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Project Flint - October 2015 - Option C
<br />Machinery Phase 1 $ 20,000,000
<br />Real Estate Phase 2 $ 8,000,000
<br />017
<br />Machinery Phase 1
<br />Est. Tax Value
<br />Rate
<br />Total tax pmt.
<br />Incentive
<br />Fiscal year
<br />90% _
<br />$
<br />18,000,000
<br />x
<br />0.00795
<br />$ 143,100.00
<br />x
<br />60%
<br />$ 85,860.00
<br />16-17
<br />81% _
<br />$
<br />16,200,000
<br />x
<br />0.00795
<br />$ 128,790.00
<br />x
<br />60%
<br />$ 77,274.00
<br />17-18
<br />74% _
<br />$
<br />14,800,000
<br />x
<br />0.00795
<br />$ 117,660.00
<br />x
<br />60%
<br />$ 70,596.00
<br />18-19
<br />65% _
<br />$
<br />13,000,000
<br />x
<br />0.00795
<br />$ 103,350.00
<br />x
<br />60%
<br />$ 62,010.00
<br />19-20
<br />56% _
<br />$
<br />11,200,000
<br />x
<br />0.00795
<br />$ 89,040.00
<br />x
<br />60%
<br />$ 53,424.00
<br />20-21
<br />Subtotal
<br />$ 349,164.00
<br />Real Estate
<br />Est. Tax Value
<br />Rate
<br />Total tax pmt.
<br />Incentive
<br />Fiscal year
<br />95% _
<br />$
<br />7,600,000
<br />x
<br />0.00795
<br />$ 60,420.00
<br />x
<br />60%
<br />$ 36,252.00
<br />17-18
<br />95% _
<br />$
<br />7,600,000
<br />x
<br />0.00795
<br />$ 60,420.00
<br />x
<br />60%
<br />$ 36,252.00
<br />18-19
<br />95% _
<br />$
<br />7,600,000
<br />x
<br />0.00795
<br />$ 60,420.00
<br />x
<br />60%
<br />$ 36,252.00
<br />19-20
<br />95% =
<br />$
<br />7,600,000
<br />x
<br />0.00795
<br />$ 60,420.00
<br />x
<br />60%
<br />$ 36,252.00
<br />20-21
<br />95% =
<br />$
<br />7,600,000
<br />x
<br />0.00795
<br />$ 60,420.00
<br />x
<br />60%
<br />$ 36,252.00
<br />21-22
<br />Subtotal
<br />$ 181,260.00
<br />Grand Total
<br />$ 530,424.00
<br />Proposed payout schedules
<br />Estimated tax collections
<br />5 year
<br />6 year
<br />2016/17
<br />$ 106,084.80 $
<br />88,404.00
<br />$ 143,100.00
<br />2017/18
<br />$ 106,084.80 $
<br />88,404.00
<br />$ 189,210.00
<br />2018/19
<br />$ 106,084.80 $
<br />88,404.00
<br />$ 178,080.00
<br />2019/20
<br />$ 106,084.80 $
<br />88,404.00
<br />$ 163,770.00
<br />2020/21
<br />$ 106,084.80 $
<br />88,404.00
<br />$ 149,460.00
<br />2021/22
<br />0 $
<br />88,404.00
<br />$ 60,420.00
<br />Total $
<br />530,424.00
<br />$ 884,040.00
<br />
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