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<br />Projected Available Net Tax Increment and Estimated Debt Service Coverage
<br />
<br />The Fiscal Consultant prepared projections of available net tax increment individually for
<br />each of the Project Areas and on a combined basis. Net available tax increment is the amount
<br />of tax increment available to be allocated from the Redevelopment Property Tax Trust Fund to
<br />the Successor Agency to pay debt service on the 2014 Bonds. Table 10 and 11 show available
<br />net tax increment for the Plaza Project Area and the West San Leandro/MacArthur Boulevard
<br />Project Area. Table 12 below shows available net tax increment from the two Project Areas on
<br />a combined basis together with estimated debt service coverage on the 2014 Bonds. The
<br />projections assume 2% annual real property assessed value growth beginning in fiscal year
<br />2015-16. Tables 10, 11 and 12 assume that the tax increment cap with respect to the Plaza 1
<br />Project Area and the Plaza 2 Project Area are reached in fiscal year 2016-17 and fiscal year
<br />2026-27, respectively, and that the Successor Agency will not receive Tax Revenues derived
<br />from the Plaza 1 Project Area and the Plaza 2 Project Area after such dates. See “RISK
<br />FACTORS - Plan Limits.” Other assumptions made by the Fiscal Consultant in calculating the
<br />projected available net tax increment are described in the Fiscal Consultant’s Report. See
<br />“APPENDIX H – Fiscal Consultant’s Report.”
<br />
<br />TABLE 10
<br />SUCCESSOR AGENCY TO THE
<br />REDEVELOPMENT AGENCY OF THE CITY OF SAN LEANDRO
<br />Plaza Project Area
<br />Projection of Incremental Value and Tax Increment Revenue
<br />(Dollars in thousands)
<br />
<br />
<br />Fiscal
<br />Year
<br />Gross Tax
<br />Increment
<br />Administration
<br />Fees
<br />Pass-Through
<br />Payments
<br />Net Tax
<br />Revenue
<br />2014-15 $3,418,792 ($34,040) ($327,635) $3,057,117
<br />2015-16 3,484,970 (34,699) (348,422) 3,101,848
<br />2016-17 3,502,593 (34,875) (369,810) 3,097,908
<br />2017-18 3,267,322 (32,532) (353,508) 2,881,281
<br />2018-19 3,330,657 (33,163) (373,783) 2,923,711
<br />2019-20 3,395,258 (33,806) (394,668) 2,966,785
<br />2020-21 3,461,152 (34,462) (416,175) 3,010,515
<br />2021-22 3,528,364 (35,131) (438,330) 3,054,903
<br />2022-23 2,996,926 (29,840) (461,151) 2,505,935
<br />2023-24 3,054,966 (30,418) (484,656) 2,539,893
<br />2024-25 3,114,167 (31,007) (508,864) 2,574,296
<br />2025-26 580,371 (5,779) (533,798) 40,795
<br />2026-27 0 0 0 0
<br />Total 37,135,537 (369,750) (5,010,799) 31,754,988
<br />
<br />Source: Urban Analytics, LLC
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