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Fiscal Plan for Auten Connector Annexation Area Phase II German Township
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Fiscal Plan for Auten Connector Annexation Area Phase II German Township
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Last modified
7/10/2008 3:20:25 PM
Creation date
7/10/2008 3:20:25 PM
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Template:
City Council - City Clerk
City Council - Document Type
Resolutions
City Counci - Date
6/23/2008
Ord-Res Number
3877-08
Bill Number
08-57
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Auten Connector Annexation Area 10 <br />SECTION V. FISCAL IMPACT <br />1) Essential city services can be made available to the residents (and territory) of the <br />Annexation Area in a timely and comparable fashion per the requirements of State <br />law and this fiscal plan. <br />2) The City is financially able to support city services to the territory sought to be <br />annexed. <br />3) Required improvements made by the petitioner and/or owner of the parcels must <br />be made in accordance with the standards of the City of South Bend. <br />4) Required improvements made by the City will be completed within the time frames <br />provide by State law and this fiscal plan. <br />5) All figures are estimates. Final cost of capital expenditures, if any, will not be <br />determined until bids are publicly solicited, contracts are awarded and projects are <br />closed out. <br />6) Property tax revenue and land assessment estimates are based on a combination <br />of: 2007 payable 2008 tax rates, taxes paid in previous years by a comparable <br />development, estimates of units built, estimates of unit values and land assessments, <br />and tax abatements or adjustments, if any. Tax rates are subject to change every <br />year. <br />7) Department expenditures and revenues are derived from the City of South Bend <br />Budget. <br />8) The estimated costs to provide services, noted in Section III, Municipal Services, is <br />a City-wide average based on a particular budget year. In the case of the proposed <br />development in the Annexation Area, some of these services will not be required or <br />possibly requested for many years. Hence, the cost of providing services over the first <br />five should be evaluated with this in mind. <br />
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