Laserfiche WebLink
COMMERCIAL PROPERTY OWNERS <br />In order to generate $395,000 of revenue for the City, a $9,625,600 commercial property owner would <br />see an increase of: <br />• $22.25 per month on their utility bill under an electric -only franchise fee scenario —or- <br />* $165.00 per month on their property tax bill under a bonding revenue, where property taxes are <br />levied to pay back the bond <br />Note: The franchise fee increase would be dependent upon the Public Utility Commissions' classification <br />of the commercial property, which is based on utility usage. The below are estimates only. <br />MONTHLY Impact on Commercial Properties <br />Franchise Fee and/or Property Tax Increase <br />Cost per Property -=-=__,eee <br />Revenue Target <br />2025 Preliminary <br />Market <br />Franchise Fee <br />2025 Property Tax <br />Property Tax (15.5%) <br />Value <br />A - Electric Only <br />Increase <br />Increase <br />Property Name <br />$ <br />343,500 <br />$ <br />4.00 <br />$ <br />5.21 <br />$ 12.40 <br />Arden Ridge Office Park <br />$ <br />1,861,100 <br />$ <br />22.25 <br />$ <br />31.34 <br />$ 74.18 <br />Chick-fil-A <br />$ <br />3,682,500 <br />$ <br />22.25 <br />$ <br />62.70 <br />$ 148.32 <br />Scherer Bros. Lumberyard, Sales & Design Center <br />$ <br />9,625,600 <br />$ <br />22.25 <br />$ <br />165.00 <br />$ 390.22 <br />Office Building 3+Stories (HealthPartners, DaVita, etc.) <br />$ <br />21,408,700 <br />$ <br />279.00 <br />$ <br />367.80 <br />$ 869.80 <br />Land O' Lakes <br />$ <br />22,141,000 <br />$ <br />279.00 <br />$ <br />- <br />$ - <br />North Heights Lutheran Church <br />$ <br />50,502,100 <br />$ <br />279.00 <br />$ <br />868.55 <br />$ 2,053.96 <br />Boston Scientific <br />$ <br />114,557,000 <br />$ <br />279.00 <br />$ <br />- <br />$ <br />Bethel University <br />Each monthly scenario would generate $395,000 annually <br />Franchise Fees Page 3 <br />