HomeMy WebLinkAbout17-26 PC Resolution PC RESOLUTION NO.17-26
A RESOLUTION OF THE PLANNING COMMISSION OF
THE CITY OF TEMECULA RECOMMENDING THAT THE
CITY COUNCIL ADOPT AN ORDINANCE ENTITLED "AN
ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
TEMECULA AMENDING TITLE 17 OF THE TEMECULA
ZONING CODE TO ADD A NEW ARTICLE XVI (CYPRESS
RIDGE PLANNED DEVELOPMENT OVERLAY DISTRICT
15) TO CHAPTER 17.22 (PLANNED DEVELOPMENT
OVERLAY ZONING DISTRICT) ON A 22.73 ACRE SITE
GENERALLY LOCATED ON THE NORTHEAST CORNER
OF PECHANGA PARKWAY AND LOMA LINDA ROAD
(APN: 961-450-003, 961-450-012, 961-450-013) (PA15-
1895)"
Section 1. Procedural Findings. The Planning Commission of the City of
Temecula does hereby find, determine and declare that:
A. On December 21, 2015, John Fitzpatrick filed Planning Application Nos.
PA15-1894, a General Plan Amendment; PA15-1895, a Zone Change/Planned
Development Overlay; PA15-1893, a Tentative Tract Map; and PA15-1892 a
Development Plan. These applications (collectively "Project") were filed in a manner in
accord with the City of Temecula General Plan and Development Code.
B. Collectively, the Project consists of a change in the General Plan
designation on the site from Professional Office (PO) to Medium Density (M) residential
and a rezone of the site from Professional Office (PO) to Cypress Ridge Planned
Development Overlay District (to be known as PDO-15). PDO-15 is a series of
standards and regulations that will govern all development on the property. These
standards and regulations address architectural style, setbacks, and building height.
Together, these regulations and standards seek to ensure cohesiveness in the design
and aesthetic appearance, and compatibility with the surrounding community. In
addition to the proposed PDO-15, the Project also includes a General Plan Amendment,
Tentative Tract Map, and a Development Plan for the construction of 245 residential
market rate units consisting of detached and attached cluster units and duplex/triplex
units, the conversion of 0.67-acres of an off-site existing concrete drainage ditch into a
landscaped infiltration basin, improvements to Pala Park and additional off-site
landscape improvements north of the Project site along Pechanga Parkway.
C. The Project was processed including, but not limited to a public notice, in
the time and manner prescribed by State and local law, including the California
Environmental Quality Act.
D. An Environmental Impact Report (EIR), Mitigation Monitoring and
Reporting Program, and Statement of Overriding Considerations were prepared for the
Project in accordance with the California Environmental Quality Act and the California
Environmental Quality Act Guidelines ("CEQA"). Thereafter, City staff circulated a
Notice of Completion indicating the public comment period and intent to adopt the EIR
as required by law. The public comment period commenced via the State Clearing
House from March 2, 2017 through April 17, 2017. A Notice of Availability was also
sent to property owners contiguous to the Project area indicating a review period of
March 2, 2017 through April 17, 2017. Copies of the documents have been available
for public review and inspection at the offices of the Community Development
Department, located at City Hall, 41000 Main Street, Temecula, California 92590; the
Ronald H. Roberts Temecula Public Library located at 30600 Pauba Road; Temecula
Grace Mellman Community Library located 41000 County Center Drive; and the City of
Temecula website.
E. On August 2, 2017, the Planning Commission also considered the Final
Environmental Impact Report ("EIR"), Planning Application Nos. PA15-1894, a General
Plan Amendment; PA15-1895, a Zone Change/Planned Development Overlay; PA15-
1893, a Tentative Tract Map; and PA15-1892, a Development Plan, at a duly noticed
public hearing as prescribed by law, at which time the City staff and interested persons
had an opportunity to, and did testify either in support of or opposition to this matter.
F. Following consideration of the entire record of information received at the
public hearing, the Planning Commission adopted Resolution No. 17- " A
RESOLUTION OF THE PLANNING COMMISSION OF THE CITY OF TEMECULA
RECOMMENDING THAT THE CITY COUNCIL CERTIFY THE ENVIRONMENTAL
IMPACT REPORT, ADOPT ENVIRONMENTAL FINDINGS PURSUANT TO THE
CALIFORNIA ENVIRONMENTAL QUALITY ACT, ADOPT A STATEMENT OF
OVERRIDING CONSIDERATIONS, AND ADOPT A MITIGATION MONITORING AND
REPORTING PROGRAM FOR THE CYPRESS RIDGE PROJECT, CONSISTING OF
APPROXIMATELY 22.73 ACRES GENERALLY LOCATED ON THE NORTHEAST
CORNER OF PECHANGA PARKWAY AND LOMA LINDA ROAD (APNS: 961-450-
003, 961-450-012, 961-450-013)." Resolution No. 17- and the findings therein are
hereby incorporated by this reference as set forth in full.
G. All legal preconditions to the adoption of this Resolution have occurred.
Section 2. Provisions for Fiscal Impact Payments
A. The City and owner estimate that the increased costs to the City of
providing public safety and other municipal services to the area resulting from the
General Plan Amendment and change of zone for the Project will substantially exceed
the municipal revenue from the Project ("City Services Deficit"). The City has received a
Fiscal Impact Analysis, dated as of July, 2017 ("FIA"), documenting the City Services
Deficit. The owners of the property within the Project, and their successors in interest,
shall pay the City the sum of four hundred twenty dollars ($420.00) per residential
dwelling unit within the Project each year as mitigation for the City Services Deficit.
Owner and its successors to the property within the Project may fulfill this obligation
through a community facilities district established by the City pursuant to the Mello-Roos
Community Facilities District Act of 1982, Government Code Section 53311, et seq., or
other appropriated financing mechanism approved by the City; provided, however, the
obligation of each owner and their successors to pay the City Services Deficit payment
under this obligation remains an obligation of the owner and its successors regardless
of the financing mechanism used to pay it and regardless of whether there is a financing
mechanism to pay it.
Section 3. Further Findings. The Planning Commission, in recommending
approval the Zone Change/Planned Development Overlay Application No. PA15-1895,
hereby finds, determines and declares that: Zone Change/Planned Development
Overlay Planning Application No. PA15-1895 is consistent with the General Plan for the
City of Temecula and with all applicable requirements of State law and other
Ordinances of the City:
A. The proposed Ordinance is in conformance with the General Plan for
Temecula and with all applicable requirements of State law and other Ordinances of the
City;
The proposed Zone Change/Planned Development Overlay Ordinance conforms
to the City of Temecula General Plan Land Use Element. Furthermore, the
proposed Zone Change/Planned Development Overlay Ordinance directly
responds to Goal 5 Policy 5.1 of the General Plan Land Use Element.
In addition to employing the City's planned development overlay zoning district
tool, the Project is consistent with the above General Plan Land Use Element
goal and policy in that it provides for a residential project in a predominately
residential corridor of the City, has been planned and evaluated for consistency
with the General Plan and its implementing programs (e.g., the planned
development overlay zoning district). Furthermore, the Project has been
designed to minimize impacts on surrounding land uses and infrastructure
through required design guidelines, building orientation, circulation and access
improvements, and other features and requirements of proposed Planned
Development Overlay 15. Additionally, mitigation measures are identified in the
EIR to further reduce the potential for impacts to surrounding uses and
infrastructure.
B. The proposed Ordinance is consistent with the Municipal Code and
Development Code for the City of Temecula;
The proposed Zone Change/Planned Development Overlay Ordinance is
consistent with the existing General Plan land use designation for the project site.
Planned Development Overlay 15 will establish the design and development
framework for the project. As proposed and conditioned, the project design will
be consistent with the General Plan and all applicable requirements of State Law
and other Ordinances of the City.
Section 4. Recommendation. The Planning Commission of the City of
Temecula recommends that the City Council adopt an Ordinance entitled "AN
ORDINANCE OF THE CITY COUNCIL OF THE CITY OF TEMECULA AMENDING
TITLE 17 OF THE TEMECULA ZONING CODE TO ADD A NEW ARTICLE XVI
(CYPRESS RIDGE PLANNED DEVELOPMENT OVERLAY DISTRICT 15) TO
CHAPTER 17.22 (PLANNED DEVELOPMENT OVERLAY ZONING DISTRICT) ON A
22.73 ACRE SITE GENERALLY LOCATED ON THE NORTHEAST CORNER OF
PECHANGA PARKWAY AND LOMA LINDA ROAD (APNS: 961-450-003, 961-450-012,
961-450-013) AND AMENDING THE TEMECULA ZONING MAP (PA15-1895)" in the
form attached hereto as Exhibit A, attached hereto, and incorporated herein by this
reference.
Section 5. PASSED, APPROVED AND ADOPTED by the City of Temecula
Planning Commission this 2nd day of August, 2017.
John Telesio, Chairman
ATTEST:
Lu e Watson
Secretary
[SEAL]
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE )ss
CITY OF TEMECULA )
I, Luke Watson, Secretary of the Temecula Planning Commission, do hereby
certify that the forgoing PC Resolution No. 17-26 was duly and regularly adopted by
the Planning Commission of the City of Temecula at a regular meeting thereof held on
the 2nd day of August, 2017, by the following vote:
AYES: 4 PLANNING COMMISSIONERS: Guerriero, Telesio, Turley-Trejo,
Youmans
NOES: 0 PLANNING COMMISSIONERS: None
ABSENT: 1 PLANNING COMMISSIONERS: Watts
ABSTAIN: 0 PLANNING COMMISSIONERS: None
4'��Zo -
Luke Watson
Secretary
EXHIBIT A- CITY COUNCIL ORDINANCE ZONE CHANGE AND PLANNED
DEVELOPMENT OVERLAY
ORDINANCE NO. -
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY
OF TEMECULA AMENDING TITLE 17 OF THE
TEMECULA ZONING CODE TO ADD A NEW ARTICLE
XVI (CYPRESS RIDGE PLANNED DEVELOPMENT
OVERLAY DISTRICT 15) TO CHAPTER 17.22 (PLANNED
DEVELOPMENT OVERLAY ZONING DISTRICT) ON A
22.73 ACRE SITE GENERALLY LOCATED ON THE
NORTHEAST CORNER OF PECHANGA PARKWAY AND
LOMA LINDA ROAD (APNS: 961-450-003, 961-450-012,
961-450-013) AND AMENDING THE TEMECULA ZONING
MAP (PA15-1895)"
THE CITY COUNCIL OF THE CITY OF TEMECULA DOES HEREBY ORDAIN
AS FOLLOWS:
Section 1. Procedural Findings. The City Council of the City of Temecula
does hereby find, determine and declare that:
A. On December 21, 2015, John Fitzpatrick filed Planning Application Nos.
PA15-1894, a General Plan Amendment; PA15-1895, a Zone Change/Planned
Development Overlay; PA15-1893, a Tentative Tract Map; and PA15-1892 a
Development Plan. These applications (collectively "Project') were filed in a manner in
accord with the City of Temecula General Plan and Development Code.
B. Collectively, the Project consists of a change in the General Plan
designation on the site from Professional Office (PO) to Medium Density (M) residential
and a rezone of the site from Professional Office (PO) to Cypress Ridge Planned
Development Overlay District (to be known as PDO-15). PDO-15 is a series of
standards and regulations that will govern all development on the property. These
standards and regulations address architectural style, setbacks, and building height.
Together, these regulations and standards seek to ensure cohesiveness in the design
and aesthetic appearance, and compatibility with the surrounding community. In
addition to the proposed PDO-15, the Project also includes a General Plan Amendment,
Tentative Tract Map, and a Development Plan for the construction of 245 residential
market rate units consisting of detached and attached cluster units and duplex/triplex
units, the conversion of 0.67-acres of an off-site existing concrete drainage ditch into a
landscaped infiltration basin, improvements to Pala Park and additional off-site
landscape improvements north of the Project site along Pechanga Parkway.
C. The Project was processed including, but not limited to a public notice, in
the time and manner prescribed by State and local law, including the California
Environmental Quality Act.
D. An Environmental Impact Report (EIR), Mitigation Monitoring and
Reporting Program, and Statement of Overriding Considerations were prepared for the
Project in accordance with the California Environmental Quality Act and the California
Environmental Quality Act Guidelines ("CEQA"). Thereafter, City staff circulated a
Notice of Completion indicating the public comment period and intent to adopt the EIR
as required by law. The public comment period commenced via the State Clearing
House from March 2, 2017 through April 17, 2017. A Notice of Availability was also
sent to adjacent property owners indicating a review period of March 2, 2017 through
April 17, 2017. Copies of the documents have been available for public review and
inspection at the offices of the Community Development Department, located at City
Hall, 41000 Main Street, Temecula, California 92590; the Ronald H. Roberts Temecula
Public Library located at 30600 Pauba Road; Temecula Grace Mellman Community
Library located 41000 County Center Drive; and the City of Temecula website.
E. On August 2, 2017, the Planning Commission considered the Final
Environmental Impact Report ("EIR") Planning Application Nos. PA15-1894, a General
Plan Amendment; PA15-1895, a Zone Change/Planned Development Overlay; PA15-
1893, a Tentative Tract Map; and PA15-1892, a Development Plan at a duly noticed
public hearing as prescribed by law, at which time the City staff and interested persons
had an opportunity to, and did testify either in support of or opposition to this matter.
F. Following consideration of the entire record of information received at the
public hearing, the Planning Commission adopted Resolution No. 17- "A
RESOLUTION OF THE PLANNING COMMISSION OF THE CITY OF TEMECULA
RECOMMENDING THAT THE CITY COUNCIL CERTIFY THE ENVIRONMENTAL
IMPACT REPORT, ADOPT ENVIRONMENTAL FINDINGS PURSUANT TO THE
CALIFORNIA ENVIRONMENTAL QUALITY ACT, ADOPT A STATEMENT OF
OVERRIDING CONSIDERATIONS, AND ADOPT A MITIGATION MONITORING AND
REPORTING PROGRAM FOR THE CYPRESS RIDGE PROJECT, CONSISTING OF
APPROXIMATELY 22.73 ACRES GENERALLY LOCATED ON THE NORTHEAST
CORNER OF PECHANGA PARKWAY AND LOMA LINDA ROAD (APNS: 961-450-
003, 961-450-012, 961-450-013)."
G. Following consideration of the entire record of information received at the
public hearings and due consideration of the proposed Project, the Planning
Commission adopted Resolution No. 17- A RESOLUTION OF THE PLANNING
COMMISSION OF THE CITY OF TEMECULA RECOMMENDING THAT THE CITY
COUNCIL ADOPT AN ORDINANCE ENTITLED "AN ORDINANCE OF THE CITY
COUNCIL OF THE CITY OF TEMECULA AMENDING TITLE 17 OF THE TEMECULA
ZONING CODE TO ADD A NEW ARTICLE XVI (CYPRESS RIDGE PLANNED
DEVELOPMENT OVERLAY DISTRICT 15) TO CHAPTER 17.22 (PLANNED
DEVELOPMENT OVERLAY DISTRICT) ON A 22.73 ACRE SITE GENERALLY
LOCATED ON THE NORTHEAST CORNER OF PECHANGA PARKWAY AND LOMA
LINDA ROAD (APNS: 961-450-003, 961-450-012, 961-450-013) AND AMENDING THE
TEMECULA ZONING MAP (PA15-1895).".
H. On July 11, 2017, the City Council of the City of Temecula considered the
Project and the EIR, Mitigation Monitoring and Reporting Program, and Statement of
Overriding Considerations, at a duly noticed public hearing at which time all interested
persons had an opportunity to and did testify either in support or in opposition to this
matter. The City Council considered all the testimony and any comments received
regarding the Project and the EIR, Mitigation Monitoring and Reporting Program, and
Statement of Overriding Considerations prior to and at the public hearing.
I. Following the public hearing, the Council adopted Resolution No. 17- -
"A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF TEMECULA
CERTIFYING THE FINAL ENVIRONMENTAL IMPACT REPORT, ADOPTING
FINDINGS PURSUANT TO THE CALIFORNIA ENVIRONMENTAL QUALITY ACT,
ADOPTING A STATEMENT OF OVERRIDING CONSIDERATIONS, AND ADOPTING
A MITIGATION MONITORING AND REPORTING PROGRAM FOR THE Cypress
Ridge PROJECT, CONSISTING OF APPROXIMATELY 22.73 ACRES, GENERALLY
LOCATED ON THE NORTHEAST CORNER OF PECHANGA PARKWAY AND LOMA
LINDA ROAD (APNS: 961-450-003, 961-450-012, 961-450-013)." Resolution No. 17-
and the findings therein are hereby incorporated by this reference as set forth in
full.
I. All legal preconditions to the adoption of this Resolution have occurred.
Section 2. Provisions for Fiscal Impact Payments
A. The City and owner estimate that the increased costs to the City of
providing public safety and other municipal services to the area resulting from the
General Plan Amendment and change of zone for the Project will substantially exceed
the municipal revenue from the Project ("City Services Deficit"). The City has received a
Fiscal Impact Analysis, dated as of July, 2017 ("FIA"), documenting the City Services
Deficit. The owners of the property within the Project, and their successors in interest,
shall pay the City the sum of four hundred twenty dollars ($420.00) per residential
dwelling unit within the Project each year as mitigation for the City Services Deficit.
Owner and its successors to the property within the Project may fulfill this obligation
through a community facilities district established by the City pursuant to the Mello-Roos
Community Facilities District Act of 1982, Government Code Section 53311, et seq., or
other appropriated financing mechanism approved by the City; provided, however, the
obligation of each owner and their successors to pay the City Services Deficit payment
under this obligation remains an obligation of the owner and its successors regardless
of the financing mechanism used to pay it and regardless of whether there is a financing
mechanism to pay it.
Section 3. Legislative Findings. The City Council in approving the Planned
Development Overlay/Zone Change hereby makes the following findings:
A. The proposed Ordinance is in conformance with the General Plan for
Temecula and with all applicable requirements of State law and other Ordinances of the
City..
The proposed Zone Change/Planned Development Overlay Ordinance conforms
to the City of Temecula General Plan Land Use Element. Furthermore, the proposed
Zone Change/Planned Development Overlay Ordinance directly responds to Goal 5
Policy 5.1 of the General Plan Land Use Element.
The project is consistent with the above General Plan Land Use Element goal
and policy in that it provides for a residential project in a predominately residential
corridor of the City. Furthermore, the Project has been designed to minimize impacts on
surrounding land uses and infrastructure through required design guidelines, building
orientation, circulation and access improvements, and other features and requirements
of proposed Planned Development Overlay 15. Additionally, mitigation measures are
identified in the EIR to further reduce the potential for impacts to surrounding uses and
infrastructure.
B. The proposed Ordinance is consistent with the Municipal Code and
Development Code for the City of Temecula;
The proposed Zone Change/Planned Development Overlay Ordinance is
consistent with the existing General Plan land use designation for the project site.
Planned Development Overlay 14 will establish the design and development framework
for the project. As proposed and conditioned, the project design will be consistent with
the General Plan and all applicable requirements of State Law and other Ordinances of
the City.
Section 4. Zoning Code Amendment. The City Council hereby amends
Chapter 17.22 (PLANNED DEVELOPMENT OVERLAY ZONING DISTRICT (PDO-)) of
Title 17 (Zoning) of the Temecula Municipal Code by adding a new Article XVI, entitled
"Cypress Ridge Planned Development Overlay District 15" to read as provided in Exhibit
A, attached to this Ordinance and incorporated herein as thought set forth in full.
Section 5. Zoning Map Amendment. The City Council hereby amends the
Official Zoning Map of the City of Temecula to change the zoning classification for the
property located on 22.73 acres generally located at the northwest corner of Temecula
Parkway and La Paz Road (APNs 961-450-003, 961-450-012, 961-450-013) from
Professional Office to Planned Development Overlay (Cypress Ridge Planned
Development Overlay-15). The amended Zoning Map is attached as Exhibit "B" to this
Ordinance and is incorporated herein by this reference as though set forth in full.
Section 6. Consistency with General Plan. On , the City
Council adopted Resolution No. , which amended the Land Use Element Map of
the Temecula General Plan to change the zoning designation of the Oroject area from
Professional Office (PO) to Medium Density (M) residential. Therefore, the foregoing
amendments outlined in this Ordinance are consistent with the goals and policies of the
General Plan for the City of Temecula.
Section 7. Severability. If any portion, provision, section, paragraph,
sentence, or word of this Ordinance is rendered or declared to be invalid by any final
court action in a court of competent jurisdiction, or by reason of any preemptive
legislation, the remaining portions, provisions, sections, paragraphs, sentences, and
words of this Ordinance shall remain in full force and effect and shall be interpreted by
the court so as to give effect to such remaining portions of the Ordinance.
Section 8. Effective Date. This Ordinance shall take effect thirty (30) days
after its adoption.
Section 9. Notice of Adoption. The City Clerk shall certify to the adoption of
this Ordinance and cause it to be published in the manner required by law.
PASSED, APPROVED, AND ADOPTED by the City Council of the City of
Temecula this day of
Maryann Edwards, Mayor
ATTEST:
Randi Johl, City Clerk
[SEAL]
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss
CITY OF TEMECULA )
I, Randi Johl, City Clerk of the City of Temecula, do hereby certify that the
foregoing Ordinance No. - was duly introduced and placed upon its first reading at a
meeting of the City Council of the City of Temecula on the day of , , and
that thereafter, said Ordinance was duly adopted by the City Council of the City of
Temecula at a meeting thereof held on the day of , by the following vote:
AYES: COUNCIL MEMBERS:
NOES: COUNCIL MEMBERS:
ABSTAIN: COUNCIL MEMBERS:
ABSENT: COUNCIL MEMBERS:
Randi Johl, City Clerk
EXHIBIT A
CYPRESS RIDGE PLANNED DEVELOPMENT OVERLAY 15 (PDO-15)
Article XVI. Cypress Ridge Planned Development Overlay District-15
17.22.286 Title.
Sections 17.22.286 through 17.22.300 shall be known as"PDO-15"(Cypress Ridge Planned Development
Overlay District).(Ord.xxxxxxx)
17.22.288 Purpose.
The Cypress Ridge planned development overlay district(PDO-15)is intended to provide regulations for a
creative mixture of uses where a specific plan or village center overlay is not appropriate. The planned
development overlay is intended to provide a mechanism to allow for flexibility in the development
regulations and design standards to allow variations of land uses which are typically outside of conventional
zoning standards. Through this flexibility of certain standards many of the objectives of the general plan
can best be achieved. It is the intent of the city to create special regulations that will combine clustered
detached and attached single-family residential homes with open space to serve as a transitional medium
density residential development between existing medium density single-family residential areas to the
north and single family residential properties to the west. The current zoning on the site is Professional
Office(PO).
17.22.290 Fiscal Impact Analysis(FIA)
Any development within Planned Development Overlay 15 will be required to address impacts to the City's
budget as a result of the increased costs to the City of providing public safety and other municipal services
to the Project area substantially exceeding the municipal revenue generated from the Project("City Services
Deficit"). The City has received a Fiscal Impact Analysis,dated as of July,2017("FIA"),documenting the
City Services Deficit. The owners of the property within the Project, and their successors in interest, shall
pay the City the sum of four hundred twenty dollars($420)per residential dwelling unit within the Project
each year as mitigation for the City Services Deficit. Owner and its successors to the property within the
Project may fulfill this obligation through a community facilities district established by the City pursuant
to the Mello-Roos Community Facilities District Act of 1982,Government Code Section 53311,et seq.,or
other appropriated financing mechanism approved by the City; provided, however, the obligation of each
owner and their successors to pay the City Services Deficit payment under this obligation remains an
obligation of the owner and its successors regardless of the financing mechanism used to pay it and
regardless of whether there is a financing mechanism to pay it.
17.22.292 Relationship with the development code and citywide design guidelines.
A. The permitted uses for the Cypress Ridge planned development overlay are described in Section
17.22.292.
B. Medium (M) Density residential uses permitted in Table 17.06.030 of the Development Code
will be allowed throughout the Cypress Ridge development.
C. Except as modified by the provisions of Section 17.22.294, the following rules and regulations
shall apply to all planning applications in the area.
1. The citywide design guidelines that are in effect at the time an application is deemed
complete.
2. The approval requirements contained in the development code that are in effect at the time
the application is deemed complete.
3. Any other relevant rule, regulation or standard that is in effect at the time an application is
deemed complete.
17.22.294 Use regulations.
The Cypress Ridge planned development overlay district (PDO-15), located within Pechanga Parkway,
Loma Linda Avenue and Temecula Lane, is intended to provide for the development of two hundred forty-
five single-family detached and attached homes within fee simple condominium unit boundaries, on 22.7
gross acres / 20.18 net acres, with a proposed average density of 12.14 dwelling units per net acre. The
proposed project is comprised entirely of private residential land uses designed to enhance housing
opportunities, consider natural features, incorporate private and common open space, private recreation,
and develop a common community theme. The project will provide housing opportunities consistent with
the city's general plan policies in response to local market demands and will provide for a visually pleasing
environment through adaptation of supplemental performance standards that have been provided to ensure
transitional compatibility with adjacent neighborhoods.
17.22.296 Development standards.
The residential component shall comply with the development standards set forth in Table 17.22.294. The
maximum residential density shall be 12.14 units per net acre.
Table 17.22.294
Residential Development Standards
Cypress Ridge Planned Development Overlay District PDO-15
Residential Development Standards Detached Attached Duplex/
Cluster Cluster Triplex
Unit Boundary Area
Minimum Unit area 1,945 sq. ft. 1,575 sq. ft. 1,370 sq. ft.
Maximum number of dwelling units per gross acre 11.4 19.2 16.1
Unit Dimensions
Minimum average width 126 ft. 92 ft. 42 ft.
Minimum average depth 128 ft. 119 ft. 50 ft.
Building Setbacks
Minimum front yard ' 5.0 ft. 5.0 ft. 6.0 ft.
Minimum corner side yard 5.0 ft. 5.0 ft. 7.5 ft.
Minimum interior side yard 5.0 ft. 8.0 ft. 7.5 ft.
Minimum rear yard 5.0 ft. 8.0 ft. Alley
Minimum building separation 10 ft. 2 16 ft. 15 ft.
Other Requirements
Maximum building height 27 ft. 36.5 ft. 29.5 ft.
Notes:
1. Measured to private street parkway or sidewalk..
2. First floors and portion between the Unit-A and Unit-B Plan second floors.
17.22.298 Project setting.
A. Setting and Location. The Cypress Ridge project is comprised of 22.73 gross acres within
Pechanga Parkway, Loma Linda Avenue and Temecula Lane, which are all fully developed public
right-of-way streets with the exception of Temecula Lane which shall be realigned at the north
property boundary during the development of Cypress Ridge. Additionally a storm drain easement
will be dedicated for the City's existing underground facilities at the intersection of Pechanga Parkway
and Loma Linda Avenue in exchange for the inclusion of parcel 961-450-003 within the Cypress
Ridge development for onsite storm water treatment and retention..
B. Existing Site Conditions. The property consists of undeveloped land. Topographical relief
ranges from a high elevation of one thousand thirty one in the eastern portion of the property,to a low
elevation of one thousand fifteen near the north portion of the property. An existing watercourse
traverses the property, flowing from east to west into an existing open drainage channel.
C. Surrounding Land Uses and Development. Single-family homes exist to the west and south
of the project, with a master planned multi-family development to the east and existing Pala Park to
the northeast.
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17.22.300 Supplemental design standards.
The development shall be consistent with the following exhibits:
Exhibit 17.22.300.A—Landscape Site Plan
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The rooms of the Unit A and Unit B Plans where this occur is the recreation room, stair and volume ceiling
over the first level of the Unit-A and the recreation room of the Unit-B. There are no opposing windows
across from these Plans in this area. It should also be noted that all of the Detached Cluster homes feature
downstairs bedrooms with full baths to accommodate a multitude of lifestyle stages.
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Unit B Second Floor Unit A Second Floor
Exhibit 17.22.300.0—Private Street Parallel Parking and Traffic Calming Features
Cypress Ridge private streets are based on City Standard No. 104 where a 40'curb to curb width is provided
for one 12' wide travel lane in each direction and room for parallel parking on both sides.This is similar to
other residential projects in Temecula such as nearby `Classic Way'. Private street pavement width is
reduced to 32' where parallel parking is provided on one side and both 12' wide travel lanes are preserved.
As Cypress Ridge will be a gated community, traffic calming features have been included such as curb
returns which narrow at driveways and intersections and define the parallel parking spaces, reducing the
pavement width to 24' in order to delineate the travel lanes and separate the parking spaces to aid in
enforcing the proposed 15 m.p.h. speed limit.This design is also partially modeled after Section 16.51.060.
A., where the Land Use is described as `Attached homes/small lot detached homes' where the travel lanes
in each direction are listed at `2 at 10' including parallel parking listed at `8' on both sides'. Although 12'
wide travel lanes are being provided at Cypress Ridge per Fire Department requirements and to ease traffic
circulation throughout. Below is an example of one of these circulation streets where parking is shown on
both sides with curb returns to define the parking spaces along with providing a defined space for
Refuse/Recycle Bins.
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Concrete step outs per the City's ordinance (12" separate walk adjacent to 6" curb) would be poured
separately which can be problematic when one portion settles or raises causing an uneven surface.Cypress
Ridge uses a design the Consultant Team has used successfully in Temecula where the curb is installed as
a monolithic 12" width to provide sufficient step-out space without the issues of a two-pour section (see
attached detail). This design provides durability for the curb and step-out surface while reducing overall
impervious surfaces to meet water quality requirements.
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1
EXHIBIT A
FISCAL IMPACT ANALYSIS
CYPRESS RIDGE FISCAL IMPACT ANALYSIS
TEMECULA,CALIFORNIA
Prepared for:
CITY OF TEMECULA
Prepared by:
KEYSER MARSTON ASSOCIATES, INC.
JULY 2017
CYPRESS RIDGE FISCAL IMPACT ANALYSIS
TEMECULA, CALIFORNIA
Prepared for:
CITY OF TEMECULA
Prepared by:
KEYSER MARSTON ASSOCIATES, INC.
555 West Beech St., Suite 460
San Diego, California 92101
500 South Grand Avenue, Suite 1480
Los Angeles, California 90071
Golden Gateway Commons
160 Pacific Avenue, Suite 204
San Francisco, California 94111
JULY 2017
TABLE OF CONTENTS
I. Introduction......................................................................................................................................... 1
II. Key Findings.........................................................................................................................................2
III. Fiscal Impact—20-Year Projection......................................................................................................3
IV. Fiscal Impact at Build-Out .................................................................................................................10
V. Limiting Conditions............................................................................................................................14
APPENDIX A: DEMOGRAPHIC PROFILE AND CITY GENERAL FUND BUDGET...........................................16
APPENDIX B: FISCAL IMPACT-20-YEAR PROJECTION............................................................................20
APPENDIX C: FISCAL IMPACT AT BUILD-OUT..........................................................................................42
0111
KI Y',F t MARS fON ASSoCIAH S
I. INTRODUCTION
A. Objective
In accordance with Keyser Marston Associates, Inc.'s (KMA's)June 27, 2016 contract with the City of
Temecula (City), KMA has undertaken a Fiscal Impact Analysis (FIA)for the Cypress Ridge Development
Plan (Project). As background, Ridge Crest Real Estate (Developer) has proposed a Development Plan
(Plan)for a 22.73-acre property at the northeast corner of Pechanga Parkway and Loma Linda Road
(Property). The Developer has applied for a General Plan Amendment to change the Property's land use
designation from Professional Office (PO)to Medium Density Residential (M); and a zone change from
PO to Planned Development Overlay(PDO). The proposed Plan will include up to 245 housing units,
consisting of 79 detached cluster units, 63 attached cluster units, and 103 duplex/triplex units. The
Project will also feature four tot lots,three picnic areas, a dog park, and a 1,800 square foot (SF)
clubhouse with a spa and pool.
The FIA prepared by KMA evaluated the recurring General Fund revenues and expenditures generated
by the proposed Project over a 20-year time period, beginning upon the sale of the Project's first
residential unit in Fiscal Year(FY) 2018 and ending in FY 2037.
B. Methodology
In completing this assignment, KMA undertook the following principal work tasks:
• Reviewed background materials and resource documents relevant to the Project.
• Reviewed the City's FY 2016-2017 Mid-Year Adjusted General Fund Budget to understand the City's
current fiscal condition and revenue/expenditure parameters.
• Collected and reviewed demographic and economic trends for the Temecula area.
• Reviewed residential market data provided by the Developer.
• Estimated recurring annual revenues and municipal service expenditures as a result of completion of
the Project.
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C. Report Organization
Following this introduction, this FIA is organized as follows:
• Section II presents a summary of the KMA key findings.
• Section III provides an estimate of fiscal impact of the Project on the City's General Fund over a 20-
year time period.
• Section IV provides an estimate of fiscal impact of the Project at build-out.
• Section V presents limiting conditions pertaining to this report.
II. KEY FINDINGS
A. 20-Year Fiscal Impact Projection
• The Project is projected to yield a negative net fiscal impact to the City's General Fund, inclusive of
Project-generated revenues from Measure S, each year over the projected 20-year time period.
• The major revenue categories generated by the Project during this 20-year time period include sales
tax and Measure S revenue generated by residents, property tax, property tax in lieu of vehicle
license fees (VLF), property transfer tax, and franchise fees.
• The major expenditure categories generated by the Project during this 20-year time period include
Police, Asset Management Fund, Fire, Public Works, and Recreation Funding.
• The Project's fiscal impact is estimated at negative$118,000 at build-out in Year 3 (FY 2020 dollars)
and is projected to reach negative$300,000 by Year 20 (FY 2037 dollars).
B. Fiscal Impact at Build-out(FY 2017 Dollars)
• On a static basis, upon build-out, the Project is projected to generate annual revenues to the
General Fund estimated at about$283,000 (FY 2017 dollars), inclusive of Project-generated
revenues from Measure S. Revenues are primarily driven by sales tax generated by residents,
property taxes, and property tax in-lieu of VLF, which together account for approximately 74.2%of
total General Fund revenues generated by the completion of the Project.
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• Total annual service costs to the General Fund upon stabilization of the Project are estimated at
$386,000(FY 2017 dollars). The major expense categories are Police; Asset Management Fund;
Public Works—Land Development, Public Works, etc.; and Recreation Funding, which together
account for approximately 75.1%of total General Fund expenditures generated by the completion
of the Project.
• As shown in Table II-1 below,the Project is projected to generate a net fiscal impact to the City of
negative$103,000(FY 2017 dollars) at build-out. This finding is not surprising for a residential
development. New households require additional municipal services, and the cost to provide these
services is only partially offset by the revenue generation from the Project's new resident retail
spending, property taxes, and other major revenue sources.
Table 11-1: Recurring Annual Fiscal Impact at Build-out(FY 2017 Dollars)
Cypress Ridge
General Fund Revenues(2) $283,000
General Fund Expenditures ($386,000)
Annual Net Fiscal Impact to City ($103,000)
Revenue to Expense Ratio 0.73
Deficit per Unit per Year ($420)
(1) Figures are expressed in FY 2017 dollars.
(2) Includes Project-generated Measure 5 revenues.
Ill. FISCAL IMPACT—20-YEAR PROJECTION
A. Overview of Methodology
This section presents the KMA methodology used to estimate the fiscal impact to the City of Temecula
General Fund resulting from development of the proposed Project. The detailed KMA 20-Year fiscal
impact model is provided in Appendices A and B and summarized below.
Demographic Overview
Table III-1 below presents the findings of the KMA review of demographic factors for the City. The data
consist of population, number of households, number of housing units, and total jobs. More detail is
presented in Appendix A,Table A-1.
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Table 11111-1: Demographic Overview, City of Temecula
2017 Estimate
Population 111,024
Households 34,959
Housing Units 36,320
Jobs 50,218
Overview of the City of Temecula Budget
Table III-2 below provides an overview of the City's Mid-Year FY 2016-2017 Adjusted General Fund
Budget. A more detailed analysis can be found in Appendix A,Table A-2. As shown,the City is projected
to experience a net surplus of$363,000 in FY 2016-2017.
Table 111-2: City of Temecula, Mid-Year FY 2016-2017 Adjusted General
BudgetFund
General Fund Revenues $71,859,000
General Fund Expenditures ($71,496,0001
Net Surplus/(Deficit) $363,000
(1) Total before deduction of Program Revenues.
It is important to note that through discussions with City staff, estimated revenues from Measure S and
projected expenditures for Recreation Funding and Asset Management Fund were further modified by
KMA. These modifications are presented in Table III-3 below, with additional details presented in
Appendix A,Tables A-3 and A-4.
ModificationsTable 111-3: KMA Budget
FY 2016-2017 KMA Modifications to Mid-Year
Mid-Year Adjusted FY 2016-2017 Adjusted(1)
I. Revenues
A. Measure S $1,236,000 $14,468,000(2)
II. Expenditures
A. Recreation Funding $4,823,000 $6,200,000
B. Asset Management Fund $0 $6,000,000
(1) Per City of Temecula,Finance Department,May 2017.
(2) KMA estimate. Based on FY 2017-2018 estimates provided by the City Finance Department for Measure 5,reduced by
4.69%to reflect a full year for FY 2016-2017.
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As a result of the modifications presented above,the Mid-Year FY 2016-2017 Adjusted General Fund
Budget is projected to experience a net surplus of$6.2 million as presented in Table III-4 below.
ModificationsTable 111-4: KMA i
General Fund Budget
General Fund Revenues $85,092,000
General Fund Expenditures(1) ($78,873,000)
Net Surplus/(Deficit) $6,219,000
(1) Total before deduction of Program Revenues.
Appendix A,Tables A-3 and A-4 also show the departmental revenues and expenditures used to
calculate the per capita impacts to the General Fund from the development of the proposed Project.
The revenues shown are strictly departmental revenues and exclude such revenues as property and
sales tax, which are estimated based on projected increases in assessed value and taxable sales from
incremental development, respectively. The expenditures reflect the gross General Fund expenditures
less the associated General Fund departmental charges for services. By isolating the net expenditure,
the actual impact to the General Fund can be calculated.
B. Key Fiscal Impact Assumptions
As shown below in Table III-5, the Project will include 245 attached and detached residential units. A
more detailed description of the Project can be found in Appendix B,Table B-2.
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Table 111-5: Project Description
Detached Cluster
Plan A 2,243 SF 27 Units
Plan B 1,947 SF 24 Units
Plan C 2,364 SF 28 Units
Total Detached Cluster 2,196 SF 79 Units
Attached Cluster
Plan A 1,575 SF 16 Units
Plan B 1,864 SF 16 Units
Plan C 1,822 SF 16 Units
Plan D 1,636 SF 15 Units
Total Attached Cluster 1,726 SF 63 Units
Duplex/Triplex
Duplex A 1,498 SF 52 Units
Triplex A 1,582 SF 17 Units
Triplex B 1,374 SF 17 Units
Triplex C 1,535 SF 17 Units
Total Duplex/Triplex 1,498 SF 103 Units
Total 1,7815F 245 Units
Table 111-6 below presents the assumed annual absorption for the Project. The Developer anticipates the
first closing to occur during FY 2018 with four homes sold per month per product type, or 12 homes per
month through FY 2020. A more detailed analysis of the projected annual absorption for the Project can
be found in Appendix B,Table B-3.
Table 111-6: Anticipated Schedule of Development Absorption)
FY 2018 FY 2019 FY 2020 Total
Detached Cluster 24 48 7 79
Attached Cluster 24 39 0 63
Duplex/Triplex 24 48 31 103
Total 72 135 38 245
(1) Source: Developer,November 2,2016. Adjusted by KMA to reflect a 6-month deferment from initial projected
absorption.
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Assumptions used in the FIA are based upon an assessment of future circumstances regarding
population, employment, property valuation, and taxable sales. Table III-7 provides a summary of the
key assumptions used in this analysis, as follows:
Table 111-7: Key Assumptions
Population 2.5-3.5 persons per unit
Resident Equivalents 0.33 employees per resident
Residential Value $355,000-$443,000 per unit(FY 2017$) (1)
(1)Source: Developer,November 2,2016.
The FIA also estimates other General Fund revenues and expenditures based on a modified per capita
measure known as "resident equivalents." This approach combines residents and employees to form a
single service population. As summarized below,the resident equivalent approach weights an employee
as 0.33 residents, such that three employees are viewed as having the same impact as one resident.
Table 111-8: Total Resident Equivalents
Total
Total Total Resident
Total Population Population
Employment Equivalents (1)
+Jobs
City of Temecula 111,024 50,218 161,242 127,596
Cypress Ridge 688 0 688 688
(1) Assumes a resident equivalent factor of 0.33(three employees have approximately the same impact as one resident).
C. Key Fiscal Impact Assumptions
General Fund Revenues
This section discusses the recurring General Fund revenue assumptions utilized to estimate the impact
of the proposed Project. Annual recurring revenues for the Project, such as Property Tax and Sales and
Use Tax, were estimated based on assumed real estate market factors such as market values of the
residential uses. One-time revenues such as Development Impact Fees and building permits used to
offset one-time City costs were not evaluated in the fiscal impact model.
Franchise Fees; Licenses and Permits; and Fines and Forfeitures; and other revenues were estimated by
applying a per capita or"per resident equivalent" to the number of new residents anticipated for the
Project.
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As shown in Table III-9 below, KMA applied the following escalation factors to estimate the annual
General Fund revenues to the City over a 20-year period. The annual escalation factors were based on
KMA's review of recent historical valuation trends in the City.
Table 111-9: Annual Revenue Escalation Factors
Escalation Factor
Assessed Value(1)
Pre-Build-out 5.0%
Post-Build-out 2.0%
Sales Tax 5.0%(2)
Special Tax(Measure C) 0.0%
Other General Fund Revenues 2.5%
(1) Reflects assumed market escalation.
(2) Escalation is reduced to 2.50%after Year 8.
General Fund Expenditures
This section discusses the recurring annual General Fund expenditure assumptions utilized to estimate
the impact of the Project at build-out.
Annual recurring expenditures, including Fire, Public Works, and City Council, were estimated by
applying a per capita or"per resident equivalent" cost estimate to the number of new residents
anticipated from build-out of the Project,with the exception of Police. To estimate Police expenditures,
KMA applied the Project's pro rata share of one (1) new police officer at$300,000 per 1,000 population
added to the City.
Annual escalation factors for each major expenditure category were estimated by KMA based on five-
year financial projections for the General Fund presented in the City's Budget. As shown in Table III-10,
General Fund expenditures are anticipated to increase at escalation rates ranging between 1.0%and
3.0% per year, with the exception of expenditures associated with Police and Fire which are expected to
increase between 3.0%and 6.0% per year.
KMA also applied a marginal cost adjustment to each expenditure category to reflect that General Fund
expenditures do not typically have a 1:1 relationship between population and projected growth. As
shown in Table III-10, the marginal cost adjustments assumed by KMA ranged between 0% and 40%.
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Table 1: Annual Expenditure EscalationFactors
Escalation Marginal Cost
Impact mpact
Adjustment
Police 6.00%(l) 5.0%
Public Works—Land Development, Public Works, etc. 2.50% 10.0%
Recreation Funding 3.00% 20.0%
Fire 5.00% (2) 5.0%
Public Works—Parks & Maintenance 2.50% 10.0%
City Manager 2.50% 40.0%
Community Development 2.75% 20.0%
Finance 2.75% 30.0%
City Clerk 3.00% 30.0%
Retiree Medical Contribution 3.00% 0.0%
City Attorney 2.00% 40.0%
Animal Control 1.00% 10.0%
City Council 2.75% 40.0%
Community Support 2.00% 20.0%
PERS Replacement Benefit 3.00% 0.0%
Property Tax Administration 3.00% 30.0%
Asset Management Fund 2.00% 0.0%
(1)Reflects escalation factor for first 5 years,escalation is reduced to 4.0%beginning in Year 6.
(2)Reflects escalation factor for first 5 years,escalation is reduced to 3.0%beginning in Year 6.
D. Annual General Fund Impact
Comparison of the annual revenues and annual expenditures generated by the Project indicates that it
will yield a negative net fiscal impact to the City's General Fund each year over the 20-year period. As
shown in Table III-11,the Project's net fiscal impact is estimated at negative$118,000, or negative$482
per unit, at build-out in Year 3 (FY 2020 dollars). The Project's net fiscal impact reaches negative
$300,000, or negative$1,224 per unit, by Year 20 (FY 2037 dollars). A more detailed analysis is
presented in Appendix B, and summarized below.
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Table 111-11: Annual General Fund
Impact
General Revenues to
Fiscal Fund General Fund Recurring Per Unit Per Expenditures
Year Revenues(1) Expenditures Surplus/(Deficit) Year(2) Ratio
2018 $102,000 $122,000 ($20,000) ($278) 0.84
2019 $287,000 $366,000 ($79,000) ($382) 0.78
2020 $328,000 $446,000 ($118,000) ($482) 0.74
2021 $343,000 $467,000 ($124,000) ($506) 0.73
2022 $355,000 $488,000 ($133,000) ($543) 0.73
2023 $364,000 $504,000 ($140,000) ($571) 0.72
2024 $372,000 $521,000 ($149,000) ($608) 0.71
2025 $387,000 $539,000 ($152,000) ($620) 0.72
2026 $395,000 $557,000 ($162,000) ($661) 0.71
2027 $404,000 $576,000 ($172,000) ($702) 0.70
2028 $413,000 $595,000 ($182,000) ($743) 0.69
2029 $422,000 $615,000 ($193,000) ($788) 0.69
2030 $431,000 $636,000 ($205,000) ($837) 0.68
2031 $441,000 $658,000 ($217,000) ($886) 0.67
2032 $451,000 $680,000 ($229,000) ($935) 0.66
2033 $461,000 $703,000 ($242,000) ($988) 0.66
2034 $471,000 $727,000 ($256,000) ($1,045) 0.65
2035 $481,000 $752,000 ($271,000) ($1,106) 0.64
2036 $492,000 $778,000 ($286,000) ($1,167) 0.63
2037 $504,000 $804,000 ($300,000) ($1,224) 0.63
(1) Includes Project-generated Measure 5 revenues.
(2) Represents annual General Fund impact per unit based on anticipated annual absorption for the Project. Full build-
out of the Project does not occur until Year 2020.
IV. FISCAL IMPACT AT BUILD-OUT(FY 2017 DOLLARS)
It is estimated that the Project will generate a net fiscal impact to the City of negative $103,000 (FY 2017
dollars) at build-out. This section provides a detailed analysis of the Project's fiscal impact to the City's
General Fund. A more detailed analysis can be found in Appendix C.
A. Annual Recurring General Fund Revenues
Table IV-1 summarizes the KMA estimate of recurring General Fund revenues at build-out. As shown,
the Project at build-out is estimated to generate approximately$283,000 annually in General Fund
City of Temecula-Cypress Ridge-Fiscal Impact Analysis 10
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revenues. A more detailed analysis is provided in Appendix C,Tables C-3 through C-7.
Table IV-1: Recurring General Fund Revenues at Build-out(1)
Total %of
(FY 2017$) Total
Sales Tax- Resident Spending(2) $98,000 34.6%
Property Tax $59,000 20.8%
Property Tax in-lieu of VLF $53,000 18.7%
Franchise Fees $19,000 6.7%
Special Tax(Measure C) $18,000 6.4%
Gas Tax Fund $13,000 4.6%
Capital Improvement Program $12,000 4.2%
Property Transfer Tax $5,000 1.8%
Fines and Forfeitures $3,000 1.1%
Licenses and Permits $2,000 0.7%
Law Enforcement Fund $1,000 0.4%
Intern Fellow Fund $0 0.0%
Sales and Use Tax $0 0.0%
Miscellaneous Revenue $0 0.0%
Vehicle License Fees $0 0.0%
Total Annual Revenues $283,000 100.0%
(1) Source: Appendix C,Table C-7.
(2) Includes Project-generated Measure S revenues.
Sales Tax, inclusive of Measure S revenues,from new resident spending represents the largest
component of General Fund revenues as a result of the development of the Project. The Project's 688
new residents are expected to generate $98,000 of new sales tax revenues to the City at build-out. This
represents about 34.6%of total revenues generated by the Project.
Property Tax revenues are the second largest source of General Fund revenues to be generated by the
Project's 245 residential units. At build-out,the project is projected to generate approximately$59,000
per year in property tax revenues, comprising of 20.8%of the total General Fund revenues generated by
the Project.
Property Tax in Lieu of VLF represent the third largest component of General Fund revenues. The
increase in gross assessed value will generate approximately$53,000 in additional motor vehicle license
fee revenues to the City, representing 18.7%of the total General Fund revenues to be generated by the
Project.
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The other sources of revenue including Franchise Fees, Special Tax (Measure C), Gas Tax Fund,
Miscellaneous Revenue, and all other revenue sources are anticipated to account for 25.8%of General
Fund revenues generated by the Project. The breakout of revenues generated by the Project at build-
out is further illustrated in Exhibit IV-1 below.
Build-outExhibit IV-1: Recurring General Fund Revenues at
*Sales Tax/Measure S
■ Property Tax
Property Tax in-lieu of VLF
6.7%
Franchise Fees
,., ■Special Tax(Measure C)
18.7% � a ; :
+Gax Tax Fund
20.8% ■Other
B. Annual Recurring General Fund Expenditures
This section discusses the recurring annual General Fund expenditure assumptions utilized to estimate
the impact of the Project at build-out. A more detailed analysis can be found in Appendix C,Tables C-8
and C-9.
Annual recurring expenditures, including Fire, Public Works, and City Council, were estimated by
applying a per capita or"per resident equivalent" cost estimate to the number of new residents
anticipated from build-out of the Project,with the exception of Police. To estimate Police expenditures,
KMA applied the Project's pro rata share of one (1) new police officer at$300,000 per 1,000 population
added to the City. As a result of this method, at build-out,the Project's 688 new residents are
anticipated to add $196,000 in Police expenditures to the City's General Fund due to the need of
approximately one new police officer generated by the Project.
As shown in Table IV-2, the total annual General Fund expenditures to provide services to the new
development are estimated at$386,000 at build-out. Major expenditure categories were estimated
based on projections from current service levels. Additionally, City staff identified the need to evaluate
the cost to fund the City's Asset Management Fund, an annual reserve for periodic facilities
maintenance and repair costs for City parks and public facilities.
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Table IV-2: Recurring General Fund Expenditures at Build-out
Total %of
(FY 2017$) Total
Police(1) $196,000 50.8%
Asset Management Fund $32,000 8.3%
Public Works- Land Development, Public Works, etc. $31,000 8.0%
Recreation Funding $31,000 8.0%
Fire $26,000 6.7%
Public Works- Parks& Maintenance $20,000 5.2%
City Manager $11,000 2.8%
Community Development $11,000 2.8%
Finance $9,000 2.3%
Retiree Medical Contribution $8,000 2.1%
City Clerk $5,000 1.3%
City Attorney $2,000 0.5%
Animal Control $2,000 0.5%
City Council $1,000 0.3%
Community Support $400 0.1%
PERS Replacement Benefit $400 0.1%
Property Tax Administration 300 0.1%
Total Annual Recurring Expenditures $386,000 100%
(1) Based on the cost for staffing one Police Officer($300,000)per 1,000 population.
As shown in Table IV-2 above, the Project's pro rata cost for Police represents the largest of Project-
generated General Fund expenditures at$196,000, or 50.8%.
The City's Asset Management Fund represents the second largest expenditure at$32,000, or 8.3%of
total Project-generated expenditures.
The remaining departmental expenditures including, but not limited to, Recreation Funding, Fire, City
Council, Community Development, and other Public Works services account for a combined $158,000
(41.0%of total). The breakout of expenditures generated by the Project at build-out is further
illustrated in Exhibit IV-2 below.
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Exhibit IV-2: Recurring General Fund Expenditures at Build-out
■ Police
•Asset Management Fund
Public Works-Land
8..(0)%"', Development,etc.
Recreation Funding
8.0%
8.39
Other
V. LIMITING CONDITIONS
1. The KMA analysis is based, in part, on data provided by secondary sources such as State and local
governments, planning agencies, real estate brokers, and other third parties. While KMA believes
that these sources are reliable,we cannot guarantee their accuracy.
2. The accompanying projections and analyses are based on estimates and assumptions which were
developed using currently available economic data, Project-specific data, and other relevant
information. It is the nature of forecasting, however,that some assumptions may not materialize
and unanticipated events and circumstances may occur. Such changes are likely to be material to
the projections and conclusions herein and, if they occur, require review or revision of this
document.
3. Any estimates of revenue or cost projections are based on the best Project-specific and fiscal data
available at this time as well as experience with comparable projects. They are not intended to be
projections of actual future performance of any specific project.
4. Revenue estimates are based on the assumption that sufficient market support exists for the
proposed uses and that the Project will achieve industry standard productivity levels.
5. KMA assumes that all applicable laws and governmental regulations in place as of the date of this
document will remain unchanged throughout the projection period of our analysis. In the event
that this does not hold true, i.e., if any tax rates change, the analysis would need to be revised.
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6. Value estimates assume that any necessary entitlements or zoning changes for development can be
obtained in a reasonable time frame. It is also assumed that property titles are good and
marketable; no title search has been made, nor has KMA attempted to determine property
ownership. The value estimates are given without regard to any questions of boundaries,
encumbrances, liens or encroachments.
7. Property tax projections reflect KMA's understanding of the assessment and tax apportionment
procedures employed by the County. The County procedures are subject to change as a reflection
of policy revisions or legislative mandate. While we believe our estimates to be reasonable,taxable
values resulting from actual appraisals may vary from the amounts assumed in the projections.
8. No assurances are provided by KMA as to the certainty of the projected tax revenues shown in this
document. Actual revenues may be higher or lower than what has been projected.
attachments
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APPENDIX A
FISCAL IMPACT ANALYSIS
CYPRESS RIDGE
Demographic Profile and
City of Temecula General Fund Budget
TABLE A-1
DEMOGRAPHIC PROFILE-CITY OF TEMECULA,2017 ESTIMATES
CYPRESS RIDGE
CITY OF TEMECULA
2017 Estimate
I. Population and Households
Population(1) 111,024
Households(2) 34,959
Average Household Size(1) 3.15
Jobs(3) 50,218
II. Housing Units(1)
Single-Family 29,816
Multi-Family 6,345
Mobile Homes 159
Total 36,320
III. Occupied Units(1) 33,707
IV. Percent Vacant(1) 7.2%
(1) Source: California Department of Finance,January 1,2017.
(2) Source: The Nielsen Company,2017.
(3) Source: The Nielsen Company,2017. Reflects employment by place of work.
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TABLE A-2
SUMMARY OF CITY OF TEMECULA GENERAL FUND BUDGET-FISCAL YEAR 2016-2017
CYPRESS RIDGE
CITY OF TEMECULA
Mid-Year FY 16-17
Adjusted(i)
I. Revenues
Taxes and Franchises $52,691,000 73.3%
Intergovernmental Revenues $7,478,000 10.4%
Licenses, Permits and Service Charges $4,348,000 6.1%
Operating Transfers In $3,536,000 4.9%
Reimbursements $2,856,000 4.0%
Fines and Forfeitures $736,000 1.0%
Miscellaneous Revenue(2) $330,000 0.5%
Use of Money and Property ($116,000) -0.2%
Total Revenues $71,859,000 100.0%
II. Expenditures
Police $28,830,000 40.3%
Non Departmental(3) $12,383,000 17.3%
Public Works-Land Development, Public Works,etc. $7,333,000 10.3%
Fire $6,088,000 8.5%
Community Development $4,608,000 6.4%
Public Works-Parks&Maintenance $3,637,000 5.1%
City Manager $3,329,000 4.7%
Finance $2,332,000 3.3%
City Clerk $1,215,000 1.7%
City Attorney $736,000 1.0%
Animal Control $463,000 0.6%
City Council $453,000 0.6%
Community Support $89,000 0.1%
Total Expenditures $71,496,000 100.0%
III. Net Surplus/(Deficit) $363,000
Revenues to Expenditures Ratio 1.01
(1) Source: City of Temecula, Mid-Year FY 2016-2017 Adjusted General Fund Budget.
(2) Includes Prior Year Contractual Obligations.
(3) Includes Property Tax Administration, Recreation Funding, Retiree Medical Contribution,and PERS Replacement Benefits.
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TABLE A-3
SUMMARY OF GENERAL FUND REVENUES
CYPRESS RIDGE
CITY OF TEMECULA
Mid-Year FY 16-17 I KMA Modifications to
Adjusted Mid-Year FY 16-17 Adjusted
General General Fund
Fund Revenues Revenues
FY 2016-2017 FY 2016-2017 Comments
I. Revenues Included in Analysis
Taxes and Franchises
Property Tax $7,598,000 projected based on increase in gross AV(excludes RDA properties)
Sales and Use Tax $36,392,000 projected based on taxable sales from incremental development
Franchise Fees $3,580,000 projected based on population and employment
Special Tax(Measure C) $1.853.000 based on residential units and commercial acreage developed
Total $49,423,000 $49,423,000
Licenses and Permits
Business Licenses $300,000 projected based on population and employment
Bids and Proposals $7.000 projected based on population and employment
Total $307,000 $307,000
Fines and Forfeitures $547,000 $547,000 projected based on population and employment
Intergovernmental Revenues
Property Tax In Lieu of VLF $7,430,000 projected based on increase in gross AV(includes RDA properties)
Vehicle License Fees 549.000 projected based on population
Total $7,478,000 $7,478,000
Operating Transfers In
Gas Tax Fund $2,073,000 $2,073,000 projected based on population
Law Enforcement Fund $218,000 $218,000 projected based on population and employment
Intern Fellowship Fund $9,000 $9,000 projected based on population and employment
Measure 5 51.236.000 $14.468.000 (1) projected based on population and employment
Total $3,536,000 1 $16,768,000
Capital Improvement Program $2,167,000 $2,167,000 projected based on population and employment
Miscellaneous Revenue $42,000 S42,000 projected based on population and employment
Total Included Items $63,499,000 1 $76,732,000
II. Charges for Services
Deducted from Community Development
Planning-Various $672,000
Building and Safety-Various 51.423.000
Total $2,095,000
Deducted from Public Works-Land Development
Land Development-Various $988,000
Public Works-NPDES Permit Fee $4,000
Plan Check Permits $1,000
Inspection Fees 51.000
Total $994,000
Deducted from Public Works-Parks&Maintenance
Lease Income $51,000
Deducted from Police
Citations and Bookings $100,000
Miscellaneous $96,000
Vehicle Impound Fees $90,000
Reimbursements 5143.000
Total $428,000
Deducted from Fire
Various $952.000
Charges for Services $4,520,000 $4,520,000
III. Excluded Items
Pechanga IGA $451,000 projected based on population and employment
Taxes and Franchises
Transient Occupancy Tax $3,268,000 hotel use not planned as part of Project
Use of Money and Property
Investment Interest $0 independent of projected incremental development
Lease/Rental Income 586.000 independent of projected incremental development
Total $86,000
Reimbursements
Other S96.000 independent of projected incremental development
Total $96,000
Sponsorship $2,000 independent of projected incremental development
Change in Fair Value of Investments ($252,000) j independent of projected incremental development
Prior Year Contractual Obligations 5190.000 independent of projected incremental development
Total Excluded Items $3,840,000 $3,840,000
IV. Total Revenues $71,859,000 $85,092,000
(1)KMA estimate. Based on FY 2017-2018 estimates provided by the City Finance Department for Measure 5,deflated by 4.69%to reflect a full year for FY 2016-2017.
Source.City of Temecula,Fiscal Year 2016-17 Mid-Year Budget Adjustment.
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TABLE A-4
SUMMARY OF GENERAL FUND EXPENDITURES
CYPRESS RIDGE
CITY OF TEMECULA
KMA Modifications to Mid-Year
Mid-Year FY 16-17 Adjusted FY 16-17 Adjusted
General Net After Deduction General Fund Net After Deduction
Fund Expenditures of Program Revenues Expenditures of Program Revenues
FY 2016-2017 (Table A-31 FY 2016-2017 (Table A-31 Comments
I. Expenditures Included in Analysis
City Council $453,000 $0 i $453,000 $0
$453,000 $453,000 projected based on population and employment
Community Support $89,000 $0 $89,000 $0
$89,000 $89,000 projected based on population and employment
City Manager
City Manager $1,406,000
Economic Development $1,009,000
Human Resources $777,000
Emergency Management 8137,000
Total General Government $3,329,000 $0 $3,329,000 $0
$3,329,000 $3,329,000 projected based on population and employment
City Clerk $1,215,000 $0 $1,215,000 $0
$1,215,000 $1,215,000 projected based on population and employment
City Attorney $736,000 $0 $736,000 $0
$736,000 $736,000 projected based on population and employment
Finance
Finance $2,332,000
Animal Control 5463.000
Total Finance $2,795,000 $0 $2,795,000 $0
$2,795,000 $2,795,000 projected based on population and employment
Community Development
Planning $2,113,000
Building&Safety 52.495.000
Total Community Development $4,608,000 ($2,095,000) $4,608,000 ($2,095,000)
$2,513,000 $2,513,000 projected based on population and employment
Public Works
Land Development $1,561,000
Public Works 55.773.000
Total Public Works $7,333,000 ($994,000) $7,333,000 ($994,000)
$6,339,000 $6,339,000 projected based on population and employment
Public Works
Parks&Maintenance $3,637,000 ($51,000) $3,637,000 ($51,000)
Total Public Works $3,586,000 $3,586,000 projected based on population and employment
Fire $6,088,000 ($952,000) $6,088,000 ($952,000)
$5,136,000 $5,136,000 projected based on population and employment
Property Tax Administration $78,000 $0 $78,000 $0
$78,000 $78,000
Recreation Funding
Recreation Funding $4,273,000
Library Funding 5550.000
Total Recreation Funding $4,823,000 $6,200,000
54,823,000 $6,100,000 (11
Retiree Medical Contribution $1,554,000 $0 $1,554,000 $0
$1,554,000 $1,554,000
PERS Replacement Benefit $81,000 $0 $81,000 $0
$81,000 581.000
Total Included Items $36,819,000 $32,727,000 $38,196,000 $34,104,000
Add: Asset Management Fund $0 $6,000,000
$0 $6,000,000 (1)
Grand Total Included Items $36,819,000 $32,727,000 $44,196,000 $40,104,000
11. Excluded Items
Police 528,830,000 121
Service Level B Funding $331,000
CIP Administration $2,442,000
Classification Plan Stipend(Non-GF) $250,000
2011 Financing Lease 2001&2008 COPS 52,140,000
PHS/Medicine Sales Tax Sharing $454,000
Separation CAL Payout $730,000
Total Excluded Items $34,677,000 $34,677,000 $34,677,000 $34,677,000
III. Total General Fund Expenditures $71,496,000 $67,404,000 $78,873,000 $74,781,000
(1) KMA adjustment for Measure S-related expenditures per On,of Temecula,Finance Department,May 2017.
(2) Police expenditures included in analysis use alternative method than General Fund to reflect project pro rata share of one new aolice officer per 1,000 population_See Table B-12-
Source.City of Temecula,Fiscal Year 2016-17 MidYearBudget Adjustment.
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APPENDIX B
FISCAL IMPACT ANALYSIS
CYPRESS RIDGE
20-Year Projection
TABLE B-1
SUMMARY OF ANNUAL GENERAL FUND IMPACT GENERATED BY PROJECT
CYPRESS RIDGE
CITY OF TEMECULA
Fiscal General Fund General Fund Recurring Per Unit Revenues to
Year Revenues Expenditures Surplus (Deficit) Absorbed to Expenditures
Date Ratio
2018 $102,000 $122,000 ($20,000) ($278) 0.84
2019 $287,000 $366,000 ($79,000) ($382) 0.78
2020 $328,000 $446,000 ($118,000) ($482) 0.74
2021 $343,000 $467,000 ($124,000) ($506) 0.73
2022 $355,000 $488,000 ($133,000) ($543) 0.73
2023 $364,000 $504,000 ($140,000) ($571) 0.72
2024 $372,000 $521,000 ($149,000) ($608) 0.71
2025 $387,000 $539,000 ($152,000) ($620) 0.72
2026 $395,000 $557,000 ($162,000) ($661) 0.71
2027 $404,000 $576,000 ($172,000) ($702) 0.70
2028 $413,000 $595,000 ($182,000) ($743) 0.69
2029 $422,000 $615,000 ($193,000) ($788) 0.69
2030 $431,000 $636,000 ($205,000) ($837) 0.68
2031 $441,000 $658,000 ($217,000) ($886) 0.67
2032 $451,000 $680,000 ($229,000) ($935) 0.66
2033 $461,000 $703,000 ($242,000) ($988) 0.66
2034 $471,000 $727,000 ($256,000) ($1,045) 0.65
2035 $481,000 $752,000 ($271,000) ($1,106) 0.64
2036 $492,000 $778,000 ($286,000) ($1,167) 0.63
2037 $504,000 $804,000 ($300,000) ($1,224) 0.63
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TABLE B-2
PROJECT DESCRIPTION
CYPRESS RIDGE
CITY OF TEMECULA
I. Land Area
Gross 22.73 Acres
Net 20.18 Acres
II. Unit Mix
A. Detached Cluster
Plan A 27 Units 2,243 SF
Plan B 24 Units 1,947 SF
Plan C 28 Units 2,364 SF
Total Detached Cluster 79 Units 2,196 SF
B. Attached Cluster
Plan A 16 Units 1,575 SF
Plan B 16 Units 1,864 SF
Plan C 16 Units 1,822 SF
Plan D 15 Units 1.636 SF
Total Attached Cluster 63 Units 1,726 SF
C. Duplex/Triplex
Duplex A 52 Units 1,498 SF
Triplex A 17 Units 1,582 SF
Triplex B 17 Units 1,374 SF
Triplex C 17 Units 1,535 SF
Total Duplex/Triplex 103 Units 1,498 SF
D. Total Units 245 Units 1,781 SF
III. Number of Stories 2-3 Stories
IV. Construction Type Type V
V. Density 12.1 Units/Net Acre
VI. Parking
Covered 490 Spaces
Un-Covered 130 Spaces
Total Spaces 620 Spaces
Parking Ratio 2.5 Spaces/Unit
Source: City of Temecula
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TABLE B-3
ANNUAL RESIDENTIAL ABSORPTION(1)
CYPRESS RIDGE
CITY OF TEMECULA
Total at
Buildout FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027
I. Detached Cluster 79 Units 24 48 7 0 0 0 0 0 0 0
Cumulative 24 72 79 79 79 79 79 79 79 79
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
II. Attached Cluster 63 Units 24 39 0 0 0 0 0 0 0 0
Cumulative 24 63 63 63 63 63 63 63 63 63
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
III. Duplex/Triplex 103 Units 24 48 31 0 0 0 0 0 0 0
Cumulative 24 72 103 103 103 103 103 103 103 103
IV. Total Residential 245 Units 72 135 38 0 0 0 0 0 0 0
Cumulative 72 207 245 245 245 245 145 245 245 145
(1) Assumes first closing to occur during first quarter 2018. Four homes homes sold per month per product type,or 12 homes per month through December 2020.
Source: City of Temecula,November 2,2016.
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TABLE B-4
POPULATION ESTIMATES
CYPRESS RIDGE
CITY OF TEMECULA
Population
Total at Vacancy Factor
Build-out Factor per Unit FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027
I. Detached Cluster 79 Units 5.0% 3.50 80 239 263 263 263 263 263 263 263 263
--------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------------------------------------------
II. Attached Cluster 63 Units 5.0% 3.00 68 180 180 180 180 180 180 180 180 180
-------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------------------------------------------
III. Duplex/Triplex 103 Units 5.0% 2.50 57 171 245 245 245 245 245 245 245 245
IV. Total Residential Population 245 Units 205 590 688 688 688 688 688 688 688 688
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TABLE B-5
ANNUAL ASSESSED VALUE(i)
CYPRESS RIDGE
CITY OF TEMECULA
Price per
Unit FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027
I. Detached Cluster $443,000 $11,163,600 $34,830,432 $39,116,836 $39,899,172 $40,697,156 $41,511,099 $42,341,321 $43,188,147 $44,051,910 $44,932,949
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
II. Attached Cluster $355,000 $8,946,000 $24,389,033 $24,876,813 $25,374,349 $25,881,836 $26,399,473 $26,927,463 $27,466,012 $28,015,332 $28,575,639
-------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
III. Duplex/Triplex $359,000 $9,046,800 $28,226,016 $41,673,745 $42,507,220 $43,357,364 $44,224,512 $45,109,002 $46,011,182 $46,931,405 $47,870,034
IV. Total Assessed Value $29,156,400 $87,445,481 $105,667,394 $107,780,742 $109,936,357 $112,135,084 $114,377,785 $116,665,341 $118,998,648 $121,378,621
(1)Assessed Value inflation rate based on 5.0%per year up to Project build-out. After Project build-out assessed value inflation reduced to 2.0%.
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TABLE B-5
ANNUAL ASSESSED VALUE Ill
CYPRESS RIDGE
CITY OF TEMECULA
Price per
Unit FY 2028 FY 2029 FY 2030 FY 2031 FY 2032 FY 2033 FY 2034 FY 2035 FY 2036 FY 2037
I. Detached Cluster $443,000 $45,831,608 $46,748,240 $47,683,205 $48,636,869 $49,609,606 $50,601,798 $51,613,834 $52,646,111 $53,699,033 $54,773,014
-------------------------------------------------------- -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
II. Attached Cluster $355,000 $29,147,151 $29,730,095 $30,324,696 $30,931,190 $31,549,814 $32,180,810 $32,824,427 $33,480,915 $34,150,533 $34,833,544
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
III. Duplex/Triplex $359,000 $48,827,434 $49,803,983 $50,800,063 $51,816,064 $52,852,385 $53,909,433 $54,987,621 $56,087,374 $57,209,121 $58,353,304
IV. Total Assessed Value $123,806,193 $126,282,317 $128,807,963 $131,384,123 $134,011,805 $136,692,041 $139,425,882 $142,214,400 $145,058,688 $147,959,862
(1) Assessed Value inflation rate based on 5.0%per yearup to Project build out. After Project build-out assessed value inflation reduced to 2.0%.
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TABLE B-6
ANNUAL RECURRING REVENUES-PROPERTY TAXES
CYPRESS RIDGE
CITY OF TEMECULA
-------------------------------------------
,Property
------------------------------o-IProperty Tax Levy 1.1.E I
City Portion 5.64%1
--------------------------------------------•
FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027
I. Detached Cluster $6,925 $21,605 $24,264 $24,749 $25,244 $25,749 $26,264 $26,789 $27,325 $27,871
----------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Il. Attached Cluster $5,549 $15,128 $15,431 $15,739 $16,054 $16,375 $16,703 $17,037 $17,378 $17,725
----------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
III. Duplex/Triplex $5,612 $17,508 $25,850 $26,367 $26,894 $27,432 $27,981 $28,540 $29,111 $29,693
IV. Total Property Tax to City $18,085 $54,242 $65,544 $66,855 $68,192 $69,556 $70,947 $72,366 $73,814 $75,290
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TABLE B-6
ANNUAL RECURRING REVENUES-PROPERTY TAXES
CYPRESS RIDGE
CITY OF TEMECULA
--------------------------------------------
.Property
-------------------------------------------IProperty Tax Levy 1.1%:
City Portion 5.64%
-- ---------- ----------------
FY 2028 FY 2029 FY 2030 FY 2031 FY 2032 FY 2033 FY 2034 FY 2035 FY 2036 FY 2037
I. Detached Cluster $28,429 $28,997 $29,577 $30,169 $30,772 $31,388 $32,016 $32,656 $33,309 $33,975
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
11.
---------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
II. Attached Cluster $18,080 $18,441 $18,810 $19,186 $19,570 $19,961 $20,361 $20,768 $21,183 $21,607
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
III. Duplex/Triplex $30,287 $30,893 $31,511 $32,141 $32,784 $33,439 $34,108 $34,790 $35,486 $36,196
IV. Total Property Tax to City $76,796 $78,332 $79,898 $81,496 $83,126 $84,789 $86,484 $88,214 $89,978 $91,778
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Filename: is/Cypress Ridge-FIA-v4-07-25-17;7/25/2017;mdt Page 27
TABLE B-7
ANNUAL RECURRING REVENUES-PROPERTY TAX IN-LIEU OF VLF
CYPRESS RIDGE
CITY OF TEMECULA
---------------------------------------------------
`License Fee Ill $0.5636
?(per$1,000 in AV Growth)
FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027
1. Detached Cluster $6,292 $19,632 $22,048 $22,488 $22,938 $23,397 $23,865 $24,342 $24,829 $25,326
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
11. Attached Cluster $5,042 $13,746 $14,021 $14,302 $14,588 $14,880 $15,177 $15,481 $15,790 $16,106
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
III. Duplex/Triplex $5,099 $15,909 $23,489 $23,958 $24,438 $24,926 $25,425 $25,933 $26,452 $26,981
IV.Total Property Tax In-Lieu of VLF to City $16,434 $49,287 $59,558 $60,749 $61,964 $63,203 $64,467 $65,756 $67,072 $68,413
Ill Source: California State Controller's Office.
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Filename: is/Cypress Ridge-FIA-v4-07-25-17;7/25/2017;mdt Page 28
TABLE B-7
ANNUAL RECURRING REVENUES-PROPERTY TAX IN-LIEU OF VLF
CYPRESS RIDGE
CITY OF TEMECULA
----------------------------------------------------
;License Fee 111 $0.56361
;(per$1,000 in AV Growth)
FY 2028 FY 2029 FY 2030 FY 2031 FY 2032 FY 2033 FY 2034 FY 2035 FY 2036 FY 2037
I. Detached Cluster $25,832 $26,349 $26,876 $27,413 $27,962 $28,521 $29,091 $29,673 $30,267 $30,872
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
11. Attached Cluster $16,428 $16,757 $17,092 $17,434 $17,783 $18,138 $18,501 $18,871 $19,248 $19,633
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Ill. Duplex/Triplex $27,521 $28,071 $28,633 $29,205 $29,789 $30,385 $30,993 $31,613 $32,245 $32,890
IV.Total Property Tax In-Lieu of VLF to City $69,781 $71,177 $72,600 $74,052 $75,533 $77,044 $78,585 $80,157 $81,760 $83,395
(1)Source: California State Controller's Office.
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Filename: is/Cypress Ridge-FIA-v4-07-25-17;7/25/2017;mdt Page 29
TABLE B-8
ANNUAL RECURRING REVENUES-PROPERTY TRANSFER TAXES
CYPRESS RIDGE
CITY OF TEMECULA
------------------------------•
Transfer Tax(per$500) $0.55
City Share of Transfer Tax 50%
;Turnover Rate(Residential) 10%
;Turnover Rate(Retail) 5%ii
FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027
I. Detached Cluster $6,140 $12,894 $2,151 $2,194 $2,238 $2,283 $2,329 $2,375 $2,423 $2,471
------------------------------------------------------- -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
II. Attached Cluster $4,920 $8,395 $1,368 $1,396 $1,424 $1,452 $1,481 $1,511 $1,541 $1,572
------------------------------------------------------- -------------- ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Ill. Duplex/Triplex $4,976 $10,449 $7,086 $2,338 $2,385 $2,432 $2,481 $2,531 $2,581 $2,633
V. Total Property Transfer Tax to City $16,036 $31,738 $10,605 $5,928 $6,046 $6,167 $6,291 $6,417 $6,545 $6,676
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Filename: is/Cypress Ridge-FIA-v4-07-25-17;7/25/2017;mdt Page 30
TABLE B-8
ANNUAL RECURRING REVENUES-PROPERTY 1RANSFER TAXES
CYPRESS RIDGE
CITY OF TEMECULA
---------------------------------------------------
Transfer Tax(per$500) $0.55 1
City Share of Transfer Tax 50%1
;Turnover Rate(Residential) 10%'
1,Turnover Rate(Retail) 5%
FY 2028 FY 2029 FY 2030 FY 2031 FY 2032 FY 2033 FY 2034 FY 2035 FY 2036 FY 2037
I. Detached Cluster $2,521 $2,571 $2,623 $2,675 $2,729 $2,783 $2,839 $2,896 $2,953 $3,013
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
II. Attached Cluster $1,603 $1,635 $1,668 $1,701 $1,735 $1,770 $1,805 $1,841 $1,878 $1,916
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
III. Duplex/Triplex $2,686 $2,739 $2,794 $2,850 $2,907 $2,965 $3,024 $3,085 $3,147 $3,209
V. Total Property Transfer Tax to City $6,809 $6,946 $7,084 $7,226 $7,371 $7,518 $7,668 $7,822 $7,978 $8,138
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Filename: is/Cypress Ridge-FIA-v4-07-25-17;7/25/2017;mdt Page 31
TABLE B-9
ANNUAL RECURRING REVENUES-SALES TAX/RESIDENTIAL SPENDING(1)(2)
CYPRESS RIDGE
CITY OF TEMECULA
•-----------------------------------------------------------------------------
;Taxable Spending by Residents 33.5%
Temecula Spending Capture 80%
City Portion of Sales Tax 1.0%
;Estimate of Measure S-Effective Revenues 1.0%
----- --- - --- --------------------------
FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027
I. Detached Cluster $11,537 $35,901 $44,043 $49,630 $51,719 $53,083 $54,410 $58,094 $59,546 $61,035
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
11. Attached Cluster $9,409 $25,619 $28,644 $32,513 $34,393 $35,300 $36,182 $38,632 $39,598 $40,588
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Ill. Duplex/Triplex $9,521 $29,627 $47,388 $53,788 $57,420 $60,036 $61,991 $66,188 $67,843 $69,539
IV. Total Residential Spending $30,468 $91,148 $120,074 $135,931 $143,531 $148,418 $152,583 $162,914 $166,987 $171,162
------- --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Allocation of Measure S Revenues to General Fund (a) - ----66%--------64% ----74%---------89%---- --91% -92% -91%- --100% - 100%-- 100%
(1) Assumes an escalation factor of 5.0%. Escalation is reduced after Year 8 to 2.5%.
(2) Includes Project-generated Measure S revenues.
(3) Source: City of Temecula,May 2017.
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Filename: is/Cypress Ridge-FIA-v4-07-25-17;7/25/2017;mdt Page 32
TABLE B-9
ANNUAL RECURRING REVENUES-SALES TAX/RESIDENTIAL SPENDING(1;)(2)
CYPRESS RIDGE
CITY OF TEMECULA
-----------------------------------------------------------------------------
;Taxable Spending by Residents 33.5%
I Temecula Spending Capture 80%I
I
City Portion of Sales Tax 1.0%I
Estimate of Measure S-Effective Revenues 1.0%1.
FY 2028 FY 2029 FY 2030 FY 2031 FY 2032 FY 2033 FY 2034 FY 2035 FY 2036 FY 2037
I. Detached Cluster $62,561 $64,125 $65,728 $67,371 $69,055 $70,782 $72,551 $74,365 $76,224 $78,130
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
II. Attached Cluster $41,602 $42,642 $43,708 $44,801 $45,921 $47,069 $48,246 $49,452 $50,688 $51,956
------------------------------------------------------------------------------------- -----------------------------------------------------------------------------------------------------------------------------------------------------------
III. Duplex/Triplex $71,278 $73,060 $74,886 $76,758 $78,677 $80,644 $82,660 $84,727 $86,845 $89,921
IV. Total Residential Spending $175,441 $179,827 $184,322 $188,930 $193,654 $198,495 $203,457 $208,544 $213,757 $220,007
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
;----Allocation of Measure S Revenues to General Fund (3) 100% 100% - - 100%--------100%--------100%--------100%--------100% -----100%-- 100% - 100%
(1) Assumes an escalation factor of 5.0%. Escalation is reduced after Year 8 to 2.5%.
(2) Includes Project-generated Measure S revenues.
(3) Source: City of Temecula,May 2017.
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Filename: is/Cypress Ridge-FIA-v4-07-25-17;7/25/2017;mdt Page 33
TABLE B-10
SPECIAL TAX(MEASURE C)REVENUE
CYPRESS RIDGE
CITY OF TEMECULA
-----------------------------------------------------------------
;Special Tax(Measure C) $74.44 per EDU I
Single Family $74.44 IParcel '
FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027
I. Detached Cluster 79 units $1,787 $5,360 $5,881 $5,881 $5,881 $5,881 $5,881 $5,881 $5,881 $5,881
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
II. Attached Cluster 63 units $1,787 $4,690 $4,690 $4,690 $4,690 $4,690 $4,690 $4,690 $4,690 $4,690
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
III. Duplex/Triplex 103 units $1,787 $5,360 $7,667 $7,667 $7,667 $7,667 $7,667 $7,667 $7,667 $7,667
IV. Total Special Tax(Measure C) 245 units $5,360 $15,409 $18,238 $18,238 $18,238 $18,238 $18,238 $18,238 $18,238 $18,238
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Filename: is/Cypress Ridge-FIA-v4-07-25-17;7/25/2017;mdt Page 34
TABLE B-10
SPECIAL TAX(MEASURE C)REVENUE
CYPRESS RIDGE
CITY OF TEMECULA
-----------------------------------------------------------------
;Special Tax(Measure C) $74.44 per EDU
--- Single Family-- ------- $74.44 /Parcel '
FY 2028 FY 2029 FY 2030 FY 2031 FY 2032 FY 2033 FY 2034 FY 2035 FY 2036 FY 2037
1. Detached Cluster 79 units $5,881 $5,881 $5,881 $5,881 $5,881 $5,881 $5,881 $5,881 $5,881 $5,881
-------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------------------------------------------------
II. Attached Cluster 63 units $4,690 $4,690 $4,690 $4,690 $4,690 $4,690 $4,690 $4,690 $4,690 $4,690
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
III. Duplex/Triplex 103 units $7,667 $7,667 $7,667 $7,667 $7,667 $7,667 $7,667 $7,667 $7,667 $7,667
IV. Total Special Tax(Measure C) 245 units $18,238 $18,238 $18,238 $18,238 $18,238 $18,238 $18,238 $18,238 $18,238 $18,238
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Filename: is/Cypress Ridge-FIA-v4-07-25-17;7/25/2017;mdt Page 35
TABLE B-11
ANNUAL GENERAL FUND REVENUES
CYPRESS RIDGE
CITY OF TEMECULA
FY 2017 Budget:
Amount Per
Resident
or Resident Service
Equivalent Ill Population FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027
I. Total Residential Population 205 590 688 688 688 688 688 688 688 688
II. Total Resident Equivalents 205 590 688 688 688 688 688 688 688 688
III. Other Annual General Fund Revenues
Franchise Fees $28.06 RE $5,896 $17,392 $20,788 $21,307 $21,840 $22,386 $22,946 $23,519 $24,107 $24,710
Gas Tax Fund $18.67 P $3,923 $11,574 $13,834 $14,180 $14,534 $14,898 $15,270 $15,652 $16,043 $16,444
Capital Improvement Program $16.98 RE $3,569 $10,527 $12,583 $12,898 $13,220 $13,550 $13,889 $14,236 $14,592 $14,957
Fines and Forfeitures $4.29 RE $901 $2,657 $3,176 $3,256 $3,337 $3,420 $3,506 $3,594 $3,683 $3,776
Licenses and Permits $2.41 RE $506 $1,491 $1,783 $1,827 $1,873 $1,920 $1,968 $2,017 $2,067 $2,119
Law Enforcement Fund $1.71 RE $359 $1,059 $1,266 $1,297 $1,330 $1,363 $1,397 $1,432 $1,468 $1,505
Vehicle License Fees $0.44 P $93 $274 $327 $335 $344 $352 $361 $370 $379 $389
Miscellaneous Revenue $0.33 RE $69 $204 $244 $250 $256 $263 $269 $276 $283 $290
Intern Fellow Fund $0.07 RE 44 54456 Sa $¢1 62
IV. Total Other Revenues $15,330 $45,222 $54,052 $55,404 $56,789 $58,208 $59,664 $61,155 $62,684 $64,251
Leeend:
RE-Resident Equivalent
P-Population
Ill Assumes escalation factor of 2.5%.
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Filename: is/CypressRidge-FIA-v4-07-25-17;7/25/2017;mdt Page 36
TABLE 8-11
ANNUAL GENERAL FUND REVENUES
CYPRESS RIDGE
CITY OF TEMECULA
FY 2017 Budget:
Amount Per
Resident
or Resident Service
Equivalent Ill Population FY 2028 FY 2029 FY 2030 FY 2031 FY 2032 FY 2033 FY 2034 FY 2035 FY 2036 FY 2037
I. Total Residential Population 688 688 688 688 688 688 688 688 688 688
II. Total Resident Equivalents 688 688 688 688 688 688 688 688 688 688
III. Other Annual General Fund Revenues
Franchise Fees $28.06 RE $25,328 $25,961 $26,610 $27,275 $27,957 $28,656 $29,372 $30,107 $30,859 $31,616
Gas Tax Fund $18.67 P $16,855 $17,277 $17,708 $18,151 $18,605 $19,070 $19,547 $20,036 $20,536 $21,040
Capital Improvement Program $16.98 RE $15,331 $15,714 $16,107 $16,510 $16,923 $17,346 $17,779 $18,224 $18,679 $19,137
Fines and Forfeitures $4.29 RE $3,870 $3,967 $4,066 $4,167 $4,272 $4,378 $4,488 $4,600 $4,715 $4,831
Licenses and Permits $2.41 RE $2,172 $2,226 $2,282 $2,339 $2,397 $2,457 $2,519 $2,582 $2,646 $2,711
Law Enforcement Fund $1.71 RE $1,542 $1,581 $1,620 $1,661 $1,702 $1,745 $1,789 $1,833 $1,879 $1,925
Vehicle License Fees $0.44 P $398 $408 $419 $429 $440 $451 $462 $474 $485 $497
Miscellaneous Revenue $0.33 RE $297 $305 $312 $320 $328 $336 $345 $353 $362 $371
Intern Fellow Fund $0.07 RE $§g $§5 $§77 $a Sm 72 S74 76 578 79
IV. Total Other Revenues $65,857 $67,504 $69,191 $70,921 $72,694 $74,512 $76,374 $78,284 $80,241 $82,208
(1)Assumes escalation factor of 2.5%.
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TABLE B-12
ANNUAL GENERAL FUND EXPENDITURES
CYPRESS RIDGE
CITY OF TEMECULA
FY 2017 Budget:
Amount Per "Marginal
Resident Annual Cost'
or Resident Escalation Impact Service
Eauivalent SafB 111 Adiustment Population Ey M FY 2019 EL= EL= M2= FY 2023 FYM11 EY= FyjM FY2027
1. Total Residential Population 205 590 688 688 688 688 688 688 688 688
II. Total Resident Equivalents 205 590 688 688 688 688 688 688 688 688
III. Annual General Fund Expenditures
Police $300.00 12) 6.00% 131 5.0% P $61,931 $188,933 $233,534 $247,546 $262,399 $272,895 $283,811 $295,163 $306,970 $319,249
Recreation Funding $55.84 3.00% 20.0% P $9,433 $27,963 $33,587 $34,594 $35,632 $36,701 $37,802 $38,936 $40,104 $41,307
Asset Management Fund $54.04 2.00% 0.0% RE $11,300 $33,173 $39,457 $40,246 $41,051 $41,872 $42,709 $43,564 $44,435 $45,324
Public Works-Land Development,Public Works,etc. $49.68 2.50% 10.0% RE $9,395 $27,716 $33,127 $33,956 $34,804 $35,675 $36,566 $37,481 $38,418 $39,378
Fire $40.25 5.00% 141 5.0% RE $8,231 $24,874 $30,456 $31,978 $33,577 $34,585 $35,622 $36,691 $37,792 $38,925
Public Works-Parks&Maintenance $32.30 2.50% 10.0% P $6,108 $18,019 $21,538 $22,076 $22,628 $23,194 $23,773 $24,368 $24,977 $25,601
City Manager $26.09 2.50% 40.0% RE $3,289 $9,703 $11,598 $11,888 $12,185 $12,490 $12,802 $13,122 $13,450 $13,787
Community Development $19.69 2.75% 20.0% RE $3,319 $9,814 $11,759 $12,083 $12,415 $12,756 $13,107 $13,468 $13,838 $14,218
Finance $18.28 2.75% 30.0% RE $2,695 $7,969 $9,548 $9,811 $10,081 $10,358 $10,643 $10,935 $11,236 $11,545
Retiree Medical Contribution $12.18 3.00% 0.0% RE $2,572 $7,623 $9,156 $9,431 $9,714 $10,005 $10,305 $10,615 $10,933 $11,261
City Clerk $9.52 3.00% 30.0% RE $1,407 $4,172 $5,011 $5,161 $5,316 $5,476 $5,640 $5,809 $5,984 $6,163
City Attorney $5.77 2.00% 40.0% RE $724 $2,124 $2,527 $2,577 $2,629 $2,682 $2,735 $2,790 $2,846 $2,903
Animal Control $3.63 1.00% 10.0% RE $676 $1,966 $2,315 $2,338 $2,361 $2,385 $2,409 $2,433 $2,457 $2,482
City Council $3.55 2.75% 40.0% RE $449 $1,327 $1,590 $1,634 $1,678 $1,725 $1,772 $1,821 $1,871 $1,922
Community Support $0.70 2.00% 20-0% RE $117 $343 $407 $416 $424 $432 $441 $450 $459 $468
PERS Replacement Benefit $0.63 3.00% 0.0% RE $134 $397 $477 $492 $506 $522 $537 $553 $570 $587
Property Tax Administration $0.61 3.00% 30.0% RE $9Q X20 $322 an IRI $352 $3522 $323 au 132(1
IV. Total General Fund Expenditures $121,870 $366,386 $446,409 $466,558 $487,743 $504,103 $521,038 $538,571 $556,723 $575,516
114Cnd
RE-Resident Equlvaient
P �UpuId Yl0n
(1) Escalation factors per City of Temecula Finance Department.
(2) Reflects Project pro rata share of one new police officer($300,000)per 1,000 population.
(3) Reflects escalation factor for first 5 years;escalation is reduced to 4.0%beginning in Year 6.
(4) Reflects escalation factor for first 5 years;escalation is reduced to 3.0%beginning in Year 6.
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Filename:is/Cypress Ridge-FIA-v4-07-25-17;7/25/2017;mdt Page 38
TABLE B-12
ANNUAL GENERAL FUND EXPENDITURES
CYPRESS RIDGE
CITY OF TEMECULA
FY 2017 Budget:
Amount Per "Marginal
Resident Annual Cost"
or Resident Escalation Impact Service
Epuivalent Batfl(1) Adjustment Population FY 2028 EY2022 M== FY 2031 M2 FY 2033 FY 2034 EY.= p(-= FY 2037
I. Total Residential Population 688 688 688 688 688 688 688 688 688 688
II. Total Resident Equivalents 688 688 688 688 688 688 688 688 688 688
111. Annual General Fund Expenditures
Police $300.00 (2) 6.00% (3) S.0% P $332,019 $345,300 $359,112 $373,476 $388,415 $403,952 $420,110 $436,914 $454,391 $472,343
Recreation Funding $55.84 3.00% 20.0% P $42,546 $43,823 $45,137 $46,492 $47,886 $49,323 $50,803 $52,327 $53,896 $55,487
Asset Management Fund $54.04 2.00% 0.0% RE $46,230 $47,155 $48,098 $49,060 $50,041 $51,042 $52,063 $53,104 $54,166 $55,223
Public Works-Land Development,Public Works,etc. $49.68 2.50% 10.0% RE $40,362 $41,371 $42,406 $43,466 $44,553 $45,666 $46,808 $47,978 $49,178 $50,383
Fire $40.25 5.00% 14) 5.0% RE $40,093 $41,296 542,535 $43,811 $45,125 $46,479 $47,873 $49,310 $50,789 $52,288
Public Works-Parks&Maintenance $32.30 2.50% 10.0% P $26,241 $26,897 $27,570 $28,259 $28,966 $29,690 $30,432 $31,193 $31,973 $32,756
City Manager $26.09 2.50% 40.0% RE $14,131 $14,484 $14,847 $15,218 $15,598 $15,988 $16,388 $16,798 $17,217 $17,640
Community Development $19.69 2.75% 20.0% RE $14,609 $15,011 $15,424 $15,848 $16,284 $16,732 $17,192 $17,665 $18,151 $18,641
Finance $18.28 2.75% 30.0% RE $11,863 $12,189 512,524 $12,868 $13,222 $13,586 $13,959 $14,343 $14,738 $15,136
Retiree Medical Contribution $12.18 3.00% 0.0% RE $11,599 $11,947 $12,305 $12,674 $13,055 $13,446 $13,850 $14,265 $14,693 $15,127
City Clerk $9.52 3.00% 30.0% RE $6,348 $6,538 $6,735 $6,937 $7,145 $7,359 $7,580 $7,807 $8,041 $8,279
City Attorney $5.77 2.00% 40.0% RE $2,961 $3,020 $3,080 $3,142 $3,205 $3,269 $3,334 $3,401 $3,469 $3,537
Animal Control $3.63 1.00% 10.0% RE $2,507 $2,532 $2,557 $2,583 $2,609 $2,635 $2,661 $2,688 $2,714 $2,740
City Council $3.55 2.75% 40.0% RE $1,975 $2,029 $2,085 $2,143 $2,202 $2,262 $2,324 $2,388 $2,454 $2,520
Community Support $0.70 2.00% 20.0% RE $477 $487 $497 $507 $517 $527 $538 $548 $559 $570
PERS Replacement Benefit $0.63 3.00% 0.0% RE $605 $623 $641 $661 $680 $701 $722 $744 $766 $788
Property Tax Administration $0.61 3.00% 30.0% RE $AM $420 $432 1445 1452 $422 1412 11.01 auk 1531
IV.Total General Fund Expenditures $594,974 $615,122 $635,985 $657,588 $679,960 $703,128 $727,122 $751,973 $777,711 $803,990
(1) Escalation factors per City of Temecula Finance Department.
(2) Reflects Project pro rata share of one new police officer($300,000)per 1,000 population.
(3) Reflects escalation factor for first 5 years;escalation is reduced to 4.0%beginning in Year 6.
(4) Reflects escalation factor for first 5 years;escalation is reduced to 3.0%beginning in Year 6.
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Filename:is/Cypress Ridge-FIA-v4-07-25-17;7/25/2017;mdt Page 39
TABLE B-13
ANNUAL GENERAL FUND IMPACT
CYPRESS RIDGE
CITY OF TEMECULA
FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027
I. Annual General Fund Revenues
Sales Tax-Residential Spending(1) $30,468 $91,148 $120,074 $135,931 $143,531 $148,418 $152,583 $162,914 $166,987 $171,162
Property Tax $18,085 $54,242 $65,544 $66,855 $68,192 $69,556 $70,947 $72,366 $73,814 $75,290
Property Tax in-lieu of VLF $16,434 $49,287 $59,558 $60,749 $61,964 $63,203 $64,467 $65,756 $67,072 $68,413
Property Transfer Tax $16,036 $31,738 $10,605 $5,928 $6,046 $6,167 $6,291 $6,417 $6,545 $6,676
Franchise Fees $5,896 $17,392 $20,788 $21,307 $21,840 $22,386 $22,946 $23,519 $24,107 $24,710
Special Tax(Measure C) $5,360 $15,409 $18,238 $18,238 $18,238 $18,238 $18,238 $18,238 $18,238 $18,238
Gas Tax Fund $3,923 $11,574 $13,834 $14,180 $14,534 $14,898 $15,270 $15,652 $16,043 $16,444
Capital Improvement Program $3,569 $10,527 $12,583 $12,898 $13,220 $13,550 $13,889 $14,236 $14,592 $14,957
Fines and Forfeitures $901 $2,657 $3,176 $3,256 $3,337 $3,420 $3,506 $3,594 $3,683 $3,776
Licenses and Permits $506 $1,491 $1,783 $1,827 $1,873 $1,920 $1,968 $2,017 $2,067 $2,119
Law Enforcement Fund $359 $1,059 $1,266 $1,297 $1,330 $1,363 $1,397 $1,432 $1,468 $1,505
Miscellaneous Revenue $69 $204 $244 $250 $256 $263 $269 $276 $283 $290
Vehicle License Fees $93 $274 $327 $335 $344 $352 $361 $370 $379 $389
Intern Fellow Fund 15 S44 52 54 5,55 56 55,E 59 61 62
II. Total Revenues $102,000 $287,000 $328,000 $343,000 $355,000 $364,000 $372,000 $387,000 $395,000 $404,000
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
III.Annual General Fund Expenditures
Police $61,931 $188,933 $233,534 $247,546 $262,399 $272,895 $283,811 $295,163 $306,970 $319,249
Asset Management Fund $11,300 $33,173 $39,457 $40,246 $41,051 $41,872 $42,709 $43,564 $44,435 $45,324
Fire $8,231 $24,874 $30,456 $31,978 $33,577 $34,585 $35,622 $36,691 $37,792 538,925
Public Works-Land Development,Public Works,etc. $9,395 $27,716 $33,127 $33,956 $34,804 $35,675 $36,566 $37,481 $38,418 $39,378
Recreation Funding $9,433 $27,963 $33,587 $34,594 $35,632 $36,701 $37,802 $38,936 $40,104 $41,307
Public Works-Parks&Maintenance $6,108 $18,019 $21,538 $22,076 $22,628 $23,194 $23,773 $24,368 $24,977 $25,601
Community Development $3,319 $9,814 $11,759 $12,083 $12,415 $12,756 $13,107 $13,468 $13,838 $14,218
City Manager $3,289 $9,703 $11,598 $11,888 $12,185 $12,490 $12,802 $13,122 $13,450 $13,787
Finance $2,695 $7,969 $9,548 $9,811 $10,081 $10,358 $10,643 $10,935 $11,236 $11,545
Retiree Medical Contribution $2,572 $7,623 $9,156 $9,431 $9,714 $10,005 $10,305 $10,615 $10,933 $11,261
City Clerk $1,407 $4,172 $5,011 $5,161 $5,316 $5,476 $5,640 $5,809 $5,984 $6,163
City Attorney $724 $2,124 $2,527 $2,577 $2,629 $2,682 $2,735 $2,790 $2,846 $2,903
Animal Control $676 $1,966 $2,315 $2,338 $2,361 $2,385 $2,409 $2,433 $2,457 $2,482
City Council $449 $1,327 $1,590 $1,634 $1,678 $1,725 $1,772 $1,821 $1,871 $1,922
PERS Replacement Benefit $134 $397 $477 $492 $506 $522 $537 $553 $570 $587
Community Support $117 $343 $407 $416 $424 $432 $441 $450 $459 $468
Property Tax Administration91 2$52$ S322 S331 S341 5352 562 SL71 5384 5396
IV.Total Expenditures $122,000 $366,000 $446,000 $467,000 $488,000 $504,000 $521,000 $539,000 $557,000 $576,000
V. Annual Recurring Surplus/(Deficit) ($20,000) ($79,000) ($118,000) ($124,000) ($133,000) ($140,000) ($149,000) ($152,000) ($162,000) ($172,000)
Per Unit Per Year ($278) ($382) ($482) ($506) ($543) ($571) ($608) ($620) ($661) ($702)
Revenues to Expenditure Ratio 0.84 0.78 0.74 0.73 0.73 0.72 0.71 0.72 0.71 0.70
(1)Includes Project-generated Measure S revenues.
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TABLE B-13
ANNUAL GENERAL FUND IMPACT
CYPRESS RIDGE
CITY OF TEMECULA
FY 2028 FY 2029 FY 2030 FY 2031 FY 2032 FY 2033 FY 2034 FY 2035 FY 2036 FY 2037
I. Annual General Fund Revenues
Sales Tax-Residential Spending Ill $175,441 $179,827 $184,322 $188,930 $193,654 $198,495 $203,457 $208,544 $213,757 $220,007
Property Tax $76,796 $78,332 $79,898 $81,496 $83,126 $84,789 $86,484 $88,214 $89,978 $91,778
Property Tax in-lieu of VLF $69,781 $71,177 $72,600 $74,052 $75,533 $77,044 $78,585 $80,157 $81,760 $83,395
Property Transfer Tax $6,809 $6,946 $7,084 $7,226 $7,371 $7,518 $7,668 $7,822 $7,978 $8,138
Franchise Fees $25,328 $25,961 $26,610 $27,275 $27,957 $28,656 $29,372 $30,107 $30,859 $31,616
Special Tax(Measure C) $18,238 $18,238 $18,238 $18,238 $18,238 $18,238 $18,238 $18,238 $18,238 $18,238
Gas Tax Fund $16,855 $17,277 $17,708 $18,151 $18,605 $19,070 $19,547 $20,036 $20,536 $21,040
Capital Improvement Program $15,331 $15,714 $16,107 $16,510 $16,923 $17,346 $17,779 $18,224 $18,679 $19,137
Fines and Forfeitures $3,870 $3,967 $4,066 $4,167 $4,272 $4,378 $4,488 $4,600 $4,715 $4,831
Licenses and Permits $2,172 $2,226 $2,282 $2,339 $2,397 $2,457 $2,519 $2,582 $2,646 $2,711
Law Enforcement Fund $1,542 $1,581 $1,620 $1,661 $1,702 $1,745 $1,789 $1,833 $1,879 $1,925
Miscellaneous Revenue $297 $305 $312 $320 $328 $336 $345 $353 $362 $371
Vehicle License Fees $398 $408 $419 $429 $440 $451 $462 $474 $485 $497
Intern Fellow FundC$�4 65 $,-7 69 S201 572 74 576 78 79
II. Total Revenues $413,000 $422,000 $431,000 $441,000 $451,000 $461,000 $471,000 $481,000 $492,000 $504,000
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
III.Annual General Fund Expenditures
Police $332,019 $345,300 $359,112 $373,476 $388,415 $403,952 $420,110 $436,914 $454,391 $472,343
Asset Management Fund $46,230 $47,155 $48,098 $49,060 $50,041 $51,042 $52,063 $53,104 $54,166 $55,223
Fire $40,093 $41,296 $42,535 $43,811 $45,125 $46,479 $47,873 $49,310 $50,789 $52,288
Public Works-Land Development,Public Works,etc. $40,362 $41,371 $42,406 $43,466 $44,553 $45,666 $46,808 $47,978 $49,178 $50,383
Recreation Funding $42,546 $43,823 $45,137 $46,492 $47,886 $49,323 $50,803 $52,327 $53,896 $55,487
Public Works-Parks&Maintenance $26,241 $26,897 $27,570 $28,259 $28,966 $29,690 $30,432 $31,193 $31,973 $32,756
Community Development $14,609 $15,011 $15,424 $15,848 $16,284 $16,732 $17,192 $17,665 $18,151 $18,641
City Manager $14,131 $14,484 $14,847 $15,218 $15,598 $15,988 $16,388 $16,798 $17,217 $17,640
Finance $11,863 $12,189 $12,524 $12,868 $13,222 $13,586 $13,959 $14,343 $14,738 $15,136
Retiree Medical Contribution $11,599 $11,947 $12,305 $12,674 $13,055 $13,446 $13,850 $14,265 $14,693 $15,127
City Clerk $6,348 $6,538 $6,735 $6,937 $7,145 $7,359 $7,580 $7,807 $8,041 $8,279
City Attorney $2,961 $3,020 $3,080 $3,142 $3,205 $3,269 $3,334 $3,401 $3,469 $3,537
Animal Control $2,507 $2,532 $2,557 $2,583 $2,609 $2,635 $2,661 $2,688 $2,714 $2,740
City Council $1,975 $2,029 $2,085 $2,143 $2,202 $2,262 $2,324 $2,388 $2,454 $2,520
PERS Replacement Benefit $605 $623 $641 $661 $680 $701 $722 $744 $766 $788
Community Support $477 $487 $497 $507 $517 $527 $538 $548 $559 $570
Property Tax Administration 5408 S420 1432 5445 $4,u$ S472 S487 i5Ql S516 5,531
IV.Total Expenditures $595,000 $615,000 $636,000 $658,000 $660,000 $703,000 $727,000 $752,000 $778,000 $804,000
V. Annual Recurring Surplus/(Deficit) ($182,000) ($193,000) ($205,000) ($217,000) ($229,000) ($242,000) ($256,000) ($271,000) ($286,000) ($300,000)
Per Unit Per Year ($743) ($788) ($837) ($886) ($935) ($988) ($1,045) ($1,106) ($1,167) ($1,224)
Revenues to Expenditure Ratio 0.69 0.69 0.68 0.67 0.66 0.66 0.65 0.64 0.63 0.63
(1)Includes Project-generated Measure S revenues.
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APPENDIX C
FISCAL IMPACT ANALYSIS
CYPRESS RIDGE
At Build-Out
(FY 2017 Dollars)
TABLE C-1
ESTIMATE OF TOTAL POPULATION
CYPRESS RIDGE
CITY OF TEMECULA
Dwelling Vacancy Total Resident
I. Residential Units Factor(1) Persons/Unit (2) Population
Detached Cluster 79 Units S.0% 3.50 263
Attached Cluster 63 Units 5.0% 3.00 180
Duplex/Triplex 103 Units 5.0% 2.50 245
Total/Average 245 Units 5.0% 2.81 688
II. Total Population 688
(1) KMA assumption reflecting average vacancy rate,based on typical lender underwriting criteria for residential uses.
(2) KMA assumption based on industry standard household size by unit type.
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TABLE C-2
ESTIMATE OF ASSESSED VALUE
CYPRESS RIDGE
CITY OF TEMECULA
FY 2017
I. Residential Units Price Unit(1) Assessed Value
For-Sale
Detached Cluster 79 Units $443,205 $35,013,195
Attached Cluster 63 Units $355,106 $22,371,678
Duplex/Triplex 103 Units $359,467 $37,025,101
Total For-Sale 245 Units $385,347 $94,409,974
Add: View Premiums @ 0.0% so
Grand Total For-Sale 245 Units $385,347 $94,409,974
II. Grand Total Assessed Valuation $94,410,000
(1) Per Developer,November 2,2016.
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TABLE C-3
ESTIMATE OF ANNUAL RECURRING REVENUES-PROPERTY TAXES AND PROPERTY TRANSFER TAX
CYPRESS RIDGE
CITY OF TEMECULA
Annual Recurring Revenues
I. Property Tax
Estimated Value $94,410,000
Property Tax Levy 1.1% $1,038,510
City Portion 5.64% $59,000
Total Property Tax to City $59,000
II. Property Tax in-lieu of VLF
Estimated Value $94,410,000
License Fee(per$1,000 in AV growth) $0.5636 (1)
Total Property Tax in-lieu of VLF $53,000
III. Property Transfer Tax
Residential Property Valuation (FMV)-Residential $94,410,000
Transfer Tax(per$500) $0.55
Total Transfer Tax $103,851
City Share of Transfer Tax 50.0% $51,926
Turnover Rate(Residential) 10.0%
Net Transfer Tax-Residential $5,000
Total Property Transfer Tax $5,000
(1)Source: California State Controller's Office.
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TABLE C-4
ESTIMATE OF ANNUAL RECURRING REVENUES-SPENDING BY RESIDENTS
CYPRESS RIDGE
CITY OF TEMECULA
Detached Attached Duplex/
Cluster Cluster Triple
I. Estimate of Household Income
Average Sales Price/Average Monthly Rent $443,205 $355,106 $359,467
(Less)Down Payment 10% (S44,321) (535.511) (S35,9471
Loan Amount $398,885 $319,595 $323,520
Interest Rate 5.25% 5.25% 5.25%
Term(Years) 30 30 30
Annual Mortgage Payment/Rent $26,432 $21,178 $21,438
HOA $200/Month $2,400 $200/Month $2,400 $200/Month $2,400
Maintenance/Insurance $50/Month $600 $50/Month $600 $50/Month $600
Property Taxes/CFD Assessments 1.5% $6.648 1.5% 55.327 1.5% 55.392
Total Annual Costs $36,080 $29,504 $29,830
%of Income Spent on Housing 35% 35% 35%
Annual Income Required $103,000 $84,000 $85,000
II. Number of Households
Total Number of Residential Units 79 63 103
Occupancy Rate 95% 95% 95%
Total Number of Full-Time Equivalent Households 75 60 98
Total Household Income $7,730,150 $5,027,400 $8,317,250
III. Aggregate Household Income $21,075,000
Allocation of Household Estimated Annual
IV. Annual Spending by Households Income to Taxable Spending(1) Taxable Spending
A. General Merchandise(2) 1S.0% $3,161,000
Convenience Goods(3) 10.0% $2,108,000
Eating and Drinking 3.0% $632,000
Automotive Outlets 5.0% $1,054,000
Other Retail Stores(4) 2.5s 5105.000
B. Total Spending 33.5% $7,060,000
C. Spending Captured in City of Temecula 80.0% $5,648,000
D. City Portion of Sales Tax @ 1.0% $56,000
E. Estimate of Measure S-Effective Revenues 1.0% $56,000
Measure 5 Revenues to General Fund @ 74%(5) 542.000
F. Total Sales Tax-Resident Spending $98,000
(1)KMA assumption,based on review of spending ratios in Southern California counties.
(2)Includes Other Comparison Goods and Home Improvement.
(3)Includes food and drug stores.
(4)Includes second-hand merchandise;farm implement dealers;farm and garden supply stores;fuel and ice dealers;mobile homes;trailers and campers;and boat,motorcycle,and plane dealers.
(5)Source: City of Temecula,May 2017. Reflects Measure S revenues allocated to the General Fund at the Project's build-out year(FY 2020).
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TABLE C-5
SPECIAL TAX(MEASURE C)
CYPRESS RIDGE
CITY OF TEMECULA
Special Tax(Measure C) $74.44 per Equivalent Dwelling Unit
Total Special Tax
EDU Factor Revenue
1. Residential- Developed
Single-Family 245 Parcels $74.44 /Parcel $18,000
Multi-Family 0 Units 0.75 EDU per unit $0
Total Residential $18,000
II. Total Special Tax(Measure C) $18,000
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TABLE C-6
ESTIMATE OF ANNUAL RECURRING REVENUES-OTHER REVENUES
CYPRESS RIDGE
CITY OF TEMECULA
Total Total Total
Total Total Resident Population/ Resident
Demographic Profile: Population Employment Equivalents(2) Jobs Equivalents(3)
City of Temecula 111,024 (1) 50,218 127,596 161,242 127,596
Cypress Ridge 688 0 688 688 688
Amount Per
City Resident or New Residents/
FY 2016-2017 Service Resident Resident Total
Budget(4) Population Equivalent Equivalents Revenues
I. Franchise Fees $3,580,000 RE $28.06 688 $19,000
II. Gas Tax Fund $2,073,000 P $18.67 688 $13,000
III. Capital Improvement Program $2,167,000 RE $16.98 688 $12,000
IV. Fines and Foreitures $547,000 RE $4.29 688 $3,000
V. Licenses and Permits $307,000 RE $2.41 688 $2,000
VI. Law Enforcement Fund $218,000 RE $1.71 688 $1,000
VII. Vehicle License Fees $49,000 P $0.44 688 $0
VIII. Miscellaneous Revenue $42,000 RE $0.33 688 $0
IX. Intern Fellow Fund $9,000 RE $0.07 688 so
X. Total Other Revenues $50,000
Legend:
RE-Resident Equivalent
(1) Source: California Department of Finance,January 1,2017. P-Population
(2) Source: The Nielsen Company,2017. Reflects employment by place of work.
(3) KMA assumption. Assumes that approximately three employees have the same impact as one resident.
(4) Source: See Table A-3,KMA modifications to Mid-Year FY 16-17 Adjusted General Fund Budget-Included Items.
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TABLE C-7
SUMMARY OF ANNUAL RECURRING REVENUES AT BUILD-OUT(1)
CYPRESS RIDGE
CITY OF TEMECULA
Total Percent
General Fund
I. Sales Tax-Resident Spending(2) $98,000 34.6%
II. Property Tax $59,000 20.8%
III. Property Tax in-lieu of VLF $53,000 18.7%
IV. Franchise Fees $19,000 6.7%
V. Special Tax(Measure C) $18,000 6.4%
VI. Gax Tax Fund $13,000 4.6%
VII. Capital Improvement Program $12,000 4.2%
VIII. Property Transfer Tax $5,000 1.8%
IX. Fines and Forfeitures $3,000 1.1%
X. Licenses and Permits $2,000 0.7%
XI. Law Enforcement Fund $1,000 0.4%
XII. Intern Fellow Fund $0 0.0%
XIII. Sales and Use Tax $0 0.0%
XIV. Miscellaneous Revenue $0 0.0%
XV. Vehicle License Fees $0 0.0%
XVI. Total Annual Recurring Revenues to General Fund $283,000 100.0%
(1)Reflects stabilized annual revenue in constant 2017 dollars at build-out.
(2)Includes Project-generated Measure S revenues.
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TABLE C-8
ESTIMATE OF ANNUAL RECURRING EXPENDITURES
CYPRESS RIDGE
CITY OF TEMECULA
Total Total
Total Total Population/ Resident
Demographic Profile: Population Employment IQh Equivalents(3)
City of Temecula 111,024 (1) 50,218 (2) 161,242 127,596
Cypress Ridge 688 0 688 688
Amount Per Net New
city Resident or New Residents/ "Marginal Cost" Residents/
FY 2016-2017 Service Population Resident Resident Impact Resident Total
j3i.deet(4) Population IM Eauivalent Equivalents Adjustment Eauivalents Expenses
I. Police --- --- --- $300.00 (s) 688 5% 654 $196,000
II. Public Works-Land Development,Public Works,etc. $6,339,000 RE 127,596 $49.68 688 10% 619 $31,000
III. Recreation Funding $6,200,000 P 111,024 $55.84 688 20% 550 $31,000
IV. Asset Management Fund $6,000,000 RE 127,596 $47.02 688 0% 688 $32,000
V. Fire $5,136,000 RE 127,596 $40.25 688 5% 654 $26,000
VI. Public Works-Parks&Maintenance $3,586,000 P 111,024 $32.30 688 10% 619 $20,000
VII. City Manager $3,329,000 RE 127,596 $26.09 688 40% 413 $11,000
Vlll. Community Development $2,513,000 RE 127,596 $19.69 688 20•� 550 $11,000
IX. Finance $2,332,000 RE 127,596 $18.28 688 30"/6 482 $9,000
X. Retiree Medical Contribution $1,554,000 RE 127,596 $12.18 688 0% 688 $8,000
XI. City Clerk $1,215,000 RE 127,596 $9.52 688 30% 482 $5,000
XII. City Attorney $736,000 RE 127,596 $5.77 688 40% 413 $2,000
XIII. Animal Control $463,000 RE 127,596 $3.63 688 10% 619 $2,000
XIV. City Council $453,000 RE 127,596 $3.55 688 400/ 413 $1,000
XV. Community Support $89,000 RE 127,596 $0.70 688 20"/ 550 $400
XVI. PERS Replacement Benefit $81,000 RE 127,596 $0.63 688 0% 688 $400
XVII. Property Tax Administration $78.000 RE 127,596 $0.61 688 301Y 482
XVIII. Total Annual Expenditures $40,104,000 $386,000
LCLEO>i:
(1)Source:California Department of Finance,January 1,2017. RE-Resident Equivalent
(2)Source:The Nielsen Company,2017. P-Population
(3)KMA assumption.Assumes that three employees have the same impact as one resident.
(4)Source:See Table A-4,KMA modifications to Mid-Year FY 16-17 Adjusted General Fund Budget-Included Items.
(5)Reflects Project pro rata share of one new police officer($300,000)per 1,000 population.
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TABLE C-9
SUMMARY OF ANNUAL RECURRING EXPENDITURES(1)(2)
CYPRESS RIDGE
CITY OF TEMECULA
Total Percent
General Fund
I. Police $196,000 50.8%
II. Asset Management Fund $32,000 8.3%
III. Public Works-Land Development,Public Works,etc. $31,000 8.0%
IV. Recreation Funding $31,000 8.0%
V. Fire $26,000 6.7%
VI. Public Works-Parks&Maintenance $20,000 5.2%
VII. City Manager $11,000 2.8%
VIII. Community Development $11,000 2.8%
IX. Finance $9,000 2.3%
X. Retiree Medical Contribution $8,000 2.1%
XI. City Clerk $5,000 1.3%
XII. City Attorney $2,000 0.5%
XIII. Animal Control $2,000 0.5%
XIV. City Council $1,000 0.3%
XV. Community Support $400 0.1%
XVI. PERS Replacement Benefit $400 0.1%
XVII. Property Tax Administration 5300 0.1%
XVIII. Total Annual Recurring Expenditures $386,000 100%
(1)Reflects stabilized annual expenditures in constant 2017 dollars at build-out.
(2)Excludes capital improvement costs.
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TABLE C-10
ESTIMATE OF STABILIZED FISCAL IMPACT(1)
CYPRESS RIDGE
CITY OF TEMECULA
Cypress Ridge
City of Temecula-General Fund Totals Percent
I. Annual Recurring Revenues
Sales Tax-Resident Spending(2) $98,000 34.6%
Property Tax $59,000 20.8%
Property Tax in-lieu of VLF $53,000 18.7%
Franchise Fees $19,000 6.7%
Special Tax(Measure C) $18,000 6.4%
Gax Tax Fund $13,000 4.6%
Capital Improvement Program $12,000 4.2%
Property Transfer Tax $5,000 1.8%
Fines and Forfeitures $3,000 1.1%
Licenses and Permits $2,000 0.7%
Law Enforcement Fund $1,000 0.4%
Intern Fellow Fund $0 0.0%
Sales and Use Tax $0 0.0%
Miscellaneous Revenue $0 0.0%
Vehicle License Fees LO 010%
Total Annual Revenues $283,000 100.0%
II. Annual Recurring Expenditures
Police $196,000 50.8%
Asset Management Fund $32,000 8.3%
Public Works-Land Development,Public Works,etc. $31,000 8.0%
Recreation Funding $31,000 8.0%
Fire $26,000 6.7%
Public Works-Parks&Maintenance $20,000 5.2%
City Manager $11,000 2.8%
Community Development $11,000 2.8%
Finance $9,000 2.3%
Retiree Medical Contribution $8,000 2.1%
City Clerk $5,000 1.3%
City Attorney $2,000 0.5%
Animal Control $2,000 0.5%
City Council $1,000 0.3%
Community Support $400 0.1%
PERS Replacement Benefit $400 0.1%
Property Tax Administration $10 0.1%
Total Annual Recurring Expenditures $386,000 100.0%
III. Annual Recurring Surplus/(Deficit) ($103,000)
Per Unit Per Year ($420)
Revenues to Expenditures Ratio 0.73
(1)Reflects stabilized annual revenues and expenditures in constant 2017 dollars at build-out.
(2)Includes Project-generated Measure S revenues.
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