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AG 2003 03 17
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AG 2003 03 17
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Last modified
3/3/2006 9:37:29 AM
Creation date
11/27/2017 11:40:30 AM
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Template:
Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
3/17/2003
Board
Board of Commissioners
Meeting Type
Regular
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Calculation of Grant Due Owl <br />Based upon the 2001 Industri <br />(1st of 3 Years, Personal <br /> <br />Base Year 2000 (Eligible Assets inst: <br />2001 Personal Property' <br /> <br />Class of Installed <br /> Costs <br /> <br />~s Corning Company <br />Incentive Grant <br /> <br />Taxable <br />Value <br /> <br />M&E $ 50,348.558 A-12 32.597,547 <br />LHI 1,515,921 N-20 1,535,125 <br />F&F 166.391 K-10 49,282 <br /> 52,130,868 34,181,954 <br /> <br />Page 2 <br /> <br />County <br />Assessed, <br />Value <br /> <br />Add: Supplies & taxable inventory <br /> <br />Eligible For Ince'nbve Grant <br /> <br />Level I, 75% Grant; 25% Net to Co~ <br />Net, Grant Value <br />Reconclhn9 Value (25/35% of 597 <br />Nei;, Value to County/City <br /> <br />Grant Value <br />Times tax rata(a) County/City <br />Grants Due <br /> <br />~0te (1)The grant excludes motor <br /> <br /> 883,488 <br /> <br />~1) <br /> <br /> $ <br /> <br /> 25% <br /> <br /> $ 149 <br /> 8,915,856 <br /> <br /> 26,149,586.57 <br /> 0.56 <br />~'~ 146 <br /> <br />& rolling stock. (2)Qualif~ng bu~idinga, machine~ and <br /> <br />e~u~pmen~, & other personal ~operty <br />leased building was built !n 1998 and <br />three years for personal pro~er~ <br />m~llion, 75% County. Syr r e, 3yr. pc, <br />$100 million. <br />The gramee reposed a balance ~n CIP <br />in ~heir assessed value To avoid cree <br />having {o pay a grant on th~s value m a <br />~alculated the net ~axes the Count~ am <br />D~lled and what' should nave been <br />would retain 25% of the ~llecl value of, <br />($8,766,361+$149,495). The C~ woul <br />($12,272,905+$209,293). The Grants <br />by the Co~n~ and the CIt.! <br /> <br />for and ~nstalled after 8/30/99 are grant eligible. The <br />qualtf7 for grant consideration. (3)Grant is effective for <br />ye grant cetegones (minimum total prolect value); Level 1. $5 <br />,% Concord..4 y~. r.e., 3 ~. Dp.; Level 2, $50 million; Level 3. <br /> <br />the 2001 abstract, howeve., me CIP balance was not included <br />g an add~bonal b~ll in 2003 for ~e omittect 2001 CIP value and <br />~b~e¢luent year (presumably when taxes would be paid), we <br />~ty would have ~et'a~ne0 af~ pa~ng out the gran[ on what wes <br />[the 2001 CIP value of $597,981). You w~ll notice the County <br />t5,065,4.~2 plus 25% of ~e CIP balance ~t [ailed to b~ll <br />~'etam 35% of ire i3~lled value and the CIP balance it fa~led to oill <br />~lect ~e levy collected Jess {he porllon w~,~ch snoul(I be re(aJned <br /> <br /> ',cludes Rag, Bill & Discovery B~II <br />2002-1228 & 2001-83175 <br /> 85% Grant; 35% Net to Concord <br />:Ne~, Value to Concord <br /> <br /> <br />
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