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Last modified
2/16/2024 9:57:58 AM
Creation date
2/16/2024 9:46:04 AM
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Planning Files
Planning Files - Planning File #
1877
Planning Files - Type
Planned Unit Development
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1-11e ---- ����� analysis involves <br />the formula that roper subsidy amount which is"derived from <br />would include <br />reasonable market value for clue (purchase price of subsidy.) Using this formula, the cgt type = city site, <br />y tax increment <br />following subsidies. y would need to utilize th <br />e <br />A. Single family - <br />$2,786,000 <br />B. Dup-lex _ <br />$2,354,000 <br />C.- uad - $2,201,000 <br />The bond issue scenario would appear p as follows: <br />SINGLE FAMILY <br />DUX UAD <br />BOND ISSUE $4,085,000 <br />$3,570,000 $3,251,000 - <br />DEBT SERVICE $434,494 <br />$379 776 <br />TAX INCREMENT ' $345,848 <br />$200,000 $320,000 <br />REQUIRED CITY $388,125 <br />TAX LEVY $234,495 <br />$ 59,776 $ 0 <br />It should be noted that both approaches result in virtually <br />whether the Cit The final option would be the <br />developer or, as a Port would <br />want tO continue to based on <br />owner. <br />It should also be city, actually market the laWork nd a one <br />stated that a referendum would noted <br />not be Brl s an <br />ggs and Morgan. has. <br />scenarios. Essentially,required for an <br />referendum for a tax increment bond ty is not re y °f these <br />the debt service is covered b required to conduct a <br />issue if a minimum of 200 of <br />y tax increment. <br />
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