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<br />. . EXHIBIT C <br />TAX GENERATION FOR LAND USE PLAN. RLK & Biko <br /> <br />Residential <br /> <br /> <br />Total Acreage.. ............... ................... .......................... ..701 Acres <br /> <br />Density.. .... ....... .... .... ... .... ... .... ....... ........... .... .... ... ..... ...3 Homes Per Acre <br /> <br />Total Homes ............................. ............... ................... ..2,103 <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............... ............... ...................... ..$3,746,217.87 <br /> <br />Mix Residential <br /> <br /> <br />Total Acreage............................. ............... .................. ..402 Acres <br /> <br />Average Density. . . .. . .. . . . . . . .. . . .. . . .. . .. . ... . . .. . . .. . . ... .. . . .. . . .. . ... . ..7 Units Per Acre <br /> <br />Total Units.................... ............................ .................. ..2,814 <br /> <br />Value Per Unit (Based on Existing Apartment Building)...... ... ..... .$38,070.00 <br /> <br /> <br />Total Value... ......... ........ ........................... .................. ..$107,128,980.00 <br /> <br />Tax Capacity Rate@ 3.4% .......................................... ......$3,642,385.32 <br /> <br /> <br />Tax Generation Rate ....................................... ...... ......... ..1.09593 <br /> <br />Total Taxes Generated.................................................... ..$3,991,799.34 <br /> <br />Commercial/Industrial <br /> <br /> <br />Total Acreage ...... ........... ......................................... .... ..477 Acres <br /> <br />Lot Coverage... ............................................................. .35% <br /> <br />Total Square Footage of Building.. . . . .. . ... . . .. . . . .. . . .. . . .. . . . ... .... . ..7,272,342 <br />Value Per Square Foot (manufacturing/warehouse value)..............$31.46 <br /> <br /> <br />Market Value....... ... ........ .................. ......... .................. ..$228,787,879.30 <br /> <br />Tax Capacity Rate........................................ ................. ..4.7% <br /> <br />Tax Capacity Value......................................................... .$10,753,030.32 <br />Tax Generation Rate ...................................................... ..1.09593 <br /> <br />Total Taxes Generated..................... ............................... ..$11,784,568.51 <br />Total Property Taxes Generated By Land Use Plan....... $19,522,585.72 <br /> <br />City's portion @17%........................................ $3,318,839.57 <br />