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ATTACHMENT 2
<br />Exhibit 57
<br />Johnson Drive Economic Development Zone (EDZ)
<br />Annual Net Fiscal Impact Analysis (1)
<br />City of Pleasanton General Fund
<br />FY 2015/16 Dollars
<br />General Fund Revenues and Expenditures Categories
<br />Option 1 Hotel
<br />(150 rooms)
<br />Option 2 Hotel
<br />(231 rooms)
<br />Phase I Buildout Phase I Buildout
<br />Net Fiscal Revenues (2)
<br />Property Taxes (3)
<br />Property Tax in Lieu of VLF (4)
<br />Retail Store Retail Sales Taxes (5)
<br />Other Retail Sales Taxes (Employees and Hotel Guests) (5)
<br />Transient Occupancy Taxes (5)
<br />Employee -Based Revenues (5)
<br />Sub -total
<br />$179,133 $351,450 S211,658 S383,975
<br />$20,711 $40,634 $24,472 $44,395
<br />$841,369 $1,634,439 $841,369 $1,634,439
<br />56,220 S24,104 $8.753 $24,637
<br />5410,625 $410,625 5632,363 5632.363
<br />$8,220 524,104 58.753 524,637
<br />51,468,278 $2,485,357 $1,727,367 52,744,445
<br />Expenditures (6) (7)
<br />General Government 56,848 $20,079 57,292 520,523
<br />Community Development 55,727 516,792 $6,098 517,163
<br />Operations Services $10,367 530,398 $11,039 531,070
<br />Community Services 53,337 59,785 53,553 510,001
<br />Library $3,831 $11,234 54,080 511,483
<br />Police 522,720 $66,620 524,193 $68,094
<br />Fire 513,592 539.856 514,474 540.737
<br />Sub -total $66,422 $194,764 $70,728 5199,071
<br />General Fund Net Impact (8) (9) 51,401,857 $2,290,593 $1,656,639 52,545,375
<br />General Fund Net Impact Assuming Lower Club Retail Sales (9)(10)
<br />Amount $1,108,820 51,927,692 $1,363,603 52,182,474
<br />Percent of Net Impact Assuming Higher Club Retail Sales 79.1% 84.2% 82.3% 85.7%
<br />Sources: Memorandum, Brion & Associates. "Draft Summary - Johnson Drive EDZ Fiscal Impact Analysis, City of Pleasanton, February 5, 2015,
<br />and ALH Urban & Regional Economics.
<br />(1) Includes estimated General Fund revenues less estimated General Fund expenditures.
<br />(2) Includes the most substantial revenues anticipated to accrue to the City of Pleasanton General Fund resulting from the Project's stabilized
<br />operations. However, there may be yet additional revenues flowing to the General Fund pursuant to the Project's operations. This analysis also
<br />include the revenues and expenditures included in the Brion & Associates February 2015 analysis for the Johnson Drive EDZ.
<br />(3) See Exhibit 52.
<br />(4) See Exhibit 53.
<br />(5) See Exhibit 55.
<br />(6) The estimated service costs per employee were derived in Exhibit 56 These costs were multiplied by ttie estimated number of Project
<br />employees presented in Exhibit 47.
<br />(7) It is possible the City of Pleasanton may be responsible for a portion of the Project's transportation costs, but the amount of this expenditure is
<br />not presently identified. Thus. Project expenditures may increase by some as yet unidentified amount.
<br />(8) Comprises revenues less expenditures.
<br />(9) Depending upon whether or not the City funds a portion of the Project's transportation costs, as referenced in footnote (7), the net revenues
<br />generated by the Project may be lower than estimated.
<br />(10) The Brion & Associates analysis assumed a lower sales per square foot figure for the club retail space than assumed in the preceding urban
<br />decay analysis. This sales figure was 5700 per square foot (see Table A-3 in the Brion & Associates Memorandum). At this lesser level of sales
<br />performance the amount of sales tax generated by the club retail space would be lower. ALH Economics estimates that the Retail Store Retail
<br />Sales Taxes assuming the $700 per square foot sales performance would result in approximately 35% lower retail sales taxes for Hotel Option 1.
<br />and 22% lower retail sales taxes for Hotel Option 2. This estimation was determined through sensitivity analysis, and continues to include some
<br />assumption for diverted retail sales from existing retailers.
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