Protection District ("District") proposed to be committed to the Rancho Cucamonga EIFD for each year during which the Rancho Cucamonga EIFD will receive incremental tax revenue, and a projection of the amount of tax revenues expected to be received by the Rancho Cucamonga EIFD in each year during which the Rancho Cucamonga EIFD will receive tax revenues, including an estimate of the amount of tax revenues attributable to the City and to the District for each year; and WHEREAS, on April 13, 2022, pursuant to Government Code Section 53398.63, the Planning Commission of the City of Rancho Cucamonga adopted Resolution No. 22-08, finding that the facilities to be financed pursuant to the IFP are consistent with the Rancho Cucamonga General Plan; and WHEREAS, on April 5, 2022, the PFA held a public meeting to present the IFP and on May 10, 2022, the PFA held a public hearing to consider oral and written comments to the IFP; and WHEREAS,the City Council now desires to adopt this Resolution pursuant to Government Code Section 53398.68 to approve the IFP, substantially in the form prepared by the Executive Director of the PFA, including the allocation of incremental tax revenue of the City in accordance with Government Code Section 53398.75 as set forth in the IFP; NOW,THEREFORE,the City Council of the City of Rancho Cucamonga does hereby find, determine, conclude and resolve as follows: Section 1. The facts set forth in the Recitals of this Resolution are true and correct. Section 2. The City Council hereby approves the IFP for the Rancho Cucamonga EIFD substantially in the form presented to the City Council and attached hereto as "Exhibit A", including, but not limited to, the specification of the maximum portion of the incremental tax revenue of the City to be committed to the Rancho Cucamonga EIFD for each year during which the Rancho Cucamonga EIFD will receive incremental tax revenue. Section 3. The City Manager, or designee, are hereby authorized and directed to take all actions necessary or advisable to give effect to the transactions contemplated by this Resolution. Section 4. This Resolution shall take effect immediately upon its adoption by the City Council and the City Clerk shall cause a copy thereof to be forwarded to the PFA. Section 5. The City Clerk of the City of Rancho Cucamonga shall certify to the adoption of this Resolution. Resolution No. 2022-050- Page 2 of 3 • • • PASSED,APPROVED, and ADOPTED this 18th day of May, 2022. ; / L. nis ich eI, Ma , ATTEST: tom. ice C. Reynolds, City Jerk STATE OF CALIFORNIA ) COUNTY OF SAN BERNARDINO ) ss CITY OF RANCHO CUCAMONGA ) I, Janice C. Reynolds, City Clerk of the City of Rancho Cucamonga, do hereby certify that the foregoing Resolution was duly passed, approved, and adopted by the City Council of the City of Rancho Cucamonga, at a Regular Meeting of said Council held on the 18th day of May 2022. AYES: Hutchison, Kennedy, Michael, Scott NOES: None ABSENT: None ABSTAINED: None Executed this 19th day of May, 2022, at Rancho Cucamonga, California. nice C. Reynolds, C Clerk Resolution No. 2022-050- Page 3 of 3 • • Exhibit A Infrastructure Financing Plan of the Rancho Cucamonga Enhanced Infrastructure Financing District 11232-000112659908v1.doc • CITY OF RANCHO CUCAMONGA ENHANCED INFRASTRUCTURE FINANCING. DISTRICT 0 C. ID 0 INFRASTRUCTURE❑FINANCING PLAN a °: .❑ ❑ ° ❑ ❑ ❑ n ❑ •c U ❑ ❑ a u c °❑a 0 Prepared For: 0 0 ° ❑ a ❑ ❑°I The City of RanchoCucamonga ° 6 ❑ a CI CI 0 ❑ d • 12 G ❑ c ❑ r r ❑ 0 ❑ •r ❑ 4 0 P 1 0 ❑ c ❑'❑° m ❑CIc a .r _ ❑ ❑❑ tr.rf CITY OF • ❑ ❑ a RANcHo . Ds ° ° 0 ° ° ° ° ` CUCAMONGA CI V n ❑ n F ❑ ❑ 0 0 n 0 .r m 'P ° 0 Prepared By: CI A B c n ♦ in .e ❑. n < ❑ ❑ ❑ G ❑ n n ❑ ❑ n ❑ V, n ❑ U n Y A. • ❑❑° ❑°n kosmon �t, P ° ❑ Cl ❑ ❑ ❑ ❑' ❑ a ❑ ❑ ❑ • ❑ ❑ • • APRIL 2022 • Rancho Cucamonga EIFD Proposed Infrastructure Financing Plan April 2022 Page 2 Table of Contents Section Page 1.0 Introduction 3 2.0 Description of the Proposed District ' a 7 DI a 3.0 Description of Proposed Facilities and Development a 8 a CI 6 4.0 Finding of Communitywide Significance n 0 12 . a 5.0 Financing Section 13 e a • a 16 6.0 Removal of Dwelling Units and Replacementtiousing Plan 0 4 18 a 16 r 4 7.0 Goals of the District a - - a 6 r 0 4 19 a N n 8.0 Appendices N 0 20 c a 0 16 a Q a 0 Index of Appendices 0 0 1:1 Appendix A: Map of Boundaries of the Rancho Cdcdrribmga EIFQ r(draft/placeholder) Appendix B: Legal Description of the Ranchq Cucarrjonga0Fp (draft/placeholder) Appendix C: Projected Tax. Inare'rnent Reventh Anblysis A 0 0 Appendix D: Fiscal Impact Analysis Appendix E: City General Plan Envifonmental Impact Report El El CI Ed el dl _ 6 Es es CI 0 a ES 0 Darin 00 TS c a a a 0 LI Ct Ss 0 0 a 0 0 0 TS 0 0 a a El 0 0 C r+ D D a Ed El ES L5 1.1 Li a 0 Ze a 0 ES 0 0. ID a r 0 5 0 r 0 El r r The analyses,projections,a ssumptiow,rates of return,and any examples presented her=are for lilt ratite purposes aixf are hot a guarantee of actual andrOr future reSUllS.PrOject pro forma and kin tart analyses am projections only.Actual results maydiffer from those expressed in this analysis. ost9p . voll.rl 1601 tr.Sepulveda Slvd.#382,Manhattan Beach,CA 90266 I (424)207-1070 I wor.v.kosamontcorn • • • • Rancho Cucamonga EIFD • • Proposed Infrastructure Financing Plan • April 2022 Page 3 • • • 1 .0 Introduction 1.1 Background & Purpose • - Background. Pursuant to its Resolution No. 2022-029, which was adopted by the City Council of • the City of Rancho Cucamonga on February 16, 2022 (the "Resolution Of Intention") and Part 1 of Division 2 of Title 5 of the California Government Code (the "EIFD=Law"), the City Council of the City of Rancho Cucamonga (the "City") declared its intention to establish the Rancho Cucamonga Enhanced Infrastructure Financing District.("Rancho"Cucamonga EIFD"or"District"). Pursuant to the same Resolution No. 2022-029, which was adopted.by the City Council on February 16, 2022, the City Council of the City established1the "Rancho Cucamonga EIFD Public Financing Authority" ("PFA") as the governing body of th'e Rancho Cucamonga,EIFD. Pursuant to its Resolution No. FD 2022-003, which,was adopted'by the Board of Directors of the Rancho Cucamonga Fire Protection District on February•16s ,o. Q 222 and the EIFD Law, the Rancho • c Cucamonga Fire Protection District ("Fire District") derclarerd its intention' to participate in the¢ Rancho Cucamonga EIFD and newly formed,PFA. a 1 la Is ❑ a b. • a L a . ❑ ❑ C ❑ P. At its inaugural meeting on March 8, 2022, the PFA❑directed its Executive Director, who is the City Manager of the City, �to;uprepare an infrastructure❑firancingaplan ("IFP") for the Rancho CO Q 2 L C ¢ ❑ Cucamonga El FD., ❑ ❑ a' ❑ a o ❑ a ❑ a a a c o• e a ❑ Purpose of the Rancho Cucamonga EIFD. The'Rancho Cucamonga EIFD is intended to serve as a catalyst for private sector investment and critical public infrastructure with transformative potential for the Rancho Cucamonga EIFD area and the City as a whole.The Rancho Cucamonga EIFD epfcoinpasses,approximateiy 1,500 acres of land; representing approximately 6.0% of the total approximately 25,67,7 acres in the City limits.The Rancho Cucamonga.EIFD includes various non-contiguous;largely undeveloped or underdeveloped parcels with significant.potential for new • development and/or rehabilitation. These areas were chosen.based on their capacity to benefit .. from catalytic`infrastructure improvements with communitywide significance and regional benefit. c ❑ • 1.2 Contents and❑Overview of this Infrastructure Financing Plan ("IFP") Pursuant to Government Code Sections 53398.59 through 53398.74, this IFP includes the following information: a) A map and legal description of the District, included herein as Appendix:A and Appendix • • B, respectively. • • The analyses,projections,assumpfioris,rates of retum,and any examples presented herein are for • • • • ilIustralive purposes sad ale not a guarantee of actual andror future results:Project pro forma and • tax analyses are projection only.Actual results maydfer from those expressed in this analysis_ • kosmo� v0,4.1t4 1601 N.Septilveria Btivf.032,Manhattan Mach;CA 902E6 I (424)297-ton'I aWe.Fcos?rontcoam • • • • Rancho Cucamonga EIFD • • Proposed Infrastructure Financing Plan April 2022 Page 4 b) A description of the public facilities and other forms of development or financial assistance that is proposed in the area of the District, including those to be provided by the private sector,those to be provided by governmental entities without assistance from the District, those public improvements and facilities to be financed with assistance from the proposed District, and those to be provided jointly: The description includes the proposed location, timing, and costs of the development and financial assistance. This information is included in Section 3 of this IFP. s . L o c) A finding that the development and financial assistance are of communitywide • significance and provide significant benefits to an areaJarger than the area of the District. This information is included in Section 4 of this IFP.a. °° .°° • ° d) A financing section, (included in Section 5 of this'IFP), which contains all of the following information: ° <• ° • 1) A specification of the maximum portion of the incremental tax revenue of the City and Fire District proposed to be corrtmitted to rthe District for eachyear during which the District will receive incremental_tag revenue. The portion may change over time. Section 5.1 and®Table 3 of thisdFpadetails the maximum portion of the incremental property tax°revenue of the City,and Fire District proposed to be committed to the District through.out-the duration`of the District lifetime, which is ¢ s projected to be forty-five (45).years frornAhe date on Which the issuance of bonds . . is approvedebythe PFA. In summar%'the maximum portion of the City's property • tax increment is .:100% for Inifiar years following formation of the District, ® ° O decreaping in a gradual manner So.approximately 9% at District termination. The maxirfium portion of`the Fire District's property:tax increment is- 80% for initial • v n v ° ta 1 ° years following°formation' of`the District, decreasing in a gradual manner to �°:°a pproximately¢5% at District ter"mination.:The proposed contribution scenario is 6°-a® intended to focus on funding debt service for bonds issued approximately four to ° ° six year ¢following• District formation, as well as maintenance of funded infrastructureimprovements. . o n c °2) mA projection of the amount of tax revenues expected to be received by the District • - °•.in¢each year°during which the District will receive tax revenues. Section 5.2 and • ° ° Tal�le,3 of°th:is IFP includes a projection of tax revenues to be received by the • District°.bjrryear over the course of the District's lifetime, as described in the • b .P previous'paragraph.•These projections are based on research.and analysis of available data at the time of IFP preparation for purposes of illustration. Actual results may differ from those expressed in this,document. Appendix C provides additional detail for the projected revenue analysis. See paragraph 5 below for the Rancho Cucamonga EIFD termination date. • • • - • The aiolyses,projections,assumptions,rates of return,and any criimples presented hercar ore fat - • illustrative ptases and ale not a guerantee of actual andror future+results:Project pro forma and tax analyses arc.projections only.Actual results may.dilfcr fromtliose expressadin this analyses. - kosmon onn{znk4 t001 N.Sepulveda Bht.#362,Manhattan Boach,CA 902&6 I (424)287-1070 I Fr er.€cesrrronLcola • • Rancho Cucamonga EIFD Proposed Infrastructure Financing Plan April 2022 Page 5 3) A plan for financing the public facilities to be assisted by the District, including a detailed description of any intention to incur debt. Section 5.4 of this IFP includes a plan for financing the public facilities to be assisted by the District. The PFA intends to incur debt only when it is financially prudent to do so. It is estimated at this time that the Rancho Cucamonga EIFD will provide funding for approximately $100 million (in present value dollars) of public improvement costs from a combination of tax increment bond or loan proceeds (multiple issuances may be necessary) and pay-as-you-go tax increment funding over the District lifetime. ❑ ❑ 4) A limit on the total number of dollars of taxes that'may be allocated to the District pursuant to the plan. The total number of dollars.of taxes that may be allocated to 63 the District shall not exceed $500,000,000 in nominal doljar,s. • ❑ 5) A date on which the District will cease to exist, by which time'all tax allocation to the district will end. The date shall jiot'be more than 45 years'from the date on which the issuance of bonds isappr° ❑ ❑oved pursuant to subdivision4(a) of Section 53398.81, or the issuance of a loanisrapproved`by the governing board of a local agency pursuant to.Section 53398.87. tie bigtrict will cease to exist on the earlier of: (i) forty-five (45) yea$s gfrom the dare,bp which the issuance of bonds is approved by the PFA, or(ii) JUne,30, 2072. ThislFP assumes that the District will be formed in Fiscal Year 2021-202'24nd will begin,r'eceiving tax revenues in Fiscal a G A 0n . Year 2022-2023. ° .❑un ❑ L ❑ n c ❑ 6) An analysis of the'cdsts to the❑Citjr of providing facilities and services to the area of the District while the area is being developed and after the area is developed. The plan shall also,include an analysis of the tax, fee, charge, and other revenues expecteduto°be areceived..by the City°as a result of expected development in the n°o area of the'District. Appendix D,to this IFP includes, as part of the Fiscal Impact °.�Q Analysis, an analysis of the costs to the City for providing facilities and services to ❑ the area Lof,the District. Appendix D also includes an analysis of the tax, fee, ❑ ❑ charge, and,other revenues expected to be received by the City as a result of expected development in the area of the District. It is estimated that, at Year 20 • ° °of the District lifetime (assumed stabilized buildout of the District area), annual costs to the, City will be approximately $20.2 million and annual revenues are approximately $25.5 million. Additionally, annual costs to the Fire District at Year n n . 20 are estimated at $4.6 million and annual revenues are approximately $5.8 million. . . 7) An analysis of the projected fiscal impact of the District and the associated development upon the City and the Fire District. Appendix D to this IFP includes an analysis of the projected fiscal impact of the District and the associated development upon the City and the Fire District, as the only affected taxing entities that are contributing tax increment revenues to the District at this time. It is The analyses,projcctioris,assumptions,rates of return,and any,examples presented herein arc far illUStrplive purposes and are rota guarantee of actual andror future results.Project pro forma and tax anal ses arc projections only.Actual mulls maydfffer from tfiosr.expressed t is analp s_ kosinon t""'t°°'�� tfi01 N.Segicllucea Btu d.#362 Manhattan Scar h,CA 902F6 l42dj P97-1070 I mr s.ao r lontc in • .Rancho Cucamonga.EIED . Proposed Infrastructure Financing Plan April 2022 • Page 6 , , estimated that, at Year 20 of the District lifetime, the District area will generate an . annual net fiscal surplus of approximately $5.3 million to the City and an annual . • net fiscal surplus of approximately $1.2 million to the Fire District. •• • . 8) A plan for financing any potential costs that may be incurred by reimbursing a . developer of a project that is both located entirely within the boundaries of that • District and qualifies for the Transit Priority Project Program, pursuant to Section • 65470, including any permit and affordable housing expenses related to .the - project. At this time, the PFA does not intend to finance any potential costs that d ❑ may be incurred by reimbursing a developer®of r4, project that. is both located. entirely within the boundaries of the Districtt.anc qualifies for the Transit Priority Project Program, pursuant to Section 65470: ',°tl gm . ° • e) If any dwelling units within the territory of the:District are proposedi'to be removed or destroyed in the course Of public works°construction within the:area;-Fol.the district or ' • private development within the area of the°district that is'subject to a written agreement with the District or that is financed in whole or'in part,by`the District, a plan providing for replacement of those units and relocation of those'persons or families consistent with the ° . . requirements of Section 53398°56'.6The PFA does',n'ot anticipate that any housing units will be removed as a result of any,project Identified in this IFP. However, if any relocation tl . of dwelling units is deemed to be`required rni the future°fo„r a project financed by the • District, the PFA will-comply with®the requirements, or Government.Code Section 53398.56. . °❑tl 0 ❑ c a ° tl a . a a a v f) The goals the District proposes to achieye.for each project financed pursuant to Section 53398.52. Section 7 of thisa IFP summarizes the goals of each project to'be financed by the District. ❑ ❑ El ❑et° o tl ' tl ❑ —❑ tl O [l CI °' ❑ U L V + ❑ - ❑ ° a v a ° a v ❑ u ,t a 0 v . ❑ v .,a.... . • , 0 0 G ° C 0 tl 0 . • 0 I' . a v i .tl ° o v c ° a ° Q The ars�lyses,projatioc s assurrrptioris,rates of return,and any examples presented herein arc for • ill�arative p osrs aT ixvt a gusreniee of actual andrar Tulare results:Project pra forma aril • A -tax ana4�c.:cs are.projcctmns only.-Actual results may.diffcr fromthose expressed i i this analysts. . �COSIII0�1 1601 N.SeputvedaBtivl.#362,MAanhattan8each,CA902&6 I (424)297-t070 I'rsvr�.Kaw.nontcom • • Rancho Cucamonga EIFD Proposed Infrastructure Financing Plan April 2022 Page 7 2.0 Description of the Proposed District The Rancho Cucamonga EIFD encompasses approximately 1,500 acres of land, representing approximately 6.0% of the total approximately 25,677 acres within the City limits. The Rancho Cucamonga EIFD includes various non-contiguous, largely undeveloped or underdeveloped parcels with significant potential for new development and/or rehabilitation. These areas were chosen based on their capacity to benefit from catalytic infrastructure improvements with communitywide significance and regional benefit. n ❑ a Land use designations in the District primarily include residential, commercial / hotel / retail / office, industrial, and several public use parcels. Apppndix A include' map of the proposed District, and Appendix B is a legal description of the District. '• 1131 c e ❑ o L 0 ❑ CIC a L 6 • ❑ C. • ❑ a ❑ ❑ b ❑ ❑D La ❑ n ❑ ❑ t b. ❑ n ❑ ❑ a ❑ 0 ❑ . C E ' a ❑ ❑ L a C N ❑ ❑ ❑ DOD ` Cl ry 6 ❑ ❑ 0 ❑ ❑ ❑ `❑ I .II C b C ❑ a a n e ❑ e a _ v o hl a a o ❑ o. ❑ CI 0 12 ❑ ❑ C 0 Pt L7 Et 0 4 [ ❑ P^n ❑ L ❑ 0 r The analyses,projections,assumptions„rates of return,and any,examples presented heron arc far illustrative purposes and are not a guarantee of ado!andror future results.Project pro rarrna and tax analyses are projections-only.Actual results maydiffer from those expressed in this analyis_ lctisinoI ❑c, +6O1N.Svpulveoa Blvd.#3B2,Manhattan Beach,CA90266 l (424)297-tOVO j awricosrnontcwn • Rancho Cucamonga EIFD • Proposed Infrastructure Financing Plan April 2022 Page 8 • 3.0 Description of Proposed Facilities and Development 3.1 Anticipated Future Private Development Anticipated future private development within the Rancho Cucamonga`EIFD is summarized in ❑ ❑ Table 1 below, with greater detail provided in Appendix C. Buildout and absorption of these land uses are forecasted in the first 20 years of the District lifetime..°°°a". ❑ v n L ❑ i Table 1:Anticipated Future Private Development❑' . o Estimated AV at Development Type SF/ Units 9 AV Per SF/ Unit ° Buildout °3 °o (2022 Nominal °rt ° ° Value) For-sale Residential 1,514 units `$6t8;074.per unit $936 million o Rental Residential 10,253,units $31.,7,440.per unit $3.255billion Commercial/ Retail 922,009 SF°❑ $274 PSF $253 million Office 222,0008F .° $21.1 PSF $47 million Industrial • °❑°6,a272,400 SF ❑ _ $1❑7-2,PSF $1.079 billion Hotel ®" J7,1 rooms. ° $162,000 per room $28 million Estimated Total a° °° $5.597 billion Source: City of RanchoxCucamonga Planning and Economic Development Staff, CoStar Property(2022) 3.2 Public Facilities to be Financed with Assistance from the Rancho Cucamonga EIFD ❑ o °. p,. °❑° C Q . - The EIFD Law authorizes v e the Rancho Cucamonga EIFD to finance the purchase, construction, ❑ a expansion,.improvement, seismic retrofit, or rehabilitation of any real or other tangible property with an estimated useful life of 15 years or longer, if they are of communitywide significance and provide significant benefits to the Rancho Cucamonga EIFD or the surrounding community. ° 4 ❑ r The PFA intends to otilize'the District to fund infrastructure projects of communitywide significance that provide significant,benefits to the region over the District lifetime. :Table 2 identifies the targeted infrastructure improvements to receive EIFD funding over the District's:lifetime. The analysts,projections,assumplions,rates of return,and day examples presented hcreer are for illustrative purposes and are act a rgovranlee oT actual andrar future results:Project pro ronala a?d ' • • A fax analyses are.projecfions only.Actaaal results may differ from those expressed in this anatysis_ kosmon kou4cm"y 1601N.Scpuareda Bio..#3B2,Manhattan Heath:CA 902E. I (424)29T-1070 I:swT.kanuontcorm Rancho Cucamonga EIFD Proposed Infrastructure Financing Plan April 2022 Page 9 Table 2: Potential Priority Projects for Receipt of EIFD Funding PROJECT ESTIMATED ESTIMATED COST TIMING... Parking infrastructure and related improvements 1 between Haven Avenue and Day Creek Boulevard $20-40 million 2028-2032 along Foothill Corridor 2 Transportation Connectivity Improvements linking $40-60 million 2028-2032 Cucamonga Station and Haven /Arrow focus area a Estimated Total Priority Projects $60,1130'million Additional expenditures by the Rancho Cucamonga EIFD, including any use of potential future EIFD bond proceeds, will be subject to approval by the PFA" Eligible-expenditures in accordance with Government Code sections 53398.52 and 53398:56 include the purchase, construction, expansion, improvement, seismic retrofit, or rehabilitation of any real or other tangible property with an estimated useful life of 15 years or longer andcare projects of communitywide significance that provide significant benefits to the district' oo•the surrounding community.'The Rancho Cucamonga EIFD may also finance the ongoing or capitalized'costs to maintain public capital facilities financed in whole or in part by the Rancho Cucamonga EIFD. Facilities funded may be located outside the boundaries of the Rancho Cucamonga°EIFD, as long as they have a tangible 0 0 connection to the work of the Rancho Cucamonga EIFD. The Rancho Cucamonga EIFD will also finance planning and design activities that are-directly-related°to' the purchase, construction, expansion, or rehabilitation Gofythese projects"Projects,finanded by the Rancho Cucamonga EIFD may include, but not be limited to,°alI of the following: a a o a • Highways, interchanges, arid,ramps; r`Q Q • Bridges; 0 0". • Arterial streets; ° . a`9°Q`c`m ° ,L L L' ❑ C.� • ❑ w • Parking facilities, - - ® .0..n c n y Q' JrQ .. • ;Transit facilities;. . 4 o O •< `Parks, recreational facilities, and open space; . •' •'Sewage treatment and water reclamation plants and interceptor pipes; • c C e • Facilities for the collection and treatment of water for urban uses; • Facilities for the transfer and disposal of solid waste, including transfer stations and vehicles;. Q • Storm water conveyance and collection facilities; • Flood control levees and dams, retention basins, and drainage channels; • Child care facilities; • Libraries; . • Broadband and telecommunications infrastructure; . • Sidewalks and streetscape improvements; . • Bicycle lanes and paths; • Public art; . • The analyses,projections,assumptions,rates of return,and any cxamplaa Presented hares'arc for illustrative pug poses aaJ a rout a gterantee of actual andror futaae results.Praje Ct pro rusrma acct tax onatsscs.arc.pra�cctions only.Actual results maydifcr fromthose capressedisr tIs analyogs_' kosmo�i„�, t 1601N.5epulvada Brivt.it362,Manhattan Hdach,CA 902E6 I (424)297-t070, 1'rc walcosmanteurn • ' • Rancho Cucamonga.EIFD • Proposed Infrastructure Financing Plan April2022 ' Page 10 • • Corporation.yards; • Police facilities; .• . • Brownfield restoration and other environmental mitigation; • Affordable housing as authorized under the EIFD Law; • Projects that implement a sustainable communities strategy and transit priority projects; • • Acquisition, construction, or repair-of industrial structures for private use; • Acquisition, construction, .or repair of commercial structures by the small business occupant of such structures, if such acquisition, construction,or repair is for purposes of fostering economic recovery from the COVID-19 pandemic and of ensuring the long-term economic sustainability of small businesses; 0 CI a e • Projects that enable communities to adapt to the impacts of climate change, including, but • -not-limited to, higher average temperatures, decrea `sed air and viafe oquality, the spread of infectious;and vector-borne diseases, other public health impacts,,°.extreme weather events, sea level rise, flooding, heat waves wildfires, and drought; a. a • Facilities in which nonprofit community organizations provide health,youth, homeless, and social services. • • 0 .0 d 0 0 0 0 Other Expenses: In addition to the direct,costs of the above facilities, the Rancho Cucamonga EIFD may finance the costs of planning and design:work that is directly related:to the purchase, • construction, expansion or rehabilitation bf°property `including,• but not limited to, the cost of • environmental evaluation,and engineering arid.sunieying costs;environmental remediation costs; • tl ® 6 construction staking costs; utility relocation and demolition costs incidental to the construction of the facilities; costs.dfUlegal services;rand costs of project/construction management. a o 0 o v .° ° ¢ a ° • In addition, the Rancho Cucamonga EIFD`may finance any other expenses incidental to the formation, administration'' ando"implementatiory of the Rancho Cucamonga EIFD and to the 0 0 r 0 R construction, completion„inspection and acquisition of the authorized facilities, including, but not limited to, the costs of°creation and'administration of the Rancho Cucamonga EIFD; costs of . issuandq of bonds or otherrdebt of the Rancho Cucamonga EIFD or of any other public agency • . (including'a community facilities district) that.finances authorized facilities, and payment of debt • . service thereon;nfnancing costs of improvements incurred by developers until reimbursement for the costs of theiniproverrients from the Rancho Cucamonga EIFD; costs incurred by the City, ° .c F • I Administration costs refer to the actual or reasonably estimated costs directly related to the administration of the Rancho Cucamonga EIFD,including,but not limited to,the following:the costs of computing annual tax increment revenues and preparing the required annual reporting;the costs of allocation tax increment revenues (whether by the County,the City, • or otherwise); the costs to.the City, Rancho Cucamonga EIFD, or any designee thereof in complying with disclosure • .. . requirements; the costs associated with preparing required disclosure statements and responding to public inquiries regarding the Rancho Cucamonga EIFD;and the costs of the City,Rancho Cucamonga,EIFD,or any designee thereof . • related to any appeal of the implementation of the Rancho Cucamonga EIFD.'Administration costs shall also include • amounts estimated or advanced by the City for any other administrative purposes,including,but not limited to,attomey's • •fees or any Other expenses Incidental to the implementation of the Rancho Cucamonga EIFD. • The amaIy'ses,projctlicas,as;<rmptians,rates of return,and my exarriplcs presented herein are ler illresErjtiv>;pia oses arxt care rat a airantee of aetuol andror fftrse results;Project pro forma arsti �,. tax anaTgses.are.prajact6ons ontp.Actu�1 results mayd5ar freim those expressed rr thfs anatys5s_ kosmo l= 1601N.Sepulveda&I #392,Manhattan9aath;CA902e6 I (424)297-107O J a asrv.Resmnant.rtun �+n mks • • Rancho Cucamonga EIFD Proposed Infrastructure Financing Plan April 2022 Page 11 • Fire District, or the Rancho Cucamonga EIFD in connection:with the division of taxes pursuant to Government Code section 53398.75; and legal costs. Targeted improvements would conform to established guidelines in adopted planning documentation, such as the City General Plan. The PFA intends to continue to identify, evaluate, and pursue additional funding sources and financing mechanisms aside from District tax increment to implementtheimprovements identified ❑ n above, potentially including grant sources, complementary district formation (e.g., Mello-Roos Community Facilities District), impact fees, private sector investment incentivized by the formation n ❑ n L. of the Rancho Cucamonga EIFD itself, and/or other sources..° ° • ❑ Q 4 ❑ y, Private sector developers will be responsible for funding project-specific /fair-share / in-tract infrastructure. Some public facilities included tln the Rancho Cucamonga EIFD area are ❑ n anticipated to be provided by governmental entities,without assistance from the District. There are no public facilities anticipated to be provided jointly n a n by'the`private sector and governmental v entities; however, it is possible that.private sector,developers may advance funding for improvements, and those advances may�bepartially reimbu(sed with EIFD proceeds. Such case- specific specific agreements would come before the PFA for approval at the appropriate time. C. In accordance with Government Code Section 53398.69', ,the Rancho Cucamonga EIFD may expend up to 10 percent❑of any accrued tax increment in the first two years of the effective date of the Rancho Cucamonga EIFD ori'.planning and dissemination of information to the residents n c ❑ within the Rancho Cucamonga EIFD boundaries about the IFP and planned activities to be funded by the Rancho Cucamonga EIFD;.including reimbursement of the City's advanced funding of such eligible costs. ❑. ❑ ' ❑ ❑ ❑ ❑ .,,..� ❑ ❑ U ❑ o° u ❑ In addition, in accordance with Government Code Section 53398.76, costs incurred by the County of San Bernardino in connection with'the division of taxes for the Rancho Cucamonga EIFD are eligible toeb`e paid by the Rancho Cucamonga EIFD. ❑ �❑ ❑ n Q ° ❑ ❑ ❑ c ❑ • ❑ r U R L' a r ' .. ❑ The analyses,projcctiems,assumptions,rates of return,and any examples presented herein are for illu Cra1ite prsposes ao are not a guarantee of aclval endror fulvre results.Projev:t pro lOmla and) �,. tax ana?ases arc.piuxtifrons only.Actual results maydiffer frcm these expressed fn ttrs ana}yals kosIIZ ormixinki 1601N.Sepulveda Bred#362,Manhattan Beach,CA90265 I (424)297-1070_J onwrkosmont_eorn Rancho Cucamonga.EIFD Proposed Infrastructure Financing Plan April 2022. Page 12 4.0 Finding 'of Communitywide Significance Implementation of the District promotes the goals of and is consistent with the City's General Plan, facilitates implementation of regional connectivity through various modes of transportation, and provides the infrastructure foundation for the development of critically needed housing in the community and greater region. . ❑ 0 e o ♦ The District supports job creation, housing production, _improvement of quality of life, and promotion of environmental sustainability. ❑ ♦,❑❑ 0 0 ❑ ❑ O ♦ 0 Specific communitywide and regional benefits anticipated to be generated by the District include: • Approx. $146 million in net fiscal impact'to.the City over 50 years (on'a°present-value basis) ° r. 0 • Approx. $57 million in net fiscal impact to the Fir'e9.District over 50 years (on a present- 9 ❑ value basis) 0❑©°❑ ❑❑° • Approx. 11,767 housing units within the:District upon buildout and stabilization ❑ e • 69,452 direct, indirect, and induced"temporary;Econstruction`related job-years2 in the City and County -❑.-❑ ;n� o 0 0 °°°41 a - - • 7,440 direct, permanent❑jobs in the Ci :u ❑on buildout and stabilization • 2,575 additional indirect aria induced`permanent jobs in the City. and. County (total of 10,015 direct;indirect, and induced jobs)upon buildout and stabilization • $8.115 billion in economic°output from con°str°uction in the City and County • $1.136 billion in annual ongoing economic output in the City and County upon buildout and'stabilization. °❑ n v - ❑ is 0. .. ❑ 0 G . • ❑ ` ❑ .. L 6 • v ❑'i . ❑ ❑ 1 ❑ ❑ ❑ ❑ 0 0 ❑ G ❑ • ❑ a ❑ 2A job-year is defined as one year of employment for one employee.Over a 20-year construction period,69,452 job-years translates into approximately 3,473 annual average jobs. The analyses,projections,assumptions,rates of rciurn,and any examples presented hcrcn are far illustrative pWrposes and are ant a gixeraniee of actual andror future results.Project pro sterna attat A. tax.ana15S are projections only.Actual results maydddfer fremthose expressed in ttds analys kosmop 'Nr rx"' 1001 N.Sepetueea Bl vf."302,Manhattan Beach,CA 90260 j (424)air-t07O 'rnz.foasanonteenm Rancho Cucamonga EIFD Proposed Infrastructure Financing Plan April 2022 Page 13 5.0 Financing Section Projections included in this IFP are based on research and analysis of available data at the time of IFP for purposes of planning and illustration. Actual results may differ from those expressed in this document. Aside from the City and Fire District, no other taxing entity is allocatingrproperty tax increment to the District at this time. It is anticipated that property tax increment`will be utilized on both a "pay- c" as-you-go" basis as well as security for tax increment bond issuance,or loan acquisition. Definition of Tax Increment. For purposes of clarity, the'phrases "tax increment," "incremental property tax" and "incremental tax revenue", as used;in this IFP and the'EIFD Law, refer to the portion of future property tax revenue described in,Section 53398.75(a)(2) ofthe❑EIFD Law, i.e., the difference between (A) and (B) in the following formula: NV ® u V a ❑ ❑ (A) the taxes that would be produced by the rate uponvwhich the tax is levied each year during the term of the Rancho Cucamonga EIFD upon the total sum pf the assessed value of the taxable property in the EIFD in each such year minus° •❑ t❑ \ 6 ❑ ❑ a (B) the taxes that wouldrbe produced by,,the rate°upon which the tax is levied upon the total b n r a ❑ . a a.. . sum of the assessed value of the taxable property in the Rancho Cucamonga EIFD as shown upon the last equalized roll prior to theaeffective date of the resolution adopted pursuant to Section 53398.69 of the EIFD'Law to create The Rancho'Cucamonga EIFD. CD 4131313 - In the case of the Rancho'Cucarrionga EIFD,the°resolution adopted pursuant to Section 53398.69 was [is expected to be] adopted pn July 19, 2022, and the last equalized roll prior to the effective date of'that resolution is the roll?foruFiscal Year 2021-2022. Fiscal Year 2021-22 is referred to as the "base year:" The assessed valueof the taxable property shown in such last equalized roll is approximately $729 million.,This value is referred to as the 'base year value": Overlap with mlElOyndaries°of former Rancho Cucamonga Redevelopment Agency. The Rancho Cucamonga,ElFDa1ncludes overlap with former Redevelopment Project Area boundaries DOC of the former Rancho°Cucamonga Redevelopment Agency, and so property tax revenues generated by the properties within the Overlapping area will flow according to the Redevelopment Agency dissolution statutes until all of the Successor Agency's obligations are retired and the Successor Agency is dissolved (currently anticipated by 2034). The City and Fire District anticipate allocating Redevelopment Property Tax Trust Fund ("RPTTF") residual revenues to the District as part of the maximum allocations outlined in the following sections. As such, the exhibits included in this plan reflect such allocations. The analyses,projccriores assurnptioris,rates of rctum,and:cry cxamplcs prosenlcd herciir arc far illustrative;Roos' arod ae aroot a guarantee of actual anridor future results.Prcject pro lorrfra afgcl tax analyses are projections on}Y.Achial results may differ from those expressed in this anaty s. kosmo Pl'/IF'fiks 1601 N.$afru veda Bhv1.#302,Manhattan Beach,CA 90246 (424)291-1070 j' tlynt.Rosononteono '' • Rancho Cucamonga E1FD Proposed Infrastructure Financing Plan April 2022 Page 14 Where the District boundaries overlap with the boundaries.of the former Redevelopment Project • Area, any debt or obligation of a District shall be subordinate to any and all enforceable obligations . of the former Redevelopment Agency,:as approved by the,Oversight Board and the Department of Finance. 5.1 Maximum Portion of Incremental Tax Revenue Dedicated to the District °. Table 3 details the maximum portion of the incremental property tax revenue of the.City and Fire District proposed to be committed to the District throughout the duration of the District lifetime. In summary, the maximum portion of the City's property tax iricrenien°tois 100% for initial years following formation of the District, decreasing in a gradual manner to approximately 9% at District • " termination. The maximum portion of the Fire District's°property tax increment is 80% for initial years following:formation of the District, decreasing:,ln:,a gradual manner to approximately 5%, at District termination. The proposed contribution::scenario is intended to focus°ori=funding debt service for bonds issued approximately four to sizaye_ars follotrving District formation, as well as maintenance of funded infrastructure improvements ❑° a:❑z ° ❑ ° ❑ a w a ❑ - 5.2 Projection of District Tax Revenues by Year- °° Table 3 provides an overview rof the projected'growthrof0assessed value, property tax increment, and City and.Fire District'allooeti'ori'ato the Di'striict°over.the District lifetime. It is expected that a total of approximately o$255,688,000�gf incremental tax revenues will be allocated to the District over the District 'lifetime .(approximately.. $97;7�57,000 from the City and approximately $157,931,000 from the0Fire District)d.These projections are based on research and analysis of available data at the time of IFP'preparation,fo.r°purposes of illustration. Actual results may differ from those°expres°sed.in thr&document. Appendix C provides additional detail for the projected revenue„analysis. °u°❑ o° © a d a °. .0 ❑ 6 ❑ r. . e ❑ ° C. ° . ❑ a. 5.3 , Plan for Financing Public Facilities The PFA interds`to utilize numerous funding sources and financing mechanisms to implement the improvements.identified,in.Section 3.2, potentially 'including District tax Increment, grant sources, complementary district formation (e.g.,' Community Facilities District), impact fees, private sector investment incentivized by the formation,of the Rancho Cucamonga EIFD itself, and/or other sources. As it:pertains to the use of District tax increment,:the PFA intends to incur debt only when it is financially:prudent to do'so. It is estimated'at this time that the Rancho Cucamonga EIFD will provide funding for approximately $100 million (in present value dollars) of public improvement costs from a combination of tax increment bond or loan proceeds;(multiple issuances,may'be • necessary) and pay-as-you-go tax increment funding over the District lifetime • The anelyscs,projectis s,assumptions rates of return,and amyr examples presented horci arc fee . ' illustrative purposes arnd are hJt a r�earanlee of actual andror future results.Project pro leema coral tax anafj ses.are projections'only.Actual results may differ from these expressed in this analyils. -- ko gill on ami'mk, 160t Pl.Sepulveda Bra#9E2,Manhattan Beach,OA 902e6 I (424)297-t070, I:•mva. csetar t.com - - . • Rancho Cucamonga EIFD Proposed Infrastructure Financing Plan April 2022 Page 15 5.4 Limit on Total Dollars Allocated to the District The total number of dollars of taxes that may be allocated to the District shall not exceed $500,000,000 in nominal dollars over the District lifetime. The City hereby irrevocably allocates all of the City's share of tax increment as characterized herein to the Rancho Cucamonga EIFD to the extent that: (i) the City's share of increment is necessary to repay bonds, notes or related agreements or to meet contractual obligations that the Rancho Cucamonga EIFD is obligated to satisfy with Rancho Cucamonga EIFD tax increment, and (ii) prior to the PFA incurring an obligation under subsection (i), such bonds, notes, agreements or obligations shall be approved by the City Council. 5.5 District Termination Date The District will cease to exist the earlier of: (i) forty five (45) years from the date on which the issuance of bonds is approved by the PFA, or(ii)June 30, 2072.This IFP assumes that the District will be formed in Fiscal Year 2021-2022 and will begin receiving tax revenues in Fiscal Year 2022- 2023. 5.6 Analysis of Costs to Provide Facilities and Services Appendix D to this IFP includes, as part of the Fiscal Impact Analysis, an analysis of the costs to the City for providing facilities and services to the area of the District while the area is being developed and after the area is developed. It is estimated that, at Year 20 of the District lifetime (assumed stabilized buildout of District area), annual costs to the City will be approximately $20.2 million to service the area of the District. Additionally, annual costs to the Fire District at Year 20 are estimated at $4.6 million. 5.7 Fiscal Impact Analysis Appendix D to this IFP includes an analysis of the projected fiscal impact of the District and the associated development upon the City and the Fire District, as the only affected taxing entities that are allocating tax increment revenues to the District. Table 4 presents an overview of fiscal impacts to the City and Fire District. It is estimated that, at Year 20 of the District lifetime, the District area will generate an annual net fiscal surplus of approximately $5.3 million to the City and an annual net fiscal surplus of approximately $1.2 million to the Fire District. Over 50 years, it is estimated that District activity will generate a positive net fiscal impact of approximately $146 million for the City and approximately $57 million for the Fire District on a present-value basis. This is in addition to the Community economic benefits outlined in Section 4 of this IFP (e.g., housing, jobs, mobility and connectivity, quality of life, environmental sustainability). The analyses,projections,assumptions rates of return,and any examples presented heron arc for illuatratrve purposes and are not a guarantee of actual andror Mite results Project pro forma and tax analyses arc projccbons only Actual results may differ from those expressed n this anahsrs. C,s,TIO"n"-' 1601rJ Sepulveda Bloc! 0362 tAanhattan Beath.GA90266 I (424)297-t070 I rrH'+►kosmontCom Rancho Cucamonga EIFD Proposed Infrastructure Financing Plan April 2022 Page 16 Table 3: Projection of District Revenues by Year City Contribution Fire District Contribution Property Tax Incremental Increment @ Average City City Portion of City Average Fire Fire District Portion of Fire Total Taxes Fiscal Year Share Increment City Share Increment District Share Increment Fire Share Increment Allocated to Assessed Value 1%General Available Available Allocated Allocated Available Available Allocated Allocated EIFD Levy . 0 2021/2022 $0 $0 5.20% $0 100% $0 12.4% $0 80% $0 $0 1 2022/2023 $79,994,178 $799,942 5.20% $41,565 100% $41,565 12.4% $98,820 80% $79,056 $120,622 2 2023/2024 $1,460,958,382 $14,609,584 5.20% $759,118 100% $759,118 12.4% $1,804,788 80% $1,443,830 $2,202,948 3 2024/2025 $2,629,495,495 $26,294,955 5.20% $1,366,293 100% $1,366,293 12.4% $3,248,334 80% $2,598,667 $3,964,961 4 2025/2026 $3,843,897,932 $38,438,979 5.20% $1,997,300 100% $1,997,300 12.4% $4,748,540 80% $3,798,832 $5,796,133 5 2026/2027 $5,123,419,002 $51,234,190 5.20% $2,662,143 100% $2,662,143 12.4% $6,329,190 80% $5,063,352 $7,725,495 6 2027/2028 $5,471,300,778 $54,713,008 5.20% $2,842,904 90% $2,558,613 12.4% $6,758,944 70% $4,731,261 $7,289,874 7 2028/2029 $5,830,756,681 $58,307,567 5.20% $3,029,678 90% $2,726,710 12.4% $7,202,996 70% $5,042,097 $7,768,808 8 2029/2030 $6,202,110,524 $62,021,105 5.20% $3,222,634 90% $2,900,371 12.4% $7,661,746 70% $5,363,222 $8,263,593 9 2030/2031 $6,585,694,440 $65,856,944 5.20% $3,421,946 90% $3,079,751 12.4% $8,135,605 70% $5,694,923 $8,774,675 10 2031/2032 $6,981,849,092 $69,818,491 5.20% $3,627,789 90% $3,265,010 12.4% $8,624,993 70% $6,037,495 $9,302,505 11 2032/2033 $7,136,074,915 $71,360,749 5.20% $3,707,925 80% $2,966,340 12.4% $8,815,515 60% $5,289,309 $8,255,649 12 2033/2034 $7,293,385,254 $72,933,853 5.20% $3,789,664 80% $3,031,731 12.4% $9,009,847 60% $5,405,908 $8,437,639 13 2034/2035 $7,453,841,799 $74,538,418 5.20% $3,873,038 80% $3,098,430 12.4% $9,208,066 60% $5,524,840 $8,623,270 14 2035/2036 $7,617,507,476 $76,175,075 5.20% $3,958,079 80% $3,166,463 12.4% $9,410,250 60% $5,646,150 $8,812,613 15 2036/2037 $7,784,446,466 $77,844,465 5.20% $4,044,821 80% $3,235,857 12.4% $9,616,477 60% $5,769,886 $9,005,743 16 2037/2038 $7,954,724,236 $79,547,242 5.20% $4,133,298 70% $2,893,308 12.4% $9,826,829 50% $4,913,414 $7,806,723 17 2038/2039 $8,128,407,561 $81,284,076 5.20% $4,223,544 70% $2,956,481 12.4% $10,041,388 50% $5,020,694 $7,977,175 18 2039/2040 $8,305,564,553 $83,055,646 5.20% $4,315,595 70% $3,020,917 12.4% $10,260,238 50% $5,130,119 $8,151,036 19 2040/2041 $8,486,264,685 $84,862,647 5.20% $4,409,488 70% $3,086,641 12.4% $10,483,465 50% $5,241,732 $8,328,374 20 2041/2042 $8,670,578,819 $86,705,788 5.20% $4,505,258 70% $3,153,680 12.4% $10,711,156 50% $5,355,578 $8,509,259 21 2042/2043 $8,858,579,236 $88,585,792 5.20% $4,602,943 60% $2,761,766 12.4% $10,943,402 40% $4,377,361 $7,139,127 22 2043/2044 $9,050,339,661 $90,503,397 5.20% $4,702,583 60% $2,821,550 12.4% $11,180,292 40% $4,472,117 $7,293,666 23 2044/2045 $9,245,935,295 $92,459,353 5.20% $4,804,215 60% $2,882,529 12.4% $11,421,920 40% $4,568,768 $7,451,297 24 2045/2046 $9,445,442,842 $94,454,428 5.20% $4,907,879 60% $2,944,728 12.4% $11,668,381 40% $4,667,352 $7,612,080 25 2046/2047 $9,648,940,539 $96,489,405 5.20% $5,013,617 60% $3,008,170 12.4% $11,919,771 40% $4,767,908 $7,776,079 26 2047/2048 $9,856,508,190 $98,565,082 5.20% $5,121,470 50% $2,560,735 12.4% $12,176,188 30% $3,652,856 $6,213,592 27 2048/2049 $10,068,227,195 $100,682,272 , 5.20% $5,231,480 50% $2,615,740 12.4% $12,437,734 30% $3,731,320 $6,347,060 28 2049/2050 $10,284,180,579 $102,841,806 4 5.20% $5,343,690 50% $2,671,845 12.4% $12,704,511 30% $3,811,353 $6,483,198 29 2050/2051 $10,504,453,032 $105,044,536 5.20% $5,458,144 50% $2,729,072 12.4% $12,976,624 30% $3,892,987 $6,622,059 30 2051/2052 $10,729,130,933 $107,291,309' 5.20% $5,574,887 50% $2,787,444 12.4% $13,254,178 30% $3,976,254 $6,763,697 31 2052/2053 $10,958,302,392 $109,583,024.1 5.20% $5,693,965 40% $2,277,586 12.4% $13,537,284 20% $2,707,457 $4,985,043 32 2053/2054 $11,192,057,280 $111,920,573 5.20% $5,815,425 40% $2,326,170 12.4% $13,826,052 20% $2,765,210 $5,091,381 33 2054/2055 $11,430,487,267 $114,304,873 5.20% $5,939,314 40% $2,375,726 12.4% $14,120,596 20% $2,824,119 $5,199,845 34 2055/2056 $11,673,685,8, $118,7,3459.. 5.20% $6,065,681 9% $545,911 12.4% $14,421,030 5% $721,051 $1,266,963 35 2056/2057 $11,921,74. 4161 $119,217,484 5.20% $6,194,575 9% $557,512 12.4% $14,727,473 5% $736,374 $1,293,885 36 2057/2058 $12,1747•415.9 $121,747,722' 5.20% $6,326,047 9% $569,344 12.4% $15,040,044 5% $752,002 $1,321,346 37 2058/2059 $12,442,856,504 $124,328,565 5.20% $6,460,148 9% $581,413 12.4% $15,358,867 5% $767,943 $1,349,357 38 2059/2060 $12,696P,19i475 $126,961,025 5.20% $6,596,931 9% $593,724 12.4% $15,684,067 5% $784,203 $1,377,927 39 2060/2061 512,964,613;369 $129,646,134 5.20% $6,736,450 9% $606,281 12.4% $16,015,771 5% $800,789 $1,407,069 40 2061/2062 $13,238,494,473 $132,384,945 5.20% $6,878,760 9% $619,088 12.4% $16,354,108 5% $817,705 $1,436,794 41 2062/2063 $13,517,853,203 $135,178,532 5.20% $7,023,915 9% $632,152 12.4% $16,699,213 5% $834,961 $1,467,113 42 2063/2064 $13,802,799,107 $138,027,991 5.20% $7,171,974 9% $645,478 12.4% $17,051,219 5% $852,561 $1,498,039 43 2064/2065 $14,093,443,930 $146,1,3 ,f39 5.20% $7,322,994 9% $659,069 12.4% $17,410,266 5% $870,513 $1,529,583 44 2065/2066 $14,389,901,649 5143,899,016 5.20% $7,477,034 9% $672,933 12.4% $17,776,493 5% $888,825 $1,561,758 45 2066/2067 $14,692,288,523 $146,922,738; 5.20% $7,634,155 9% $687,074 12.4% $18,150,045 5% $907,502 $1,594,576 46 2067/2068 $15,000,723,134 $150,007,231.1 5.20% $7,794,419 9% $701,498 12.4% $18,531,069 5% $926,553 $1,628,051 47 2068/2069 $15,315,326,437 $153,153,264 5.20% $7,957,888 9% $716,210 12.4% $18,919,712 5% $945,986 $1,662,196 48 2069/2070 $15,636,221,807 $156,362,218 5.20% $8,124,626 9% $731,216 12.4% $19,316,129 5% $965,806 $1,697,023 49 2070/2071 $15,963,535,083 $159,635,351 5.20% $8,294,699 9% $746,523 12.4% $19,720,474 5% $986,024 $1,732,547 50 2071/2072 $16,297,394,626 $162,973,946 5.20% $8,468,173 9% $762,136 12.4% $20,132,905 5% $1,006,645 $1,768,781 Total $4,901,246,175 $254,670,163 38% $97,757,347 $605,473,006 26% $157,930,876 $255,688,223 Present Value CP 3% $2,127,176,505 5110,528,704 51% $55,963,836 $262,779,691 36% $93,907,319 $149,871,155 The analyses,projections,assumptions,rates of return,and any examples presented heron are for illustrative purposes and are not a guarantee of actual andror future results.Project pro forma and arli k0 S Qn tax analyses are projections only.Actual results may drier from those expressed in this analyses. 0 nM 1601 rl Sepulveda Bled *382 Manhattan Beach.CA 90266 I (424)297-1070 ( avert kosmont corn Rancho Cucamonga EIFD Proposed Infrastructure Financing Plan April 2022 Page 17 Table 4: Overview of Fiscal Impacts to City and Fire District Annual Year 0-50 Year 0-50 (Stablized Nominal Present Value Year 20) Total @ 3.0% City of Rancho Cucamonga Estimated Fiscal Revenues (Net of Allocation of T1 to EIFD) $25,486,770 $1,622,088,000 $651,158,500 Estimated Fiscal Expenditures $20,218,100 $1,257,660,100 $505,229,600 Estimated Net Fiscal Impact to City $5,268,670 $364,427,900 $145,928,900 Rancho Cucamonga Fire Protection District Estimated Fiscal Revenues (Net of Allocation of Ti to EIFD) $5,795,350 $463,975,600 $172,055,900 Estimated Fiscal Expenditures $4,613,300 $286,979,900 $115,294,800 Estimated Net Fiscal Impact to Fire District $1,182,050 $176,995,700 $56,761,100 5.8 Developer Reimbursement for Transit Priority Project The PFA does not intend to finance any potential costs that may be incurred by reimbursing a developer of a project that is both located entirely within the boundaries of the District and qualifies for the Transit Priority Project Program, pursuant to Section 65470. To the extent that a developer is willing to fund Transit Priority Project infrastructure expenditures beyond and in advance of said developer's fair share (not contemplated at this time), the PFA may consider and evaluate such reimbursement at the appropriate time. The analyses,protections,assumptions,rates of return,and any examples presented herein are for iluslralive puposes and are not a guarantee of actual andror future results.Propel pro forma and kOSitiOtl taxanalyses are protections only.Actual results maydlfer from those expressed in this analysis. 1601 N Sepulveda Bred N382 Manhattan Beach,CA 90266 I (424)297-1070 I awnlwsmontcorn Rancho Cucamonga EIFD Proposed Infrastructure Financing Plan April 2022 Page 18 6.0 Removal of Dwelling Units and Replacement Housing Plan The PFA does not anticipate that any housing units will be removed as a result of any public works construction within the area of the District or private development within the area of the District that is subject to a written agreement with the District or that is financed in whole or in part by the District. However, if any relocation of dwelling units is deemed to be required in the future for a project financed by the District, the PFA will comply with the requirements of Government Code Section 53398.56. The analyses,projections,assumptions.rates of return,and any examples presented herein are for illustrative purposes and are not a guarantee of actual andror future results Project pro forma and k�e n tart analyses are projectrons only Actual results may defer from those expressed in this analyses. r,My""6^ 1601N.SepulvedaBMd#382 Manhattan Beach,CA90266 I (424)297-1070 ( vworkosmontcorn • Rancho Cucamonga EIFD Proposed Infrastructure Financing Plan April 2022 Page 19 7.0 Goals of the District As stated in the Resolution of Intention, the goal of the Rancho Cucamonga EIFD is to assist in the provision of public facilities of communitywide significance that provide significant benefits and promote economic development within the boundaries of the Rancho Cucamonga EIFD or the surrounding community and, for those facilities located outside the Rancho Cucamonga EIFD boundaries which also have a tangible connection to the Rancho Cucamonga EIFD. More specifically, the goals of the District's implementation of the public facilities outlined in Section 3.2 are to support the City's General Plan, facilitate implementation of regional connectivity through various modes of transportation, and to provide the infrastructure foundation for the development of critically-needed housing in the community and greater region. The District additionally aims to implement Statewide policy goals of housing supply and sustainable infrastructure investment. Additional objectives include economic development in the form of fiscal revenue generation for the City and other taxing entities,job creation, housing production, improvement of quality of life, and promotion of environmental sustainability. The District will be utilized to address critical infrastructure funding needs, which are are critical to catalyze private sector investment and development. The analyses,projections,assumptions rates of return,and any examples presented herein arc for flusttative purposes and arenot a guarantee of actual andfor future results Project pro forma andiC0$> �Cl tax analyses are projections only Actual results may differ from those expressed ire this analyses x"I""r^ 1601N.Sepulveda Blvd #362 Manhattan Beach,CA90266 I (424)297-1070 IIlea kosmontcom • Rancho Cucamonga EIFD Proposed Infrastructure Financing Plan April 2022 Page 20 8.0 Appendices Appendix A: Map of Boundaries of the Rancho Cucamonga EIFD (draft/placeholder) Appendix B: Legal Description of the Rancho Cucamonga EIFD (draft/placeholder) Appendix C: Projected Tax Increment Revenue Analysis Appendix D: Fiscal Impact Analysis Appendix E: City General Plan Envionmental Impact Report The analyses,projections,assumptions.rafts of return,and any examples presented herein are for flusiralrve purposes and are not a guarantee of actual andror future results Project pro forma and koslfion tax analyses are projectironsonly Actual results may differ frorn those expressed n Otis analysrs ."np."— 1601 N.Sepulveda Blvd$382.Manhattan Beach.CA 90266 I (424)297-1070 *wa.kosmont con APPENDIX C: Rancho Cucamonta EIFD - Projected Tax Increment Revenue Analysis DRAFT 0 1 2 3 4 5 6 7 Total 2021-2022 2023 2024 2025 2026 2027 2028 2029 New Development Rental Residential 10,253 units 202 units 236 units 2,583 units 2,583 units 2,583 units 413 units 413 units $317,440 per unit $3,575,048,904 $65,405,338 $77,942,440 $870,022,578 $887,423,029 $905,171,490 $147,785,952 $150,741,671 For Sale Residential 1,514 units 832 units 67 units 67 units 67 units 96 units 96 units $618,074 per unit $1,017,912,094 $535,012,766 $44,164,275 $45,047,560 $45,948,512 $66,820,964 $68,157,384 Commercial/Retail 922,000 SF 22,000 SF 284,667 SF 284,667 SF 284,667 SF 9,200 SF 9,200 SF $274 PSF $274,362,823 $6,271,531 $82,772,809 $84,428,265 $86,116,831 $2,838,830 $2,895,607 Office 222,000 SF 22,000 SF 40,000 SF 40,000 SF $211 PSF $54,292,954 $4,829,537 $9,504,811 $9,694,907 Hotel 171 units 71 units 100 units $162,000 per unit $29,852,790 $11,966,681 $17,886,109 Industrial 6,272,408 SF 4,072,408 SF 700,000 SF 700,000 SF 700,000 SF 20,000 SF 20,000 SF $172 PSF $1,139,938,574 $728,752,525 $127,769,443 $130,324,832 $132,931,329 $3,873,999 $3,951,479 Subtotal Value Add $6,091,408,138 $65,405,338 $1,364,775,479 $1,124,729,105 $1,147,223,687 $1,188,054,270 $230,824,556 $235,441,047 Total Assessed Value $729,442,030 $809,436,208 $2,190,400,412 $3,358,937,525 $4,573,339,962 $5,852,861,032 $6,200,742,808 $6,560,198,711 Incremental AV $79,994,178 $1,460,958,382 $2,629,495,495 $3,843,897,932 $5,123,419,002 $5,471,300,778 $5,830,756,681 Total tax increment @ 1% $799,942 $14,609,584 $26,294,955 $38,438,979 $51,234,190 $54,713,008 $58,307,567 City Share Available 5.20% $254,670,163 $41,565 $759,118 $1,366,293 $1,997,300 $2,662,143 $2,842,904 $3,029,678 Percent Allocated to EIFD 100% 100% 100% 100% 100% 90% 90% Amount Allocated to EIFD $97,757,347 $41,565 $759,118 $1,366,293 $1,997,300 $2,662,143 $2,558,613 $2,726,710 Fire District Share Equivalent Available 12.35% $605,473,006 $98,820 $1,804,788 $3,248,334 $4,748,540 $6,329,190 $6,758,944 $7,202,996 Percent Allocated to EIFD 80% 80% 80% 80% 80% 70% 70% Amount Allocated to EIFD $157,930,876 $79,056 $1,443,830 .$2;598,667 $3,798,832 $5,063,352 $4,731,261 $5,042,097 Total Revenues Allocated to EIFD $255,688,223 $120,622 $2,202,948 $3,964,961 $5,796,133 $7,725,495 $7,289,874 $7,768,808 The analyses,projections,assumptions,rates of return.and any examples presented hems)are for dluWStrative purposes and are n0(a guarantee of actual and/or future resultS.Project pro forma trod kOS•U p tax analyses are projectons only Actual results may differ from those expressed this analysis. 3/21/2022 ""I.'"in 1601 N.Sepuhmdd Blvd#382.Manhattan Beath.CA 90266 I 0202074070 1 werkosmontcom Page 1 of 7 • APPENDIX C: Rancho Cucamonta EIFD - Projected Tax Increment Revenue Analysis DRAFT 8 9 10 11 12 13 14 15 Total 2030 2031 2032 2033 2034 2035 2036 2037 New Development Rental Residential 10,253 units 413 units 413 units 413 units $317,440 per unit $3,575,048,904 $153,756,504 $156,831,634 $159,968,267 For Sale Residential 1,514 units 96 units 96 units 96 units $618,074 per unit $1,017,912,094 $69,520,531 $70,910,942 $72,329,161 • Commercial/Retail 922,000 SF 9,200 SF 9,200 SF 9,200 SF $274 PSF $274,362,823 52,953,519 $3,012,589 $3,072,841 Office 222,000 SF 40,000 SF 40,000 SF 40,000 SF $211 PSF $54,292,954 $9,888,805 $10,086,581 $10,288,313 Hotel 171 units $162,000 per unit $29,852,790 Industrial 6,272,408 SF 20,000 SF 20,000 SF 20,000 SF $172 PSF $1,139,938,574 $4,030,508 $4,111,118 $4,193,341 • Subtotal Value Add $6,091,408,138 $240,149,868 $244,952,865 $249,851,923 $0 $0 $0 $0 $0 Total Assessed Value 56,931,552,554 $7,315,136,470 $7,711,291,122 $7,865,516,945 $8,022,827,284 $8,183,283,829 $8,346,949,506 $8,513,888,496 Incremental AV $6,202,110,524 $6,585,694,440 $6,981,849,092 $7,136,074,915 $7,293,385,254 $7,453,841,799 $7,617,507,476 $7,784,446,466 Total tax increment @ 1% $62,021,105 $65,856,944 $69,818,491 $71,360,749 $72,933,853 $74,538,418 $76,175,075 $77,844,465 City Share Available 5.20% $254,670,163 53,222,634 $3,421,946 $3,627,789 $3,707,925 53,789,664 $3,873,038 $3,958,079 $4,044,821 Percent Allocated to EIFD 90% 90% 90% 80% 80% 80% 80% 80% Amount Allocated to EIFD $97,757,347 $2;900,371 $3,079,751 $3,265,010 $2,966,340 $3,031,731 $3,098,430 $3,166,463 $3,235,857 Fire District Share Equivalent Available 12.35% $605,473,006 $7,661,746 58,135,605 $8,624,993 $8,815,515 $9,009,847 $9,208,066 $9,410,250 $9,616,477 Percent Allocated to EIFD 70% 70% 70% 60% 60% 60% 60% 60% Amount Allocated to EIFD $157,930,876 $5,363,222 $5,694,923 $6,037,495 $5,289,309 $5,405,908 $5,524,840 $5,646,150 : . $5,769,886 Total Revenues Allocated to EIFD $255,688,223 $8,263,593 $8,774,675 $9,302,505 $8,255,649 $8,437,639 $8,623,270 $8,812,613 $9,005,743 The analyses.projections.assumptiorss•rates of retureturn.u ,and aey exanplespresented here, are for ilustiatrve prspoSeS and zee not a guaantee of actual andfor fudge results.Project pro fom�a and IC U S• tax rn analyses are protections only.Actual results aydlfer fromthose expressed in this analyses. 3/21/2022 1601 N.Sepulveda Bred V382.Manhattan Beach.CA90266 I (424)297-1070 I warloosmontcom Page 2 of 7 APPENDIX C: Rancho Cucamonta EIFD - Projected Tax Increment Revenue Analysis DRAFT 16 17 18 19 20 21 22 23 Total 2038 2039 2040 2041 2042 2043 2044 2045 , New Development Rental Residential 10,253 units $317,440 per unit $3,575,048,904 For Sale Residential 1,514 units $618,074 per unit $1,017,912,094 Commercial/Retail 922,000 SF $274 PSF $274,362,823 Office 222,000 SF $211 PSF $54,292,954 Hotel 171 units $162,000 per unit $29,852,790 Industrial 6,272,408 SF $172 PSF $1,139,938,574 Subtotal Value Add $6,091,408,138 $0 $0 $0 $0 $0 $0 $0 $0 Total Assessed Value $8,684,166,266 $8,857,849,591 $9,035,006,583 $9,215,706,715 $9,400,020,849 $9,588,021,266 $9,779,781,691 $9,975,377,325 Incremental AV $7,954,724,236 $8,128,407,561 $8,305,564,553 $8,486,264,685 $8,670,578,819 $8,858,579,236 $9,050,339,661 $9,245,935,295 Total tax increment @ 1% $79,547,242 $81,284,076 $83,055,646 $84,862,647 $86,705,788 $88,585,792 $90,503,397 $92,459,353 City Share Available 5.20% $254,670,163 $4,133,298 $4,223,544 $4,315,595 $4,409,488 $4,505,258 $4,602,943 $4,702,583 $4,804,215 Percent Allocated to EIFD 70% 70% 70% 70% 70% 60% 60% 60% Amount Allocated to EIFD $97,757,347 $2,893,308 $2,956,481 $3,020,917 $3,086,641 $3,153,680 $2,761,766 $2,821,550 $2,882,529 Fire District Share Equivalent AvailablE 12.35% $605,473,006 $9,826,829 $10,041,388 $10,260,238 $10,483,465 $10,711,156 $10,943,402 $11,180,292 $11,421,920 Percent Allocated to EIFD 50% 50% 50% 50% 50% 40% 40% 40% Amount Allocated to EIFD $157,930,876 .$4,913,414 $5,020,694 $5,130,119 $5,241,732 $5,355,578 $4,377,361 $4,472,117 $4,568,768 Total Revenues Allocated to EIFD $255,688,223 $7,806,723 $7,977,175 $8,151,036 $8,328,374 $8,509,259 $7,139,127 $7,293,666 $7,451,297 li The analyses.protections,assumptions..rates of return.and a examples presented herein are for illustrative purposes and are rota guarantee of actual andfor future results Project pro Mona and kos mo tax analyses are pro'ecbons only Actual results mayditfer fromnyt ose expressed in this analyses. 3/21/2022 24^1^ 1601 N Sepulveda9Md a362.Manhattan Beach.CA90266 I (424)297-1070 1 wwe.kosrnontcom Page 3 of 7 APPENDIX C: Rancho Cucamonta EIFD - Projected Tax Increment Revenue Analysis DRAFT 24 25 26 27 28 29 30 31 Total 2046 2047 2048 2049 2050 2051 2052 2053 New Development Rental Residential 10,253 units $317,440 per unit $3,575,048,904 For Sale Residential 1,514 units $618,074 per unit $1,017,912,094 Commercial/Retail 922,000 SF $274 PSF $274,362,823 Office 222,000 SF $211 PSF $54,292,954 Hotel 171 units $162,000 per unit $29,852,790 Industrial 6,272,408 SF • $172 PSF $1,139,938,574 Subtotal Value Add $6,091,408,138 $0 $0 $0 $0 $0 $0 $0 $0 Total Assessed Value $10,174,884,872 $10,378,382,569 $10,585,950,220 $10,797,669,225 $11,013,622,609 $11,233,895,062 $11,458,572,963 $11,687,744,422 Incremental AV $9,445,442,842 $9,648,940,539 $9,856,508,190 $10,068,227,195 $10,284,180,579 $10,504,453,032 $10,729,130,933 $10,958,302,392 Total tax increment @ 1% $94,454,428 $96,489,405 $98,565,082 $100,682,272 $102,841,806 $105,044,530 $107,291,309 $109,583,024 City Share Available 5.20% $254,670,163 $4,907,879 $5,013,617 $5,121,470 $5,231,480 $5,343,690 $5,458,144 $5,574,887 $5,693,965 Percent Allocated to EIFD 60% 60% 50% 50% 50% 50% 50% 40% Amount Allocated to EIFD $97,757,347 $2,944,728 $3,008,170 $2,560,735 $2,615,740 $2,671,845 ' $2,729,072 $2,787,444 $2,277,586 Fire District Share Equivalent Available 12.35% $605,473,006 $11,668,381 $11,919,771 $12,176,188 $12,437,734 $12,704,511 $12,976,624 $13,254,178 $13,537,284 Percent Allocated to EIFD 40% 40% 30% 30% 30% 30% 30% 20% Amount Allocated to EIFD $157,930,876 $4,667,352 $4,767,908 $3,652,856 $3,731,320 $3,811,353 $3,892,987 $3,976,254 $2,707,457 • Total Revenues Allocated to EIFD $255,688,223 $7,612,080 $7,776,079 $6,213,592 $6,347,060 $6,483,198 $6,622,059 $6,763,697 $4,985,043 The analyses,projections.assumptions.rates of return,and any examples presented herein are for Rush a five purposes and are not a guarantee of actual andror future resullS Project pro forma and kos m o n lac u analyses are proPecbons ordy Actual results may differ fromrose expressed in this analyses. 3/21/2022 ^i^ 160.N.Sepulveda Blvd e382 Manhattan Beach.CA90266 I (424)2074070 I .wetcosmontcom Page 4 of 7 APPENDIX C: Rancho Cucamonta EIFD - Projected Tax Increment Revenue Analysis DRAFT 32 33 34 35 36 37 38 39 Total 2054 2055 2056 2057 2058 2059 2060 2061 New Development Rental Residential 10,253 units $317,440 per unit $3,575,048,904 For Sale Residential 1,514 units $618,074 per unit $1,017,912,094 Commercial/Retail 922,000 SF $274 PSF $274,362,823 Office 222,000 SF $211 PSF $54,292,954 Hotel 171 units $162,000 per unit $29,852,790 Industrial 6,272,408 SF $172 PSF $1,139,938,574 Subtotal Value Add $6,091,408,138 $0 $0 $0 $0 $0 $0 $0 $0 Total Assessed Value $11,921,499,310 $12,159,929,297 $12,403,127,883 $12,651,190,440 $12,904,214,249 $13,162,298,534 $13,425,544,505 $13,694,055,395 Incremental AV $11,192,057,280 $11,430,487,267 $11,673,685,853 $11,921,748,410 $12,174,772,219 $12,432,856,504 $12,696,102,475 $12,964,613,365 Total tax increment @ 1% $111,920,573 $114,304,873 $116,736,859 $119,217,484 $121,747,722 $124,328,565 $126,961,025 $129,646,134 City Share Available 5.20% $254,670,163 $5,815,425 $5,939,314 $6,065,681 $6,194,575 $6,326,047 $6,460,148 $6,596,931 $6,736,450 Percent Allocated to EIFD 40% 40% 9% 9% 9% 9% 9% 9% Amount Allocated to EIFD $97,757,347 $2,326,170 $2,375,726 $545,911 $557,512 $569,344 - $581,413 $593,724 • $606,281 Fire District Share Equivalent Available 12.35% $605,473,006 $13,826,052 $14,120,596 $14,421,030 $14,727,473 $15,040,044 $15,358,867 $15,684,067 $16,015,771 Percent Allocated to EIFD 20% 20% 5% 5% 5% 5% 5% 5% Amount Allocated to EIFD $157,930,876 $2,765,210. • $2,824,119 $721,051 $736,374 $752,002 $767,943 $784,203 $800,789 Total Revenues Allocated to EIFD $255,688,223 $5,091,381 $5,199,845 $1,266,963 $1,293,885 $1,321,346 $1,349,357 $1,377,927 • $1;407,069 The analyses,projections,assumptions.rates of return,and any examples presented heron are for illustrative purposes and are not a guarantee of actual andrar future results Propel pro forma and kos NI 0 tax analyseslec drn are pro6ons only Actual results may differ from those expresse this analysis. 3/21/2022 ^'^ t601 N Sepulveda Bird 14382.Manhattan Beach.CA90266 I (424)297-1070 I iwa.kosnwntcom Page 5 of 7 APPENDIX C: Rancho Cucamonta EIFD - Projected Tax Increment Revenue Analysis DRAFT 40 41 42 43 44 45 46 47 Total 2062 2063 2064 2065 2066 2067 2068 2069 New Development Rental Residential 10,253 units $317,440 per unit $3,575,048,904 • For Sale Residential 1,514 units $618,074 per unit $1,017,912,094 Commercial/Retail 922,000 SF $274 PSF $274,362,823 Office 222,000 SF $211 PSF $54,292,954 Hotel 171 units $162,000 per unit $29,852,790 Industrial 6,272,408 SF $172 PSF $1,139,938,574 Subtotal Value Add $6,091,408,138 $0 $0 $0 $0 $0 $0 $0 $0 Total Assessed Value $13,967,936,503 $14,247,295,233 $14,532,241,137 $14,822,885,960 $15,119,343,679 $15,421,730,553 $15,730,165,164 $16,044,768,467 Incremental AV $13,238,494,473 $13,517,853,203 $13,802,799,107 $14,093,443,930 $14,389,901,649 $14,692,288,523 $15,000,723,134 $15,315,326,437 Total tax increment @ 1% $132,384,945 $135,178,532 $138,027,991 $140,934,439 $143,899,016 $146,922,885 $150,007,231 $153,153,264 City Share Available 5.20% $254,670,163 $6,878,760 $7,023,915 $7,171,974 $7,322,994 $7,477,034 $7,634,155 $7,794,419 $7,957,888 Percent Allocated to EIFD 9% 9% 9% 9% 9% 9% 9% 9% Amount Allocated to EIFD $97,757,347 $619,088 $632,152 $645,478 • $659,069 : j$672,933 $687,074 • $701,498: $716,210 Fire District Share Equivalent Available 12.35% $605,473,006 $16,354,108 $16,699,213 $17,051,219 $17,410,266 $17,776,493 $18,150,045 $18,531,069 $18,919,712 • Percent Allocated to EIFD 5% 5% 5% 5% 5% 5% 5% 5% Amount Allocated to EIFD $157,930,876 $817,705 $834,961 5852,561 $870,513 $888,825 $907,502 $926,553 $945,986 Total Revenues Allocated to EIFD $255,688,223 $1,436,794 $1,467,113 $1,498,039 $1,529,583 $1,561,758 $1,594,576 $1,628,051 $1,662,196 The analyses.projections,assumptions,rates of return,and am examples presented herein are for illustrative purposes and are not a guarantee Of actual andror future results Project pro►orma and tax analyses are protections only.Actual results may differ f omthose expressed intlrs analysis. k m os 3/21/2022 "h t601N Sepulveda EOM K362.Manhattan Beach.CA90266 I (424)291-1070 I wymrkosinont Page 6 of 7 APPENDIX C: Rancho Cucamonta EIFD - Projected Tax Increment Revenue Analysis DRAFT • 48 49 50 Total 2070 2071 2072 New Development Rental Residential 10,253 units $317,440 per unit $3,575,048,904 For Sale Residential 1,514 units $618,074 per unit $1,017,912,094 Commercial/Retail 922,000 SF $274 PSF $274,362,823 • Office 222,000 SF $211 PSF $54,292,954 Hotel 171 units $162,000 per unit $29,852,790 Industrial 6,272,408 SF $172 PSF $1,139,938,574 Subtotal Value Add $6,091,408,138 $0 $0 $0 Total Assessed Value $16,365,663,837 $16,692,977,113 $17,026,836,656 Incremental AV $15,636,221,807 $15,963,535,083 $16,297,394,626 Total tax increment @ 1% $156,362,218 $159,635,351 $162,973,946 • City Share Available 5.20% $254,670,163 $8,124,626 $8,294,699 $8,468,173 Percent Allocated to EIFD 9% 9% 9% Amount Allocated to EIFD $97,757,347 $731,216 $746,523 $762,136 Fire District Share Equivalent Available 12 35% $605,473,006 $19,316,129 $19,720,474 $20,132,905 Percent Allocated to EIFD 5% 5% 5% Amount Allocated to EIFD $157,930,876 $965,806 $986,024 $1,006,645 Total Revenues Allocated to EIFD $255,688,223 $1,697,023 $1,732,547 $1,768,781 The analyses,projections.assumptions.rates of return,and any examples presented herein arc for �lustralive purposes and are not a guarantee of actual andror Mere results.Project pro forma and kos 111:11 tax analyses are protectwins only Actual results rnaydifer fromthose expressed in the anatysss. 3/21/2022 " "in 1601 N Sepulveda Bird a382.Manhattan Beach.CA90266 I (424)207-1070 ( irwwhosmoritcom Page 7 of 7 Appendix D: Rancho Cucamonga EIFD - Fiscal Impact Analysis DRAFT Overview of Fiscal Impacts Key Land Use Assumptions(Stabilized Year 25) Annual Year 0-50 Year 0-50 (Stablized Nominal Present Value Year 20) Total @ 3.0% Project Component City of Rancho Cucamonga For-Sale Residential 1,514 DU Estimated Fiscal Revenues(Net of Allocation of TI to EIFD) $25,486,770 $1,620,569,600 $650,817,300 Rental Residential 10,253 DU Estimated Fiscal Expenditures $20,218,100 $1,257,660,100 $505,229,600 Commercial/Retail 922,000 SF Estimated Net Fiscal Impact to City $5,268,670 $362,909,500 $145,587,700 Office 222,000 SF Industrial 6,272,408 SF Rancho Cucamonga Fire Protection District Hotel 171 rooms Estimated Fiscal Revenues(Net of Allocation of TI to EIFD) $5,795,350 $462,129,400 $171,640,900 Estimated Fiscal Expenditures $4,613,300 $286,979,900 $115,294,800 Estimated Net Fiscal Impact to Fire District $1,182,050 $175,149,500 $56,346,100 Notes: Assumes installation of necessary public infrastructure Values in 2022 dollars The analyses.projections. assumptions_rates of return.and any examples presented heresy are for ilustretrve proposes and are not a guarantee of actual andror future results Project pro forma arid t an analyses arc profectrons only Actual results may�defer from those expressed in the analysis. 3/21/2022 �C()Jllll J nw 1601N.Scpurveda Blvd rf362.Manhattan Beach.CA90266 I (424)297-1070 I IIWilitkOSMOIltco,n Page 1 of 1.6 Appendix D: Rancho Cucamonga EIFD - Fiscal Impact Analysis DRAFT • Summary of Estimated Fiscal Impacts to City and Fire Fund Stablized ear1 Year15 Year20 Year25 Year30 Year40 Year50 Stabilized Year 050 Year 0-50 Escalation Nominal Present Value 2027 2032 2037 2042 2047 2052 2062 2072 Rate Total 3.0% City of Rancho Cucamonga Revenues Property Tax $2,865,700 $3,858,000 $4,259,500 $4,702,900 $5,192,400 $5,732,800 $6,988,200 58,518,600 2.0%1 S262,298,600 $111,401,900 Property Tax Allocation to EIFD ($2,865,700) ($3,472,200) ($3,407,600) ($3,292,030) ($3,115,440) ($2,866,400) ($628,938) ($766,674) 2.0% ($102,186,600) ($57,115,000) Property Tax In-Lieu of MVLF $3,687,300 $4,983,700 $5,502,400 $6,075,100 $6,707,400 57,405,512 $9,027,277 $11,004,201 2.0% $338,719,400 $143,809,700 Property Transfer Tax $177,600 $250,300 S276,400 $305,200 5336,900 $371,965 $453,423 $552,720 2.0% S17,015,400 $7,227,400 Sales and Use Tax-Direct/OnSite $4,210,900 $5,091,700 $5,902,700 $6,842,900 57,932,700 S9,196,173 S12,358,888 $16,609,312 3.0%1 $428,828,8001 S173,618,900 Sales and Use Tax-Indirect/Off-Site $2,113,600 $3,082,000 S3,572,800 $4,141,900 $4,801,600 55,566,370 57,480,736 $10,053,484 3.0%1 S257,590,400 $103,455,900 Transient Occupancy Tax $792,300 $918,500 $1,064,800 $1,234,400 S1,431,000 $1,658,921 $2,229,451 $2,996,196 3.0%1 $77,389,300 S31,349,600 Prop 172 Half Cent Sales Tax $145,500 S188,000 $218,000 $252,700 $293,000 $339,667 $456,484 $613,477 3.0%1 $15,792,700 S6,374,600 Franchise Fees $940,200 $1,366,300 S1,584,000 $1,836,300 S2,128,700 S2,467,747 53,316,445 $4,457,025 3.0% $114,228,600 S45,891,600 Business Licenses(incl.penalties) S260,400 $338,000 S391,800 $454,200 $526,500 S610,358 S820,270 $1,102,374 3.0%1 $28,494,100 $11,558,100 Animal Licenses $35,200 S52,100 $60,400 $70,000 S81,200 $94,133 $126,507 $170,015 3.0%I $4,351,500 $1,745,700 Fines and Forfeitures $124,700 $181,300 $210,200 $243,600 S282,400 $327,379 $439,970 $591,283 3.0%, $15,154,400 $6,088,400 Use of Money and Property $192,900 $280,400 5325,000 $376,800 $436,800 $506,371 $680,520 $914,562 3.0%1 $23,439,600 $9,417,000 Charges for Services $453,000 $670,200 $776,900 $900,600 $1,044,100 $1,210,398 $1,626,674 $2,186,114 3.0%1 $55,956,600 I $22,448,300 Intergovernmental $26,600 $38,700 S44,900 S52,000 $60,300 S69,904 S93,945 $126,255 3.0% $3,235,900 $1,300,100 Other Revenue $416,700 $649,200 $752,600 $872,400 $1,011,400 $1,172,490 $1,575,728 $2,117,647 3.0% $54,272,600 $21,804,200 Transfers In $213,900 $310,900 $360,400 $417,800 $484,300 $561,436 $754,524 $1,014,017 3.03/4 $25,988,300 $10,440,900 Estimated Total Revenues ... $13,820,800 $18,787,100 $21,895,200 $25,486,770 $29,635,260 $34,425,225 $47,800,106 $62,260,607 ! I $1,620,569,600 t $650,817,300 City of Rancho Cucamonga Expenditures i Police S5,829,900 $8,472,700 39,822,200 $11,386,600 $13,200,200 S15,302,650 $20,565,481 $27,638,287 3.0% $708,336,100 $284,575,200 Non-departmental $546,000 $793,400 $919,800 $1,066,300 $1,236,200 $1,433,095 $1,925,959 $2,588,328 3.0%i 366,335,200 S26,650,100 City Council $12,800 $18,600 S21,600 $25,000 S29,000 $33,619 $45,181 $60,720 1 3.0%1 S1,556,200 $625,200 City Management $100,500 $146,000 $169,300 City Clerk $200 $196,200 $227,500 $263,735 $354,438 $476,334 3.0%1 572,207,800 $4,904,500 $300 $300 $400 $400 $464 $623 $838 3.0%1 S21,600 $8,700 • Animal Care and Services $312,100 $461,700 $535,200 $620,500 S719,300 S833,866 $1,120,646 $1,506,054 3.0%1 $38,549,700 S15,465,100 Records Management $48,400 $70,300 $81,600 $94,500 $109,600 $127,056 S170,753 3229,478 3.0%1 $5,881,200 $2,362,800 Healthy RC Program $60,700 $89,800 S104,100 $120,700 $139,900 $162,182 $217,960 $292,920 3.0%1 $7,497,500 $3,007,700 Community Affairs $51,100 $74,200 $86,100 $99,800 $115,700 S134,128 $180,257 $242,250 3.0%1 S6,208,300 52,494,100 Admin.Services-Admin $17,800 $25,800 $29,900 S34,700 $40,200 $46,603 $62,630 $84,170 3.0%1 $2,157,300 $866,800 Business Licensing $27,400 S35,500 $41,200 $47,800 S55,400 $64,224 S88,311 $115,995 ; 3.0%I $2,997,700 $1,215,900 City Facilities $94,000 S136,600 Finance $158,300 $183,500 $212,800 $246,694 $331,535 $445,556 3.0%. $11,418,700 $4,587,400 5148,900 $216,400 $250,800 $290,800 $337,100 $390,791 $525,191 $705,813 3.0%1 $18,089,000 $7,267,300 Innovation and Tech Services $364,800 $530,100 $614,600 $712,500 $825,900 $957,444 S1,286,725 $1,729,251 3.0541 $44,319,300 $17,805,500 Human Resources $55,600 $80,700 S93,600 $108,500 $125,800 $145,837 $195,992 5263,397 3.0% S6,750,200 $2,711,800 Procurement 524,800 $36,100 $41,800 $48,500 $56,200 $65,151 S98,152 $117,6701 3.0%1 $3,016,200 S1,357,700 Risk Management $27,800 $40,400 $46,800 $54,300r Treasury Management $600 $800 $1,000 $63,000 $73,034 582,025 $1 , 3.0%1 $3,379,800 51, , 00 $1,100 $1,300 $1,507 52,025 $2,722 3.0%i $69,800 $28,000 City Telecommunications $22,500 $32,700 $37,900 S43,900 $50,900 S59,007 $79,301 $106,573 1 3.0%j 32,731,400 1 31,097,400 Economic and Comm.Development $82,500 $120,000 $139,100 S161,200 $186,900 3216,668 $291,184 $391,327 3.0%I $10,029,300 $4,029,300 Building and Safety $178,000 $258,600 $299,800 3347,600 $403,000 $467,187 $627,861 $843,793 3.0%, S21,624,700 $8,687,600 Engineering $239,300 $347,700 $403,100 $467,300 $541,800 $628,095 $844,107 S1,134,409 3.0%1 S29,072.800 $11,679,900 Fire Facilities Maintenance $34,700 $50,400 $58,400 S67,700 S78,500 S91,003 $122,300 $164,362 3.0%1 $4,212,200 $1,692,200 City Facilities Maintenance $348,900 $507,100 $587,800 $681,400 $790,000 $915,827 $1,230,794 $1,654,085 3.0%+ $42,391,900 $17,031,000 Planning 3184,000 $267,500 $310,100 $359,500 $416,700 $483,070 $649,205 $872,477 3.0% S22,361,000 $8,983,600 Planning Commission $1,900 $2,800 $3,200 $3,700 $4,300 $4,985 $6,699 $9,003 3.0% $230,700 S92,600 Vehicle and Equip.Maintenance S110,100 $159,900 $185,400 S215,000 $249,200 S288,891 $388,245 $521,769 3.0% S13,372,100 $5,372,200 Street Maintenance $238,700 $346,900 $402,200 $466,200 $540,500 $626,588 $842,081 $1,131,687 1 3.0%1 $29,003,1001 511,651,900 Park Maintenance S295,200 $436,700 $506,300 $586,900 $680,400 S788,770 $1,060,041 51,424,607 3.0%1 $36,464,900 $14,628,700 Community Improvement $79,100 $115,000 $133,300 $154,500 $179,200 $207,742 $279,188 $375,205 3.0%1 $9,615,300 $3,862,800 Community Services $804,600 $1,169,300 $1,355,600 $1,571,500 $1,821,800 $2,111,966 $2,838,305 $3,814,445 3.0%_ $97,759,100 $39,274,800 Estimated Total Expenditures $10,342,900 $15,044,000 $17,440,400 $20,218,100 $23,438,700 $27,171,877 $36,516,731 $49,075,433 1 $1,257,660,100 1 $505,229,600 Estimated Annual Net Fiscal Impact $3,477,900 $3,743,100 $4,454,800 $5,268,670 $6,196,560 $7,253,348 $11,283,375 $13,185,174 i $362,909,500 i $145,587,700 Revenue/Expenditure Ratio 1.34 1.25 1.26 1.26 1.26 1.27 1.31 1.27 1 1.291 129 Notes: Assumes instatation of necessary public infrastructure Values in 2022 dollars Select years shown for illustration • The analyses,projections,assumptions.,rates of mum,um,and any examples presented herein are for 4l Lislta0Ne pi.jmsG5 anct are mot a 1A/tit Lice.of actual anQ/of future re*uN Projc*pro forma and A raw analyse.arm proracbons only.Actual results maydAar from thOCe eupretaserdn thso anatyas kos 3/21/2022 n1Q ,^rk, lbO1 N SepulvMaEaim*382.b$,anha6tanbea[h,CA90266 1 (424)29A-toTO 1 .wir.rao6narncan Page 2 of 16 Appendix D: Rancho Cucamonga EIFD - Fiscal Impact Analysis DRAFT Summary of Estimated Fiscal Impacts to City and Fire Fund Stablized ' Year 5 Yea,10 Year 15 Year 20 Year 25 Year 30 Year 40 Year 50 Stabilized Year 0-50 Year 0-50 Escalation Nominal Present Value 2027 2032 2037 2042 2047 2052 2062 2072 Rate Total 3.0% Rancho Cucamonga Fire Protection District Revenues Property Tax $6,272,400 $8,444,300 $9,323,200 $10,293,500 $11,364,900 $12,547,700 $15,295,600 $18,645,300 2.0% $574,110.900 $243,832,800 Property Tax Allocation to EIFD ($5,017,920) ($5,911,010) ($5,593,920) ($5,146,750) ($4,545,960) ($3.764.310) ($764,780) ($932,265) 2.0% ($152,329,600) ($88,401,900) Fire Fund-Other Revenues $332,100 $482,600 $559,500 $648,600 $751,900 $871,658 $1.171436 $1,574,312 3.0% $40,348,100 $16,210,000 Estimated Total Revenues $1,586,580 $3,015,890 $4,288,780 $5,795,350 $7,570,840 $9,655,048 $15,702,256 $19,287,347 $462,129,400 $171,640,900 Rancho Cucamonga Fire Protection District Expenditures Fire Fund(Non-General Fund) $2,362,000 $3,432,700 $3.979,400 $4,613,300 $5,348,000 $6,199,798 $8.332,010 $11.197.524 3.0% $286,979,900 $115,294,800 Estimated Total Expenditures. - $2,362,000 $3,432,700 $3,979,400 $4,613,300 $5,348,000 $6,199,798 $8,332,010 $11,197,524 $266,979,900 $115,294,800 Estimated Annual Net Fiscal Impact ($775,420) ($416,810) $309,380 $1,182,050 $2,222,840 $3,455,250 $7,370,246 $8,089,822 r r $175,149,500 r $56,346,100 Revenue/Expenditure Ratio 0.67 0.88 1.08 1.26 1.42 1.56 1.88 1 72 1.61 1.49 • Notes: Assumes installation of necessary public infrastructure Values in 2022 dollars Select years shown for illustration The analyses,projeetivars,assumptions,rates of refum,and are examples presented hereet a For �oust1altve purposes andarc notaWorarnerdawtudai Writ future re5ull5.Pro)ou pro raffia mil tan analycac are projection c only.Actual re zulf may d4for(corn those oxproesad in die analyars h o S 111 C?[," 160i1 N.Sepu lvM1a Ma,Ir38Z.Manhattan beach.CA 90266 I (424)297-1070 I ower Ii0sritentcOrn 3/21/2022 Page 3 of 16 Appendix D: Rancho Cucamonga EIFD - Fiscal Impact Analysis DRAFT Project Description Year 5 Year 10 Year 15 Year 20 Project Component 2027 2032 2037 2042 For-Sale Residential 1,034 DU 1,514 DU 1,514 DU 1,514 DU Rental Residential 8,186 DU 10,253 DU 10,253 DU 10,253 DU Total Residential 9,220 DU 11,767 DU 11,767 DU 11,767 DU • Hotel 171 rooms 171 rooms 171 rooms 171 rooms Commercial/Retail 876,000 SF 922,000 SF 922,000 SF 922,000 SF Office 22,000 SF 222,000 SF 222,000 SF 222,000 SF Industrial 6,172,408 SF 6,272,408 SF 6,272,408 SF 6,272,408 SF Annual Escalation Factor 2 0% 1.10 1.22 1.35 1.49 Estimated AN-SF Residential $618K Per Unit $705,605,362 $1,140,691,138 $1,259,415,188 $1,390,496,133 Estimated AN- MF Residential $317K Per Unit $2,869,024,452 $3,967,476,157 $4,380,414,262 $4,836,331,297 Estimated AN- Hotel $162K Per Room $30,585,246 $33,768,583 $37,283,245 $41,163,715 • Estimated AN-Retail $274 PSF $265,005,891 $307,952,122 $340,004,027 $375,391,919 Estimated AN-Office $211 PSF $5,125,143 $57,100,137 $63,043,165 $69,604,748 Estimated AN-Industrial $172 PSF $1,172,151,995 $1,315,117,221 $1,451,995,677 $1,603,120,553 Total Estimated Assessed Value $5,047,498,089 $6,822,105,358 $7,532,155,563 $8,316,108,364 Notes: Adjusted for value appreciation assuming 2% annual escalation rate (statuatory maximum). Conservatively assuming no mark-to-market valuations above 2% growth to account for property transfers Select years shown for illustration Values in 2022 dollars The analyses.pro racers assIJmplrc)ns rates of re ur n and are;examples presented horn arc fr r �Il 1 allVc praposes yrct or Et a d� iii(e aaGhml ni rtjror futuc it-ail . Fr Ulc..i pr L.franca rand!a•ana4,rse,are prolectnns only Actual•asults rnaydAfer from*cow.expresoed01 Ns anaha: 3/21/2022 kosm c u k, 1 bud 11 sepurle to eke! P.J132 Manhattan Mach.CA 90266 I ta241 29/-1 0 fU I vwlr Kosirwant con Page 4 of 16 Appendix D: Rancho Cucamonga EIFD - Fiscal Impact Analysis DRAFT Project Employment and Occupants Year 5 Year 10 Year 15 Year 20 Project Component 2027 2032 2037 2042 Industrial 6,172,408 SF 6,272,408 SF 6,272,408 SF 6,272,408 SF Commercial/Retail 876,000 SF 922,000 SF 922,000 SF 922,000 SF Office 22,000 SF 222,000 SF 222,000 SF 222,000 SF Hotel 171 Rooms 171 Rooms 171 Rooms 171 Rooms For-sale Residential 1,034 DU 1,514 DU 1,514 DU 1,514 DU Rental Residential 8,186 DU 10,253 DU 10,253 DU 10,253 DU • Estimated #Employees (FTE) Industrial 1.500 SF /emp 4,115 4,182 4,182 4,182 Commercial/Retail 400 SF /emp 2,190 2,305 2,305 2,305 Office 350 SF /emp 63 634 634 634 Hotel 1.5 room /emp 114 114 114 114 For-sale Residential 0 DU /emp 0 0 0 0 Rental Residential 50 DU /emp 164 205 205 205 Total Estimated#Employees(FTE) 6,646 7,440 7,440 7,440 • Occupied Dwelling Units 95% 8,759 DU 11,179 DU 11,179 DU 11,179 DU Residents 2.25 per DU 19,708 25,152 25,152 25,152 Employees Weighted at 50% 50% 3,323 3,720 3,720 3,720 Total Service Population (Residents+Empl.) 23,031 28,872 28,872 28,872 Occupied Hotel Rooms 75% 128 rooms 128 rooms 128 rooms 128 rooms Hotel Guests 1.5 per room 192 192 192 192 Notes: Average household size reflects City average household size and product mix of multifamily units Select years shown for illustration Values in 2022 dollars The analyses,projection,,assumptions.rates of return,and any examples presented herein are far • Awn-calve purposes and are not a guarantee of actual arKiror future results Pro"t pr o tonna and kosm tax analyse.;are proem-bons only .Ikeval results may Offer trornlhose expressed an this anatys�sril 3/21/2022 "^ 1601N.Sepulveda Blvd_0362.Mannattan bear h.GA90266 I (e24125r-16/9 I YAW/uosrrvmtcorn Page 5 of 16 • Appendix D: Rancho Cucamonga EIFD - Fiscal Impact Analysis DRAFT Property Tax Year Year10 Year15 Year20 Year30 Year40 Year50 2027 2032 2037 2042 2052 2062 2072 Estimated Assessed Value-Residential $3,574,629,814 $5,108,167,295 $5,639,829,450 $6,226,827,429 $7,590,467,890 $9,252,738,003 $11,279,035,996 Estimated Assessed Value-Non-Residential $1,472,868,276 $1,713,938,063 $1,892,326,113 $2,089,280,935 $2,546,821,801 $3,104,561,565 $3,784,443,224 Total Estimated Assessed Value $5,047,498,089 $5,822,105,358 $7,532,155,553 $8,315,108,354 $10,137,289,592 $12,357,299,558 $15,053,479,220 • Total Secured Property Tax General Levy 1.00% $50,474,981 $68,221,054 $75,321,556 $83,161,084 $101,372,897 $123,572,996 $150,634,792 Estimated Unsecured Property Tax as%of Secured Non-Residential Value 10.00% $1,472,868 $1,713,938 $1,892,326 $2,089,281 $2,546,822 $3,104,562 $3,784,443 Total Estimated Secured+Unsecured Property Tax $51,947,849 $69,934,992 $77,213,882 $85,250,365 $103,919,719 $126,677,557 $154,419,235 Distributions to Taxing Entities City of Rancho Cucamonga 5.52% $2,865,700 $3,858,000 $4,259,500 $4,702,900 $5,732,800 $6,988,200 $8,518,600 City Allocation to EIFD-Percent 100% 90% 80% 70% 50% 9% 9% City Allocation to EIFD-Dollar Amount ($2,865,700) ($3,472,200) ($3,407,600) ($3,292,030) ($2,866,400) ($628,938) ($766,674) Net Property Tax to City $0 $385,800 $851,900 $1,410,870 $2,866,400 $6,359,262 $7,751,926 Rancho Cucamonga Fire District 12.07% $6,272,400 $8.444,300 $9,323,200 $10,293,500 $12,547,700 $15,295,600 $18.645,300 Fire District Allocation to EIFD-Percent 80% 70% 60% 50% 30% 5% 5% Fire District Allocation to EIFD-Dollar Amount ($5,017,920) ($5,911,010) ($5,593,920) ($5,146,750) ($3,764,310) ($764,780) ($932,265) Net Property Tax to Fire District $1,254,480 $2,533,290 $3,729,280 $5,146,750 $8,783,390 $14,530,820 $17,713,035 • Notes: General levy distributions represent primary tax rate areas(TRAs)4000,4002,4004,4058,4083,4085,4008,4080 Does not include property tax overrides above 1%general levy Select years shown for illustration Values in 2022 dollars Source:San Bernardino County Auditor-Controller(2022) The amines.projections,assumptions.rates of return_and arc.'e?a?mptec presented herd are for rllustralrre purposes and are not a guarantee of Kagal andi'or future results Protect pro forma and tax anat'ses are protections only .Actual results mayd4fer from those expressed n firs anahsrs kos llon 3/21/2022 �.rri. 1601 N Seoutveda B heel A382 Manhattan Beach.CA 90266 I (424)297-tofu I ewar kcsrmnt corn Page 6 of 16 Appendix D: Rancho Cucamonga EIFD - Fiscal Impact Analysis DRAFT Property Tax In-Lieu of Motor Vehicle License Fees(MVLF) Total AV within CITY(FY 2019-20) $27,642,340,160 Current Property Tax In-Lieu of MVLF(2019-2020) $20,193,480 Prop Tax In-Lieu of MVLF per$1M of AV $731 Year 1 Year 5 Year 10 Year 15 Year 20 2023 2027 2032 2037 2042 • Estimated Project Assessed Value $65,405,338 $5,047,498,089 $6,822,105,358 $7,532,155,563 $8,316,108,364 Incremental Property Tax In-Lieu of MVLF to City $47,800 $3,687,300 $4,983,700 $5,502,400 $6,075,100 Net Incremental Property Tax In-Lieu of MVLF to City $47,800 $3,687,300 $4,983,700 $5,502,400 $6,075,100 Notes: Select years shown for illustration Values in 2022 dollars Source: San Bernardino County Auditor-Controller(2022) VII The analyses,pro}ecd$rr5,assum owls.ratty uT return.and any examples pr eser ued herein are far tus ryives eosu aroroe ser5 pojaeendfi oangess r010y a.A outaruala nrteeseu osf act areyd4 affnedr rfOrra ws ere eprflse sPse for and analysis. k o S 3/21/2022 (17 v""1" 1601 N.Sepulveda Blvd$4382.Manhattan Beach,CA 90266 I (424)297-1070 I trww.lcosnontccm Page 7 of 16 Appendix D: Rancho Cucamonga EIFD - Fiscal Impact Analysis DRAFT Property Transfer Tax Year 5 Year 10 Year 15 Year 20 2027 2032 2037 2042 . Estimated Assessed Value-SF Residential $705,605,362 $1,140,691,138 $1,259,415,188 $1,390,496,133 Estimated Property Turnover Rate 15.0% 15.0% 15.0% 15.0% Estimated Value of Property Transferred-SF Residential $105,840,804 $171,103,671 $188,912,278 $208,574,420 Estimated Assessed Value-Other $4,341,892,727 $5,681,414,220 $6,272,740,375 $6,925,612,231 Estimated Property Turnover Rate 5.0% 5.0% 5.0% 5.0% Estimated Value of Property Transferred-Other $217,094,636 $284,070,711 $313,637,019 $346,280,612 Estimated Value of Property Transferred-Total $322,935,441 $455,174,382 $502,549,297 $554,855,031 Total Transfer Tax $1.10 per$1,000 $35,522,900 $50,069,200 $55,280,400 $61,034,100 Transfer Tax to City $0.55 per$1,000 $177,600 $250,300 $276,400 $305,200 Notes: Select years shown for illustration Values in 2022 dollars Source: San Bernardino County Auditor-Controller(2022) The analyses,projections,assumptions,rates of return.and any examples presented heron are for ` alustraltve purposes and are nut a guarantee of actual antlfui future resulls Project pry forma and :txr analyze are proem-lions only.Actual results may differ those fer from cxprcssodin this anahias. 3/21/2022 hUSlll l�i,h, 1e01N. sepuvetlaBred_IK182.MannattanBeacn.cne0266 I (4241291-+0f0 I wwrtlasrnontcam Page 8 of 16 Appendix D: Rancho Cucamonga EIFD - Fiscal Impact Analysis DRAFT Sales Tax-Direct/On-Site Year 5 Year 10 Year 15 Year 20 Project Component 2027 2032 2037 2042 Retail SF 876,000 SF 922,000 SF 922,000 SF 922,000 SF Industrial SF Assumed to Generate Local Sales Tax Allocation 308,620 SF 313,620 SF 313,620 SF 313,620 SF Total Sales-Generating SF 1,184,620 SF 1,235,620 SF 1,235,620 SF 1,235,620 SF Estimated Taxable Sales $275 PSF $377,657,422 $456,656,886 $529,390,489 $613,708,669 Sales Tax to City 1.00% $3,776,574 $4,566,569 $5,293,905 $6,137,087 Use Tax as% of Sales Tax 11.50% $434,306 $525,155 $608,799 $705,765 Sales and Use Tax to City-Direct $4,210,900 $5,091,700 $5,902,700 $6,842,900 Notes: Analysis assumes approximately 10%of industrial uses will generate locally allocated sales tax. Based on Kosmont research, local allocation varies widely according to various factors, such as location of seller's registered office of business,location of goods at time of sale, and method of delivery to the customer. Sales may be allocated to the jurisdiction of the fulfillment center, the jurisdiction of the seller's registered office, or the Countywide pool. County sales tax for transportation based on Measure I(0.5%),Revenue and Taxation Code Section 7203.1 (0.25%) Does not include additional sales tax allocation for public safety from Proposition 172(collected by State BOE and apportioned to counties based on proportionate share of taxable sales) Taxable sales PSF factor escalated 3%annually Select years shown for illustration Values in 2022 dollars. ril The attllYses,projection*_assumptions,rates or rGUtn,and aver examples presented herein NC for dlulttrlrve purEaSeS and are not a guarantee al actual andror future results_Project pro room and IL tax analyses are projections only.Actual results rnaydifer(regattas, this analyses. kOSM3/21/2022 �inf-nr. 1601 N.SepoNedeeltwd 0382.Manhattan 8each,CA90266 I (424)207-1070 I •wf..toosmont_wtn Page 9 of 16 Appendix D: Rancho Cucamonga EIFD - Fiscal Impact Analysis DRAFT Sales Tax-Indirect/Off-Site Year 5 Year 10 Year 15 Year 20 • 2027 2032 2037 2042 Estimated#Employees 6,646 7,440 7,440 7,440 Estimated Annual Taxable Retail Spending/Empl. $6,701 $7,768 $9,005 $10,439 Estimated Employee Taxable Retail Spending $44,528,971 $57,792,325 $66,997,144 $77,668,052 Estimated Capture within City 50.0% $22,264,485 $28,896,162 $33,498,572 $38,834,026 Estimated#Occupied Dwelling Units 8,759 DU 11,179 DU 11,179 DU 11,179 DU Estimated Annual Taxable Retail Spending/HH $40,323 $46,745 $54,190 $62,822 Estimated Resident Taxable Retail Spending $353,187,309 $522,547,826 $605,776,148 $702,260,583 Estimated Capture within City 50.0% $176,593,654 $261,273,913 $302,888,074 $351,130,291 Estimated#Occupied Hotel Rooms 128 rooms 128 rooms 128 rooms 128 rooms • Estimated Annual Taxable Retail Spending/Room $21,157 $24,526 $28,433 $32,962 Estimated Resident Taxable Retail Spending $2,713,353 $3,145,520 $3,646,520 $4,227,316 Estimated Capture within City 25.0% $678,338 $786,380 $911,630 $1,056,829 Total Estimated Indirect Taxable Sales $199,536,478 $290,956,456 $337,298,276 $391,021,146 Less Estimated Capture Within District Retail (5.0%) ($9,976,824) ($14,547,823) ($16,864,914) ($19,551,057) Net Indirect Taxable Sales $189,559,654 $276,408,633 $320,433,362 $371,470,089 Sales Tax to City 1.00% $1,895,597 $2,764,086 $3,204,334 $3,714,701 Use Tax as% of Sales Tax 11.50% $217,994 $317,870 $368,498 $427,191 Sales and Use Tax to City-Indirect $2,113,600 $3,082,000 $3,572,800 $4,141,900 • Notes: County sales tax for transportation based on Measure I (0.5%), Revenue and Taxation Code Section 7203.1 (0.25%) Does not include additional sales tax allocation for public safety from Proposition 172(collected by State BOE and apportioned to counties based on proportionate share of taxable sales) Employee spending estimates based on"Office Worker Retail Spending Patterns:A Downtown and Suburban Area Study,"ICSC(2004). Household spending based on average houshold income within City. Hotel guest spending estimated based on American Hotel and Lodging Association(AHLA)data. Adjusted for inflation assuming 3%annual inflation rate. Select years shown for illustration. Values in 2022 dollars. The analyses,protections.assumptions.rakes of return.and any ex-armies pr wetted hertsn are for ill waist NC tlpct C p5G5 SAKI are l tat a ljUdrarries ad ad.tual drlll'u Wks 'bs'a e rp.'. Nano Pr alatl pt o nno and kO S A tax analyQec are propecbons only.hcttral recut%may differ frwrr those expr r-;ed in the anaysas. 3/21/2022 rh 16(i1N.sepalveeaBWl0382 Manhattan Beath,CA90266 I (424)29Z-11)79 t Inv*kosrttontcom Page 10 of 16 Appendix D: Rancho Cucamonga EIFD - Fiscal Impact Analysis DRAFT Transient Occupancy Tax("TOT")to City Year 5 Year 10 Year 15 Year 20 2027 2032 2037 2042 Estimated#Hotel Rooms 171 rooms 171 rooms 171 rooms 171 rooms Average Daily Room Rate(ADR) $174 $202 $234 $271 Average Occupancy Rate 73% 73% 73% 73% Annual Hotel Room Receipts $7,922,992 $9,184,919 $10,647,839 $12,343,763 TOT to City 10.00% $792,300 $918,500 $1,064,800 $1,234,400 Notes: Adjusted for inflation assuming 3%annual inflation rate. Select years shown for illustration. Values in 2022 dollars. • The analyses,projections,assumptions.rates of return.and any examples presented hens"are for auto alive purposes area are not a guaroutcc uT a�-loot ell idru1 TUva results.Prujec t pro fame and Llur analyse:are prolechone only..Actual results may Offer from those expressed in ties analyses. 3/21/2022 k C]S Ill Sl�4, �, 11501 N. SepulvedaBMd 1362.Manhattan Beach.CA 90266 I (424►29r-10W70 I warttosnlont can Page 11 of 16 Appendix D: Rancho Cucamonga EIFD - Fiscal Impact Analysis DRAFT Service Population City Population 175.131 City Employee Population 79.840 Employee Weighting for Service Population 0.5 Weighted#Employees 39,920 Total Service Population 215,051 • Source: CA Department of Finance, CA Employment Development Department (2021) • T The analyses.projections.assumptions.rates cif return.and any examples presented berm arc for illustrative purposes anal am not a guar anrtee d a(-truaI arldrclr RAve results Fro t pro Iona and kOSA 1 laor analyses are prg re ectsons orOy.Actual sults maydifeefmmtroe e.pres:adit this analyas 3/21/2022 • tool" sepunmaaeno $382 MannanartElearlt.CA902o6 (424)29/-1070 I wwttrosrnontcorn Page 12 of 16 Appendix D: Rancho Cucamonga EIFD - Fiscal Impact Analysis DRAFT Multipler Revenue and Expenditure Factors Years yearl0 yearl5 Year20 Relevant City Discount for Adopted City Population I Operational Per Capita Annual Budget Category Budget Allocation Basis Factor Efficiency Factor Escalation 2027 2032 2037 2042 Revenues Prop 172 Half Cent Sales Tax $735,370 As%of Total Sales Tax $31,965,020 0% 2.30% N/A 2.30% 2.30% 2.30% 2.30% Franchise Fees $7,572,760 Service Population 215,051 0% $35.21 3.0% $40.82 $47.32 $54.86 $63.60 Business Licenses(incl.penalties) $2,698,710 Per Employee 79,840 0% $33.80 3.0% $39.19 $45.43 $52.66 $61.05 Animal Licenses $270,000 Per Resident 175,131 0% $1.54 3.0% $1.79 $2.07 $2.40 $2.78 Fines and Forfeitures $1,004,750 Service Population 215,051 0% $4.67 3.0% $5.42 $6.28 $7.28 $8.44 Use of Money and Property $1,553,990 Service Population 215,051 0% $7.23 3.0% $8.38 $9.71 $11.26 $13.05 Charges for Services $3,472,090 Per Resident 175,131 0% $19.83 3.0% $22.98 $26.64 $30.89 $35.81 Intergovernmental $214,580 Service Population 215,051 0% $1.00 3.0% $1.16 $1.34 $1.55 $1.80 Other Revenue $3,598,000 Service Population 215,051 0% $16.73 3.0% $19.40 $22.48 $26.07 $30.22 Transfers In $1,722,910 Service Population 215,051 0% $8.01 3.0% $9.29 $10.77 $12.48 $14.47 Fire Fund-Other Revenues $2,674,960 Service Population 215,051 0% $12.44 3.0% $14.42 $18.72 $19.38 $22.47 Total Selected Revenues $25,518,120 Expenditures Police $46,958,580 Service Population 215,051 0% $218.36 3.0% $253.14 $293.46 $340.20 $394.38 Non-departmental $5,863,390 Service Population 215,051 25% $20.45 3.0% $23.71 $27.48 $31.86 $36.93 City Council $137,600 Service Population 215,051 25% $0.48 3.0% $0.56 $0.84 $0.75 $0.87 City Management $1,079,110 Service Population 215,051 25% $3.76 3.0% $4.36 $5.06 $5.86 $6.80 City Clerk $1,980 Service Population 215,051 25% $0.01 3.0% $0.01 $0.01 $0.01 $0.01 Animal Care and Services $3,189,380 Per Resident 175,131 25% $13.66 3.0% $15.83 $18.36 $21.28 $24.67 Records Management $519,850 Service Population 215,051 25% $1.81 3.0% $2.10 $2.44 $2.82 $3.27 Healthy RC Program $620,230 Per Resident 175,131 25% $2.66 3.0% $3.08 $3.57 $4.14 $4.80 Community Affairs $548,640 Service Population 215,051 25%- $1.91 3.0% $2.22 $2.57 $2.98 $3.46 Admin.Services-Admin $190,750 Service Population 215,051 25% $0.67 3.0% $0.77 $0.89 $1.04 $1.20 Business Licensing $378,360 Per Employee 79,840 25%. $3.55 3.0% $4.12 $4.78 $5.54 $6.42 City Facilities $1,009,270 Service Population 215,051 25% $3.52 3.0% $4.08 $4.73 $5.48 $6.36 Finance $1,598,930 Service Population 215,051 25% $5.58 3.0% $6.46 $7.49 $8.69 $10.07 Innovation and Tech Services $3,917,550 Service Population 215,051 25% $13.66 3.0% $15.84 $18.36 $21.29 $24.68 Human Resources $596,590 Service Population 215,051 25% $2.08 3.0% $2.41 $2.80 $3.24 $3.76 Procurement $266,770 Service Population 215,051 25% $0.93 3.0% $1.08 $1.25 $1.45 $1.68 Risk Management $298,600 Service Population 215,051 25% $1.04 3.0% $1.21 $1.40 $1.62 $1.88 Treasury Management $6,140 Service Population 215.051 25% $0.02 3.0% $0.02 $0.03 $0.03 $0.04 City Telecommunications $241,490 Service Population 215,051 25% $0.84 3.0% $0.98 $1.13 $1.31 $1.52 Economic and Comm.Development $886,470 Service Population 215,051 25% $3.09 3.0% $3.58 $4.15 $4.82 $5.58 Building and Safety $1,911,330 Service Population 215,051 25% $6.67 3.0% $7.73 $8.96 $10.39 $12.04 Engineering $2,569,690 Service Population 215,051 25% $8.96 3.0% $10.39 $12.04 $13.96 $16.19 Fire Facilities Maintenance $372,330 Service Population 215,051 25% $1.30 3.0% $1.51 $1.75 $2.02 $2.35 • City Facilities Maintenance $3,747,020 Service Population 215,051 25%. $13.07 3.0% $15.15 $17.56 $20.36 $23.60 Planning $1,976,590 Service Population 215,051 25% r; $6.89 3.0% $7.99 $9.26 $10.74 $12.45 Planning Commission $20,390 Service Population 215,051 25% ' $0.07 3.0% $0.08 $0.10 $0.11 $0.13 Vehicle and Equip.Maintenance $1,181,990 Service Population 215,051 25% $4.12 3.0% $4.78 $5.54 $6.42 $7.45 Street Maintenance $2,563,580 Service Population 215,051 25% $8.94 3.0% $10.36 $12.02 $13.93 $16.15 Park Maintenance $3.016,970 Per Resident 175,131 25% ' $12.92 3.0% $14.98 $17.36 $20.13 $23.34 Community Improvement $849,820 Service Population 215,051 25% $2.96 3.0% $3.44 $3.98 $4.62 $5.35 Community Services $8,641,020 Service Population 215,051 25% _ $30.14 3.0% $34.94 $40.50 $46.95 $54.43 Fire Fund(Non-General Fund) $38,050,430 Service Population 215,051 50% $88.47 3.0% $102.58 $118.89 $137.133 $159.78 Total Selected Expenditures $133,210,840 Notes: Major case study revenues not shown include property tax,sales tax,transient occupancy tax Nonrecurring licenses and permits excluded(e.g.building permits) Non-recurring charges for services excluded(e.g.plan check and engineering fees) Fire Fund other revenues excluding property tax Adjusted for inflation assuming 3%annual inflation rate. Select years shown for illustration. Values in 2022 dollars. Source:City of Rancho Cucamonga 2021-2022 Adopted Budget The analyses,pr0)elttens,assail]pews,orates of return,and any examples pre scnitcd herein are for dIust(alive purposes Sod are not a guarantee of actual andlar kilo.results Protect pro forma and AI tax analyses are projections orgy.Actual resuhs may de from those fro those expeessed it this analysis. K(_)SI11Otl - 3/21/2022 „enranl.a 1601N.Sepulveda Blvd.0362.1AarlhalbnBeach,CA90266 I (424)297-1070 I ewer ltostrontccen Page 13 of 16 Appendix D: Rancho Cucamonga EIFD - Fiscal Impact Analysis DRAFT Multipler Revenues and Expenditures • Year5 Year fO Year 15 2027 2032 2037 2042 Estimated*Residents 19,708 25,152 25,152 25.152 Estimated#Employees 6,646 7,440 7,440 7.440 Total Project Service Population 23,031 28,872 28,872 28.872 Budget Category 2027 2032 2037 2042 Revenues Prop 172 Half Cent Sales Tax $145,500 2188,000 2218,000 $252,700 Franchise Fees $940,200 21,366,300 $1,584,000 21,836,300 Business Licenses(incl.penalties) $260,400 2338,000 $391,800 $454,200 Animal Licenses $35,200 $52,100 260,400 $70,000 Fines and Forfeitures 2124,700 2181,300 $210,200 $243,600 Use of Money and Property $192,900 5280,400 $325,000 $376,800 Charges for Services $453,000 $670,200 2776,900 $900,600 Intergovernmental $26,600 238,700 $44,900 $52,000 Other Revenue 2446,700 2649,200 $752,600 $872,400 • Transfers In 3213,900 $310,900 $360,400 $417,800 Fire Fund-Other Revenues $332,100 $482,600 $559,500 $648,600 Total Multiplier Revenues $3,171,200 S4,557,700 S5,283,700 S6,125,000 Expenditures Police 25,829,900 $8,472,700 29,822,200 $11,386,600 Non-departmental $546,000 $793,400 $919,800 21,066,300 City Council $12,800 $18,600 $21,600 $25,000 City Management $100,500 2146,000 $169,300 $196,200 City Clerk $200 $300 $300 $400 Animal Care and Services 2312,100 $461,700 $535,200 2620,500 Records Management $48,400 $70,300 281,600 $94,500 Healthy RC Program $60,700 $89,800 2104,100 $120,700 Community Affairs $51,100 $74,200 286,100 $99,800 Admin.Services-Admin $17,800 225,800 $29,900 234,700 Business Licensing 227,400 335,500 $41,200 $47,800 City Facilities $94,000 3136,600 2158,300 2183,500 Finance 3148,900 $216,400 $250,800 2290,800 Innovation and Tech Services $364,800 $530,100 $614,600 3712,500 Human Resources 255,600 $80,700 $93,600 $108,500 Procurement 224,800 236,100 241,800 $48,500 Risk Management 227,800 $40,400 $46,800 $54,300 Treasury Management $600 $800 $1,000 $1,100 City Telecommunications 222,500 $32,700 $37,900 $43,900 Economic and Comm.Development 282,500 $120,000 $139,100 $161,200 Building and Safety $178,000 $258,600 $299,800 2347,600 Engineering 3239,300 2347,700 $403,100 $467,300 Fire Facilities Maintenance 234,700 250,400 $58,400 $67,700 City Facilities Maintenance $348,900 $507,100 2587,800 $681,400 Planning $184,000 $267,500 $310,100 $359,500 Planning Commission $1,900 $2,800 $3,200 $3,700 Vehicle and Equip.Maintenance $110,100 $159,900 $185,400 3215,000 Street Maintenance $238,700 2346,900 $402,200 3466,200 Park Maintenance $295,200 $436,700 $506,300 3586,900 Community Improvement 279,100 $115,000 $133,300 $154,500 Community Services $804,600 $1,169,300 $1,355,600 21,571,500 Fire Fund(Non-General Fund) $2,362,000 $3,432,700 $3,979,400 $4,613,300 Total Multiplier Expenditures $12,704,900 $16,476,700 S21,419,800 S24,1131,400 , Notes Major case study revenues not shown include properly tax sales tax transient occupancy tax Non-recurring licenses and permits excluded(e.g.budding permits) Non-recurring charges for services excluded(e.g.plan check and engineering fees) Fee Fund other revenues excluding property tax Adjusted for inflation assuming 3%annual inflation rate. Select years shown for illustration. Values in 2022 dollars. Source'.City of Rancho Cucamonga 2021-2022 Adopted Budget The analyses.projections,assumptions,rates of reium,and any examples presented herein are For WWI Om purposes and-are not a duararnee Of actual antro'future ahutls Project pro forma and kosA be analyse•'arc pro rc nx Only.Actual resuNo may-differ fenemthose expressed rt'Ns analyst's. 3/21/2022 1601N.Sep09IeoaBlyd.N362.Manhattan&eacfl,ICA90266 I l4af4)291-110f4 I WNW 0«sma,ccorn Page 14 of 16 Appendix D: Rancho Cucamonga EIFD - Fiscal Impact Analysis DRAFT IMPLAN Inputs Construction Inputs Approximate Inputs Industry NAICS Category (Industry Spending) 58-Construction of new multifamily residential structures $3,254,712,320 57-Construction of new single family residential structures $935,764,036 55-Construction of new commercial structures, including farm structures $327,172,000 51 -Construction of new manufacturing structures $1,078,854,176 ' Ongoing Operation Inputs Approximate Inputs • Industry NAICS Category (Employment Change) 470-Office administrative services 634 Jobs 412 - Retail-Miscellaneous store retailers 2,305 Jobs 422-Warehousing and storage 4,182 Jobs 448-Tenant-occupied housing 205 Jobs 507-Hotels and motels, including casino hotels 114 Jobs • The analyses. projedions- asstrnp6ons, rates of return, and any examples presented herein are for illustrative purposes and are not a Buararltee d actual andor future results. Project pro torma and tax analyses are proeecnons only.Actual resits rimy differ from those expressed in this analysis. K n S AILI O p+nK. 3/21/2022 1801 N Sepulveda BMA 0382,Manhattan Beach. CA 90266 I (424) 458-X68 I vnuwkosariont corn Page 15 of 16 Appendix D: Rancho Cucamonga EIFD - Fiscal Impact Analysis DRAFT • Summary of IMPLAN Economic Benefits Economic Benefits from Construction (One-Time/Short-Term) Employment Labor Income Economic Output Direct(On-Site) 53,072 $3,590,719,145 $5,596,502,532 Indirect 4,416 $233,897,654 $705,771,484 Induced 11,965 $556,461,858 $1,812,629,755 Total Countywide 69,452 $4,381,078,657 $8,114,903,770 Estimated City Capture 53,891 $3,630,237,121 $5,722,422,594 Economic Benefits from Ongoing Operation (Annual) Employment Labor Income Economic Output Direct(On-Site) 7,440 $323,914,005 $757,152,868 Indirect 1,411 $66,532,298 $202,224,372 Induced 1,163 $54,129,137 $176,526,832 Total Countywide 10,015 $444,575,439 $1,135,904,072 Estimated City Capture 7,569 $329,947,077 $776,090,428 Notes 100% of direct benefits estimated to be captured on-site within the City. 5% of indirect and induced benefits estimated to be captured off-site within the City. Estimated ongoing benefits upon build-out and stabilization. The analyses, proiediors, assumptions, rates of return, and any examples presented herein are for • inustranve purposes and are not a guarantee of actual andror future results Protect pro tonna and tax analyses are praeectiorrs only. Actual resets may differ tram those expressed in this analysis. 3/21/2022 �n tT1C �*, 16ot 14 Sepulveda Blvd #392 Manhattan Beach, CA90266 I (4?4) 456-3988 I wwwkosmontcarn Page 16 of 16