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HomeMy WebLinkAboutAbatement schedule updated for FY 14-15April 22, 2013 8/11/2014 9:24 AM Name of Entity Property Tax abatement terms Date abatement begins Date abatement ends Percentage of Abatement/Rebate Percentage to be paid by entity (to Town) Sales Tax Rebate Fidelity- Phase Two 10 years from issuance date of initial Certificate of Occupancy 11/3/2009 11/3/2019 90%10% 100% of 1 % of local for all building materials and business personal property affixed to the facilities. Approved - April 23, 2007 Real $60,723,872 $ 54,651,485 $ 6,072,387 Personal 22,401,664 20,161,498 2,240,166 Personnel = 1,000 Sq. Ft = 500,000 Total $83,125,536 $ 74,812,982 $ 8,312,554 Tax revenue based on current rate of $.15634 $ 116,963 $ 12,996 Deloitte University 10 years from issuance date of final Certificate of Occupancy Temp. CO 10/30/11 (Abatement based on Temporary CO ) Based on date of temporary CO 10/30/21 65%35% 100% of 1% of local for all building materials and business personal property affixed to the facilitiy Approved - March 24, 2008 Real $118,430,626 Final CO expected 11/12 per EE $ 76,979,907 $ 41,450,719 Direct Pay Permit- 100% of 1% of local tax for term of agreement (10 years) Personal 25,639,007 16,665,355 8,973,652 Personnel = 100 Sq. Ft = 750,000 Total $144,069,633 $ 93,645,261 $ 50,424,372 Tax revenue based on current rate of $.15634 $ 146,405 $ 78,833 TAD: Property 05306035 TAD: Personal 13682261 Property Value as of July 2014 Town of WestlakeReal and Personal Property Tax Abatement Summary