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1 <br />2 Proposed County Participation <br />3 Lesser of 50% of the actual tax increment or 50% of the actual Debt Service on the $10 million <br />4 of public Improvements <br />5 Subject to annual appropriation based on Town progress report on project performance <br />6 Maximum Annual Payment would be about $400, 000 <br />7 <br />8 Annual Reporting <br />9 The Town will provide the County with an annual project performance report during the <br />10 budget cycle that will include: <br />11 ■ Additions to Tax Base <br />12 ■ Public improvement status <br />13 ■ Private improvement status <br />14 ■ Economic impact analysis <br />15 <br />16 Projected County Tax Increment (Bar Graph) <br />17 <br />18 20 Year Cost Benefit Comparison (Graph) <br />19 Cumulative Debt Service & Town Property Tax Increment plus County Contribution <br />20 <br />21 School Generation Numbers <br />22 Difference Between Town and County Student Growth numbers: <br />23 ■ Based on available (2007) Student Generation factors for CHCCS for multi - family <br />24 Housing units Town calculated 105 new students for 1,495 units <br />25 ■ County estimated 450 new students based on over -all student generation rates (all <br />26 housing types) <br />27 2007 Student Generation Numbers (Bar Graph) <br />28 <br />29 2014 Student Generation Numbers* <br />30 New Student Generation Rates <br />31 ■ Broken out by Sub -Areas (Chapel Hill & ETJ) <br />32 ■ Separate factors for number of bedrooms <br />33 - Multifamily: 0 -2 bedrooms, 3+ Bedrooms & Average) <br />34 ■ Based on market demand we believe that student generation for Ephesus Fordham <br />35 Development will be mostly 1 -2 bedroom multi - family units <br />36 <br />37 2014 Student Generation Numbers* (Graph) <br />38 (Chapel Hill and ETJ) <br />39 <br />40 Village Plaza Apartments <br />41 1st Ephesus Fordham Development Application <br />42 ■ 266 Multi - Family Housing Units (1 -2 bedrooms) <br />43 ■ 15,600 Square Feet of new retail <br />44 ■ Population Estimate: 505 new residents <br />45 Village Plaza Apartments <br />46 Preliminary Revenues Estimates <br />Revenue <br />Town <br />County <br />Schools <br />Property Tax <br />$354,900 <br />$594,675 <br />$141,200 <br />Sales Tax <br />31,100 <br />75,381 <br />0 <br />Impact Fees (one -time) <br />0 <br />0 <br />342,076 <br />