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Project Name: Hercules - $50M -"of <br /> Cabarrus County Economic Development Grant Analysis C A B A R R U S <br /> Year 1 Year 2 Year 3 Year 4 Year 5 <br /> Total Assessed Value $50,000,000.00 $50,000,000.00 $50,000,000.00 $50,000,000.00 $50,000,000.00 <br /> County taxes at .70 $ 350,000.00 $ 350,000.00 $ 350,000.00 $ 350,000.00 $ 350,000.00 <br /> Grant @ 85 % $ 297,500.00 $ 297,500.00 $ 297,500.00 $ 297,500.00 $ 297,500.00 <br /> Net Taxes to County $ 52,500.00 $ 52,500.00 $ 52,500.00 $ 52,500.00 $ 52,500.00 <br /> 5 year taxes $ 1,750,000.00 <br /> This document is for calculation purposes only. The numbers computed <br /> here are estimated based on general assumptions provided by the client, 5 year grant $ 1,487,500.00 <br /> the Cabarrus County Tax office and the North Carolina Dept of Revenue. <br /> Actual grants may vary 5 yr. net revenue $ 262,500.00 <br /> Note;Grants Subject to Cabarrus Economic Development Board <br /> approval&governmental body approval, <br /> Attachment number 1 \n <br /> F-8 Page 146 <br />