Fiscal Benefits from Rancho La Habra
Westridge Golf Club only generates about $37,000 in annual revenues for the City of La Habra. When it is replaced with the new home community of Rancho La Habra, proposed by Lennar Homes, City revenues will increase considerably, according to a fiscal analysis prepared by municipal finance experts.
“Our analysis found Rancho La Habra will create about $1 million a year in new revenues for the City, and net the City more than an estimated $400,000 annually after project-related expenses,” said Kuda Wekwete, Vice President of David Taussig & Associates, which prepared the study. “The primary contributor will be the much higher property tax revenues the new homes will generate for the City, but there also will be new sales tax revenues generated by the proposed commercial center and the spending of the new La Habra residents living in the proposed community.”
The City can use these new General Fund revenues for police and fire services, park and infrastructure maintenance, libraries and other important City services.
Another significant source of ongoing revenues will be a Community Facilities District that will be funded entirely by Rancho La Habra residents. The Facilities District will fund a number of services that otherwise would have to be paid for by the City.
In addition to these projected ongoing annual revenues, the City will receive significant one-time revenues. In addition to paying development fees to reimburse City costs for processing the plan, Lennar will pay school fees, build new parks and trails, and renovate and donate the current Westridge Golf Club clubhouse as a new Community Center.
Rancho La Habra would be built on the site of the golf course, which is slated for closure. It would keep nearly 60 percent of the site (approximately 89 acres) as parks, open space and trails, with 420 homes and a small commercial center on the remaining approximately 62 acres. Rancho La Habra is being proposed by LennarHomes, a national homebuilder built on a foundation of a commitment to Quality, Value and Integrity.
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