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Project G Payback Period <br />Projected PILOT found by adding applicant provided cost of building/structures and machinery/equipment, dividing by <br />100, multiplying by .71 to get the ad valorum tax rate, then multiplying by .20 to represent the significant improvement <br />discount built into Note, we are currently negotiating a new IDA that will likely see this number increase, but <br />staff thought it was vital to give the most conservative estimations possible. <br />(331,000,000/100*.71)*.20= 470,020 <br />Projected Payback Period Based on Provided Construction Timeline* <br />Year Amount Paid by Projected PILOT Total Projected <br />City PILOT <br />2020 $250,000 $0 $0 <br />2021 $0 $0 $0 <br />2022 $0 $0 $0 <br />2023 $250,000 $0 $0 <br />2024 $200,000 $470,020 $470,020 <br />2025 $0 $470,020 $940,040 <br />2026 $0 $470,020 $1,410,060 <br />2027 $0 $470,020 $1,880,080 <br />2028 $0 $470,020 $2,350,100 <br />2029 $0 $470,020 $2,820,120 <br />2030 $0 $1,480,563 $4,300,683 <br />*Timeline assumes zero growth in valuation and no change in City tax rate. <br />