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Summary of Alameda Point Project Proforma

Alameda Reuse and Redevelopment Authority. Summary of Alameda Point Project Proforma. Presentation Overview. Status Overview Public Benefits Fiscal Neutrality Sources and Uses of Funds Next Steps. Status Overview. SunCal Submitted Draft Master Plan and Business Plan – 12/19/2008

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Summary of Alameda Point Project Proforma

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  1. Alameda Reuse and Redevelopment Authority Summary of Alameda Point Project Proforma ARRA Meeting March 4, 2009

  2. Presentation Overview • Status Overview • Public Benefits • Fiscal Neutrality • Sources and Uses of Funds • Next Steps ARRA Meeting March 4, 2009

  3. Status Overview • SunCal Submitted Draft Master Plan and Business Plan – 12/19/2008 • Met with Navy to Present Project Proforma and Term Sheet Proposal – 1/8/2009 • Responding to Navy Questions – Ongoing • Navy to Provide Formal Response – March 2009 ARRA Meeting March 4, 2009

  4. Public Amenities • Over 100 Acres of Parks • Regional Sports Complex • Significant Transit Improvements • Westend Branch Library • Upgrades to Fire Station 5 • New School • Fiscal Neutrality; Designated Revenues for GF Expenses • Adaptive Reuse of Existing Buildings in Historic District ARRA Meeting March 4, 2009

  5. Fiscal Neutrality • Fiscal impacts to General Fund of Alameda Point redevelopment estimated using conservative assumptions • Fiscal impacts projected to be negative in certain years (Years 1-4, 14-15, Buildout) • Annual assessment via assessment district for Alameda Point property owners based on PW expenses at buildout • Annual shortfalls net of assessment revenue before buildout paid for by project through direct payments to General Fund ARRA Meeting March 4, 2009

  6. Fiscal Neutrality (cont.) • Estimate of General Fund Revenues • Tax Revenues (Property, Property Transfer, Sales, Utility Users, Transient Occupancy, Gas) • Other Revenues (Motor-Vehicle In-Lieu, Business License, Franchise Fees, Fines) • Estimate of General Fund Expenses • Police • Fire • Public Works • Parks, Including Sports Complex • Library ARRA Meeting March 4, 2009

  7. Fiscal Neutrality (cont.) * Dollars shown in $millions. ARRA Meeting March 4, 2009

  8. Sources of Funds ARRA Meeting March 4, 2009

  9. Uses of Funds ARRA Meeting March 4, 2009

  10. ENA Next Steps • SunCal Makes Ballot Initiative Determination – April 30, 2009 • SunCal Deposits CEQA Funding – April 30, 2009 • City Commences Environmental Review Process – May 1, 2009 • SunCal/City Finalize Navy Term Sheet – July 31, 2009 • City Completes CEQA and SunCal/City Agree to DDA – July 20, 2010 ARRA Meeting March 4, 2009

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