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3.A. - Page 6 of 14 <br />Graph 3- Annual General Fund Impact of New Residential <br />ANNUAL GENERAL FUND IMPACT OF NEW RESIDENTIAL <br />NET I M PACT PER ACRE <br />$20,000 <br />$18,000 <br />$15,000 <br />$14,000 <br />$12,000 <br />$10,000 <br />$8,0oo <br />$5,000 <br />$4,000 <br />$2,000 <br />$0 <br />$17,710 <br />8 Single -Family DUs <br />Fiscal impact <br />of 1 acre of <br />Single -Family <br />development <br />$15,260 <br />60 Multifamily DUs <br />(Hypothetical comparison ignores fiscal impact of existing use) <br />General Assumptions <br />Fiscal impact <br />of 1 acre of <br />Multifamily <br />development <br />Assumptions regarding the number of housing units, resident population, and jobs and employee <br />population for Redwood City are used to determine the number of residents per single-family or multi- <br />family dwelling as well as the number of employees per 1,000 sq. ft. of non-residential land use types <br />(office, industrial/warehouse, retail), as shown in Table 1 below. These assumptions feed into the total <br />service population, which is used to determine the cost per resident and/or employee to deliver City <br />services (e.g. Police, Fire, water, etc.). The overall service population per unit is less than the employee <br />per unit for nonresidential because the service population estimate assumes that 1 employee has a 40% <br />impact of a typical resident. Typically, non-resident employees stay within the City for only part of the day <br />and therefore would only incur a 40% impact to City services (Fire, Police, Public Works, etc.) compared <br />to a resident. General assumptions for costs and revenue can be found in Attachment 1. Redwood City's <br />General Fund costs have been taken from the FY 2019-20 revised budget. The City's sources of revenues, <br />also shown in Attachment 1, include property tax, sales and use tax, transient occupancy tax, utility user <br />tax and other streams of revenue such as license fees and recreation revenue. <br />Page 6 of 8 <br />.JL . <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.ore <br />