|
DRAFT 03.11.99
<br />Method And Timing Of Funding Project Costs
<br />Developers will fund the costs of the improvements and will be reimbursed from the
<br />issuance of bonds. Bond proceeds may be used to fund project costs if assessed
<br />valuation within the TIRZ is sufficient to support such Bonds. It is possible that bonds
<br />could be issued for reimbursement to developers in the following years and increments.
<br />2003
<br />2004
<br />2005
<br />2006
<br />2007
<br />Total Bonds
<br />$8,000,000
<br />8,000,000
<br />8,000,000
<br />8,000,000
<br />8,155,000
<br />$40,155, 000
<br />Although the timing of each phase has been included in the numerical analysis for
<br />illustrative purposes, the actual funding and construction of project costs will be
<br />determined by the actual development needs, market conditions, and available tax
<br />increment revenue of the TIRZ.
<br />Sources Of Tax Increment Revenue
<br />The purpose of the TIRZ is to provide the necessary public improvements to support
<br />residential and commercial development.
<br />Estimated Captured Appraised Value
<br />Residential Commercial Total
<br />1 /1 /2002
<br />$ 1,911,111
<br />$ 35,000, 000
<br />$ 36, 911,111
<br />1 /112003
<br />13, 500,195
<br />45, 000, 000
<br />58, 500,195
<br />1 /1 /2004
<br />25, 839,279
<br />45, 000, 000
<br />70, 839,279
<br />1 /1 /2005
<br />38,178, 363
<br />62, 500, 000
<br />100, 678, 363
<br />1/1/2006
<br />56,717,446
<br />62,950,000
<br />119,667,446
<br />1/1/2007
<br />76,934,971
<br />80,450,000
<br />157,384,971
<br />1/1/2008
<br />88,140,000
<br />84,650,000
<br />172,790,000
<br />1 /1 /2009
<br />92,340,000
<br />102,600,000
<br />194,940,000
<br />1/1/2010
<br />92,340,000
<br />107,400,000
<br />199,740,000
<br />1 /1 /2011
<br />92,340,000
<br />114,400,000
<br />206,740, 000
<br />Preliminary Reinvestment Zone Financing Plan
<br />La Porte, Texas
<br />5
<br />
|