HomeMy WebLinkAbout2015-910-11/23/2015 IL
Prepared by Kelley Felchle, Deputy City Clerk, City of Waterloo,,
715 Mulberry Street, Waterloo, IA 50703, 319-291-4323 .
RESOLUTION NO. 2015-910
RESOLUTION APPROVING CERTIFICATION TO THE
BLACK HAWK COUNTY AUDITOR EXPENDITURES THAT
QUALIFY FOR REIMBURSEMENT IN THE
FY2015 NORTHEAST INDUSTRIAL AREA 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 Northeast
Industrial Area Tax Increment District, as indicated in attached
Exhibit "A" and Exhibit "B", are hereby approved.
PASSED AND ADOPTED this 23rd day of November 2015 .
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E nest G. Clark, Mayor
ATTEST:
'Relrey Fe chle
Deputy C ' ty Clerk
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CITY TIF FORM i-INDEBTEDNESS CERTIFICATION Cover Sheet €
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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
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City: Waterloo County: Black Hawk I
Urban Renewal Area Name: Waterloo Northeast Industrial Urban Renewal y
Urban Renewal Area Number: 07015 (Use five-digit Area Number Assigned by the County Auditor) u
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I hereby certify to the County Auditor that for the Urban Renewal 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
collective amount shown below, all of which qualify for repayment from the special fund referred to in paragraph 2 it
of Section 403.19 of the Code of Iowa.
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Urban Renewal Area Indebtedness Not Previously Certified": $ 2,923,882
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*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'.) it
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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,)
A City reducing certified TEF indebtedness by any reason other than application of TIF increment tax received from
the County Treasurer shall certify such reduced amounts to the County Auditor no later than December 1 of the year
of occurrence. (File'CITY TIF'FORM 3'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 $10,880 in debt reductions and revenue adjustments using Form 3 that did not carry I'
to this form. Net debt outstanding at 6/30/2015 should be$4,434,013.03.
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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 5
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TIF INDEBTEDNESS NOT PREVIOUSLY CERTIFIED ELIGIBLE FOR TAX COLLECTIONS NEXT FISCAL YEAR
City: Waterloo County: Black Hawk
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Urban Renewal Area Name: Waterloo Northeast Industrial Urban Renewal
Urban Renewal Area Number: 07015 (Use five-digit Area Number Assigned by the County Auditor)
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Individual TIF Indebtedness Type/Description/Details: Date Approved#: Total Amount:
1. Greater Cedar Valley Alliance:$12,833.33 01/12/15,06122/15 12,833 I
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[]'X'this box if a rebate agreement. List.administra#ive details on lines above.
2. Veteran Enterprises,Ltd Tax Rebate Estimate Adjustment:$4,522. 07/06/2009 4,522
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FIX this box if a rebate agreement. List administrative details on lines above.
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3. Administrative Expenses:$3,089.46 06/29/2015 3,089 5151
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E]X'this box if a rebate agreement. List administrative details on lines above.
4. JDE Engineering Preliminary and Final Platting Services 11/2/2015 6,450
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n Xthis box if a rebate agreement. List administrative details on lines above. j
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5. JDE Engineering Roadway Construction Design 11/212015 00
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nW 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 2.
Total For City TEF Form 1.1 Page 1: 107,294
*"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
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TIF INDEBTEDNESS NOT PREVIOUSLY CERTIFIED ELIGIBLE FOR TAX COLLECTIONS NEXT FISCAL YEAR
City: Waterloo County: Black Hawk
Urban Renewal Area Name: Waterloo Northeast Industrial Urban Renewal
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Urban Renewal Area Number: 07015 (Use five-digit Area Number Assigned by the County Auditor)
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Individual TIF Indebtedness Type/Description/Details: Date Approved': Total Amount:
6. GMJ2 Industries, LLC-Development Agreement 5/26/2015 82,070
Tax Rebates-5 years at 50%
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E]W this box if a rebate agreement. List administrative details on lines above.
7. NE Road,Sanitary Sewer and Water Main Contract:$1,211,318. 1112312015 1,211,318
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Q'X'this.box if a rebate agreement. List administrative details on lines above,
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8. Willard Frost Land Acquisition Contract' $1,523,200, 11/23/2015 1,523,200
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E]W this box if a rebate agreement. List administrative details on lines above.
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RW this box if a rebate agreement. List administrative details on lines above.
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RW 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.
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Tota[For City TIF Form 1.1 Page 2: 2,816,588
""Date Approved"is the date that the local governing body initially approved the TIF indebtedness.
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CITY TIF FORM 3
TIF INDEBTEDNESS HAS BEEN REDUCED BY REASON OTHER THAN APPLICATION OF
TIF INCREMENT TAX RECEIVED FROM THE COUNTY TREASURER
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CERTIFICATION TO COUNTY AUDITOR
Use One Certification Per Urban Renewal Area
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City: Waterloo County: Black Hawk
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Urban Renewal Area Name: -Waterloo Northeast Industrial Urban Renewal
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Urban Renewal Area Number: 07015 (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,
and the County has segregated the rebate property into separate TIF Increment taxing districts, provide the five-digit
county increment taxing district numbers for reference.
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Amount
Individual TIF Indebtedness Type/Description/Details:
Reduced:
Ferguson Enterprises, Inc.tax rebate estimate adjustment:decrease of$6,773.84 6,774
Twin City Tannery tax rebate estimate adjustment:decrease of$4,106 4,106
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Total Reduction In Indebtedness For This Urban Renewal Area: 10,880
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Dated this 26th day of November 2015
319.291.4323
Signature of Authorized Official Telephone
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EXHIBIT"A"
Cumulative as of June 30,2015 s
Project Designation:
Northeast Industrial Area Tax Increment Redevelopment Area 1
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement Under Section 403.19(2)
No. Source Description of Indebtedness Cumulative Amount I
AMOUNT INCURRED
Land Acquisition 8/95 Principal $245,447.90 Land Contract $245,447.9
Land Acquisition Principal $362,178.20 Land Contract $607,626.1
Sanitary Sewer FY 97-98 Principal $215,725.99 Advance $823,352.09
Dirt Credit 1997 Principal $347,400.00 Agreement $1,170,752.0
2000-$126,796.00 `_•
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2001-$63,203.00 a
2002-$110,908.00
2003-$46,492.50 t
Engineering FY 97-00 Principal $105,796.41 G.O.Bonds $1,276,548.50
Recording fees FY 97-00 Principal $3,048.75 G.O.Boads $1,279,597.25
Northeast Drive FY 1997 Principal $97,276.80 G.O.Bonds $1,376,874.05
T.G.Drive FY 1998 Principal $125,410.59 G.O.Bonds $1,502,284.64
R&N Investments 11 Rebate Principal TIF Tax Rebate $1,502,284.64 @
50% 2003 $0 $1,502,284.64
50% 2004 $1,502,284.64
(cancelled) 50% 20005 $1,502,284.64
50% 2006
$1,502,284.64
50% 2607 $1,502,284.64 x
Interstate Brands Rebate Principal TIF Tax Rebate $1,502,284.64
75% 2003 $21,999.00, $1,524,283.64
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60%2004 $18,402.00 $1,542,685,64 i
45%2005 $16,027.56 $1,558,713.20
30%2001 a $0.00 $1,558,71329
15% 2007 $0.00 $1,558,713.20
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15% 2014 $15,631.00 $1,574,344.20
Financing FY 1997-2000 Interest $417,660.53 G.Q.Bonds $1,992,004.73
Plat Engineering Fund 411 Principal $5,000.00 $1,997,004.73
2001 G.O.Bonds a
Interest $3,450.00 $2,000,454.73
GT Drive II $2,000,454.73
Fund 411-Construction Principal $182,868.00 $2,183,322.73
Interest $71,963.68 2001 G.O.Bonds $2,255,286.41
Fund412-Construction Principal $48,630.00 $2,303,916.41 s
2002 G.O.Bonds
Interest $21,873.14 $2,325,789.55
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Fund 412-RISE Application Principal $4,500,00
2002 G.O.Bonds $2,330,289.551
Interest $3,139.00 $2,333,428.55
IDA FY 2003 ISlterest $8,482.82 Contract $2,341,911.37 I
WIDA PY2004 Interest $10,820.89 Contract $2,352,732.26
WIDA FY2005 Interest $4,276.29 Contract $2,357,008.55 1
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Cedar Valley FY2004 Principal $13,200.00 Contract $2,370,208.55
Cedar Valley FY2005 Principal $17,500.00 Contract $2,387,708.55 a
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edar Valley FY2006 Principal $17,500.00 Contract $2,405,208.55
Cedar Valley FY2007d Principal $17,500.00 Contract $2,422,708.55 3
Cedar Valley FY2008. Principal $32,000.00 Contract $2,454,708.55 i
Cedar Valley FY2009 Principal $33,168.00 Contract $2,487,876.55 s
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Cedar Valley FY2010 Principal $32,000.00 Contract $2,519,876,55
Cedar Valley FY2011 Principal $9,500.00 Contract $2,529,376.55 a
edar Valley FY2012 Principal $16,166.00 Contract $2,545,542.55 3
Cedar Valley FY2013 Principal $24,000.00 Contract $2,569,542.55
Cedar Valley FY2014 Principal $16,166.67 Contract $2,585,709.2
Cedar Valley FY2015 Principal $12,833.33 Contract $2,598,542.55
ray Transportation Rebates Principal TIP Tax Rebate $2,598,542.55
50%2005 F $31,493.93 $2,630,036.48
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EXHIBIT"A"
Cumulative as of June 30,2915,
Project Designation: t
Northeast Industrial Area Tax Increment Redevelopment Area
Schedule 1
Indebtedness Qual.fying for Tax Increment Reimbursement Under Section 403.1-90
50%2006 $32,391.28 $2,662,427.76 x
50%2007 $26,788.28 _ $2,689,216.04
50%2008 $27,139.08 $2,716,355.12
50%2009 $28,976.01
$2,745,331.13
Ferguson Enterprises Fund 414, Principal $3,500,000.00 2004 G.O.Bands $6,245,331.13
Interest $1,708,885.00 $7,954,216.13
Ferguson Enterprises Rebates Principal TIF Tax Rebate $7,954,216.13 i
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FY2007 $392,733.25 $8,346,949.38
PY2008 $435,187.68 $8,782,137.06
FY2009 $467,334.00 $9,249,471.06
FY2010 $461,864.00 $9,711,335.06
FY2011 $462,500.00 $10,173,835.06
FY2012 r $458,210.00 $10,632,045.0A
FY2013 $374,184.00 $11,006,229.0 G
FY2014 $349,570.00 $11,355,799.06
FY2015 $328,042.00 $11,683,841.06
FY2016* $293,019.68 $11,976,860.74
Etritt er Land Contract Principal $350,000.00 Land Contract $12,326,860.74
FY2007 Interest $3,161.67 $12,330,022.41
FY2008 InterestI $2,499.56 $12,332,521.97
OTT Properties Principal TIF Tax Rebate
p p $12,332,521.97 c'
50%FY2009 $52,758.13 $12,385,280.10 I
50%FY2010 $54,310.00 $12,439,590.10
50%FY2011 $54,384.00 $12,493,974.10
50%FY2012 $53,880.00 $12,547,854.10
50%FY2013 $37,352.00 $12,585,206.10 k
Veteran Enterprises,Ltd. Principal TIF Tax Rebate
$12,585,206.10
50%FY2013 $13,635.00 $12,598,841.10
50%FY2014 $39,115.00 $12,637,956.10 t
50%FY2015 $12,108.00 $12,650,064.10
50%FY2016* $35,552.00 $12,685,616.10
50%FY2017* $23,266.001 $12,708,882.10
Twin City Tannery Principal TIF Tax Rebate $12,70802.10 x
50%FY2014 $36,866.00 $12,745,748.10
50%FY2015 $13,276.00 $12,759,024.10
50%FY2016* 310,338.00 $12,769,362.10 w
GMJ2 Industries,LLC $12,769,362.10
50%FY2019* $15,836.00 $12,785,198.10
50%FY2020* $15,836.00 $12,801,034.10
50%FY2021* $15,836.00 $12,816,870.10 x
50%FY2022* $15,836.00 $12,832,706.10
50%FY2023* $15,836.00 $12,848,542.10
1999 GO Bonds Refinanced-Deduct Principal ($208,84.7.00) 1999 G.O.Bonds $12,639,695.10
UdDebtService Interest ($75,344.00) $12,564,351.10 j
2007 GO Bonds-1999 GO Bands Principal $210,281.00 2007 G.O.Bonds $12,774,632.10 !
Refinanced-Add New Debt Svc Interest $58,851.00 $12,833,483.10
2007 GO Bonds Refinanced-Deduct, Principal $101,663.002007 G.O.Bonds $12,731,815.10
Old Debt Service Interest ($12,064.00) $12,719,751.10
2014 GO Bonds-2007 GO Rands Principal $101,668.00 2014 G.O.Bonds
P $12,821,419.10
Refinanced-Add New Debt Svc Interest $8,997.00 $12,830,416.10
Lund 414 Taxable Reallocate Bonds Principal ($69,651,07)1 2004 G.O.Bonds $12,760,765.03 t
for NE Site Projects-2008 Interest ($34,007.24) $12,726,757.79
2001 GO Bonds Refinanced-Deduct Interest ($15,180.06) 2001 G.O.Bonds $12,711,577.73
2009 GO Bonds-2001 GO Bonds Interest $9,564.06 2009 G.O.Bonds $12,721,141.79
Veterans Ent Grant Principal $207,093.00 Advance $12,928,234.79
2002 GO Bonds Refinanced-Deduct Principal {$3s,lHlUAl1} 1999 G.O.Bonds $12,893,234.79
Old Debt Service Interest ($6,250.0(1) $12,886,984.79
2010 GO Bonds-2002 GO Bonds Principal $35,266.02 2007 G.O.Bonds $12,922,250.81
Refinanced-Add New Debt Svc Interest $3,241.25 $12,925,492.06
2004 GO Bonds Refinanced(Fund Principal ($3,175,000.00) 1999 G.O.Bonds $10,750,492.06
1�414',Deduct Old Debt Service Interest (5600,422.50) $10,150,069.56
2011 GO Bonds-2004 GO Bonds Principal $2,175,000.00 2011 G.O.Bonds $12,325,069.56
Refinanced Interest $278,885.44 $12,603,955.00
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EXHIBIT"A"
Cumulative as of June 30,2015
Project Designation: ;.
Northeast Industrial Area Tax Increment Redevelopment Area
Schedule
Indebtedness Qual fying for Tax Increment Reimbursement Under Section 403.19(2)
R&B Enterprises Principal $7,000.00 Advance $12,610,955.00
McCloud Legal Expenses Principal $258.75 Advance $12,611,213.75
FY15 Administrative Expenses Principal $3,089.46 Advance $12,614,303.21
2013 GO Bonds-Taxable Principal $220,000.00 2.013 G.O.Bonds $12,834,303.21
Interest $30,028.19 $12,864,331.40
2013 GO Bonds-Non Taxable
Principal $50,000.00 2013 G.O.Bonds $12,914,331.40
Interest $5,775.09 $12,920,106.49
2014 GO Bonds-Taxable Principal $315,000.00 2014 G.Q.Bonds $13,235106.49
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Interest $46,697.50 $13,281,803.99
JDE Engineering Platting Services Principal $6,450.00 Contract $13,288,253.99 r
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JDE Engineering Roadway Principal $80,400.00 $13,368,653.99
Construction.Design, Contract
Road,Sewer,Water Main ' Principal $1,211,318.00 $14,579,971.99
Construction Contract Contract
Willard Frost Land Acquisition Principal $1,523,200.00 Contract $16,103,171.99 K
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EXHIBIT"B"
I_ Cumlative as of Pune 30,2015
Project Designation: Northeast Industrial Area Tax Increment Redevelopment
Schedule 2
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
No. Year Received Amount Received Other Revenue Cumulative Amount
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from Payments Received
under Sec.
402.12(2)
FY 1996 $0.00 $0.00
FY 1997 $0.00 $0.00
FY 1998 $0.00 $0.00
1 FY 1999 $201,360.86 $201,360.86
2 FY 2000 $110,300.50 $311,661.36
3 FY 2001 $194,966.55 $506,627.91
4 FY 2002 $321,469.26 $828,097.17 fi
b 5 h FY 2003 $381,390.68 $1,209,487.85
6 FY 2004 $458,310.16 $1,667,798.01 z
7 FY2005 $651,752.82 $2,319,550.83
8 FY2006 $464,313.36 $2,783,864.19
9 FY2007 $1,446,002.26 $109,650.08 $4,339,516.53
10 FY2008 $1,063,218.88 $26,036.60 $5,428,772.01
11 FY2009 $891,841.05 $4,972.61 $6,325,585.6
12 FY2010 $862,108.93 $1,153.42 $7,188,848.02
13 FY2011 $665,367.52 $1,239.16 $7,855,454.70
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14 f FY2012 $594,439.87 $89.63 $8,449,984.20
15 FY2013 $869,000.64 $0.00 $9,318,984.84
16. FY20141 $874,260.30 $0.00 $10,193,245.14
17 FY2015 $1;475,913.82 $0.00 $11,669,158.96 i
18 FY2016* $1,394,680.00 $13,063,838.96
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19 FY2017* $1,418,634.00 $14,482,472.96
*ESTIMATE
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