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9 <br /> Slide #8 <br /> Proposed Performance Agreement Financial Terms <br /> • Total maximum Counter commitment - _1 5 million for both phases <br /> • Retention for Project Performance <br /> County retalm ten percent(10%)or the potental County eommItment ($315,000)untll fifty percent(50%)of the pro)est <br /> is completed <br /> — ARer 50%camptete, the retained amount is decreased to five percent(5%)of the total County commidn t J$157,500) <br /> Final aomptetlon Is dependenl on the Town of Hlftborough aaceptIng the new Infrastructure Into the Town system <br /> ORANGE COUNTY <br /> MORT[I CAROLINA <br /> Slide #9 <br /> Potential Financial Benefits and Costs <br /> • If the RTLP developer builds the planned 2.24 • The incentive would be financed over 20 years <br /> to 2.4 million square feet, the total capital and paid through Article 46 sales tax revenue <br /> i nvestment would range from$ 24 million to <br /> $240 million 0 The highest annual debt service payment is <br /> $283,500 <br /> • Using the Cou nty's cu rrent property tax rate <br /> (83.12 cents per$100 of vaIue), the capital . Total principie and interest payments over the <br /> i nvestment would yield$1.86 million to$2.0 20 year period would total$4.696, 50 <br /> million in property tax collections annually at full <br /> build out <br /> • Additional personalrbusi new property such as <br /> racking systems for distribution,machinery and <br /> equipment by manufacturers would generate <br /> additional investment _-- <br /> ORANGE COUNTY <br /> 9 MORYI I CAROL]NA <br />