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Home My WebLink About2022-06-14 - RC EIFD PFA Agenda PacketRANCHO CUCAMONGA EIFD PUBLIC FINANCING AUTHORITY AGENDA Special Meeting June 14, 2022 – 6:00 PM Council Chambers 10500 Civic Center Drive Rancho Cucamonga, CA 91730 A.CALL TO ORDER Pledge of Allegiance Roll Call: Chair Michael Vice Chair Kennedy Board Members Daniels, Oaxaca and Scott B.ANNOUNCEMENT / PRESENTATIONS C.PUBLIC COMMMUNICATIONS This is the time set aside for anyone wishing to address the Authority on items not listed in any other place on the agenda. Under the provisions of the Brown Act, the legislative body is prohibited from talking or engaging in discussion on any item not appearing on the posted agenda. However, your concerns may be referred to staff or set for discussion at a later date. Any person desiring to speak should fill out a "Speaker Request Form" and give it to the Clerk before that portion of the agenda is called. Comments are to be limited to five minutes per individual or less, as deemed necessary by the Chair, depending upon the number of individuals desiring to speak. D.CONSENT CALENDAR D1.Consideration of Meeting Minutes for the Special Meeting of: May 10, 2022. E.ITEMS FOR DISCUSSION F.ADVERTISED PUBLIC HEARINGS ITEM(S) F1.Public Hearing to Receive Comments Related to the Rancho Cucamonga Enhanced Infrastructure Financing District (EIFD) and Infrastructure Financing Plan. (PFA) G.ADJOURNMENT CERTIFICATION I, Linda A. Troyan, MMC, City Clerk Services Director of the City of Rancho Cucamonga, or my designee, hereby certify under penalty of perjury that a true, accurate copy of the foregoing agenda was posted on at least SeventyTwo (72) hours prior to the meeting per Government Code 54954.2 at 10500 Civic Center Drive, Rancho Cucamonga, California and on the City's website. LINDA A. TROYAN, MMC CITY CLERK SERVICES DIRECTOR If you need special assistance or accommodations to participate in this meeting, please contact the City Clerk's Office at (909) 4772700. Notification of 48 hours prior to the meeting will enable the City to make reasonable arrangements to ensure accessibility. Listening devices are available for the hearing impaired. **DRAFT** May 10, 2022 I Rancho Cucamonga EIFD Public Financing Authority Meeting Minutes I Page 1 May 10, 2022 RANCHO CUCAMONGA EIFD PUBLIC FINANCING AUTHORITY MEETING MINUTES A. CALL TO ORDER The Rancho Cucamonga EIFD Public Financing Authority Meeting held a Special Meeting on Tuesday, May 10, 2022 in Council Chambers, 10500 Civic Center Drive, Rancho Cucamonga, California. Board Member Scott called the meeting to order at 6:00 p.m. Bo ard Memb er Sco tt presided the m eeting due to t he abs en ce of t he Ch air an d Vice Chair. Present were Members: Linda Daniels, Ryan Hutchison (alternate Board Member for L. Dennis Michael), Francisco Oaxaca, and Kristine Scott. Absent: Lynne B. Kennedy Also present were: Noah Daniels, Finance Director and Patricia Bravo-Valdez, Acting Secretary. Board Member Oaxaca led the Pledge of Allegiance. B. ANNOUNCEMENT / PRESENTATIONS None. C. PUBLIC COMMUNICATIONS None. D. CONSENT CALENDAR D1. Consideration of Meeting Minutes for the Special Meeting of: April 5, 2022. D2. Consideration of a Resolution Adopting a Conflict of Interest Code. (PFA Resolution No. 2022-001) (EIFD) MOTION: Moved by Board Member Daniels, seconded by Board Member Scott, to approve Consent Calendar items D1 and D2, with Board Member Oaxaca and Hutchison abstaining on item D1. Motion carried, 4-0-1; Absent: Kennedy. E. ITEMS FOR DISCUSSION – None. F.ADVERTISED PUBLIC HEARINGS ITEM(S) F1. Public Hearing to Receive Revisions to the Infrastructure Financing Plan (IFP) and Receive Comments Related to the Rancho Cucamonga Enhanced Infrastructure Financing District (EIFD) and Infrastructure Financing Plan (PFA). Finance Director Daniels provided a Staff Report. Board Member Scott opened the Public Hearing. There were no public communications made. Board Member Scott closed the Public Hearing. No action required. Board Member Scott thanked staff for their report. G. ADJOURNMENT - The meeting adjourned at 6:06 p.m. Respectfully submitted, __________________________________ Patricia Bravo-Valdez, MMC Acting Secretary Approved: ***************** DATE:June 14, 2022 TO:Chairman and Board Members of the Rancho Cucamonga EIFD Public Financing Authority FROM:Lori Sassoon, Deputy City Manager/Administrative Services Noah Daniels, Finance Director SUBJECT:Public Hearing to Receive Comments Related to the Rancho Cucamonga Enhanced Infrastructure Financing District (EIFD) and Infrastructure Financing Plan. (PFA) RECOMMENDATION: It is recommended that the Rancho Cucamonga Public Financing Authority (PFA) receive written and oral comments from the public about the EIFD and IFP. BACKGROUND: On February 16, 2022, the City Council adopted a Resolution of Intention (ROI) to initiate the establishment to form the Rancho Cucamonga Enhanced Infrastructure Financing District (EIFD) and establish the Rancho Cucamonga EIFD Public Financing Authority (PFA). Additionally, on the same date, the Rancho Cucamonga Fire Protection Board of Directors adopted a Resolution to Participate in the EIFD and have membership in the PFA. Pursuant to the Resolution of Intention, the PFA was established as the governing board of the proposed EIFD. On March 8, 2022, the PFA ordered the preparation of the Infrastructure Financing Plan as required by California Government Code Section regarding Enhanced Infrastructure Financing Districts (Government Code Section 53398.50-53398.88). On March 24, 2022, the draft IFP was made available to the PFA, the Planning Commission, and each resident and owner of the land and affected taxing entities in the proposed EIFD. Then at the public meeting on April 5, 2022, the PFA received a presentation of the IFP, taking no action at that time. On April 13, 2022, the Planning Commission was provided a presentation of the IFP and adopted a Resolution to make findings of General Plan conformance and review the CEQA documentation. On May 10, 2022, the PFA received revisions to the IFP and conducted the first of three public hearings to receive written and oral comments from the public about the EIFD and IFP. There were no comments from the public at that meeting. On May 18, 2022, the City Council and Rancho Cucamonga Fire Protection Board approved the IFP and allocated a portion of their incremental property tax. ANALYSIS: No written or oral comments have been provided by the public or affected taxing entities on the IFP or EIFD. City of Rancho Cucamonga Rancho Cucamonga EIFD Public Financing Authority Page 2 1 3 3 9 On May 10, 2022, as detailed in the staff report for that day, the PFA received revisions to the IFP. The current draft IFP is posted to the EIFD's website for the public's review. Next Steps Following the PFA's public meeting and hearing on June 14, 2022, the PFA must hold one more public hearing before the approval of the final IFP. A summary of the key actions for establishing the EIFD, as well as estimated dates of completion, is as follows: Task Target Date Notes PFA holds Public Hearing #3 and protest proceeding July 19, 2022 If majority protest exists – takes action to terminate EIFD. If no majority protest, PFA can propose adoption of the IFP and form the EIFD Staff files EIFD with BOE per guidelines for Change of Jurisdictional Boundaries Late 2022 In the event of a majority protest by property owners or residents within the boundaries, the formation proceedings would be discontinued. FISCAL IMPACT: None by this action. ATTACHMENTS: Attachment 1 – Draft Infrastructure Financing Plan CITY OF RANCHO CUCAMONGA ENHANCED INFRASTRUCTURE FINANCING DISTRICT INFRASTRUCTURE FINANCING PLAN APRIL 2022 Prepared By: Prepared For: The City of Rancho Cucamonga Attachment 1 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 ..................................................................................... 7 3.0 Description of Proposed Facilities and Development ........................................................... 8 4.0 Finding of Communitywide Significance ............................................................................ 12 5.0 Financing Section ............................................................................................................... 13 6.0 Removal of Dwelling Units and Replacement Housing Plan .............................................. 18 7.0 Goals of the District ............................................................................................................ 19 8.0 Appendices ........................................................................................................................ 20 Index of 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 Environmental Impact Report Attachment 1 Rancho Cucamonga EIFD Proposed Infrastructure Financing Plan April 2022 Page 3 1.0 Introduction 1.1 Background & Purpose Background. Pursuant to its Resolution No. 2022-029, which was adopted by the City Council of the City of Rancho Cucamonga on February 16, 2022 (the “Resolution of Intention”) and Part 1 of Division 2 of Title 5 of the California Government Code (the “EIFD Law”), the City Council of the City of Rancho Cucamonga (the “City”) declared its intention to establish the Rancho Cucamonga Enhanced Infrastructure Financing District (“Rancho Cucamonga EIFD” or “District”). Pursuant to the same Resolution No. 2022-029, which was adopted by the City Council on February 16, 2022, the City Council of the City established the “Rancho Cucamonga EIFD Public Financing Authority” (“PFA”) as the governing body of the Rancho Cucamonga EIFD. Pursuant to its Resolution No. FD 2022-003, which was adopted by the Board of Directors of the Rancho Cucamonga Fire Protection District on February 16, 2022 and the EIFD Law, the Rancho Cucamonga Fire Protection District (“Fire District”) declared its intention to participate in the Rancho Cucamonga EIFD and newly formed PFA. At its inaugural meeting on March 8, 2022, the PFA directed its Executive Director, who is the City Manager of the City, to prepare an infrastructure financing plan (“IFP”) for the Rancho Cucamonga EIFD. Purpose of the Rancho Cucamonga EIFD. The Rancho Cucamonga EIFD is intended to serve as a catalyst for private sector investment and critical public infrastructure with transformative potential for the Rancho Cucamonga EIFD area and the City as a whole. The Rancho Cucamonga EIFD encompasses approximately 1,500 acres of land, representing approximately 6.0% of the total approximately 25,677 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. 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. Attachment 1 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 larger than the area of the District. This information is included in Section 4 of this IFP. d) A financing section (included in Section 5 of this IFP), which contains all of the following information: 1) A specification of the maximum portion of the incremental tax revenue of the City and Fire District proposed to be committed to the District for each year during which the District will receive incremental tax revenue. The portion may change over time. Section 5.1 and Table 3 of this IFP details the maximum portion of the incremental property tax revenue of the City and Fire District proposed to be committed to the District throughout the duration of the District lifetime, which is projected to be forty-five (45) years from the date on which the issuance of bonds is approved by the PFA. In summary, the maximum portion of the City’s property tax increment 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 in a gradual manner to approximately 5% at District termination. The proposed contribution scenario is intended to focus on funding debt service for bonds issued approximately four to six years following District formation, as well as maintenance of funded infrastructure improvements. 2) A projection of the amount of tax revenues expected to be received by the District in each year during which the District will receive tax revenues. Section 5.2 and Table 3 of this IFP includes a projection of tax revenues to be received by the District by year over the course of the District’s lifetime, as described in the 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. Attachment 1 Rancho Cucamonga EIFD Proposed Infrastructure Financing Plan April 2022 Page 5 3) A plan for financing the public facilities to be assisted by the District, including a detailed description of any intention to incur debt. Section 5.4 of this IFP includes a plan for financing the public facilities to be assisted by the District. The PFA intends to incur debt only when it is financially prudent to do so. It is estimated at this time that the Rancho Cucamonga EIFD will provide funding for approximately $100 million (in present value dollars) of public improvement costs from a combination of tax increment bond or loan proceeds (multiple issuances may be necessary) and pay-as-you-go tax increment funding over the District lifetime. 4) A limit on the total number of dollars of taxes that may be allocated to the District pursuant to the plan. The total number of dollars of taxes that may be allocated to the District shall not exceed $500,000,000 in nominal dollars. 5) A date on which the District will cease to exist, by which time all tax allocation to the district will end. The date shall not be more than 45 years from the date on which the issuance of bonds is approved pursuant to subdivision (a) of Section 53398.81, or the issuance of a loan is approved by the governing board of a local agency pursuant to Section 53398.87. The District will cease to exist on the earlier of: (i) forty-five (45) years from the date on which the issuance of bonds is approved by the PFA, or (ii) June 30, 2072. This IFP assumes that the District will be formed in Fiscal Year 2021-2022 and will begin receiving tax revenues in Fiscal Year 2022-2023. 6) An analysis of the costs 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 expected to be received by the City as a result of expected development in the area of the District. 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. Appendix D also includes an analysis of the tax, fee, charge, and other revenues expected to be received by the City as a result of expected development in the area of the District. It is estimated that, at Year 20 of the District lifetime (assumed stabilized buildout of the District area), annual costs to the City will be approximately $20.2 million and annual revenues are approximately $25.5 million. Additionally, annual costs to the Fire District at Year 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 Attachment 1 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 developer of a project that is both located entirely within the boundaries of the District and qualifies for the Transit Priority Project Program, pursuant to Section 65470. e) If any dwelling units within the territory of the District are proposed to be removed or destroyed in the course of public works construction within the area of the district or private development within the area of the district that is subject to a written agreement with the District or that is financed in whole or in part by the District, a plan providing for replacement of those units and relocation of those persons or families consistent with the requirements of Section 53398.56. The PFA does not anticipate that any housing units will be removed as a result of any project identified in this IFP. However, if any relocation of dwelling units is deemed to be required in the future for a project financed by the District, the PFA will comply with the requirements of Government Code Section 53398.56. f) The goals the District proposes to achieve for each project financed pursuant to Section 53398.52. Section 7 of this IFP summarizes the goals of each project to be financed by the District. Attachment 1 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. Land use designations in the District primarily include residential, commercial / hotel / retail / office, industrial, and several public use parcels. Appendix A includes a map of the proposed District, and Appendix B is a legal description of the District. Attachment 1 Rancho Cucamonga EIFD Proposed Infrastructure Financing Plan April 2022 Page 8 3.0 Description of Proposed Facilities and Development 3.1 Anticipated Future Private Development Anticipated future private development within the Rancho Cucamonga EIFD is summarized in Table 1 below, with greater detail provided in Appendix C. Buildout and absorption of these land uses are forecasted in the first 20 years of the District lifetime. Table 1: Anticipated Future Private Development Development Type SF / Units AV Per SF / Unit Estimated AV at Buildout (2022 Nominal Value) For-sale Residential 1,514 units $618,074 per unit $936 million Rental Residential 10,253 units $317,440 per unit $3.255 billion Commercial / Retail 922,000 SF $274 PSF $253 million Office 222,000 SF $211 PSF $47 million Industrial 6,272,400 SF $172 PSF $1.079 billion Hotel 171 rooms $162,000 per room $28 million Estimated Total $5.597 billion Source: City of Rancho Cucamonga Planning and Economic Development Staff, CoStar Property (2022) 3.2 Public Facilities to be Financed with Assistance from the Rancho Cucamonga EIFD The EIFD Law authorizes the Rancho Cucamonga EIFD to finance 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, if they are of communitywide significance and provide significant benefits to the Rancho Cucamonga EIFD or the surrounding community. The PFA intends to utilize the District to fund infrastructure projects of communitywide significance that provide significant benefits to the region over the District lifetime. Table 2 identifies the targeted infrastructure improvements to receive EIFD funding over the District’s lifetime. Attachment 1 Rancho Cucamonga EIFD Proposed Infrastructure Financing Plan April 2022 Page 9 Table 2: Potential Priority Projects for Receipt of EIFD Funding # PROJECT ESTIMATED COST ESTIMATED TIMING 1 Parking infrastructure and related improvements between Haven Avenue and Day Creek Boulevard along Foothill Corridor $20-40 million 2028-2032 2 Transportation Connectivity Improvements linking Cucamonga Station and Haven / Arrow focus area $40-60 million 2028-2032 Estimated Total Priority Projects $60-100 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 or the surrounding community. The Rancho Cucamonga EIFD may also finance the ongoing or capitalized costs to maintain public capital facilities financed in whole or in part by the Rancho Cucamonga EIFD. Facilities funded may be located outside the boundaries of the Rancho Cucamonga EIFD, as long as they have a tangible connection to the work of the Rancho Cucamonga EIFD. The Rancho Cucamonga EIFD will also finance planning and design activities that are directly related to the purchase, construction, expansion, or rehabilitation of these projects. Projects financed by the Rancho Cucamonga EIFD may include, but not be limited to, all of the following:  Highways, interchanges, and ramps;  Bridges;  Arterial streets;  Parking facilities;  Transit facilities;  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;  Storm water conveyance and collection facilities;  Flood control levees and dams, retention basins, and drainage channels;  Child care facilities;  Libraries;  Broadband and telecommunications infrastructure;  Sidewalks and streetscape improvements;  Bicycle lanes and paths;  Public art; Attachment 1 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 fostering economic recovery from the COVID-19 pandemic and of ensuring the long-term economic sustainability of small businesses;  Projects that enable communities to adapt to the impacts of climate change, including, but not limited to, higher average temperatures, decreased air and water quality, the spread of infectious and vector-borne diseases, other public health impacts, extreme weather events, sea level rise, flooding, heat waves, wildfires, and drought;  Facilities in which nonprofit community organizations provide health, youth, homeless, and social services. 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 relocation and demolition costs incidental to the construction of the facilities; costs of legal services; and costs of project/construction management. In addition, the Rancho Cucamonga EIFD may finance any other expenses incidental to the formation, administration1 and implementation of the Rancho Cucamonga EIFD and to the construction, completion, inspection and acquisition of the authorized facilities, including, but not limited to, the costs of creation and administration of the Rancho Cucamonga EIFD; costs of 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, 1 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. Attachment 1 Rancho Cucamonga EIFD Proposed Infrastructure Financing Plan April 2022 Page 11 Fire District, or the Rancho Cucamonga EIFD in connection with the division of taxes pursuant to Government Code section 53398.75; and legal costs. Targeted improvements would conform to established guidelines in adopted planning documentation, such as the City General Plan. The PFA intends to continue to identify, evaluate, and pursue additional funding sources and financing mechanisms aside from District tax increment to implement the 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. 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 jointly by the private sector and governmental entities; however, it is possible that private sector developers may advance funding for improvements, and those advances may be partially reimbursed with EIFD proceeds. Such case- specific agreements would come before the PFA for approval at the appropriate time. In accordance with Government Code Section 53398.69, the Rancho Cucamonga EIFD may expend up to 10 percent of any accrued tax increment in the first two years of the effective date of the Rancho Cucamonga EIFD on planning and dissemination of information to the residents within the Rancho Cucamonga EIFD boundaries about the IFP and planned activities to be funded by the Rancho Cucamonga EIFD, including reimbursement of the City’s advanced funding of such eligible costs. In addition, in accordance with Government Code Section 53398.76, costs incurred by the County of San Bernardino in connection with the division of taxes for the Rancho Cucamonga EIFD are eligible to be paid by the Rancho Cucamonga EIFD. Attachment 1 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. The District supports job creation, housing production, improvement of quality of life, and promotion of environmental sustainability. Specific communitywide and regional benefits anticipated to be generated by the District include:  Approx. $146 million in net fiscal impact to the City over 50 years (on a present-value basis)  Approx. $57 million in net fiscal impact to the Fire District over 50 years (on a present- value basis)  Approx. 11,767 housing units within the District upon buildout and stabilization  69,452 direct, indirect, and induced temporary, construction-related job-years2 in the City and County  7,440 direct, permanent jobs in the City upon buildout and stabilization  2,575 additional indirect and induced permanent jobs in the City and County (total of 10,015 direct, indirect, and induced jobs) upon buildout and stabilization  $8.115 billion in economic output from construction in the City and County  $1.136 billion in annual ongoing economic output in the City and County upon buildout and stabilization. 2 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. Attachment 1 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 increment will be utilized on both a “pay- as-you-go” basis as well as security for tax increment bond issuance or loan acquisition. Definition of Tax Increment. For purposes of clarity, the phrases “tax increment,” “incremental property tax” and “incremental tax revenue”, as used in this IFP and the EIFD Law, refer to the portion of future property tax revenue described in Section 53398.75(a)(2) of the EIFD Law, i.e., the difference between (A) and (B) in the following formula: (A) the taxes that would be produced by the rate upon which the tax is levied each year during the term of the Rancho Cucamonga EIFD upon the total sum of the assessed value of the taxable property in the EIFD in each such year minus (B) the taxes that would be produced by the rate upon which the tax is levied upon the total sum of the assessed value of the 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 EIFD 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 “base year.” The assessed value of the taxable property shown in such last equalized roll is approximately $729 million. This value is referred to as the “base year value”. Overlap with Boundaries of former Rancho Cucamonga Redevelopment Agency. The Rancho Cucamonga EIFD includes overlap with former Redevelopment Project Area boundaries 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. Attachment 1 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 duration of the District lifetime. In summary, the maximum portion of the City’s property tax increment 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 in a gradual manner to approximately 5% at District termination. The proposed contribution scenario is intended to focus on funding debt service for bonds issued approximately four to six years following District formation, as well as maintenance of funded infrastructure improvements. 5.2 Projection of District Tax Revenues by Year Table 3 provides an overview of the projected growth of assessed value, property tax increment, and City and Fire District allocations 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 the Fire District). 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. 5.3 Plan for 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 district formation (e.g., Community Facilities District), impact fees, private sector investment incentivized by the formation of the Rancho Cucamonga EIFD itself, and/or other sources. As it pertains to the use of District tax increment, the PFA intends to incur debt only when it is financially prudent to do so. It is estimated at this time that the Rancho Cucamonga EIFD will provide funding for approximately $100 million (in present value dollars) of public improvement costs from a combination of tax increment bond or loan proceeds (multiple issuances may be necessary) and pay-as-you-go tax increment funding over the District lifetime Attachment 1 Rancho Cucamonga EIFD Proposed Infrastructure Financing Plan April 2022 Page 15 5.4 Limit on Total Dollars Allocated to the District The total number of dollars of taxes that may be allocated to the District shall not exceed $500,000,000 in nominal dollars over the District lifetime. The City hereby irrevocably allocates all of the City’s share of tax increment as characterized herein to the Rancho Cucamonga EIFD to the extent that: (i) the City’s share of increment is necessary to repay bonds, notes or related agreements or to meet contractual obligations that the Rancho Cucamonga EIFD is obligated to satisfy with Rancho Cucamonga EIFD tax increment, and (ii) prior to the PFA incurring an obligation under subsection (i), such bonds, notes, agreements or obligations shall be approved by the City Council. 5.5 District Termination Date The District will cease to exist the earlier of: (i) forty five (45) years from the date on which the issuance of bonds is approved by the PFA, or (ii) June 30, 2072. This IFP assumes that the District will be formed in Fiscal Year 2021-2022 and will begin receiving tax revenues in Fiscal Year 2022- 2023. 5.6 Analysis of Costs to Provide Facilities and Services Appendix D to this IFP includes, as part of the Fiscal Impact Analysis, an analysis of the costs to the City for providing facilities and services to the area of the District while the area is being developed and after the area is developed. It is estimated that, at Year 20 of the District lifetime (assumed stabilized buildout of District area), annual costs to the City will be approximately $20.2 million to service the area of the District. Additionally, annual costs to the Fire District at Year 20 are estimated at $4.6 million. 5.7 Fiscal Impact Analysis Appendix D to this IFP includes an analysis of the projected fiscal impact of the District and the associated development upon the City and the Fire District, as the only affected taxing entities that are allocating tax increment revenues to the District. Table 4 presents an overview of fiscal impacts to the City and Fire District. It is estimated that, at Year 20 of the District lifetime, the District area will generate an annual net fiscal surplus of approximately $5.3 million to the City and an annual net fiscal surplus of approximately $1.2 million to the Fire District. Over 50 years, it is estimated that District activity will generate a positive net fiscal impact of approximately $146 million for the City and approximately $57 million for the Fire District on a present-value basis. This is in addition to the Community economic benefits outlined in Section 4 of this IFP (e.g., housing, jobs, mobility and connectivity, quality of life, environmental sustainability). Attachment 1 Rancho Cucamonga EIFD Proposed Infrastructure Financing Plan April 2022 Page 16 Table 3: Projection of District Revenues by Year Incremental Assessed Value Property Tax Increment @ 1% General Levy Average City Share Available City Increment Available Portion of City Share Allocated City Increment Allocated Average Fire District Share Available Fire District Increment Available Portion of Fire Share Allocated Fire Increment Allocated Total Taxes Allocated to EIFD 0 2021 / 2022 $0 $0 5.20% $0 100% $0 12.4% $0 80%$0 $0 1 2022 / 2023 $79,994,178 $799,942 5.20% $41,565 100% $41,565 12.4% $98,820 80% $79,056 $120,622 2 2023 / 2024 $1,460,958,382 $14,609,584 5.20% $759,118 100% $759,118 12.4% $1,804,788 80% $1,443,830 $2,202,948 3 2024 / 2025 $2,629,495,495 $26,294,955 5.20% $1,366,293 100% $1,366,293 12.4% $3,248,334 80% $2,598,667 $3,964,961 4 2025 /2026 $3,843,897,932 $38,438,979 5.20% $1,997,300 100% $1,997,300 12.4% $4,748,540 80% $3,798,832 $5,796,133 5 2026 / 2027 $5,123,419,002 $51,234,190 5.20% $2,662,143 100% $2,662,143 12.4% $6,329,190 80% $5,063,352 $7,725,495 6 2027 / 2028 $5,471,300,778 $54,713,008 5.20% $2,842,904 90% $2,558,613 12.4% $6,758,944 70% $4,731,261 $7,289,874 7 2028 / 2029 $5,830,756,681 $58,307,567 5.20% $3,029,678 90% $2,726,710 12.4% $7,202,996 70% $5,042,097 $7,768,808 8 2029 / 2030 $6,202,110,524 $62,021,105 5.20% $3,222,634 90% $2,900,371 12.4% $7,661,746 70% $5,363,222 $8,263,593 9 2030 / 2031 $6,585,694,440 $65,856,944 5.20% $3,421,946 90% $3,079,751 12.4% $8,135,605 70% $5,694,923 $8,774,675 10 2031 / 2032 $6,981,849,092 $69,818,491 5.20% $3,627,789 90% $3,265,010 12.4% $8,624,993 70% $6,037,495 $9,302,505 11 2032 / 2033 $7,136,074,915 $71,360,749 5.20% $3,707,925 80% $2,966,340 12.4% $8,815,515 60% $5,289,309 $8,255,649 12 2033 / 2034 $7,293,385,254 $72,933,853 5.20% $3,789,664 80% $3,031,731 12.4% $9,009,847 60% $5,405,908 $8,437,639 13 2034 / 2035 $7,453,841,799 $74,538,418 5.20% $3,873,038 80% $3,098,430 12.4% $9,208,066 60% $5,524,840 $8,623,270 14 2035 / 2036 $7,617,507,476 $76,175,075 5.20% $3,958,079 80% $3,166,463 12.4% $9,410,250 60% $5,646,150 $8,812,613 15 2036 / 2037 $7,784,446,466 $77,844,465 5.20% $4,044,821 80% $3,235,857 12.4% $9,616,477 60% $5,769,886 $9,005,743 16 2037 / 2038 $7,954,724,236 $79,547,242 5.20% $4,133,298 70% $2,893,308 12.4% $9,826,829 50% $4,913,414 $7,806,723 17 2038 / 2039 $8,128,407,561 $81,284,076 5.20% $4,223,544 70% $2,956,481 12.4% $10,041,388 50% $5,020,694 $7,977,175 18 2039 / 2040 $8,305,564,553 $83,055,646 5.20% $4,315,595 70% $3,020,917 12.4% $10,260,238 50% $5,130,119 $8,151,036 19 2040 / 2041 $8,486,264,685 $84,862,647 5.20% $4,409,488 70% $3,086,641 12.4% $10,483,465 50% $5,241,732 $8,328,374 20 2041 / 2042 $8,670,578,819 $86,705,788 5.20% $4,505,258 70% $3,153,680 12.4% $10,711,156 50% $5,355,578 $8,509,259 21 2042 / 2043 $8,858,579,236 $88,585,792 5.20% $4,602,943 60% $2,761,766 12.4% $10,943,402 40% $4,377,361 $7,139,127 22 2043 / 2044 $9,050,339,661 $90,503,397 5.20% $4,702,583 60% $2,821,550 12.4% $11,180,292 40% $4,472,117 $7,293,666 23 2044 / 2045 $9,245,935,295 $92,459,353 5.20% $4,804,215 60% $2,882,529 12.4% $11,421,920 40% $4,568,768 $7,451,297 24 2045 / 2046 $9,445,442,842 $94,454,428 5.20% $4,907,879 60% $2,944,728 12.4% $11,668,381 40% $4,667,352 $7,612,080 25 2046 / 2047 $9,648,940,539 $96,489,405 5.20% $5,013,617 60% $3,008,170 12.4% $11,919,771 40% $4,767,908 $7,776,079 26 2047 / 2048 $9,856,508,190 $98,565,082 5.20% $5,121,470 50% $2,560,735 12.4% $12,176,188 30% $3,652,856 $6,213,592 27 2048 / 2049 $10,068,227,195 $100,682,272 5.20% $5,231,480 50% $2,615,740 12.4% $12,437,734 30% $3,731,320 $6,347,060 28 2049 / 2050 $10,284,180,579 $102,841,806 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 $107,291,309 5.20% $5,574,887 50% $2,787,444 12.4% $13,254,178 30% $3,976,254 $6,763,697 31 2052 / 2053 $10,958,302,392 $109,583,024 5.20% $5,693,965 40% $2,277,586 12.4% $13,537,284 20% $2,707,457 $4,985,043 32 2053 / 2054 $11,192,057,280 $111,920,573 5.20% $5,815,425 40% $2,326,170 12.4% $13,826,052 20% $2,765,210 $5,091,381 33 2054 / 2055 $11,430,487,267 $114,304,873 5.20% $5,939,314 40% $2,375,726 12.4% $14,120,596 20% $2,824,119 $5,199,845 34 2055 / 2056 $11,673,685,853 $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 $119,217,484 5.20% $6,194,575 9% $557,512 12.4% $14,727,473 5% $736,374 $1,293,885 36 2057 / 2058 $12,174,772,219 $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% $593,724 12.4% $15,684,067 5% $784,203 $1,377,927 39 2060 / 2061 $12,964,613,365 $129,646,134 5.20% $6,736,450 9% $606,281 12.4% $16,015,771 5% $800,789 $1,407,069 40 2061 / 2062 $13,238,494,473 $132,384,945 5.20% $6,878,760 9% $619,088 12.4% $16,354,108 5% $817,705 $1,436,794 41 2062 / 2063 $13,517,853,203 $135,178,532 5.20% $7,023,915 9% $632,152 12.4% $16,699,213 5% $834,961 $1,467,113 42 2063 / 2064 $13,802,799,107 $138,027,991 5.20% $7,171,974 9% $645,478 12.4% $17,051,219 5% $852,561 $1,498,039 43 2064 / 2065 $14,093,443,930 $140,934,439 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 $4,901,246,175 $254,670,163 38% $97,757,347 $605,473,006 26% $157,930,876 $255,688,223 $2,127,176,505 $110,528,704 51% $55,963,836 $262,779,691 36% $93,907,319 $149,871,155 City Contribution Fire District Contribution Fiscal Year Total Present Value @ 3% Attachment 1 Rancho Cucamonga EIFD Proposed Infrastructure Financing Plan April 2022 Page 17 Table 4: Overview of Fiscal Impacts to City and Fire District 5.8 Developer Reimbursement for Transit Priority Project The PFA does not intend to finance any potential costs that may be incurred by reimbursing a developer of a project that is both located entirely within the boundaries of the District and qualifies for the Transit Priority Project Program, pursuant to Section 65470. To the extent that a developer is willing to fund Transit Priority Project infrastructure expenditures beyond and in advance of said developer’s fair share (not contemplated at this time), the PFA may consider and evaluate such reimbursement at the appropriate time. Annual (Stablized Year 20) Year 0-50 Nominal Total Year 0-50 Present Value @ 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 $20,218,100 $1,257,660,100 $505,229,600 Estimated Net Fiscal Impact to City $5,268,670 $364,427,900 $145,928,900 Rancho Cucamonga Fire Protection District Estimated Fiscal Revenues (Net of Allocation of TI to EIFD)$5,795,350 $463,975,600 $172,055,900 Estimated Fiscal Expenditures $4,613,300 $286,979,900 $115,294,800 Estimated Net Fiscal Impact to Fire District $1,182,050 $176,995,700 $56,761,100 Attachment 1 Rancho Cucamonga EIFD Proposed Infrastructure Financing Plan April 2022 Page 18 6.0 Removal of Dwelling Units and Replacement Housing Plan The PFA does not anticipate that any housing units will be removed as a result of any public works construction within the area of the District or private development within the area of the District that is subject to a written agreement with the District or that is financed in whole or in part by the District. However, if any relocation of dwelling units is deemed to be required in the future for a project financed by the District, the PFA will comply with the requirements of Government Code Section 53398.56. Attachment 1 Rancho Cucamonga EIFD Proposed Infrastructure Financing Plan April 2022 Page 19 7.0 Goals of the District As stated in the Resolution of Intention, the goal of the Rancho Cucamonga EIFD is to assist in the provision of public facilities of communitywide significance that provide significant benefits and promote economic development within the boundaries of the Rancho Cucamonga EIFD or the surrounding community and, for those facilities located outside the Rancho Cucamonga EIFD boundaries which also have a tangible connection to the Rancho Cucamonga EIFD. More specifically, the goals of the District’s implementation of the public facilities outlined in Section 3.2 are to support the City’s General Plan, facilitate implementation of regional connectivity through various modes of transportation, and to provide the infrastructure foundation for the development of critically-needed housing in the community and greater region. The District additionally aims to implement Statewide policy goals of housing supply and sustainable infrastructure investment. Additional objectives include economic development in the form of fiscal revenue generation for the City and other taxing entities, job creation, housing production, improvement of quality of life, and promotion of environmental sustainability. The District will be utilized to address critical infrastructure funding needs, which are are critical to catalyze private sector investment and development. Attachment 1 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 Attachment 1 APPENDIX C: Rancho Cucamonta EIFD - Projected Tax Increment Revenue Analysis DRAFT 0 1 2 3 4 5 6 7 Total 2021-2022 2023 2024 2025 2026 2027 2028 2029 New Development Rental Residential 10,253 units 202 units 236 units 2,583 units 2,583 units 2,583 units 413 units 413 units $317,440 per unit $3,575,048,904 $65,405,338 $77,942,440 $870,022,578 $887,423,029 $905,171,490 $147,785,952 $150,741,671 For Sale Residential 1,514 units 832 units 67 units 67 units 67 units 96 units 96 units $618,074 per unit $1,017,912,094 $535,012,766 $44,164,275 $45,047,560 $45,948,512 $66,820,964 $68,157,384 Commercial / Retail 922,000 SF 22,000 SF 284,667 SF 284,667 SF 284,667 SF 9,200 SF 9,200 SF $274 PSF $274,362,823 $6,271,531 $82,772,809 $84,428,265 $86,116,831 $2,838,830 $2,895,607 Office 222,000 SF 22,000 SF 40,000 SF 40,000 SF $211 PSF $54,292,954 $4,829,537 $9,504,811 $9,694,907 Hotel 171 units 71 units 100 units $162,000 per unit $29,852,790 $11,966,681 $17,886,109 Industrial 6,272,408 SF 4,072,408 SF 700,000 SF 700,000 SF 700,000 SF 20,000 SF 20,000 SF $172 PSF $1,139,938,574 $728,752,525 $127,769,443 $130,324,832 $132,931,329 $3,873,999 $3,951,479 Subtotal Value Add $6,091,408,138 $65,405,338 $1,364,775,479 $1,124,729,105 $1,147,223,687 $1,188,054,270 $230,824,556 $235,441,047 Total Assessed Value $729,442,030 $809,436,208 $2,190,400,412 $3,358,937,525 $4,573,339,962 $5,852,861,032 $6,200,742,808 $6,560,198,711 Incremental AV $79,994,178 $1,460,958,382 $2,629,495,495 $3,843,897,932 $5,123,419,002 $5,471,300,778 $5,830,756,681 Total tax increment @ 1%$799,942 $14,609,584 $26,294,955 $38,438,979 $51,234,190 $54,713,008 $58,307,567 City Share Available 5.20%$254,670,163 $41,565 $759,118 $1,366,293 $1,997,300 $2,662,143 $2,842,904 $3,029,678 Percent Allocated to EIFD 100%100%100%100%100%90%90% Amount Allocated to EIFD $97,757,347 $41,565 $759,118 $1,366,293 $1,997,300 $2,662,143 $2,558,613 $2,726,710 Fire District Share Equivalent Available 12.35%$605,473,006 $98,820 $1,804,788 $3,248,334 $4,748,540 $6,329,190 $6,758,944 $7,202,996 Percent Allocated to EIFD 80%80%80%80%80%70%70% Amount Allocated to EIFD $157,930,876 $79,056 $1,443,830 $2,598,667 $3,798,832 $5,063,352 $4,731,261 $5,042,097 Total Revenues Allocated to EIFD $255,688,223 $120,622 $2,202,948 $3,964,961 $5,796,133 $7,725,495 $7,289,874 $7,768,808 3/21/2022 Page 1 of 7 Attachment 1 APPENDIX C: Rancho Cucamonta EIFD - Projected Tax Increment Revenue Analysis DRAFT Total 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 Total Assessed Value Incremental AV Total tax increment @ 1% City Share Available 5.20%$254,670,163 Percent Allocated to EIFD Amount Allocated to EIFD $97,757,347 Fire District Share Equivalent Available 12.35%$605,473,006 Percent Allocated to EIFD Amount Allocated to EIFD $157,930,876 Total Revenues Allocated to EIFD $255,688,223 8 9 10 11 12 13 14 15 2030 2031 2032 2033 2034 2035 2036 2037 413 units 413 units 413 units $153,756,504 $156,831,634 $159,968,267 96 units 96 units 96 units $69,520,531 $70,910,942 $72,329,161 9,200 SF 9,200 SF 9,200 SF $2,953,519 $3,012,589 $3,072,841 40,000 SF 40,000 SF 40,000 SF $9,888,805 $10,086,581 $10,288,313 20,000 SF 20,000 SF 20,000 SF $4,030,508 $4,111,118 $4,193,341 $240,149,868 $244,952,865 $249,851,923 $0 $0 $0 $0 $0 $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 $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 $62,021,105 $65,856,944 $69,818,491 $71,360,749 $72,933,853 $74,538,418 $76,175,075 $77,844,465 $3,222,634 $3,421,946 $3,627,789 $3,707,925 $3,789,664 $3,873,038 $3,958,079 $4,044,821 90%90%90%80%80%80%80%80% $2,900,371 $3,079,751 $3,265,010 $2,966,340 $3,031,731 $3,098,430 $3,166,463 $3,235,857 $7,661,746 $8,135,605 $8,624,993 $8,815,515 $9,009,847 $9,208,066 $9,410,250 $9,616,477 70%70%70%60%60%60%60%60% $5,363,222 $5,694,923 $6,037,495 $5,289,309 $5,405,908 $5,524,840 $5,646,150 $5,769,886 $8,263,593 $8,774,675 $9,302,505 $8,255,649 $8,437,639 $8,623,270 $8,812,613 $9,005,743 3/21/2022 Page 2 of 7 Attachment 1 APPENDIX C: Rancho Cucamonta EIFD - Projected Tax Increment Revenue Analysis DRAFT Total 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 Total Assessed Value Incremental AV Total tax increment @ 1% City Share Available 5.20%$254,670,163 Percent Allocated to EIFD Amount Allocated to EIFD $97,757,347 Fire District Share Equivalent Available 12.35%$605,473,006 Percent Allocated to EIFD Amount Allocated to EIFD $157,930,876 Total Revenues Allocated to EIFD $255,688,223 16 17 18 19 20 21 22 23 2038 2039 2040 2041 2042 2043 2044 2045 $0 $0 $0 $0 $0 $0 $0 $0 $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 $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 $79,547,242 $81,284,076 $83,055,646 $84,862,647 $86,705,788 $88,585,792 $90,503,397 $92,459,353 $4,133,298 $4,223,544 $4,315,595 $4,409,488 $4,505,258 $4,602,943 $4,702,583 $4,804,215 70%70%70%70%70%60%60%60% $2,893,308 $2,956,481 $3,020,917 $3,086,641 $3,153,680 $2,761,766 $2,821,550 $2,882,529 $9,826,829 $10,041,388 $10,260,238 $10,483,465 $10,711,156 $10,943,402 $11,180,292 $11,421,920 50%50%50%50%50%40%40%40% $4,913,414 $5,020,694 $5,130,119 $5,241,732 $5,355,578 $4,377,361 $4,472,117 $4,568,768 $7,806,723 $7,977,175 $8,151,036 $8,328,374 $8,509,259 $7,139,127 $7,293,666 $7,451,297 3/21/2022 Page 3 of 7 Attachment 1 APPENDIX C: Rancho Cucamonta EIFD - Projected Tax Increment Revenue Analysis DRAFT Total 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 Total Assessed Value Incremental AV Total tax increment @ 1% City Share Available 5.20%$254,670,163 Percent Allocated to EIFD Amount Allocated to EIFD $97,757,347 Fire District Share Equivalent Available 12.35%$605,473,006 Percent Allocated to EIFD Amount Allocated to EIFD $157,930,876 Total Revenues Allocated to EIFD $255,688,223 24 25 26 27 28 29 30 31 2046 2047 2048 2049 2050 2051 2052 2053 $0 $0 $0 $0 $0 $0 $0 $0 $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 $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 $94,454,428 $96,489,405 $98,565,082 $100,682,272 $102,841,806 $105,044,530 $107,291,309 $109,583,024 $4,907,879 $5,013,617 $5,121,470 $5,231,480 $5,343,690 $5,458,144 $5,574,887 $5,693,965 60%60%50%50%50%50%50%40% $2,944,728 $3,008,170 $2,560,735 $2,615,740 $2,671,845 $2,729,072 $2,787,444 $2,277,586 $11,668,381 $11,919,771 $12,176,188 $12,437,734 $12,704,511 $12,976,624 $13,254,178 $13,537,284 40%40%30%30%30%30%30%20% $4,667,352 $4,767,908 $3,652,856 $3,731,320 $3,811,353 $3,892,987 $3,976,254 $2,707,457 $7,612,080 $7,776,079 $6,213,592 $6,347,060 $6,483,198 $6,622,059 $6,763,697 $4,985,043 3/21/2022 Page 4 of 7 Attachment 1 APPENDIX C: Rancho Cucamonta EIFD - Projected Tax Increment Revenue Analysis DRAFT Total 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 Total Assessed Value Incremental AV Total tax increment @ 1% City Share Available 5.20%$254,670,163 Percent Allocated to EIFD Amount Allocated to EIFD $97,757,347 Fire District Share Equivalent Available 12.35%$605,473,006 Percent Allocated to EIFD Amount Allocated to EIFD $157,930,876 Total Revenues Allocated to EIFD $255,688,223 32 33 34 35 36 37 38 39 2054 2055 2056 2057 2058 2059 2060 2061 $0 $0 $0 $0 $0 $0 $0 $0 $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 $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 $111,920,573 $114,304,873 $116,736,859 $119,217,484 $121,747,722 $124,328,565 $126,961,025 $129,646,134 $5,815,425 $5,939,314 $6,065,681 $6,194,575 $6,326,047 $6,460,148 $6,596,931 $6,736,450 40%40%9%9%9%9%9%9% $2,326,170 $2,375,726 $545,911 $557,512 $569,344 $581,413 $593,724 $606,281 $13,826,052 $14,120,596 $14,421,030 $14,727,473 $15,040,044 $15,358,867 $15,684,067 $16,015,771 20%20%5%5%5%5%5%5% $2,765,210 $2,824,119 $721,051 $736,374 $752,002 $767,943 $784,203 $800,789 $5,091,381 $5,199,845 $1,266,963 $1,293,885 $1,321,346 $1,349,357 $1,377,927 $1,407,069 3/21/2022 Page 5 of 7 Attachment 1 APPENDIX C: Rancho Cucamonta EIFD - Projected Tax Increment Revenue Analysis DRAFT Total 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 Total Assessed Value Incremental AV Total tax increment @ 1% City Share Available 5.20%$254,670,163 Percent Allocated to EIFD Amount Allocated to EIFD $97,757,347 Fire District Share Equivalent Available 12.35%$605,473,006 Percent Allocated to EIFD Amount Allocated to EIFD $157,930,876 Total Revenues Allocated to EIFD $255,688,223 40 41 42 43 44 45 46 47 2062 2063 2064 2065 2066 2067 2068 2069 $0 $0 $0 $0 $0 $0 $0 $0 $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 $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 $132,384,945 $135,178,532 $138,027,991 $140,934,439 $143,899,016 $146,922,885 $150,007,231 $153,153,264 $6,878,760 $7,023,915 $7,171,974 $7,322,994 $7,477,034 $7,634,155 $7,794,419 $7,957,888 9%9%9%9%9%9%9%9% $619,088 $632,152 $645,478 $659,069 $672,933 $687,074 $701,498 $716,210 $16,354,108 $16,699,213 $17,051,219 $17,410,266 $17,776,493 $18,150,045 $18,531,069 $18,919,712 5%5%5%5%5%5%5%5% $817,705 $834,961 $852,561 $870,513 $888,825 $907,502 $926,553 $945,986 $1,436,794 $1,467,113 $1,498,039 $1,529,583 $1,561,758 $1,594,576 $1,628,051 $1,662,196 3/21/2022 Page 6 of 7 Attachment 1 APPENDIX C: Rancho Cucamonta EIFD - Projected Tax Increment Revenue Analysis DRAFT Total 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 Total Assessed Value Incremental AV Total tax increment @ 1% City Share Available 5.20%$254,670,163 Percent Allocated to EIFD Amount Allocated to EIFD $97,757,347 Fire District Share Equivalent Available 12.35%$605,473,006 Percent Allocated to EIFD Amount Allocated to EIFD $157,930,876 Total Revenues Allocated to EIFD $255,688,223 48 49 50 2070 2071 2072 $0 $0 $0 $16,365,663,837 $16,692,977,113 $17,026,836,656 $15,636,221,807 $15,963,535,083 $16,297,394,626 $156,362,218 $159,635,351 $162,973,946 $8,124,626 $8,294,699 $8,468,173 9%9%9% $731,216 $746,523 $762,136 $19,316,129 $19,720,474 $20,132,905 5%5%5% $965,806 $986,024 $1,006,645 $1,697,023 $1,732,547 $1,768,781 3/21/2022 Page 7 of 7 Attachment 1 Appendix D: Rancho Cucamonga EIFD - Fiscal Impact Analysis DRAFT Overview of Fiscal Impacts Key Land Use Assumptions (Stabilized Year 25) Annual (Stablized Year 20) Year 0-50 Nominal Total Year 0-50 Present Value @ 3.0% 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 Project Component 3/21/2022 Page 1 of 16 Attachment 1 Appendix D: Rancho Cucamonga EIFD - Fiscal Impact Analysis DRAFT Summary of Estimated Fiscal Impacts to City and Fire Fund Stablized Year 5 Year 10 Year 15 Year 20 Year 25 Year 30 Year 40 Year 50 2027 2032 2037 2042 2047 2052 2062 2072 Stabilized Escalation Rate Year 0-50 Nominal Total Year 0-50 Present Value @ 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%$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)($2,866,400)($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%$17,015,400 $7,227,400 Sales and Use Tax - Direct / On-Site $4,210,900 $5,091,700 $5,902,700 $6,842,900 $7,932,700 $9,196,173 $12,358,888 $16,609,312 3.0%$428,828,800 $173,618,900 Sales and Use Tax - Indirect / Off-Site $2,113,600 $3,082,000 $3,572,800 $4,141,900 $4,801,600 $5,566,370 $7,480,736 $10,053,484 3.0%$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 $2,229,451 $2,996,196 3.0%$77,389,300 $31,349,600 Prop 172 Half Cent Sales Tax $145,500 $188,000 $218,000 $252,700 $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 $610,358 $820,270 $1,102,374 3.0%$28,494,100 $11,558,100 Animal Licenses $35,200 $52,100 $60,400 $70,000 $81,200 $94,133 $126,507 $170,015 3.0%$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%$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%$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 $446,700 $649,200 $752,600 $872,400 $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 $13,820,800 $18,787,100 $21,895,200 $25,486,770 $29,635,260 $34,425,225 $47,800,106 $62,260,607 $1,620,569,600 $650,817,300 City of Rancho Cucamonga Expenditures 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%$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 $45,181 $60,720 3.0%$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 $400 $464 $623 $838 3.0%$21,600 $8,700 Animal Care and Services $312,100 $461,700 $535,200 $620,500 $719,300 $833,866 $1,120,646 $1,506,054 3.0%$38,549,700 $15,465,100 Records Management $48,400 $70,300 $81,600 $94,500 $109,600 $127,056 $170,753 $229,478 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 $62,630 $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 $115,995 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 $825,900 $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%$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 $186,900 $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%$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 $1,230,794 $1,654,085 3.0%$42,391,900 $17,031,000 Planning $184,000 $267,500 $310,100 $359,500 $416,700 $483,070 $649,205 $872,477 3.0%$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%$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%$13,372,100 $5,372,200 Street Maintenance $238,700 $346,900 $402,200 $466,200 $540,500 $626,588 $842,081 $1,131,687 3.0%$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%$36,464,900 $14,628,700 Community Improvement $79,100 $115,000 $133,300 $154,500 $179,200 $207,742 $279,188 $375,205 3.0%$9,615,300 $3,862,800 Community Services $804,600 $1,169,300 $1,355,600 $1,571,500 $1,821,800 $2,111,966 $2,838,305 $3,814,445 3.0%$97,759,100 $39,274,800 Estimated Total Expenditures $10,342,900 $15,044,000 $17,440,400 $20,218,100 $23,438,700 $27,171,877 $36,516,731 $49,075,433 $1,257,660,100 $505,229,600 Estimated Annual Net Fiscal Impact $3,477,900 $3,743,100 $4,454,800 $5,268,670 $6,196,560 $7,253,348 $11,283,375 $13,185,174 $362,909,500 $145,587,700 Revenue / Expenditure Ratio 1.34 1.25 1.26 1.26 1.26 1.27 1.31 1.27 1.29 1.29 Notes: Assumes installation of necessary public infrastructure Values in 2022 dollars Select years shown for illustration 3/21/2022 Page 2 of 16 Attachment 1 Appendix D: Rancho Cucamonga EIFD - Fiscal Impact Analysis DRAFT Summary of Estimated Fiscal Impacts to City and Fire Fund Stablized Year 5 Year 10 Year 15 Year 20 Year 25 Year 30 Year 40 Year 50 2027 2032 2037 2042 2047 2052 2062 2072 Stabilized Escalation Rate Year 0-50 Nominal Total Year 0-50 Present Value @ 3.0% Rancho Cucamonga Fire Protection District Revenues Property Tax $6,272,400 $8,444,300 $9,323,200 $10,293,500 $11,364,900 $12,547,700 $15,295,600 $18,645,300 2.0%$574,110,900 $243,832,800 Property Tax Allocation to EIFD ($5,017,920)($5,911,010)($5,593,920)($5,146,750)($4,545,960)($3,764,310)($764,780)($932,265)2.0%($152,329,600)($88,401,900) Fire Fund - Other Revenues $332,100 $482,600 $559,500 $648,600 $751,900 $871,658 $1,171,436 $1,574,312 3.0%$40,348,100 $16,210,000 Estimated Total Revenues $1,586,580 $3,015,890 $4,288,780 $5,795,350 $7,570,840 $9,655,048 $15,702,256 $19,287,347 $462,129,400 $171,640,900 Rancho Cucamonga Fire Protection District Expenditures Fire Fund (Non-General Fund)$2,362,000 $3,432,700 $3,979,400 $4,613,300 $5,348,000 $6,199,798 $8,332,010 $11,197,524 3.0%$286,979,900 $115,294,800 Estimated Total Expenditures $2,362,000 $3,432,700 $3,979,400 $4,613,300 $5,348,000 $6,199,798 $8,332,010 $11,197,524 $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 $175,149,500 $56,346,100 Revenue / Expenditure Ratio 0.67 0.88 1.08 1.26 1.42 1.56 1.88 1.72 1.61 1.49 Notes: Assumes installation of necessary public infrastructure Values in 2022 dollars Select years shown for illustration 3/21/2022 Page 3 of 16 Attachment 1 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 A/V - SF Residential $618K Per Unit $705,605,362 $1,140,691,138 $1,259,415,188 $1,390,496,133 Estimated A/V - MF Residential $317K Per Unit $2,869,024,452 $3,967,476,157 $4,380,414,262 $4,836,331,297 Estimated A/V - Hotel $162K Per Room $30,585,246 $33,768,583 $37,283,245 $41,163,715 Estimated A/V - Retail $274 PSF $265,005,891 $307,952,122 $340,004,027 $375,391,919 Estimated A/V - Office $211 PSF $5,125,143 $57,100,137 $63,043,165 $69,604,748 Estimated A/V - 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 3/21/2022 Page 4 of 16 Attachment 1 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 3/21/2022 Page 5 of 16 Attachment 1 Appendix D: Rancho Cucamonga EIFD - Fiscal Impact Analysis DRAFT Property Tax Year 5 Year 10 Year 15 Year 20 Year 30 Year 40 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 $12,357,299,568 $15,063,479,220 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)($3,407,600)($3,292,030)($2,866,400)($628,938)($766,674) Net Property Tax to City $0 $385,800 $851,900 $1,410,870 $2,866,400 $6,359,262 $7,751,926 Rancho Cucamonga Fire District 12.07%$6,272,400 $8,444,300 $9,323,200 $10,293,500 $12,547,700 $15,295,600 $18,645,300 Fire District Allocation to EIFD - Percent 80%70%60%50%30%5%5% Fire District Allocation to EIFD - Dollar Amount ($5,017,920)($5,911,010)($5,593,920)($5,146,750)($3,764,310)($764,780)($932,265) Net Property Tax to Fire District $1,254,480 $2,533,290 $3,729,280 $5,146,750 $8,783,390 $14,530,820 $17,713,035 Notes: General levy distributions represent primary tax rate areas (TRAs) 4000, 4002, 4004, 4058, 4083, 4085, 4008, 4080 Does not include property tax overrides above 1% general levy Select years shown for illustration Values in 2022 dollars Source: San Bernardino County Auditor-Controller (2022) 3/21/2022 Page 6 of 16 Attachment 1 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) 3/21/2022 Page 7 of 16 Attachment 1 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) 3/21/2022 Page 8 of 16 Attachment 1 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. 3/21/2022 Page 9 of 16 Attachment 1 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. 3/21/2022 Page 10 of 16 Attachment 1 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. 3/21/2022 Page 11 of 16 Attachment 1 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) 3/21/2022 Page 12 of 16 Attachment 1 Appendix D: Rancho Cucamonga EIFD - Fiscal Impact Analysis DRAFT Multipler Revenue and Expenditure Factors Year 5 Year 10 Year 15 Year 20 Budget Category Adopted City Budget Allocation Basis Relevant City Population / Factor Discount for Operational Efficiency Per Capita Factor Annual Escalation 2027 2032 2037 2042 Revenues Prop 172 Half Cent Sales Tax $735,370 As % of Total Sales Tax $31,965,020 0%2.30%N/A 2.30%2.30%2.30%2.30% Franchise Fees $7,572,760 Service Population 215,051 0%$35.21 3.0%$40.82 $47.32 $54.86 $63.60 Business Licenses (incl. penalties)$2,698,710 Per Employee 79,840 0%$33.80 3.0%$39.19 $45.43 $52.66 $61.05 Animal Licenses $270,000 Per Resident 175,131 0%$1.54 3.0%$1.79 $2.07 $2.40 $2.78 Fines and Forfeitures $1,004,750 Service Population 215,051 0%$4.67 3.0%$5.42 $6.28 $7.28 $8.44 Use of Money and Property $1,553,990 Service Population 215,051 0%$7.23 3.0%$8.38 $9.71 $11.26 $13.05 Charges for Services $3,472,090 Per Resident 175,131 0%$19.83 3.0%$22.98 $26.64 $30.89 $35.81 Intergovernmental $214,580 Service Population 215,051 0%$1.00 3.0%$1.16 $1.34 $1.55 $1.80 Other Revenue $3,598,000 Service Population 215,051 0%$16.73 3.0%$19.40 $22.48 $26.07 $30.22 Transfers In $1,722,910 Service Population 215,051 0%$8.01 3.0%$9.29 $10.77 $12.48 $14.47 Fire Fund - Other Revenues $2,674,960 Service Population 215,051 0%$12.44 3.0%$14.42 $16.72 $19.38 $22.47 Total Selected Revenues $25,518,120 Expenditures Police $46,958,580 Service Population 215,051 0%$218.36 3.0%$253.14 $293.46 $340.20 $394.38 Non-departmental $5,863,390 Service Population 215,051 25%$20.45 3.0%$23.71 $27.48 $31.86 $36.93 City Council $137,600 Service Population 215,051 25%$0.48 3.0%$0.56 $0.64 $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 $6.36 Finance $1,598,930 Service Population 215,051 25%$5.58 3.0%$6.46 $7.49 $8.69 $10.07 Innovation and Tech Services $3,917,550 Service Population 215,051 25%$13.66 3.0%$15.84 $18.36 $21.29 $24.68 Human Resources $596,590 Service Population 215,051 25%$2.08 3.0%$2.41 $2.80 $3.24 $3.76 Procurement $266,770 Service Population 215,051 25%$0.93 3.0%$1.08 $1.25 $1.45 $1.68 Risk Management $298,600 Service Population 215,051 25%$1.04 3.0%$1.21 $1.40 $1.62 $1.88 Treasury Management $6,140 Service Population 215,051 25%$0.02 3.0%$0.02 $0.03 $0.03 $0.04 City Telecommunications $241,490 Service Population 215,051 25%$0.84 3.0%$0.98 $1.13 $1.31 $1.52 Economic and Comm. Development $886,470 Service Population 215,051 25%$3.09 3.0%$3.58 $4.15 $4.82 $5.58 Building and Safety $1,911,330 Service Population 215,051 25%$6.67 3.0%$7.73 $8.96 $10.39 $12.04 Engineering $2,569,690 Service Population 215,051 25%$8.96 3.0%$10.39 $12.04 $13.96 $16.19 Fire Facilities Maintenance $372,330 Service Population 215,051 25%$1.30 3.0%$1.51 $1.75 $2.02 $2.35 City Facilities Maintenance $3,747,020 Service Population 215,051 25%$13.07 3.0%$15.15 $17.56 $20.36 $23.60 Planning $1,976,590 Service Population 215,051 25%$6.89 3.0%$7.99 $9.26 $10.74 $12.45 Planning Commission $20,390 Service Population 215,051 25%$0.07 3.0%$0.08 $0.10 $0.11 $0.13 Vehicle and Equip. Maintenance $1,181,990 Service Population 215,051 25%$4.12 3.0%$4.78 $5.54 $6.42 $7.45 Street Maintenance $2,563,580 Service Population 215,051 25%$8.94 3.0%$10.36 $12.02 $13.93 $16.15 Park Maintenance $3,016,970 Per Resident 175,131 25%$12.92 3.0%$14.98 $17.36 $20.13 $23.34 Community Improvement $849,820 Service Population 215,051 25%$2.96 3.0%$3.44 $3.98 $4.62 $5.35 Community Services $8,641,020 Service Population 215,051 25%$30.14 3.0%$34.94 $40.50 $46.95 $54.43 Fire Fund (Non-General Fund)$38,050,430 Service Population 215,051 50%$88.47 3.0%$102.56 $118.89 $137.83 $159.78 Total Selected Expenditures $133,210,840 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) 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 3/21/2022 Page 13 of 16 Attachment 1 Appendix D: Rancho Cucamonga EIFD - Fiscal Impact Analysis DRAFT Multipler Revenues and Expenditures Year 5 Year 10 Year 15 Year 20 2027 2032 2037 2042 Estimated # Residents 19,708 25,152 25,152 25,152 Estimated # Employees 6,646 7,440 7,440 7,440 Total Project Service Population 23,031 28,872 28,872 28,872 Budget Category 2027 2032 2037 2042 Revenues Prop 172 Half Cent Sales Tax $145,500 $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 $919,800 $1,066,300 City Council $12,800 $18,600 $21,600 $25,000 City Management $100,500 $146,000 $169,300 $196,200 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 Admin. 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 $364,800 $530,100 $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 $348,900 $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 $110,100 $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 $18,476,700 $21,419,800 $24,831,400 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) 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 3/21/2022 Page 14 of 16Attachment 1 Appendix D: Rancho Cucamonga EIFD - Fiscal Impact Analysis DRAFT IMPLAN Inputs Construction Inputs Industry NAICS Category Approximate Inputs (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 Industry NAICS Category Approximate Inputs (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 3/21/2022 Page 15 of 16 Attachment 1 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. 3/21/2022 Page 16 of 16 Attachment 1