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Project Rob Johnson’sFACTS AND FIGURES <br />Assumptions: <br />$6-8 million <br />Total estimated, taxablevalue of both Phases #1 and 2: <br />August 2014 <br />Phase #1 will be substantially complete by . <br />2015 <br />Phase #2 will begin by early . <br />Current Property Value and Taxes <br />$700,000 <br />Current, taxableproperty value(based upon HCAD valuation): <br />Total annual taxes currently paid to the City of La Porteat $0.71per $100 of assessed <br />$4,970 <br />taxable value: <br />Real, Business Personal Property Tax to be Received Annually: <br />Totaltaxes to be paid tothe City of La Porte upon completion of both Phases #1 and 2 of <br />$49,700* <br />the project,and an estimatedtotal taxable value of $7,000,000: <br />Break-Even Point: <br />$106,000$44,730 <br />Assuming a total incentive grant of and new annual taxes of , the <br />2 years and 4 months <br />break-even point would be . <br />st <br />) Incentive:$66,000 <br />Value of the First (1 <br />Current, Additional Incentive Request:$40,000 <br />TotalIncentive to the Project:$106,000 <br />+ <br />Break-Even Point:2.37years * <br />* <br />This sum does not consider the amount of new sales tax that thewholeproject will generate. <br />+ <br />$106,000/($49,700-$4,970)=2.37years, or 2 years and 4 months <br /> <br />