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Page 12 of 13 <br /> <br /> <br />Development Related Revenue Scenario <br />The fourth scenario assumes an increase in property tax and permit revenues based on the <br />projected completion of planned development projects. Assumptions include the following: <br />• The property tax will increase at varying rates higher than the baseline numbers each <br />year, ranging from 3.7 percent to 5.5 percent. <br />• One-time permit-related revenues in the forecasted period are estimated to be $9.02 <br />million. <br />• Please note that development projects can be delayed or even cancelled for various <br />reasons. Staff made reasonable estimates for each project based on the information <br />available at the time. In addition, the City’s resource needs to support additional <br />services and infrastructure from the completed development projects have not yet been <br />built into the expenditure estimate. <br /> <br />Based on these assumptions, the projected ten-year numbers are shown below. <br /> <br /> <br />Four Scenario Comparison <br />Below is the table and chart showing the projected surplus (or deficit) numbers for the forecast <br />period. As mentioned previously, the fourth scenario, based on development activities, will <br />require additional City resources, both personnel and non-personnel, to adequately support <br />and maintain the new infrastructure. <br /> <br /> <br /> <br /> <br /> <br />The City’s expenditures are expected to continue outpacing revenues for the next several <br />Page 81 of 144