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<br />lSL~'~'~~ <br /> <br /> <br />j. :~. C. .... <br />l,__c.,,- <br /> <br />Credit for Future Payments on City Buildings <br /> <br />To avoid potential double payment for the new City Hall, the impact fee methodology <br />includes a credit for future principal payments. Sunny Isles Beach anticipates bond <br />financing the municipal complex over 25 years, at an assumed annual interest rate of 5.5%. <br />Because interest costs have not been added to the impact fees, it is not appropriate to <br />provide a credit for future interest payments. <br /> <br />Figure 22 - Principal Payment Credit for City Hall <br />Fiscal Principal Peak Jobs Not Payment <br />Year Payments Population At Hotels Per Job <br />2003 $190.802 26.500 1.880 $6.72 <br />2004 $201.296 27.000 1.987 $6.94 <br />2005 $212.367 27,400 2.093 $7.20 <br />2006 $224.047 27.800 2.200 $7.47 <br />2007 $236.370 28.300 2.307 $7.72 <br />2008 $249.370 28,700 2,413 $8.01 <br />2009 $263.086 29.100 2.520 $8.32 <br />2010 $277.555 29,400 2,627 $8.67 <br />2011 $292,821 29.700 2.733 $9.03 <br />2012 $308.926 30,000 2,840 $9.41 <br />2013 $325.917 30.300 2.947 $9.80 <br />2014 $343.842 30.600 3,053 $10.22 <br />2015 $362.754 30.900 3.160 $10.65 <br />2016 $382,705 31,442 3.267 $11.03 <br />2017 $403.754 31.805 3.373 $11.48 <br />2018 $425,960 32.169 3,480 $11.95 <br />2019 $449,388 32.532 3.587 $12.44 <br />2020 $474.104 32.895 3.693 $12.96 <br />2021 $500.180 33.258 3.800 $13.50 <br />2022 $527.690 33,621 3,907 $14.06 <br />2023 $556,713 33.985 4.013 $14.65 <br />2024 $587.332 34,348 4.120 $15.27 <br />2025 $619.636 34,711 4,227 $15.91 <br />2026 $653,715 35.074 4.333 $16.59 <br />2027 $689.670 35,437 4,440 $17.29 <br />TOTAL $9.760,000 $277.29 <br /> Discount Annual Percentage Rate 5.5% <br /> Net Present Value $133.37 <br /> <br />25 <br /> <br />Tischler & Associates. Inc. <br />