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<br />EXHmIT B <br />T AX GENERATION FOR LAND USE PLAN - FIGURE 8 <br /> <br />Residential <br /> <br /> <br />Total Acreage ................................................................789 Acres <br /> <br />Density........................................................................3 Homes Per Acre <br /> <br />Total Homes........................ .............................. ...... ... ..2,367 <br /> <br />Average New Home Value in 1994...................................... .$117,272 <br />Tax Capacity Rate for Each Home (72,000 @ 1% > 72,000 @2% )..$1,625.44 <br /> <br /> <br />Tax Generation Rate ...................................................... ..1.09593 <br /> <br /> <br />Total Taxes Generated.................................................... ..$4,216,499.14 <br /> <br />Mix Residential <br /> <br />Total. Acreage................. ........................... .................. ..265 Acres <br /> <br />Average Density .............................................................7 Units Per Acre <br /> <br />Total Units .................................................................. .1,855 <br /> <br />Value Per Unit (Based on Existing Apartment Building)...............$38,070.00 <br />Total Value................................................................. ..$70,619,850.00 <br />Tax Capacity Rate@ 3.4% ................................................$2,401,074.90 <br /> <br /> <br />Tax Generation Rate ........ .............................................. ..1.09593 <br /> <br />Total Taxes Generated.................................................... ..$2,631,410.02 <br /> <br />Commercial/Industrial <br /> <br /> <br />Total Acreage. . . ... .. . . .. . . .. . ... . .. . . .. . . .. .. .. . .. . . .. . . ... . .. . .. . . .. . . .. . . .526 Acres <br /> <br />Lot Coverage... ,............. ............................................... .35% <br /> <br />Total Square Footage of Building....................................... ..8,019,396 <br />Value Per Square Foot (manufacturing/warehouse value)..............$31.46 <br /> <br /> <br />Market Value............................................................... ..$252,290,198.20 <br /> <br />Tax Capacity Rate......................................................... ..4.7% <br /> <br />Tax Capacity V alue..........................................................$11,857,639.31 <br /> <br /> <br />Tax Generation Rate ...................................................... ..1.09593 <br /> <br /> <br />Total Taxes Generated.................................................... ..$12,995,142.65 <br />Total Property Taxes Generated By Land Use Plan....... $19,843,051.81 <br /> <br />City's portion @17%........................................ $3,373,318.81 <br />