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03-09-00 Planning Comm. Agenda
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03-09-00 Planning Comm. Agenda
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Gordie Howe T1F Analysis <br />with Porches <br /># of Units 14 <br />EMV Per Unit 162,000 <br />Total EMV 2,268,000 <br />Tax Capacity (Pay 2o0o Rates) <br />Less: Base Tax Capacity <br />TIF Tax Capacity <br />X District Rate (Pay 200o Rate) <br />TIF Generated <br />Supjiortabie Debt':' rs ~ s:5~io t; ~..u ' ;~: 251,33T36. <br />Purchase Price -McNamara 350,000 <br />Purchase Price - 141 LC Road 145,000 <br />Total Land Cost for 34 Units 495,000 <br />Land Cost Per Unit 14,560 <br />Equivalent Land Cost (1a,sso • zz of units) 320,320 <br />Difference To Be Recovered 174,680 <br />Less: McNamara Price Reduction 0 <br />Write-down Needed 174,680 <br />Capitalized Interest ~ s.s°i° for 3o mo 41,487 <br />Total To Be Recovered by T1F 216,167 <br />Surp[us!(Deflcit~ ' 35,171 <br />2/4/00 10:18 <br />wlo Porches <br />2185.5 150,000 <br />1987.5 1,200,000 <br />46,497 <br />4,181 <br />42,316 <br />120.00% <br />$50,779 <br />Original Proposal <br />$495,000/34 <br />Page 12 <br />
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