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<br />EXHIBIT B <br />TAX 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 /> <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 /> <br /> <br />Total Value.............................................................. ... ..$70,619,850.00 <br /> <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 />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 />Ci ty' s porti on @17 % . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 3,373,318.81 <br />