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PSA - H.J. Umbaugh & Assoc - Circuit Breaker Property Tax Revenue Analysis
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PSA - H.J. Umbaugh & Assoc - Circuit Breaker Property Tax Revenue Analysis
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3/31/2025 9:38:55 AM
Creation date
6/28/2017 2:34:28 PM
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Board of Public Works
Document Type
Contracts
Document Date
6/27/2017
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Exhibit A <br />Services Provided <br />Scope of Services <br />Below are the proposed scope of services the Firm will provide to the Client related to a Circuit Breaker <br />Analysis. The scope of services below will be limited to the following Allocation Areas of the <br />Redevelopment Commission and Funds of the City, as directed by the Client. <br />Allocation Areas <br />• River West (Airport) TIF District <br />+► West Washington TIF District <br />• River East (Northeast) TIF District <br />• Southside TIF District #1 <br />• River East (NE Residential) TIF <br />City Funds <br />• General Fund <br />• Parks & Recreation <br />• College Football Hall of Fame <br />• Cumulative Capital Development <br />1. As warranted to provide a framework, the Firm will prepare a brief summary of the history of the <br />Circuit Breaker, how it functions in Indiana, and the drivers involved that influence the level of <br />Circuit Breaker credits generated. <br />2. The Firm will obtain historical data related to the Client. Such data will include historical <br />budgets, levies, tax rates, financial results of the Client and level of Circuit Breaker impacts. <br />3. The Firm will obtain from the Client current budget information, as well as prospective <br />information, on any anticipated changes in operational, capital or debt service requirements over <br />the next five years. <br />4. The Firm will obtain information, as available, related to any significant changes in anticipated <br />levies for overlapping taxing units that the Client shares tax base. <br />5. Based on information gathered, the Firm will develop assumptions related to estimated changes <br />over the next five years in tax base, tax levies and tax credits and discuss with the Client for <br />consensus. <br />6. The Firm will then provide a summary of assumptions to Policy Analytics and work with Policy <br />Analytics to generate a parcel -by -parcel analysis of the estimated Circuit Breaker credits related <br />to the Client over the next five years. <br />7. The Firm will analyze the results of the parcel -by -parcel calculation from Policy Analytics and <br />develop a report reflecting the estimated levies, Circuit Breaker credits and net levies for the <br />Client through budget year 2021. <br />8. The Firm will rneet with the Client as needed to present the results of the analysis and answer <br />questions. <br />
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