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HomeMy WebLinkAbout2025 March LID Cost Analysis- For Work Meeting on Tuesday March 25thTotal LID Costs * LID 40 LID 41 LID 42 LID 43 LID 44 LID 45 LID 46 LID 47 LID 48 LID 49 LID 50 LID 51 LID 52 LID 53 LID 54 Estimated Total Percent of Total Average-12 LID's Average-Last 4 LID's Count of Residential Properties Average Cost per Resident- 15 LID's Average Cost per Resident- Last 4 LID's ESTIMATED AMOUNTS-NOT FINALIZED *Voluntary amounts removed City Costs 49826.8137 857446.9425 787251.3579 1294692.2069 930601.9881 559224.365 1416900 1387400 1738675.7664 1402100 1998900 2011400 3102600 3218747 3536300 24292066.4406 0.845053454488338 1202868.2867 1787768.9416 Residential 16304.2286 0 128879.8727 72067.3934 1592.878 93852.5218 40905.47 110166.51 276947.21 32800 264099.78 611879.03 210597.14 39877.9672 1899970.0017 6.60946740502865E-02 137457.9079 296431.505 Residential Count 12 1 44 40 1 29 18 42 72 10 45 69 23 11 417 31.9166666666667 49 417 4556.283 6049.6226 Commercial 383984.9982 104321.1864 52438.8275 89410.2319 106119.5939 28131.2503 27016.81 133624.792 72406.88 32700 92988.58 5506.67 347202.86 80800.0228 1556652.7029 5.41516197181073E-02 94054.1517 50900.5325 New Sidewalk & Driveway 57292.9812 157595.553733333 104615.48776 34681.136 367392.648 721577.8067 Total Cost 450116.0405 961768.1289 968570.0581 1456169.8322 1038314.46 681208.1371 1484822.28 1631191.302 2088029.8564 1467600 2355988.36 2628785.7 3660400 3339424.99 4533800 28746189.1453 1 1434380.3463 2135100.9791 Total Property Owner 400289.2268 104321.1864 181318.7002 161477.6253 107712.4719 121983.7721 67922.28 243791.302 349354.09 65500 357088.36 617385.7 557800 120677.99 997500 4454122.7047 0.154946545511662 231512.0596 347332.0375 Percentage Of Cost Paid by Property Owner 0.889302292619357 0.108468125757973 0.187202462717893 0.11089202767757 0.103737813590692 0.179069751920053 4.57443836308814E-02 0.149455984531727 0.167312784790504 4.46306895611883E-02 0.151566266651674 0.234855849984272 0.152387717189378 3.61373560901573E-02 0.220014116193921 0.154946545511662 Average Fiscal Year 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2022 2022 Discretionary Street Carryover at Fiscal Year End Available for Street Projects (Fund 02,43,44) 778833 140991 -467761 1102656 1346716 1754928 3214182 2981753 1645816 1380849 2324100 -18500 1348713.5833 Average budgeted $850,000 for LID city cost projected $2,011,400 for LID city cost forecast LID -177300 forecast LID 158800 -18500 March 25th Work Meeting Analysis LID's 10 Years City Costs Total Residential Residential Count Commercial Property Owner Cost Total Total Cost Items to Remove New Sidewalk & Driveway & C&G Sewer Ashpalt Landscaping Property Owner Cost Excluding new Sidewalk/Driveway/C&G, Sewer, & Asphalt With City Share of 30% Participation 40 49826.8137408 16304.2286185204 12 383984.99816053 400289.22677905 450116.04051985 41 857446.942533333 0 1 104321.186354182 104321.186354182 961768.128887515 42 787251.3579 128879.87268509 44 52438.827504 181318.70018909 968570.05808909 43 1294692.2069 72067.3934 40 89410.23194 161477.62534 1456169.83224 44 930601.9881 1592.87800000001 1 106119.5939 107712.4719 1038314.46 45 559224.365 93852.52184 29 28131.25028 121983.77212 681208.13712 4715.2 117268.57212 152449.143756 46 1416900 40905.47 18 27016.81 67922.28 1484822.28 67922.28 88298.964 47 1387400 110166.51 42 133624.792 243791.302 1631191.302 24504.48 219286.822 285072.8686 48 1738675.7664 276947.21 72 72406.88 349354.09 2088029.8564 36467.2 9805.6 303081.29 394005.677 49 1402100 32800 10 32700 65500 1467600 380.8 65119.2 84654.96 50 1998900 264099.78 45 92988.58 357088.36 2355988.36 57292.9812 62720 729.12 32680.48 203665.7788 264765.51244 51 2011400 611879.03 69 5506.67 617385.7 2628785.7 157595.553733333 47456.64 0 10369.408 401964.098266667 522553.327746667 52 3102600 210597.14 23 347202.86 557800 3660400 104615.48776 83787.2 3408.16 16072 349917.15224 454892.297912 53 3218747 39877.9672 11 80800.0228 120677.99 3339424.99 34681.136 12544 0 0 73452.854 95488.7102 54 3536300 997500 4533800 367392.648 74480 48921.6 0 506705.752 658717.4776 10 YearTotal 20372247.1314 1899970.00174361 417 1556652.70293871 3499003.49412 23871250.62552 782549.486693333 295508.64 53439.68 59121.888 2308383.79942667 3000898.93925467 10 Year Average 2037224.71314 349900.349412 2387125.062552 111792.783813333 42215.52 8906.61333333333 11824.3776 230838.379942667 300089.893925467 3 Year Average 3285882.33333333 558659.33 3844541.66333333 168896.42392 56937.0666666667 17443.2533333333 5357.33333333333 310025.252746667 403032.828570667 10 Year Average % 0.853421860923394 0.146578139076606 1 3 Year Average % 0.85468766398655 0.14531233601345 1 Permanent Override Examples/Analysis 2024 City Code Levy (2025 Budget) Property Tax Budget-General Fund Calculated Assessed Value Permanent Override Budget Increase New Budget Assessed Value New Levy Rate Levy Increase Increase Cost/$100,000 of Assessed Value Examples of Cost over 30 Years Property Large Apartment Complex Townhouse Single Family Home-1800 sq ft' Single Family Home-5726 sq ft' Large Big Box Net Assessed Value (after HOE exemption) 28804700 323000 351105 848021 21853660 0.003128028 6932339 2216201069.8114 1000000 7932339 2216201069.8114 3.5792505960098E-03 4.51222596009803E-04 45.1223 Cost/Year 12997.3315 145.7449 158.4265 382.6462 9860.8652 Compounded 3% over 30 Year Cost 618353.4497 6933.8741 7537.2071 18204.5538 469134.761 General Fund Subsidies-4 Year FUND RECREATION 01 01 01 CULTURAL ARTS 01 01 01 01 POLICE 01 01 01 FIRE 01 01 01 PARKS AND TRAILS 01 01 01 AIRPORT-50% OWNER WITH COUNTY 01 01 01 GOLF-50% OWNER WITH COUNTY 01 01 FIBER-MOSTLY PAID BY GRANT 01 01 01 TOTAL SUBSIDIES FOR SERVICES ABOVE OTHER GENERAL FUND DEPARTMENTS FUND NET (EXPENSES LESS REVENUES) 01408 01410 01411 01412 01413 01414 01415 01416 01417 MISC. DEPT'S TOTAL OTHER GENERAL FUNDS NET EXPENSE TOTAL NET EXPENSES ALL GENERAL FUND DEPARTMENTS REVENUES 01411 01411 01411 01411 01411 NET ORG 01499 01499 01449 01499 01499 01499 01499 01499 01499 01420-01425 01499 01499 01499 01499 01499 01438-'01442 01499 01499 01499 01499 01499 01499 01499 01499 3870 3000-3004 3010 OBJECT 4903 4923 4904 4924 4940 4981 4908 4932 4916 4917 4918 4939 4941 4947 4948 4949 4950 4951 4982 4986 4983 ACCT DESCRIPTION FUND TFR -RECREATION PROGRAMS FUND TFR -R RAPIDS CAP REPLACE REC ADMIN NET FUND TFR -TABERNACLE FUND TFR -LEGACY FLIGHT MUSEUM FUND TFR -ROMANCE THEATER FUND TFR -REXBURG CULTURAL ART FUND TFR -DARE FUND TFR-NEW CITY/POL BLDG RES ALL POLICE DIVISIONS NET FUND TFR-FIRE STAT BLDG FUND TFR -JOINT FIRE OPERATION FUND TFR -JOINT FIRE EQUIP FUND TFR- TRAILS FUND FUND TFR-PARKS CAP RESERVE PARK OPERATIONS NET FUND TFR- AIRPORT OPERATIONS FUND TFR -AIRPORT CONSTRUCTION FUND TFR -AIRPORT RELO.RESERVE FUND TFR -GOLF OPERATIONS FUND TFR -GOLF DEBT SERVICE FUND TFR-FIBER RESERVE FUND TFR-FIBER OPER FUND TF-ENTREPRENEURIAL EFFORT BUILDING MAINTENANCE NET HUMAN RESOURCES NET MAYOR & COUNCIL EXPENSE ONLY ECONOMIC DEV./PUBLIC AFFAIRS NET CUSTOMER SERVICE NET INFORMATION TECHNOLOGY NET FINANCIAL MANAGEMENT NET LEGAL NET PLANNING AND ZONING NET MISC DEPT NET OVERHEAD CHARGES OTHER REVENUES PROPERTY TAX SALES TAX TOTAL REVENUES 2022 ACTUAL 122517.28 65004 345449 119892 15000 73801.81 48754.11 8500 400000 4362911 0 1313696.94 35000 30000 50004 776458 19986.66 7931.83 20004 49100 25000 3161912.45 72500 1000 11124423.08 55369 104018 382244 356509 297920 726409 1007487 301621 372898 57159 3661634 14786057.08 2212800 3805453 5961728 3695524 15675505 889447.919999998 2023 ACTUAL 78911.23 65004 316877 204598.97 15000 172472.84 151866.69 8500 400000 5166345 0 1491187.85 65004 30000 210727.4 901270 16000 7943.93 20004 50000 24996 0 183842.15 15000 9595551.06 58257 119161 398169 360112 339647 786501 1025353 314004 508211 100833 4010248 13605799.06 2020508 1398991 6381545 3845256 13646300 40500.9399999995 2024 ACTUAL 5727.63 25008 322109 986966.71 15000 225070.75 109186.87 8500 425004 6120420 0 1936658.67 64992 30000 100000 1037807 20000 32942.7 10008 25300 152654 0 0 0 11653355.33 118720 157107 453864 386799 379592 867797 1080536 337168 527858 57562 4367003 16020358.33 2199264 2106804 6721474 3901674 14929216 -1091142.33 2025 BUDGET 16400 20000 586200 400800 13000 76800 117800 6000 300000 6406800 85000 1818200 65000 10000 92600 993000 18500 22500 5000 0 60000 0 0 0 11113600 65800 167800 564500 444100 386900 982600 1147600 373900 490900 47100 4671200 15784800 2570100 2607400 7020100 3587200 15784800 0 4 YEAR TOTAL 223556.14 175016 1570635 1712257.68 58000 548145.4 427607.67 31500 1525004 22056476 85000 6559743.46 229996 100000 453331.4 3708535 74486.66 71318.46 55016 124400 262650 3161912.45 256342.15 16000 43486929.47 298146 548086 1798777 1547520 1404059 3363307 4260976 1326693 1899867 262654 16710085 60197014.47 9002672 9918648 26084847 15029654 60035821 -161193.469999999 AVERAGE PER YEAR 55889.035 43754 392658.75 428064.42 14500 137036.35 106901.9175 7875 381251 5514119 21250 1639935.865 57499 25000 113332.85 927133.75 18621.665 17829.615 13754 31100 65662.5 790478.1125 64085.5375 4000 10871732.3675 74536.5 137021.5 449694.25 386880 351014.75 840826.75 1065244 331673.25 474966.75 65663.5 4177521.25 15049253.6175 2250668 2479662 6521211.75 3757413.5 15008955.25 -40298.3674999997 TOTAL AVERAGE SUBSIDY/YEAR 492301.785 686502.6875 5903245 1718684.865 1065466.6 50205.28 96762.5 854563.65 4000 10871732.3675 74536.5 137021.5 449694.25 386880 351014.75 840826.75 1065244 331673.25 474966.75 65663.5 4177521.25 15049253.6175 2250668 2479662 6521211.75 3757413.5 15008955.25 -40298.3674999997 Street Carryover Amounts at Fiscal Year End Fund # 2 33 43 44 84 85 Total Carryover Reported to State 43 and 44 Future Projects in 5 Year Plan Net Fund Street Maintenance Street Impact Street Reconstruction New Street Construction 2nd E Moody Construction Street Lighting New Street and Street Reconstruction 2020 0 1645147 1041783 339066 0 331272 3357268 1380849 12237200 -10856351 2021 0 1810800 1803300 520800 0 493600 4628500 2324100 8231500 -5907400 2022 0 1913834 2038164 65 0 663886 4615949 2038229 6330000 -4291771 2023 0 2079431 2861458 872175 0 843413 6656477 3733633 10350000 -6616367 2024 0 2251793 3919835 834547 0 161069 7167244 4754382 13260000 -8505618 Average 0 1940201 2332908 513330.6 0 498648 5285087.6 2846238.6 10081740 -7235501.4