HomeMy WebLinkAbout(P3 d) Patel mixed-use project economic impact report, twenty years, full repor...A Report of the
Economic Impact of
Patel Mixed-Use Project
in Port Arthur, Texas
Prepared by:
Impact DataSource, LLC
4709 Cap Rock Drive
Austin, Texas 78735
(512) 892-0205
Fax (512) 892-2569
www.impactdatasource.com
October 2, 2021
Table of Contents
The Report:
Introduction ................................................................................................................. 3
Description of the Facility .....................................................................……………………. 3
City Incentives/Assistance Requested for the Development .......................................3
Economic Impact during the Facility's Construction ....................................................4
Economic Impact of the Facility's Operations Over the First Twenty Years .................7
Costs and Benefits for Local Taxing Districts During the First Twenty Years ............... 8
of the Facility's Operation
Discussion of State Aid for the School District .............................................................10
Conduct of the Analysis ..................................……………………….....................................10
About Impact DataSource ...………………………................................................................ 11
Appendices:
A - Community Tax Rates and Information Used in this Analysis ................................... 13
B - Project Assumptions ..................................................................................................17
C - Project Construction Costs and FF&E to be Purchased by Businesses in the ........... 23
the Project During Construction
D - Estimated Value of Property in the Development to be Added to Local Tax Rolls .. 25
E - Summary of Economic Impacts .................................................................................27
F - Schedules Showing the Results of Economic Impact Calculations .............................33
G -- Schedules Showing the Results of Costs and Benefits Calculations:
City of Port Arthur .....................................................................................................40
Jefferson County ........................................................................................................46
Port Arthur Independent School District ...................................................................51
Port of Port Arthur .................................................................................................... 55
Sabine-Neches Navigation District ............................................................................ 56
Drainage District # 7 ..................................................................................................57
Impact DataSource Page 2
Introduction
This report presents the results of an economic impact analysis performed by Impact DataSource, Austin,
Texas. The analysis was to determine the impact that Patel Mixed-Use Project in Port Arthur, Texas, will have
on the economy of the Port Arthur area and the costs and benefits for local taxing districts over the
first twenty, during construction and operations at the facility
Description of the Facility
Patel Mixed-Use Development is planned 275 acre project in Port Arthur, Texas with the following
components which will be built out over ten years:
Hotels 2 100 rooms total
Offices 150,000 square feet of floor space
Single family homes 200 homes
Apartments 1200 units
Storage center 100,000 square feet of building space
Retail shopping center 125,000 square feet of building space
Fast food or restaurant 6 20,000 square feet of building space
pad sites
15 acre resort RV park 200 spaces
In addition to land, an estimated $354 million will be invested in the project: $340 million to construct
buildings and other real property improvements and $14 million for tenants' furniture, fixtures and equipment.
Plus, tenants in the project will create an estimated 717 direct jobs with market salary rates.
City Incentives/Assistance Requested for the Development
As an incentive for this development, the developer requests the City of Port Arthur extend Jimmy Johnson
Blvd to Hwy 365 as soon as possible and increase the capacity of all utilities to support this development. The
developer will be donating approximately 7 acres of land with an estimated value of $300,000 to the City of
Port Arthur for the road extension.
How the economy of the area will be impacted during construction is discussed next.
Possible Components of the Project
A Report of the Projected Economic Impact from
Patel Mixed-Use Project
Impact DataSource Page 3
The Estimated Economic Impact during the Facility's Construction
Economic Impact During Construction
Direct Impact
The project's infrastructure, building construction and tenant improvements costs are expected to be
$340 million of which an estimated 75% or $255 million may be on-site or local costs.
Therefore, the project will generate $255 million in direct revenues for area construction companies,
architects, engineers, and others in the construction industry. In addition, an estimated 232 direct
construction and related workers will work on the project each year during construction. The
estimated direct construction payroll will be $102 million.
Direct and Indirect Impact
This construction activity and direct construction jobs and salaries will, in turn, create and support revenues
in other businesses in the area and indirect jobs and salaries during the time that the project is being
constructed. In total, the project may support an estimated $448 million in gross area product or economic
activity in area during its construction, an estimated 410 total jobs each year during construction of the
project, and total salaries estimated to be $154 million, as shown below.
Revenues for area businesses:
Direct $255,093,750
Indirect
Total revenues $448,327,266
Jobs:
Direct 232
Indirect 179
Total jobs 410
Salaries:
Direct $102,037,500
Indirect $52,039,125
Total salaries $154,076,625
Multipliers used in the above calculations of indirect economic outputs, jobs and salaries are discussed
later in this report.
Economic Impact During
Construction of the Project
$193,233,516
Impact DataSource Page 4
Sales Taxes to be Collected by the City During Construction of the Project
Taxable Sales
The following estimated taxable sales will be generated during construction of the project:
Local cost of constructing the project $255,093,750
Percent of costs for materials 60%
Percent of costs for labor 40%
Total cost of materials $153,056,250
Estimated percent of construction materials that 25%
will be taxable in Port Arthur
Total taxable construction materials $38,264,063
Total direct construction labor $102,037,500
Percent of construction salaries to be spent on 26%
taxable goods and services
Percent of construction salaries to be spent in Port Arthur 25%
Total taxable spending by construction workers in Port Arthur $6,632,438
Indirect salaries (salaries to be paid to workers $52,039,125
supported in indirect jobs in the community)
Percent of construction salaries to be spent on 26%
taxable goods and services
Percent of construction salaries to be spent in Port Arthur 25%
Total taxable spending by construction workers in Port Arthur $3,382,543
Estimated taxable spending in Port Arthur by $19,323,352
by indirect businesses (spending excluding
payments for salaries)
Estimated FF&E to be purchased for the facility $14,185,000
Percent to be purchased in Port Arthur 15%
Total FF&E to be taxable in Port Arthur $2,127,750
Summary of taxable spending in Port Arthur:
Purchases of construction materials for the project $38,264,063
Taxable spending by direct and indirect workers $10,014,981
Taxable spending by indirect businesses $19,323,352
Taxable FF&E $2,127,750
Total taxable spending during construction $69,730,145
Taxable Sales During Construction of the Project
Impact DataSource Page 5
Sales Tax Collections
The following sales taxes will be collected by local taxing districts during construction of the project:
Taxable Sales:
Purchases of construction materials $38,264,063
Taxable spending by workers:
Construction workers $6,632,438
Indirect workers $3,382,543
Subtotal spending by workers $10,014,981
Taxable spending by indirect $19,323,352
businesses
Taxable purchases of FF&E $2,127,750
Total taxable sales $69,730,145
Sales tax collections:
Sales tax rate:
City of Port Arthur 1.5%
Jefferson County 0.5%
Sales tax collections during construction:
City of Port Arthur $1,045,952
Jefferson County $348,651
Total $1,394,603
Building Permits and Fees to be Collected by the City During Construction of the Project
The City will collect the following estimated building permits and fees during development and
construction:
Building permits and fees $2,040,750
During Construction
City Building Permits and Fees During
Construction of the Project
Estimated Taxable Sales and Sales Tax Collections
Impact DataSource Page 6
Total City and County Revenues During Construction of the Project
During construction, the project will generate the following revenues for the City and County:
City County Total
Sales taxes $1,394,603 $348,651 $1,743,254
Building permits and fees $2,040,750 $2,040,750
Total $3,435,353 $348,651 $3,784,004
How the facility will impact the economy of the area during its first twenty years of operations is discussed
next.
The Estimated Economic Impact of the Facility's Operations
over the First Twenty Years
The facility will have the following economic impact on the Port Arthur area over the first twenty years
of operations:
Total number of permanent direct and indirect jobs to be created 939
Number of residents in development 4,200
Number of students in the development expected in Port Arthur ISD 1,050
Salaries to be paid to direct and indirect workers
Taxable sales and purchases expected in the City
Lodging sales at hotels in the development $160,836,768
The facility's assets added to local tax rolls at build out including $396,207,500
business taxable inventories
How this economic activity translates into additional costs and benefits for local taxing districts is discussed
next.
City and County Revenues During
Construction of the Project
$839,190,301
$1,027,424,623
Economic Impact over the First Twenty Years of Operations of the Facility
Impact DataSource Page 7
Costs and Benefits for Local Taxing Districts over the First
Twenty Years of the Operations of the Facility
Local taxing districts can expect costs and benefits over the first twenty years of the operations of the facility,
as scheduled below, beginning with the additional revenues to be received.
Additional Revenues During the First Twenty Years of Operations for Local Taxing Districts
Local taxing districts can expect to receive the following revenues over the first twenty years from the facility,
its residents, employees and workers in indirect jobs created in the community:
Utility
Sales Property Franchise
Taxes Taxes Utilities Fees
City of Port Arthur $16,826,713 $57,028,570 $46,815,556 $11,444,803
Jefferson County $5,608,904 $26,280,450
Port Arthur ISD $114,229,954
Port of Port Arthur $13,354,478
Sabine-Neches Navigation District $6,043,684
Drainage District # 7 $21,240,982
Total $22,435,617 $238,178,119 $46,815,556 $11,444,803
Additional
State and
Hotel Other Taxes Federal Total
Occupancy and User School Additional
Taxes Fees Funding Revenues
City of Port Arthur $11,258,574 $10,464,543 $153,838,758
Jefferson County $2,832,107 $34,721,461
Port Arthur ISD $106,876,569 $221,106,523
Port of Port Arthur $13,354,478
Sabine-Neches Navigation District $6,043,684
Drainage District # 7 $21,240,982
Total $11,258,574 $13,296,649 $106,876,569 $450,305,886
Twenty Years of the Facility's Operation
Additional Revenues For Local Taxing Districts Over the First
Impact DataSource Page 8
Additional Costs During the First Twenty Years of Operations for Local Taxing Districts
Local taxing districts will incur the following costs over the first twenty years of the operations of the facility --
to provide services to the facility:
Reduction
in State
School
Funding as a
Costs of Result of
Costs of Providing Costs of Property
Services to Monthly Educating being Added
the Utility New to Local
Development Services Students Tax Rolls Total
City of Port Arthur $19,413,572 $46,815,556 $66,229,127
Jefferson County $4,318,262 $4,318,262
Port Arthur ISD $100,403,496 $78,227,069 $178,630,565
Port of Port Arthur $0
Sabine-Neches Navigation District $0
Drainage District # 7 $0
Total $23,731,833 $46,815,556 $100,403,496 $78,227,069 $249,177,954
Additional Net Benefits During the First Twenty Years of Operations for Local Taxing Districts
The additional public benefits less additional public costs will result in the following net benefits for the
City, County and other local taxing districts over the first twenty years of the facility's operation:
Benefits Costs Net Benefits
City of Port Arthur $153,838,758 $66,229,127 $87,609,631
Jefferson County $34,721,461 $4,318,262 $30,403,199
Port Arthur ISD $221,106,523 $178,630,565 $42,475,958
Port of Port Arthur $13,354,478 $0 $13,354,478
Sabine-Neches Navigation District $6,043,684 $0 $6,043,684
Drainage District # 7 $21,240,982 $0 $21,240,982
Total $450,305,886 $249,177,954 $201,127,932
First Twenty Years of the Facility's Operation
Costs for Local Taxing Districts Over the First Twenty Years
of the Facility's Operation
Net Benefits for Local Taxing Districts Over the
Impact DataSource Page 9
Discounted Cash Flow for Local Taxing Districts During the First Twenty Years of the Facility's Operations
The discounted cash flow over the first twenty years for each local taxing district from the operations of the
facility is shown below.
City of Port Arthur $46,016,959
Jefferson County $15,892,831
Port Arthur ISD $22,183,157
Port of Port Arthur $6,991,671
Sabine-Neches Navigation District $3,248,674
Drainage District # 7 $11,120,610
Total $105,453,902
The above discounted cash flow or present value of net benefits is a way of expressing in today's dollars,
dollars to be paid or received in the future. Today's dollar and a dollar to be received or paid at differing times
in the future are not comparable because of the time value of money. The time value of money is the interest
rate or each taxing entity's discount rate. This analysis uses a discount rate of 6% to make the dollars
comparable -- by expressing them in today's dollars or in present value.
Discussion of State Aid for the School District
This analysis seeks to calculate the impact on the school district's finances from the facility by
generally, and at a summary level, mimicking the district's state school funding formula.
According to the Texas Education Agency, any property added to local tax rolls and local taxes that this
generates reduces state funding equivalent to local taxes collected for maintenance and operations.
The school district retains local taxes received for debt services and corresponding state funding is not
reduced.
However, according to the Texas Education Agency, the school district will receive state aid for each
new child that moves to the District. The additional net revenues for the school district are calculated in
this analysis.
Conduct of the Analysis
This analysis was conducted by Impact DataSource using information supplied by the firm along with
local tax rates and some Impact DataSource estimates and assumptions.
Discounted Cash Flow Over the
First Twenty Years from the Operations of the Facility
Impact DataSource Page 10
Using this data, the economic impact from the facility and the costs and benefits for the City of Port Arthur,
Jefferson County, Port Arthur ISD, Port of Port Arthur, Sabine-Neches Navigation District, and
Drainage District # 7 were calculated during the first twenty years during construction and operations.
In addition to the direct economic impact of the facility and its employees, spin-off or indirect and induced
benefits were also calculated. Indirect revenues, jobs and salaries are created in new or existing area firms,
such as maintenance companies, supply and service firms, that may supply goods and services to the facility.
In addition, induced revenues, jobs and salaries are created in new or existing local businesses, such as
retail stores, gas stations, banks, restaurants, and service companies that may supply goods and services
to new workers and their families.
To estimate the indirect and induced economic impact of the facility and its employees on the Port Arthur
area, regional economic multipliers were used. Regional economic multipliers for Texas and areas of the
state are included in the US Department of Commerce’s Regional Input-Output Modeling System (RIMS II).
Three types of regional economic multipliers were used in this analysis: economic output, employment
and workers' earnings.
An output multiplier was used to estimate the indirect and induced output generated in the area
for each dollar of construction costs.
An employment multiplier was used to estimate the number of indirect and induced jobs created and
supported in the Port Arthur area. An earnings multiplier was used to estimate the amount of salaries to
be paid to workers in these new indirect and induced jobs. These multipliers show the estimated number
of indirect and induced jobs created for every one direct job at the facility and the amount of salaries
paid to these workers for every dollar paid to a direct worker at the facility. The multipliers used in this
analysis are below:
Construction Operations
Output 0.7575 0.4725
Employment 0.7699 0.2183
Earnings 0.5100 0.3107
About Impact DataSource
Impact DataSource is a 27-year-old Austin economic consulting, research and analysis firm. The firm
has conducted economic impact analyses of numerous projects in Texas and 39 other states. In
addition, the firm has developed economic impact analysis computer programs for several clients,
Construction and Operations
Indirect Multipliers Used in
the Analysis During the Development's
Impact DataSource Page 11
including the New Mexico Economic Development Department.
The firm’s principal, Jerry Walker, performed this economic impact analysis. He is an economist and has
Bachelor of Science and Master of Business Administration degrees in accounting and economics from
Nicholls State University, Thibodaux, Louisiana.
Data used in the analysis, along with schedules of the results of calculations, are on the following pages.
Impact DataSource Page 12
Appendix A
Community Tax Rates and Information Used in this Analysis
Impact DataSource Page 13
Local Tax Rates:
City of Port Arthur sales tax rate 1.5%
Jefferson County sales tax rate 0.5%
Property tax rates, per $100 of valuation:
City of Port Arthur $0.792000
Jefferson County $0.364977
Port Arthur ISD:
M&O $1.086400
I&S $0.500000
Total $1.586400
Port of Port Arthur $0.185464
Sabine-Neches Navigation District $0.090426
Drainage District # 7 $0.294990
Some Estimated City Rates:
Estimated annual marginal cost of providing municipal services, excluding utilities, $692
each new household
Estimated annual other taxes and user fees to be collected by the city from $320
each new household -- those revenues that are in addition to sales and
property taxes, utilities and utility franchise fees
Estimated annual marginal cost of providing municipal services, excluding utilities, $255
to new businesses as a cost per worker
Estimated annual other taxes and user fees to be collected by the city from $118
new businesses per worker -- those revenues that are in addition to sales and
property taxes, utilities and utility franchise fees
Annual increase expected in the city's other revenues and marginal costs 2%
The city's estimated annual water, wastewater and garbage collection billings $1,432
per household
The city's estimated annual water, wastewater and garbage collection billings $527
for new businesses as billings per worker
The city's cost of providing water, wastewater and solid waste services, 100%
as a percent of utility billings
Annual increase expected in city-owned utility billings 2%
Impact DataSource Page 14
Annual utility franchise fees collected from utility providers for each household $350.00
Annual utility franchise fees collected from utility providers for new businesses $129.00
as fees per worker
Some Estimated County Rates:
Annual marginal cost of providing county services to each new household $154
Annual miscellaneous taxes and user fees to be collected from each $101
new household, those county revenues other than property and sales taxes
Annual increase expected in other county revenues and marginal costs 2%
Some Estimated School District Rates:
Estimated annual state, federal and other funding received by the district for $4,524
for each child enrolled
Average annual cost of providing services to each child in the district $8,500
Average annual cost for each new child, as a percent of average annual cost 50%
Annual marginal cost of providing services to each new child $4,250
Other Estimated Community Rates:
Expected inflation rate over the first twenty years 3.0%
Discount rate used in analysis to compute discounted cash flows 6%
Percent of a typical worker's salary that will be spent on taxable goods 26%
and services
Average taxable value of a new single family residence in the community $325,000
that will are built for some individuals moving to the city
Percent annual increase in the taxable value of residential 2%
property and commercial real property on local tax rolls over the first twenty years
Depreciation rates:
To estimate the annual taxable or depreciable value of furniture, fixtures and equipment at the facility
Impact DataSource Page 15
being analyzed in this analysis, this analysis uses straight line depreciation, an ten year life and a 20%
residual value. Therefore, property taxes on the facility's furniture, fixtures and equipment are calculated
on the following percentages of the costs of such equipment purchased each year:
Year 1 90%
Year 2 80%
Year 3 70%
Year 4 60%
Year 5 50%
Year 6 40%
Year 7 30%
Year 8 20%
Year 9 20%
Year 10 20%
Impact DataSource Page 16
Appendix B
Project Assumptions
Impact DataSource Page 17
Proposed development and construction schedule 10 years
City building permits and fees for construction of components 0.8%
as a percent of total construction costs
Estimated average annual salaries of construction workers $55,000
Proposed uses:
Hotels Nr. Hotels 2 100 rooms each
Office space 150,000 sf
Number of single family homes 200 homes
Apartments 1200 units
Storage center 100,000 sf
Retail shopping center 125,000 sf
Fast food or restaurant pad sites Nr. Pads 6 20,000 sf of buildings each
15 acre resort RV park 200 spaces
Completion schedule for proposed uses:
Table 1 of 2:
RV Park
Offices SF homes Apartments Storage Number of Hotel
SF Number Units SF Spaces Rooms
Year 1 300 100
Year 2
Year 3
Year 4 30,000 300 20,000 200 100
Year 5 30,000 40 20,000
Year 6 30,000 40 300 20,000
Year 7 30,000 40 20,000
Year 8 30,000 40 300 20,000
Year 9 40
Year 10
Total 150,000 200 1,200 100,000 200 200
Impact DataSource Page 18
Table 2 of 2:
Retail Center Pad Sites
SF SF of Buildings
Year 1
Year 2
Year 3
Year 4 62,500 6,667
Year 5
Year 6 62,500 6,667
Year 7
Year 8 6,667
Year 9
Year 10
Hotel 125,000 20,000
Hotel:
Number of hotels 2
Total number of rooms 200
Construction costs per room $150,000
Taxable inventories Per hotel $10,000 $20,000
Jobs per room 0.25
Total number of jobs 50
Average annual salaries $22,500
Average nightly room rate $125
Initial occupancy rate 60%
Occupancy rate within three years 70%
Estimated annual sales subject to sales tax $75,000
Total construction cost $30,000,000
Value on tax roll:
Construction cost $30,000,000
Land Percent of cost 10% $3,000,000
Total value on tax rolls $33,000,000
Impact DataSource Page 19
Offices/Medical offices:
SF feet of space 150,000
Construction and finish out cost per sf $185
FF&E per square foot $35
Taxable inventories per sf $5
Annual taxable spending for supplies, etc. per sf $20
Percent of businesses in project having taxable sales 20%
Average sales per square foot for theses businesses $200
Total taxable sales for these businesses $6,000,000
Total annual taxable spending $3,000,000
SF for each job 300 SF
Total jobs 500
Average annual salaries $55,000
Total construction cost $27,750,000
Value on tax roll:
Construction cost $27,750,000
Land Percent of cost 10% $2,775,000
Total value on tax rolls $30,525,000
Taxable business personal property on tax rolls:
FF&E $5,250,000
Inventories $750,000
Subtotal business personal property on tax rolls $6,000,000
SF homes:
Number of homes 200
Construction cost per home $275,000
Estimated average household income of owners of homes $95,000
Estimated percent of purchasers of the home that will move 60%
to Port Arthur from somewhere else
Total construction cost $55,000,000
Value on tax roll:
Construction cost $55,000,000
Land Percent of cost 10% $5,500,000
Total value on tax rolls $60,500,000
Apartments:
Total number of units 1,200
Construction cost unit $150,000
Estimated taxable spending by the apartment of supplies, etc. $350,000
Estimated average household income of tenants $85,000
Estimated percent of renters that will move 50%
to Port Arthur from somewhere else
Estimated number of jobs 48
Average annual workers' salaries $40,000
Total construction cost $180,000,000
Impact DataSource Page 20
Value on tax roll:
Construction cost $180,000,000
Land Percent of cost 10% $18,000,000
Total value on tax rolls $198,000,000
Management's FF&E $500,000
Inventories on tax rolls $35,000
Taxable sales $60,000
Estimated number of people in a household residing in the 3
development
Estimated number of public school students per household in 0.75
the development
Storage:
Square feet of space 100,000
Construction and finish out cost per sf $75
FF&E in office $10,000
Taxable inventories $30,000
Number of jobs 3
Average annual salaries $40,000
Estimated annual taxable sales of supplies, etc. $100,000
Total construction cost $7,500,000
Value on tax roll:
Construction cost $7,500,000
Land Percent of cost 10% $750,000
Total value on tax rolls $8,250,000
Retail center:
SF of space 125,000
Construction and finish out cost per sf $175
FF&E per square foot $45
Taxable inventories per sf $55
SF for each job 750 SF
Total jobs 167
Average annual salaries $30,000
Annual taxable sales per sf $275
Total annual taxable sales $34,375,000
Total construction cost $21,875,000
Real property on tax roll:
Construction cost $21,875,000
Land Percent of cost 10% $2,187,500
Subtotal real property on tax rolls $24,062,500
Taxable business personal property on tax rolls:
FF&E $5,625,000
Inventories $6,875,000
Subtotal business personal property on tax rolls $12,500,000
Impact DataSource Page 21
Restaurant pad sites:
SF of building space 20,000
Construction and finish out cost per sf $275
FF&E per square foot $125
Taxable inventories per sf $8
SF for each job 250 SF
Total jobs 80
Average annual salaries $30,000
Annual taxable sales per sf $500
Total annual taxable sales $10,000,000
Total construction cost $5,500,000
Real property on tax roll:
Construction cost $5,500,000
Land Percent of cost 10% $550,000
Subtotal real property on tax rolls $6,050,000
Taxable business personal property on tax rolls:
FF&E $2,500,000
Inventories $160,000
Subtotal business personal property on tax rolls $2,660,000
Resort RV park
Construction cost $12,500,000
FF&E $300,000
Taxable inventories $15,000
Number of jobs 8
Average annual salaries $35,000
Annual taxable sales in store $30,000
Assuming that this is a long term rental, the average
annual salaries of the renter of each space $80,000
Taxable spending by a typical renter as a percent of total salary 26%
Percent of this taxable spending in Port Arthur 20%
Total construction cost $12,500,000
Real property on tax roll:
Construction cost $12,500,000
Land Percent of cost 10% $1,250,000
Subtotal real property on tax rolls $13,750,000
Taxable business personal property on tax rolls:
FF&E $300,000
Inventories $15,000
Subtotal business personal property on tax rolls $315,000
Impact DataSource Page 22
Appendix C
Project Construction Costs and FF&E to be Purchased by
Businesses in the Project During Construction
Impact DataSource Page 23
Project construction costs:
Cost of real property improvements:
Hotels $30,000,000
Office space $27,750,000
Single family homes $55,000,000
Apartments $180,000,000
Storage center $7,500,000
Retail shopping center $21,875,000
Fast food or restaurant pad sites $5,500,000
15 acre resort RV park $12,500,000
Subtotal costs of real property improvements $340,125,000
Total real property improv. construction costs $340,125,000
FF&E to be purchased during construction by businesses in the project:
Hotels Part of construction costs
Office space $5,250,000
Single family homes $0
Apartments $500,000
Storage center $10,000
Retail shopping center $5,625,000
Fast food or restaurant pad sites $2,500,000
15 acre resort RV park $300,000
Subtotal costs of FF&E $14,185,000
Impact DataSource Page 24
Appendix D
Estimated Value of Property in the Development to be Added to
Local Tax Rolls
Impact DataSource Page 25
Estimated value of property in the development to be added to local tax rolls:
Land and real property improvements:
Hotels $33,000,000
Office space $30,525,000
Single family homes $60,500,000
Apartments $198,000,000
Storage center $8,250,000
Retail shopping center $24,062,500
Fast food or restaurant pad sites $6,050,000
15 acre resort RV park $13,750,000
Subtotal land and real property improvements $374,137,500
FF&E:
Hotels Combined with real property valuation
Office space $5,250,000
Single family homes No residential FF&E on tax rolls
Apartments $500,000
Storage center $10,000
Retail shopping center $5,625,000
Fast food or restaurant pad sites $2,500,000
15 acre resort RV park $300,000
Subtotal FF&E $14,185,000
Inventories:
Hotels $20,000
Office space $750,000
Single family homes No residential inventories on tax rolls
Apartments $35,000
Storage center $30,000
Retail shopping center $6,875,000
Fast food or restaurant pad sites $160,000
15 acre resort RV park $15,000
Subtotal inventories $7,885,000
Total property to be added to local tax rolls:
Land and real property improvements $374,137,500
Business FF&E $14,185,000
Business inventories $7,885,000
The development's total property to be added to tax rolls $396,207,500
Impact DataSource Page 26
Appendix E
Summary of Economic Impacts
Impact DataSource Page 27
The facility's property to be added to tax rolls each year:
Property to be added to tax rolls each year
Buildings and
Other Real
Property
Land Improvements FF&E Total
Year 1 $0 $66,000,000 $125,000 $66,125,000
Year 2 $0 $0 $0 $0
Year 3 $0 $0 $0 $0
Year 4 $0 $101,552,917 $5,539,500 $107,092,417
Year 5 $0 $19,855,000 $1,052,000 $20,907,000
Year 6 $0 $83,402,917 $5,239,500 $88,642,417
Year 7 $0 $19,855,000 $1,052,000 $20,907,000
Year 8 $0 $71,371,667 $1,177,000 $72,548,667
Year 9 $0 $12,100,000 $0 $12,100,000
Year 10 $0 $0 $0 $0
Total $0 $374,137,500 $14,185,000 $388,322,500
The facility's taxable inventories:
Year 1 $18,750
Year 2 $33,750
Year 3 $33,750
Year 4 $3,699,333
Year 5 $3,855,333
Year 6 $7,510,917
Year 7 $7,666,917
Year 8 $7,885,000
Year 9 $7,885,000
Year 10 $7,885,000
Estimated annual increase in the volume and value of inventories after year 10 3%
Impact DataSource Page 28
Activities During the Facility's Operations:
The facility's taxable sales subject to sales tax in the city:
Year 1 $1,277,500
Year 2 $2,502,500
Year 3 $3,727,500
Year 4 $25,555,833
Year 5 $26,755,833
Year 6 $47,291,667
Year 7 $47,291,667
Year 8 $50,640,000
Year 9 $50,640,000
Year 10 $50,640,000
Expected annual increase in taxable sales after the first year after year 10 3%
Lodging sales at hotels in the development:
Year 1 $2,737,500
Year 2 $2,819,625
Year 3 $3,388,249
Year 4 $6,979,794
Year 5 $7,189,188
Year 6 $7,404,863
Year 7 $7,627,009
Year 8 $7,855,819
Year 9 $8,091,494
Year 10 $8,334,239
Expected annual increase in lodging sales after the first year after year 10 3%
Estimated spending by businesses in the development in other local businesses:
Year 1 $127,750
Year 2 $250,250
Year 3 $372,750
Year 4 $2,555,583
Year 5 $2,675,583
Year 6 $4,729,167
Year 7 $4,729,167
Year 8 $5,064,000
Year 9 $5,064,000
Year 10 $5,064,000
Expected annual increase in taxable purchases after year 10 3%
Impact DataSource Page 29
Estimated taxable spending by single family and multifamily residents in the development:
Number of households each year:
Nr. SF Nr. MF
Households Households
Year 1 0 300
Year 2 0 300
Year 3 0 300
Year 4 0 600
Year 5 40 600
Year 6 80 900
Year 7 120 900
Year 8 160 1200
Year 9 200 1200
Year 10 200 1200
Average household income:
SF MF
Year 1 $95,000 $85,000
Year 2 $96,900 $86,700
Year 3 $98,838 $88,434
Year 4 $100,815 $90,203
Year 5 $102,831 $92,007
Year 6 $104,888 $93,847
Year 7 $106,985 $95,724
Year 8 $109,125 $97,638
Year 9 $111,308 $99,591
Year 10 $113,534 $101,583
Annual increase after year 1 2%
Estimated taxable spending as a percent of household income 26%
Estimated percent of taxable spending in other businesses in 15%
Port Arthur
Impact DataSource Page 30
Estimated taxable spending by residents in the development in
other businesses in Port Arthur:
SF MF Total
Year 1 $0 $994,500 $994,500
Year 2 $0 $1,014,390 $1,014,390
Year 3 $0 $1,034,678 $1,034,678
Year 4 $0 $2,110,743 $2,110,743
Year 5 $160,416 $2,152,958 $2,313,374
Year 6 $327,250 $3,294,025 $3,621,275
Year 7 $500,692 $3,359,906 $3,860,597
Year 8 $680,941 $4,569,472 $5,250,412
Year 9 $868,200 $4,660,861 $5,529,061
Year 10 $885,564 $4,754,078 $5,639,642
Number of jobs to be created in the development each year:
Year 1 37
Year 2 0
Year 3 0
Year 4 257
Year 5 101
Year 6 222
Year 7 100
Year 8 0
Year 9 0
Year 10 0
Total 717
Number of new workers who will move to the city to take job at the facility:
Estimated percent of total new workers moving to the city 25%
Year 1 9
Year 2 0
Year 3 0
Year 4 64
Year 5 25
Year 6 56
Year 7 25
Year 8 0
Year 9 0
Year 10 0
Total 179
Impact DataSource Page 31
Average annual salaries $45,000
Percent of expected increase in employee salaries after year 1 2.5%
Percent employees to be hired in spin-off jobs created at the facility 8%
who will move to the city to take a job
The number of people in a typical worker's household 3
The number of school children in a typical worker's household 0.75
Percent of retail shopping by a typical worker other businesses in the city 15%
Impact DataSource Page 32
Appendix F
Schedules Showing the Results of Economic Impact Calculations
Impact DataSource Page 33
Number of local jobs added each year and worker salaries to be paid:
Direct Indirect Total Direct Indirect Total
Year Jobs Jobs Jobs Salaries Salaries Salaries
1 37 11 48 $1,665,000 $363,470 $2,028,470
2 0 0 0 $1,706,625 $372,556 $2,079,181
3 0 0 0 $1,749,291 $381,870 $2,131,161
4 257 80 337 $14,255,340 $3,111,941 $17,367,280
5 101 31 132 $19,628,553 $4,284,913 $23,913,466
6 222 69 291 $31,430,520 $6,861,283 $38,291,803
7 100 31 131 $37,434,904 $8,172,039 $45,606,943
8 0 0 0 $38,370,776 $8,376,340 $46,747,117
9 0 0 0 $39,330,046 $8,585,749 $47,915,794
10 0 0 0 $40,313,297 $8,800,393 $49,113,689
11 0 0 0 $41,321,129 $9,020,402 $50,341,532
12 0 0 0 $42,354,157 $9,245,913 $51,600,070
13 0 0 0 $43,413,011 $9,477,060 $52,890,072
14 0 0 0 $44,498,337 $9,713,987 $54,212,323
15 0 0 0 $45,610,795 $9,956,837 $55,567,631
16 0 0 0 $46,751,065 $10,205,757 $56,956,822
17 0 0 0 $47,919,841 $10,460,901 $58,380,743
18 0 0 0 $49,117,837 $10,722,424 $59,840,261
19 0 0 0 $50,345,783 $10,990,485 $61,336,268
20 0 0 0 $51,604,428 $11,265,247 $62,869,675
Total 717 222 939 $688,820,734 $150,369,566 $839,190,301
Impact DataSource Page 34
Cumulative number of residents in the development and their children who will attend local public schools:
Cumulative Cumulative Cumulative
Number of Number of Number of
Households Residents Students
in the in the in the
Year DevelopmentDevelopment Development
1 300 900 225
2 300 900 225
3 300 900 225
4 600 1800 450
5 640 1920 480
6 980 2940 735
7 1020 3060 765
8 1360 4080 1,020
9 1400 4200 1,050
10 1400 4200 1,050
11 1400 4200 1,050
12 1400 4200 1,050
13 1400 4200 1,050
14 1400 4200 1,050
15 1400 4200 1,050
16 1400 4200 1,050
17 1400 4200 1,050
18 1400 4200 1,050
19 1400 4200 1,050
20 1400 4200 1,050
Impact DataSource Page 35
Local taxable spending on which sales taxes will be collected:
Taxable
Direct and Purchases Spending
Indirect by Businesses by Residents
Workers' in the in the
Spending Taxable Development Development
in Other Areas Sales at the in Other Areas in Other Areas
Year of the City Facility of the City of the City Total
1 $79,110 $1,277,500 $127,750 $994,500 $2,478,860
2 $81,088 $2,502,500 $250,250 $1,014,390 $3,848,228
3 $83,115 $3,727,500 $372,750 $1,034,678 $5,218,043
4 $677,324 $25,555,833 $2,555,583 $2,110,743 $30,899,483
5 $932,625 $26,755,833 $2,675,583 $2,313,374 $32,677,416
6 $1,493,380 $47,291,667 $4,729,167 $3,621,275 $57,135,488
7 $1,778,671 $47,291,667 $4,729,167 $3,860,597 $57,660,101
8 $1,823,138 $50,640,000 $5,064,000 $5,250,412 $62,777,550
9 $1,868,716 $50,640,000 $5,064,000 $5,529,061 $63,101,777
10 $1,915,434 $50,640,000 $5,064,000 $5,639,642 $63,259,076
11 $1,963,320 $52,159,200 $5,215,920 $5,752,435 $65,090,874
12 $2,012,403 $53,723,976 $5,372,398 $5,867,483 $66,976,260
13 $2,062,713 $55,335,695 $5,533,570 $5,984,833 $68,916,811
14 $2,114,281 $56,995,766 $5,699,577 $6,104,530 $70,914,153
15 $2,167,138 $58,705,639 $5,870,564 $6,226,620 $72,969,961
16 $2,221,316 $60,466,808 $6,046,681 $6,351,153 $75,085,958
17 $2,276,849 $62,280,813 $6,228,081 $6,478,176 $77,263,919
18 $2,333,770 $64,149,237 $6,414,924 $6,607,739 $79,505,670
19 $2,392,114 $66,073,714 $6,607,371 $6,739,894 $81,813,094
20 $2,451,917 $68,055,925 $6,805,593 $6,874,692 $84,188,127
Total $32,728,422 $904,269,274 $90,426,927 $94,356,226 $1,027,424,623
Impact DataSource Page 36
Lodging sales at hotels in the development on which hotel occupancy taxes will be collected:
Lodging
Year Sales
1 $2,737,500
2 $2,819,625
3 $3,388,249
4 $6,979,794
5 $7,189,188
6 $7,404,863
7 $7,627,009
8 $7,855,819
9 $8,091,494
10 $8,334,239
11 $8,584,266
12 $8,841,794
13 $9,107,048
14 $9,380,259
15 $9,661,667
16 $9,951,517
17 $10,250,062
18 $10,557,564
19 $10,874,291
20 $11,200,520
Total $160,836,768
Impact DataSource Page 37
Taxable value of property in the development on local tax rolls:
Value of
Property at
the Facility Total
on Local Taxable
Year Tax Rolls Property
1 $66,131,250 $66,131,250
2 $67,443,750 $67,443,750
3 $68,778,900 $68,778,900
4 $180,898,978 $180,898,978
5 $204,274,681 $204,274,681
6 $299,694,671 $299,694,671
7 $324,682,971 $324,682,971
8 $402,198,543 $402,198,543
9 $420,478,920 $420,478,920
10 $427,173,078 $427,173,078
11 $434,265,790 $434,265,790
12 $442,084,791 $442,084,791
13 $450,184,850 $450,184,850
14 $458,988,306 $458,988,306
15 $468,080,075 $468,080,075
16 $477,476,395 $477,476,395
17 $487,063,384 $487,063,384
18 $496,844,937 $496,844,937
19 $506,825,031 $506,825,031
20 $517,007,723 $517,007,723
Impact DataSource Page 38
Appendix G
Schedules Showing the Results of Costs and Benefits Calculations
Impact DataSource Page 39
Costs and Benefits for the City of Port Arthur:
Benefits:
Sales tax collections:
Taxable
Direct and Purchases Spending
Indirect by Businesses by Residents
Workers' in the in the
Spending Taxable Development Development
in Other Areas Sales at the in Other Areas in Other Areas
Year of the City Facility of the City of the City Total
1 $1,187 $19,163 $1,916 $14,918 $37,183
2 $1,216 $37,538 $3,754 $15,216 $57,723
3 $1,247 $55,913 $5,591 $15,520 $78,271
4 $10,160 $383,338 $38,334 $31,661 $463,492
5 $13,989 $401,338 $40,134 $34,701 $490,161
6 $22,401 $709,375 $70,938 $54,319 $857,032
7 $26,680 $709,375 $70,938 $57,909 $864,902
8 $27,347 $759,600 $75,960 $78,756 $941,663
9 $28,031 $759,600 $75,960 $82,936 $946,527
10 $28,732 $759,600 $75,960 $84,595 $948,886
11 $29,450 $782,388 $78,239 $86,287 $976,363
12 $30,186 $805,860 $80,586 $88,012 $1,004,644
13 $30,941 $830,035 $83,004 $89,772 $1,033,752
14 $31,714 $854,936 $85,494 $91,568 $1,063,712
15 $32,507 $880,585 $88,058 $93,399 $1,094,549
16 $33,320 $907,002 $90,700 $95,267 $1,126,289
17 $34,153 $934,212 $93,421 $97,173 $1,158,959
18 $35,007 $962,239 $96,224 $99,116 $1,192,585
19 $35,882 $991,106 $99,111 $101,098 $1,227,196
20 $36,779 $1,020,839 $102,084 $103,120 $1,262,822
Total $490,926 $13,564,039 $1,356,404 $1,415,343 $16,826,713
Impact DataSource Page 40
Property tax collections on property in the Development
Taxes
Year Collected
1 $523,760
2 $534,155
3 $544,729
4 $1,432,720
5 $1,617,855
6 $2,373,582
7 $2,571,489
8 $3,185,412
9 $3,330,193
10 $3,383,211
11 $3,439,385
12 $3,501,312
13 $3,565,464
14 $3,635,187
15 $3,707,194
16 $3,781,613
17 $3,857,542
18 $3,935,012
19 $4,014,054
20 $4,094,701
Total $57,028,570
Impact DataSource Page 41
Utilities and utility franchise fees collected by the city from businesses and residents
in the development:
Utility
Franchise
Year Utilities Fees Total
1 $449,099 $109,773 $558,872
2 $458,081 $111,968 $570,049
3 $467,243 $114,208 $581,450
4 $1,076,305 $263,124 $1,339,428
5 $1,217,447 $297,643 $1,515,090
6 $1,908,619 $466,624 $2,375,243
7 $2,011,298 $491,723 $2,503,021
8 $2,610,796 $638,251 $3,249,047
9 $2,730,124 $667,419 $3,397,544
10 $2,784,727 $680,768 $3,465,494
11 $2,840,421 $694,383 $3,534,804
12 $2,897,230 $708,271 $3,605,500
13 $2,955,174 $722,436 $3,677,610
14 $3,014,278 $736,885 $3,751,163
15 $3,074,563 $751,623 $3,826,186
16 $3,136,054 $766,655 $3,902,710
17 $3,198,776 $781,988 $3,980,764
18 $3,262,751 $797,628 $4,060,379
19 $3,328,006 $813,580 $4,141,587
20 $3,394,566 $829,852 $4,224,418
Total $46,815,556 $11,444,803 $58,260,359
Impact DataSource Page 42
Hotel occupancy taxes and other taxes and user fees collected from businesses and residents in
the development:
Hotel Other
Occupancy Taxes and Total Other
Year Taxes User Fees Revenues
1 $191,625 $100,366 $291,991
2 $197,374 $102,373 $299,747
3 $237,177 $104,421 $341,598
4 $488,586 $240,588 $729,174
5 $503,243 $272,156 $775,399
6 $518,340 $426,667 $945,007
7 $533,891 $449,615 $983,506
8 $549,907 $583,584 $1,133,492
9 $566,405 $610,253 $1,176,658
10 $583,397 $622,458 $1,205,855
11 $600,899 $634,908 $1,235,806
12 $618,926 $647,606 $1,266,531
13 $637,493 $660,558 $1,298,051
14 $656,618 $673,769 $1,330,387
15 $676,317 $687,244 $1,363,561
16 $696,606 $700,989 $1,397,595
17 $717,504 $715,009 $1,432,513
18 $739,029 $729,309 $1,468,339
19 $761,200 $743,895 $1,505,096
20 $784,036 $758,773 $1,542,810
Total $11,258,574 $10,464,543 $21,723,116
Impact DataSource Page 43
Costs:
The costs of providing municipal services and utility services to the development:
Cost of
Services to
the Costs of
Year Development Utilities Total Costs
1 $217,035 $449,099 $666,134
2 $211,752 $458,081 $669,833
3 $215,987 $467,243 $683,230
4 $440,614 $1,076,305 $1,516,918
5 $479,388 $1,217,447 $1,696,835
6 $748,743 $1,908,619 $2,657,362
7 $794,890 $2,011,298 $2,806,188
8 $1,081,051 $2,610,796 $3,691,847
9 $1,135,104 $2,730,124 $3,865,228
10 $1,157,806 $2,784,727 $3,942,532
11 $1,180,962 $2,840,421 $4,021,383
12 $1,204,581 $2,897,230 $4,101,811
13 $1,228,673 $2,955,174 $4,183,847
14 $1,253,246 $3,014,278 $4,267,524
15 $1,278,311 $3,074,563 $4,352,874
16 $1,303,877 $3,136,054 $4,439,932
17 $1,329,955 $3,198,776 $4,528,730
18 $1,356,554 $3,262,751 $4,619,305
19 $1,383,685 $3,328,006 $4,711,691
20 $1,411,359 $3,394,566 $4,805,925
Total $19,413,572 $46,815,556 $66,229,127
Impact DataSource Page 44
Net Benefits for the City of Port Arthur:
Net Cumulative
Year Benefits Costs Benefits Net Benefits
1 $1,411,805 $666,134 $745,671 $745,671
2 $1,461,674 $669,833 $791,841 $1,537,513
3 $1,546,048 $683,230 $862,819 $2,400,331
4 $3,964,814 $1,516,918 $2,447,896 $4,848,228
5 $4,398,506 $1,696,835 $2,701,671 $7,549,899
6 $6,550,864 $2,657,362 $3,893,502 $11,443,401
7 $6,922,917 $2,806,188 $4,116,729 $15,560,130
8 $8,509,614 $3,691,847 $4,817,768 $20,377,898
9 $8,850,921 $3,865,228 $4,985,693 $25,363,591
10 $9,003,446 $3,942,532 $5,060,914 $30,424,505
11 $9,186,359 $4,021,383 $5,164,976 $35,589,481
12 $9,377,987 $4,101,811 $5,276,176 $40,865,657
13 $9,574,878 $4,183,847 $5,391,031 $46,256,688
14 $9,780,449 $4,267,524 $5,512,926 $51,769,614
15 $9,991,490 $4,352,874 $5,638,616 $57,408,230
16 $10,208,207 $4,439,932 $5,768,276 $63,176,506
17 $10,429,778 $4,528,730 $5,901,048 $69,077,553
18 $10,656,315 $4,619,305 $6,037,010 $75,114,563
19 $10,887,933 $4,711,691 $6,176,242 $81,290,805
20 $11,124,751 $4,805,925 $6,318,826 $87,609,631
Total $153,838,758 $66,229,127 $87,609,631
Impact DataSource Page 45
Benefits for Jefferson County:
Sales tax collections on spending:
Taxable
Direct and Purchases Spending
Indirect by Businesses by Residents
Workers' in the in the
Spending Taxable Development Development
in Other Areas Sales at the in Other Areas in Other Areas
Year of the City Facility of the City of the City Total
1 $396 $6,388 $639 $4,973 $12,394
2 $405 $12,513 $1,251 $5,072 $19,241
3 $416 $18,638 $1,864 $5,173 $26,090
4 $3,387 $127,779 $12,778 $10,554 $154,497
5 $4,663 $133,779 $13,378 $11,567 $163,387
6 $7,467 $236,458 $23,646 $18,106 $285,677
7 $8,893 $236,458 $23,646 $19,303 $288,301
8 $9,116 $253,200 $25,320 $26,252 $313,888
9 $9,344 $253,200 $25,320 $27,645 $315,509
10 $9,577 $253,200 $25,320 $28,198 $316,295
11 $9,817 $260,796 $26,080 $28,762 $325,454
12 $10,062 $268,620 $26,862 $29,337 $334,881
13 $10,314 $276,678 $27,668 $29,924 $344,584
14 $10,571 $284,979 $28,498 $30,523 $354,571
15 $10,836 $293,528 $29,353 $31,133 $364,850
16 $11,107 $302,334 $30,233 $31,756 $375,430
17 $11,384 $311,404 $31,140 $32,391 $386,320
18 $11,669 $320,746 $32,075 $33,039 $397,528
19 $11,961 $330,369 $33,037 $33,699 $409,065
20 $12,260 $340,280 $34,028 $34,373 $420,941
Total $163,642 $4,521,346 $452,135 $471,781 $5,608,904
Impact DataSource Page 46
Miscellaneous taxes and user fees to be collected from new residents:
Misc. Taxes
and User
Year Fees
1 $30,300
2 $30,906
3 $31,524
4 $64,309
5 $69,968
6 $109,282
7 $116,017
8 $157,783
9 $165,673
10 $168,986
11 $172,366
12 $175,813
13 $179,329
14 $182,916
15 $186,574
16 $190,306
17 $194,112
18 $197,994
19 $201,954
20 $205,993
Total $2,832,107
Impact DataSource Page 47
Property tax collections on property in the development:
Taxes
Year Collected
1 $241,364
2 $246,154
3 $251,027
4 $660,240
5 $745,556
6 $1,093,817
7 $1,185,018
8 $1,467,932
9 $1,534,651
10 $1,559,083
11 $1,584,970
12 $1,613,508
13 $1,643,071
14 $1,675,202
15 $1,708,385
16 $1,742,679
17 $1,777,669
18 $1,813,370
19 $1,849,795
20 $1,886,959
Total $26,280,450
Impact DataSource Page 48
Costs of providing county services to new residents:
Costs of
County
Year Services
1 $46,200
2 $47,124
3 $48,066
4 $98,056
5 $106,685
6 $166,628
7 $176,898
8 $240,581
9 $252,610
10 $257,662
11 $262,815
12 $268,072
13 $273,433
14 $278,902
15 $284,480
16 $290,169
17 $295,973
18 $301,892
19 $307,930
20 $314,088
Total $4,318,262
Impact DataSource Page 49
Total Benefits for the County:
Cumulative
Net Net
Year Benefits Costs Benefits Benefits
1 $284,058 $46,200 $237,858 $237,858
2 $296,301 $47,124 $249,177 $487,035
3 $308,642 $48,066 $260,575 $747,610
4 $879,046 $98,056 $780,991 $1,528,601
5 $978,911 $106,685 $872,227 $2,400,828
6 $1,488,776 $166,628 $1,322,148 $3,722,976
7 $1,589,336 $176,898 $1,412,438 $5,135,414
8 $1,939,603 $240,581 $1,699,023 $6,834,437
9 $2,015,833 $252,610 $1,763,223 $8,597,660
10 $2,044,365 $257,662 $1,786,703 $10,384,363
11 $2,082,790 $262,815 $1,819,975 $12,204,338
12 $2,124,202 $268,072 $1,856,131 $14,060,469
13 $2,166,985 $273,433 $1,893,552 $15,954,021
14 $2,212,688 $278,902 $1,933,787 $17,887,807
15 $2,259,809 $284,480 $1,975,329 $19,863,137
16 $2,308,415 $290,169 $2,018,245 $21,881,382
17 $2,358,101 $295,973 $2,062,128 $23,943,510
18 $2,408,892 $301,892 $2,107,000 $26,050,510
19 $2,460,814 $307,930 $2,152,884 $28,203,395
20 $2,513,893 $314,088 $2,199,805 $30,403,199
Total $34,721,461 $4,318,262 $30,403,199
Impact DataSource Page 50
Costs and Benefits for the Port Arthur ISD:
Benefits, including property taxes and additional state and federal school funding:
Property Additional
Taxes from State
Property in School
Year the Project Funding Total
1 $1,049,106 $1,017,900 $2,067,006
2 $1,069,928 $1,048,437 $2,118,365
3 $1,091,108 $1,079,890 $2,170,999
4 $2,869,781 $2,224,574 $5,094,355
5 $3,240,614 $2,444,065 $5,684,678
6 $4,754,356 $3,854,749 $8,609,105
7 $5,150,771 $4,132,448 $9,283,218
8 $6,380,478 $5,675,228 $12,055,706
9 $6,670,478 $6,017,411 $12,687,889
10 $6,776,674 $6,197,934 $12,974,607
11 $6,889,192 $6,383,872 $13,273,064
12 $7,013,233 $6,575,388 $13,588,621
13 $7,141,732 $6,772,649 $13,914,382
14 $7,281,390 $6,975,829 $14,257,219
15 $7,425,622 $7,185,104 $14,610,726
16 $7,574,686 $7,400,657 $14,975,342
17 $7,726,774 $7,622,677 $15,349,450
18 $7,881,948 $7,851,357 $15,733,305
19 $8,040,272 $8,086,898 $16,127,170
20 $8,201,811 $8,329,504 $16,531,315
Total $114,229,954 $106,876,569 $221,106,523
Impact DataSource Page 51
Costs of educating children of tenants in the development:
Cost of
Educating
Students in the
Year Development
1 $956,250
2 $984,938
3 $1,014,486
4 $2,089,840
5 $2,296,038
6 $3,621,282
7 $3,882,163
8 $5,331,503
9 $5,652,961
10 $5,822,550
11 $5,997,227
12 $6,177,144
13 $6,362,458
14 $6,553,332
15 $6,749,932
16 $6,952,430
17 $7,161,002
18 $7,375,833
19 $7,597,108
20 $7,825,021
Total $100,403,496
Impact DataSource Page 52
Reduction in State aid to the school district as a result of property in the development
being added to the school district's tax rolls:
Reduction in
State Aid for the
Year School District
1 $718,450
2 $732,709
3 $747,214
4 $1,965,286
5 $2,219,240
6 $3,255,883
7 $3,527,356
8 $4,369,485
9 $4,568,083
10 $4,640,808
11 $4,717,864
12 $4,802,809
13 $4,890,808
14 $4,986,449
15 $5,085,222
16 $5,187,304
17 $5,291,457
18 $5,397,723
19 $5,506,147
20 $5,616,772
Total $78,227,069
Impact DataSource Page 53
Net Benefits for the School District:
Net Cumulative
Year Benefits Costs Benefits Net Benefits
1 $2,067,006 $1,674,700 $392,306 $392,306
2 $2,118,365 $1,717,646 $400,718 $793,025
3 $2,170,999 $1,761,700 $409,299 $1,202,323
4 $5,094,355 $4,055,127 $1,039,228 $2,241,552
5 $5,684,678 $4,515,278 $1,169,400 $3,410,952
6 $8,609,105 $6,877,165 $1,731,940 $5,142,891
7 $9,283,218 $7,409,518 $1,873,700 $7,016,592
8 $12,055,706 $9,700,988 $2,354,718 $9,371,310
9 $12,687,889 $10,221,044 $2,466,844 $11,838,154
10 $12,974,607 $10,463,359 $2,511,249 $14,349,403
11 $13,273,064 $10,715,090 $2,557,974 $16,907,376
12 $13,588,621 $10,979,953 $2,608,668 $19,516,044
13 $13,914,382 $11,253,266 $2,661,116 $22,177,160
14 $14,257,219 $11,539,781 $2,717,439 $24,894,599
15 $14,610,726 $11,835,154 $2,775,572 $27,670,171
16 $14,975,342 $12,139,733 $2,835,609 $30,505,780
17 $15,349,450 $12,452,459 $2,896,991 $33,402,771
18 $15,733,305 $12,773,556 $2,959,749 $36,362,520
19 $16,127,170 $13,103,255 $3,023,915 $39,386,435
20 $16,531,315 $13,441,793 $3,089,522 $42,475,958
Total $221,106,523 $178,630,565 $42,475,958
Impact DataSource Page 54
Benefits for Port of Port Arthur
Property tax collections from the development:
Taxes
Year Collected
1 $122,650
2 $125,084
3 $127,560
4 $335,502
5 $378,856
6 $555,826
7 $602,170
8 $745,934
9 $779,837
10 $792,252
11 $805,407
12 $819,908
13 $834,931
14 $851,258
15 $868,120
16 $885,547
17 $903,327
18 $921,468
19 $939,978
20 $958,863
Total $13,354,478
Impact DataSource Page 55
Benefits for Sabine-Neches Navigation District
Property tax collections from the development:
Taxes
Year Collected
1 $59,800
2 $60,987
3 $62,194
4 $163,580
5 $184,717
6 $271,002
7 $293,598
8 $363,692
9 $380,222
10 $386,276
11 $392,689
12 $399,760
13 $407,084
14 $415,045
15 $423,266
16 $431,763
17 $440,432
18 $449,277
19 $458,302
Total $6,043,684
Impact DataSource Page 56
Benefits for Drainage District # 7
Property tax collections:
Taxes
Year Collected
1 $195,081
2 $198,952
3 $202,891
4 $533,634
5 $602,590
6 $884,069
7 $957,782
8 $1,186,445
9 $1,240,371
10 $1,260,118
11 $1,281,041
12 $1,304,106
13 $1,328,000
14 $1,353,970
15 $1,380,789
16 $1,408,508
17 $1,436,788
18 $1,465,643
19 $1,495,083
20 $1,525,121
Total $21,240,982
Impact DataSource Page 57