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Project Rob Johnson’sFACTS AND FIGURES <br />Assumptions: <br />$6 - 8 million <br />Total estimated, taxable value 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, taxable property value (based upon HCAD valuation): <br />Total annual taxes currently paid to the City of La Porteat $0.71 per $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 />Total Incentive to the Project: $106,000 <br />+ <br />Break-Even Point: 2.37 years * <br />* <br /> This sum does not consider the amount of new sales tax that the whole project will generate. <br />+ <br />$106,000/($49,700-$4,970) = 2.37 years, or 2 years and 4 months <br /> <br />