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The range of public assistance is in part based on the financial parameters as further outlined below while <br />considering what an appropriate level of public assistance may be for a redevelopment project while balancing <br />the level of extraordinary costs and financial cash flow performance of the project and public policy guidelines. <br />Considered parameters include the following: <br />•Return on Investment: (City benefits) <br />•Purchase price and other development costs: (reasonable ranges and supported by project) <br />•Public to private investment: (public participation within 10% or less) <br />•Public assistance (TIF) and private equity: (public does not exceed private equity) <br />•Extraordinary costs: (as opposed to ‘greenfield’ or market) <br />•Financial gap: (limit on private debt and equity) <br />•Term of collection (district): (less than maximum term) <br />•Other necessary public improvements: (case by case basis to be determined) <br />Tax Increment Analysis <br />The follow assumptions were used to estimate the amount of projected tax increment revenues (maximum term <br />up to 9 years). <br />•Total project area <br />o Parcel id: 24-31-22-31-0004 (Ryan) <br />o Parcel id: 24-31-22-24-0009 (Ryan) <br />o Parcel id: 24-31-22-24-0008 (Ryan) <br />o Parcel id: 24-31-22-24-0002 (Ryan) <br />•Total estimated base value of $699,300 <br />o Original net tax capacity $13,986 <br />•Estimated total taxable value upon completion <br />o 451,000 total square feet <br />189,000 SF (Ryan) <br />147,000 SF (Ryan) <br />115,000 SF (Ryan) <br />o $31,570,000 (Approximately $70 per square foot) <br />•Incremental revenues based on new building construction value <br />•Maximum term of tax increment district <br />o Economic Development <br />o 9 total years (2025-2033) <br />•Construction commences in 2023 and completes in 2024 <br />o 60% assessed in January of 2024 for taxes payable in 2025 <br />o 100% assessed in January of 2025 for taxes payable in 2026 <br />•Tax rates, class rates and future market values remain constant <br />o Tax rates <br />City: 40.154% <br />County: 29.605% <br />School: 31.074% <br />Other: 4.273% <br />Total: 105.106% <br />o Class rates <br />1.50% commercial/industrial first $150,000 value and 2% value above $150,000 <br />o 2% annual market value inflator <br />o 10% Administrative retainage <br />Maximum is 10% <br />Tax Increment Estimates <br />Based on the assumptions outlined above, the projected tax increment revenues to be generated from the <br />project are shown in the chart on the following page: