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Economic Development Project
<br />Draft Estimate that may not resemble actual results
<br />Reference all notations
<br />Project Cost
<br />Est. Demolition and replacement costs
<br />Est. Net Investment
<br />Real Property - see footnotes
<br />Personal Property
<br />Total Assessed Value
<br />Est. PP replaced
<br />Assessed Value net of replacement value
<br />Tax Rate
<br />Tax
<br />Grant Rate
<br />Maximum Grant Prior to Limitation or Cap
<br />Retained Tax
<br />1st year retained
<br />Retainage Limitation
<br />Limited Grant, Prior to Cap
<br />8,900,000
<br />500,000
<br />8,400,000
<br />Excludes soft costs
<br />Ex. air conditioner
<br />Real Property
<br />Personal Property
<br />3,000,000
<br />5,400,000
<br />8,400,000
<br />County
<br />City
<br />Combined
<br />Rate
<br />0.0070
<br />0.0048
<br />0.0118
<br />Percent
<br />59.322%
<br />40.678%
<br />100%
<br />Grant Cap
<br />237,288
<br />162,712
<br />400,000
<br />County
<br />City - w/ use of county's grant program but no limitation
<br />Year 1
<br />Year 2
<br />Year 3
<br />Year 4
<br />Year 5
<br />Year 6
<br />Year 1
<br />Year 2
<br />Year 3
<br />Year 4
<br />Year 5
<br />Year 6
<br />3,000,000
<br />3,000,000
<br />3,000,000
<br />3,000,000
<br />3,000,000
<br />3,000,000
<br />3,000,000
<br />3,000,000
<br />3,000,000
<br />3,000,000
<br />3,000,000
<br />3,000,000
<br />4,860,000
<br />4,374,000
<br />3,936,600
<br />3,542,940
<br />3,188,646
<br />2,869,781
<br />4,860,000
<br />4,374,000
<br />3,936,600
<br />3,542,940
<br />3,188,646
<br />2,869,781
<br />7,860,000
<br />7,374,000
<br />6,936,600
<br />6,542,940
<br />6,188,646
<br />5,869,781
<br />7,860,000
<br />7,374,000
<br />6,936,600
<br />6,542,940
<br />6,188,646
<br />5,869,781
<br />(233,000)
<br />(233,000)
<br />(233,000)
<br />(233,000)
<br />(233,000)
<br />(233,000)
<br />(233,000)
<br />(233,000)
<br />(233,000)
<br />(233,000)
<br />(233,000)
<br />(233,000)
<br />7,627,000
<br />7,141,000
<br />6,703,600
<br />6,309,940
<br />5,955,646
<br />5,636,781
<br />7,627,000
<br />7,141,000
<br />6,703,600
<br />6,309,940
<br />5,955,646
<br />5,636,781
<br />0.0070
<br />0.0070
<br />0.0070
<br />0.0070
<br />0.0070
<br />0.0070
<br />0.0048
<br />0.0048
<br />0.0048
<br />0.0048
<br />0.0048
<br />0.0048
<br />53,389
<br />49,987
<br />46,925
<br />44,170
<br />41,690
<br />39,457
<br />36,610
<br />34,277
<br />32,177
<br />30,288
<br />28,587
<br />27,057
<br />85%
<br />85%
<br />85%
<br />85%
<br />85%
<br />85%
<br />85%
<br />85%
<br />85%
<br />85%
<br />85%
<br />85%
<br />45,381
<br />42,489
<br />39,886
<br />37,544
<br />35,436
<br />33,539
<br />F 31,118
<br />29,135
<br />27,351
<br />25,745
<br />24,299
<br />22,998
<br />City Grant
<br />8,008
<br />7,498
<br />7,039
<br />6,625
<br />6,253
<br />5,919
<br />8,008
<br />8,008
<br />8,008
<br />8,008
<br />8,008
<br />(510)
<br />(970)
<br />(1,383)
<br />(1,755)
<br />(2,090)
<br />45,381
<br />41,979
<br />38,917
<br />36,161
<br />33,681
<br />31,449
<br />County Accumulated Total After Limitation 45,381 87,359 126,276 162,437 196,119 227,568
<br />Maximum Grant Cap 237,288 237,288 237,288 237,288 237,288 237,288
<br />Reduction - - - - - -
<br />County Grant 45,381 41,979 38,917 36,161 33,681 31,449
<br />Combined Totals After Caps
<br />Total Grants after Caps & Limitations 76,499 147,613 213,880 275,786 333,766 388,213
<br />Projection presumes that assessed value is not materially different than investment cost.
<br />Projection presumes immaterial change in value from 2016 reassessment or appeals and no change in tax rates
<br />Projection uses 10% depreciation per year
<br />G -1 Page 381
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