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<br />%1-~/ <br /> <br />EXHIBIT 5 <br />STANFORD HOSPITAL AND CLINICS <br />PROJECTED EXPENDITURES WITH OUT OF STATE VENDORS <br />SUBJECT TO USE TAX <br />2007 DOLLARS (1) <br /> <br />Data/Assumption <br /> <br />Value <br /> <br />Total Expenditures (2) <br />Fiscal Year 2004 (existing Stanford facilities) <br />Adjusted to 2007 Dollars (3) <br />Assuming 4 Medical Buildings 2007 Dollars (4) <br /> <br />$3,650,952 <br />$3,989,494 <br />$5,319,325 <br /> <br />2007 Taxable Adjustment <br />Percentage of Expenditures on Taxable Items (5) <br />Total Taxable Expenditures <br />Redwood City Use Tax Rate (6) <br />Use Tax Accruing to the City of Redwood City <br /> <br />60.0% <br />$3,191,595 <br />1.0% <br />$31,916 <br /> <br />Notes: <br />(1) It is anticipated that Stanford Hospital and Clinics will begin to make local expenditures mid <br />year 2007, to gear up for first of the year 2008 occupancy. <br />(2) Includes expenditures made in Fiscal Year 2004 by Stanford Hospital and Clinic's departments <br />targeted for relocation to the Redwood City facility. <br />(3) Adjusted for inflation at 3.0 percent per year. <br />(4) Annual expenditures data were increased by 33.3 percent to account for the anticipated <br />increase in departmental staffing, with staffing (doctors and other staff) at the Redwood City facility <br />approximately one-third greater than the level of staff currently associated with the relocated <br />departments. <br />(5) Based on proprietary information provided by Stanford Hospital and Clinics and CBRE <br />Consulting's examination of expenditures. <br /> <br />(6) Based on 1.0 percent share of use tax accruing to the City of Redwood City. Analysis assumes <br />that Stanford Hospital and Clinics applies for a use tax permit registering Redwood City (location of <br />the delivery), which allows for a direct allocation of the use tax to the registered jurisdiction. <br /> <br />Sources: Stanford Hospital and Clinics; and CBRE Consulting. <br />Q:\projects\2004\ 1004150 Stanford Hosp. Redwood City\ Working <br />Docs\Fiscal Benefit\[Stanford Fiscal6.xlslEx1 [JBl <br /> <br />27 -Sep-05 <br /> <br />