Demolition Strategy Work
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Row Labels 210 1 Family Res 220 2 Family Res 230 3 Family Res 280 Multiple res 311 Res vac land 312 Vac w/imprv 411 Apartment Grand Total
Values Number of Parcels Sum of Units 12 31 2 1 4 1 4 55
12 62 6 2 0 0 17 99
Sum of Assess Average of Assess2 Average of Market $524,000 $43,667 $60,996 $1,138,750 $36,734 $51,548 $68,000 $34,000 $47,493 $80,000 $80,000 $111,747 $10,200 $2,550 $3,562 $17,100 $17,100 $23,886 $150,000 $37,500 $52,382 $1,988,050 $36,146 $50,624
Baseline Data (from Montgomery County Tax Rolls and Web Site) City Tax Rate per thousand Assessed$13.89 User Fees per Unit 769 Total Number of Parcels 55 Total Number of Units 99 Avg Units/Parcel 1.8 Avg Assessed Value $36,146 Avg Market Value $50,624 Assumptions Demolition Cost 9000 Discount Rate 5% Analysis Approach Net Present Value School Tax and County Tax Ignored Tax Incentive Plan for 50% New of Single assessed Family value Homes first 5 years, +10%/year for each year after Single Family Homes Constructed at 120% of average market value 2008 City Tax Rate Constant Over 10 years User Fees Constant over 10 years
120%
$60,748.95
Scenario 1: Perfect World Year 1 Number of Parcels Number of Demolitions Net Parcels Net Units Revenue City Tax Revenue User Fees Total Revenue City Revenue NPV
Year 2 55 0 55 99 $27,614 $76,131 $103,745
Year 3 55 0 55 99 $27,614 $76,131 $103,745
Year 4 55 0 55 99 $27,614 $76,131 $103,745
Year 5 55 0 55 99 $27,614 $76,131 $103,745
Year 6
55 0 55 99 $27,614 $76,131 $103,745
Year 7
55 0 55 99 $27,614 $76,131 $103,745
Year 8
55 0 55 99 $27,614 $76,131 $103,745
Year 9
55 0 55 99 $27,614 $76,131 $103,745
Year 10
55 0 55 99 $27,614 $76,131 $103,745
55 0 55 99 $27,614 $76,131 $103,745
$801,091.50
Scenario 2: 5 Foreclosures/ 5 Demo Year 1 Number of Parcels
Year 2 55
Year 3 50
Year 4 50
Year 5 50
Year 6 50
Year 7 50
Year 8 50
Year 9 50
Year 10 50
50
Number of Demolitions Net Parcels Net Units Revenue City Tax Revenue User Fees Total Revenue Existing Demolition Cost New Construction New Construction Units New Construction Market Value City Tax Incentive Discount Revenue City Tax Revenue User Fees Total Revenue New Construction Total Revenue City Revenue NPV $735,541.07
5 50 90 $25,104 $69,210 $94,314
0 50 90 $25,104 $69,210 $94,314
0 50 90 $25,104 $69,210 $94,314
0 50 90 $25,104 $69,210 $94,314
0 50 90 $25,104 $69,210 $94,314
0 50 90 $25,104 $69,210 $94,314
0 50 90 $25,104 $69,210 $94,314
0 50 90 $25,104 $69,210 $94,314
0 50 90 $25,104 $69,210 $94,314
0 50 90 $25,104 $69,210 $94,314
$45,000 5 5 $303,745 0.5 $2,110 $3,845 -$39,045 $55,268
0 5 $303,745 0.5 $2,110 $3,845 $5,955 $100,268
0 5 $303,745 0.5 $2,110 $3,845 $5,955 $100,268
0 5 $303,745 0.5 $2,110 $3,845 $5,955 $100,268
0 5 $303,745 0.5 $2,110 $3,845 $5,955 $100,268
0 5 $303,745 0.6 $2,531 $3,845 $6,376 $100,690
0 5 $303,745 0.7 $2,953 $3,845 $6,798 $101,112
0 5 $303,745 0.8 $3,375 $3,845 $7,220 $101,534
0 5 $303,745 0.9 $3,797 $3,845 $7,642 $101,956
0 5 $303,745 1.0 $4,219 $3,845 $8,064 $102,378
Scenario 3: 10 Foreclosures/10 Demo Year 1 Number of Parcels Number of Demolitions Net Parcels Net Units Revenue City Tax Revenue User Fees Total Revenue Existing Demolition Cost New Construction New Construction Units New Construction Market Value City Tax Incentive Discount Revenue City Tax Revenue User Fees Total Revenue New Construction Total Revenue City Revenue NPV $669,990.64
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
Year 8
Year 9
Year 10
55 10 45 81 $22,593 $62,289 $84,882
45 0 45 81 $22,593 $62,289 $84,882
45 0 45 81 $22,593 $62,289 $84,882
45 0 45 81 $22,593 $62,289 $84,882
45 0 45 81 $22,593 $62,289 $84,882
45 0 45 81 $22,593 $62,289 $84,882
45 0 45 81 $22,593 $62,289 $84,882
45 0 45 81 $22,593 $62,289 $84,882
45 0 45 81 $22,593 $62,289 $84,882
45 0 45 81 $22,593 $62,289 $84,882
$90,000 10 10 $607,490 0.5 $4,219 $7,690 -$78,091 $6,791
$0 0 10 $607,490 0.5 $4,219 $7,690 $11,909 $96,791
$0 0 10 $607,490 0.5 $4,219 $7,690 $11,909 $96,791
$0 0 10 $607,490 0.5 $4,219 $7,690 $11,909 $96,791
$0 0 10 $607,490 0.5 $4,219 $7,690 $11,909 $96,791
$0 0 10 $607,490 0.6 $5,063 $7,690 $12,753 $97,635
$0 0 10 $607,490 0.7 $5,907 $7,690 $13,597 $98,479
$0 0 10 $607,490 0.8 $6,750 $7,690 $14,440 $99,323
$0 0 10 $607,490 0.9 $7,594 $7,690 $15,284 $100,167
$0 0 10 $607,490 1.0 $8,438 $7,690 $16,128 $101,010
Scenario 4: 15 Foreclosures/15 Demo Year 1 Number of Parcels Number of Demolitions Net Parcels Net Units Revenue City Tax
Year 2 55 10 45 81 $22,593
Year 3 45 5 40 72 $20,083
Year 4 40 0 40 72 $20,083
Year 5 40 0 40 72 $20,083
40 0 40 72 $20,083
Year 6 40 0 40 72 $20,083
Year 7 40 0 40 72 $20,083
Year 8 40 0 40 72 $20,083
Year 9 40 0 40 72 $20,083
Year 10 40 0 40 72 $20,083
Revenue User Fees Total Revenue Existing Demolition Cost New Construction New Construction Units New Construction Market Value City Tax Incentive Discount Revenue City Tax Revenue User Fees Total Revenue New Construction Total Revenue City Revenue NPV $609,792.32
$62,289 $84,882
$55,368 $75,451
$55,368 $75,451
$55,368 $75,451
$55,368 $75,451
$55,368 $75,451
$55,368 $75,451
$55,368 $75,451
$55,368 $75,451
$55,368 $75,451
$90,000 10 10 $607,490 0.5 $4,219 $7,690 -$78,091 $6,791
$45,000 5 15 $911,234 0.5 $6,329 $11,535 -$27,136 $48,314
$0 0 15 $911,234 0.5 $6,329 $11,535 $17,864 $93,314
$0 0 15 $911,234 0.5 $6,329 $11,535 $17,864 $93,314
$0 0 15 $911,234 0.5 $6,329 $11,535 $17,864 $93,314
$0 0 15 $911,234 0.6 $7,594 $11,535 $19,129 $94,580
$0 0 15 $911,234 0.7 $8,860 $11,535 $20,395 $95,846
$0 0 15 $911,234 0.8 $10,126 $11,535 $21,661 $97,112
$0 0 15 $911,234 0.9 $11,391 $11,535 $22,926 $98,377
$0 0 15 $911,234 1.0 $12,657 $11,535 $24,192 $99,643
Values Number of Parcels Sum of Units 12 31 2 1 4 1 4 55
12 62 6 2 0 0 17 99
Sum of Assess Average of Assess2 Average of Market $524,000 $43,667 $60,996 $1,138,750 $36,734 $51,548 $68,000 $34,000 $47,493 $80,000 $80,000 $111,747 $10,200 $2,550 $3,562 $17,100 $17,100 $23,886 $150,000 $37,500 $52,382 $1,988,050 $36,146 $50,624
Baseline Data (from Montgomery County Tax Rolls and Web Site) City Tax Rate per thousand Assessed$13.89 User Fees per Unit 769 Total Number of Parcels 55 Total Number of Units 99 Avg Units/Parcel 1.8 Avg Assessed Value $36,146 Avg Market Value $50,624 Assumptions Demolition Cost 9000 Discount Rate 5% Analysis Approach Net Present Value School Tax and County Tax Ignored Tax Incentive Plan for 50% New of Single assessed Family value Homes first 5 years, +10%/year for each year after Single Family Homes Constructed at 120% of average market value 2008 City Tax Rate Constant Over 10 years User Fees Constant over 10 years
120%
$60,748.95
Scenario 1: Perfect World Year 1 Number of Parcels Number of Demolitions Net Parcels Net Units Revenue City Tax Revenue User Fees Total Revenue City Revenue NPV
Year 2 55 0 55 99 $27,614 $76,131 $103,745
Year 3 55 0 55 99 $27,614 $76,131 $103,745
Year 4 55 0 55 99 $27,614 $76,131 $103,745
Year 5 55 0 55 99 $27,614 $76,131 $103,745
Year 6
55 0 55 99 $27,614 $76,131 $103,745
Year 7
55 0 55 99 $27,614 $76,131 $103,745
Year 8
55 0 55 99 $27,614 $76,131 $103,745
Year 9
55 0 55 99 $27,614 $76,131 $103,745
Year 10
55 0 55 99 $27,614 $76,131 $103,745
55 0 55 99 $27,614 $76,131 $103,745
$801,091.50
Scenario 2: 5 Foreclosures/ 5 Demo Year 1 Number of Parcels
Year 2 55
Year 3 50
Year 4 50
Year 5 50
Year 6 50
Year 7 50
Year 8 50
Year 9 50
Year 10 50
50
Number of Demolitions Net Parcels Net Units Revenue City Tax Revenue User Fees Total Revenue Existing Demolition Cost New Construction New Construction Units New Construction Market Value City Tax Incentive Discount Revenue City Tax Revenue User Fees Total Revenue New Construction Total Revenue City Revenue NPV $735,541.07
5 50 90 $25,104 $69,210 $94,314
0 50 90 $25,104 $69,210 $94,314
0 50 90 $25,104 $69,210 $94,314
0 50 90 $25,104 $69,210 $94,314
0 50 90 $25,104 $69,210 $94,314
0 50 90 $25,104 $69,210 $94,314
0 50 90 $25,104 $69,210 $94,314
0 50 90 $25,104 $69,210 $94,314
0 50 90 $25,104 $69,210 $94,314
0 50 90 $25,104 $69,210 $94,314
$45,000 5 5 $303,745 0.5 $2,110 $3,845 -$39,045 $55,268
0 5 $303,745 0.5 $2,110 $3,845 $5,955 $100,268
0 5 $303,745 0.5 $2,110 $3,845 $5,955 $100,268
0 5 $303,745 0.5 $2,110 $3,845 $5,955 $100,268
0 5 $303,745 0.5 $2,110 $3,845 $5,955 $100,268
0 5 $303,745 0.6 $2,531 $3,845 $6,376 $100,690
0 5 $303,745 0.7 $2,953 $3,845 $6,798 $101,112
0 5 $303,745 0.8 $3,375 $3,845 $7,220 $101,534
0 5 $303,745 0.9 $3,797 $3,845 $7,642 $101,956
0 5 $303,745 1.0 $4,219 $3,845 $8,064 $102,378
Scenario 3: 10 Foreclosures/10 Demo Year 1 Number of Parcels Number of Demolitions Net Parcels Net Units Revenue City Tax Revenue User Fees Total Revenue Existing Demolition Cost New Construction New Construction Units New Construction Market Value City Tax Incentive Discount Revenue City Tax Revenue User Fees Total Revenue New Construction Total Revenue City Revenue NPV $669,990.64
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
Year 8
Year 9
Year 10
55 10 45 81 $22,593 $62,289 $84,882
45 0 45 81 $22,593 $62,289 $84,882
45 0 45 81 $22,593 $62,289 $84,882
45 0 45 81 $22,593 $62,289 $84,882
45 0 45 81 $22,593 $62,289 $84,882
45 0 45 81 $22,593 $62,289 $84,882
45 0 45 81 $22,593 $62,289 $84,882
45 0 45 81 $22,593 $62,289 $84,882
45 0 45 81 $22,593 $62,289 $84,882
45 0 45 81 $22,593 $62,289 $84,882
$90,000 10 10 $607,490 0.5 $4,219 $7,690 -$78,091 $6,791
$0 0 10 $607,490 0.5 $4,219 $7,690 $11,909 $96,791
$0 0 10 $607,490 0.5 $4,219 $7,690 $11,909 $96,791
$0 0 10 $607,490 0.5 $4,219 $7,690 $11,909 $96,791
$0 0 10 $607,490 0.5 $4,219 $7,690 $11,909 $96,791
$0 0 10 $607,490 0.6 $5,063 $7,690 $12,753 $97,635
$0 0 10 $607,490 0.7 $5,907 $7,690 $13,597 $98,479
$0 0 10 $607,490 0.8 $6,750 $7,690 $14,440 $99,323
$0 0 10 $607,490 0.9 $7,594 $7,690 $15,284 $100,167
$0 0 10 $607,490 1.0 $8,438 $7,690 $16,128 $101,010
Scenario 4: 15 Foreclosures/15 Demo Year 1 Number of Parcels Number of Demolitions Net Parcels Net Units Revenue City Tax
Year 2 55 10 45 81 $22,593
Year 3 45 5 40 72 $20,083
Year 4 40 0 40 72 $20,083
Year 5 40 0 40 72 $20,083
40 0 40 72 $20,083
Year 6 40 0 40 72 $20,083
Year 7 40 0 40 72 $20,083
Year 8 40 0 40 72 $20,083
Year 9 40 0 40 72 $20,083
Year 10 40 0 40 72 $20,083
Revenue User Fees Total Revenue Existing Demolition Cost New Construction New Construction Units New Construction Market Value City Tax Incentive Discount Revenue City Tax Revenue User Fees Total Revenue New Construction Total Revenue City Revenue NPV $609,792.32
$62,289 $84,882
$55,368 $75,451
$55,368 $75,451
$55,368 $75,451
$55,368 $75,451
$55,368 $75,451
$55,368 $75,451
$55,368 $75,451
$55,368 $75,451
$55,368 $75,451
$90,000 10 10 $607,490 0.5 $4,219 $7,690 -$78,091 $6,791
$45,000 5 15 $911,234 0.5 $6,329 $11,535 -$27,136 $48,314
$0 0 15 $911,234 0.5 $6,329 $11,535 $17,864 $93,314
$0 0 15 $911,234 0.5 $6,329 $11,535 $17,864 $93,314
$0 0 15 $911,234 0.5 $6,329 $11,535 $17,864 $93,314
$0 0 15 $911,234 0.6 $7,594 $11,535 $19,129 $94,580
$0 0 15 $911,234 0.7 $8,860 $11,535 $20,395 $95,846
$0 0 15 $911,234 0.8 $10,126 $11,535 $21,661 $97,112
$0 0 15 $911,234 0.9 $11,391 $11,535 $22,926 $98,377
$0 0 15 $911,234 1.0 $12,657 $11,535 $24,192 $99,643
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