State of the City Presented to the Cerritos Chamber of Commerce by Cerritos Mayor Mark E. Pulido City Manager Art Gallucci May 31, 2018

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1 State of the City 2018 Presented to the Cerritos Chamber of Commerce by Cerritos Mayor Mark E. Pulido City Manager Art Gallucci May 31, 2018

2 Sprouts Farmers Market

3 P.F. Chang s

4 Starbucks

5 The City welcomed several other new businesses, including Four Seasons Buffet, Wokcano and Hand & Stone Massage and Facial Spa.

6 HomeGoods to open in the Cerritos Towne Center later this year in the space that was formerly occupied by Golfsmith.

7 Sage Luxury Apartments The Sage luxury apartments complex celebrated its grand opening in April 2018.

8 Friendship Park

9 Brookhaven Park

10 Loma Park

11 Heritage Park expansion

12 A new online registration system was introduced to offer improved service.

13 A total of seven ALPR vehicles will be deployed to aid Cerritos deputies in daily crime suppression efforts.

14 Operation Night Light was launched to target burglaries

15 A new Mobile Stroke Unit was launched in January that responds to stroke-related emergency calls in Cerritos and surrounding cities.

16 This fiscal year, the City Council approved a budget of $950,000 for tree trimming, which will result in the trimming of approximately 2,590 trees.

17 The CCPA celebrated its 25 th anniversary in January with a sold out concert by Smokey Robinson.

18 Cerritos Library presented a Thinking Money traveling exhibition.

19 Cerritos Library now offers a new digital book service, cloudlibrary.

20 The Cerritos Senior Center s façade was enhanced with the completion of maintenance to the wood features.

21 Suggestions sought for First Responders Artwork Complete and submit the form found at safercerritos.com or your idea(s) to

22 ABC Unified School District was honored as a 2018 Exemplary School District by the California Department of Education.

23 The City of Cerritos congratulates Cerritos, Elliott, Gonsalves and Leal elementary schools for being honored as 2018 California Distinguished Schools.

24 Phase III of the master plan of development for Valley Christian School is underway.

25 Construction is taking place on the new Health & Wellness Complex at Cerritos College.

26 Encouraging Your Involvement We encourage you to be an ambassador for the City of Cerritos. Your comments, questions and suggestions are always welcome. For your reference my contact information follows: Personal phone (562) City Hall (562)

28 Martina McBride opens the Season on September 7

30 Cerritos Business Environment

31 Cerritos Auto Square

32 Penske Jaguar/Land Rover of Cerritos A remodel was approved and is scheduled to begin this month.

33 Cerritos Mazda A renovation is expected to be completed by Spring 2019.

34 Cerritos Acura The Cerritos Acura showroom and service building features a new contemporary design.

35 Cerritos Infiniti Construction of the new Cerritos Infiniti dealership is completed.

36 Cerritos Auto Square New & Used Units Sold, Leases 65,000 60,000 55,000 50,000 45,000 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5, ,164 54,191 51,825 52,925 53,288 52,857 52,290 47,341 48,241 45,240 37, proj. 27,208 31,747 39,390 54,098 52,190 49,293 This past weekend s sales: 1, sales figures to date (21 weeks): 23,038 60,842 61,938 59,322 60,000

37 Cerritos Auto Square Total Sales $1,200,000,000 $1,000,000,000 $800,000,000 $600,000,000 $400,000,000 $200,000,000 $ est. proj.

38 Auto Square Employment 3,000 people are employed at the Cerritos Auto Square

39 Los Cerritos Center million square feet $962 in sales per square foot in 2017 Harkins, The Cheesecake Factory, P.F. Chang s

40 Los Cerritos Center Count of Shoppers Entering the Mall in 2017 Busiest Day: Nov appx. 107,000 Second Busiest Day: Dec appx. 100,000 Total for million Average daily attendance for 2017 (Jan-Nov)..28,000 Average daily attendance for 2017 (Dec)..47,000

41 Los Cerritos Center Employment Approximately 5,000 people are employed at the Los Cerritos Center 530 management employees 850 full-time employees 2,500 part-time employees 1,100 seasonal employees

42 Los Cerritos Center NEW NYX Professional Makeup Aug Cotton On Aug Garage Aug Kay Jewelers Sept Call It Spring Oct P.F. Chang s Oct Morphe Brushes Feb REMODELS Sweet Factory May 2017 UPCOMING Chase Bank June 2018 Miniso July O-Spa (Expansion/Renovation) July American Eagle Outfitter/Aerie (Merger/Relocation) July

43 Cerritos Towne Center Los Angeles County s second highest retail purchase in March was for the Cerritos Towne Center. Utah State Retirement System purchased the center from the Gerrity Group for $97 million. (Data compiled from property records by Real Capital Analytics)

44 City of Cerritos Budget

45 Cerritos Assessed Valuation $9,237,777,725 $10,000,000,000 $9,000,000,000 $8,000,000,000 $7,000,000,000 $6,000,000,000 $5,000,000,000 $4,000,000,000 $3,000,000,000 ` $2,000,000,000 $1,000,000,000 $ City Los Cerritos Los Coyotes Population information source: US Census

46 Single-Family Houses Median Resale Prices March 2018 $800,000 $700,000 $738,000 $702,000 $678,000 $600,000 $500,000 $534,000 $512,000 $547,000 $572,000 $470,000 $400,000 $300,000 $200,000 $100,000 $0 Artesia Bellflower Buena Park Cerritos Cypress Lakewood La Palma Norwalk Source: CoreLogic 46

47 $120,000,000 Revenue v. Budgeted Expenditures All City Funds $100,000,000 $80,000,000 $60,000,000 $40,000,000 $20,000,000 $ est proj. Expenditure Revenue Projections for FY include capital improvement expenditures and revenue, and other offsets due to anticipated uses of funds. $1.8 million use of spendable reserves to invest in Capital Improvement Projects, if needed.

48 FY : Sources of New Revenue $320,000 in increased sales tax revenue $545,000 in increased Road Maintenance and Rehabilitation funds $65,000 in increased Measure M funds $1.4 million in Water Replenishment District legal settlements projected $2.6 million insurance reimbursement for damage to City property ( rd Street rehabilitation) $1.5 million in Metro and STPL street improvement grants $1 million in increased water sales $387,600 lease of Moore Street warehouse (est.) $368,000 lease of rd Street office building (est.) after completion of construction and when fully occupied

49 City Sales Tax Revenue $34.9 million projected for FY $35,000,000 $30,000,000 $25,000,000 $20,000,000 $15,000,000 $10,000,000 $5,000,000 $ est proj.

50 Retail Sales in Cerritos projection = $3,490,131,000 Average sales per day = $9,562,003 Based on projected taxable retail sales

51 Ground Rent Revenue 1997-present $8,000,000 $7,000,000 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $ est.

52 Cerritos and the State Projected No-/Low- Property Tax (revenue from State) $3,522,340 Vehicle License Fee Revenue (paid by residents to State) $5,587,400 Total State-related revenue $9,109,740 City Operating Budget (proposed) $94,163,920 Amount of City Operating Budget funded by the City $85,054,180

California Cities Sales Tax Rankings Cerritos ranks number 41 out of 539 cities in total sales tax collected Followed by Beverly Hills (42), Ventura

53 California Cities Sales Tax Rankings Cerritos ranks number 41 out of 539 cities in total sales tax collected Followed by Beverly Hills (42), Ventura (63), Santa Barbara (77), Brea (94) and Mission Viejo (104) Cerritos is estimated to receive $34.9 million in sales tax revenue in the upcoming fiscal year.

54 Top 20 Cerritos Sales Tax Producers (As of 4Q 2017 in alphabetical order) Apple Autonation Toyota Cerritos Best Buy Browning Mazda Cerritos Dodge Cerritos Ford Cerritos Nissan Golden Star Technology Home Depot Honda Lease Trust

55 Top 20 Cerritos Sales Tax Producers cont. (As of 4Q 2017 in alphabetical order) Hyundai Lease Titling Trust Kia of Cerritos Lexus of Cerritos Macy s Nordstrom Norm Reeves Honda Superstore Penske Buick GMC Penske Chevrolet of Cerritos Revolve Clothing.com Royal Plywood Company

56 The City of Cerritos ranked No. 20 out of 482 cities in a recent report on financial soundness of California cities released by a state senator. The City of Cerritos Unrestricted Net Position (UNP) per capita was calculated at $2,619. The ranking reflects the City of Cerritos strong financial position. The data used for the report was derived from the City of Cerritos Comprehensive Annual Financial Report (CAFR).

66 sworn Sheriff s deputies, 18 professional staff and four reserve deputies provide law enforcement services Seven full-time and 42 part-time Community

57 66 sworn Sheriff s deputies, 18 professional staff and four reserve deputies provide law enforcement services Seven full-time and 42 part-time Community Safety employees provide code enforcement, parking control and crossing guard services. There are 36 VOPs. Annual Community Safety budget is $17,457,360

58 Fire Stations No. 30 and 35

Cerritos Center for the Performing Arts 2017-2018 Season CCPA and Broadway

59 Cerritos Center for the Performing Arts Season CCPA and Broadway Performance Partner 3-D Theatricals TOTAL SALES: $5,451,939 TOTAL SEATS: 69,447

60 15 new businesses opened in the Cerritos Industrial Park (January through April 2018) List of Businesses Locations

61 City of Cerritos Total Jobs ,000 30,000 28,621 28,251 26,949 25,000 20,000 21,595 21,694 21,894 22,354 22,822 23,055 23,601 24,477 15,000 10,000 5, Unemployment rate in Cerritos is 3.4% Sources: Bureau of Labor Statistics and the Employment Development Department

62 Cerritos Industrial Park Sources: DAUM Commercial Real Estate Services and Loop.net Cerritos Industrial Park has 5,227,200 square feet of space Cerritos Industrial Park vacancy rate is 2% L.A. County industrial real estate vacancy rate is 2.1% Orange County industrial vacancy rate is 2.2%

63 New Developments

64 Sheraton Cerritos Hotel Extensive renovation and property improvements

65 Lincoln Station Shopping Center Renovation is expected to be completed by November 2018.

66 Chase Bank Construction continues on the new Chase Bank at Los Cerritos Center.

67 Bank of America Renovation of the existing building at Los Cerritos Center is underway.

68 Plaza 183, an all-american scratch kitchen and craft beer bar, will join Frida Mexican Cuisine at the former El Torito Restaurant site in 2018.

69 Former Coco s Restaurant The building will be renovated to accommodate Lunasia Dim Sum House.

70 Chipotle Mexican Grill New restaurant to open in the College Square Shopping Center

71 Del Amo Bridge $3.1 million promised in Cap-and-Trade $20 million needed for construction 20,000 cars per day pass over the bridge

72 Thank you from the Cerritos Mayor, City Council and staff for being here today for the State of the City presentation.

Selma California. The Place You Want to Be!

Selma California. The Place You Want to Be! Selma California The Place You Want to Be! Contact: D-B Heusser, City Manager Roseann Galvan, Administrative Analyst 559.891.2200 1.800.80.SELMA dbh@cityofselma.com roseanng@cityofselma.com www.cityofselma.com