Riviera Park Fiscal Impact Analysis - FINAL
March 2, 2022
Jonny Arbuckle
Scratch Management, LLC
4267 Summermeadow Drive
Bountiful, UT 84041
Dear Jonny,
Attached please find our completed analysis of the projected fiscal impact of the proposed Riviera Park
project in Ammon, Idaho.
Using conservative assumptions, we project the proposed development will contribute a net revenue
surplus of nearly $23,500 to the City of Ammon’s General Fund beginning in the first year and rising
continually thereafter. A net present value calculation of the fund balance to the City was calculated
using a 3%, 6% and 9% annual discount rates, resulting in NPV’s of $930,000, $724,000 and $575,000
respectively, over a 15‐year period. As a secondary calculation, because of the timing of property tax
revenues to the City, a modified cash flow was created. Under this scenario, the City could experience a
funding shortfall in the first few years but would recover these funds and receive positive cash flows
thereafter. The NPV’s under this scenario are also positive at $670,000, $492,000 and $366,000
respectively.
The Enterprise Funds including Sewer and Water are budgeted based on fee for service and therefore
will always have the opportunity to adjust their rates to maintain adequate cash flow. As such, these
funds were not included in this analysis.
We would be happy to meet with the City of Ammon to discuss this analysis and our findings at their
convenience.
Sincerely,
Ozzie Gripentrog
Galena Consulting
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Riviera Park Project – Ammon, Idaho
Fiscal Impact Analysis
March 2022
Galena Consulting was retained by Scratch Management to calculate the fiscal impact to ongoing
operations of the City of Ammon as a result of the Riviera Park Development in Ammon, Idaho. Galena
Consulting has prepared Fiscal Impact Studies for multiple governmental jurisdictions in Idaho and Utah
and used the methodology created for those studies in its development of this analysis.
Figure 1 identifies the Riviera Park location as situated at the Northeast corner of North Hitt Road and
East Lincoln Road, in currently unincorporated Bonneville County.
Figure 1 ‐ Riviera Park Subject Site Location
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Riviera Park was broken down into two distinct projects:
A Residential development portrayed in Figure 2 and consisting of:
o 172 Townhomes averaging approximately 1,880 square feet and broken down into 48
total buildings containing either three or four of the following townhome Unit Types:
Unit A – 2 Story, 3 Bedroom, 2.5 Bath, 2 Car Garage (48 total units)
Unit B – 3 Story, 3 Bedroom, 3 Bath, 2 Car Garage (48 total units)
Unit C – 3 Story, 3 Bedroom, 3 Bath, 2 Car Garage (28 total units)
Unit D – 3 Story, 3 Bedroom, 3 Bath, 2 Car Garage (48 total units)
Figure 2 Riviera Park Townhome Frontal Elevation
o 350 Apartment units averaging approximately 1,200 square feet and broken down into
10 buildings and containing three unit types;
1 Bedroom, 1 Bath (120 units)
2 Bedroom, 2 Bath (170 units)
3 Bedroom, 2 Bath (60 units)
A Commercial development consisting of 14 buildings broken down into:
o 10 Retail outlets for a combined 172,145 square feet
o 4 Restaurant outlets for a combined 16,751 square feet
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Figure 3 ‐ Conceptual Site Plan
Revenue calculations for the project were based on the following:
Property Taxes ‐ FY 2022 Levy rates for the City of Ammon only.
Residential Assessed Property Values at approximately:
o $300,000 per unit for townhomes
o $222,000 per unit for apartments
Homeowners Exemption assumed at 80% of townhome residential construction, as owner
occupied primary homes and none of the apartments are assumed to be owner occupied.
Expenditure calculations were based on the following factors:
FY 2022 City of Ammon Budget
Population data from the State of Idaho and the U.S. Census.
Variable costs for City services and Residential vs Commercial impacts based on Fiscal Impact
Studies, conducted by Galena Consulting, for other Idaho Cities.
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Methodology
Galena Consulting, through a series of calculations, forecasted the total anticipated property value of
the proposed Riviera Park Project and its corresponding revenue to the City of Ammon. The cost to
provide the services necessary to support the proposed development was then calculated to evaluate
the net impact to the City from the Riviera Park Project.
There are several primary driving factors when evaluating economic impact to a jurisdiction which
include: the operating expenditure budget for the jurisdiction, population estimates, the mix between
residential and commercial development, and the relationship between fixed and variable operating
costs of the jurisdiction. A vital factor in a fiscal impact analysis is the variability of each City service, or
the degree to which the City budget for a specific service reacts or increases due to growth, as not all
services are variable. For example, if the City were to double in size, it would not require two Mayors. It
would, however require twice as many police officers. The majority of administrative functions are
typically fixed, while the majority of police functions are typically variable. A final factor that affects
costs is related to the mix between residential and commercial development. For example,
administrative costs are more heavily impacted by residential development and police services are
basically shared equally between residential and commercial needs. In this fiscal impact analysis,
assumptions about variability and land use were based on historical studies conducted by Galena
Consulting for several cities in Southwestern Idaho. All of these factors were then reviewed and
modified by City of Ammon staff to ensure they reflect their operations.
Population can have a dramatic impact on both the revenue and expenditure calculations in a fiscal
impact analysis. Typical city services that are most directly affected by population include Fire, Police,
and Parks/Recreation. The City of Ammon contracts for police services with the Bonneville County
Sheriff and fire services are provided by Bonneville County Fire Protection District. These entities will
receive corresponding property taxes to fund growth in their jurisdictions under the normal Idaho
growth formula. The only remaining city services directly affected by population is the Parks and
Recreation department. Riviera Park is unusual as it is driven by a significant portion of commercial
development along with smaller multifamily sized units. Commercial development has no impact on
population statistics and therefore no impact on the Parks and Recreation department.
The residential component of the project is the only source of population growth. In prior studies,
Galena Consulting has relied on the City of Ammon Comprehensive Plan for the anticipated 3.15 persons
per household. This number matches the U.S. Census estimated persons per single family units as
identified in the 2019 American Community Survey 5‐Year Estimates as illustrated in Figure 4.
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Figure 4 ‐ City of Ammon PPHU
As can be seen in Figure 4, the total average persons per housing unit (“PPHU”) for multifamily of 1.58 is
well below the average for single family units. As such, Galena Consulting has elected to use the Census
information for multifamily units in this study. The reason for this decision is to maintain the most
accurate approach to the economic impact on the City of Ammon related to the Riviera Park Project.
On final source of data for comparison is the Public Use Microdata Samples (“PUMS”) compiled from the
American Community Survey. This is sample data regarding housing units that is segmented into the
number of persons per household based on the number of bedrooms within the housing unit universe.
Figure 5 portrays the PUMS data for the Public Use Microdata Area (“PUMA”) 1200 which include much
of Bonneville County. This fitted curve calculates a 1.60 estimated number of PPHU for a 1200 square
foot residence, which aligns closely with the Census Data at 1.58 PPHU.
Persons per Persons per Housing
Housing Unit Household Unit Mix
Single Family [1] 14,121 4,503 3.14 4,404 3.21 82%
Multifamily [2] 1,574 999 1.58 9031.7418%
Total 15,695 5,502 2.85 5,307 2.96
[1] Includes attached and detached single family homes and mobile homes
[2] Includes structures with 2+ units
Source: U.S. Census Bureau, 2019 American Community Survey 5‐Year Estimates
Housing Type Persons
Housing
Units Households
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Figure 5 ‐ CItywide PPHU for PUMA 1200
Bedrooms Square Feet Persons Sq Ft Range Persons
0‐21,0601.74Under 500 0.51
3 2,170 2.72 500 to 800 1.10
4 3,000 3.25 801 to 1,000 1.37
5+ 4,100 4.01 1,001 to 1,200 1.60
1,201 to 1,400 1.79
1,401 to 1,600 1.96
1,601 to 1,800 2.11
1,801 to 2,000 2.24
2,001 to 2,500 2.51
2,501 to 3,000 2.74
3,001 to 3,500 2.93
3,501 to 4,000 3.10
4,001 or More 3.25
Actual Averages per Hsg Unit Fitted‐Curve Values
y = 1.63ln(x) ‐9.692
R² = 0.9816
0.00
0.50
1.00
1.50
2.00
2.50
3.00
3.50
4.00
4.50
0 1,000 2,000 3,000 4,000 5,000Person per Housing UnitSquare Feet of Living Area
Citywide Persons per Housing Unit in
Ammon City
Average persons per housing unit derived
from 2019 ACS PUMS data for the area that
includes Bonneville County. Unit size for 0‐2
bedroom is from the 2019 U.S. Census
Bureau average for all multi‐family units
constructed in the Census West region. Unit
size for all other bedrooms is from the 2019
U.S. Census Bureau average for single‐family
units constructed in the Census Mountain
division.
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Results
At full buildout (5 years), the Riviera Park project is anticipated to add approximately $161 Million in
new taxable value and approximately 1,095 new residents to the City of Ammon. This would increase
the size of Ammon by approximately 12.4% in taxable value and 6% in population.
The methodology in these calculations is straightforward. The total operating expenditure budget for
the General Fund of the City of Ammon is identified by department. Although Riviera Park accounts for
a 6% increase in population, it accounts for a 12.4% increase in taxable value. As such, Galena
Consulting assumed a 12.4% impact on the City Budget, which again is a more conservative approach
and allocates more costs to the project. This allocated expenditure amount was then segmented into
the fixed and variable components, as mutually agreed upon by City staff and Galena Consulting. Finally,
these costs were again segmented into their residential and commercial components. Revenues were
calculated based on the assessed value of each element reduced to 90% and then reduced again by the
effective homeowners exemption calculation described earlier. This value was multiplied by the
Ammon City levy rate to generate property tax revenue. Sales and Liquor taxes are formulas based on
the population growth.
The Enterprise Funds including Sewer and Water are budgeted based on fee for service and therefore
will always have the opportunity to adjust their rates to maintain adequate cash flow. Funding for
capital costs related to the project are assumed to be negotiated through the development agreement.
As such, these funds were not included in this analysis. Also, no impact to districts or entities apart from
the City are included in this analysis, as these authorities would communicate directly with the
developer, should they have issues or concerns.
Based on the variability and land use assumptions used in the analysis, the City of Ammon’s General
Fund would experience a positive net fiscal impact of approximately $1.2 million for the City of
Ammon’s General Fund over the fifteen‐year analysis period. A net present value calculation of the
surplus over the 15‐year period, using a 3%, 6% and 9% annual discount rate, resulted in $930,000,
$724,000 and $575,000 revenue surpluses for the city, respectively. As an alternative calculation,
because of the timing of property tax revenues to the City, a modified cash flow was created. Under this
scenario, the City could experience a funding shortfall in the first few years but would recover these
funds and receive positive cash flows thereafter. The NPV’s under this scenario are also positive at
$670,000, $492,000 and $366,000.
A secondary calculation was created to identify the benefit of this development in relation to its costs
whereby any number greater than one would indicate a net benefit to the city and anything below one
would be a detriment. This project should be expected to fall in the 1.3 to 1.6 benefit range for the vast
majority of the build out period.
One final series of calculations were conducted using 3.15 PPHU in multifamily units, as a precautionary
measure. The increased population would provide additional revenue and would result in increased
Police and Parks/Recreation service costs. Under this scenario, the City of Ammon could reasonably
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anticipate General Fund surpluses ranging from $300k at a 9% discount to $500k at a 3% discount rate.
This is an extremely conservative approach and still provides positive net revenues to the City.
Additional Assumptions
Newly enacted legislation (originally introduced as HB 389) in Idaho may result in reduced revenues
from new development for many cities and counties. Prior to HB 389, cities and counties were able to
receive the full value of annexation and new construction and were not limited in their property tax
collections. This is now no longer the case. Annexation and new construction values are limited to 90%
of their total value and are additionally limited to prevent the jurisdiction from raising total property
taxes above 8% over the prior year. The Riviera Park development is fairly large and at full buildout it
accounts for approximately 12.4% total taxable value growth for the City of Ammon. This project alone
would enable the City of Ammon to stay below the 8% cap in any given year. However, the City would
need to review all of their pending and approved projects on an annual basis, at minimum, to ensure
that the City is able to maximize proceeds from new development.
Finally, the actual length time for development completion, the actual ratio of primary vs secondary
homeowners and the actual impact factors will have an effect on the overall results. The first year of a
new development generally has the greatest negative impact to a jurisdiction because services are
anticipated to be provided when the development begins, while new tax revenue will not be collected at
least a year into the future.
To quantify the impact, Galena Consulting assumed a complete buildout of 5 years with an overall
analysis horizon of 15 years, with fluctuations each year to maximize development, and calculated the
fiscal impact for the first year. Under this scenario, the General Fund would be obligated to provide a
temporary funding source of approximately $30,000 for the first three years, until the development is
self‐funding and providing consistent positive cash flows. As an alternative, the City could choose to not
to provide additional services and collect additional budget for the first few years, recognizing that their
service levels may decline slightly to match costs to funding sources, as a method to bridge the short‐
term deficit. This is a very practical approach as it is not possible to hire part of a typical full‐time
position. The City would wait until the growth justifies hiring full‐time positions, which could take up to
three years and would easily bridge the funding shortfall. Both of these approaches are included in the
Cash Flow Summary section of this analysis, as possible methods to temporarily fund any shortfalls. The
City is eminently qualified to make the best decision for their constituents.
Notes
It should be noted that this analysis was conducted on the fiscal impact of Riviera Park on the City of
Ammon’s annual operating budget for the General Fund. It does not take into consideration the cost of
any offsite capital infrastructure that may be necessitated by the proposed development such as police
or fire stations. These costs will be recovered by the City through exactions, contributions and/or
impact fees.
Riviera Park Project ‐ Ammon, IdahoFiscal Impact AnalysisSummarySummary Financial Statements2023 20242025 2026 2027 2028 2029 2030 2031 2032 2033 20342035 2036 2037RevenueProperty Tax 48,340 112,807 174,458 213,904220,322 226,931 233,739 240,751 247,974255,413 263,075 270,968 279,097 287,470296,094Sales Tax 6,629 13,516 19,408 25,526 26,036 26,557 27,088 27,630 28,182 28,746 29,321 29,907 30,505 31,116 31,738Liquor Tax 4,842 9,769 13,863 18,016 18,016 18,016 18,016 18,016 18,016 18,016 27,342 36,947 46,841 57,032 67,528Total Revenue 59,811 136,093 207,729 257,446264,374271,504278,843 286,397 294,172 302,175 319,738 337,822 356,443 375,617 395,360ExpendituresLegislative 198 647 1,075 1,275 1,313 1,353 1,393 1,435 1,478 1,522 1,568 1,615 1,663 1,713 1,765Executive 1,402 5,448 9,389 10,861 11,187 11,523 11,869 12,225 12,591 12,969 13,358 13,759 14,172 14,597 15,035Finance 1,244 3,129 4,820 6,020 6,201 6,387 6,578 6,776 6,979 7,188 7,404 7,626 7,855 8,091 8,333Clerk 1,986 4,996 7,695 9,612 9,901 10,198 10,50410,819 11,143 11,478 11,822 12,177 12,542 12,918 13,306Planning & Zoning 1,500 6,438 11,300 12,913 13,300 13,699 14,110 14,533 14,969 15,418 15,881 16,357 16,848 17,35417,874Engineering 2,046 5,149 7,931 9,907 10,20410,510 10,825 11,150 11,485 11,829 12,18412,550 12,926 13,31413,713Parks & Rec Fund Tsfr 14,827 30,543 43,52457,421 59,143 60,918 62,745 64,627 66,566 68,563 70,620 72,739 74,921 77,169 79,484Law Enforcement 13,09439,843 64,948 78,016 80,356 82,767 85,250 87,808 90,442 93,155 95,950 98,828 101,793 104,847 107,992Subtotal 36,297 96,195 150,681 186,025 191,605 197,354203,274209,373 215,654222,123 228,787 235,651 242,720250,002 257,502Net Fiscal Impact 23,51439,89857,04871,421 72,76874,15075,56977,02478,51880,05290,951 102,172113,723125,615137,858Benefit/Cost Ratio 1.65 1.41 1.38 1.38 1.38 1.38 1.37 1.37 1.36 1.36 1.40 1.43 1.47 1.50 1.54NPV @ 3/6/9% Discount Rates 929,302 723,661 575,3753/2/2022Riviera Fiscal Impact ‐ FINALPage 1
Riviera Park Project ‐ Ammon, IdahoFiscal Impact AnalysisSummaryCash Flow Summary (Assuming One Year Lag in Property Taxes)2023 20242025 2026 2027 2028 2029 2030 2031 2032 2033 20342035 2036 2037RevenueProperty Tax 48,340 112,807 174,458 213,904220,322 226,931 233,739 240,751 247,974255,413 263,075 270,968 279,097 287,470Sales Tax 6,629 13,516 19,408 25,526 26,036 26,557 27,088 27,630 28,182 28,746 29,321 29,907 30,505 31,116 31,738Other 4,842 9,769 13,863 18,016 18,016 18,016 18,016 18,016 18,016 18,016 27,342 36,947 46,841 57,032 67,528Total Revenue 11,471 71,626 146,078 218,000257,956264,894272,035 279,385 286,950294,736312,076329,930348,314367,244386,735ExpendituresLegislative 198 647 1,075 1,275 1,313 1,353 1,393 1,435 1,478 1,522 1,568 1,615 1,663 1,713 1,765Executive 1,402 5,448 9,389 10,861 11,187 11,523 11,869 12,225 12,591 12,969 13,358 13,759 14,172 14,597 15,035Finance 1,244 3,129 4,820 6,020 6,201 6,387 6,578 6,776 6,979 7,188 7,404 7,626 7,855 8,091 8,333Clerk 1,986 4,996 7,695 9,612 9,901 10,198 10,50410,819 11,143 11,478 11,822 12,177 12,542 12,918 13,306Planning & Zoning 1,500 6,438 11,300 12,913 13,300 13,699 14,110 14,533 14,969 15,418 15,881 16,357 16,848 17,35417,874Engineering 2,046 5,149 7,931 9,907 10,20410,510 10,825 11,150 11,485 11,829 12,18412,550 12,926 13,31413,713Parks & Rec Fund Tsfr 14,827 30,543 43,52457,421 59,143 60,918 62,745 64,627 66,566 68,563 70,620 72,739 74,921 77,169 79,484Law Enforcement 13,09439,843 64,948 78,016 80,356 82,767 85,250 87,808 90,442 93,155 95,950 98,828 101,793 104,847 107,992Subtotal 36,297 96,195 150,681 186,025 191,605 197,354203,274209,373 215,654222,123 228,787 235,651 242,720250,002 257,502Net Fiscal Impact (24,826)(24,569)(4,603) 31,975 66,351 67,541 68,761 70,01271,29672,61283,28994,279105,594117,242129,234Benefit/Cost Ratio 0.32 0.74 0.97 1.17 1.35 1.34 1.34 1.33 1.33 1.33 1.36 1.40 1.44 1.47 1.50NPV @ 3/6/9% Discount Rates 669,246491,791 366,0923/2/2022Riviera Fiscal Impact ‐ FINALPage 2
Riviera Park Project ‐ Ammon, IdahoFiscal Impact AnalysisSummaryCash Flow Summary (Delayed Service Alternative)2023 20242025 2026 2027 2028 2029 2030 2031 2032 2033 20342035 2036 2037RevenueProperty Tax 48,340 112,807 174,458 213,904220,322 226,931 233,739 240,751 247,974255,413 263,075 270,968 279,097 287,470Sales Tax 6,629 13,516 19,408 25,526 26,036 26,557 27,088 27,630 28,182 28,746 29,321 29,907 30,505 31,116 31,738Other 4,842 9,769 13,863 18,016 18,016 18,016 18,016 18,016 18,016 18,016 27,342 36,947 46,841 57,032 67,528Total Revenue 11,471 71,626 146,078 218,000257,956264,894272,035 279,385 286,950294,736312,076329,930348,314367,244386,735ExpendituresLegislative 198 647 1,075 1,275 1,313 1,353 1,393 1,435 1,478 1,522 1,568 1,615 1,663 1,713Executive 1,402 5,448 9,389 10,861 11,187 11,523 11,869 12,225 12,591 12,969 13,358 13,759 14,172 14,597Finance 1,244 3,129 4,820 6,020 6,201 6,387 6,578 6,776 6,979 7,188 7,404 7,626 7,855 8,091Clerk 1,986 4,996 7,695 9,612 9,901 10,198 10,50410,819 11,143 11,478 11,822 12,177 12,542 12,918Planning & Zoning 1,500 6,438 11,300 12,913 13,300 13,699 14,110 14,533 14,969 15,418 15,881 16,357 16,848 17,354Engineering 2,046 5,149 7,931 9,907 10,20410,510 10,825 11,150 11,485 11,829 12,18412,550 12,926 13,314Parks & Rec Fund Tsfr 14,827 30,543 43,52457,421 59,143 60,918 62,745 64,627 66,566 68,563 70,620 72,739 74,921 77,169Law Enforcement 13,09439,843 64,948 78,016 80,356 82,767 85,250 87,808 90,442 93,155 95,950 98,828 101,793 104,847Subtotal 0 36,297 96,195 150,681 186,025 191,605 197,354203,274209,373 215,654222,123 228,787 235,651 242,720250,002Net Fiscal Impact 11,471 35,32949,88467,31871,93273,28974,681 76,111 77,57779,08289,952101,143112,664124,524136,734Benefit/Cost Ratio 0.00 1.97 1.52 1.45 1.39 1.38 1.38 1.37 1.37 1.37 1.40 1.44 1.48 1.51 1.55NPV @ 3/6/9% Discount Rates 895,164692,988 547,4643/2/2022Riviera Fiscal Impact ‐ FINALPage 3
Riviera Park Project ‐ Ammon, IdahoFiscal Impact AnalysisProfit/(Loss) by TypeTownhomes @ 80% H.O.E. Summary2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037RevenueProperty Tax 12,594 23,235 35,293 48,664 50,124 51,628 53,177 54,772 56,415 58,108 59,851 61,646 63,496 65,401 67,363Sales Tax 2,366 4,824 6,926 9,109 9,291 9,477 9,667 9,860 10,057 10,258 10,464 10,673 10,886 11,104 11,326Liquor Tax 1,728 3,486 4,947 6,429 6,429 6,429 6,429 6,429 6,429 6,429 9,757 13,185 16,716 20,353 24,098Total Revenue 16,687 31,545 47,167 64,203 65,845 67,534 69,273 71,061 72,902 74,795 80,072 85,504 91,098 96,857 102,787ExpendituresLegislative 62 129 215 307 316 326 336 346 356 367 378 389 401 413 425Executive 443 913 1,524 2,181 2,246 2,314 2,383 2,455 2,528 2,604 2,682 2,763 2,846 2,931 3,019Finance 393 810 1,352 1,934 1,992 2,052 2,114 2,177 2,242 2,309 2,379 2,450 2,524 2,599 2,677Clerk 628 1,293 2,159 3,088 3,181 3,276 3,375 3,476 3,580 3,688 3,798 3,912 4,029 4,150 4,275Planning & Zoning 474 977 1,631 2,334 2,404 2,476 2,550 2,626 2,705 2,786 2,870 2,956 3,045 3,136 3,230Engineering 647 1,333 2,225 3,183 3,278 3,377 3,478 3,582 3,690 3,800 3,914 4,032 4,153 4,277 4,406Parks & Rec Fund Tsfr4,688 9,658 16,118 23,060 23,752 24,465 25,198 25,954 26,733 27,535 28,361 29,212 30,088 30,991 31,921Law Enforcement 4,140 8,529 14,235 20,365 20,976 21,606 22,254 22,921 23,609 24,317 25,047 25,798 26,572 27,369 28,190Subtotal 11,477 23,642 39,458 56,453 58,146 59,890 61,687 63,538 65,444 67,407 69,429 71,512 73,658 75,867 78,143Net Fiscal Impact 5,210 7,902 7,708 7,750 7,699 7,644 7,586 7,524 7,458 7,388 10,642 13,992 17,440 20,990 24,644Apartments @ 0% H.O.E. Summary2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037RevenueProperty Tax 35,747 65,321 87,886 112,423 115,796 119,269 122,848 126,533 130,329 134,239 138,266 142,414 146,686 151,087 155,620Sales Tax 4,263 8,693 12,482 16,416 16,745 17,080 17,421 17,770 18,125 18,487 18,857 19,234 19,619 20,011 20,412Liquor Tax 3,114 6,283 8,916 11,587 11,587 11,587 11,587 11,587 11,587 11,587 17,584 23,762 30,125 36,679 43,430Total Revenue 43,124 80,297 109,284 140,426 144,127 147,936 151,855 155,889 160,041 164,313 174,708 185,410 196,431 207,777 219,461ExpendituresLegislative 135 278 365 458 471 486 500 515 531 547 563 580 597 615 634Executive 959 1,975 2,592 3,250 3,347 3,448 3,551 3,658 3,767 3,880 3,997 4,117 4,240 4,367 4,498Finance 850 1,752 2,299 2,882 2,968 3,057 3,149 3,244 3,341 3,441 3,544 3,651 3,760 3,873 3,989Clerk 1,358 2,797 3,670 4,602 4,740 4,882 5,028 5,179 5,334 5,495 5,659 5,829 6,004 6,184 6,370Planning & Zoning 1,026 2,114 2,773 3,477 3,581 3,689 3,800 3,914 4,031 4,152 4,276 4,405 4,537 4,673 4,813Engineering 1,399 2,883 3,783 4,743 4,885 5,031 5,182 5,338 5,498 5,663 5,833 6,008 6,188 6,374 6,565Parks & Rec Fund Tsfr10,139 20,886 27,406 34,360 35,391 36,453 37,547 38,673 39,833 41,028 42,259 43,527 44,833 46,178 47,563Law Enforcement 8,954 18,445 24,203 30,345 31,255 32,193 33,159 34,154 35,178 36,234 37,321 38,440 39,593 40,781 42,005Subtotal 24,820 51,129 67,091 84,116 86,640 89,239 91,916 94,674 97,514 100,439 103,452 106,556 109,753 113,045 116,436Net Fiscal Impact 18,304 29,168 42,193 56,310 57,487 58,697 59,939 61,216 62,527 63,874 71,255 78,855 86,678 94,732 103,0243/2/2022Riviera Fiscal Impact ‐ FINALPage 4
Riviera Park Project ‐ Ammon, IdahoFiscal Impact AnalysisProfit/(Loss) by TypeRetail Commercial Summary2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037RevenueProperty Tax 0 22,101 46,731 48,133 49,577 51,065 52,597 54,175 55,800 57,474 59,198 60,974 62,803 64,687 66,628Total Revenue 0 22,101 46,731 48,133 49,577 51,065 52,597 54,175 55,800 57,474 59,198 60,974 62,803 64,687 66,628ExpendituresLegislative 0 219 451 465 479 493 508 523 539 555 572 589 606 625 643Executive 0 2,333 4,805 4,949 5,098 5,251 5,408 5,570 5,737 5,910 6,087 6,269 6,457 6,651 6,851Finance 0 517 1,065 1,097 1,130 1,164 1,199 1,235 1,272 1,310 1,349 1,390 1,432 1,475 1,519Clerk 0 826 1,701 1,752 1,805 1,859 1,914 1,972 2,031 2,092 2,155 2,219 2,286 2,354 2,425Planning & Zoning 0 3,050 6,284 6,472 6,666 6,866 7,072 7,284 7,503 7,728 7,960 8,199 8,445 8,698 8,959Engineering 0 851 1,753 1,806 1,860 1,916 1,973 2,032 2,093 2,156 2,221 2,287 2,356 2,427 2,499Law Enforcement 0 11,728 24,159 24,884 25,631 26,399 27,191 28,007 28,847 29,713 30,604 31,522 32,468 33,442 34,445Subtotal 0 19,523 40,218 41,425 42,668 43,948 45,266 46,624 48,023 49,463 50,947 52,476 54,050 55,672 57,342Net Fiscal Impact 0 2,578 6,513 6,708 6,910 7,117 7,331 7,550 7,777 8,010 8,251 8,498 8,753 9,016 9,286Restaurant Commercial Summary2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037RevenueProperty Tax 0 2,151 4,548 4,684 4,825 4,969 5,118 5,272 5,430 5,593 5,761 5,934 6,112 6,295 6,484Total Revenue 0 2,151 4,548 4,684 4,825 4,969 5,118 5,272 5,430 5,593 5,761 5,934 6,112 6,295 6,484ExpendituresLegislative 0 21 44 45 47 48 49 51 52 54 56 57 59 61 63Executive 0 227 468 482 496 511 526 542 558 575 592 610 628 647 667Finance 0 50 104 107 110 113 117 120 124 127 131 135 139 143 148Clerk 0 80 166 170 176 181 186 192 198 204 210 216 222 229 236Planning & Zoning 0 297 611 630 649 668 688 709 730 752 775 798 822 846 872Engineering 0 83 171 176 181 186 192 198 204 210 216 223 229 236 243Law Enforcement 0 1,141 2,351 2,422 2,494 2,569 2,646 2,725 2,807 2,891 2,978 3,068 3,160 3,254 3,352Subtotal 0 1,900 3,914 4,031 4,152 4,277 4,405 4,537 4,673 4,813 4,958 5,107 5,260 5,418 5,580Net Fiscal Impact 0 251 634 653 672 693 713 735 757 779 803 827 852 877 9043/2/2022Riviera Fiscal Impact ‐ FINALPage 5
Riviera Park Project ‐ Ammon, IdahoFiscal Impact AnalysisAbsorptionAbsorption Schedule ‐ Straight Line AbsorptionAbsorption Rate 2023 20242025 2026 2027 2028 2029 20302031 2032 2033 20342035 2036 2037 TotalTownhomes 25% 25% 25% 25% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 100.0%Apartments 30% 30% 20% 20% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 100.0%Retail Commercial 0% 50% 50% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 100.0%Restaurant Commercial 0% 50% 50% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 100.0%Units Occupied/Sq. Ft.Townhomes 43 43 43 4300000000000 172Apartments 105 105 70 7000000000000 350Retail Commercial 0 86,073 86,073000000000000172,145Restaurant Commercial 0 8,376 8,37600000000000016,751Cost per Sq. Ft.Townhomes 160 166 173 180187 195 202 211 219 228 237 246 256 266 277Apartments 185 192 200 208216 225 234 243 253 263 274 285 296 308 320Retail Commercial210218 227236 246 255 266 276 287 299 311 323 336 350 364Restaurant Commercial210218 227236 246 255 266 276 287 299 311 323 336 350 364Taxable ValueTownhomes 11,640,96012,106,59812,590,862 13,094,4970000000000049,432,918Apartments 20,979,00021,818,16015,127,25815,732,3480000000000073,656,766Retail Commercial 0 16,918,50917,595,24900000000000034,513,758Restaurant Commercial 0 1,646,3871,712,2420000000000003,358,629Subtotal 32,619,96052,489,65447,025,611 28,826,84500000000000160,962,070Property Tax RevenueTownhomes @ 80% H.O.E. 12,59410,263 11,361 12,31200000000000Apartments @ 0% H.O.E. 35,747 28,502 20,605 21,90100000000000Retail Commercial 0 22,101 23,967000000000000Restaurant Commercial 0 2,151 2,332000000000000Total Property Tax Revenue 48,34063,01758,26634,21300000000000Sales 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 17,416 17,718 17,96418,210 18,210 18,210 18,210 18,210 18,210 18,210 18,210 18,210 18,210 18,210 18,210Revised State Total Pop. ‐ <Avg 666,646666,948 667,194667,440667,440667,440667,440667,440667,440667,440667,440667,440667,440667,440667,440Revised Ammon Share 2.61% 2.66% 2.69% 2.73% 2.73% 2.73% 2.73% 2.73% 2.73% 2.73% 2.73% 2.73% 2.73% 2.73% 2.73%Revised Ammon Sales Tax ‐ Excess 393,201 407,820421,597 435,759 444,474453,363 462,431 471,679 481,113 490,735 500,550510,561 520,772 531,187 541,811Sales Tax Increment 6,629 13,51619,40825,52626,03626,55727,08827,63028,18228,74629,321 29,90730,505 31,11631,738Liquor Tax RevenueBase Liquor Tax 275,000279,842 284,769 288,863 293,016293,016293,016293,016301,806310,861 320,187 329,792 339,686349,876360,373Liquor Tax Per Capita 16.1 16.4 16.6 16.9 17.1 17.1 17.1 17.1 17.6 18.2 18.7 19.3 19.8 20.4 21.1New Residents 301 301 246 24600000000000Incremental Liquor Tax4,842 4,927 4,094 4,15300000000000New Liquor Tax Revenue 4,842 9,769 13,863 18,01618,01618,01618,01618,01618,01618,01627,34236,94746,841 57,03267,5283/2/2022Riviera Fiscal Impact ‐ FINALPage 6
Riviera Park Project ‐ Ammon, IdahoFiscal Impact AnalysisImpact on ExpendituresOperational Impact2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037Expenditures ‐ TotalLegislative 23,334 24,034 24,755 25,498 26,263 27,05127,862 28,698 29,559 30,446 31,359 32,300 33,269 34,267 35,295Executive 99,398 102,380 105,451 108,615 111,873 115,229 118,686 122,247 125,914 129,692 133,582 137,590 141,718 145,969 150,348Finance 110,186 113,492 116,897 120,404 124,016 127,736 131,568 135,515 139,581 143,768 148,081 152,524 157,099 161,812 166,667Clerk 17,593 18,121 18,665 19,224 19,801 20,395 21,00721,637 22,286 22,955 23,644 24,353 25,084 25,836 26,611Planning & Zoning 23,634 24,343 25,073 25,825 26,600 27,398 28,22029,067 29,939 30,837 31,762 32,715 33,696 34,707 35,748Engineering 18,132 18,676 19,236 19,813 20,408 21,02021,651 22,300 22,969 23,658 24,368 25,099 25,852 26,628 27,426Parks & Rec Fund Tsfr 87,580 90,208 92,914 95,701 98,572 101,529 104,575107,712 110,944 114,272 117,700 121,231 124,868 128,614 132,473Law Enforcement 237,985 245,125 252,479 260,053 267,854 275,890284,167 292,692 301,473 310,517 319,832 329,427 339,310 349,489 359,974Subtotal 617,843 636,378 655,470 675,134 695,388 716,249 737,737 759,869 782,665 806,145 830,329 855,239 880,896 907,323 934,543Expenditures ‐ 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 & Zoning 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%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 Tsfr 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%Law Enforcement 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0%Absorption By TypeTownhomes 25.0% 50.0% 75.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%Apartments 30.0% 60.0% 80.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%Retail Commercial 0.0% 50.0% 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%Restaurant Commercial 0.0% 50.0% 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%Proportionate ShareTownhomes 36% 36% 39% 40% 40% 40% 40% 40% 40% 40% 40% 40% 40% 40% 40%Apartments 64% 64% 61% 60% 60% 60% 60% 60% 60% 60% 60% 60% 60% 60% 60%Retail Commercial 0% 91% 91% 91% 91% 91% 91% 91% 91% 91% 91% 91% 91% 91% 91%Restaurant Commercial 0%9%9%9%9%9%9%9%9%9%9%9%9%9%9%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 & Zoning 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% 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 Tsfr 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% 100.0%Law Enforcement 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% 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 & Zoning 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% 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%Law Enforcement 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% 35.0%3/2/2022Riviera Fiscal Impact ‐ FINALPage 7
Riviera Park Project ‐ Ammon, IdahoFiscal Impact AnalysisImpact on ExpendituresOperational Impact2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037Townhomes Variable ExpendituresLegislative 62 129 215 307 316 326 336 346 356 367 378 389 401 413 425Executive 443 913 1,524 2,181 2,246 2,314 2,3832,455 2,528 2,604 2,682 2,763 2,846 2,931 3,019Finance 393 810 1,352 1,934 1,992 2,052 2,1142,177 2,242 2,309 2,379 2,450 2,524 2,599 2,677Clerk 628 1,293 2,159 3,088 3,181 3,276 3,3753,476 3,580 3,688 3,798 3,912 4,029 4,150 4,275Planning & Zoning 474 977 1,631 2,334 2,404 2,476 2,550 2,626 2,705 2,786 2,870 2,956 3,045 3,136 3,230Engineering 647 1,333 2,225 3,183 3,278 3,377 3,478 3,582 3,690 3,800 3,914 4,032 4,153 4,277 4,406Parks & Rec Fund Tsfr 4,688 9,658 16,118 23,060 23,752 24,465 25,19825,954 26,733 27,535 28,361 29,212 30,088 30,991 31,921Law Enforcement 4,140 8,529 14,235 20,365 20,976 21,60622,254 22,921 23,609 24,317 25,047 25,798 26,572 27,369 28,190Subtotal 11,477 23,642 39,458 56,453 58,146 59,890 61,687 63,538 65,444 67,407 69,429 71,512 73,658 75,867 78,143Apartments Variable ExpendituresLegislative 135 278 365 458 471 486 500 515 531 547 563 580 597 615 634Executive 959 1,975 2,592 3,250 3,347 3,448 3,551 3,658 3,767 3,880 3,997 4,117 4,240 4,367 4,498Finance 850 1,752 2,299 2,882 2,968 3,057 3,1493,244 3,341 3,441 3,544 3,651 3,760 3,873 3,989Clerk 1,358 2,797 3,670 4,602 4,740 4,882 5,0285,179 5,334 5,495 5,659 5,829 6,004 6,184 6,370Planning & Zoning 1,026 2,114 2,773 3,477 3,581 3,689 3,8003,914 4,031 4,152 4,276 4,405 4,537 4,673 4,813Engineering 1,399 2,883 3,783 4,743 4,885 5,0315,182 5,338 5,498 5,663 5,833 6,008 6,188 6,374 6,565Parks & Rec Fund Tsfr 10,139 20,886 27,406 34,360 35,391 36,453 37,54738,673 39,833 41,028 42,259 43,527 44,833 46,178 47,563Law Enforcement 8,954 18,445 24,203 30,345 31,255 32,19333,159 34,154 35,178 36,234 37,321 38,440 39,593 40,781 42,005Subtotal 24,820 51,129 67,091 84,116 86,640 89,239 91,916 94,674 97,514 100,439 103,452 106,556 109,753 113,045 116,436Retail Commercial Variable ExpendituresLegislative 0 219 451 465 479 493 508 523 539 555 572 589 606 625 643Executive 0 2,333 4,805 4,949 5,098 5,251 5,4085,570 5,737 5,910 6,087 6,269 6,457 6,651 6,851Finance 0 517 1,065 1,097 1,130 1,164 1,199 1,235 1,272 1,310 1,349 1,390 1,432 1,475 1,519Clerk 0 826 1,701 1,752 1,805 1,859 1,914 1,972 2,031 2,092 2,155 2,219 2,286 2,354 2,425Planning & Zoning 0 3,050 6,284 6,472 6,666 6,866 7,0727,284 7,503 7,728 7,960 8,199 8,445 8,698 8,959Engineering 0 851 1,753 1,806 1,860 1,916 1,9732,032 2,093 2,156 2,221 2,287 2,356 2,427 2,499Law Enforcement 0 11,728 24,159 24,884 25,631 26,399 27,191 28,007 28,847 29,713 30,604 31,522 32,468 33,442 34,445Subtotal 0 19,523 40,218 41,425 42,668 43,948 45,26646,624 48,023 49,463 50,947 52,476 54,050 55,672 57,342Restaurant Commercial Variable ExpendituresLegislative 0 21 44 45 47 48 49 51 52 54 56 57 59 61 63Executive 0 227 468 482 496 511 526 542 558 575 592 610 628 647 667Finance 0 50 104 107 110 113 117 120 124 127 131 135 139 143 148Clerk 0 80 166 170 176 181 186 192 198 204 210 216 222 229 236Planning & Zoning 0 297 611 630 649 668 688 709 730 752 775 798 822 846 872Engineering 0 83 171 176 181 186 192 198 204 210 216 223 229 236 243Law Enforcement 0 1,141 2,351 2,422 2,494 2,569 2,646 2,725 2,807 2,891 2,978 3,068 3,160 3,254 3,352Subtotal 0 1,900 3,914 4,031 4,152 4,277 4,4054,537 4,673 4,813 4,958 5,107 5,260 5,418 5,580Total Variable ExpendituresLegislative 198 647 1,075 1,275 1,313 1,353 1,393 1,435 1,478 1,522 1,568 1,615 1,663 1,713 1,765Executive 1,402 5,448 9,389 10,861 11,187 11,523 11,869 12,225 12,591 12,969 13,358 13,759 14,172 14,597 15,035Finance 1,244 3,129 4,820 6,020 6,201 6,387 6,578 6,776 6,979 7,188 7,404 7,626 7,855 8,091 8,333Clerk 1,986 4,996 7,695 9,612 9,901 10,198 10,50410,819 11,143 11,478 11,822 12,177 12,542 12,918 13,306Planning & Zoning 1,500 6,438 11,300 12,913 13,300 13,699 14,11014,533 14,969 15,418 15,881 16,357 16,848 17,354 17,874Engineering 2,046 5,149 7,931 9,907 10,204 10,51010,825 11,150 11,485 11,829 12,184 12,550 12,926 13,314 13,713Parks & Rec Fund Tsfr 14,827 30,543 43,524 57,421 59,143 60,918 62,74564,627 66,566 68,563 70,620 72,739 74,921 77,169 79,484Law Enforcement 13,094 39,843 64,948 78,016 80,356 82,76785,250 87,808 90,442 93,155 95,950 98,828 101,793 104,847 107,992Total Variable Expenditures 36,297 96,195 150,681 186,025 191,605 197,354 203,274 209,373 215,654 222,123 228,787 235,651 242,720 250,002 257,5023/2/2022Riviera Fiscal Impact ‐ FINALPage 8