10.01 - Government Drive Funding

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Financing of Street Improvements September 16, 2011 Page 2 All scenarios include the original $1,269,670 Government Drive project. 1) Street Reconstruction structuring scenario with the additional costs: $2,490,000 Street Reconstruction Bonds (reduced by $500k city funds) 475,000 Utility Revenue Bonds $2,965,000 Total Bonds Based on today's Tax Exempt interest rates, 20 -year term and multiple other assumptions, our estimate of the annual tax impact of this scenario is as follows: Notes: Changes in interest rates, timing or size of the bond issue may cause significant changes to the estimated tax impacts. This chart does not consider the pay 2012 Market Value Exclusion as the information to make these �-- calculations was not available at this time. The Market Value Exclusion may cause significant changes to the estimated tax impacts. 2) Tax Abatement structuring scenario with the additional costs: $3,000,000 Tax Abatement Bonds 475,000 Utility Revenue Bonds $3,475,000 Total Bonds Based on today's Tax Exempt interest rates, 20 -year term and multiple other assumptions, our estimate of the annual tax impact of this scenario is as follows: General Tax Rate Rural Tax Rate $150,000 Residential Homestead MV $94 $70 $350,000 Residential Homestead MV $258 $192 $500,000 Commercial /Industrial $692 $516 $100,000 dwelling, 80 acres agricultural homestead, total EMV $340,000 $144 $107 80 acres agricultural non homestead, EMV $240,000 $180 $134 Notes: Changes in interest rates, timing or size of the bond issue may cause significant changes to the estimated tax impacts. This chart does not consider the pay 2012 Market Value Exclusion as the information to make these �-- calculations was not available at this time. The Market Value Exclusion may cause significant changes to the estimated tax impacts. 2) Tax Abatement structuring scenario with the additional costs: $3,000,000 Tax Abatement Bonds 475,000 Utility Revenue Bonds $3,475,000 Total Bonds Based on today's Tax Exempt interest rates, 20 -year term and multiple other assumptions, our estimate of the annual tax impact of this scenario is as follows: �. Notes: Changes in interest rates, timing or size of the bond issue may cause significant changes to the estimated tax impacts. This chart does not consider the pay 2012 Market Value Exclusion as the information to make these calculations was not available at this time. The Market Value Exclusion may cause significant changes to the estimated tax impacts. General Tax Rate Rural Tax Rate $150,000 Residential Homestead MV $113 $84 $350,000 Residential Homestead MV $308 $230 $500,000 CommerciaUlndustrial $828 $618 $100,000 dwelling, 80 acres agricultural homestead, total EMV $340,000 $172 $128 80 acres agricultural non homestead, EMV $240,000 $215 $160 �. Notes: Changes in interest rates, timing or size of the bond issue may cause significant changes to the estimated tax impacts. This chart does not consider the pay 2012 Market Value Exclusion as the information to make these calculations was not available at this time. The Market Value Exclusion may cause significant changes to the estimated tax impacts.