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IV. EXA:'~IPLES OF APPLICATION OF THE GRANT PROGRAi~I <br /> <br />Industry XYZ buys a property that is currently paying annual property taxes to the county in the <br />amount ors 5,000 per year. <br /> <br />· Level I grant (based on a $ 5,000,000 quaIifying investment at a 75% grant) <br /> <br />Year I - property taxes <br />Year 2 - property, taxes <br />Year 3 - property taxes <br />Year 4 - property taxes <br />Year 5 - property taxes <br />Year 6 - property taxes <br /> <br />paid =$ 5,000 <br />paid = $ 33,250 with an [Dr Grant ors 21, 188 <br />paid = $ 33,250 with an [DI Grant ors 2[,188 <br />paid = $ 33,250 with an iD[ Grant ors 21,188 ' <br />paid = $ 33,250 with an ID[ Grant ors 21,188 <br />paid = $ 33,250 with an ID[ Grant of'$ 21,188 <br /> <br />Year 7 - property taxes paid = $ 33,250 ID[ Grant ceases <br />The IDI Grant would equal $105,940 at the current tax rate of $ .565/5100. <br />Effective annual property tax payments equal $ 5,000 year I and $12,062 in years 2-6. <br /> <br />· Level [I grant (based on $ 20,000,000 qualifying investment at a 80% ~ant) <br /> <br />Year I - property taxes <br />Year 2 - property taxes <br />Year 3 - property, taxes <br />Year 4 - property taxes <br />Year 5 - property taxes <br />Year 6 - property taxes <br /> <br />paid = S 5,000 <br />paid = $ 118,000 with an ID[ Grant ors 90,400 <br />paid = $ 118,000 with an D[ Grant o£$ 90,400 <br />paid = $ l 18,000 with an [DI Grant ors 90,400 <br />paid = $ 118,000 with an IDI Grant ors 90,400 <br />paid = $ 118,000 with an IDI Grant ors 90,400 <br /> <br />"fear 7 - property taxes paid = $ 118,000 ID[ Grant ceases <br />The iD[ Grant would equal $ 452.000 at the current tax rate ors .565/5100. <br />Effective armual propervy equal $ 5,000 year I and $ 27,600 in years 2-6. <br /> <br />· Level 1II grant (based on $ 100,000,000 qualifying investment at a 85% gran0 <br /> <br />Year t - property taxes paid = $ 5,000 <br />Year 2 - property taxes paid = $ 570,000 with an [Dr Grant ors 480,250 <br />Year 3 - property t&xes paid = $ 570,000 with an ID£ Grant ors 480,250 <br />Year 4 - property taxes paid = $ 570,000 with an ID[ Grant ors 480,250 : <br />Year 5 - property taxes paid = $ 570,000 with an [Df Grant ors 480,250 <br />Year 6 - property' taxes paid. = $ 570,000 with an [DJ Grant ors 480,250 <br />Year 7 - property taxes paid = $ 570,000 ID[ Grant ceases <br />The [Df Grant would equal $ 2,401,250 at the current tax rate ors .565/$100. <br />Effective annual property ta~'gayments equal $'5,000 year 1 and $ 89,750 inyears 2-6. <br /> <br /> <br />