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Appendix Table B - 5 <br />OPPORTUNITY COST SCENARIO - HYPOTHETICAL OFFICE PROJECT ON SAME SITE <br />FISCAL IMPACT ANALYSIS <br />PROPOSED KAISER PERMANENTE MEDICAL CENTER <br />CITY OF SAN LEANDRO, CA <br />Hypothetical Office Project on Hospital Site <br />Building Area (approx. same as medical center) <br />38 acres <br />0.70 FAR <br />Employment <br />250 SF /Employee <br />SALES TAX <br />Expenditures by Office Workers Near Work <br />$3,800 /worker <br />50% in San Leandro <br />Annual General Fund Sales Tax @ 1% <br />PROPERTY TAX <br />Estimated Assessed Valuation <br />1,160,000 SF <br />$240 AV PSF (2) <br />Property Tax <br />13% City share of 1 % tax <br />PROPERTY TAX IN -LIEU OF VLF <br />$278,000,000 AV <br />$0.602 per $1,000 in AV (3) <br />UTILITY USER TAX <br />Estimated Utility Expense (4) <br />Gas <br />1,160,000 SF <br />$0.27 /SF/Year <br />Electric <br />1,160,000 SF <br />$1.40 /SF/Year <br />Estimated Utility User Tax <br />3% of utility expense (5) <br />BUSINESS LICENSE TAX <br />4,640 employees <br />$83.10 /employee <br />WORKING DRAFT 3/5/2010 <br />1,160,000 SF <br />4,640 employees <br />$8,800,000 <br />$88,000 <br />$278,000,000 <br />$352,000 <br />$167,000 <br />$313,000 <br />$1,624,000 <br />$1,937,000 <br />$58,000 <br />$386,000 <br />TOTAL MAJOR GENERAL FUND REVENUE SOURCES WITH OFFICE $1,051,000 <br />Notes: <br />(') Estimated annual spending near work based on 2003 International Council of Shopping Centers survey adjusted to 2009 dollars at CPI. <br />(2)Based on Marshall and Swift Valuation Service. Excludes land value already on tax rolls. <br />(3) See Table 5 - A <br />(4) Based on U.S. Department of Energy 2003 Energy Consumption Survey. Conservatively excludes phone, cable, satellite TV. <br />(5) Reflects large user rebate on utility user tax. <br />PREPARED BY: KEYSER MARSTON ASSOCIATES, INC. <br />\\Sf-fs1\wp\19\19096\19096.036\san leandro fiscal 03 05 10.x1s; b-5 office; 3/5/2010; dd <br />