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APPROPRIATION COMMITTEE REPORT, OCTOBER 9, 2007 TO STM
<br />NOTES: (1) These figures include $280,599, which is the base year (FY09) tax for parcel 400. In the Town's analysis, this is subtracted from the totals since it falls
<br />outside of the term of the TIF agreement for the 400 parcel. However, since our analysis simply attempts to demonstrate the total of tax revenue +
<br />mitigation monies the town will receive under various scenarios in FY09 - FY28, we have included this number in our calculations.
<br />(2) NPV = FY09 net present value
<br />Page 14 of 18
<br />Shire now without TIF, full build -out
<br />Shire
<br />now with
<br />TIF, full build
<br />-out
<br />Estimated Shire
<br />Estimated Shire
<br />Estimated Shire
<br />Estimated Shire
<br />Estimated Shire:
<br />Estimated Shire
<br />Estimated Shire
<br />Estimated Shire
<br />taxes, Town
<br />taxes, inflate
<br />taxes, discount
<br />taxes, discount
<br />taxes, Town
<br />taxes, inflate
<br />taxes, discount
<br />taxes, discount
<br />projections,
<br />projections
<br />projections 20%
<br />projections 40%
<br />projections,
<br />projections 20%
<br />projections 20%
<br />projections 40%
<br />no TIF
<br />20% no TIF
<br />no TIF
<br />no TIF
<br />(net of TIF
<br />net TIF
<br />!( net TIF
<br />net TIF
<br />FY08 Base
<br />$47S
<br />$ 574 , 732
<br />$3S3
<br />$2S7
<br />$
<br />$ 574 732
<br />$383
<br />$ 287 , 366
<br />FY09
<br />$938,484
<br />$1,126,180
<br />$750,787
<br />$563,090
<br />$779,864
<br />$935,837
<br />$623,891
<br />$467,918:
<br />FY10
<br />$1,253,567
<br />$1,504,281
<br />$1,002,854
<br />$752,140
<br />$818,569
<br />$982,283
<br />$654,855
<br />$491,142
<br />FY11
<br />$2,024,078
<br />$2,428,894
<br />$1,619,263
<br />$1,214,447
<br />:$1,635,757
<br />$1,962,908
<br />$1,308,605
<br />$981,454:
<br />FY12
<br />$2,592,935
<br />$3,111,522
<br />$2,074,348
<br />$1,555,761
<br />$1,676,645
<br />$2,011,974
<br />$1,341,316
<br />$1,005,987:
<br />FY13
<br />$2,634,567
<br />$3,161,481
<br />$2,107,654
<br />$1,580,740
<br />:$1,832,2361
<br />$2,198,683
<br />$1,4615,789
<br />$1,099,542:
<br />FY14
<br />$2,700,431
<br />$3,240,518
<br />$2,160,345
<br />$1,620,259
<br />;$1,969,419
<br />$2!,363,302
<br />$1,525,535
<br />$1,181,651:
<br />FY15
<br />$2,767,942
<br />$3,321,531
<br />$2,214,354
<br />$1,660,765
<br />$2,018,654
<br />$2;.422,385
<br />'. $1,614,923
<br />$1,211,192 i
<br />FY16
<br />$2,837,141
<br />$3,404,569
<br />$2,269,713
<br />$1,702,284
<br />$2,165,123
<br />$2,59B,147
<br />$1,732,09B
<br />$1,299,074
<br />FY17
<br />$2,908,069
<br />$3,489,683
<br />$2,326,455
<br />$1,744,842
<br />;$2,317,654
<br />$2!,7B1,184
<br />$1,854,123
<br />$1,390,592:
<br />FY18
<br />$2,980,771
<br />$3,576,925
<br />$2,384,617
<br />$1,788,463
<br />$2,476,458
<br />$2;971,749
<br />$1,981,166
<br />$1,485,875:
<br />FY19
<br />$3,055,290
<br />$3,666,348
<br />$2,444,232
<br />$1,833,174
<br />$2,641,753
<br />$3,170,104
<br />$2,113,403
<br />$1,5B5,052
<br />FY20
<br />$3,131,673
<br />$3,758,007
<br />$2,505,338
<br />$1,879,004
<br />:$2,813,766
<br />$3,376,519
<br />$2,251,013
<br />$1,688,260:
<br />FY21
<br />$3,209,964
<br />$3,851,957
<br />$2,567,972
<br />$1,925,979
<br />.$2,992,728
<br />$3,;591,274
<br />$2,394,183
<br />$1,795,637
<br />FY22
<br />$3,290,214
<br />$3,948,256
<br />$2,632,171
<br />$1,974,128
<br />:$3,067,546
<br />$3,.681,056
<br />$2,454,037
<br />$1,840,528:
<br />FY23
<br />$3,372,469
<br />$4,046,963
<br />$2,697,975
<br />$2,023,481
<br />:$3,144,235
<br />$3,773,082
<br />'. $2,515,388
<br />$1,886,541
<br />FY24
<br />$3,456,781
<br />$4,148,137
<br />$2,765,424
<br />$2,074,068
<br />;$3,246,235
<br />$3,;895,482
<br />$2,596,988
<br />$1,947,741
<br />FY25
<br />$3,543,200
<br />$4,251,840
<br />$2,834,560
<br />$2,125,920
<br />'$3,399,327
<br />$4,079,193
<br />'. $2,719,462
<br />$2,039,596
<br />FY26
<br />$3,631,780
<br />$4,358,136
<br />$2,905,424
<br />$2,179,068
<br />$3,484,310
<br />$4,181,173
<br />$2,787,448
<br />$2,090,586 i
<br />FY27
<br />$3,722,575
<br />$4,467,090
<br />$2,978,060
<br />$2,233,545
<br />:$3,596,611
<br />$4,315,933
<br />$2,877,289
<br />$2,157,967:
<br />FY28
<br />$3,815,639
<br />$4,578,767
<br />$3,052,511
<br />$2,289,383
<br />$3,686,526
<br />$4,423,831
<br />$2,949,221
<br />$2,211,916:
<br />Subtotal (1)
<br />$57,867,571
<br />$69,441,085
<br />$46,294,057
<br />$34,720,542
<br />$49,763,417
<br />$59,715,100
<br />$39,810,733
<br />',$29,858,450
<br />NPV 4% (2)
<br />$37,216,975
<br />$44,660,370
<br />$29,773,580
<br />$22,330,185
<br />$31,249,922
<br />$37,499,907
<br />$24,999,938
<br />$18,749.9535
<br />NPV 5% (2)
<br />$33,650,064
<br />$40,380,077
<br />$26,920,052
<br />$20,190,039
<br />$28,088,204
<br />$33,705,845
<br />$22,470,563
<br />$16,852,923 i
<br />Mitigation $$
<br />$0
<br />$0
<br />$0
<br />$0
<br />$3,100,004
<br />$3,100,000
<br />$3,100,000
<br />$3,100,000 '.
<br />NPV 4% (2)
<br />$0
<br />$0
<br />$0
<br />$0
<br />;$2,771,199
<br />$2,771,199
<br />$2,771,199
<br />$2,771,199:
<br />NPV 5% (2)
<br />$0
<br />$0
<br />$0
<br />$0
<br />$2,698,277
<br />$2,698,277
<br />$2,698,277
<br />$2,698,277 i
<br />Total FY09 -28
<br />$57,867,571
<br />$69,441,085
<br />$46,294057
<br />$34,720,542
<br />52863417
<br />$62 81,6 100
<br />42 910 733
<br />$32,958,050
<br />NPV 4% 2 )
<br />$37,216,975
<br />$44,660,370
<br />$29,773,580
<br />$22,330,185
<br />34 021 121
<br />$40
<br />i 27 771,137
<br />$21,521,152
<br />NPV 5% 2 )
<br />$33,650,064
<br />$40,380,077
<br />$26,920,052
<br />$20,190,039
<br />30 786 481
<br />$36
<br />$25,168,841
<br />i 19 555 200
<br />NOTES: (1) These figures include $280,599, which is the base year (FY09) tax for parcel 400. In the Town's analysis, this is subtracted from the totals since it falls
<br />outside of the term of the TIF agreement for the 400 parcel. However, since our analysis simply attempts to demonstrate the total of tax revenue +
<br />mitigation monies the town will receive under various scenarios in FY09 - FY28, we have included this number in our calculations.
<br />(2) NPV = FY09 net present value
<br />Page 14 of 18
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