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increment. The projections do not include growth in revenue attributable to supplemental <br />assessments, changes in ownership or new construction. <br />The Fiscal Consultant's Report notes that the tax increment cap of $2.65 billion <br />established for the Joint Project Area may be reached prior to the July 11, 2044 plan limit on the <br />receipt of tax increment under a sustained higher rate of growth. At annual assessed valuation <br />growth rates below 5% the tax increment cap was not reached prior to the tax increment <br />termination date. At growth rates of 5% and above, the tax increment cap was reached before <br />the last date to receive tax increment. As noted previously ("Historic and Current Assessed <br />Valuation") the Joint Project Area's average annual rate of growth since 2000-01 has been <br />6.3%. The West San Leandro Project Area is not subject to a tax increment cap. See <br />"APPENDIX B -Fiscal Consultant's Report". No assurance can be given that these <br />projections will be met, See "RISK FACTORS -Reduction in Taxable Value." <br />-40- <br />