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05-13-24-WS
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05-13-24-WS
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COMPARTATIVE ANALYSIS - PROPERTY TYPE <br />COMMERCIAL PROPERTY OWNERS <br />In order to generate $455,000 of revenue for the City, a $9,666,600 commercial property owner would see an increase <br />of: <br />• $240.37 per month on their property tax bill under a bonding scenario, where property taxes are levied to pay back <br />the bond <br />The franchise fee would be dependent upon the Public Utility Commissions' classification of the commercial property, <br />which is based on utility usage. <br />Monthly Impact on Commercial Properties <br />Franchise Fee and/or Property Tax Increase <br />Cost per Property <br />Market <br />Franchise Fee C - Property Tax <br />Value <br />A - Electric Only B - Gas & Electric Increase <br />Property Name <br />$ 345,000 <br />$ 7.68 <br />Arden Ridge Office Park <br />$ 1,869,000 <br />$ 45.72 <br />Chick-fil-A <br />$ 3,698,200 <br />Based upon the Public Utility <br />$ 91.38 <br />Scherer Bros. Lumberyard, Sales &Design Center <br />Commissions' (PUC) customer <br />$ 9,666,600 <br />classification (utility usage) $ 240.37 <br />Office Building 3+Stories (Health Partners, DaVita, etc.) <br />$ 21,500,000 <br />$ 535.77 <br />Land O' Lakes <br />$ 50,717,500 <br />$ 1,265.12 <br />Boston Scientific <br />Each monthly scenario would generate $455,000 annually <br />
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