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Salah & Cynthia Hilal H Annexation Area 9 <br />SECTION IV. FISCAL IMPACT <br />1) Essential city services can be made available to the residents (and territory) of the Annexation <br />Area in a timely and comparable fashion per the repirements of State law and this -fiscal plan. <br />2) The City is financially able to support city services to the territory sought to be annexed. <br />3) Required improvements made by the petitioner and/or owner of the parcels must be made in <br />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 provide by <br />State law and this fiscal plan. <br />5) All figures are estimates. Final cost of capital expenditures, if any, will not be determined until <br />bids are publicly solicited, contracts are awarded and projects are closed out. <br />6) Property tax revenue estimates are based on 2001 payable 2002 tax rates, taxes paid in previous <br />years by a comparable development, estimates of units built, and no tax abatements or <br />adjustments. Tax rates are subject to change every year. <br />7) Department expenditures and revenues are derived from the City of South Bend Budget. <br />8) The estimated costs to provide services, noted in Section III, Municipal Services, is a City -wide <br />average based on a particular budget year. In the case of the proposed development in the <br />Annexation Area, some of these services will not be required or possibly requested for many <br />years. Hence, the cost of providing services is largely reduced, and the costs reflected in this fiscal <br />impact should be evaluated with this in mind. <br />Filed in Clerk °s 0 fice <br />=1� <br />LORMA J. DUDA <br />CTYCLERK, 9O. BEND, IRl <br />