SUPPLEMENTAL MATERIAL - Laserfiche WebLink

Note: The fiscal analysis for this section of the Initiative is unrelated to the development of hillside homes; therefore,the fiscal analysis only looks at the impacts of multifamily units and single family detached units(which was shown in Table 1) and reproduced here in Table 9 (deleting the information related to hillside homes). Table 10 presents the operating impact if the number of remaining housing units was reduced by 396 (by counting 396 additional CLC units)towards the City's housing cap: Table 10 (Based on 398 additional units included in the City's Housing Cap for the CLC Project) Multifamily Single Family Revenues Property Tax $ 226,314.00 $ 1,232,154.00 Sales Tax $ 231.572.88, $ 347.359.32 Total Annual Revenues $ 457,886.88 $ 1,579,513.32 Expenditures Total Annual Expenditures $ 356,400.00 $ 1,386,000.00 Net Additional Revenues , $ 101,486.88 $ 193,513.32 Maximum Reduction $ 193,513.32 t Minimum Reduction $ 101,486.88 Based on the analysis in Table 10,the reduction in annual net revenues to the City by counting an additional 396 CLC units towards the City's housing cap(by assuming that these units fall within the Initiative's definition of housing unit)ranges from$101,000 annually(based on 100%of the homes that would otherwise be built being multifamily) to$194,000(based on 100%of the homes that would otherwise be built being single family). The actual reduction in annual net revenues to the City is dependent on the actual mix of homes ultimately developed. 36