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Appendix Table B - 4 OPPORTUNITY COST SCENARIO - HYPOTHETICAL RETAIL PROJECT ON SAME SITE FISCAL IMPACT ANALYSIS PROPOSED KAISER PERMANENTE MEDICAL CENTER CITY OF SAN LEANDRO, CA Hypothetical Retail Project on Hospital Site Building Area 38 acres 0.25 FAR 410,000 SF Employment 400 SF /Employee 1,025 employees SALES TAX (with hypothetical tenant mix) Sales PSF % Taxable % Net New Taxable Sales Anchor Tenants (1) 300,000 SF $400 95% 54% $61,600,000 Retail shops / restaurants 110,000 SF $400 90% 90% $35,600,000 Total 410,000 SF $97,200,000 Annual General Fund Sales Tax @ 1% $972,000 PROPERTY TAX Estimated Assessed Valuation 410,000 SF $150 AV PSF (2) $62,000,000 Property Tax 13% City share of 1 % tax $79,000 PROPERTY TAX IN -LIEU OF VLF $0.602 per $1,000 in AV (3) $37,000 UTILITY USER TAX Estimated Utility Expense (4) Gas 410,000 SF $0.25 annual expense PSF $103,000 Electric 410,000 SF $1.19 annual expense PSF $488,000 $591,000 Estimated Utility User Tax 3% of utility expense (5) $18,000 BUSINESS LICENSE TAX 1,025 employees $33.40 /employee $34,000 EMERGENCY COMMUNICATION SYSTEM ACESS TAX 530lines6 $2.07 /line/mo $13,000 TOTAL MAJOR GENERAL FUND REVENUE SOURCES WITH RETAIL $1,153,000 Notes: (1) Anchors assumed for general merchandise, home improvement, and home electronics categories. To be conservative, one of three anchors assumed to be a transfer of an existing retailer already located in San Leandro. t2% Based on Marshall and Swift Valuation Service. Excludes land value already on tax rolls. (3) See Table 5 - A (4) Based on U.S. Department of Energy 2003 Energy Consumption Survey. Conservatively excludes phone, cable, satellite TV. (5) Reflects large user rebate on utility user tax. (6) Estimated number of lines, provided by City staff. PREPARED BY: KEYSER MARSTON ASSOCIATES, INC. \\Sf-fs1\wp\19\19096\19096.036\san leandro fiscal 04.27.10.x1s; b-4 retail; 4/28/2010; dd