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IV. EXA.MPLES OF APPLICATIOn' OF THE GRANT PROGRAM
<br />
<br />industry XYZ buys a prope.~.' that is currently paying annual property, taxes to the county in the
<br />amotmt of'$ 5,000 per year.
<br />
<br />Level I ~ant (based on a $ 5,000,000 qualifying investment at a 75% grant)
<br />
<br />Year I - property, taxes paid
<br />Year 2 - proper'c7 taxes paid
<br />Year 3 - property, taxes pazd
<br />Year 4 - propers.' taxes paid
<br />"(ear 5 - property taxes paid
<br />Year 6 - property, taxes paid
<br />
<br />5,000
<br />33,250
<br />33.250
<br />33,250
<br />33,250
<br />33,250
<br />
<br />with an ID[ Grant ors 21,188
<br />with an IDI Grant ors 21,188
<br />with an ID[ Grant ors 21,188
<br />with an IDI Grant ors 21,188
<br />with an IDI Grant ors 21,188
<br />
<br />Year 7 - property taxes paid = $ 33,250 IDI Grant ceases
<br />The IDI Grant would equal $ 105,940 at the current tax rate orS .565/5100.
<br />Effective zv. nual proper'fi, tax pa?nents equal $ 5,000 year 1 and $12,062 in years 2-6.
<br />
<br />Level il g.-znt (based on $ 20,000,000 qualiN.'ing investment at a 80% ~mant)
<br />
<br />Year I -
<br />Year 2 - property
<br />Year 3 - property
<br />Year 4 - groper'q,.'
<br />Yeaz 5 -propercy
<br />Year 6 - properg,,.'
<br />
<br />taxes paxd = S
<br />taxes pard = S
<br />taxes paid = S
<br />taxes paid = S
<br />taxes pard --- $
<br />taxes paid = $
<br />
<br /> 5,000
<br />118,000
<br />118,000
<br />I18,000
<br />I18,000
<br />tiP,000
<br />
<br />~,5th an IDI Grant ors 90,400
<br />with an IDI Grant ors 90,400
<br />with an IDI Grant ors 90,400
<br />with an IDI Grant ors 90,400
<br />with an ID[ Grant ors 90,400
<br />
<br />"(ear 7 - properq,.' taxes paid = $ I 18,000 tDI Grant ceases
<br />The iD[ Cr~t would equal $ 452.000 at the current tax rate ors .565/5100.
<br />Effective a~-mua[ proper'q,.' equal $ 5,000 year I and $ 27,600 in years 2-6.
<br />
<br />Level III grant (based on $ 100,000,000 qualif',.'ing investment at a 85% grant)
<br />
<br />Year 1 - propea'y
<br />Year 2 - proper'q:'
<br />Year 3 - property.
<br />Year 4 - property
<br />Year 5 - property
<br />"(ear 6 - proper'q,.'
<br />
<br />taxes paid
<br />taxes paid
<br />taxes paid
<br />taxes pmd
<br />taxes paid
<br />taxes paid
<br />
<br /> 5,000
<br />570,000
<br />570,000
<br />570,000
<br />570,000
<br />570,000
<br />
<br />with an IDI Grant of $ 480,250
<br />with an IDI Grant ors 480,250
<br />with an ID! Grant ors 480,250
<br />with an 1D1 Grant of $ 480,250
<br />with an [DI Grant ors 480,250
<br />
<br />Year 7 - propertT taxes paid = $ 570,000 IDI Grant ceases
<br />The ID! Grant would equal $ 2,401,250 at the current tax rate of $ .565/5100.
<br />Effective ,_rmual prope:xy tax payments equal $ 5,000 year 1 and $ 89,750 in years 2-6.
<br />
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