Rock Spring Acquisition Analysis.pdf

Rock Spring Acquisition Preliminary Plan & Financial Analysis 2/14/2019 137.9 Acres Assumptions Acreage Allocation 15 Year 1 ‐ Avg Home Assessments 338,560.62 Cost Allocation 1,310,769 Years Amortized 40 Year 2 100,000 Rock Spring Assessments 14,500,000 Development Density 10 Years 3‐10 150,000 All Properties Assessments 5,593,516,832 Development Potential 150 2018 Tax Rate 4.038 Lot Value/unit 50,000 Rock Spring 2018 Taxes 585,510 Improvement Value 200,000 Total New Rateable 37,500,000 Cost of Issuance ‐ Bond Council 20,000 Title Insurance 27,000 Cost of Issuance ‐ Financial Advisor 12,000 Remainder of 2019 Taxes 390,340 Acreage Allocation 3 Cost of Issuance ‐ Auditor 7,500 Recording Fees 500 Cost Allocation 262,154 Miscellaneous 5,000 Legal Fees 125,000 Section 20 Costs 20,000 LSRP 40,000 Acreage Allocation 119.9 Taxable Issue Interest Rate 2.75% Appraisals, Purchase & Green Acres 20,000 Cost Allocation 10,477,417 Engineering Costs 100,000 Green Acres Acreage Revenue from Golf Operator Rock Spring Transaction Costs Developable Acreage DPW Acreage Zero Down Current Rock Spring DataMortgage Terms