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Home My WebLink AboutFD 2022-011 - Resolution • RESOLUTION NO. FD 2022-011 A RESOLUTION OF THE RANCHO CUCAMONGA FIRE PROTECTION DISTRICT BOARD OF DIRECTORS APPROVING THE INFRASTRUCTURE FINANCING PLAN FOR THE RANCHO CUCAMONGA ENHANCED INFRASTRUCTURE FINANCING DISTRICT AND THE ALLOCATION OF THE FIRE PROTECTION DISTRICT'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 EIFD; 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. FD 2022-011 - 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 February 16, 2022, the Board adopted Resolution No. FD2022-003 declaring that the District intends to participate in the Rancho Cucamonga EIFD as described in the Resolution of Intention as a taxing entity providing that the Board approved the IFP at a later date; 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 Board 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 District in accordance with Government Code Section 53398.75 as set forth in the IFP; NOW, THEREFORE, the Board of Directors of the Rancho Cucamonga Fire Protection District hereby resolves as follows: Section 1. The facts set forth in the Recitals of this Resolution are true and correct. Section 2. The Board hereby approves the IFP for the Rancho Cucamonga EIFD substantially in the form presented to the Board and attached hereto as "Exhibit A", including, but not limited to, the specification of the maximum portion of the incremental tax revenue of the District 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 District Secretary and all other officers and agents of the District, are hereby authorized and directed to take all actions necessary or advisable to give effect to the transactions contemplated by this Resolution. Resolution No. FD 2022-011 - Page 2 of 3 Section 4. This Resolution shall take effect immediately upon its adoption by the Board and the District Secretary shall cause a copy thereof to be forwarded to the PFA. Section 5. The District Secretary District shall certify to the adoption of this Resolution. PASSED, APPROVED AND ADOPTED this 18th day of Mav, 2022. L. n ' Michael, ( ident ATTEST: II. ) .I,c.L e• 66/44-,dam J'ice C. Reynolds, Clerk I, JANICE C. REYNOLDS , SECRETARY of the Rancho Cucamonga Fire Protection District, do hereby certify that the foregoing Resolution was duly passed, approved, and adopted by the Board of Directors of the Rancho Cucamonga Fire Protection District, at a Regular Meeting of said Board 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. r. leceppala Jeenice C. Reynolds, Clerk Resolution No. FD 2022-011 - Page 3 of 3 Exhibit A Infrastructure Financing Plan of the Rancho Cucamonga Enhanced Infrastructure Financing District -4- • CITY OF RANCHO CUCAMONGA ENHANCED INFRASTRUCTURE FINANCING DISTRICT • C INFRASTRUCTURE°FINANCING PLAN • • ° ° d Prepared For: ❑ ❑ ❑ ❑• 53 0 u The City of RanchotCucamonga ❑ ❑ ❑ ❑ ° E. • • 6 C E. ❑ 51 ❑ b ❑ °©`CQ °C6n rrrr 6'0 CI �rf CITY OF ❑ ° ❑ _ ❑ 61 oC 13 °0 RANCHO • ❑ C o \ ❑ C P G C '6 ❑ ` ° ElCUCAMONGA C ❑ • ° ° ° - ❑ ❑ - Prepared By: c c" v • ❑ ❑ 4 C • C a ° tl A ElS 4 ❑ ❑ o 0 • CI ❑ ❑ ❑ v ° ° p kosmon " • ❑ ❑' companies a❑ ❑ u O r_ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ° . 0' • • 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 o° ° 7 • 9 .° 3.0 Description of Proposed Facilities and Development 8 4.0 Finding of Communitywide Significance °Q❑.° •n •_ 12 5.0 Financing Section n, °,`_ 13 6.0 Removal of Dwelling Units and Replacement Housing Plan 6 18 ❑ 7.0 Goals of the District .°.: 19 v •a• ❑ ❑' 8.0 Appendices 20 13 Index of Appendices \ ❑ a ° \ Appendix A: Map of Boundaries of the Rancho Cdcdmonga EIFD (draft/placeholder) Appendix B: Legal Descriptiomf the Rancho'Cucamonga=EIFp (draft/placeholder) Appendix C: Projected Taxincrement RevendeAnalysis Appendix D: Fiscal Impact Analysis a a ❑ Appendix E: City General Plan Environmental Impact Report 9 A ❑ ❑ • •° a 9 ❑ a 9 v 9 ° • ❑ 9 9 9 p. 9 a a ❑ ° ❑ o en ❑ - ® n ° ❑ ,c ❑ 'r 9 r • The analyses,projections,assumptions,rates of return,and any,examples presented herei<r arc far -- illustrallve purposes and we not a�uaranlee of actual andr0r future resNls.Project pro forma and • tax analyses are projections only.Actual results may.dffer from those expressed in this analysis_ • kosn�on9,�- i 1601 N.Seputvada Bi`v!#3B2.Manhattan Brach,CA 902E6 I (424))297-1070 I a err.Roaniont.corn • • • Rancho Cucamonga EIFD Proposed Infrastructure Financing Plan April 2022 Page 3 • 1 .o 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 Jay the City Council on February 16, 2022, the City Council of the City establisheikthe"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 Februarar-16, 2022 and the EIFD Law, the Rancho Cucamonga Fire Protection District ("Fire District") decctared its intention to participate in the 1. Rancho Cucamonga EIFD and newly formed PFA. ° ta ❑ a ❑ a ° 6 O G � p ❑, ❑ c At its inaugural meeting on March 8, 2022, the PFA❑directed its Executive Director, who is the City Manager of the City, rto❑prepare an irfrastructue❑financ cing°plan ("IFP") for the Rancho o n ° ❑ ❑ a o � Cucamonga EIFD. _ a Purpose of the Rancho Cucamonga EIFD. The`Rancho Cucamonga EIFD is intended to serve as a catalyst for private sector irive❑st(heht and critical public infrastructure with transformative potential for the Rancho Cucampnga EIFD area and the City as a whole.The Rancho Cucamonga EIFD encprnpasses,approximately 1,500 acres of land, representing approximately 6.0% of the total approximately 25,07 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 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 anolyscs,projccticas,assumptions,rates of rccurn,and army cramPlcs presented herc n are for • illustrelive purposes and are not a guarantee of Waal andror future resells.Project pro formaaaw 1� • 11-� tax analyses era prOections only.Actual results may differ fromthose c rpressed in ibis analysis. " 1.601N.�imp ulirpdablvt#3B2,ManhattanUeacn,CA902e.6 I (424)297-107D 7-taw,'a.f4osmontcnsie • 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. c) A finding that the development and financial assistance are of communitywide significance and provide significant benefits to an area Jame!than the area of the District. This information is included in Section 4 of this IFP..'°° G \ O d) A financing section(included in Section 5 of this'IEP), 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 committed to'the District for each"' year during which the District will receive incremental taz revenue. The portion may change over time. Section 5.1 apd jTable 3 of this°IEP"details the maximum portion of the incremental property tax°revenue of the City-and Fire District proposed to be committed to the District throughooupthe duration`of the District lifetime, which is projected to be forty-five (475) years from=the date on.which the issuance of bonds is approvedbythe PFA. In summary,'the maximum portion of the City's property tax increment ig :1.0.0% for initiar 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,bpthe District, decreasing in a gradual manner to °"❑eapproximately❑5% at District terrnihation. The proposed contribution scenario is tI °u o intended to focus on funding debt service for bonds issued approximately four to ❑ ❑ D. six years,°following•.District formation, as well as maintenance of funded °❑o"" infrastructurepimprovements. "4 A projection of the amount of.tax revenues expected to be received by the District ❑inheach year°during which the District will receive tax revenues. Section 5.2 and Table3 of°this IFP includes a projection of tax revenues to be received by the District'b❑y,year over the course of the District's lifetime, as described in the r 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 irony ses,projections,assumptions,rates of return,and any exurnplcs presented hack;arc far , illuSErative purposes and are root:a gearantee of aela l androrfulure pesrhlts.Project pro rom a and tax analyse.;are projections only.Actual results may defer from those expressed n this analysis. kOsill Mill'" 1601 N.Sepulveda Btiz8.N362,Manhattan Beach,CA 90260 I (424)297-t070 I vwrv.[sosmontcom • 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 thgmay be allocated to the District pursuant to the plan. The total number of dollars:of taxes that may be allocated to PI 0 the District shall not exceed $500,000,00,0 in nominal doljars. ' 5) A date on which the District will cease'to exist, by which tirne`all tax allocation to the district will end. The date shall°riot"be more than 45 yearssfrom the date on which the issuance of bonds is approved pursuant to subdivision°(a) of Section o ° ❑ 53398.81, or the issuance of a loanisrapproved`by the governing board of a local agency pursuant to Section 53398.87. h°ve District will cease to exist on the earlier of: (i) forty-five (45) yea°rs :from the date,On which, the issuance of bonds is approved by the PFA, or(ii) Jun'e 30, 2072. This IFP assumes that the District will be formed in Fiscal Year 2621-2022-and will begin,receiving tax revenues in Fiscal Year 2022-2023. . ° cED ❑ a ❑ b ❑ r .❑ 0 0' 6) An.analysis of the°cdsts to the❑City 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 a a e o ❑ ❑ c expected to❑be'receivedaby, the City°as a result of expected development in the 7°°ores of the'District. Appendix Ddto this IFP includes, as part of the Fiscal Impact Analysis, an analysis of the costs to the City for providing facilities and services to ° Lithe area rof°the District. Appendix D also includes an analysis of the tax, fee, ° ° charge, aridi other r ` PIevenues expected to be received by the City as a result of °v 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 ❑ ousts 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 L! F 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,projections,assurrtptioris,rates of return,and arry examples presented herein are far illu5trattue purposes and sae root a r�trarantee of aclril andror Wherer4sull5.Project pro Parma and ko s O tax analyses are projections only Actual results maydtlfer from Those expressed Fri this anafysis_ m rX"'M 1601 N.Sepulveda Blid.#3t32,Manhattan Beach;CA90266 I (424)297-1070 l-usirk[rrmontcrnm • • Rancho Cucamonga EIFD • • 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 may be incurred by reimbursing a developers of,ra, project that is both located entirely within the boundaries of the District and qualifies for the Transit Priority Project Program, pursuant to Section 65470: e) If any dwelling units within the territory of the-district are proposed!,to be removed or destroyed in the course of public worksgcoristruction within the area;Hof the district or private development within the area of the district that is subject to a written agreement ❑ 6 Cl P with the.District or that is financed in whole or 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' .RThe PEA does' not anticipate that any housing units • will be removed as a result of any,project identified in thk❑is IFP. However, if any relocation 6 of dwelling units is deemed to be'require° rn' the future❑for a project financed by the District, the PFA will,-comply withe"the requirements;, of Government Code: Section 53398.56. °❑°° n©' °P° ❑ . ® o q, q 11 f) The goals the District proposes to achieye.for each project financed pursuant to Section 53398.52. Section 7 of this,[FP summarizes the goals of each project to be financed by n°q ° ® C the District. ❑ G ° ° a ❑ s ❑ q n❑ L ❑ C v C q P, [. 5 Ca A ▪ a • °. 0 c ° ❑ ❑ O 7 q • p ❑ ❑. .. • C \ q • 0 a V • 0 c d • ❑ ❑. • ❑ C" e • ❑ ❑ • q q q q • ❑'. ° q • ❑ ❑ a. • a ° The aaalyscs,projcctiams,assumplions,rates of velum,and any examples presented herein are Far • illu�4ralive preposes araf are not a rraranlee of actual andror future results.Project pro forma and tax ariaVses arc projections only.Actual results meydiNer framthose expressed in this analysis. . kb Smog f601 N.Saitutve. da Bhd.H362,Manhattan Beach,c4 9026 I (424)297-1O7h Fre.itesrrtantsont p,P Px • • .. 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. , ❑❑ e a ' • v Land use designations in the. District primarily include residential, colnmercial / hotel / retail / ❑ •asn office, industrial, and several"public use parcels. Appeendix A includes map of the proposed District, and Appendix B is a legal description of the"[distfrict. '. o ❑ ❑ ❑ a • ❑ e ❑ ` n ❑ •C M U 6 ❑ ❑ H a n 'D ❑ L e c ❑ n v 0 r ❑ L. a a c ❑ c e ❑ ❑ ❑`o ® ❑ ❑ O 6 ❑ n ❑ n . ry .❑ . . C 9 a • . ./ ®. `n ', ❑ V H ❑ ❑ a e ❑ c o . a n e n ❑ •v _ ❑e ❑ r, n o v n ❑ ' y ❑ a ❑ L. .. C ❑ V e • ❑ n C J ❑ ❑ n ❑ v © c ❑ ❑ • ❑ c ❑❑ e ❑ _ a c ❑ n U • C. c ❑ s a ❑ ❑ :The analyses,projections,assum fgions rates of Whim,and any examples presented herekt are fee illustrative purposes and are l'ot a agoarantee of actual andror future uesulls.Project pro ionria ar t • tax analyses are projcctfons only:Actrsil results may defer from those exprrsscd it'r this analysis. mon .kos .„",i 4-= 1601 N.Sepulveda f fra.#362,Manhaltan Beach,f A 002E6 (424)297-1070 I lavik.Kosmontcom • 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 a ° 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.. L G a ❑ 6. a El ae. • Table 1:Anticipated Future Private Development q c Cr L ° Estimated AV at •Development Type SF/Units ❑a? AV Per SF Unit ,Buildout 2°a° (2022 Nominal v ° ❑ Value) For-sale Residential 1,514 units 618',074 per unit $936 million Rental Residential 10,25a units $317:,440 per unit $3.255 billion Commercial/-Retail 922,006 _ $274 PSF $253 million Office 222,000'SF :°.°° $211 PSF . ' $47 million Industrial �' °°6,272,400 SF , ❑° $1°72,.PSF $1.079 billion Hotel .'❑° ;17.1 roomsa ®° $162,000 per room.. $28 million Estimated Total , • ° ❑° °❑ $5.597 billion Source: City of Ranch'b Cucamonga Planning and Economic Development Staff, CoStar Property(2022) a a v _ 05 a J a CC a v v a a r a v a ~a a. •0 ❑ 6. a ❑ O 3.2 Public Facilities to be Financed with Assistance from the Rancho Cucamonga EIFD a c a a ❑ v 0 El The EIFD Law authorizes❑❑ 6the Ranchg Cucamonga EIFD to finance the purchase, construction, a a expans'iori,❑improvement, seismic retrofit, or rehabilitation of any real or other tangible property m ❑ with anestimated useful lifeof'15 years or longer, if they are of communitywide significance and provide significant benefits to the Rancho Cucamonga EIFD or the surrounding community. a ° ° ❑ a a a r The PFA intends to utiliz_e^the District to fund infrastructure projects of communitywide significance that provide significar tr 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 analyses,projections,assumptions,rates of return,and any examples presented herein are for illuStra1lve purposes arid age rant a gotraptee oT actual andror futare resUlls.Project pro forma arat' kos o tax analyses arc projections only.Actual results maydffer from those expressed in this analysis. un-t=�"I> 1601 tt.Sepulveda Bted.#362,Manhattan Beach,CA 90266 I (124)297-4010 I ww.ttcosntontcera : . 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 Estimated Total Priority Projects $60i00'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 and°are projects of communitywide significance that provide significant benefits to the district°.okhe surrounding community° The Rancho Cucamonga EIFD may also finance the ongoing of 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 la connection to the work of the Rancho Cucamonga EIFD. The Rancho Cucamonga EIFD will also finance planning and design activities that are`directly.-related°td Lthe purchase, construction, expansion, or rehabilitation pf these projectVProjects,financed jay the Rancho Cucamonga EIFD may include, but not be limited to,°all of the following: • Highways, interchanges, and;ramps; °° ° ° ° ° • Bridges; ° • Arterial streets; °°• . °°.°°. • Parking facilities; ° ° .°. - ° ° o • d .° .a .0 ° ° ° • „Transit facilities; • 0 •�° Parks, recreational facilities, and open space; •• 'Sewage treatment and water reclamation plants and interceptor pipes; • 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;: °El ° • Storm water con©eyance 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 or return,and airy examples presented hercar ore fey. illuSEratrve purposes Mid are rxrt a Ou�9ranlee of actaral and(or future results.Projeet pro rearm A tax anaTp�cs arc projacirons on'.Pctuial resufls maydiffar tram those expressed tfas analyses kosmon„ ,� . . . r 1601 N.Sepulveda SlorL p382,Manhattan Beach,CA 90255 I (d24)29T-l070 I • valr sniontemn • • Rancho Cucamonga EIFD Proposed Infrastructure Financing Plan April 2022 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 e c fostering economic recovery from the COVID-19 pandemic and of ensuring the long-term economic sustainability of small businesses; ,"❑a ®❑ • Projects that enable communities to adapt to the impacts of climate,change, including, but not limited to, higher average temperatures, decreased air and wafer quality, the spread a• a \ ❑ of infectious and vector-borne diseases, other public health impacts,°extreme weather events, sea level rise, flooding, heat wavesFwildfires, and drought; ' '° 6 ❑ p • Facilities in which nonprofit community organizations pro"vide health,youth, homeless, and a. . ❑ a social services. 1. ° 19 a a a ❑ L➢ 6 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 of"property„°including, but not limited to, the cost of environmental evaluation.and'engineering and'surveying costs{environmental remediation costs; construction staking costs; utility relgcation arid,demolition costs incidental to the construction of the facilities; costs.dfiegal services;,and costs of-project/construction management. v ❑ a C ®. ® n. 4 a In addition, the Rancho:_Cucamonga:EIFD°may finance any other expenses incidental to the n ° formation, administration' and°implementation of the Rancho Cucamonga EIFD and to the construction, completion„inspection and acquisition of the authorized facilities, including, but not • limited sto, the costs of°creationaand administration of the Rancho Cucamonga EIFD; costs of 13 Is issuance,of bonds or other'debt 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;°financing costs of improvements incurred by developers until reimbursement for the costs of the improvements from the Rancho Cucamonga EIFD; costs incurred by the City, a a ■ ❑. n. .•. ' 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,attorney's • fees or any other expenses incidental to the implementation of the Rancho Cucamonga EIFD. - The aralyscs,projections,assumplioris,rates of return,and any examplas presented hcrdn are far • illustrative ptaposes and are oat a gierantee of actual andror Tutrere results:Project pro roma and tax analyses arc projections only.Actual results maydffer from those expressed in this analysis. kosi•non 1601N.5eputvedaBA'd.032,Manhattan Beach,CA90266 I (424)29Z-407D i••aw,r.Fcesrnont.com • Rancho Cucamonga EIFD Proposed Infrastructure Financing Plan April2022 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 implementrthe'improvements identified above, potentially including grant sources, complementary district formation (e.g., Mello-Roos Community Facilities District), impact fees, private sector investment incentivized by the formation of the Rancho Cucamonga EIFD itself, and/or other sources.,,°n °°a . ° B. ❑ n s Private sector developers will be responsible for funding project-specific /fair-share / in-tract infrastructure. Some public facilities included, in °the Rancho Cucamonga❑EIFD area are anticipated to be provided by governmental entities without assistance from the District. There are no public facilities anticipated to be provided joinbtly° n by'tI a private sector and governmental a entities; however, it is possible that..private sector developers may advance funding for ❑ J improvements, and those advances mayt e;partially reimbuFsed with EIFD proceeds. Such case- specific specific agreements would come before the PFA for approval at the appropriate time. a • n In accordance with Government Code Section 5336'8.69°=the Rancho Cucamonga EIFD may o c ❑ e n n n ❑ expend up to 10 percentaof any accrued tax increment in the first two years of the effective date of the Rancho Cucamonga EIFD or planning and dissemination of information to the residents within the Rancho Cucamonga EIIeD 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 n n e u c n ❑ n eligible costs. _ ❑ ° a a a. .a `n n° ❑ L. a a a a In addition, in accordance with Governmentn Code Section 53398.76, costs incurred by the County 0 ❑ n fan of San Bernardino in connection with`the division of taxes for the Rancho Cucamonga EIFD are eligible to=tie paid by the Rancho Cucamonga EIFD. ° a ❑•n' ❑ ❑ a C ❑ n ❑ r ❑ ° ❑ a c a 0 a P, n ° ^, P The analyses,projections,assumptions,rates of return,and any examples presented here n are Far i11uiEtilrve pwpeaes and are a at a,�3ratlt@C oT actual andror TUlare results.Projact pro rarnta arty) tax analyses arc projections only.Aahaa1 results maydtFfcr from those axpresscd fn ttis analysis. kosmon vu"'tx"'ti, 1601 FL Sepulveda Bkil#332,Manhattan Beach,CA'90266 I (424)28T-1070 ti6ttr.kr!nant.cont • • 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. ❑ 9 a v v The District supports job creation, housing production, improvement of quality of life, and promotion of environmental sustainability. ❑ ' ❑ ❑ '❑ ❑ LE ❑ v 9 . ❑ '9 9 El G Specific communitywide and regional benefits anticipated to be generated by the District include: • " Approx. $146 million in net fiscal impacf to the City over 50 years (on'a°present-value basis) ❑ 6 ° ° • Approx. $57 million in net fiscal impact to the"Fir▪l`e District over 50 years (on a present- value basis) 9°❑ • Approx. 11,767 housing units within the❑District upon buildout and stabilization ❑ 6 • 69,452 direct; indirect, and induced rtemporary,; ❑onstructio¢ elated job-years2 in the City ❑ ° and County - ° ° ° GILI El D • 7,440 direct, permanentjobs in the City upon buildout and stabilization • 2,575 additional,indirect and induced'permanent jobs in the City and County (total of • 10,015 diredl,°indirect, and induced jobs)upon buildout and stabilization • $8.115 billion in°eco.nomic°outputfrom con'stPuction in the City and County • $1.136 billion in annual@ongoing economjc output in the City and County upon buildout ,and'sfiabilization. °❑ . a o ¢ ° a a ❑ ❑ - ❑ - ° .❑. • ❑ a • ° • ❑ \ ❑ • a • c ° °C • a ❑. • 9 ° n • ❑ a • .P v • a a a • a a a . • a .a ¢ • .. 9 • ID '—A 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. - Tho analyses,projections,assumptions;rates of rcAuin,and any examples presented herein arc fair .• illustralive proposes and 8Ge'Iota guarantee of actwl andrortuta re cesUlls.Project pro forma and tax analyses arc projections only.-Actual results may differ from chose expressed in this analysis. KOSII1011 • 1i°rx°i4` 1601 N.Sepulveda 51614.#302,Manhattan Beach,CA 9026n I (424)29/4070 1 a tirs.taosetantcom • 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 allocating property tax increment to • • the District at this time. It is anticipated that property tax incremental be utilized on both a "pay- ' a ❑ . as-you-go" basis as well as security for tax increment bond islsuance�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"TEIFfD Law, refer to the portion of future property tax revenue described jn•Section 53398.75(a)(2) of`the.EIFD Law, i.e., the difference between (A) and (B) in the followind.formula: c• `\;° 4 CI 0 13 (A) the taxes that would be produced by the rate uponcwhich the tax is levied each year during the term of the Rancho Cucamonga Eli'upon the total sum pf the assessed value of the taxable ❑ a ❑ property in the EIFD in each such year minus.°„e® \ °❑ 6 C C • Z. < ❑ C (B) the taxes that would Abe.produced by°the rate°upon which the tax is levied upon the total • sum of the assessed value of tfie.'taxable property in the Rancho Cucamonga EIFD as shown . upon the last equalized roll prior to the effective'date of the resolution adopted pursuant to Section 53398.69 of the ElFD Law to create The Rancho�Cucamonga EIFD. • In the case of the Rancho Cucamonga EIFD,:the°resolution adopted pursuant to Section 53398.69 was [is expected.to'be] adopted on July 19, 2022, and the last equalized roll prior to the effective • date of`that resolution`is•the roll'for°Fiscal Year 2021-2022. Fiscal Year 2021-22 is referred to as the "baseyear. 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". Wa ❑ ° a G 6 ❑ re ❑ F Overlap with°Bopndaries:of former Rancho Cucamonga Redevelopment Agency. The Rancho CucamongaEIFD}includes overlap with former Redevelopment Project Area boundaries tl 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,pnajcc inns,assumptions,rates of Mum,and any examples presented herein are for tlll tr ue proposes and are neta gairantee of actual endfor'future results.Project pro Pi ma and �, taxana?,e are projections only:Actual rraaults maydtffer from those expressed fir this anatysrs. �CO SI110 I �� 1801 N.Sepulveda Blvd.#362,Manhattan Beach;CA 90285 I ON)297-l07fl'I:11;m nonanteom Rancho Cucamonga EIFD 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 Gduuation of the.District lifetime. In . . summary, the maximum portion of the City's property tax it cremerit.is 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 dri,a gradual manner to approximately 5% at District termination. The proposed contribution:'scenario is intended to focus°olLfunding debt Cl CI service for bonds issued approximately four to six,years following District formation, as well as El D maintenance of funded infrastructure improvements °®® ° a. ° \ 0 v 5.2 Projection of District Tax Revenues by Year `, ° Q O \ Table 3 provides an overview of the projected•growthcof0assessed.value, property tax increment, and City and Fire District'allocatroris..to the District°over the.District lifetime. It is expected that a total of approximately®$255,688,000,.of incremental tax revenues will be allocated to the District over the: District 'lifetime (approximately $97;757,000 from the City and approximately ° ° $157,931,000 from themFir,e District)ao.°These.projections are based on research and analysis of available data,at the time'of IFP°preparation,for°pth'poses'of illustration. Actual;results may differ from.those°eXpres°sed°in,this,document. Appendix C provides additional detail for the projected revenueianalysis. °°° °n°° o n o a 'a, .a . . ° o ° . o n .. o ° ° - 5.3 . Plan8for Financing Public Facilities • ° ° The PFA intends°,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 ristrict 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 aroalyses,projections,assumptions,rates or return,and any examples presented herein are for illugrative p>prposes and ere not:a giraranlee oT actual andror future results.Project pro forme and - j] tax analyses are projections only.,4ctuat resuils may defer from those‘pressed fa this analysis. �� I Q'l',",k* 1601 Pl.Sepulveda Stort_ 362,sanna1tan Beach,,CA 90266 I (424)29Z-1070 I s',.7.Be71antcom • 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°. ❑ a' ❑ H ❑ r ❑ 5.5 District Termination Date °.®'❑ ,` °❑ ❑ , 0 v G The District will cease to exist the earlier of: (i):fdrty five (45) years from the date.on.which the issuance of bonds is approved by the PFA;or(ii)June'30, 2072.This IFP assume&th"at the District will be formed in Fiscal Year 2021-2022 and will beginrreceiving tdx revenues in Fiscal Year 2022- 2023. @ p © h. tl H 0 L. ❑ o .❑ ❑ L. 5.6 Analysis.of c Costs to Provide Failitiees.and�Services°o L o le 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. o°❑❑ ❑_ o arm"fl 6 5.7 " e'Fiscal Impact Analysis 0 . Appendix D.to.this IFP includes an analysisof 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,generatean'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,assumplions;rates of return,and any examples presented herekt are her illu r�ltve purposes;prod are rat a�L,irahtee of actual andror future results.Project pro rorma smj A taxana?y es are projections only.'Act l results maydi ier framihose exprexaod frr tiffs analysis_ kosmop vro rsmii. 1601 N.Sepulveda Btal i?962,Manhattan Beach,CA 902F!s I (424)297-l0?0 I wirkar-niont.c'om • • 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 of Fire: : : .Total Taxes Fiscal Year Share Increment City Share Increment District Share .Increment. . Fire Share Increment.. Allocated to Assessed Value 1%General Levy Available Available Allocated Allocated Available - Available • Allocated .Allocated' EIFD 0 2021/2022 $0 $0 5.20% $0 100% $0 lz:a%'.. ' $0 .:80% '.. ' $0 $o'''•. 1 2022/2023 $79,994,178 $799,942 5.20% $41,565 100% $41,565 ..12.4%- ' 598,820 . -80% -• ' $79,056 r .$126,622" 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%• .. ' 56,037,495 $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 58,255,649' 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 59,005,743. 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% 55,020,694: "$7,977,175 18 2039/2040 $8,305,564,553 $83,055,646 5.20% $4,315,595 70% $3,020,917 12.4% $16,260,23.8.- 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% 54,505,258 70% $3,153,680 . 12.4% . $10,711,156 .:505'••. • $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 - 0;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 c 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 $105,044,530 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 $107,291,3'09 r 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 r 5.20% $5,693,965 40% $2,277,586 . .12.4%• $13,537,284 : ..20% • • $2,707,457 54,985,043• 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 ,A $114,304,873 5.20% $5,939,314 40% . $2,375,726 12.4% :514,126,596 . 20% $2,824,119- . $5,199,845, 34 2055/2056 511,673,685,8,53,A$116,736,859 5.20% $6,065,681 9% $545,911 -•12.4% :• .$14,421,030 5%. :- '$721,051 $1,266,963 35 2056/2057 $11,921,748;410 5119,217,484 5.20% $6,194,575 9% $557,512 . '12.4%, $14,727,473 -,1:5%;. '- $736,374 $1,293,885. 36 2057/2058 512,174,772,219 $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 $12,432,856,504 $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 $12,696;102;475 $126,961,025 5.20% $6,596,931 9% 5593,724 12.4% :$15,664,067 5% :$784,203': . $1,377,927 39 2060/2061 $12,964,613;365 $129,646,134 5.20% $6,736,450 9% $606,281 .12.45'O :- '516,015,771 ..5% - - '$800,789 51,407,069. 40 2061/2062 513,238,494,473 A $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 'e L$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% 517,051,219. 5% $852;561•: $1,498,039 43 2064/2065 $14,093,443,930 5146,934,439 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 $143,899,016 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 $146,922,885` 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,, 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 @ 3% $2,127,176,505 $110,528,704 51% $55,963,836 $262,779,691 36% ' $93,907,31.9: $149,871,155 RIAThe ermalyscs,projections„assumptions;rates of return,and any csamples prr;,cnted hcrc�r are far illustra'live ptzposes and are not a,uar8ntee of actual sndror future aesUlls.Project pre f6rrna arid laic analyses are projocifcns only.Actual results may darer from those expr En this is analysis. lcosmo & r� 1601 It.Stroulvecla Blvd.78B2,Manhattan Beach,CA902E6 I (42,4)297-t070 i rssr,.r.ftosmontcarn • . Rancho Cucamonga EIFD • Proposed Infrastructure Financing Plan April 2022 Page 17 Table 4: Overview of Fiscal Impacts to City and Fire District Annual • Year o-50 Year 0-50 (Stablized Nominal Present Value Year 20) Total @ 3.0% City of Rancho Cucamonga Estimated Fiscal Revenues (Net of Allocation of TI to EIFD) $25,486,770 $1,622,088,000 $651,158,500 Estimated Fiscal Expenditures $2(,218,100 $1,257;660,100 $505,229,600 LEstimated:Net Fiscal Impact to City.: •': . • $5;268,670 $364;427,900.;. . •• $145,928,900 r • P Rancho Cucamonga Fire Protection District ❑❑❑m • Estimated Fiscal Revenues (Net of Allocation.of TI to EIFD) $5,795,350° P❑•,,$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_ : : r $1,182,0501_�_ • $176,995,700t , $56,761,100:1 ❑ u.❑ 4 • ❑ • ❑ �- ❑ 4LR • 5.8 Developer Reimbursement for Transit Priority Project The PFA does not intend to finance any potential costs'tbiat may be incurred by reimbursing a developer of a project that is both located entirely within the.bbundaries 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 infraptructur*expenditures,beyond and in advance of said developer's fair share (not contemplated at.,this time), the JPFA may consider and evaluate such reimbursement at the appropr at9,1 me. °0 4 ❑° • ❑❑ ❑ a❑ !3 ❑ • ❑ 1 0 ❑ • L ❑ C E Y. C C /I 3 _ P _ ❑ •41 G v ❑ A VI ❑ C ❑ ] C. ❑ C P P °3 ❑ ❑ C C ❑ L` L ❑ [I . C .❑ C C° �n n ❑a P P � ❑ C S ❑ ❑ P C n r❑ n. r ❑ r • r • • • The arialyrses,projoctiens,assurnptiogs,rates of return,and.any cxamplos presented hcrear are for ' purposes and arerag' rahteeof actual andror White resUlls.Project pro fcnmaant • leosn 0>{Z tax anayses are projections only.Adria results maydffer from those expressed in this analysis. • • 0""r='�lrr5 1601 N.Sepulveda MIL#362.Manhattan Beach,CA 90266 l (424)29'1-t07D 1 rnvv.[oromantoom • Rancho Cucamonga EIFD Proposed lnfrastructpre Financing Plan April 2022 • Page 18 • 6.0 Removal of Dwelling Units and _ r • . 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 e .a District. However, if any relocation of dwelling units is deemed tp'be-required in the future for a project financed by the District, the:PFA will comply with the a requirements of Government Code ❑ Section 53398.56. • a a • a a C • ❑ .a. • p a...Q. ♦ ❑ ®. • Q ❑ a • Q .a Q • ❑ ¢ ,a • ❑ .a ■ • ❑ a ❑ Q :4. Q Cr 0, a Q ❑ 6 C ❑ 0 ❑ CI • a h • Q• a• a Q+ h ❑ el ❑ a 6 ® 6 a`a Q h Q © 'a ® 6 a. Q ❑' ❑ ❑' .❑ ,❑ Q •. ❑ Cr ❑ ❑ '❑ ? CI 0 a ❑ Y 6 a v -❑ ❑ ❑ ❑ ❑ CI ❑ .Q a 0 0 ❑ a C ❑ -c Q ❑ 0 ❑ V a ❑ n ❑ ❑. ❑ Q •.❑ ❑ . ❑ ° a 0 0 ❑ V 0 a 0 ❑ a '❑@ C' ❑ • a ❑' a ❑ ❑ i a a a L'W a a > .F a -Q Q ❑ ❑ ❑ - r ®. a - ❑ ❑ 'a A ❑ • 0 ❑ t a ❑ • ❑ ❑ ❑ • a • a Q • ❑ ❑ a • a ❑ o c • ❑ • Q ¢. ° r' • ❑ ❑ • ❑ •0 a Q • • ❑ !i 0 • C ❑ ❑ a B •. ❑ • • • The arxalyacs,projections,assumplions,'re' tes of return,and any eiCtimples presented hcreki are tar illustrative purposes and are net a guarantee al actual andror More results:Project pre Nana and ,� tax analyses aro projoctrcns only.Actrnal mulls may differ fvomthose'expressed in this analysis: . 1�osiI10' ., 1601 N.SepulvedaBtivb#362,Manhattan Beach,CA 90266 I (424)297-to70.1-aw,v.Fwmantcom • • 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. .❑ v ❑ .v ❑ ❑ ❑ ❑ More specifically, the goals of the District's implementation❑of thei.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 n ❑ p additionally aims to implement Statewide policy:goals of housing supply an&,sustainable 1 v c ❑ e infrastructure investment. ❑ n . a a NICIED 1 n. ❑ ❑ Additional objectives include economic development in tile rform of fiscal revenue generation for • 1 the City and other taxing entities,job.creation,_housing production, improvement of quality of life, . and promotion of environmental sustainability. The4)istrict will be utilized to address critical infrastructure funding needs,.'which are afe'critical,to°catalyze private sector investment and • © ❑ a 0 . '❑ ❑- ❑ development. ❑ ❑ e 1 ❑ ❑ • v v ❑ ❑ CI [❑ 1 n ❑ a L ❑ ❑ n • C P O. tl D ma ❑ ❑ Q ❑ - v a J ❑ ° ° c a v ❑ • ❑°n .❑ o ❑r v a a ✓ a ❑ v ❑ ❑ ❑ ., 9 c ❑ CI A ❑ a D. .n' u c ❑ c ❑ ❑ v ❑ ❑ ❑ ❑ ✓ ❑ ❑ ❑ ❑ ❑ s v ❑ 4 ❑ ❑ ❑ a. e ❑ ❑ • r The analyses,projections,assumptions,rates of return,and any examples presented hercrr are for 'illustrali a oorpposes am!ale nor a quarahtee of actual andror Tutors results.Project pro facia avid tax analyses are projections only.Actual results maydiffer from those expressed in this analysis. •ICO•SI•IIOIp nh1 1601 N.Sepulveda Bioa.#3B2,Manhattan Beach,CA90266 I (424)297-1070 I uvriv.rkffamont-conr • 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 ° a - a a 6 ❑ b ❑ '6 a ❑ a & ❑ a a ❑ a 6 a 6 ❑ a 6 . ❑. a t, a ' ❑ 6 ❑ a. u. ❑ a.6 6 ❑ 6 a a a o v ❑ n "❑ a a a ❑ e ❑ ❑ a a ❑. a. ", a ° ° ' a ❑. a V a e. ❑ .. N a a a a a a n • ° a o ❑ i a 'a a i a a a a , a.@'❑ a .. . a a' a 6 a ' a in a b ❑' ❑ 1• a a �a ❑ a a a a G /❑ u, a b o' a a ❑ a a c ❑ a a 6 a a ❑ ❑ a a 6 'a' a ❑ a a a' • a a 6 a a von C. CI - ❑ ❑ CI CI- 100 6 ❑ 4 0 . ° O ❑ b a a C ❑ a P. 9 n ❑ G. .Q • ❑ a ❑ .:❑ • a '2 a . ❑ ❑ • b c a ' . ,a • a ❑ • ❑ ❑ • a ❑ • a ❑ .. a r a a ❑ ` a a a ` ❑ a 3 • a a a a a • • • ` O The analyses,projections,assumptions,rates of return,and any examples presented herein are far • • • illustralive purposes arxf are re c ranlee of actual andror future revUlls.Project pro lama watt' tax analises are projections only.Actual results maydfer from those cxpressenthis analysis ko sin 0I di li 0.00 1001 Ph.ScpulvedaWM.#362•Manhattan Beach•CA•902FAn I (424)29-10y0 I ww,v.Euosmontcorm 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 $45,9413,512 $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 herein,are for Illustrative purposes and are not a guarantee Of actual armor future results Project pro forma and kU 5q tax analyses are projections only.Actual results may difer from those expressed ri tits analysis 3/21/2022 ^^ 1601N Sepulveda DWI#382 Manhattan Beach.CA902i66 I (424)297-1070 I ewe kosmant c om 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 $2,953,519 $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 $6,931,552,554 $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 $3,222,634 $3,421,946 $3,627,789 $3,707,925 $3,789,664 $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 $8,135,605 $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.assumptions,rates of return,and any examples presented herein are for aluSeratrve ptlposes and are not a guarantee of actual and/or We results Project pro forma and tax anayses are projections onty Actual results may differ from those expressed in tlns analysis kosm04,fl;, m 3/21/2022 1601,1 seoulvedaBlvd n382.Manhattan Beach,CA90266 I (424)291-1070 I AVM xosmont com 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 • HilThe analyses,projections.assumptions.rates of return.and any examples presented heron are for illustrative purposes and me not a guarantee of actual andror future results Protect pro forma and ko 5 mon,,, tax analyses are profecbons only, horn Actual results may deer those expressed el this anatysrs. 3/21/2022 '^ 1601 N Sepulveda9Ab rs3B2.Manhattan Beach.CA90266 I (424)297-1070 I .nwxosniontcom 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 NIThe analyses,projections.assumptions.rates of return.and any examples presented herein are for ilustralive purposes and are net a guarantee of actual andror future resullS Project pro forma and tax analyses ae projections only.Actual results may differ from those expressed in the analysis 3/21/2022 kosman. 1601 N.Sepulveda Blvd#382.Manhattan Beach.CA90266 I (424)297-5070 I awwirosrrrontcam 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 55,091,381 $5,199,845 $1,266,963 $1,293,885 $1,321,346 $1,349,357 $1,377,927 $1,407,069 • The an lyses,projection.assumptions.rates of return.and any examples preserded herein as for illustrative purposes end are not a guarantee of actual and/or future results.Project pro forma anti kos‘mgatax analyses are projections only.Actual results may differ from those expressed dithis analyses 3/21/2022 1601N Sepulveda Bad+a382.Manhattan Beach.CA90266 I (424)297-7070 I swntcosnwntcom 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 $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 $852,561 $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 any examples presented herei are for ilustratrve purposes and ire not a guarantee of actual andror future results Prolett pro forma and tax analyses are pro)ecbons only.Actual results may afar from those expressed e'the analyses kosm9,•fl, 3/21/2022 c601N.Sepulveda Btvo a362.Manhattan Beath.CA902'66 I (424)291-1070 I rwrrkosmanrcorn 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 are for dlustrafrve purposes and are not a guarantee of actual andror fuhse results.Protect pro forma and 'Ios' Tl tax analyses are protectxmsonly Actual results may difer from those expressed itIhsanalysis. 3/21/2022 l� ..n,fk, 1601n.Sepulveda Blvd#362.Manhattan Beach,CA90266 I (424)297-1070 I rwralcognontcom 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 an1dses.projections. assumptions.rates of return.and asw examples presented heron are for dluCrative purposes and are nut a guarantee of actual andror future results Protect pro forma aridtax analyses are projections only.Actual results may differ from those expressed on this analysts. 3/21/2022 kexal>I1" „t- 1601N.SepulvedaeMI#3B2.Manhattan Beach,CA90266 I (424)297-1070 I wrrelltasroontcOre Page 1 of 16 Appendix D: Rancho Cucamonga EIFD - Fiscal Impact Analysis DRAFT Summary of Estimated Fiscal Impacts to City and Fire Fund Stablized Year 10 Year 15 Year 20 Year25 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% 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 $8,518,600 2.0%1 $262,298,600 $111,401,900 , Property Tax Allocation to EIFD ($2,865,700) ($3,472,200) ($3,407,600) ($3,292,030) ($3,115,440) (52,866,400) ($628,938) ($766,674) 2.0%, ($102,186,800) ($57,115,000) Property Tax In-Lieu of MVLF $3,687,300 $4,983,700 $5,502,400 $6,075,100 $6,707,400 $7,405,512 $9,027,277 $11,004,201 2.0% $338,719,400 $143,809,700 Property Transfer Tax $177,600 $250,300 $276,400 $305,200 $336,900 $371,965 $453,423 $552,720 2.0%1 517,015,400 $7,227,400 Sales and Use Tax-Direct/OnSite $4,210,900 $5,091,700 $5,902,700 S6,842,900 $7,932,700 $9,196,173 $12,358,888 $16,609,312 3.0%1 $428,828,800 $173,618,900 Sales and Use Tax-Indirect)Off-Site $2,113,600 $3,082,000 $3,572,800 64,141,900 $4,801,600 $5,566,370 $7,480,736 $10,053,484 3.0%1 $257,590,400 $103,455,900 Transient Occupancy Tax $792,300 $918,500 $1,064,800 $1,234,400 $1,431,000 $1,658,921 S2,229,451 $2,996,196 3.0%1 $77,389,300 $31,349,600 Prop 172 Half Cent Sales Tax $145,500 $188,000 $218,000 3252,700 $293,000 $339,667 $456,484 $613,477 3.0% $15,792,700 $6,374,600 Franchise Fees $940,200 $1,366,300 $1,584,000 $1,836,300 $2,128,700 $2,467,747 $3,316,445 $4,457,025 3.0% $114,228,600 $45,891,600 Business Licenses(incl.penalties) $260,400 $338,000 $391,800 $454,200 $526,500 6610,358 $820,270 $1,102,374 3.0% $28,494,100 $11,558,100 Animal Licenses $35,200 $52,100 $60,400 $70,000 $61,200 $94,133 $126,507 S170,015 3.0%t $4,351,500 $1,745,700 Fines and Forfeitures $124,700 $181,300 $210,200 $243,600 $282,400 $327,379 $439,970 $591,283 3.0%� $15,154,400 $6,088,400 Use of Money and Property $192,900 $280,400 $325,000 $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 $22,448,300 Intergovernmental $26,600 $38,700 $44,900 $52,000 $60,300 $69,904 $93,945 $126,255 3.0% $3,235,900 $1,300.100 Other Revenue S446,700 $649,200 $752,600 5872,400 $1,011,400 $1,172,490 $1,575,728 $2,117,647 3.0% $54,272,800 $21,804,200 Transfers In $213,900 $310,900 $360,400 $417,800 $484,300 $561 436 $754,524 $1,014,017 3.0 $25,988,300 $10,440,900 Estimated Total Revenues $13,820,600 $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 $650,817,300 City of Rancho Cucamonga Expenditures !i • Police $5,829,900 $8,472,700 $9,822,200 $11,386,600 $13,200,200 $15,302,650 $20,565,481 $27,638,287 3.0%I $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%' $66,335,200 $26,650,100 City Council $12,800 $18,600 $21,600 $25,000 $29,000 $33,619 S45,181 $60,720 3.0%I $1,556,200 $625,200 City Management $100,500 $146,000 $169,300 $196,200 $227,500 $263,735 $354,438 $476,334 3.0% $12,207,800 $4,904,500 City Clerk $200 $300 $300 $400 S400 $464 $623 $838 3.0% $21,600 $8,700 Animal Care and Services 5312,100 $461,700 $535,200 $620,500 $719,300 $833,866 $1,120,646 $1,506,054 3.0° S38,549,700 $15,465,100 Records Management $48,400 $70,300 $81,600 $94,500 $109,600 6127,056 $170,753 S229,478 3.0 $5,881,200 $2,362,800 Healthy RC Program $60,700 $89,800 $104,100 $120,700 $139,900 $162,182 $217,960 $292,920 3.0 $7,497,500 $3,007,700 Community Affairs $51,100 $74,200 $86,100 $99,800 $115,700 $134,128 $180,257 $242,250 3.0 $6,208,300 $2,494,100 Admin.Services-Admin $17,800 $25,800 $29,900 $34,700 $40,200 $46,603 S62,630 $84,170 3.0 $2,157,300 $866,800 Business Licensing $27,400 $35,500 $41,200 $47,800 $55,400 $64,224 $86,311 S115,995 3.0 $2,997,700 $1,215,900 City Facilities $94,000 $136,600 $158,300 $183,500 $212,800 $246,694 $331,535 $445,556 3.0 $11,418,700 $4,587,400 Finance $148,900 $216,400 $250,800 $290,800 $337,100 $390,791 $525,191 $705,813 3.0% $18,089,000 $7,267,300 Innovation and Tech Services $364,800 $530,100 $614,600 $712,500 6825,900 $957,444 $1,286,725 $1,729,251 3.0% $44,319,300 $17,805,500 Human Resources $55,600 $80,700 $93,600 $108,500 $125,800 $145,837 $195,992 $263,397 3.0% $6,750,200 $2,711,800 Procurement $24,800 $36,100 $41,800 $48,500 $56,200 $65,151 $87,558 $117,670 3.0%� $3,016,200 $1,211,800 Risk Management $27,800 $40,400 $46,800 $54,300 $63,000 $73,034 $98,152 $131,908 3.0%11 $3,379,800 $1,357,700 Treasury Management $600 $800 $1,000 $1,100 $1,300 $1,507 $2,025 $2,722 3.0%, $69,800 $28,000 City Telecommunications $22,500 $32,700 $37,900 $43,900 $50,900 $59,007 $79,301 $106,573 3.0%' $2,731,400 $1,097,400 Economic and Comm.Development $82,500 $120,000 $139,100 $161,200 6186,900 $216,668 $291,184 $391,327 3.0% $10,029,300 $4,029,300 Building and Safety $178,000 $258,600 $299,800 $347,600 $403,000 $467,187 $627,861 $843,793 3.0% $21,624,700 $8,687,600 Engineering $239,300 $347,700 $403,100 $467,300 $541,800 $628,095 $844,107 $1,134,409 3.0%1 $29,072,800 $11,679,900 Fire Facilities Maintenance $34,700 $50,400 $58,400 $67,700 $78,500 $91,003 $122,300 $164,362 3.0%' $4,212,200 $1,692,200 City Facilities Maintenance $348,900 $507,100 $587,800 $681,400 $790,000 $915,827 S1,230,794 $1,654,085 3.0%' $42,391,900 517,031,000 Planning $184,000 6267,500 $310,100 $359,500 $416,700 $483,070 6649,205 $872,477 3.0%1 $22,361,000 $8,983,600 Planning Commission $1,900 $2,800 $3,200 $3,700 $4,300 $4,985 $6,699 $9,003 3.0%i $230,700 $92,600 Vehicle and Equip.Maintenance $110,100 $159,900 $185,400 $215,000 $249,200 $288,891 $388,245 $521,769 3.0%1 513,372,100 $5,372,200 Street Maintenance $238,700 $346,900 $402,200 $466,200 $540,500 $626,588 $842,081 $1,131,687 3.0%1 $29,003,100 $11,651,900 Park Maintenance $295,200 $436,700 $506,300 $586,900 $680,400 $788,770 $1,060,041 $1,424,607 3.0%1 $36,464,900 514,628,700 Community Improvement $79,100 $115,000 $133,300 $154,500 6179,200 $207,742 $279,188 $375,205 3.0%1 S9,615,300 $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%i $97,759,100 $39,274,800 Estimated Total Expenditures S10,342,900 $15,044,000 $17,440,400 820,218,100 $23,438,700 $27,171,877 $36,516,731 $49,075,433 i i $1,257,660,100 1 $505,229,600 Estimated Annual Net Fiscal Impact $3,477,900 33,743,100 $4,454,800 $5,268,670 S6,196,560 S7,253,348 S11,283,375 S13,185,174 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 i i• 1.29 i 1.29 Notes. Assumes installation of necessary public infrastructure Values in 2022 dollars Select years shown for illustration The analyses,projecriorl5.assumptions,rates of Mum,and any examples presented herein are for Ill ustrattve ptpclses arx3 arc not a guarantee of actual onuror future re3u55 Project pro Nurse aril tax analyses ono proem-bons only.Actual reiulls may Offer from those owpres40d re ttwo analvsas 3/21/2022 kosmgrJ 1601N.sepuMecat5MO P3B2.l.Rannaltanbeach,CA90205 I (424)297-10T0 I trrwx9<Dsrnontcorn Page 2 of 16 Appendix D: Rancho Cucamonga EIFD - Fiscal Impact Analysis DRAFT Summary of Estimated Fiscal Impacts to City and Fire Fund Stablized Veal 5 Year 10 Year 15 Vra,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%1 $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 1 ($152,329,600) ($88 401.900) Fire Fund-Other Revenues $332,100 $482,600 $559,500 $648,600 $751,900 $871,658 $1,171,436 $1,574.312 3.00:! $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 S15,702,256 $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 l $286,979,900 $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 ; i $175,149,500 i $56,346,100 Revenue/Expenditure Ratio 0.67 0.88 1.08 1.26 1.42 1.56 1.88 1.72 } l 1.61! 1.49 Notes: Assumes installation of necessary public infrastructure Values in 2022 dollars Select years shown for illustration The analyses,projections.assumptions.rates of return.and any cx-3rnp les presented herein are far ,llu t Olive purposes and arc not a guarantee of actual andror rlturc reruns Pi u(ctt pro romra and Atau anatysas are pro ecbon s o nly.Actual results may differ from those expros:ad it thy analysis. 3/21/2022 koSnl"""r' 16O1N.Sepulveda BM!N362.Manna9tanbeacn,CA 90266 I 0424)297-1070 ) sWIFicoarnorrtccm 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 NV-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,projections.assumptions rates of rdurn,and any examples presented herein are for rtustrattve purposes aril are not a guarantee of a-toal androi future results Project or o forma and tax analyses are projocbrons only. Actual results maydRFer From those expressod�this analys.s. 3/21/2022 kOS1TEQ� k, 1601N.Sepu4BOa Bird_rf362.manhattan Hex h,C:A90266 I (424)297-1010 I rMnrlaosrrYontcom 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,projectiortns assumplans rates of return.and any examples presented heresy are for rllustraihre ptaposes and arc nut a guarantee or at.luaI al rdror Artue,Csuhs Protect pi o tunes ancI Ltax anaf,rus are profcchons onfy Actual cesulls may d lfer from those erpressod Iry this anafysr lif 3/21/2022 koSIl1Q ,,k, 1601N. SevulveaaWYO.0382.Manhattan beat h.CA90266 1 024)297-10TO I wow Itosntontclxn Page 5 of 16 Appendix D: Rancho Cucamonga EIFD - Fiscal Impact Analysis DRAFT Property Tax Year5 Year 10 Year 15 Year 20 Year 30 Year40 Year 50 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 $6,822,105,358 $7,532,155,563 $8,316,108,364 $10,137,289,692 $12,357,299,668 $16,063,479,220 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) Property ) ($3,407,600) ($3,292,030) ($2,866,400) ($628,938) ($766,674) Tax to City $0 $385,800 $851,900 $1,410,870 $2,866,400 $6,369,262 $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 ElFD-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 analyses.projections.assumptions.rates of retum.and am examples presented herein are for illustrative ptrposes and are not a guarantee of actual andror futlre wesults Project pro forma and kOS aF n tax analyses are protects ns only. Actual resuts mayd8fer from those expressed in dies analyses 3/21/2022 °."nin 1601N. SepulveciaBtvd P382.Nanhattan Beach.CA90266 I (424)29?-1070 I sweicosmntcan 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) qThe analyses,protections,assumptions.rates of return,and eery examples presentee!herein are for ftushalrve pUOoses and are not a oua'antee of arcMat and�or Mire results Project pro turn and tautanalyepr� bons only Actual resultsydffer frothose expren i sa1yas3/21/2022 k�S �'�"°l"' 1601ft 9eputveda Blvd.382lAanhaltan Beath.CA90266 I (424)297-1070 I *wit.totmnordcam 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,projecticas,assumptions rates of return,and any examples presented heron are for u arnaalys ps arce raecibg c onty a Acuua rtaescu s amud Nnar T.r,nuwoc ourpsrPsroudr,mrayrana asd kosmO3/21/2022 1601N.Sepunreaa Blvd.#a82.Manhattan Beach.GA50266 I (424 1 29 7-10TO I -averritosmontcom 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. • The analyses,proJechons.assumptions.rates of return,and arty examples presented herein are for dlustrative purposes and are not a euarantte at actual andror future results.Protect pro roam and r tax analyses are projections only.Actual results may differ from those expressed n this analyses kosmon - 3/21/2022 —i-oh, 1601 N.Sepulveda EMS 41362.Manhattan Beach.CA 90266 I (42d)2874079 I mwalkosnontcum 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 anairses,projections.assumptions.rates of return.and airy examples presorted herein are for AI usafal tve.purpc 5e5 and arc rxll a guarantee i 1 aS:tt I drrdrot to tr'e rC3ut5.Prott)ci pr.')re mle anJ lac anaFrcrs aro pro ocbvnc ony.Actwl ur ultc may d kom thoco onprevsod!tt xralyac. 3/21/2022 kosmcw,,k, 1601N.Sepulveda9tvd 0362,14anha1tanBeach.CA90266 I (424)297-1070 I ,.wl.rosmonurnn 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 anaires,projections.assumptions-rates of return.and any examples presented herein sr For rtustraltor purposes aril arc not a guarantee oR actua I andror future results.Proloc t pi o rorm.o and Ltar analyses are propacbrons only. Actual results may differ from those orprevsad in this analysis. 3/21/2022 L osrflQ M 1601N. sepuiveciaBMd_rf362.hfanhattanBeach.CA902Yb I (S20)297-10-70 I IOW koolmntcoo 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) The analyses,projections.assumptions rates of return.and any examples presented heron are for rllu4rallve p sposes and are not a raja-gee of actual arxiror future resullls.Protect pro Fornna aril A. !ax anallrse,xo pre.cyone orr►q..bctu1 rc uN. may d for from tho.s oupros-.ad nanaFyas. 3/21/2022 kosm'au, 1601N sepunreclaBIva r3e2.Manhattan Beat h.CA90266 l (d207297-1o70 I ytwrro9montcom Page 12 of 16 Appendix D: Rancho Cucamonga EIFD - Fiscal Impact Analysis DRAFT Multipler Revenue and Expenditure Factors Year 5 Year 10 Year 15 Year 20 , 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 $28.84 $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 $16.72 $19.38 $22.47 Total Selected Revenues 525,518,120 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 $0.64 $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 $6.38 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% $13.86 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 $1,978,590 Service Population 215,051 25% $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% E0.08 $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% $102.56 $118.89 $137.83 $159.78 Total Selected Expenditures S133,210,840 Notes: Major case study revenues not shown include properly tax,sales tax,transient occupancy tax Non-recurring 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 RI The analyses,protections.aswrn OOPS.rates of return.and any examples pre rented hereto are for ilustrafive purposes and are not a guarantee of actual andlor future results Protect pr o formai and II tax analyses are proJecbons only.Actual results rna)difer from those expressed in this analysis. 3/21/2022 1CUSI770amain 1601N Sepulveda SW.N362,lAanhattan Beach,CA90266 I (424)297-1070 I a wtir.tlotsmontcan Page 13 of 16 Appendix D: Rancho Cucamonga EIFD - Fiscal Impact Analysis DRAFT Multipler Revenues and Expenditures Yeer 5 Year 10 Yee,15 Year 20 2027 2032 2037 2042 Estimated 8 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 $188,000 $218,000 $252,700 Franchise Fees $940,200 $1,366,300 $1,584,000 $1,836,300 Business Licenses(incl.penalties) $260,400 $338,000 $391,800 $454,200 Animal Licenses $35,200 $52,100 $60,400 $70,000 • Fines and Forfeitures $124,700 $181,300 $210,200 $243,600 Use of Money and Property $192,900 $280,400 $325,000 $376,800 Charges for Services $453,000 $670,200 $776,900 $900,600 Intergovernmental $26,600 $38,700 $44,900 $52,000 Other Revenue $446,700 $649,200 $752,600 $872,400 Transfers In $213,900 $310,900 $360,400 $417,800 Fire Fund-Other Revenues $332,100 $482,600 $559,500 $648,600 Total Multiplier Revenues $3,171,200 $4,557,700 $5,283,700 $6,125,000 Expenditures Police $5,829,900 $8,472,700 $9,822,200 $11,386,600 Non-departmental $546,000 $793,400 3919,800 $1,066,300 City Council $12,800 $18,800 $21,600 $25,000 City Management $100,500 $146,000 $169,300 S196,200 City Clerk $200 $300 $300 $400 Animal Care and Services $312,100 $461,700 $535,200 $620,500 Records Management $48,400 $70,300 $81,600 $94,500 Healthy RC Program $60,700 $89,800 $104,100 $120,700 Community Affairs $51,100 $74,200 $86,100 $99,800 Adnlin.Services-Admin $17,800 $25,800 $29,900 $34,700 Business Licensing $27,400 $35,500 $41,200 $47,800 City Facilities $94,000 $136,600 $158,300 $183,500 Finance $148,900 $216,400 $250,800 $290,800 Innovation and Tech Services $384,800 S530,100 $614,600 $712,500 Human Resources $55,600 $80,700 $93,600 $108,500 Procurement $24,800 $36,100 $41,800 $48,500 Risk Management $27,800 $40,400 $46,800 $54,300 Treasury Management $600 $800 $1,000 $1,100 City Telecommunications $22,500 $32,700 $37,900 $43,900 Economic and Comm.Development $82,500 $120,000 $139,100 $161,200 Building and Safety $178,000 $258,600 $299,800 $347,600 Engineering $239,300 $347,700 $403,100 $467,300 Fire Facilities Maintenance $34,700 $50,400 $58,400 $67,700 City Facilities Maintenance 3348,900 $507,100 $587,800 $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 3110,100 $159,900 $185,400 $215,000 Street Maintenance $238,700 $346,900 $402,200 $466,200 Park Maintenance $295,200 $436,700 $506,300 $586,900 Community Improvement $79,100 $115,000 $133,300 $154,500 Community Services $804,600 $1,169,300 $1,355,600 $1,571,500 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 $21,419,800 $24,631,400 Notes. Major case study revenues not shown include property tax sales tax transient occupancy tax Non-recurring licenses and permits excluded(e.g.building permits) Non-recurring charges for services excluded(e.g.plan check and engineering fees) Fre 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.a ssumptions,rates of return,and any examples pr cscntcd hercrl are for d1u trativr-pt,po5e5 and arc rut a guarantee IX actual andrut future rc5ulf5 Probst pro forma and • tax analyse,aro profecbonm only.Actual result,mar differ frorn those expressed in the.-analyas 3/21/2022 kosm „h t601N.5epulvedatwo 1►382.Manhattan Beach.CA90266 I (424)297-2070 I YAW imprint com 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, protetions assurtphons, rates of return, and aro examples presented herein are for llustrative purposes and are not a guarantee of actual anoor future results Project pro torn and tau analyses are protections only. Actual resits may ddfer trom those expressed in this analysts • kosehc r 3/21/2022 Pan„" 1601 U Sepulveda Btuct a382 Manhattan Beach CA90286 I (424) 458-3008 I vnve kosamontcorn 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. 11 The analyses. projections. assumptions. rates of return, and any examples presented herein are for illustrative purposes and are not a guarantee of actual anOor future results Project pro Comma and tau analyses are protections only. Actual resits may differ from those expressed in this analysis 3/21/2022 k° rt� �" 160t N Sepulveda FMd 0382 Manhattan Reach. CAN 90266 I (424) 456-5068 I wont kosrnontcorn Page 16 of 16