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Orange County: Buckhorn Village <br />average occupancy of 70%, Orange County would receive $91,980 in net new lodging fees. This <br />calculation will change if the lodging tax is increased from 2% to 3% as proposed. <br />Lodging Tag Analysis <br />Rooms in 2 Average Projected Room Lodging Tag Estimated <br />New Hotels Daily Room Occupancy Revenue Rate Tag Revenue <br /> Rate <br />200 $90 70% $4,599,000 2% $91,980 <br />Source: Calculated from Buckhorn Road Associates, LLC Survey and East West Partners Information <br />dZetail Sales ~'ax Analysis <br />The largest fiscal impact to Orange County from Buckhorn. Village will be in new retail <br />sales tax revenue. In fact, retail sales taxes could equal more than four times the net new property <br />tax revenue. The consulting team conducted an analysis of projected retail sales tax revenue <br />based on information gathered in the Buckhorn Road Associates, LLC retail survey and <br />information from East West Partners. <br />North Carolina levies a 4.5% retail sales tax and counties can levy a 2.5% retail sales tax <br />which is returned to the county and shared with municipalities. Tax revenue is shared on a per <br />capita or ad valorem proportional basis. A few counties have additional levies such as a public <br />transportation levy in Mecklenburg County. Orange County's local sales tax rate is 2.5%. <br />Retail Sales Tag Analysis <br /> SF Estimated Projected Local Estimated <br /> Sales Per SF Total Sales Sales Tag Tag Revenue <br /> Volume Rate <br />Anchor/Destination 165,000 $400 $66,000,000 2.5% $1,650,000 <br />Retail <br />Other RetaiU 859,000 $200 $171,800,000 2.5% $4,295,000 <br />Restaurant <br />Hotel Food and 120,000 $0.83 $100,000 2.5% $2,500 <br />Bevera e <br />Total Projected Retail $237,900,000 <br />Sanford Holshouser 10 <br />