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Millcreek Community Reinvestment Agency ASSUMPTIONS: Canyon Rim Commons CRA Discount Rate 4.0% Increment and Budget Analysis Inflation Rate 0.0% Appendix C.1: Multi-Year Tax Increment Budget (Project Area Forecast) Payment Year 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 Tax Year 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 TOTALS NPV Cumulative Taxable Value Year Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20 Base Year Value (Real Property) $69,547,441 $69,547,441 $69,547,441 $69,547,441 $69,547,441 $69,547,441 $69,547,441 $69,547,441 $69,547,441 $69,547,441 $69,547,441 $69,547,441 $69,547,441 $69,547,441 $69,547,441 $69,547,441 $69,547,441 $69,547,441 $69,547,441 $69,547,441 $69,547,441 $69,547,441 $69,547,441 $69,547,441 $69,547,441 $69,547,441 $69,547,441 $69,547,441 $69,547,441 $69,547,441 $69,547,441 $69,547,441 $69,547,441 $69,547,441 $69,547,441 $69,547,441 $69,547,441 $69,547,441 $69,547,441 $69,547,441 TAX RATE & INCREMENT ANALYSIS: 2017 Rates Salt Lake County 0.002025 140,834 140,834 140,834 140,834 140,834 140,834 140,834 140,834 140,834 140,834 140,834 140,834 140,834 140,834 140,834 140,834 140,834 140,834 140,834 140,834 $2,816,671 $1,913,974 Salt Lake County Library 0.000559 38,877 38,877 38,877 38,877 38,877 38,877 38,877 38,877 38,877 38,877 38,877 38,877 38,877 38,877 38,877 38,877 38,877 38,877 38,877 38,877 $777,540 $528,351 Granite School District 0.007822 544,000 544,000 544,000 544,000 544,000 544,000 544,000 544,000 544,000 544,000 544,000 544,000 544,000 544,000 544,000 544,000 544,000 544,000 544,000 544,000 $10,880,002 $7,393,139 Millcreek City 0.002012 139,929 139,929 139,929 139,929 139,929 139,929 139,929 139,929 139,929 139,929 139,929 139,929 139,929 139,929 139,929 139,929 139,929 139,929 139,929 139,929 $2,798,589 $1,901,687 South Salt Lake Valley Mosquito Abatement District 0.000015 1,043 1,043 1,043 1,043 1,043 1,043 1,043 1,043 1,043 1,043 1,043 1,043 1,043 1,043 1,043 1,043 1,043 1,043 1,043 1,043 $20,864 $14,178 Mt. Olympus Improvement District 0.000279 19,404 19,404 19,404 19,404 19,404 19,404 19,404 19,404 19,404 19,404 19,404 19,404 19,404 19,404 19,404 19,404 19,404 19,404 19,404 19,404 $388,075 $263,703 Central Utah Water Conservancy District 0.000400 27,819 27,819 27,819 27,819 27,819 27,819 27,819 27,819 27,819 27,819 27,819 27,819 27,819 27,819 27,819 27,819 27,819 27,819 27,819 27,819 $556,380 $378,069 Unified Fire Service Area 0.001858 129,219 129,219 129,219 129,219 129,219 129,219 129,219 129,219 129,219 129,219 129,219 129,219 129,219 129,219 129,219 129,219 129,219 129,219 129,219 129,219 $2,584,383 $1,756,130 Totals: 0.014970 1,041,125 1,041,125 1,041,125 1,041,125 1,041,125 1,041,125 1,041,125 1,041,125 1,041,125 1,041,125 1,041,125 1,041,125 1,041,125 1,041,125 1,041,125 1,041,125 1,041,125 1,041,125 1,041,125 1,041,125 $20,822,504 $14,149,231 TOTAL BASE YEAR REVENUE IN PROJECT AREA: $1,041,125 $1,041,125 $1,041,125 $1,041,125 $1,041,125 $1,041,125 $1,041,125 $1,041,125 $1,041,125 $1,041,125 $1,041,125 $1,041,125 $1,041,125 $1,041,125 $1,041,125 $1,041,125 $1,041,125 $1,041,125 $1,041,125 $1,041,125 $20,822,504 $14,149,231 Retained Property Tax Salt Lake County 6,078 11,711 15,067 18,589 21,355 24,176 25,484 26,902 28,320 28,208 28,208 28,208 28,208 28,208 28,208 487,971 315,156 - - - $1,150,058 $667,752 Salt Lake County Library 1,678 3,233 4,159 5,132 5,895 6,674 7,035 7,426 7,818 7,787 7,787 7,787 7,787 7,787 7,787 134,704 86,999 - - - $317,473 $184,333 Granite School District 23,476 45,238 58,201 71,806 82,489 93,385 98,438 103,916 109,394 108,959 108,959 108,959 108,959 108,959 108,959 1,884,893 1,217,359 - - - $4,442,349 $2,579,338 Millcreek City 6,039 11,636 14,971 18,470 21,218 24,021 25,321 26,730 28,139 28,027 28,027 28,027 28,027 28,027 28,027 484,838 313,133 - - - $1,142,675 $663,466 South Salt Lake Valley Mosquito Abatement District 45 87 112 138 158 179 189 199 210 209 209 209 209 209 209 3,615 2,334 - - - $8,519 $4,946 Mt. Olympus Improvement District 837 1,614 2,076 2,561 2,942 3,331 3,511 3,707 3,902 3,886 3,886 3,886 3,886 3,886 3,886 67,232 43,422 - - - $158,453 $92,001 Central Utah Water Conservancy District 1,201 2,313 2,976 3,672 4,218 4,776 5,034 5,314 5,594 5,572 5,572 5,572 5,572 5,572 5,572 96,389 62,253 - - - $227,172 $131,902 Unified Fire Service Area 5,576 10,746 13,825 17,056 19,594 22,182 23,383 24,684 25,985 25,882 25,882 25,882 25,882 25,882 25,882 447,728 289,166 - - - $1,055,214 $612,683 Total 44,929 86,578 111,387 137,424 157,871 178,724 188,394 198,878 209,361 208,530 208,530 208,530 208,530 208,530 208,530 3,607,370 2,329,821 - - - $8,501,914 $4,936,421 Total Base and Retained Salt Lake County 146,911 152,545 155,901 159,423 162,189 165,010 166,318 167,736 169,154 169,041 169,041 169,041 169,041 169,041 169,041 628,804 455,990 140,834 140,834 140,834 $3,966,730 $2,581,726 Salt Lake County Library 40,555 42,110 43,036 44,009 44,772 45,551 45,912 46,303 46,695 46,664 46,664 46,664 46,664 46,664 46,664 173,581 125,876 38,877 38,877 38,877 $1,095,013 $712,684 Granite School District 567,476 589,238 602,201 615,806 626,489 637,385 642,438 647,916 653,394 652,959 652,959 652,959 652,959 652,959 652,959 2,428,893 1,761,359 544,000 544,000 544,000 $15,322,351 $9,972,476 Millcreek City 145,968 151,566 154,900 158,400 161,148 163,950 165,250 166,659 168,068 167,956 167,956 167,956 167,956 167,956 167,956 624,768 453,062 139,929 139,929 139,929 $3,941,264 $2,565,152 South Salt Lake Valley Mosquito Abatement District 1,088 1,130 1,155 1,181 1,201 1,222 1,232 1,242 1,253 1,252 1,252 1,252 1,252 1,252 1,252 4,658 3,378 1,043 1,043 1,043 $29,383 $19,124 Mt. Olympus Improvement District 20,241 21,017 21,480 21,965 22,346 22,735 22,915 23,110 23,306 23,290 23,290 23,290 23,290 23,290 23,290 86,635 62,825 19,404 19,404 19,404 $546,527 $355,705 Central Utah Water Conservancy District 29,019 30,132 30,795 31,491 32,037 32,594 32,853 33,133 33,413 33,391 33,391 33,391 33,391 33,391 33,391 124,208 90,072 27,819 27,819 27,819 $783,552 $509,971 Unified Fire Service Area 134,795 139,965 143,044 146,276 148,813 151,401 152,602 153,903 155,204 155,101 155,101 155,101 155,101 155,101 155,101 576,948 418,385 129,219 129,219 129,219 $3,639,597 $2,368,814 Total 1,086,054 1,127,703 1,152,512 1,178,550 1,198,996 1,219,849 1,229,519 1,240,003 1,250,486 1,249,655 1,249,655 1,249,655 1,249,655 1,249,655 1,249,655 4,648,495 3,370,946 1,041,125 1,041,125 1,041,125 $29,324,417 $19,085,652 Base Year (Annual) Taxes Increment (Annually) after 15 Years Total Salt Lake County $140,834 94,026 234,860 Salt Lake County Library $38,877 25,956 64,833 Granite School District $544,000 363,197 907,197 Millcreek City $139,929 93,423 233,352 South Salt Lake Valley Mosquito Abatement District $1,043 696 1,740 Mt. Olympus Improvement District $19,404 12,955 32,358 Central Utah Water Conservancy District $27,819 18,573 46,392 Unified Fire Service Area $129,219 86,272 215,491 Total $1,041,125 $695,098 $1,736,224 67% INCREMENTAL TAX ANALYSIS: TOTAL INCREMENTAL VALUE: Base Year Canyon Rim CRA Budget