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File Number: 15-463 <br />facility will generate approximately $71,800 in annual sales tax in 2016 and approximately <br />$107,000 in 2017. The voluntary commitment to donate 1 % of gross receipts is estimated to <br />generate approximately $47,800 in 2016 and $71,800 in 2017, and HSL's voluntary <br />contribution of 10% of net income could equate to approximately $14,000 in 2016 and <br />$45,000 in 2017. The facility will also be required to pay an annual business license tax that <br />is set by a formula based on the number of employees, which will likely be in the order of less <br />than one thousand dollars annually. If the City were to adopt a gross receipts tax on local <br />sales of medical cannabis, such a tax could potentially generate in the order of several <br />hundred thousand dollars per year, depending upon the tax rate. <br />ATTACHMENTS <br />Harborside San Leandro Phase II & Phase III Application Materials and Overview of <br />Proposal <br />• Consulting Services Agreement with ICF Resources <br />• Copy of Deputy Attorney General James M. Cole's Memo to US Attorneys <br />PREPARED BY: Eric Engelbart, Assistant to the City Manager, City Manager's Office <br />City of San Leandro Page 10 Printed on 9/212015 <br />