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Flagship Homes Fiscal Impact Analysis - Addendum
November 18, 2021 Pete Evans Flagship Homes 1250 E 200 S Suite 1D Lehi, UT 84043 Dear Mr. Evans, In light of the public testimony during the Planning and Zoning hearing held on November 17, 2021 and current economic conditions throughout the United States, Galena Consulting has elected to prepare an addendum to its Fiscal Impact Study prepared for Flagship Homes and presented to the City of Ammon. The Study contained a Net Present Value (NPV) calculation using a discount rate of 3% to reflect the Cash Flows received by the City over a 15 year time horizon. The 3% discount rate was selected for a number of reasons. First and foremost, a discount rate is used to reflect the internal cost of capital within an organization. Municipal entities are able to borrow (with voter approval) at rates well below normal market lending rates because of the tax-exempt nature of these bonds. As of 11/18/21, lending rates for 10-year municipal bonds are 1.13% and the Prime Lending Rate is currently 3.25%. Secondarily, municipal entities do not and cannot operate like a private enterprise. When inflation effects the costs of products at Walmart, Walmart simply raises their prices to maintain their profit margin. Municipalities do not have that luxury. Most of a municipality’s revenue is fixed and uncontrollable. When prices rise, it is constrained by its budget and requires cost containment measures or use of reserves to maintain balance. This becomes even more complicated when a jurisdiction does not have the budgetary authority to exceed their adopted budget. In these instances, the entity must have a full public hearing to increase their budget. Also, because of the inflexibility of their budgets, municipalities typically attempt to maintain annual increases in personal expenses in the 3% to 4% range and M&O expenditure increases in the 1% to 2% range. This equates to the general 3% discount rate used in the Study. Finally, a discount rate is generally not to be associated with inflation. However, even if inflation is being used as the metric for the NPV, it is calculated over a 15-year time horizon. Inflation has averaged at or below 3% since 1990. A recent spike in inflation within the last 3 months would not be sufficient justification for presuming that these rates will exist for the next few decades. Simple yet practical tests to evaluate a discount rate include current bank account savings yields and mortgage lending rates. While inflation is exceeding 6%, savings accounts and certificates of deposit are still paying dismal returns and 15-Year mortgage rates are roughly 2.5%. Mortgage rates are increasing but at a much slower pace than inflation. However, Galena Consulting always attempts to be extraordinarily conservative in their calculations to ensure both the developer and the municipality have reliable data in the event of market fluctuations. As such, Galena has recalculated the NPV using a 6 % discount rate and a 9% discount rate to provide Commissions, Councils and the public with more sensitivity to their concerns. Additionally, Galena raised the number of persons per household to 3.15 to match the figure in the Comprehensive Plan. Using the Cash Flow Summary presented in the report, the NPV for a 3% discount rate would be approximately $2.3M, $1.7M for a 6% rate and $1.2M for a 9% rate. All of these rates still result in a net positive return for the City. A revised financial model has been included with this Addendum. Galena would encourage you to share this Addendum with the City as part of your response to the citizen concerns. Sincerely, Ozzie Gripentrog Galena Consulting Flagship Homes ‐ Ammon, IdahoFiscal Impact AnalysisSummarySummary Financial Statements2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036RevenueProperty Tax 93,070 191,597 275,512 366,440 465,783 572,285 688,149 812,066 946,712 1,092,508 1,247,984 1,415,244 1,594,955 1,786,131 1,992,281Sales Tax 11,983 28,370 41,573 55,416 70,072 85,269 101,252 117,816 135,295 153,644 172,643 192,565 213,356 234,870 257,483Liquor Tax 8,756 20,716 30,295 40,296 50,858 61,773 73,240 85,097 97,623 110,791 123,958 137,591 151,926 166,928 182,474Total Revenue 113,808 240,683 347,379 462,153 586,713 719,327 862,641 1,014,979 1,179,630 1,356,942 1,544,585 1,745,401 1,960,238 2,187,930 2,432,239ExpendituresLegislative 308 738 1,093 1,474 1,884 2,317 2,780 3,270 3,793 4,353 4,942 5,571 6,241 6,946 7,696Executive 1,982 4,751 7,035 9,490 12,128 14,915 17,901 21,053 24,424 28,025 31,820 35,867 40,180 44,720 49,550Finance 1,916 4,593 6,800 9,173 11,722 14,416 17,303 20,349 23,608 27,089 30,757 34,670 38,838 43,226 47,895Clerk 3,059 7,333 10,857 14,647 18,717 23,018 27,627 32,491 37,694 43,252 49,109 55,356 62,012 69,018 76,472Planning & Zoning 2,375 5,692 8,428 11,370 14,530 17,868 21,446 25,222 29,261 33,575 38,121 42,970 48,137 53,576 59,363Engineering 3,153 7,558 11,190 15,096 19,290 23,723 28,473 33,487 38,849 44,577 50,614 57,052 63,912 71,132 78,815Parks & Rec Fund Tsfr 24,574 58,903 87,213 117,652 150,345 184,894 221,914 260,989 302,780 347,426 394,479 444,656 498,120 554,392 614,273Law Enforcement 28,757 68,932 102,063 137,688 175,949 216,381 259,706 305,436 354,340 406,587 461,649 520,370 582,941 648,799 718,877Subtotal 66,124 158,499 234,679 316,591 404,565 497,532 597,151 702,298 814,748 934,882 1,061,491 1,196,512 1,340,382 1,491,808 1,652,941Net Fund Balance 47,684 82,184 112,700 145,562 182,149 221,795 265,491 312,681 364,882 422,060 483,094 548,889 619,856 696,122 779,298Benefit/Cost Ratio 1.72 1.52 1.48 1.46 1.45 1.45 1.44 1.45 1.45 1.45 1.46 1.46 1.46 1.47 1.47NPV @ 3/6/9% Discount Rates 3,871,995 2,895,867 2,208,94511/18/2021Flagship Fiscal Impact ‐ AddendumPage 1 Flagship Homes ‐ Ammon, IdahoFiscal Impact AnalysisSummaryCash Flow Summary (Assuming One Year Lag in Property Taxes)2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036RevenueProperty Tax 93,070 191,597 275,512 366,440 465,783 572,285 688,149 812,066 946,712 1,092,508 1,247,984 1,415,244 1,594,955 1,786,131Sales Tax 11,983 28,370 41,573 55,416 70,072 85,269 101,252 117,816 135,295 153,644 172,643 192,565 213,356 234,870 257,483Other 8,756 20,716 30,295 40,296 50,858 61,773 73,240 85,097 97,623 110,791 123,958 137,591 151,926 166,928 182,474Total Revenue 20,739 142,156 263,464 371,224 487,370 612,825 746,777 891,062 1,044,985 1,211,146 1,389,109 1,578,140 1,780,527 1,996,754 2,226,089ExpendituresLegislative 308 738 1,093 1,474 1,884 2,317 2,780 3,270 3,793 4,353 4,942 5,571 6,241 6,946 7,696Executive 1,982 4,751 7,035 9,490 12,128 14,915 17,901 21,053 24,424 28,025 31,820 35,867 40,180 44,720 49,550Finance 1,916 4,593 6,800 9,173 11,722 14,416 17,303 20,349 23,608 27,089 30,757 34,670 38,838 43,226 47,895Clerk 3,059 7,333 10,857 14,647 18,717 23,018 27,627 32,491 37,694 43,252 49,109 55,356 62,012 69,018 76,472Planning & Zoning 2,375 5,692 8,428 11,370 14,530 17,868 21,446 25,222 29,261 33,575 38,121 42,970 48,137 53,576 59,363Engineering 3,153 7,558 11,190 15,096 19,290 23,723 28,473 33,487 38,849 44,577 50,614 57,052 63,912 71,132 78,815Parks & Rec Fund Tsfr 24,574 58,903 87,213 117,652 150,345 184,894 221,914 260,989 302,780 347,426 394,479 444,656 498,120 554,392 614,273Law Enforcement 28,757 68,932 102,063 137,688 175,949 216,381 259,706 305,436 354,340 406,587 461,649 520,370 582,941 648,799 718,877Subtotal 66,124 158,499 234,679 316,591 404,565 497,532 597,151 702,298 814,748 934,882 1,061,491 1,196,512 1,340,382 1,491,808 1,652,941Net Fund Balance (45,385) (16,343) 28,785 54,634 82,806 115,293 149,627 188,764 230,237 276,264 327,618 381,629 440,145 504,946 573,147Benefit/Cost Ratio 0.31 0.90 1.12 1.17 1.20 1.23 1.25 1.27 1.28 1.30 1.31 1.32 1.33 1.34 1.35NPV @ 3/6/9% Discount Rates 2,341,867 1,692,812 1,242,05511/18/2021Flagship Fiscal Impact ‐ AddendumPage 2 Flagship Homes ‐ Ammon, IdahoFiscal Impact AnalysisProfit/(Loss) by TypeS.F. NBHD @ 80% H.O.E. Summary2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036RevenueProperty Tax 36,517 74,915 107,719 142,853 181,166 222,129 266,654 314,165 365,806 421,696 481,183 544,446 612,683 685,155 763,171Sales Tax 4,456 10,550 15,459 20,607 26,057 31,708 37,652 43,811 50,311 57,135 64,200 71,608 79,340 87,340 95,749Liquor Tax 3,256 7,703 11,266 14,985 18,912 22,971 27,235 31,645 36,303 41,199 46,096 51,165 56,496 62,075 67,856Total Revenue 44,229 93,169 134,444 178,445 226,136 276,809 331,542 389,621 452,420 520,030 591,478 667,219 748,519 834,570 926,775ExpendituresLegislative 112 269 399 538 686 844 1,013 1,191 1,382 1,587 1,803 2,030 2,274 2,531 2,805Executive 717 1,715 2,545 3,429 4,379 5,382 6,461 7,600 8,819 10,125 11,501 12,952 14,509 16,149 17,894Finance 708 1,693 2,512 3,384 4,322 5,312 6,377 7,501 8,704 9,993 11,351 12,783 14,320 15,938 17,660Clerk 1,130 2,703 4,011 5,404 6,900 8,482 10,182 11,977 13,897 15,955 18,124 20,410 22,864 25,448 28,197Planning & Zoning 854 2,042 3,031 4,083 5,214 6,409 7,694 9,050 10,501 12,056 13,695 15,423 17,277 19,229 21,307Engineering 1,164 2,785 4,134 5,569 7,112 8,741 10,494 12,344 14,323 16,444 18,679 21,035 23,565 26,227 29,061Parks & Rec Fund Tsfr9,138 21,863 32,446 43,713 55,819 68,611 82,367 96,886 112,419 129,067 146,613 165,106 184,959 205,855 228,098Law Enforcement 10,534 25,202 37,402 50,390 64,344 79,091 94,947 111,684 129,589 148,780 169,006 190,323 213,209 237,297 262,937Subtotal 24,356 58,272 86,480 116,510 148,776 182,873 219,536 258,234 299,634 344,007 390,773 440,062 492,979 548,674 607,959Net Fund Balance 19,873 34,897 47,964 61,935 77,360 93,936 112,006 131,387 152,786 176,022 200,706 227,157 255,540 285,896 318,816S.F. Village @ 80% H.O.E. Summary2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036RevenueProperty Tax 46,196 95,306 136,943 182,480 232,208 285,599 343,841 406,210 473,861 547,281 625,657 710,328 801,126 897,802 1,002,047Sales Tax 6,398 15,147 22,196 29,588 37,413 45,526 54,060 62,903 72,236 82,033 92,177 102,813 113,914 125,401 137,474Liquor Tax 4,675 11,060 16,175 21,515 27,154 32,982 39,104 45,435 52,122 59,153 66,183 73,462 81,116 89,125 97,426Total Revenue 57,269 121,513 175,314 233,583 296,774 364,107 437,005 514,548 598,219 688,466 784,017 886,604 996,156 1,112,328 1,236,947ExpendituresLegislative 161 387 571 772 986 1,213 1,456 1,712 1,986 2,278 2,586 2,917 3,268 3,637 4,029Executive 1,029 2,468 3,646 4,923 6,290 7,736 9,286 10,922 12,668 14,534 16,500 18,607 20,845 23,200 25,701Finance 1,016 2,436 3,598 4,858 6,208 7,635 9,165 10,780 12,502 14,344 16,285 18,364 20,573 22,898 25,366Clerk 1,622 3,889 5,745 7,757 9,913 12,191 14,633 17,211 19,962 22,902 26,001 29,322 32,848 36,560 40,501Planning & Zoning 1,226 2,939 4,341 5,862 7,490 9,212 11,058 13,006 15,084 17,306 19,648 22,157 24,821 27,626 30,604Engineering 1,672 4,009 5,921 7,995 10,216 12,564 15,082 17,739 20,573 23,604 26,798 30,220 33,854 37,680 41,741Parks & Rec Fund Tsfr13,120 31,464 46,473 62,750 80,188 98,616 118,375 139,230 161,480 185,266 210,334 237,193 265,721 295,746 327,626Law Enforcement 15,124 36,269 53,571 72,334 92,436 113,678 136,455 160,496 186,145 213,564 242,460 273,422 306,306 340,918 377,667Subtotal 34,970 83,861 123,865 167,250 213,729 262,845 315,509 371,095 430,400 493,798 560,612 632,201 708,236 788,264 873,234Net Fund Balance 22,299 37,652 51,449 66,332 83,046 101,262 121,497 143,453 167,819 194,668 223,405 254,403 287,920 324,064 363,71211/18/2021Flagship Fiscal Impact ‐ AddendumPage 3 Flagship Homes ‐ Ammon, IdahoFiscal Impact AnalysisProfit/(Loss) by TypeTownhomes @ 75% H.O.E. Summary2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036RevenueProperty Tax 7,067 14,630 21,197 28,311 36,214 44,748 53,947 63,846 74,748 86,448 98,990 112,873 127,718 143,571 160,855Sales Tax 1,129 2,673 3,917 5,221 6,602 8,034 9,540 11,101 12,748 14,476 16,266 18,144 20,102 22,130 24,260Liquor Tax 825 1,952 2,854 3,797 4,792 5,820 6,901 8,018 9,198 10,439 11,679 12,964 14,315 15,728 17,193Total Revenue 9,021 19,255 27,968 37,329 47,608 58,602 70,388 82,964 96,693 111,363 126,935 143,981 162,135 181,429 202,308ExpendituresLegislative 28 69 102 138 176 217 260 306 355 407 462 521 583 649 720Executive 182 437 651 878 1,125 1,386 1,661 1,951 2,266 2,596 2,944 3,323 3,722 4,141 4,593Finance 179 432 642 866 1,110 1,368 1,639 1,926 2,236 2,562 2,906 3,279 3,673 4,087 4,533Clerk 286 689 1,025 1,383 1,772 2,184 2,617 3,075 3,570 4,091 4,640 5,236 5,864 6,526 7,238Planning & Zoning 216 521 775 1,045 1,339 1,650 1,978 2,323 2,698 3,091 3,506 3,957 4,431 4,931 5,469Engineering 295 710 1,057 1,426 1,827 2,251 2,698 3,169 3,680 4,216 4,782 5,396 6,044 6,726 7,459Parks & Rec Fund Tsfr2,315 5,576 8,295 11,189 14,338 17,666 21,173 24,873 28,881 33,093 37,532 42,357 47,440 52,790 58,549Law Enforcement 2,669 6,428 9,562 12,898 16,528 20,365 24,407 28,672 33,292 38,147 43,265 48,826 54,686 60,853 67,492Subtotal 6,171 14,863 22,108 29,822 38,216 47,087 56,432 66,296 76,977 88,204 100,036 112,895 126,444 140,704 156,053Net Fund Balance 2,849 4,393 5,860 7,507 9,391 11,515 13,955 16,669 19,716 23,160 26,900 31,085 35,691 40,725 46,255General Commercial Summary2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036RevenueProperty Tax 3,289 6,745 9,652 12,797 16,195 19,810 23,707 27,845 32,298 37,082 42,155 47,596 53,429 59,602 66,209Sales Tax 000000000000000Liquor Tax 000000000000000Total Revenue 3,289 6,745 9,652 12,797 16,195 19,810 23,707 27,845 32,298 37,082 42,155 47,596 53,429 59,602 66,209ExpendituresLegislative 6 14 20 27 35 43 51 61 70 81 91 103 115 129 142Executive 54 131 193 261 334 410 493 579 672 770 874 986 1,105 1,230 1,363Finance 13 32 48 64 82 101 122 143 166 190 216 243 273 303 336Clerk 21 51 76 103 131 162 194 228 265 303 344 388 435 484 537Planning & Zoning 79 190 281 380 486 597 717 843 978 1,121 1,272 1,434 1,607 1,790 1,983Engineering 22 53 78 106 135 167 200 235 273 313 355 400 448 499 553Parks & Rec Fund Tsfr000000000000000Law Enforcement 430 1,033 1,529 2,066 2,640 3,247 3,897 4,584 5,315 6,095 6,918 7,798 8,740 9,730 10,781Subtotal 626 1,504 2,226 3,007 3,844 4,728 5,674 6,673 7,737 8,873 10,071 11,353 12,723 14,166 15,695Net Fund Balance 2,663 5,242 7,427 9,789 12,352 15,082 18,033 21,172 24,560 28,209 32,084 36,244 40,706 45,437 50,51411/18/2021Flagship Fiscal Impact ‐ AddendumPage 4 Flagship Homes ‐ Ammon, IdahoFiscal Impact AnalysisAbsorptionAbsorption Schedule ‐ HB 389 CAP RestrictedAbsorption Rate 2022 2023 20242025 2026 2027 2028 2029 2030 2031 2032 2033 20342035 2036 TotalS.F. NBHD 6% 7% 6% 6% 6% 6% 6% 6% 6% 6% 6% 6% 6% 6% 6% 90.9%S.F. Village 6% 7% 6% 6% 6% 6% 6% 6% 6% 6% 6% 6% 6% 6% 6% 90.9%Townhomes 6% 7% 6% 6% 6% 6% 6% 6% 6% 6% 6% 6% 6% 6% 6% 90.9%General Commercial 6% 7% 6% 6% 6% 6% 6% 6% 6% 6% 6% 6% 6% 6% 6% 90.9%Units Occupied/Sq. Ft.S.F. NBHD 44 58 45 45 46 46 47 47 48 49 49 49 50 50 51 796S.F. Village 102 135 103 105 107 107 109 109 111 113 113 115 116 116 118 1,848Townhomes 27 36 28 28 29 29 29 29 30 30 30 31 31 31 32 498General Commercial 17,897 23,75418,222 18,547 18,873 18,873 19,198 19,198 19,52419,849 19,849 20,17420,500 20,500 20,825 325,393Cost per Sq. Ft.S.F. NBHD 225 234 243 253 263 274 285 296 308 320 333 346 360 375 390S.F. Village 180 187 195 202 211 219 228 237 246 256 266 277 288 300 312Townhomes 160 166 173 180 187 195 202 211 219 228 237 246 256 266 277General Commercial 130 135 141 146 152 158 164 171 178 185 192 200 208 216 225Taxable ValueS.F. NBHD 27,621,00037,865,88030,553,84831,776,002 33,781,421 35,132,67837,332,28938,825,58041,237,723 43,780,71645,531,94447,353,222 50,252,39952,262,495 55,440,054608,747,249S.F. Village 39,657,60054,587,52043,314,18645,921,44848,667,98850,614,70753,623,20855,768,13659,063,061 62,532,35065,033,645 68,832,07072,207,83475,096,14779,446,545 874,366,445Townhomes 6,998,4009,704,4487,849,8208,163,813 8,793,593 9,145,3379,511,1509,891,59610,641,993 11,067,673 11,510,38012,369,821 12,864,61413,379,19914,363,217156,255,053General Commercial 2,093,949 2,890,3872,305,943 2,440,9542,583,213 2,686,541 2,842,1172,955,801 3,126,233 3,305,4043,437,6203,633,663 3,840,0763,993,679 4,219,273 46,354,852Subtotal 76,370,949105,048,23584,023,79788,302,21793,826,21497,579,263 103,308,763107,441,113114,069,010120,686,143 125,513,588132,188,776139,164,923 144,731,519153,469,0891,685,723,598Property Tax RevenueS.F. NBHD @ 80% H.O.E. 36,517 37,303 30,557 31,902 34,028 35,528 37,861 39,511 42,216 44,916 46,836 48,828 51,90454,092 57,461S.F. Village @ 80% H.O.E. 46,196 47,723 38,778 41,429 44,253 46,425 49,675 52,05455,46459,20461,958 65,902 69,488 72,643 77,310Townhomes @ 75% H.O.E. 7,067 7,352 6,128 6,478 7,053 7,448 7,857 8,281 8,986 9,458 9,948 10,91411,458 12,022 12,977General Commercial 3,289 3,357 2,704 2,855 3,015 3,129 3,303 3,427 3,617 3,816 3,960 4,177 4,405 4,571 4,818Total Property Tax Revenue 93,07095,735 78,16782,663 88,35092,52998,695 103,273110,283117,395122,701129,821137,254143,327152,566Sales Tax RevenueState Base ‐ Ammon Population 17,115 17,115 17,115 17,115 17,115 17,115 17,115 17,115 17,115 17,115 17,115 17,115 17,115 17,115 17,115State Total Population ‐ <Avg 666,345 666,345 666,345 666,345 666,345 666,345 666,345 666,345 666,345 666,345 666,345 666,345 666,345 666,345 666,345Ammon Share 2.57% 2.57% 2.57% 2.57% 2.57% 2.57% 2.57% 2.57% 2.57% 2.57% 2.57% 2.57% 2.57% 2.57% 2.57%Annual Excess Distribution 15,050,552 15,351,563 15,658,59415,971,76616,291,202 16,617,02616,949,36617,288,353 17,634,12017,986,803 18,346,53918,713,47019,087,73919,469,49419,858,884Ammon Sales Tax ‐ Excess 386,572 394,303 402,189 410,233 418,438 426,807 435,343 444,050452,930461,989 471,229 480,653 490,267 500,072 510,073Ammon Revised Population 17,660 18,381 18,936 19,496 20,070 20,643 21,226 21,809 22,40423,009 23,613 24,228 24,848 25,469 26,102Revised State Total Pop. ‐ <Avg 666,890667,611 668,166668,726669,300669,873 670,456671,039 671,634672,239 672,843 673,458 674,078 674,699 675,332Revised Ammon Share 2.65% 2.75% 2.83% 2.92% 3.00% 3.08% 3.17% 3.25% 3.34% 3.42% 3.51% 3.60% 3.69% 3.77% 3.87%Revised Ammon Sales Tax ‐ Excess 398,555 422,674443,762 465,649 488,510512,075 536,595 561,865 588,226615,633 643,872 673,219 703,623 734,942 767,557Sales Tax Increment 11,983 28,37041,573 55,41670,07285,269101,252117,816135,295153,644172,643192,565213,356234,870257,483Liquor Tax RevenueBase Liquor Tax 275,000283,756295,716305,295 315,296325,858 336,773 348,240360,097 372,623 385,791 399,424413,759 428,761 444,307Liquor Tax Per Capita 16.1 16.6 17.3 17.8 18.4 19.0 19.7 20.3 21.0 21.8 22.5 23.3 24.2 25.1 26.0New Residents 545 721 554 561 573 573 583 583 595 605 605 614 621 621 633Incremental Liquor Tax8,756 11,960 9,579 10,002 10,561 10,915 11,467 11,857 12,526 13,168 13,633 14,335 15,002 15,546 16,437New Liquor Tax Revenue 8,75620,71630,295 40,29650,85861,773 73,24085,09797,623 110,791123,958137,591151,926166,928182,47411/18/2021Flagship Fiscal Impact ‐ AddendumPage 5 Flagship Homes ‐ Ammon, IdahoFiscal Impact AnalysisImpact on ExpendituresOperational Impact2022 2023 20242025 2026 2027 2028 2029 2030 2031 2032 2033 20342035 2036Expenditures ‐ TotalLegislative 188,305 193,954199,773 205,766211,939 218,297224,846231,592 238,539 245,696253,066260,658268,478276,533 284,829Executive 720,759 742,382 764,654787,593 811,221 835,558860,624886,443 913,036940,428968,640997,7001,027,6311,058,4591,090,213Finance 889,191 915,867943,343 971,643 1,000,7921,030,8161,061,7411,093,5931,126,4011,160,1931,194,9991,230,8491,267,7741,305,8071,344,981Clerk 141,974146,234150,621 155,139 159,793 164,587169,525 174,611 179,849 185,244190,802 196,526202,422 208,494214,749Planning & Zoning190,723 196,444202,338208,408214,660221,100227,733 234,565 241,602 248,850256,315 264,005 271,925 280,083 288,485Engineering 146,324150,713 155,235 159,892 164,688169,629 174,718179,960185,358190,919 196,647202,546208,622 214,881 221,328Parks & Rec Fund Tsfr706,761 727,964749,803 772,297795,466819,330843,910869,227895,304922,163 949,828978,323 1,007,6721,037,9021,069,039Law Enforcement1,920,5121,978,1282,037,4722,098,5962,161,5542,226,4002,293,1922,361,9882,432,8482,505,8332,581,0082,658,4382,738,1922,820,3372,904,947Subtotal 4,904,5505,051,6875,203,2375,359,3345,520,1145,685,7185,856,2896,031,9786,212,9376,399,3256,591,3056,789,0446,992,7167,202,4977,418,572Expenditures ‐ Variable %Legislative 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0%Executive 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0%Finance 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0%Clerk 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0%Planning & Zoning50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0%Engineering 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0%Parks & Rec Fund Tsfr65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0%Law Enforcement42.4% 42.4% 42.4% 42.4% 42.4% 42.4% 42.4% 42.4% 42.4% 42.4% 42.4% 42.4% 42.4% 42.4% 42.4%Absorption By TypeS.F. NBHD 5.5% 12.8% 18.4% 24.1% 29.9% 35.7% 41.6% 47.5% 53.5% 59.6% 65.7% 71.9% 78.2% 84.5% 90.9%S.F. Village 5.5% 12.8% 18.4% 24.1% 29.9% 35.7% 41.6% 47.5% 53.5% 59.6% 65.7% 71.9% 78.2% 84.5% 90.9%Townhomes 5.5% 12.8% 18.4% 24.1% 29.9% 35.7% 41.6% 47.5% 53.5% 59.6% 65.7% 71.9% 78.2% 84.5% 90.9%General Commercial 5.5% 12.8% 18.4% 24.1% 29.9% 35.7% 41.6% 47.5% 53.5% 59.6% 65.7% 71.9% 78.2% 84.5% 90.9%Proportionate ShareS.F. NBHD 36% 36% 36% 36% 36% 36% 36% 36% 36% 36% 36% 36% 36% 36% 36%S.F. Village 52% 52% 52% 52% 52% 52% 52% 52% 52% 52% 52% 52% 52% 52% 52%Townhomes 9% 9% 9% 9% 9% 9% 9% 9% 9% 9% 9% 9% 9% 9% 9%General Commercial 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3%Residential Expenditure ShareLegislative 60.0% 60.0% 60.0% 60.0% 60.0% 60.0% 60.0% 60.0% 60.0% 60.0% 60.0% 60.0% 60.0% 60.0% 60.0%Executive 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0%Finance 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0%Clerk 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0%Planning & Zoning45.0% 45.0% 45.0% 45.0% 45.0% 45.0% 45.0% 45.0% 45.0% 45.0% 45.0% 45.0% 45.0% 45.0% 45.0%Engineering 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0%Parks & Rec Fund Tsfr100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%Law Enforcement65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0%Commercial Expenditure ShareLegislative 40.0% 40.0% 40.0% 40.0% 40.0% 40.0% 40.0% 40.0% 40.0% 40.0% 40.0% 40.0% 40.0% 40.0% 40.0%Executive 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0%Finance 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0%Clerk 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0%Planning & Zoning55.0% 55.0% 55.0% 55.0% 55.0% 55.0% 55.0% 55.0% 55.0% 55.0% 55.0% 55.0% 55.0% 55.0% 55.0%Engineering 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0%Parks & Rec Fund Tsfr0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%Law Enforcement35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0%11/18/2021Flagship Fiscal Impact ‐ AddendumPage 6 Flagship Homes ‐ Ammon, IdahoFiscal Impact AnalysisImpact on ExpendituresOperational Impact2022 2023 20242025 2026 2027 2028 2029 2030 2031 2032 2033 20342035 2036S.F. NBHD Variable ExpendituresLegislative 112 269 399 538 686 844 1,013 1,191 1,382 1,587 1,803 2,0302,2742,531 2,805Executive 717 1,715 2,545 3,429 4,379 5,382 6,461 7,6008,819 10,125 11,501 12,952 14,509 16,149 17,894Finance 708 1,693 2,512 3,3844,322 5,312 6,377 7,501 8,7049,993 11,351 12,783 14,32015,93817,660Clerk 1,1302,703 4,011 5,4046,9008,482 10,182 11,977 13,897 15,955 18,12420,41022,86425,44828,197Planning & Zoning854 2,042 3,031 4,083 5,2146,409 7,6949,05010,501 12,05613,695 15,423 17,277 19,229 21,307Engineering 1,1642,785 4,1345,569 7,112 8,741 10,49412,34414,323 16,44418,679 21,035 23,565 26,227 29,061Parks & Rec Fund Tsfr9,138 21,863 32,44643,713 55,819 68,611 82,367 96,886112,419 129,067146,613 165,106184,959 205,855 228,098Law Enforcement10,53425,202 37,402 50,39064,34479,091 94,947 111,684129,589 148,780169,006190,323 213,209 237,297262,937Subtotal 24,35658,272 86,480116,510148,776182,873 219,536258,234299,634344,007390,773 440,062 492,979 548,674607,959S.F. Village Variable ExpendituresLegislative 161 387 571 772 986 1,213 1,456 1,712 1,986 2,278 2,586 2,917 3,268 3,637 4,029Executive 1,029 2,468 3,646 4,923 6,2907,736 9,286 10,922 12,66814,53416,50018,607 20,845 23,20025,701Finance 1,016 2,436 3,598 4,858 6,208 7,635 9,165 10,78012,502 14,34416,285 18,36420,573 22,89825,366Clerk 1,622 3,889 5,745 7,757 9,913 12,191 14,633 17,211 19,962 22,902 26,001 29,322 32,84836,56040,501Planning & Zoning1,226 2,939 4,341 5,862 7,4909,212 11,05813,00615,08417,30619,64822,157 24,821 27,62630,604Engineering 1,672 4,009 5,921 7,995 10,21612,56415,082 17,739 20,573 23,60426,79830,22033,85437,68041,741Parks & Rec Fund Tsfr13,12031,46446,473 62,75080,18898,616118,375 139,230161,480185,266210,334237,193 265,721 295,746327,626Law Enforcement15,12436,269 53,571 72,33492,436113,678136,455 160,496186,145 213,564242,460273,422 306,306340,918377,667Subtotal 34,97083,861 123,865 167,250213,729 262,845 315,509 371,095 430,400493,798560,612 632,201 708,236788,264873,234Townhomes Variable ExpendituresLegislative 28 69 102 138 176 217 260 306 355 407 462 521 583 649 720Executive 182 437 651 878 1,125 1,386 1,661 1,951 2,266 2,596 2,9443,323 3,722 4,141 4,593Finance 179 432 642 866 1,1101,368 1,639 1,926 2,236 2,562 2,906 3,279 3,673 4,087 4,533Clerk 286 689 1,025 1,383 1,772 2,1842,617 3,075 3,5704,091 4,6405,236 5,8646,526 7,238Planning & Zoning216 521 775 1,045 1,339 1,6501,978 2,323 2,698 3,091 3,506 3,957 4,431 4,931 5,469Engineering 295 710 1,057 1,426 1,827 2,251 2,698 3,169 3,6804,216 4,782 5,396 6,0446,726 7,459Parks & Rec Fund Tsfr2,315 5,576 8,295 11,189 14,33817,66621,173 24,873 28,881 33,093 37,532 42,357 47,44052,79058,549Law Enforcement2,669 6,428 9,562 12,89816,52820,365 24,407 28,672 33,292 38,147 43,265 48,82654,68660,853 67,492Subtotal 6,171 14,863 22,10829,822 38,21647,087 56,432 66,29676,977 88,204100,036112,895 126,444140,704156,053General Commercial Variable ExpendituresLegislative 6 14 20 27 35 43 51 61 70 81 91 103 115 129 142Executive 54 131 193 261 334 410 493 579 672 770 874 986 1,105 1,2301,363Finance 13 32 48 64 82 101 122 143 166 190 216 243 273 303 336Clerk 21 51 76 103 131 162 194 228 265 303 344 388 435 484 537Planning & Zoning79 190 281 380 486 597 717 843 978 1,121 1,272 1,4341,607 1,7901,983Engineering 22 53 78 106 135 167 200 235 273 313 355 400 448 499 553Parks & Rec Fund Tsfr000000000000000Law Enforcement430 1,033 1,529 2,066 2,6403,247 3,897 4,5845,315 6,095 6,918 7,798 8,7409,73010,781Subtotal 626 1,5042,226 3,007 3,8444,728 5,6746,673 7,737 8,873 10,071 11,353 12,723 14,16615,695Total Variable ExpendituresLegislative 308 738 1,093 1,4741,8842,317 2,7803,2703,793 4,353 4,942 5,571 6,241 6,946 7,696Executive 1,982 4,751 7,035 9,49012,12814,915 17,901 21,053 24,42428,025 31,82035,867 40,18044,72049,550Finance 1,916 4,593 6,8009,173 11,722 14,41617,303 20,349 23,60827,089 30,757 34,67038,83843,22647,895Clerk 3,059 7,333 10,857 14,647 18,717 23,01827,627 32,491 37,69443,252 49,109 55,35662,012 69,01876,472Planning & Zoning2,375 5,692 8,428 11,37014,53017,86821,44625,222 29,261 33,575 38,121 42,97048,137 53,57659,363Engineering 3,153 7,558 11,19015,09619,29023,723 28,473 33,487 38,849 44,577 50,61457,052 63,912 71,132 78,815Parks & Rec Fund Tsfr24,57458,903 87,213 117,652 150,345 184,894221,914260,989 302,780347,426394,479 444,656498,120554,392 614,273Law Enforcement28,757 68,932 102,063 137,688175,949 216,381 259,706305,436354,340406,587461,649 520,370582,941 648,799 718,877Total Variable Expenditures 66,124158,499234,679316,591 404,565 497,532 597,151 702,298814,748934,882 1,061,491 1,196,5121,340,3821,491,8081,652,94111/18/2021Flagship Fiscal Impact ‐ AddendumPage 7