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10A Action 2010 0405
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10A Action 2010 0405
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Last modified
6/5/2019 7:52:18 AM
Creation date
4/1/2010 4:31:39 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Staff Report
Document Date (6)
4/5/2010
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PERM
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_CC Agenda 2010 0405
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\City Clerk\City Council\Agenda Packets\2010\Packet 2010 0405
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Major Recurring General Fund Revenue Sources <br />Utility user tax revenues are estimated to represent the largest single source of General Fund <br />revenues to be generated by the Medical Center. Annual utility taxes are anticipated to total <br />approximately $91,000, which accounts for 37% of the Center's General Fund revenues. Gas <br />and electricity usage comprise the largest sources of utility tax revenues. <br />Sales/use tax revenues represent the second largest component of General Fund revenues to <br />be generated by the Medical Center. Totaling $60,000 per year or 25% of Center -generated tax <br />revenues, these taxes reflect a combination of on-site sales at the Center's cafeteria and gift <br />shop, use tax on equipment purchases, and off-site employee purchases in San Leandro. If the <br />Center does not generate use tax, projected revenues would decline by $23,000, resulting in a <br />total sales tax projection of $37,000 per year. <br />The third largest revenue source is anticipated to be business license fees generated by <br />physicians. Based on the legal opinion of the City's legal counsel, it is our understanding that <br />the Permanente Medical Group would be subject to the business license fee under the <br />"services" fee category. It is estimated that business license fees would generate approximately <br />$45,000 of annual revenue to the General Fund. <br />Exhibit B provides a graphic percentage breakdown of revenues to be generated by the Center. <br />As presented in Appendix Table B-3, if the Medical Center were not exempt form property taxes <br />or if Kaiser were to make an equivalent payment in lieu of taxes (pilot), it is estimated that <br />Phase 1 would generate approximately $982,000 of annual property taxes/property taxes in -lieu <br />of VLF to the City's General Fund. The other sources of revenue include franchise fees and <br />fines and forfeitures. <br />Net New Revenues <br />The loss of existing property tax revenues is anticipated to reduce Center -generated General <br />Fund revenues by more than 45%. After the deduction of existing property tax revenues, it is <br />estimated that Phase 1 of the Center will annually generate approximately $130,000 of General <br />Fund revenues. <br />Keyser Marston Associates, Inc. Page 8 <br />\\Sf-fs1\wp\19\19096\19096.036\003-001.doc; March 2009 <br />
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