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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 15 of 18
<br />Wait 1 yr for another tenant, no TIF
<br />Shire
<br />now with
<br />TIF, full build
<br />-put
<br />Estimated
<br />Estimated
<br />Estimated taxes,
<br />Estimated taxes,
<br />Estimated Shire'.
<br />Estimated Shire
<br />'.Estimated Shire
<br />Estimated Shire
<br />taxes, Town
<br />taxes, inflate
<br />discount
<br />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 />$2S7
<br />$ 478 , 942
<br />$574
<br />$383
<br />$2S7
<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 />$1,086,599
<br />$1,303,919
<br />$869,279
<br />$651,960
<br />$818,569
<br />$982,283
<br />$654,855
<br />$491,1421
<br />FY11
<br />$1,284,906
<br />$1,541,888
<br />$1,027,925
<br />$770,944
<br />$1,635,757
<br />$1,962,908
<br />$1,308,605
<br />$981,454:
<br />FY12
<br />$2,074,680
<br />$2,489,616
<br />$1,659,744
<br />$1,244,808
<br />;$1,676,645
<br />$2,,011,974
<br />$1,341,316
<br />$1,005,9B7:
<br />FY13
<br />$2,657,759
<br />$3,189,310
<br />$2,126,207
<br />$1,594,655
<br />$1,832,238
<br />$2;.198,683
<br />'. $1,465,789
<br />$1,099,342:
<br />FY14
<br />$2,700,431
<br />$3,240,518
<br />$2,160,345
<br />$1,620,259
<br />$1,9697419
<br />$21,363,302
<br />$1,575,535
<br />$1,1B1.651
<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:
<br />FY16
<br />$2,837,141
<br />$3,404,569
<br />$2,269,713
<br />$1,702,284
<br />$2,165,123
<br />$2!,598,147
<br />$1,732,098
<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,;781,184
<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 />$1,585,052
<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 />$1,688,760:
<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 />$1,795,1137 i
<br />FY22
<br />$3,290,214
<br />$3,948,256
<br />$2,632,171
<br />$1,974,128
<br />:$3,067,5461
<br />$3,681,056
<br />$2,454,037
<br />$1,840,228:
<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 />$2,596,98B
<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 />$4,1B1,173
<br />$2,787,448
<br />$2,090,586:
<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 />$2,157,9671
<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 />$2,211,516:
<br />Subtotal (1)
<br />$56,466,367
<br />$67,759,641
<br />$45,173,094
<br />$33,879,820
<br />$49,763,417
<br />$59,715,100
<br />$39,810,733
<br />',$29,858,450
<br />NPV 4% (2)
<br />$35,981,537
<br />$43,177,845
<br />$28,785,230
<br />$21,588,922
<br />$31,249,923
<br />$37,499,907
<br />$24,999,938
<br />$18,749.953 i
<br />NPV 5% (2)
<br />$32,451,896
<br />$38,942,276
<br />$25,961,517
<br />$19,471,138
<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 />$3,100,000
<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 4
<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:
<br />Total FY09 -211
<br />$56,466,367
<br />$67,759,641
<br />$45,173094
<br />$33,879,820
<br />$52,863,417
<br />$42,910,733
<br />$32,958,050
<br />NPV 4% 2
<br />$35,981,537
<br />$43,177,845
<br />$28,785,230
<br />$21,588,922
<br />$34.021,121
<br />271 106
<br />i 27 771 137
<br />i 21 521 152
<br />NPV 5% 2
<br />32 451 896
<br />38 942 276
<br />25 961 517
<br />19 471 138
<br />30 786 481
<br />404 122
<br />$25J68
<br />i 19 551 200 3
<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 15 of 18
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