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La Porte TIRZ #1
<br />Proposed Residential Development, Corner of McCabe Road and Broadway
<br />A new development is being proposed within the TIRZ 1 boundary, and Developers of the project are
<br />looking for reimbursement of public improvement costs associated with the development.
<br />The proposed development is a residential subdivision located at the northwest corner of McCabe Road
<br />and Broadway, adjacent to the golf course, as shown in Figure 1. The development is approximately 9.6
<br />acres and includes 48 lots with an average home value of $220,000. Build out of the subdivision is
<br />anticipated to occur in the Year 2020.
<br />Taxable Value & Revenues
<br />Taxable value of the project is anticipated to equal $8.5 million at build out, in the Year 2020, and is
<br />expected to increase to approximately $9.7 million by the Year 2029, Over the life of the TIRZ, revenues
<br />generated from this development are anticipated to equal to approximately $1.1 million as shown in
<br />Table 1 and Exhibit 1. Projected revenues include both City and ISD participation.
<br />Table Z
<br />Year
<br />Taxable
<br />Valuation
<br />City TIRZ
<br />Revenues
<br />ISD TIRZ
<br />Revenues
<br />Total TIRZ
<br />Revenues
<br />Cumulative
<br />TIRZ
<br />Revenues
<br />2018
<br />$ -
<br />$-
<br />$-
<br />$ -
<br />$ -
<br />2019
<br />$ 4,224,024
<br />$29,391
<br />$17,800
<br />$47,191
<br />$47,191
<br />2020
<br />$ 8,448,024
<br />$58,781
<br />$35,600
<br />$94,381
<br />$141,572
<br />2021
<br />$ 8,574,720
<br />$59,663
<br />$36,134
<br />$95,797
<br />$237,369
<br />2022
<br />$ 8,703,341
<br />$60,558
<br />$36,676
<br />$97,234
<br />$334,603
<br />2023
<br />$ 8,833,891
<br />$61,466
<br />$37,226
<br />$98,692
<br />$433,295
<br />2024
<br />$8,966,399
<br />$62,388
<br />$37,784
<br />$100,173
<br />$533,467
<br />2025
<br />$ 9,100,895
<br />$63,324
<br />$38,351
<br />$101,675
<br />$635,143
<br />2026
<br />$ 9,237,409
<br />$64,274
<br />$38,926
<br />$103,200
<br />$738,343
<br />2027
<br />$ 9,375,970
<br />$65,238
<br />$39,510
<br />$104,748
<br />$843,091
<br />2028
<br />$ 9,516,609
<br />$66,217
<br />$40,103
<br />$106,320
<br />$949,411
<br />2029
<br />$ 9,659,359
<br />$67,210
<br />$40,705
<br />$107,914
<br />$1,057,325
<br />Total
<br />$658,510
<br />$398,816
<br />$1,057,325
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