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<br />DRAFT 03.11.99
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<br />Method And Timina Of Fundina Proiect Costs
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<br />Developers will fund the costs of the improvements and will be reimbursed from the
<br />issuance of bonds. Bond proceeds may be used to fund project costs if assessed
<br />valuation within the TIRZ is sufficient to support such Bonds. It is possible that bonds
<br />could be issued for reimbursement to developers in the following years and increments.
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<br />2003
<br />2004
<br />2005
<br />2006
<br />2007
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<br />Total Bonds
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<br />$8,000,000
<br />8,000,000
<br />8,000,000
<br />8,000,000
<br />8.155.000
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<br />$40.155.000
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<br />Although the timing of each phase has been included in the numerical analysis for
<br />illustrative purposes, the actual funding and construction of project costs will be
<br />determined by the actual development needs, market conditions, and available tax
<br />increment revenue of the TIRZ.
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<br />Sources Of Tax Increment Revenue
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<br />The purpose of the TIRZ is to provide the necessary public improvements to support
<br />residential and commercial development.
<br />
<br />1/1/2002
<br />1/1/2003
<br />1/1/2004
<br />1/1/2005
<br />1/1/2006
<br />1/1/2007
<br />1/1/2008
<br />1/1/2009
<br />1/1/2010
<br />1/1/2011
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<br />Estimated Captured Appraised Value
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<br />Residential
<br />
<br />Commercial
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<br />Total
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<br />$ 36,911,111
<br />58,500,195
<br />70,839,279
<br />100,678,363
<br />119,667,446
<br />157,384,971
<br />172,790,000
<br />194,940,000
<br />199,740,000
<br />206,740,000
<br />
<br />$ 1,911,111
<br />13,500,195
<br />25,839,279
<br />38,178,363
<br />56,717,446
<br />76,934,971
<br />88,140,000
<br />92,340,000
<br />92,340,000
<br />92,340,000
<br />
<br />$ 35,000,000
<br />45,000,000
<br />45,000,000
<br />62,500,000
<br />62,950,000
<br />80,450,000
<br />84,650,000
<br />102,600,000
<br />107,400,000
<br />114,400,000
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<br />Preliminary Reinvestment Zone Financing Plan
<br />La Porte, Texas
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