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FLYING J TRAVEL PLAZA/CRYSTAL INN <br />LAKE ELMO, MINNESOTA <br />POTENTIAL TAX REVENUES TO CITY OF LAKE ELMO <br />UPDATED 10/26/94 <br />-------------------------------------------------------------------------------------------- <br />TAX TOTAL RATE TAX <br />-------------------------------------------.------------------------------------------------- <br />PROPERTY TARES: COST ASSESSED <br />LAND AND BUILDINGS 5310000 5175657 .011973 61968 <br />TOTAL CITY SHARE OF PROPERTY TAXES - MINIMUM BENEFIT OF FLYING J: <br />62968 <br />ADDITIONAL PROPERTY TAX REVENUES TO OTHER ENTITIES SERVING <br />THE RESIDENTS <br />OF LAKE ELMOt STILLWATER SCHOOL DISTRICT: <br />170925 <br />WASHINGTON COUNTY: <br />77693 <br />TOTAL PROPERTY TAX REVENUES: <br />310587 <br />OTHER TAXES AVAILABLE TO CITY OF LAKE ELMO UNDER MINNESOTA <br />LAW: <br />SALES AND USE TAXES: <br />TAXABLE RETAIL SALES <br />3384000 <br />.005 <br />16920 <br />CONSUMABLES USED ON PREMISES <br />160000 <br />.005 <br />800 <br />TOTAL SALES TAXES <br />17720 <br />f 71LITY FRANCHISE TAX: <br />185000 <br />.05 <br />9250 <br />„ODGING TAX - HOTEL ROOMS <br />1971000 <br />.03 <br />59130 <br />RESTAURANT TAX - FOOD SALES <br />2280000 <br />.03 <br />68400 <br />-------------------------------------------------------------------------------------------- <br />TOTAL ADDITIONAL POTENTIAL REVENUE TO LAKE ELMO: 154500 <br />MAXIMUM ADDITIONAL REVENUE AVAILABLE TO CITY OF LAKE ELMO: 216468 <br />PROPERTY TAX TO STILLWATER SCHOOL DISTRICT 170925 <br />PROPERTY TAX TO WASHINGTON COUNTY 77693 <br />--------------------------------------------------------------------------------'"--------- <br />TOTAL POTENTIAL BENEFIT TO LOCAL COMMUNITY: 465087 <br />.................. r... "..Y... W....c....e......a.r..sewa............s...w.................. <br />NOTES: <br />Sums shown are not the gross amounts due to the collecting agency, but the <br />net amount that the City of Lake Elmo could realise from each revenue source. <br />Convenience Store Sales have been adjusted to exclude groceries for home <br />consumption and clothing. <br />Amounts used are based on typical new Flying J facilities and are our best <br />estimates of what our experience will be in Lake Elmo. <br />This information was compiled based on information provided by Marilyn Banister. <br />Lake Elmo Finance Director; Ed Hervin, Washington County Assessor's Office; <br />Greg Peterson, City of Bloomington; and Steve Buchal, City of Minneapolis. <br />The numbers are estimates only. <br />I <br />