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ry MEMO - Intergovernmental Work Group on Alternative Revenues <br /> February 01, 1989 <br /> Page '5 <br /> Tax revenues generated by a theoretical $1 .00 per square foot <br /> of commercial space resulted in the following: <br /> COMMERCIAL CONSTRUCTION FEE <br /> PLACE C $1 .00/SQ.__FT. <br /> CARRBORO $ 66,000 <br /> CHAPEL HILL 185,000 <br /> HILLSBOROUGH 22,000 <br /> ORANGE COUNTY 33,000 <br /> TOTAL $284,000 <br /> *Commercial square footage based on the past three-year <br /> average in Chapel Hill, past five-year average in Carrboro, <br /> and over the last fiscal year in Orange County. <br /> Hillsborough's commercial square footage was estimated by <br /> multiplying an average of eleven (11) commercial structures <br /> per year by a 2,000 square foot per structure estimate. <br /> Combining both Commercial and Residential Revenues result in <br /> the following table: <br /> TOTAL REVENUES <br /> Carrboro $ 257,330 <br /> Chapel Hill 488,450 <br /> Hillsborough 67,200 <br /> Orange County 661 ,600 <br /> T 0 T A L: $1,474,580 <br /> • <br />