Fiscal Plan for Ironwood Plaza North Annexation Area in Clay Township (2391-96)

Home Browse Search

Ironwood North Annexation Area - Fiscal Plan 9 SECTION IV. FISCAL IMPACT The cost of providing city services to the Annexation Area can be absorbed by Department budgets. The cost to install a lift station and extend sewer lines in the vicinity of Vaness Street and State Road# 23, as described in Section III, will be paid for out of sewer revenue 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 1994 payable 1995 City/Town Rate, minus State tax Credit. 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 , 1996. Capital & Non - Capital Expenditures (est.) Revenue (est.) 1996 -1999 Year 1 x Yrs Extension Lift Station / Sewer $200,000 Water $0.00 Police $0.00 Fire $0.00 Code $0.00 Sanitation $0.00 Property Tax $150,484 3 $451,452 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 1994 payable 1995 City/Town Rate, minus State tax Credit. 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 , 1996.