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<br /> <br />Attachment D <br />To: <br />TCAAP JDA <br />From: <br /> Mark Ruff <br />Date: <br />June 13, 2014 <br />Re: Proposed Changes to the Master Plan <br /> <br />You have requested that we update the financial projections for the TCAAP master plan. We <br />have the following estimates: <br /> <br /> <br />1.Gross acres for sale down by approximately 20 acres. Recreation acreage increased <br />by 16.4 acres with the remainder of the increase due to larger areas anticipated for the <br />green spine and the spine road. The Hill neighborhood increased by 4.7 acres, but <br />this increase was primarily for more roads within the subdivision. <br /> <br /> <br />2.The biggest change in acreage was the flex commercial is down by 16.7 acres and the <br />Town neighborhood is down by 7+ acres in the residential area of the Town. <br /> <br /> <br />3.The loss of acreage for flex commercial buildings means the building square footage <br />is down by 182,000 s.f. This size of building equates to 350 to 550 jobs and <br />$18,000,000 to $24,000,000 in tax base. Total property taxes excluding state down <br />by $450,000 to $550,000 per year for the lower commercial value. <br /> <br /> <br />4.The housing count would also be down unless density is increased slightly. The <br />previous plan had density for residential just over 12 units/acre (excluding multi-use <br />units). The density change would need to be just under 13 units/acre to keep housing <br />units at about 1,700. Without the modifications to density, the unit count would be <br />about 1,500. This is a difference, assuming the reduction were all multi-family, of <br />$500,000 per year in property taxes. <br /> <br /> <br />5.The change in land sale revenue is as much as $7.3M, depending upon the housing <br />density, the location of the park along Highway 10, and the acreage increase for roads <br />anticipated in the Hill and Creek neighborhoods. The details are as follows: <br /> <br />w;7Ò-·zš“ z“ Œ“7 ­Œ;­ Eš© -w“m; ·š EŒ;ã -š’’;©-zŒ -©;m;tÅ <br />r  <br />r <br /> <br />w;7Ò-·zš“ z“ Œ“7 ­Œ;­ Eš© -w“m; z“ ©;­z7;“·zŒ Œ“7 ›­’; 7;“ r r <br />{Ò,·š·Œt r  <br />r <br /> <br />tŒÒ­ ¦š·;“·zŒ š·w;© z’¦-·­t <br />[š­­ šE E;; ©;Ý;“Ò; E©š’ ŒšÞ;© “Ò’,;© šE ,ÒzŒ7z“m­t  r <br />[šÞ;© Œ“7 ­Œ; E©š’ IzŒŒ‰/©;;‰ “;zmw,š©wšš7 7Ò; ·š ’šÒ“· šE ©š r <br />{Ò,·š·Œt <br />r r <br />š·Œ tš·;“·zŒ …¦C©š“· w;Ý;“Ò; /w“m; ›;ã-ŒÒ7z“m “ä -w“m;­ zÅ r r <br /> <br /> <br /> <br />