HomeMy WebLinkAbout2015-914-11/23/2015 Prepared by Kelley Felchle, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703, 319-291-4323 .
RESOLUTION NO. 2015-914
RESOLUTION APPROVING CERTIFICATION TO THE
BLACK HAWK COUNTY AUDITOR EXPENDITURES THAT
QUALIFY FOR REIMBURSEMENT IN THE FY2015 SAN
MARNAN TAX INCREMENT DISTRICT AND PLACE THE
CERTIFICATION ON FILE.
WHEREAS, the Code of Iowa allows the City to collect taxes
within a certain geographical district to be deposited in a "Tax
Increment Financing Fund", and
WHEREAS, certification of the City' s expenditures within
said district must be made to the County Auditor on a yearly
basis .
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
WATERLOO, IOWA, that the City Clerk is instructed to certify to
the County Auditor all expenditures of the City that qualify for
reimbursement from the Tax Increment Fund in the San Marnan Tax
Increment District, as indicated in attached Exhibit "A" and
Exhibit "B", -are hereby approved.
PASSED AND ADOPTED this 23rd day of November 2015 .
Ernest G. Clark, Mayor
ATTEST:
elley FoTchle
Deputy C ' ty Clerk
CITY TIF FORM 1-INDEBTEDNESS CERTIFICATION Cover Sheet
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III CODE OF IOWA SECTION 403.19 TAX INCREMENT FINANCING (TIF)INDEBTEDNESS
CERTIFICATION TO COUNTY AUDITOR
Due To County Auditor By December 1 Prior To The Fiscal Year TIF Increment Tax Is Requested
Use One Certification Per urban Renewal Area
City: Waterloo County: Black Hawk I
Urban Renewal Area Name: Waterloo San Marnan Urban Renewal
Urban Renewal Area Number: 07030I
(Use five-digit Area Number Assigned by the County Auditor)
I herebycertify to the Count Auditor that for h
ty y the Urban Renewa(Area within the City and County named above the
City has outstanding loans, advances, indebtedness, or bonds, none of which have been previously certified, in the
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collective amount shown below, all of which qualify for repayment from the special fund referred to in paragraph 2 I
of Section 403.19 of the Code of Iowa.
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Urban Renewal Area Indebtedness Not Previously Certified*: $ 1,087,488
*There must be attached a supporting itemized listing of the dates that individual loans, advances, indebtedness, or
bonds were initially approved by the governing body. (Complete and attach'CITY TIF FORM 1.1'.)
The County Auditor shall provide`the available TIF increment tax in subsequent fiscal years without further certification `
until the above-stated amount of indebtedness is paid to the City. However, for any fiscal year a City may elect to
receive less than the available TIF increment tax by certifying the requested amount to the County Auditor on or
before the preceding December 1. (File'CITY TIF FORM 2'with the County Auditor by the preceding December 1
for each of those fiscal years where all of the TIF increment tax is not requested.) k.
A City reducing certified TIF indebtedness by any reason other than application of TIF increment tax received from y
the County Treasurer shall certify such reduced amounts to the County Auditor no later than December 1 of the year
of occurrence. (File'CITY T1F'FORM S with the County Auditor when TIF indebtedness has been reduced by any
reason other than application of TIF increment tax received from the County Treasurer_.)
Notes/Additional Information:
Please note that we removed$129,088 in debt reductions and revenue adjustments using Form 3 that did not carry
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to this form. Net debt outstanding at 6/30/2015.should be$3,108,162.66.
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Dated this 26th day of November 2015
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319.291.4323
Signature,of Authorized Official Telephone
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CITY TIF FORM 1.1-To be attached to CITY TIF FORM 1 -INDEBTEDNESS CERTIFICATION Page 1
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TIF INDEBTEDNESS NOT PREVIOUSLY CERTIFIED ELIGIBLE FOR TAX COLLECTIONS NEXT FISCAL YEAR
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City: Waterloo County: Black Hawk
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Urban Renewal Area Name: Waterloo San Marnan Urban Renewal
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Urban Renewal Area Number: 07030 (Use five-digit Area Number Assigned by the County Auditor)
Individual TIF Indebtedness Type/Description/Details: Date Approved*: Total Amount:
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1. Greater Cedar Valley Alliance:$12,833.34 1/12/15,6122/15 12,833
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F 'W this box if a rebate agreement. List administrative details on lines above.
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2. .L&H Farms:$132,410.50 10/21/2013 132,411 s
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n%'this box if a rebate agreement. List administrative details on lines above.
3. GO America tax rebate estimate adjustment:$103,269 08/10/2008 103,269 s
7 years at 100%, 1 year at 80%. t
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f x%'this box if a rebate agreement. List administrative details on lines above.
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4. Administrative Expenses:$6,253.74 06/29/2015 6,254
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FjW this box if a rebate agreement, List administrative details on lines above.
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5, San Marnan Management, Ltd.Grant:$750,000 04/27/2015 750,000
n'X this box if a rebate agreement. List administrative details on lines above.
If more Indebtedness entry lines are needed continue to Form 1.1 Page 2.
Total For City TIF Form 1.1 Page 1: 1,004,767
""Date Approved"is the date that the local governing body initially approved the TIF indebtedness.
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CITY TIF FORM 1.1-To be attached to CITY TIF FORM 1 -INDEBTEDNESS CERTIFICATION Page 2
TIF INDEBTEDNESS NOT PREVIOUSLY CERTIFIED ELIGIBLE FOR TAX COLLECTIONS NEXT FISCAL YEAR
City: Waterloo County: Black Hawk
Urban Renewal Area Name: Waterloo San Marnan Urban Renewal
Urban Renewal Area Number: 07030 (Use five-digit Area Number Assigned by the County Auditor)
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Individual TIF Indebtedness Type/Description/Details: Date Approved*: Total Amount:
B. Galactic/Fitzway Drive Extension:$48,572 09/18/2015 48,572
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rj X'this box if arebate agreement. List administrative details on lines above.
7. Fisher Drive Sanitary Sewer Extension:$34,149 08/24/2015 34,149 ;;
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FI Xthis box if a rebate agreement. List administrative details on lines above. I
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nW this box if a rebate agreement. List administrative details on lines above.
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OW this box if a rebate agreement. List administrative details on lines above.
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10.
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[J X'this box if a rebate agreement. List administrative details on lines above.
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If more Indebtedness entry lines are needed continue to Form 1.1 Page 3.
Total For City TIF Form 1.1 Page 2: 82,721
*"Date Approved"is the date that the local governing body initially approved the TIF indebtedness.
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CITY TIF FORM 3 j
TIF INDEBTEDNESS HAS BEEN REDUCED BY REASON OTHER THAN APPLICATION OF
TIF INCREMENT TAX RECEIVED FROM THE COUNTY TREASURER
CERTIFICATION TO COUNTY AUDITOR
Use One Certification Per Urban Renewal Area
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City: Waterloo County: Black Hawk
Urban Renewal Area Name: Waterloo San Marnan Urban Renewal
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Urban Renewal Area Number: 07030 (Use five-digit Area Number Assigned by the County Auditor)
I hereby certify to the County Auditor that for the Urban Renewal Area within the City and County named above, the
City has reduced previously certified indebtedness,,by reason other than application of TIF increment tax received
from the County Treasurer, by the total amount as shown below.
Provide sufficient detail so that the County Auditor',will know how to specially administer your request. For example,
you could have multiple indebtedness certifications in the Urban Renewal Area,-and the County Auditor would need
to know which particular indebtedness certifcation(s)to reduce. If rebate agreements are involved with a reduction, I
and the County has segregated the rebate property into separate TIF Increment taxing districts, provide the five-digit a
county increment taxing district numbers for reference.
Individual TIF Indebtedness Type/Description/Details:
Amount
Reduced:
Interest received during FYE15:$469.62 479
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Financial Resource Advisors Tax Rebate Estimate Adjustment:Decrease of$14,588 14,588
Cardinal Medical Office Tax Rebate Estimate Adjustment:Decrease of$103,058 103,058
WW Grainger Tax Rebate Estimate Adjustment:decrease of$10394 10,394 t
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Cardinal Veterans Clinic Tax Rebate Estimate Adjustment: Decrease of$578 578
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Total Reduction In Indebtedness For This Urban Renewal Area: 129,088
Dated this 26th day of November 2015
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319.291.4323
Signature of Authorized Official Telephone E
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EXHIBIT
-..- dune 30,2015
--._.. _..._.............
Pr olect Desianation_San Mar nan Tax Increment Development Arca 1
Schedule 1 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403,19(2
No. Date Of Issuance Source Description of Indebtedness Cumulative
or Expenditure Amount
AMOUNT INCURRED
Land Acquisition FY 1999 $548,856.00 Contract debt $548,856.00
Interest FY 02 $106,427.98 $655,283,98
Interest FY 03 $42,502.01 $697,785.99
Interest FY 04 $16,795.35 $714,581,34
Interest FY 05 $11,094.86 $176,820.20
Interest FY 06 $12,570.24 $82,962.46
Interest FY 07 $12,303.70 $52,764.15
Interest FY 08 $7,065.09 $758,215.23
Road FY 1999
....... ...........-- t
Recording Fees FY 99 Principal $2,373.60 G.O.Bonds $760,588.83
Design&Construction Eng. Principal $15,419.70 G.O.Bonds $776,008.53
Construction of Rd&Sewer Principal $78,364.41 G.O.Bonds $854,372.94 1
Financing FY 99.00 Interest $64,919.28 G,O.Bonds $919,292.22
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GMAC Tax Rebates Principal TIF Rebate
75%2003 $126460.50 $1,045,752.72
60%21004 $121,497.60 $1,167,250.32
459a Zoos $105,821.10 $1,273,07I.42
30%2006 $72,557.49 $1,345,628.91
15%2007 $31,691.70 $1,377,320.61
VGM Tax Rebates Principal TIF Rebate
50%2009
$50,788.00 $1,428,108.6
50%2010 $152,742,00 $1,580,850.61
50//2011 $102,094.00 $1,682,944.61 1
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sol $101,146.00 $1,784,090.61
SM.2013 $111,138.00 $1,895,228.61
CV Medical HQ Principal TIF Rebate
50%2009 $117,232.07 $2,012,460.68
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$86,
68.00 $2,098,528.68
50%2010 $86,1 0
86.00 $2;184,714.68 l
$55,455.01 $2,240,169.69
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-_- 50%2012
50%2013 $0.00 $2,240,169.69
WW Grainger,Inc. $2,240,169,69 §
100%2012 $186,234.00 $2,426,403.69
l00%2013 $193,342.00 $2,619,745.69
too%zol4 $180,624.00 $2,800,369.69
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loci 21615 $174,488.00 $2,974,857.69
._ ... ....- ._._ ..., ... .....-
100%2016• $166,238.00 $3,141,095.69
I W1201/6 $166,238.00 $3,307,333.69
49•�2019- $81,456,00 $3,388,789.69
Financial Resource Advisors Principal TIF Rebate $3,388,789.69
boli 2°121 $74,596.00 $3,463,385,69
1001/21013 $72,824.00 $3,536,209.69 .i
1001/6 2014 $68,034.00 $3,604,243.69 j
100^1 lois $65,090.00 $3,669,333.69
_.-__---.___..._._-._--
loo%21016- $58,724.00 $3,728,057.69
100%2017' $61,338.00 $3,789,395.69
52%2019- $31,896.00 $3,821,291.69
Cardinal Medical Office Principal TIF Rebate t
1001/2013 $100128.00 $3,921,419.69 a
Io0%2014 $46,216.00 $3,967,635,69
t00%2015 $22,240.00 $3,989,875.69
100%2016- $21,268.00 $4,011,143.69
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June 30,2015
Piojcct Designation: an Marnan TaxIncrement Develonment Arca r
Schedule 1
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Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2) s
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100%2017* $21,268.00 $4,032,411.69
tool 2013* $21,268.00 $4,053,679.69
eo%2019* $17,014.00 $4,070,693.69 r
GO America Principal TIP Rebate B
100^l,2015 $22,451.00 $4,093,144.69
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100%2016* $21,268,00 $4,114,412.69
100%2017* $21,268.00 $4,135,680.69
too%2oi8+
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$21,268.00 $4,156,948.69
86.%AHO $17,014.00 $4,173,962.69
MBAK
Principal TIF Rebate C
t00%2014 $57,124.00 $4,231,086.69
100%2015 $54,500.00 $4,285,586.69
100%2016* $52,576.00 $4,338,162.69
100%2017* $52,576.00 $4,390,738.69 1
tool tots* $52,576,00 $4,443,314.69
100%2019' $52,576.00 $4,495,890.69
100%2020* $52,576.00 $4,548,466.69
i 36%2021' $18,928.00 $4,567,394.69
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Cardinal Veterans Clinic Principal TIF Rebate
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x9%201^ $56,326.00' $4,623,720.69
- ...--_ 89%20ts $27,073.00 $4,650,793.69
99%201 6 $78,913.00 $4,729,706.69
s9%2017• $51,840.00 $4,781,546.69
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89%201e $51,840.00 $4,833,386.69
891/62019• $51,840.00 $4,885,226.69
...............................__._ ...
89%2020' $51,840.00 $4,937,066.69
89'/2021* $51,840.00 $4,988,906.69
89%2022* * $51,840.00 $5,040,746.69 e
89%202 $51,840.00 $5,092,586.69 1
MFGC,LLC Principal TIF Rebate
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72%2016* $27,742.00 $5,120,328.69
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7ti<zotr a $28,344.00 $5,148,672.69 0
71%2018• $28,344.00 $5,177,016.69
71%2019* $28,344.00 $5,205,360.69
71%2020* $28,344.00 $5,233,704.69
n%2021* $28,344.00 $5,262,048.69
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71%2022-
$28,344.00 $5,240,392,64
71%2023* $28,344.00 $5,318,736.69
71%2023* Ar $28,344.00 $5,347,080.69
71'/.2025* $28,344.00 $5,375,424.69
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CBC Land Purchase Principal $740,000.00 2005 GO Bonds $6,115,424.69
Interest $245,900.00 2005 GO Bonds $6,361,324.69
VGM Access Road 600 Principal 000.00 2005 GO Bon }
p $ ds $6,961,324.b9
Interest $197,330.00 2005 GO Bonds $7,158,654.69
VGM Fund 406-FY2006 Principal $400,000.00 2006 GO Bonds $7,558,654.69
Interest $223,315,02 2006 GO Bonds $7,781,969.71
San Maman Development `Principal $100,000.00 2007 GO Bonds $7,881,969.71
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Fund 407 FY2007 Interest $35,153:50 2007 GO Bonds $7,917,123.21
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San Marnan Development Principal $200,000.00 2008 GO Bonds $8,117,123.21
Fund 408 FY2008 Interest $59,000.00 2008 GO Bonds $8,176,123.21
San Marnan Development-Fund Principal ($280,000.01}1 2006 GO Bonds $7,896,123.21
406 -Refund old Debt Interest ($76.862.50) 2006 GO Bonds $7,814,260.71
San Marnan Development-Fund Principal $280,000.00 2013 GO Bonds $8,099,260,71
413 -Reflnance406Funds Interest $23,153.60 2013 GO Bonds $8,122,414.31
San Marnan Development-Fund Principal ($355,000,00) 2005 GO Bonds $7,767,414.31
405 -Refund old Debt Interest ($66,865.00) 2005 GO Bonds $7,700,549.31 '
San Marnan Development-Fund Principal $355,000.00 2012 GO Bonds $8,055,549.31
412•-Refinance 406 Funds Interest $35,569.00 2012 GO Bonds $8,091,118.31
Marnan to m n -Fund Principal ($445.(100.00) 2005 GO Bonds $7,646,118.31 j
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— EXHIBIT"Ae
June 30,2015
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Project Designation_San Marnan Tax Increment Development Area E
Schedule 1 —_--
Indebtedness Qualifying fm Tax Increment Reimbursement
Under Section 403.19 2
405 -Refund old Debt' Interest ($84.160.00) 2005 GO Bonds $7,561,958.31
San Maman Development-Fund Principal $445,000.00 2012 GO Bonds $8,006,958.31
412 -Refinance 408 Funds Interest $44,575.97 2012 GO Bonds $8,051,534.28
Tower Park Dr&Sewer-FY principal ($57,420.00) 2000 GO Bonds $7,994,114.28
2000 -Refund old Debt interest ($17,678.011) 2000 GO Bonds $7,976,436,28
Tower Park Or&Sewer-Fund principal $57,420.00 2007 GO Bonds $8,033,856.28
407 -Refinance FY 00 Funds interest $2,232.00 2007 GO Bonds $8,036,088.28
Fund 407-Reallocated from Principal $19,140.80 2007 GO Bonds $8,055,229,08
Lagan Ave Interest "$6,786.57 $8,062,015.65
Fund 407-Reallocated from Principal $48,071.35 2007 GO Bonds $8,110,087.00
Martin Rd s Interest $17,044.18 $8,127,131.18
Fund 408-Reallocated from Principal $75,000.00 2008 GO Bonds $8,202,131.18
Logan Ave Interest $23,750.00 $8,225,881,18
Fund 408-Reallocated from Principal $80,000.00 2008 GO Bonds $8,305,881.18
Martin Rd Interest $25,000.00 $8,330,881,18
L&H Farms Advance $439,179.20 Advance $8,770,060.38
Dry Run Sewer Study(FY10) Advance $19.69 Advance $8,770,080.07
Dry Run Sewer Study(FY11) Advance $9,539.75 Advance $8,779,619.82
L&H Farms Advance $751,943.25 Advance $9,531,563.07
Env.Site Assessment Advance $5,999.28 Advance $9,537,562.35 1
FYI GCVA Principal $16,167.00 Contract $9,553,729.35
FY 13 GCVA Principal $24,000.00 Contract $9,577,729.35
FY14 GCVA Principal $16,166.66 Contract $9,593,896.01
FYI GCVA Principal $12,833.34 Contract $9,606,729.35 E
FY13 L&H Farms Advance $334,109.50 Advance $9,940,838.85
FY14 L&H Farms Advance $857,909.51 Advance $10,798,748.36
FYI L&H Farms Advance $132,410.50 Advance $10,931,158.86
FY15 Administrative Expenses Advance $6,253.74 Advance $10,937,412.60
San Maman Management,Ltd. Advance Advance $11,687,412,60 x
Grant $750,000.00
Galact€clFitzway Dr Extension Advance $48,572.00 Advance'
$11,735,984.60
Fisher Drive Sewer Ext. Advance $34,149.00 Advance $11,770,133.60
*Estimated
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EXHIBIT "B"
June 30 2015
Project Designation: San Marnau Tax Increment Development Area
Schedule 2
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
No. Year Received Amount Other Revenue Cumulative Amount
Received from Received
Payments under
FY 1997 $0.00 $0.00
FY 1998 $0.00 $0.00
FY 1999 $0.00 $0.00
FY 2000 $0.00 $0.00
FY 2001 $0.00 $0.00
1 FY 2002 $115,934.72 $115,934.72
2 FY 2003 $146,872.14 $180 000.00 $442,806.86
3 FY 2004 $177,843.34 $620,650.20
4 FY 2005 $205,851.80 $826,502.00
5 FY2006 $214,330.06 $1,040,832.06
6 FY2007 $199,764.79 $6;118.47 $1,246,715.32
7 FY2008 , $395,258.07 $10,724.47 $1,652,697.86
8 FY2009 $690,16190 $1,252.06 $2,344,111.82
9 FY2010 $715,267.61 $943.98 $3,060,323.41
10 FY2011 $898,340.12 $353.67 $3,959,017.20
11 FY2012 $1,057,234.37 $995.06 $5,017,246.63
12 FY2013 $1,240,893.60 $345.77 $6,258,486.00
13 FY2014 $1,181,125.96 $1,402.62 $7,441,014.58
14 FY2015 $1,220,486.74 $469.62 $8,661,970.94
15 FY2016* $1,235,013.00 $9,896,983.94
16 FY2017* $1,249,887.00 $11,146,870.94
*Estimated