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� �. �- �� <br /> B. EstimateAgencyRevenue <br /> Per the terms of the DDA, the Developer will pay $7,500,000 for the sir rights to develop the . <br /> Project. <br /> Developer Consideration $7,500,000 <br /> The City has con�ol over the pricing used in the pazking garage. The amount of parldng income is <br /> dependent on both parldng rates, wtuch aze set as a matter of public policy, as well as what the <br /> public is willing to pay for downtown parldng. For the piuposes of this analysis, no income is ' <br /> shown. <br /> The Project is located within the Redwood City Redevelopment Project Area #2. As a result, the <br /> Agency can receive pmperiy tax increment from the Project unti12038 based on the increased <br /> valuation in the Project Area. The Project is expected to generate the following tax increment <br /> revenue to the Agency: <br /> Present Valae <br /> Throueh 2038��� <br /> Gross Tax Increment (Pl� $10,073,000 <br /> (Less) Housing Set-Aside Funds (P� (2,139,000) <br /> (Less) Pass Through Agreements (P� 3 613 000 <br /> PV of Net Tax Increment Revenue $4,120,000 <br /> p) Revrnueezpreseedonanttpaeentvaluebatis,basedona5%disemm[rare. <br /> Therefore total Agency revenues from the Project can be sn**+marized as follows: <br /> Estimated <br /> Developer Consideration $ 7,500,000 <br /> PV of Total Net Tax Increment Revenue 4,120,000' <br /> Total Agency Revenues $11,620,000 <br /> Keyser Marston Associates, Ine. <br /> 18670.001 \017-022.doc, '11252002 page g <br />