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<br /> Slide #9
<br /> Forecast of CITEL's
<br /> Capital Investment Schedule
<br /> 20220296 2027 Fi Total
<br /> $9,250,000 $0 $0 $0 $0 $9,250,000
<br /> $2,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $6,000,000
<br /> $11,250,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $15,250,000
<br /> The Orange County incentive is based only on the $6,000,000.00 personal property
<br /> investment, and on the estimated $500,000.00 to $1,000,000.00 in net new real property
<br /> investment for upfit improvements to be made to the existing building.
<br /> Real Property:
<br /> Up to$9.25 million for an existing building,which includes CITEL making up to$1,000,000 in
<br /> new building upfit improvements. The value of the existing building is not included in the
<br /> County's incentive calculation. `
<br /> Personal Prope : O NORTHCOUNTY
<br /> rty
<br /> $6,000,000.00 in new taxable machinery and equipment investment.
<br /> Slide #10
<br /> Orange County's Performance-Based Incentive
<br /> • Performance-based grant is calculated at 75%of actual net-new business
<br /> and real property tax investment valuation,for 5 years. (Same incentive
<br /> formula as previously approved by the BOCC for ABB, Medline Industries,
<br /> and Morinaga).
<br /> • The purchase of the former Mid-Atlantic STIHL Inc. building that is already
<br /> taxed by Orange County, is not included in the calculation.Only the net-new
<br /> investment in personal property(machinery&equipment), and$500,000 to
<br /> $1,000,000 in additional real property(for improvements to the existing
<br /> building to be purchased)is proposed to receive an incentive.
<br /> • Estimated 5-year incentive total is$100,433
<br /> • During the first 10 years of operation,CITEL's investment is estimated to
<br /> create up to$263,313 in total gross property tax valuation,and $162,800 in
<br /> net valuation for the County.
<br /> ORANGE COUNTY
<br /> 10 NORTH CAROLINA
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