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TABLE 2-9 <br /> <br />COMPARISON OF DEVELOPMENT COSTS TO ECONOMIC IMPACTS <br /> <br />COST OF AIRPORT TO COMMUNITY WITHOUT HANGARS <br /> <br />ANNUAL 20 YEAR <br /> <br />Development Stages 1, 2, 3, <br />$760,000 Financed 20 Years @ 8% <br /> <br />Property Taxes <br /> <br />Operations & Maintenance <br /> <br />$77,400 $1,548,000 <br /> <br /> 2 <br /> 8,000 160,000 <br /> <br /> 3 <br /> 15~000 -- ~0.0~000 <br /> <br />$100,400 <br /> <br />$2,008,000 <br /> <br />NOTES: 1) Includes public use areas, no hangars <br /> <br />2) <br /> <br />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 /> <br />3) <br /> <br />O&M Expenses estimated at $20,000 annually. <br />cost sharing up to $5,000/year assumed. <br /> <br />State <br /> <br />BENEFITS/OFFSETS TO COM/~JNITY <br /> <br />ANNUAL _1 20 YEAR <br /> <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 /> <br />$217,000 2 $4,030,000 <br />$144,000 2,200,000 <br />60,000 1,200,000 <br />80,000 1,600,000 <br />NA 2,034,000 <br />NA 155,000 <br />NA 62f000 <br /> <br />$501,000 <br /> <br />$11,281,000 <br /> <br />Notes: <br /> <br />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 /> <br />2-43 <br /> <br /> <br />