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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 17 of 18
<br />Wait 4 yrs for another tenant, no TIF
<br />Shire
<br />now with
<br />TIF,
<br />full build-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 TIF
<br />20% (net TIF)
<br />(net TIF
<br />net TIFF
<br />FY08 Base
<br />$47S
<br />574 732
<br />$ 3S3 , 154
<br />$2S7
<br />$478,943
<br />$ 574,732
<br />383154
<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 />$1,086,599
<br />$1,303,919
<br />$869,279
<br />$651,960
<br />$818,565
<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 />$1,141,608
<br />$1,369,930
<br />$913,287
<br />$684,965
<br />:$1,676,645
<br />$2,011,974
<br />$1,341,316
<br />$1,005,987
<br />FY13
<br />$1,170,149
<br />$1,404,178
<br />$936,119
<br />$716,166
<br />$1,832,236
<br />$2,198,683
<br />$1,465,789
<br />$1,099,342
<br />FY14
<br />$1,370,651
<br />$1,644,782
<br />$1,096,521
<br />$838,690
<br />$1,969,419
<br />$2,363,302
<br />$1,575,535
<br />$1,181;651
<br />FY15
<br />$2,163,043
<br />$2,595,651
<br />$1,730,434
<br />$1,314,532
<br />$2,018,654
<br />$2,422,385
<br />$1,614,923
<br />$1,211;192
<br />FY16
<br />$2,748,663
<br />$3,298,395
<br />$2,198,930
<br />$1,666,322
<br />:$2,165,123
<br />$2,598,147
<br />$1,732,098
<br />$1,299,074
<br />FY17
<br />$2,793,593
<br />$3,352,312
<br />$2,234,874
<br />$1,693,708
<br />;$2,317,654
<br />$2,781,184
<br />$1,854,123
<br />$1,390;592
<br />FY18
<br />$2,863,433
<br />$3,436,119
<br />$2,290,746
<br />$1,736,051
<br />$2,476,458
<br />$2,971,749
<br />$1,981,166
<br />$1,485;875
<br />FY19
<br />$2,935,019
<br />$3,522,022
<br />$2,348,015
<br />$1,779,452
<br />:$2,641,753
<br />$3,170,104
<br />$2,113,403
<br />$1,585,052
<br />FY20
<br />$3,008,394
<br />$3,610,073
<br />$2,406,715
<br />$1,823,938
<br />$2,813,766
<br />$3,376,519
<br />$2,251,013
<br />$1,688,260
<br />FY21
<br />$3,083,604
<br />$3,700,325
<br />$2,466,883
<br />$1,869,537
<br />:$2,992,724
<br />$3,591,274
<br />$2,394,183
<br />$1,795;637
<br />FY22
<br />$3,160,694
<br />$3,792,833
<br />$2,528,555
<br />$1,916,275
<br />$3,067,545
<br />$3,681,056
<br />$2,454,037
<br />$1,840;528 '.
<br />FY23
<br />$3,239,711
<br />$3,887,654
<br />$2,591,769
<br />$1,964,182
<br />:$3,144,235
<br />$3,773,082
<br />$2,515,388
<br />$1,886,541
<br />FY24
<br />$3,320,704
<br />$3,984,845
<br />$2,656,563
<br />$2,013,287
<br />'$3,246,235
<br />$3,895,482
<br />$2,5901,988
<br />$1,947;741 '.
<br />FY25
<br />$3,403,722
<br />$4,084,466
<br />$2,722,977
<br />$2,063,619
<br />$3,399,327
<br />$4,079,193
<br />$2,719,462
<br />$2,039;596
<br />FY26
<br />$3,488,815
<br />$4,186,578
<br />$2,791,052
<br />$2,115,209
<br />:$3,484,310
<br />$4,181,173
<br />$2,787,448
<br />$2,090,586
<br />FY27
<br />$3,576,035
<br />$4,291,242
<br />$2,860,828
<br />$2,168,089
<br />;$3,596,611
<br />$4,315,933
<br />$2,877,289
<br />$2,157;967
<br />FY28
<br />$3,665,436
<br />$4,398,523
<br />$2,932,349
<br />$2,222,292
<br />$3,686,526
<br />$4,423,831
<br />$2,949,221
<br />$2,211,916
<br />Subtotal (1)
<br />$50,272,120
<br />$60,326,544
<br />$40,217,696
<br />$30,469,622
<br />$49,763,417
<br />$59,716,100
<br />$39,810,733
<br />$29,858,050
<br />NPV 4% (2)
<br />$31,341,667
<br />$37,610,000
<br />$25,073,333
<br />$18,991,451
<br />$131,249,922
<br />$37,499,907
<br />$24,999,938
<br />$18,749,953
<br />NPV 5% (2)
<br />$28,110,478
<br />$33,732,574
<br />$22,488,382
<br />$17,032,273
<br />$',28,088,204
<br />$33,705,845
<br />$22,476,563
<br />$16,852,923
<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 />:$2,771,194
<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 />$50,272,120
<br />$60,326,544
<br />$40,217696
<br />$30,469,622
<br />$52,863,417
<br />`16 100
<br />42 910 733
<br />32 958 050
<br />NPV 4% 2
<br />31 341 667
<br />37 610 000
<br />25 073 333
<br />18 991 451
<br />34 021 121
<br />71 106
<br />[ R62,
<br />27 771 137
<br />21 52Y 152
<br />NPV 5% 2
<br />28 110 478
<br />33 732 574
<br />22 488 382
<br />17 032 273
<br />30 786 481
<br />04 122
<br />$25,168,841
<br />$1%551
<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 17 of 18
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