Res 2011-150 - Laserfiche WebLink

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EXHIBIT C Project Overview and Project Costs This Table 1 summarizes the currently anticipated Project Costs to be financed within Zone No. 5 3% av increase with 70% contribution Year Assessed Value Tax AV increment City of San Marcos Revenue Share Hays County Revenue Share Cumulative 2011 105,712.363 Tax Rate Annual Tax Rate Annual "Total 2012 108,883,734 3,171.371 0.37114 5 11,770 4,29736 4 9,434 4 21,201 2013 112,150,246 6,437,883 037114 $ 23,894 4.29736 4 19,144 $ 43,437 2014 115.514,753 9,802.390 0,37114 S 36,381 019736 S 29,148 $ 45,529 2015 118,984,196 13,267,833 4,37114 $ 44,242 0,29736 $ 39,453 $ 88,695 2016 122,549.642 16,837,239 437114 $ 62,490 4.29734 $ 50,067 $ 112,5S7 S 1s3,776 147,243 4 331,419 Assumptions: 70 City Contribution ($0.530: *3- 4437114) 70% County Contribution )$4.4248 *.7 = $0.29736) 3% increase per year after 2011 1. Redevelopment of Hays County "Justice Center" Property If Hays County issues a request for qualifications, request for proposals or other similar vehicles in order to secure a public - private partnership approach or other disposition for the redevelopment or adaptive reuse of the "Justice Center" property, then tax increment revenues of the proposed Zone No. 5 shall be made available for infrastructure or other improvements allowed by law up to the amount collected by the TIRZ by capturing increment for 5 years for reimbursement of expenditures in infrastructure or other improvements by the successful entity or consortium in connection with the disposition of the "Justice Center" Property. Reimbursements shall be based on project investments that meet the priority policies delineated in the Executive Summary in coordination with Hays County. 2. Infrastructure supporting cohesive redevelopment Proposed Zone No. 5 tax increment revenues not used for the disposition of the "Justice Center" through the process described in Project No. 1 above shall be made available to facilitate investment in infrastructure or other improvements allowed by law that facilitate the following: a. Redevelopment projects adjacent to the Texas State Campus, providing improved usage of underutilized properties and better transitions between the campus and downtown. b. Redevelopment adjacent to Transit Oriented Development (TOD) associated with the area identified as potential future rail station by the Lone Star Rail District. C. Redevelopment or other projects that provide cohesive and sustainable development advancing the Downtown Master Plan and /or that improves the better linkages among the River, the future TOD /rail station area, the Square and the Texas State Campus.