Agenda - Council - 09/12/1994 - Laserfiche WebLink

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Memorandum To: From: Date: Ryan Schroeder, City Administrator_, ~ Jam}s Gromberg, Project manage~.~J September 2, 1994 Subject: TIF projections for Detail Tool and Engineering, Inc. As you requestekl, I have calculated the numbers for the Detail Tool and Engineering, Inc. facility to be located on!Lot 1, Block 1, Gateway North Industrial Park Plat 4. Detail Tool and Engineering, Inc Facility: Site size Original value Office facility Manufacturing facility Tax generation r~te Tax generation ra. te Tax Rate preferred Fiscal Dispariries: Rate Tax value generated Total tax value 2+ Acres $22,000 3,500 square feet 9,500 square feet $50.55 per square foot of office $31.46 per square foot of manufacturing 3% on $100,000 4.7% on remaining value 36.9956% 176,925.00 Office 298,870.00 Manufacturing 22,500.00 Land 498,295.00 Listed below are ~he projections for this project. Please review these projections and make any required changesi Total Estimated V~alue Total Tax Capacity Original Tax Capacity Fiscal Disparities '.Contribution Captured Tax Cap, acity Local Tax Rate (1993/94) Projected Tax Increment $ 498,295 $ 21,720 $ 1,035 $ 8,035 $ 12,649 1.09593 $ 13,863 Total Increment 1998-2012 $ 207,944 Office spate 2,400 square feet per REC Warehouser space 7,000 square feet per unit Total REC .46 REC .36 REC 2.82 WAC @ $i1,250 SAC @ Sg00 SAC Handling fee @ $150 Total Cht~rges Sewer trun~ charge @ $2,563 per acre Water Trurik charge @ $5,704 per acre Total Semite Availability Charges $ .3,750 $ '. 2,400 $ 450 $ 6,600 $ 5,126.00 $ 11,408.00 $ 16,534.00 /q3