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CITY PROPERTY TAX PROJECTIONS- <br /> Entire <br /> Deveiopable Area <br /> Built Out(years) %of forecast Valuation Total Taxes City Only <br /> 16 _ 100% $165.8M $82.51VI $16.7M <br /> 16 _ 90% T� $149.2M $70.7M $14.6M <br /> 16 80% $132.6M $65.8M $13.3M <br /> IndustrialPark Only <br /> Built Out(years) , %of forecast Valuation Total Taxes City Only <br /> 16 10051. $86.4M $51.8M $8.7M <br /> 16 90% $77.7M $46.6M $7.9M <br /> 16 80% $69.1M $41.4M $6.9M <br /> • Tax benefits are displayed in future value terms based on 30 years of tax collections,based <br /> on 2015 tax rates. Valuations are total cumulative,and include annual inflation of 2%. <br /> Assumes school campus remains tax exempt(not accounted for in this scenario). <br /> • 100%build out models are based on 25%industrial building coverage. Max building <br /> coverage is 45%based on City zoning. Typically,in mature business parks,the market <br /> delivers building coverages ranging between 25%-35%. The 16 year>100%build out <br /> model outlined in the table above is considered reasonable and conservative by staff;and <br /> should be considered as base projections. <br /> • The"City Only" portion of property taxes outlined does not include proceeds from fiscal <br /> disparities. About 40%of commercial/industrial property taxes are placed into the fiscal <br /> disparities pool. <br /> • Utilizing TIF to pay for costs associated with the future business park would positively <br /> affect the cost-benefit analysis for the City(i.e. property tax revenues would be increased <br /> by a factor of about 2.5). <br /> NON-CITY PROPERTY TAX PROJECTIONS- <br /> Entire <br /> Developable <br /> Built Out(years) %of forecast County School State Other Fiscal Disparities <br /> 16 100% $14.6M $7.9M $15.8M $2.2M $18.0M <br /> 20 �- 100% $12.8M $6.9M $12.8M $2.0M $14.6M <br /> IndustrialPark Only <br /> Built Out(years)_ %of forecast County School State Other Fiscal Disparities <br /> 16 100% $7.7M $4.1M $12.5M $1.7M $14.2M <br /> 20 100% $7.OM $3.7M $11.6M $1M $13.2M <br /> Tax benefits are displayed in future value terms based on 30 years of tax collections,based on 2015 tax rates. <br /> Valuations are total cumulative,and include annual inflation of 2%. Assumes school campus remains tax exempt(not <br /> accounted for in this scenario). 100%build out models are based on 25%industrial building coverage. Max building <br /> coverage is 45%based on City zoning. Typically,in mature business parks,the market delivers building coverages <br /> ranging between 25%-35%. <br /> Page 6 of 12 <br />