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<br />I <br /> <br />I <br /> <br />I <br /> <br />Expected Sources of Revenue to Finance or Pay Project Costs <br /> <br />Schedule A shows the build-out schedule of the proposed residential <br />development as projected by the Developer, which is supported by the Economic <br />Feasibility Studies attached as Appendix B <br /> <br />Table D <br />Increment Dedicated to the Zone <br /> <br />Taxing Dedicated <br />Unit Tax Rate Years <br />San Marcos. (2005 - 2035) $04710/$100 Valuation 30 <br />Hays County (2005 - 2035) $03751/$100 Valuation 30 <br />· San Marcos may use its contributed tax increment funds for municipal zone related project costs in order to <br />implement the Zone's Project Plan and Reinvestment Zone Financing Plan. <br /> <br />Tax Increment Fund <br /> <br />The City shall create and establish a Tax Increment Fund for the Zone, which <br />may be divided into sub-accounts as provided for in the ordinance creating the zone <br />The Tax Increment Fund and each account shall be maintained at the depository bank <br />of the City of San Marcos and shall be secured in the manner prescribed by law for <br />funds of Texas cities The annual Tax Increment shall equal the property taxes levied <br />by the City or any other taxing unit participating in the Zone for that year on the captured <br />appraised value, as defined by the State Tax Increment Act (the "Act"), of real property <br />located in the Zone that is taxable by the City or any other taxing unit participating in the <br />Zone, less any amounts that are to be allocated from the Tax Increment pursuant to the <br />Act. <br /> <br />Part 6. THE ESTIMATED CAPTURED APPRAISED VALUE OF THE ZONE DURING <br />EACH YEAR OF ITS EXISTENCE <br /> <br />It is projected by the Developer that taxable property values in the Zone will <br />increase to approximately $260 million by 2013. Schedule A shows the annual <br />captured appraised value of these increases in property value during the build-out <br />period. <br /> <br />Part 7. DURATION OF THE ZONE <br /> <br />The City of San Marcos shall establish the Zone by Ordinance. The ordinance <br />shall establish that the Zone will take effect on January 1, 2005 and termination of the <br />operation of the Zone shall occur on December 31,2035 The Zone may terminate at an <br />earlier time designated by subsequent ordinance, or at such time, subsequent to the <br />issuance of proposed revenue bonds, notes or other obligations, if any, that all project <br />costs, bonds, and interest on bonds have been paid in full <br /> <br />Page 8 of27 of Exhibit C <br /> <br />8 <br /> <br />1/31/05 <br />