Items 8B & 8C - 5000 Riley Ct
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Discussion and action that the City Manager be authorized to execute a Tax Abatement Agreement between the City of El Paso and RNR Properties, a Texas general partnership, pursuant to the City’s Infill Development Incentive Policy, for the construction of an apartment complex at 5000 Riley Ct., El Paso, Texas. (District 2) Discussion and action that the City Manager be authorized to execute a Chapter 380 Economic Development Sales Tax Rebate Program Agreement by and between the City of El Paso and RNR Properties, a Texas general partnership, pursuant to the City’s Infill Development Incentive Policy for the construction of an apartment complex at 5000 Riley Ct., El Paso, Texas. (District 2)
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When there is a distinct and shared vision for your community - when residents, businesses and local government anticipate a sustainable town with cohesive and thriving neighborhoods - you have the power to conserve your beautiful natural spaces, enhance your existing downtown or Main Street, enable rural areas to be productive and prosperous, and save money through efficient use of existing infrastructure.
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Success is clearly visible in Maine, from the creation of a community-built senior housing complex and health center in Fort Fairfield to conservation easements creating Forever Farms to Rockland's revitalized downtown. Communities have options. We have the power to manage our own responses to growth and change.
After all, “Planning is a process of choosing among those many options. If we do not choose to plan, then we choose to have others plan for us.” - Richard I. Winwood
And in the end, this means that our children and their children will choose to make Maine home and our economy will provide the opportunities to do so.
The Summit offers you a wonderful opportunity to be a part of the transformative change in Maine that we’ve seen these gatherings produce. We encourage you to consider the value of being actively involved in growing Maine’s economy and protecting the reasons we choose to live here.
El Paso City Council 08.05.14 Agenda Item 7.2.1 & 7.2.2
Discussion and action that the City Manager be authorized to execute a Tax Abatement Agreement between the City of El Paso and Cavallion Developers LLC, a Texas limited liability corporation, pursuant to the City’s Infill Development Incentive Policy, for the construction of a mixed use commercial and residential property on the vacant lot located at 5101 Fairbanks, El Paso, Texas 79924. Total estimated tax abatement is $3,144.73.
District 4
Discussion and action that the City Manager be authorized to execute a Chapter 380 Economic Development Sales Tax Rebate Program Agreement by and between the City of El Paso and Cavallion Developers LLC, a Texas limited liability company, pursuant to the City’s Infill Development Incentive Policy for the construction of a mixed use commercial and residential property on the vacant lot located at 5101 Fairbanks, El Paso, Texas 79924. Total estimated sales tax rebate is $2,000. Total estimated permit fee waivers are $10,000.
District 4
Green Incentive Programs
Outlining different incentive programs through local and state levels for energy efficiency. From the 2010 Ohio Energy Summit. By David Hull.
Community redevelopment areas and public infrastructure 070714
Community redevelopment areas (CRAs) are designated by local governments in Florida to carry out redevelopment projects and promote economic development. CRAs are authorized under state law and funded through tax increment financing. The document discusses the process for creating a CRA, potential redevelopment projects and funding sources, and provides case studies of CRAs in Wauchula and New Smyrna Beach that have funded projects like parking lots, streetscapes, and wayfinding signs. The presentation emphasizes having a clear community vision and redevelopment plan to guide CRA investments.
F3 Village Development
The panel discussion focused on village development trends, fiscal impacts, and case studies. Jon Reiner introduced concepts like historic villages, compact development, and transfer of development rights. Linda Painter discussed Storrs Center in Connecticut, a public-private partnership featuring retail, residential, and infrastructure development. Lori Massa and Wig Zamore presented on Assembly Row in Somerville, Massachusetts, which generated tax revenue and diversified the tax base through mixed-use development. Peter Flinker analyzed village economics and how different development patterns affected costs, preserved land, and roads. The panel examined real market analyses and fiscal impacts to inform village planning decisions.
Legal Issues in Site Selection
This document discusses various legal issues that arise during data center site selection beyond just title insurance and surveys. It outlines factors to consider such as workforce, utilities, zoning, and incentives. The author advocates creating a strategic incentives plan and conducting a needs assessment to set goals. A case study of Boone County, Missouri shows how negotiations there led to over $30 million in incentives for a prototypical data center project. The document concludes by emphasizing project definition, tactical execution, and solid agreements.
California’s New Affordable Housing Laws – Part Two
Governor Brown signed 15 bills into law on September 29, 2017 that are designed to help address California's affordable housing crisis. The approved bills take different approaches to the housing shortage in California, including providing more funding for affordable housing development, streamlining local government approval of housing projects, restoring local government's authority to impose inclusionary housing requirements on private housing developers, and strengthening the state's anti-NIMBY laws.
The new laws have broad implications and obligations for local municipalities, housing related public agencies, and the private developer community. To help explain the new affordable housing regulatory landscape, Meyers Nave offers a complimentary, three-part webinar series addressing the most critical issues under the new laws. In the first part of our series, we discussed SB 2, SB 3, AB 1505, AB 1598, and approaches being taken by local governments, including bond measures in Bay Area counties and a linkage fee in the City of Los Angeles.
Second Webinar:
This presentation discusses new methods for streamlining housing approvals including:
SB 35 – Streamlined Approval Process for Housing Projects
SB 540 – Workforce Housing Opportunity Zones
AB 73 – Housing Sustainability Districts
Using Existing Planning and CEQA Tools to Streamline Approval Process for Housing Projects
Overview of TIF and Recent TIF Law Changes
This presentation provides a history of tax incremental financing in Wisconsin, tax incremental financing basics, recent law changes, best practices in using TIF for community development and Examples of Projects.
OEDA Infrastructure Puzzle Power Point 3-3-15
This document discusses infrastructure financing strategies for economic development projects. It introduces the concept of an "Infrastructure Puzzle" where multiple funding sources must be pieced together to finance infrastructure projects. These sources include local funding mechanisms like tax increment financing (TIF) and special assessment districts, as well as state, federal, and private sector funding. The document provides details on TIFs, including how they work, eligible project costs, and strategies for converting future TIF revenues into upfront funding for projects. It also discusses other local funding tools and developer-funded infrastructure options.
AFFORDABLE HOUSING DEVELOPMENT IN NEW YORK CITY
A Collaborative Effort: Prepared by Nicholas Bennett, Rahsaan Browne, Julia Patterson's Emphasis on Affordable Housing Development in New York City
UC Real Estate Professional Development: Financing Tools
Financing tools workshop: an overview of new and bedrock tools of development finance, presented March 24, 2015 at University of Cincinnati Real Estate Center
by Susan E. Thomas, Port of Greater Cincinnati Development Authority and Matt Staarmann of Ross, Sinclaire and Associates
Fresno County Business Incentives Guide
The document summarizes several employment and business incentive programs available in Fresno County and California, including:
1) The New Employment Opportunities (NEO) Program which provides wage reimbursements to employers hiring Fresno County residents for up to 6 months.
2) The New Employment Credit (NEC) which offers a 35% tax credit for wages paid above 150% of minimum wage to employees in Designated Geographic Areas.
3) Programs that provide tax credits or reimbursements for hiring target groups, vocational training, manufacturing/R&D activities, and keeping businesses in California.
4) Incentives like fee deferrals, low interest loans, and tax reductions
TIF Updates
This presentation provides a history of tax incremental financing in Wisconsin, trends in its use, recent changes and best practices in using TIF for community development.
DC Affordable Housing Strategy
The presentation summarized the District of Columbia's approach to affordable and mixed-income housing. It discussed defining affordable housing, population growth driving the need for more units, tools used to finance development like tax incentives and the Housing Production Trust Fund, and innovative programs promoting mixed-use development and tenant ownership. Challenges included slow delivery of inclusionary zoning units due to the economy and lack of staff to monitor affordability requirements. Moving forward, the mayor committed $287 million in additional funding with a goal of producing 10,000 affordable units by 2020.
UC-PNC Outlook: Debt Markets - Port Authority tools
UC/PNC Outlook Conference 2015
Debt Markets panel with Laura Brunner
Port of Greater Cincinnati Development Authority
UC Real Estate Program
PlanBayArea unified slide deck
The document provides an overview of the Draft Preferred Scenario for the Plan Bay Area 2040, which establishes a 24-year regional vision for growth and investment. It summarizes the key land use and transportation strategies, which include focusing growth in Priority Development Areas, operating and maintaining the existing transportation system, and modernizing and expanding strategically. While the land use pattern meets environmental goals, it does not fully address the region's affordability issues. The Draft Preferred Scenario allocates over 90% of funds to maintenance and modernization of the existing system.
NJ Future Redevelopment Forum 2017 Reigniting Stalled Projects
The document summarizes the redevelopment of a blighted 30-year vacant site in Plainfield, NJ into a mixed-use development with commercial and residential components. A 44,000 square foot warehouse was constructed for ABC Supply and 90 affordable housing units will be built utilizing low-income housing tax credits. The project overcame challenges like environmental issues and negotiated approvals from the municipality within one year by utilizing tax incentives and financing tools. Coordination between the developer, municipal bodies, funding institutions, and state agencies was required to successfully execute the redevelopment within an aggressive timeline.
Similar to Items 8B & 8C - 5000 Riley Ct (20)
Saratoga's 12 14-21 Proposed development projects for housing element
Saratoga's 12 14-21 Proposed development projects for housing element
Cupid Alexander, Housing Program Specialist, Portland Housing Bureau, How We ...
Cupid Alexander, Housing Program Specialist, Portland Housing Bureau, How We ...
Tax-Increment Financing - How to Effectively Use it in Your Community - GSMSu...
Tax-Increment Financing - How to Effectively Use it in Your Community - GSMSu...
El Paso City Council 08.05.14 Agenda Item 7.2.1 & 7.2.2
El Paso City Council 08.05.14 Agenda Item 7.2.1 & 7.2.2
Community redevelopment areas and public infrastructure 070714
Community redevelopment areas and public infrastructure 070714
California’s New Affordable Housing Laws – Part Two
California’s New Affordable Housing Laws – Part Two
UC Real Estate Professional Development: Financing Tools
UC Real Estate Professional Development: Financing Tools
UC-PNC Outlook: Debt Markets - Port Authority tools
UC-PNC Outlook: Debt Markets - Port Authority tools
NJ Future Redevelopment Forum 2017 Reigniting Stalled Projects
NJ Future Redevelopment Forum 2017 Reigniting Stalled Projects
More from epdevelopment
El Paso City Council 09.09.14 Agenda Item 15.2: Osab Cement Lake Recommendation
Discussion and action on a recommendation from the Open Space Advisory Board that the City Council direct City staff to initiate preservation efforts of the “Cement Lake Wetlands," in coordination with the Texas Department of Transportation, to ensure its permanent preservation.
All Districts
El Paso City Council 09.09.14 Agenda Item 15.1: Resolution to approve Site De...
Discussion and action on a Resolution approving a detailed site development plan PZDS14-00021 for a portion of Lot 3, Block 19, Regal Crest Unit Three, Replat “B”, 436 Redd Road, City of El Paso, El Paso County, Texas, pursuant to Section 20.04.150. The penalty is as provided for in Chapter 20.24 of the El Paso City Code. Subject Property: 436 Redd Road. Property Owner: Lowe’s Home Centers, LLC. PZDS14-00021 [POSTPONED FROM 08-19-2014]
District 1
El Paso City Council 09.09.14 Agenda Item 14.1: TxDOT Billboard Amendment
An Ordinance amending Title 20 (Zoning), Chapter 20.18 (Sign Regulations), Article III (Billboard Regulations), Section 20.18.270 (Relocation of certain billboards for a City Public Works Project or City or State Roadway Improvement Project) to amend the existing provisions in their entirety to allow for the relocation of existing nonconforming billboards. The penalty is as provided for in Chapter 20.24 of the El Paso City Code.
[POSTPONED FROM 08-12-2014 AND 09-02-2014]
All Districts
El Paso City Council 09.09.14 Agenda Item 10.1: Transitional Living Ordinance
An Ordinance amending Title 20 (Zoning), Chapter 20.02 (General Provisions and Definitions), to delete boarding house, group home, rooming house and transitional housing and add definitions for disabled group dwelling, group residential facility, homeless shelter, lodging house and emergency shelter; Chapter 20.08 (Appendix A), Table of Permissible Uses, Sections 3 and 13 – to delete transitional housing, boardinghouse, and rooming house, to allow homeless shelter by special permit in certain commercial and manufacturing districts, to allow emergency shelter by right in all apartment and commercial districts; to allow disabled group dwelling, assisted living facility, convalescent homes, intermediate care facility, nursing home, rest home and boarding home by right in residential, apartment, commercial, and certain special purpose districts, by detailed site plan in certain other special purpose districts and by master zoning plan in the residential mixed used district; and group residential facility, assisted living facility, convalescent home, intermediate care facility, nursing home, rest home, and boarding home by special permit in residential, by right in apartment, commercial, and certain special purpose districts, by detailed site plan in certain other special purpose districts and by master zoning plan in the residential mixed use district; to delete boarding home facility 4 residents or less and 5 residents or more, to allow a lodging house by right in apartment and commercial districts; Chapter 20.10 (Supplemental Use Regulations) to delete congregate home, amend the standards for boarding home facilities, add standards and regulations for disabled group dwelling; group residential facility, and homeless shelter; and (Appendix C) Table of Parking Requirements and Standards to delete transitional housing, boarding house, and rooming house, and to add standards for homeless shelter, emergency shelter, disabled group dwelling, and group residential facility, of the El Paso City Code. The penalty is as provided for in Chapter 20.24 of the El Paso City Code.
All Districts
El Paso City Council 08.26.14 Agenda Item 3.1
A Resolution that the temporary sale and service of alcoholic beverages by Townsquare Media of El Paso, a subsidiary of Townsquare Live Events, LLC and Saint Raphael Parish Church, in the closed portions of City rights-of-way on South El Paso Street between San Antonio Street to Paisano Drive from 2:00 pm to 11:00pm on September 20, 2014 is a permissible activity in conjunction with The 2014 Mexican Food Cook-Off, upon issuance of the required permits from the Texas Alcoholic Beverage Commission and the City of EI Paso.
District 8
El Paso City Council 08.05.14 Agenda Item 7.1: Zoning
An Ordinance changing the zoning of Lot 1, Block 28, Terrace Hills Addition Unit Four, 5101 Fairbanks Drive, City of El Paso, El Paso County, Texas from R-3 (Residential) to G-MU (General-Mixed Use) approving a Master Zoning Plan, and approving a reduction in the minimum district area. The penalties are as provided for in Chapter 20.24 of the El Paso City Code. Subject Property: 5101 Fairbanks Drive. Property Owner: Cavallion Developers, LLC. PZRZ14-00003
District 4
El Paso City Council 08.05.14 Agenda Item 6.3: Zoning
An Ordinance changing the zoning of a portion of Section 28 and 33, Block 79, Township 2, Texas and Pacific Railway Company Surveys, North of Montana Avenue and East of Purple Heart Boulevard, City of El Paso, El Paso County, Texas from C-4 (Commercial) to R-MU (Residential-Mixed Use) and approving a Master Zoning Plan. The penalties are as provided for in Chapter 20.24 of the El Paso City Code. Subject Property: North of Montana Avenue and East of Purple Heart Boulevard. Property Owner: River Oaks Properties, LTD. PZRZ14-00023
District 5
El Paso City Council 08.05.14 Agenda Item 6.2: Special Permit
An Ordinance granting Special Permit No. PZST14-00012, to allow for a medical office on the property described as Lots 13, 14, and 15, Block 17, Del Norte Acres, 8894 & 8898 Gateway Boulevard North, City of El Paso, El Paso County, Texas, Pursuant to Section 20.04.260 of the El Paso City Code. The penalty being as provided for in Chapter 20.24 of the El Paso City Code. Subject Property: 8894 & 8898 Gateway Boulevard North. Property Owner: Dr. Dipak Patel. PZST14-00012
District 2
El Paso City Council 08.05.14 Agenda Item 6.1: Zoning
An Ordinance changing the zoning of Tract 1, Block 13, Ysleta Grant, 8137 San Jose Road, City of El Paso, El Paso County, Texas from R-F (Ranch and Farm) to S-D (Special Development). The penalty is as provided for in Chapter 20.24 of the El Paso City Code. Subject Property: 8137 San Jose Road. Property Owner: Brenda I. Boysselle. PZRZ14-00017
District 7
Item 5.5 transitional living
This ordinance amends zoning regulations related to group living facilities. It removes outdated definitions and adds new definitions for disabled group dwellings, group residential facilities, halfway houses, and homeless shelters. It establishes supplemental use regulations for these facilities, including occupancy limits, staffing requirements, and location restrictions. The ordinance also updates the permissible use table and parking requirements to regulate where these facilities can operate.
El Paso City Council 07.29.14 Agenda Item 5.3: Zoning
An Ordinance changing the zoning of a portion of Lots 14-26, Block 4, Hughes Subdivision, 5713-5717 Welch Avenue, City of El Paso, El Paso County, Texas from R-5 (Residential) to S-D (Special Development) and repealing Ordinance No. 018183. The penalty is as provided for in Chapter 20.24 of the El Paso City Code. Subject Property: 5713-5717 Welch Avenue. Property Owner: Jorge Valenzuela. PZRZ13-00037
District 3
El Paso City Council 07.29.14 Agenda Item 5.1: Zoning
An Ordinance changing the zoning of Lots 17 through 26, and a portion of Lots 27 through 32, Block 58, Cotton Addition, 1918 Texas Avenue, City of El Paso, El Paso County, Texas from M-1 (Manufacturing) to G-MU (General Mixed Use) and approving a Master Zoning Plan. The penalty is as provided for in Chapter 20.24 of the El Paso City Code. Subject Property: 1918 Texas Avenue. Property Owner: Young Women’s Christian Association of El Paso DBA YWCA El Paso Del Norte Region. PZRZ14-00022
District 8
El Paso City Council Agenda Item 11.1.1: Special Permit for Infill Development
An Ordinance granting Special Permit No. PZST14-00018, to allow for infill development with a reduction in rear setback and a 50% parking reduction on the property described as Lots 28-32, Block 39, Franklin Heights Addition, 1423 E. Missouri Avenue, City of El Paso, El Paso County, Texas, pursuant to Section 20.10.280 Infill Development of the El Paso City Code. The penalty being as provided for in Chapter 20.24 of the El Paso City Code. Subject Property: 1423 E. Missouri Avenue. Property Owner: Elmshire, LLC. PZST14-00018
District 8
El Paso City Council Agenda Item 9.2
The document discusses a recommendation for an exception to allow alcohol sales at a specific address. City Council has sole authority to grant exceptions for alcohol sales according to Title 20. Public input is sought on the recommendation to grant an alcohol sales exception for 6215 Upper Valley Rd.
El Paso City Council Agenda Item 9.1
Discussion and action on a request from Hector Cebada for City Council to grant an exception from the prohibition of the sale of alcoholic beverages within three hundred feet of a school for the property located at 2914 E. Paisano Dr.
District 8
El Paso City Council Agenda Item 8.7: Special Privilege License
An Ordinance Granting a Special Privilege License to Joseph Nebham for the Use, Maintenance, and Repair of Portions of City Right-of-Way Along Franklin Avenue Adjacent to the Property Located at 311 East Franklin Avenue, El Paso Texas.
District 8
El Paso City Council Agenda Item 8.5.1 & 8.5.2: Zoning & Special Permit
An Ordinance changing the zoning of the North 75 feet of Tract 228, Map of Sunrise Acres, 8707 Gateway South, City of El Paso, El Paso County, Texas from R-4 (Residential) to C-2 (Commercial). The penalty is as provided for in Chapter 20.24 of the El Paso City Code. Subject Property: 8707 Gateway South. Property Owner: Arturo de la Riva & Angelita de la Riva. PZRZ14-00012
District 2
An Ordinance granting Special Permit No. PZST14-00019, to allow for a contractor’s yard (small) on the property described as the North 75 feet of Tract 228, Map of Sunrise Acres, 8707 Gateway South, City of El Paso, El Paso County, Texas, pursuant to Section 20.04.320 of the El Paso City Code. The penalty being as provided for in Chapter 20.24 of the El Paso City Code. Subject Property: 8707 Gateway South. Property Owner: Arturo de la Riva & Angelita de la Riva. PZST14-00019
District 2
El Paso City Council Agenda Item 8.3: Special Permit
An Ordinance granting Special Permit No. PZST14-00002, to allow for infill development with a reduction in rear and cumulative yard setbacks, and to permit an assisted living facility for eight persons on the property described as a portion Lot 18, Block 6, Piedmont Hills Addition, Unit One, 4180 Berkshire Place, City of El Paso, El Paso County, Texas, pursuant to Section 20.10.280 Infill Development and 20.04.320 of the El Paso City Code. The penalty being as provided in Chapter 20.24 of the El Paso City Code. Subject Property: 4180 Berkshire Place. Property Owner: Little Dream Homes LLC. PZST14-00002
District 1
El Paso City Council Agenda Item 8.2: Zoning
The Planning Division recommended approval of rezoning the property from residential and apartment to commercial use, with the condition that the Alabama Street driveway design be approved by the Traffic Engineer. The CPC voted 7-0 to approve with the same condition. During the hearing, a public commenter expressed concerns about access to the adjacent residential street.
El Paso City Council Agenda Item 8.1: Special Permit
An Ordinance granting Special Permit No. PZST14-00010, to allow for Infill Development with reduced rear and side yard setbacks on the property described as Lots 9 and 10, Block 25, Alexander Addition, 1319 N. Oregon Street, City of El Paso, El Paso County, Texas, Pursuant to Section 20.10.280 Infill Development of the El Paso City Code. The penalty being as provided for in Chapter 20.24 of the El Paso City Code. Subject Property: 1319 N. Oregon Street. Property Owner: Hal Marcus. PZST14-00010
District 8
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El Paso City Council 09.09.14 Agenda Item 15.2: Osab Cement Lake Recommendation
El Paso City Council 09.09.14 Agenda Item 15.2: Osab Cement Lake Recommendation
El Paso City Council 09.09.14 Agenda Item 15.1: Resolution to approve Site De...
El Paso City Council 09.09.14 Agenda Item 15.1: Resolution to approve Site De...
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El Paso City Council 09.09.14 Agenda Item 10.1: Transitional Living Ordinance
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El Paso City Council 08.05.14 Agenda Item 7.1: Zoning
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El Paso City Council 08.05.14 Agenda Item 6.3: Zoning
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El Paso City Council 07.29.14 Agenda Item 5.1: Zoning
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Items 8B & 8C - 5000 Riley Ct
- 1. Infill Development Incentive Program Applicant: RNR Properties Property: 5000 Riley Ct.
- 2. Infill Development Incentive Program Infill Development Incentive Program (approved by City Council 08/24/10; program sunsets 08/31/15) • Intended to facilitate the reuse of vacant land, and vacant or blighted buildings • Available for commercial projects, multifamily and attainable single-family rental housing • Minimum investment of $50,000 for commercial projects _______________________________________________ Incentives available: • Property Tax exemption (5 years – based on investment level) • Construction fee waivers (up to $10,000) • Construction Materials Sales Tax Rebate
- 3. Why incentivize Infill Development? • • • • • • • Higher land costs Tax Liens Curb cuts ($42/sy) Water taps Sewer taps Water meter Street re-pavement ($26/sy) • Alley-way improvements • Sidewalk improvements (ADA Compliant) ($33/sy) • Additional landscape
- 4. Approved & Pending Infill Incentive projects Approved •4/10/12: 2308 Wheeling Ave; 4-plex rental housing •4/2/13: 540 S. Yarbrough Dr; 26-unit apartment complex •4/2/13: 2431 Yandell Dr., 79903; ft. office space •8/13/13 2413 Tremont Ave., 79930; 12unit apartment complex •11/5/13 5800 Woodrow Bean Transmountain Dr., 79924; dialysis clinic •11/5/13 1310 Murchison Dr., dialysis clinic •11/19/13 4301 E. Missouri; 17-unit apartment complex Pending •5000 Riley; 10 Unit Apartment Complex
- 5. Infill Development Incentive Program: 5000 Riley. Project description: • $800,000+ investment • 10,000 sq. ft. 10-unit apartment complex • 2013 CAD value: $56,204 (vacant land) Incentive Criteria met: Currently vacant land Located with an Enterprise Zone
- 6. Current condition of property: 5000 Riley Ct.
- 7. Proposed use: 10-unit apartment complex 5000 Riley Ct.
- 8. Proposed incentives per Infill Development Incentive Policy 5000 Riley Ct.: 1. Eligible tax exemption per policy: Minimum Investment $800,000 Year 1 Year 2 Year 3 Year 4 Year 5 100% 100% 75% 50% 2. Eligible for Construction Materials Sales Tax Rebate •100% rebate of City’s portion of sales tax 3. Building Construction Fee Waivers •Fees associated with construction, redevelopment and infill development waived up to $10,000 25%
- 9. Proposed incentives per Infill Development Incentive Policy 5000 Riley Ct.: Year 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Totals Value Without Improvements (3% Inflator) $ 56,204.00 $ 57,890.12 $ 59,626.82 $ 61,415.63 $ 63,258.10 $ 65,155.84 $ 67,110.52 $ 69,123.83 $ 71,197.55 $ 73,333.47 City's Portion W/O Improvements $ 381.28 $ 392.71 $ 404.50 $ 416.63 $ 429.13 $ 442.00 $ 455.26 $ 468.92 $ 482.99 $ 497.48 $ 4,370.90 Projected New Appraised Value $ 876,204.00 $ 902,490.12 $ 929,564.82 $ 957,451.77 $ 986,175.32 $ 1,015,760.58 $ 1,046,233.40 $ 1,077,620.40 $ 1,109,949.01 $ 1,143,247.48 City Tax after Construction $ 5,943.98 $ 6,122.29 $ 6,305.96 $ 6,495.14 $ 6,690.00 $ 6,890.70 $ 7,097.42 $ 7,310.34 $ 7,529.65 $ 7,755.54 $ 68,141.01 Projected Abatement Amount $ $ $ $ $ 6,122.29 6,305.96 4,871.35 3,345.00 1,722.68 $ 22,367.28
- 10. Construction Job Impact Impact Type Employment Labor Income Total Value Added Output Direct Effect 5.5 $322,672.40 $422,584.70 $820,032.80 Indirect Effect 2.1 $72,340.40 $132,213.80 $261,102.20 Induced Effect 2.2 $74,621.50 $159,776.60 $272,480.50 Total Effect 9.8 $469,634.30 $714,575.20 $1,353,615.50 IMPLAN Estimates, City Development