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<br />.... <br /> <br />EXHIBIT B <br />TAX GENERATION FOR LAND USE PLAN - FIGURE 8 <br /> <br />Residential <br /> <br /> <br />Total Acreage. . . .. ... . . .. . ... . ... . .. . . .... ....... ... ........ ........ .... .....789 Acres <br /> <br />Densi ty................. ........ ...... .... ....... .... ....... ........... ........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 />Tax Generation Rate....................................................... .1.09593 <br /> <br />Total Taxes Generated................................................... ...$4.216,499.14 <br /> <br />Mix Residential <br /> <br /> <br />Total Acreage. . . .. . .. . . . . . . . . . . .. . . . . . .. . . . . . . . . . . . . . .. . . .. . . .. . .. . . . . . . . . . . .265 Acres <br /> <br />Average Density. . . . . . . . . . . . . . . . . . . . . . .. . . . . . .. . . .. . . .. . . .. . ... . .. . . . . . . .. . .. 7 Units Per Acre <br /> <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 />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 />Market Value................................................................ .$252,290,198.20 <br /> <br /> <br />Tax Capacity Rate.. . . .. . . .. . . .. . '" ... . .... ... . . ...... . .. ................ . . .4.7% <br /> <br />Tax Capacity Value... ....................... ........ ....................... .$11 ,857,639.31 <br />Tax Generation Rate....................................................... .1.09593 <br /> <br />Total Taxes Generated..................................................... .$12,995, 142.65 <br />Total Property Taxes Generated By Land Use Plan..:....$19,843,051.81 <br />City's portion @17%........................................$3,3 7 3 ,318.81 <br />