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II. STATEMENT LISTING KIND, NUMBER AND LOCATION OF ALL PROPOSED PUBLIC WORKS OR PUBLIC <br />IMPROVEMENTS IN THE ZONE <br />Public improvements in the Zone enlargement area will consist of public utilities, streets, and <br />storm water detention facilities to serve the new residential and commercial development at <br />the northwest corner of Spencer Highway and Sens Road. <br />III. ECONOMIC FEASIBILITY STUDY <br />This plan amendment is found to be economically feasible as provided in the financial exhibits to <br />this plan amendment (which exhibits constitute an economic feasibility study). <br />IV. THE ESTIMATED AMOUNT OF BONDED INDEBTEDNESS TO BE INCURRED <br />The cost of the improvements are estimated at $1,741,849 and will be reimbursed through tax <br />increment and/or La Porte Redevelopment Authority bonds. If bonds are issued, the bonded <br />indebtedness is estimated to equal to the cost of the improvements plus cost of issuance. <br />V. THE TIME WHEN RELATED COSTS OR MONETARY OBLIGATIONS ARE TO BE INCURRED <br />The Zone will incur a monetary obligation upon execution of the development agreement with the <br />developer of the Zone enlargement tract. The Zane will be obligated to reimburse the developer for the <br />eligible public improvements through increment derived from the development project. <br />VI. A DESCRIPTION OF THE METHODS OF FINANCING ALL ESTIMATED PROJECT COSTS AND THE EXPECTED SOURCES OF <br />REVENUE TO FINANCE OR PAY PROJECT COSTS, INCLUDING THE PERCENTAGE OF TAX INCREMENT TO BE DERIVED <br />FROM THE PROPERTY TAXES OF EACH TAXING UNIT THAT LEVIES TAXES ON REAL PROPERTY IN THE ZONE <br />Description of the Methods of Financing <br />The developer will advance the public improvement costs and be reimbursed through tax increment or <br />La Porte Redevelopment Authority bonds. <br />Sources of Tax Increment Revenue: <br />INCREMENT DEDICATED TO THE ZONE <br />Taxing Unit Tax Rate Dedicated <br />City of La Porte 100% of Tax Rate <br />VII. THE CURRENT TOTAL APPRAISED VALUE OF TAXABLE REAL PROPERTY IN THE ZONE <br />The total current market value within the Zone is: $1,652,696. <br />5of6 <br />