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Abatement Revenue Assumptions <br />• Maximum principal amount of bonds cannot <br />exceed estimated sum of abatements <br />• Identified properties to include in abatement: <br />— Residential properties that 'benefit' from project <br />— Combination owner -occupied and rental <br />— Not currently within Tax Increment Financing District <br />or Tax Abatement <br />Sprinn'ied <br />Abatement Bond Specifics <br />• Project costs for Fire Station Road, Sanitary and <br />Water Main Improvements are $830,980 <br />• Cash from Trunk Utility Fund will pay $355,980. <br />• Remaining $475,000 financed with Abatement <br />Bonds <br />• 10 year term <br />• Estimated interest rate of 2.15% <br />• Average annual levy of $58,000 <br />SpringsteI <br />3 <br />