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TABLE 2-9 <br />COMPARISON OF DEVELOPMENT COSTS TO ECONOMIC IMPACTS <br />COST OF AIRPORT TO COMMUNITY WITHOUT HANGARS <br />Development Stages 1, 2, 3, <br />$760,000 Financed 20 Years @ 8% <br />Property Taxes <br />Operations & Maintenance <br />ANNUAL <br />$77,400 <br />8,000 2 <br />15,000 2 <br />$100,400 <br />20 YEAR <br />$1,548,000 <br />160,000 <br />300,000 <br />$2,008,000 <br />NOTES: 1) Includes public use areas, no hangars <br />2) Property taxes represent city share, assumes <br />100% lost. Taxes would not be lost if businesses <br />and residents relocate to new structures in City. <br />Cost then limited to land only. <br />3) O&M Expenses estimated at $20,000 annually. State <br />cost sharing up to $5,000/year assumed. <br />BENEFITS/OFFSETS TO COMMUNITY <br />Itinerant Passengers <br />Value to Time Saved <br />Retention Airport Business Jobs <br />Retention AVTI at Airport <br />Salvage Value of Land <br />Salvage Value of Acquired Improvements <br />Salvage Value of Improvements <br />ANNUAL 1 <br />$217,000 <br />$144,000 <br />60,000 <br />80,000 <br />NA <br />NA <br />NA <br />2 <br />20 YEAR <br />$4,030,000 <br />2,200,000 <br />1,200,000 <br />1,600,000 <br />2,034,000 <br />155,000 <br />62,000 <br />$501,000 $11,281,000 <br />Notes: 1) Annual is based on 1995 (middle of 20 year planning <br />period) <br />2) Direct dollar impact only, indirect with 1.6 <br />multiplier would be $347,000 and $6,448,000 <br />3) Based on $110,000 annual/average over 20 years <br />4) Based only 1987 employees only <br />5) 1987 cost estimate, no appreciation over <br />20 year period is figured <br />6) Reflects 10% salvage value of real estate <br />improvements <br />7) Reflects 5% salvage value of airport improvements, <br />does not include hangars <br />2-43 <br />2 <br />3 <br />4 <br />4 <br />5 <br />6 <br />7 <br />