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File Number: 20-051 <br />would have otherwise been generated (i.e. the marginal difference in revenue generated between <br />a 6% tax rate vs. the proposed 5% tax rate), it is conceivable the City could forgo approximately <br />$100,000 in revenue over the course of the upcoming fiscal year by reducing the cannabis tax <br />rates. However, this estimated reduction in revenue could potentially be mitigated based upon <br />several factors, including the specific future opening dates of the other cannabis businesses, and <br />the potential for slightly increased sales volume that could be generated throughout the City <br />because of a lower-tax environment for the cannabis industry. Such modified rates might also <br />support the competitiveness of San Leandro-based cannabis companies and help support their <br />long-term growth and financial success. <br />PREPARED BY: Eric Engelbart, Deputy City Manager, City Manager’s Office <br />Page 4 City of San Leandro Printed on 2/12/2020 <br />86