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Mary Beth Wiseman Annexation Area 8 <br />SECTION IV. FISCAL IMPACT <br />1) Essential city services can be made available to the residents (and territory) of the Annexation Area in a timely and <br />comparable fashion per the requirements 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 accordance with the <br />standards of the City of South Bend. <br />4) Required improvements made by the City will be completed within the time frames provide by State law and this <br />fiscal plan. <br />The City has extend sewer and water mains to the Annexation Area under a previous annexation <br />project. Sewer and water mains are available and contiguous to the site. <br />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 />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 />Department expenditures and revenues are derived from the City of South Bend Budget. <br />