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Draft Memorandum January 22, 2025 East Pleasanton Annexation Fiscal Impact Analysis Page 4 3.Property tax is estimated to represent the largest revenue source for Pleasanton General Fund. The proposed development program is estimated to generate a total assessed value (AV) of approximately $906 million, all of which would be considered new value to the City, since the project sites are currently located in the County. A substantial portion of the estimated General Fund revenues generated by the projects, including $2.3 million a year in property taxes and $267,000 annually in property tax in-lieu of vehicle license fees, are directly tied to the new assessed value generated by the projects. 4.Public Safety costs are expected to make up the largest additional expenditure impact on the City’s General Fund. Public Safety costs, which include Police and Fire, are estimated to make up 59 percent of the additional General Fund costs at approximately $1.1 million per year at project buildout. Public Works costs represent the next largest portion of estimated costs at approximately $429,000 per year. Assumptions and Methodology This section describes the methodology and calculations underlying the FIA estimates detailed in Summary Table 2 and Summary Table 3 above. The analysis evaluates the expected General Fund impacts of the proposed project if annexed, relative to if the projects move forward as is in Alameda County. The existing property sites are vacant land located in Alameda County and are estimated to have no impact on the City of Pleasanton’s General Fund, and therefore is not considered in these tables. The proposed projects may generate revenues for the City of Pleasanton outside of the General Fund, through one-time fees, which are not estimated in this analysis. The calculations and key assumptions used to estimate the impact on Pleasanton’s General Fund are described below, and the tables are attached to this memorandum. x Table 1 provides an overview of the project programs and assumptions related to new employment and calculates service population resulting from the projects.1 These assumptions were based on information provided by the applicant. Additional tables that follow detail supporting calculations for the projects, including both General Fund revenue calculations and General Fund cost calculations. General Fund Revenue Estimates x Table 2 summarizes the City of Pleasanton’s General Fund revenues by line item and the associated estimating factors used in this FIA to quantify new revenues from development. Some budget items are not estimated because certain City revenues and expenditures are not directly impacted by the existing development or proposed projects, such as Hotel / Motel Tax and Recreation Revenues, among others. 1 This analysis is focused on the City of Pleasanton’s General Fund and relies on cost estimates for the Mountain View “service population.” The service population is calculated as the number of residents plus 41% of employees, an industry-accepted approach to evaluating per capita demand for municipal services. The 41% weight applied to employees reflects their relatively lower demand for City public services compared to residents and is calculated in Appendix Table A-1. Page 226 of 749