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Street Funding Based On 2022-2031 CIP Projects updated with current costs as of 7-20-22
<br />1975-1985 Street Const Bubble
<br />2022-2031 CIP Costs
<br />2022 Pay Levy
<br />2023 Pay Levy
<br />2024 Pay Levy
<br />2025 Pay Levy
<br />2026 Pay Levy
<br />2027 Pay Levy
<br />2028 Pay Levy
<br />2029 Pay Levy
<br />2030 Pay Levy
<br />2031 Pay Levy
<br />Special Assess Rebates('22-28)
<br />ARPA Funds
<br />Net Funding Needed
<br />Payment Options:
<br />$ 12,739,625
<br />$ 21,855,690
<br />$ (1,673,227)
<br />$ (1,756,888)
<br />$ (1,844,733)
<br />$ (1,936,969)
<br />$ (2,033,818)
<br />$ (2,135,509)
<br />$ (2,242,284)
<br />$ (2,354,398)
<br />$ (2,472,118)
<br />$ (2,595,724)
<br />$ 243,000
<br />$ (1,900,000)
<br />$ 11,892,646
<br />1. Add directly to property tax levy
<br />$ 1,321,405 Levied for 9 years as 2022 Pay levy done)
<br />All Principal. No interest paid
<br />2. Issue debt & 10 Year levy 23-32 Payable
<br />$ 1,538,918 Levied for 10 Years
<br />$209,900 Issuance Costs & $2.546M Int
<br />3. Issue debt & 15 Year Levy 23-37 payable
<br />$ 1,145,607 Levied for 15 years
<br />$209,900 Issuance Costs & $4.256M Int
<br />4. Issue debt & 20 Year Levy 23-42 Payable $ 968,610 Levied for 20 years
<br />$209,900 Issuance Costs & $6.34 int
<br />Total Annual Levy for Street Reconstruction: 2022-2031 Street Projects & 1975-1985 Bubble only:
<br />Option 1 Option 2 Option 3 Option 4
<br />2022 Payable $ 1,673,227 $ - $ - $ -
<br />2023 Payable $ 3,078,293 $ 3,295,806 $ 2,902,495 $ 2,725,498
<br />2024 Payable $ 3,166,138 $ 3,383,651 $ 2,990,340 $ 2,813,343
<br />2025 Payable $ 3,258,374 $ 3,475,887 $ 3,082,576 $ 2,905,579
<br />2026 Payable $ 3,355,223 $ 3,572,736 $ 3,179,425 $ 3,002,428
<br />2027 Payable $ 3,456,914 $ 3,674,427 $ 3,281,116 $ 3,104,119
<br />2028 Payable $ 3,563,689 $ 3,781,202 $ 3,387,891 $ 3,210,894
<br />2029 Payable $ 3,675,803 $ 3,893,316 $ 3,500,005 $ 3,323,008
<br />2030 Payable $ 3,793,523 $ 4,011,036 $ 3,617,725 $ 3,440,728
<br />2031 Payable $ 3,917,129 $ 4,134,642 $ 3,741,331 $ 3,564,334
<br />2032 Payable ** $ 1,538,918 $ 1,145,607 $ 968,610
<br />2033 Payable ** $ 1,145,607 $ 968,610
<br />2034 Payable $ 1,145,607 $ 968,610
<br />2035 Payable $ 1,145,607 $ 968,610
<br />2036 Payable $ 1,145,607 $ 968,610
<br />2037 Payable $ 1,145,607 $ 968,610
<br />2038 Payable $ 968,610
<br />2039 Payable $ 968,610
<br />2040 Payable $ 968,610
<br />2041 Payable $ 968,610
<br />2042 Payable $ 968,610
<br />Totals $ 32,938,315 $ 34,761,622 $ 36,556,547 $ 38,744,642
<br />**Levy of 5% annual increase would continue for 2032 payable onward, but chart
<br />just shows funding needs for 2022-2031 time period only.
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