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Project Phase II CABP, Spec Building (Project Toby) <br />Cabarrus County Economic Development GrantAna /ysis <br />-i f <br />CABA RRUS <br />Note: Grants Subject to Cabarrus Economic Development Board <br />approval & governmental body approval. <br />Attachment number 2 <br />G -1 Page 137 <br />Year 1 <br />Year 2 <br />Year 3 <br />Yea r 4 <br />Total Assessed Value <br />$7,000,000.00 <br />$7,000,000.00 <br />$7,000,000.00 <br />$7,000,000.00 <br />County taxes at .70 <br />$ 49,000.00 <br />$ 49,000.00 <br />$ 49,000.00 <br />$ 49,000.00 <br />Grant @ 85 % <br />$ 41,650.00 <br />$ 41,650.00 <br />$ 41,650.00 <br />Net Taxes to County <br />$ 7,350.00 <br />$ 7,350.00 <br />$ 7,350.00 <br />$ 49,000.00 <br />This document is for calculation purposes only. The numbers computed <br />here are estimated based on general assumptions provided by the client, <br />the Cabarrus County Tax office and the North Carolina Dept of Revenue. <br />Actual grants may vary <br />3 year taxes <br />$ 147,000.00 <br />3 year grant <br />$ 124,950.00 <br />1 3 yr. net revenue <br />$ 22,050.00 <br />Note: Grants Subject to Cabarrus Economic Development Board <br />approval & governmental body approval. <br />Attachment number 2 <br />G -1 Page 137 <br />