Fiscal Plan for EMRO/NDCU Annexation Area in Centre & Penn Townships

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EMRO I NDCUAnnexation Area -Fiscal Plan SECTION IV. FISCAL IMPACT The cost of providing city services to the Annexation Area can be absorbed by Department budgets. The cost to install street lighting will be paid for out of sources available for capital expenditures. Summary Table - Fiscal Impact All figures are estimates. Final cost of capital expenditures will not be determined until bids are publicly solicited and contracts awarded. Property tax is based on 1995 payable 1996 estimated tax receipts if the Annexation Area was already in the City. Tax rates are subject to change every year. SECTION V. APPROVAL Approved by the City of South Bend Common Council this day of 1997. Capital & Non - Capital Expenditures (est.) Revenue (est.) 1996 -1999 Year 1 x Yrs Extension Lift Station / Sewer $0.00 Water $0.00 Street Lights $5,000.00 Police $0.00 Fire $0.00 Code $0.00 Sanitation $0.00 Property Tax (est.) $24,300 3 $72,900 TOTALS $5,000.00 $72,900.00 All figures are estimates. Final cost of capital expenditures will not be determined until bids are publicly solicited and contracts awarded. Property tax is based on 1995 payable 1996 estimated tax receipts if the Annexation Area was already in the City. Tax rates are subject to change every year. SECTION V. APPROVAL Approved by the City of South Bend Common Council this day of 1997.