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ProjectDetails <br />Taxable Annual Sales$28,875,000 <br />Number of FTEs150 <br />Average Hourly Wage$12 <br />Average Annual Wage$24,000 <br />Total Annual Payroll$3,600,000 <br />Taxable Hotel Revenue$3,832,500 <br />Value of Property, etc$56,875,000 <br />Payroll Growth Factor3% <br />Sales Growth Factor3% <br />Value of Plant/Equipment Growth Factor3% <br />Hotel Revenue Growth Factor3% <br />Discount Rate5% <br />Present Value of Fiscal Benefits - No Incentives$9,964,168 <br />Estimated Direct City Costs$375,000 <br />Present Value of Fiscal Benefits - With Incentives$5,371,194 <br />Present Value of Public Costs$344,590 <br />Present Value of Net Benefits - With Incentives$5,026,604 <br />Value to City as Percentage50.4% <br />ExampleAbatementSchedule <br />Direct <br />YearLaPorteCostTiming <br />Year1 80%50% <br />Year2 80%25% <br />Year3 65%25% <br />Year4 65%0% <br />Year5 65%0% <br />Year6 65%0% <br />Year7 10%0% <br />Year8 5%0% <br />Year9 5%0% <br />Year10 5%0% <br />37 <br />Forward La Porte Economic Development Strategic Plan I 2009-2013 <br /> <br />