|
,16 July 1986
<br />Page Four
<br />Tax Available for TIF
<br />Maximum Bond Size
<br />(9% Interest Rate)
<br />Low Value
<br />15 Years 20 Years 25 Years
<br />$ 12,951 $ 12,951 $ 12,951
<br />92,000 110,000 124,000
<br />Capitalized Interest 20,700
<br />(9% for 2.5 Years)
<br />$ 71,300
<br />Administration 10% of Project Cost 8,700
<br />Bond Discount 2%
<br />Bond Printing and Registration
<br />PROJECT SUPPORT
<br />1,840
<br />1,000
<br />$ 59,760
<br />24,750 27,900
<br />15 Years
<br />$ 13,430
<br />97,000
<br />21,825
<br />High Value
<br />20 Years
<br />$ 13,430
<br />116,000
<br />25 Years
<br />$ 13,430
<br />128.000
<br />26,100 28,800
<br />$ 85,250 $ 96,100 $ 75,175 $ 89,900
<br />8,700 8,700 8,700 8,700
<br />2,200 2,480 1,940 - 2,320
<br />1,000 1,000 1,000 1,000
<br />$ 73,350 $ 83,920 $ 63,535 $ 77,880
<br />$ 99,200
<br />8,700
<br />2,560
<br />1.000
<br />$ 86,940
<br />The TIF projection indicates that the proposed 6,000 square foot building may
<br />produce sufficient taxes to support the acquisition and relocation costs of land
<br />at 2714 Centerville Road only with a higher land value and a 25 year bonding
<br />period. The following projections show the TIF generation and supportable bond
<br />with an 8,000 square foot building.
<br />TAX INCREMENT GENERATION - 8,000 SQUARE FOOT OFFICE
<br />Market Values: Land
<br />Buildings
<br />Assessed Value
<br />Mil .Rate 122.022
<br />Tax Generation
<br />Minus Frozen Base
<br />Credit 5% for Debt Coverage
<br />Tax Available for TIF
<br />Low High
<br />Value Value
<br />$ 15,400
<br />360,000
<br />$375,400
<br />x.43
<br />161,422
<br />x.122022
<br />19,697
<br />-1,324
<br />18,373
<br />-918
<br />$17,455
<br />48
<br />$ 25,000
<br />360,000
<br />$385,000
<br />x.43
<br />165,550
<br />x.122022
<br />20,200
<br />-1,342
<br />18,858
<br />-943
<br />$17,915
<br />
|