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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 16 of 18
<br />Wait 2 yrs for another tenant, no TIF
<br />Shire
<br />now with
<br />TIF, full build
<br />-out
<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
<br />projections 20%
<br />projections 40%
<br />no TIF
<br />20% no TIF
<br />no TIF
<br />no TIF
<br />(net of TIF
<br />20% net TIF
<br />net TIF`
<br />net TIF)
<br />FY08 Base
<br />$47S
<br />$ 574 , 732
<br />$3S3
<br />$2S7
<br />$ 476,943 '.
<br />574 732
<br />$ 363,154
<br />$287
<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 />$491,142
<br />FY11
<br />$1,113,764
<br />$1,336,517
<br />$891,011
<br />$668,259
<br />$1,635,757'.
<br />$1,962,908
<br />$1,308'.,605
<br />$981,454
<br />FY12
<br />$1,312,855
<br />$1,575,426
<br />$1,050,284
<br />$787,713
<br />$1,676,645'.
<br />$2,011,974
<br />$1,341,316
<br />$1,005;987
<br />FY13
<br />$2,103,789
<br />$2,524,547
<br />$1,683,031
<br />$1,262,274
<br />.$1,832,236'.
<br />$2, €98,683
<br />$1,465,789
<br />$1,099;342
<br />FY14
<br />$2,687,920
<br />$3,225,503
<br />$2,150,336
<br />$1,612,752
<br />$1,969,419'.
<br />$2,063,302
<br />$1,575,535
<br />$1,181,651
<br />FY15
<br />$2,731,332
<br />$3,277,598
<br />$2,185,065
<br />$1,638,799
<br />$2,018,654'.
<br />$2,422,385
<br />$1,614,923
<br />$1,211,192
<br />FY16
<br />$2,799,615
<br />$3,359,538
<br />$2,239,692
<br />$1,679,769
<br />$2,165,123'.
<br />$2,598,147
<br />$1,732,098
<br />$1,299;074
<br />FY17
<br />$2,869,605
<br />$3,443,527
<br />$2,295,684
<br />$1,721,763
<br />$2,317,654'.
<br />$2,781,184
<br />$1,854,123
<br />$1,390,592
<br />FY18
<br />$2,941,346
<br />$3,529,615
<br />$2,353,076
<br />$1,764,807
<br />$2,476,458'.
<br />$2,571,749
<br />$1,981'.,166
<br />$1,485,875
<br />FY19
<br />$3,014,879
<br />$3,617,855
<br />$2,411,903
<br />$1,808,928
<br />$2,641,753'.
<br />$3,170,104
<br />$2,113,403
<br />$1,585;052
<br />FY20
<br />$3,090,251
<br />$3,708,301
<br />$2,472,201
<br />$1,854,151
<br />$2,813,766'.
<br />$3,476,519
<br />$2,251,013
<br />$1,688;260
<br />FY21
<br />$3,167,507
<br />$3,801,009
<br />$2,534,006
<br />$1,900,504
<br />$2,992,728'.
<br />$3,591,274
<br />$2,394,183
<br />$1,795,637
<br />FY22
<br />$3,246,695
<br />$3,896,034
<br />$2,597,356
<br />$1,948,017
<br />$3,067,546'.
<br />$3,581,056
<br />$2,454,037
<br />$1,840,528
<br />FY23
<br />$3,327,863
<br />$3,993,435
<br />$2,662,290
<br />$1,996,718
<br />$3,144,235'.
<br />$3,773,082
<br />$2,515,388
<br />$1,886;541
<br />FY24
<br />$3,411,059
<br />$4,093,271
<br />$2,728,847
<br />$2,046,635
<br />$3,246,235'.
<br />$3,095,482
<br />$2,595,988
<br />$1,947,741
<br />FY25
<br />$3,496,336
<br />$4,195,603
<br />$2,797,068
<br />$2,097,801
<br />$3,399,327'.
<br />$4,079,193
<br />$2,719 „462
<br />$2,039,596
<br />FY26
<br />$3,583,744
<br />$4,300,493
<br />$2,866,995
<br />$2,150,246
<br />$3,484,310'.
<br />$4,181,173
<br />$2,787,448
<br />$2,090;586
<br />FY27
<br />$3,673,338
<br />$4,408,005
<br />$2,938,670
<br />$2,204,003
<br />.$3,596,611'.
<br />$4,415,933
<br />$2,877,289
<br />$2,157;967
<br />FY28
<br />$3,765,171
<br />$4,518,205
<br />$3,012,137
<br />$2,259,103
<br />$3,686,526'.
<br />$4,423,831
<br />$2,949'.,221
<br />$2,211,916
<br />Subtotal (1)
<br />$54,362,152
<br />$65,234,582
<br />$43,489,721
<br />$32,617,291
<br />$49,763,417:
<br />$59,716,100
<br />$39,810;.733
<br />', $29,858,050 '.
<br />NPV 4% (2)
<br />$34,357,966
<br />$41,229,560
<br />$27,486,373
<br />$20,614,780
<br />$31,249,922'.
<br />$37,499,907
<br />$24,999,938
<br />$18,749,953
<br />NPV 5% (2)
<br />$30,920,998
<br />$37,105,198
<br />$24,736,798
<br />$18,552,599
<br />$28,088,204'.
<br />$33,705,845
<br />$22,4701,563
<br />$16,852,923
<br />Mitigation $$
<br />$O
<br />$O
<br />$O
<br />$O
<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 '.
<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 -28
<br />$54,362,152
<br />$65,234,582
<br />$43,489721
<br />$32,617,291
<br />$52,863,417 .:
<br />$62,816,100
<br />$42,910 '
<br />$32,958
<br />NPV 4% 2
<br />$34,357,966
<br />$41,229,560
<br />$27,486,373
<br />$20,614,780
<br />$34,021 121 ;
<br />40 271 106
<br />$27,771,137
<br />$21,521,152
<br />NPV 5% 2 )
<br />$30,920,998
<br />$37,105,198
<br />$24,736,798
<br />18 552 599
<br />30 786 481;
<br />36 404 122
<br />$25,168,841
<br />$1%551,200 :
<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 16 of 18
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