|
Street Funding Based On 2022-2031 CIP Projects updated with current costs as of 7-20-22
<br />1975-1985 Street Const Bubble $ 12,739,625
<br />2022-2031 CIP Costs $ 21,855,690
<br />2022 Pay Levy $ (1,673,227)
<br />2023 Pay Levy $ (1,756,888)
<br />2024 Pay Levy $ (1,844,733)
<br />2025 Pay Levy $ (1,936,969)
<br />2026 Pay Levy $ (2,033,818)
<br />2027 Pay Levy $ (2,135,509)
<br />2028 Pay Levy $ (2,242,284)
<br />2029 Pay Levy $ (2,354,398)
<br />2030 Pay Levy $ (2,472,118)
<br />2031 Pay Levy $ (2,595,724)
<br />Special Assess Rebates('22-28) $ 243,000
<br />ARPA Funds $ (2,650,000)
<br />Net Funding Needed $ 11,142,646
<br />Payment Options: These amounts would be in addition to the annual Pavement Management Levy of the 5%
<br />1. Add directly to property tax levy $ 1,238,072 *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 $ 1,442,276 Levied for 10 Years
<br />$200,000 Issuance Costs & $2.386M Int
<br />3. Issue debt & 15 Year Levy 23-37 payable $ 1,073,917 Levied for 15 years
<br />$200,000 Issuance Costs & $3.992M Int
<br />4. Issue debt & 20 Year Levy 23-42 Payable $ 907,686 Levied for 20 years
<br />$200,000 Issuance Costs & $5.9395M 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 $ 2,994,960 $ 3,199,164 $ 2,830,805 $ 2,664,574
<br />2024 Payable $ 3,082,805 $ 3,287,009 $ 2,918,650 $ 2,752,419
<br />2025 Payable $ 3,175,041 $ 3,379,245 $ 3,010,886 $ 2,844,655
<br />2026 Payable $ 3,271,890 $ 3,476,094 $ 3,107,735 $ 2,941,504
<br />2027 Payable $ 3,373,581 $ 3,577,785 $ 3,209,426 $ 3,043,195
<br />2028 Payable $ 3,480,356 $ 3,684,560 $ 3,316,201 $ 3,149,970
<br />2029 Payable $ 3,592,470 $ 3,796,674 $ 3,428,315 $ 3,262,084
<br />2030 Payable $ 3,710,190 $ 3,914,394 $ 3,546,035 $ 3,379,804
<br />2031 Payable $ 3,833,796 $ 4,038,000 $ 3,669,641 $ 3,503,410
<br />2032 Payable ** $ 1,442,276 $ 1,073,917 $ 907,686
<br />2033 Payable ** $ 1,073,917 $ 907,686
<br />2034 Payable $ 1,073,917 $ 907,686
<br />2035 Payable $ 1,073,917 $ 907,686
<br />2036 Payable $ 1,073,917 $ 907,686
<br />2037 Payable $ 1,073,917 $ 907,686
<br />2038 Payable $ 907,686
<br />2039 Payable $ 907,686
<br />2040 Payable $ 907,686
<br />2041 Payable $ 907,686
<br />2042 Payable $ 907,686
<br />Totals $ 32,188,315 $ 33,795,202 $ 35,481,197 $ 37,526,162
<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.
<br />
|