Fiscal Impacts definition
Examples of Fiscal Impacts in a sentence
In addition to estimating the future fiscal costs and revenues for the Project, the Fiscal Impacts Analysis outlines the following guiding principles upon which future iterations of the Fiscal Impacts Analysis will be based: • Project financing will not rely on the City’s General Fund and will be structured to prevent a negative impact to the General Fund.
The Fiscal Impacts Analysis also provides a basis for structuring financial mechanisms to mitigate potential General Fund impacts, and to assure a stable, ongoing source of funding to sustain the quality of life on the Islands.
The Fiscal Impacts Analysis includes the following findings: • At Project buildout, fiscal revenues should cover the annual ongoing operating costs for providing the public services and benefits described in this Development Plan.
The Fiscal Impacts Analysis also analyzes the future fiscal revenues that will be generated from the Project, such as property tax, property tax in lieu of vehicle license fee, sales tax, motor license fee, property transfer tax, transient occupancy tax, utility tax, business license/payroll tax, franchise fees, and highway users tax.
Summary tables from an updated fiscal impacts analysis, from which these numbers are drawn, are included in Appendix A to the Financing Plan and are described in even greater detail in the Fiscal Impacts Analysis.
The Fiscal Impacts Analysis provides a basis for evaluating the potential level, timing and costs of General Fund services necessary to support the future neighborhood compared to future General Fund revenues.
As shown in the Fiscal Impacts Analysis attached to this Development Plan as Exhibit S, at build out of the Project, annual fiscal revenues accruing to the City are expected to be greater than the ongoing operating costs of providing services.
The Fiscal Impacts Analysis also includes a cash flow that shows the overall municipal revenues and service costs associated with the Project to provide a complete picture of the Project’s economics.
The Fiscal Impacts Analysis analyzes the future fiscal costs of providing the services and benefits to the Project that are described in this Development Plan, such as police services, fire protection services, parks and open space maintenance, public works, public health, community services and the Authority's administration and oversight.
A key step in formulating the financing and transaction structure for the Project was the preparation of the Fiscal Impacts Analysis, a copy of which is attached as Exhibit S.