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<br /> <br />Land Use Financial Model <br /> <br />~, <br />Elt\'c~ <br /> <br />· Projections to 2025 <br />· Elk Rivers Uniqueness <br />. 35,000 future populatlon/45 sq. mi. to service <br />. Old/New <br />· Significant portion of urban service area is <br />complete <br />· 2,800 residential lots remain (urban and rural) <br />· 609,000 sJ. commercial <br />· 840,000 sJ. industrial/warehouse <br />. Gravel mining area excluded from study <br /> <br />", <br /> <br /> <br />L d U F- - I M d I EI~~" <br />an se Inancla 0 e l.iVCf <br /> <br />· Overall goal is to measure the city's future tax <br />base and its ability to provide adequate <br />revenue for necessary operations/programs <br />and strategic initiatives. <br /> <br />· General fund revenue/expenditures and other <br />levy impacts to the tax rate <br />ill hllc rl'ri"l I"Ul1d" ,II", 1 c. ,uld I~ .!I, .\1" S;lInc ,; lnlUI bUI ,11\" 11. Ii <br />I11cluclc"d hc rc' bcc:lu';l' ,hc'rl '" 11" 1.1X 1e'lI' illll':ICI <br />· Program is interactive/all assumptions can be <br />tested <br /> <br /> <br />What the Model Examines ('ltt~ <br /> <br />· Growth of Real Estate value <br />. New residential, commerCIal and industrial projects (homes <br />valued at $240,000) <br />. Market rate increase on existing tax capacity <br />. Permits as a revenue source' <br />· Additional Tax Resources <br />· Balancing Budget needs <br />. Increased operational costs as population increases <br />. Increased needs due to aging community <br />. Funding new strategic objectives <br />. Decrease of growth related revenue sources <br /> <br />. to offset the building expense <br /> <br />1 <br />