Severance Business Park Application

8/20/2019 Severance Business Park Application

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Severance Business Park

Application Attachment A

Owners

7N, LLC

370 17th St.

Suite 5300

Denver, CO [email protected]

(720) 557-8300

Consultants

Planner / Landscape Architect

Norris Design

1101 Bannock St.

Denver, CO 80204

[email protected]

(303) 892-1166

Traffic Engineer

Delich Associates2272 Glen Haven Dr.

Loveland, CO 80538

[email protected]

(970) 669-2061

Economic ConsultantTHK Associates

2953 S. Peoria St.

Suite 101

Aurora, CO 80014

pelzi@thkassoc com

Engineer

TST Inc. Consulting Engineers

760 Whalers Way

Building C, Suite 200

Fort Collins, CO 80525

[email protected]

(970) 226-0557

Attorney

White Bear Ankele Tanaka & Waldron2154E. Commons Ave.

Suite 2000

Centennial, CO 80122

[email protected]

(303) 858-1800

mailto:[email protected]:[email protected]:[email protected]:[email protected]


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1101 Bannock StreetDenver, Colorado 80204303.892.1166

Severance Business ParkAnnexation Impact Report

September 14, 2015

Plan DescriptionThe Severance Business Park is a +/- 547 acre property proposed for annexation to the Town of Severance, and is comprisedof a variety of land uses including but not limited to commercial, industrial, residential, and open space. The SeveranceBusiness Park is located northeast of downtown Severance between Weld County Road (WCR) 74 and 76. It is east of WCR23 and west of WCR 27.

Within the Severance Business Park, industrial land uses will be generally located in the center of the property and areplanned to be buffered by commercial, office, and residential uses. Various forms of buffering, including landscaping andberming, will also be used to screen industrial uses. The edge character of the property will generally consist of a mixture oflower intensity uses, including but not limited to office and commercial development. Residential development is envisionedon the eastern, western, and northern borders of the property. The Great Western Trail will be accommodated through theproperty along a landscaped trail corridor, and a large central open space corridor will contain Baldridge Lake and SchneiderLake. These lakes will be maintained as potential water sources for commercial / industrial uses in the Park. The SeveranceBusiness Park will have a distinctive landscape and monumentation character deployed throughout the property, at primary

entries and at key open space areas throughout the property.

A primary collector road is planned to bisect the property, connecting WCR 23 to WCR 74. An additional collector road isplanned to connect the primary collector road north to WCR 76. This primary roadway infrastructure is complimented by aseries of local roads to provide access to interior parcels. This alignment provides internal circulation and connections to thesurrounding community, while also generally directing primary truck traffic away from downtown Severance.

Ultimately, the Severance Business Park will provide a diversity of land uses, including a spectrum of employment

opportunities. The Park will also offer opportunities for land uses with high assessed values to be included into the Town andwill provide additional ways for Town residents to live, work, and play nearby the Town core.

Economic Impact A Fiscal Impact Report has been prepared by THK and accompanies this application.

Finance Municipal Services: A variety of financing methods will be used for infrastructure at the Severance Business Park.

Existing Districts: The following are the existing districts within the proposed annexation area:

Weld County Government Weld County Sheriff Eaton RE-2 School District Weld RE-4 School District


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School District Impacts:The following illustrates the impact upon the Easton RE-2 and the Weld RE-4 School District, including the estimated

maximum number of students and the capital construction required to educate these students based upon estimated housingunits.

The two school districts use the below factors to estimate school impacts. Within the Eaton RE-2 portion of the site the impactof 302 dwelling units on schools amounts to $546,332 in cash-in-lieu fees or $1,809 per dwelling unit. Within the Weld RE-4

portion of the site the impact of 322 dwelling units on schools amounts to $721,401 in cash-in-lieu fees or $2,240 per dwellingunit.


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-3-

EATON RE-2 SCHOOL DISTRICT

Table 1. Land Use Implications Statement -- School District Site and Facility Effects: Single Family DetachedA. Student Generation Estimates

Housing Unit Typeof Area Number of Dwelling

Units

Elementary (K - 5) Middle (6 - 8) Senior High (9 - 12)Total

StudentsSingle Family Det.

StudentGeneration Rate

Number ofStudents

Student GenerationRate

Number ofStudents


Number ofStudents

302 0.360 109 0.180 55 0.230 70 234

0.360 - 0.180 - 0.230 - -

Total 302 109 55 70 234

B. Facilities Requirements

School TypeStudents (From

Part A)Facility Capacity

Site SizeStandards Proportionate FacilityCapacity AcreageRequired Cash Value Per Acre*

Cash-in-Lieu ofLand Cash-in-Lieu

(in acres)Required by the

Project by the Project Equivalent Per Unit

Elementary 109 450 10.00 24.2% 2.42 69,329 $167,499 $555

Middle 55 700 25.00 7.9% 1.96 69,329 $136,182 $451

Senior High 70 900 45.00 7.8% 3.50 69,329 $242,652 $803

Total 234 7.88 $546,332 $1,809

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-4-

WELD RE-4 SCHOOL DISTRICT

Table 2. Land Use Implications Statement -- School District Site and Facility Effects: Single-FamilyA. Student Generation Estimates

Housing Unit Type of Area Number of Dwelling

Units

Elementary (K - 5) Middle (6 - 8) Senior High (9 - 12)Total

StudentsSingle Family


Number ofStudents

Student GenerationRate

Number ofStudents


Number ofStudents

322 0.386 124 0.195 63 0.220 71 258

0.386 - 0.195 - 0.220 - -

Total 322 124 63 71258B. Facilities

Requirements

School TypeStudents (From

Part A)Facility Capacity

Site SizeStandards

Proportionate FacilityCapacity

AcreageRequired Cash Value Per

Acre*

Cash-in-Lieu ofLand

Cash-in-Lieu

(in acres)Required by the

Project by the Project Equivalent Per Unit

Elementary 124 600 10.00 20.7% 2.07 106,600 $220,825 $686

Middle 63 900 25.00 7.0% 1.74 106,600 $185,928 $577

Senior High 71 1200 50.00 5.9% 2.95 106,600 $314,648 $977

Total 258 85.00 6.77 $721,401 $2,240


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Utilities:Only the northwest portion of the project currently lies within Severance Water Service Area. Under the Concept Planthe remaining property is proposed to be annexed into the Town service area. There are existing water lines in CR 74and CR23 and on-site. The water system is supplied by the Town’s ground tank located northeast of Windsor Reservoirand is capable of 2100 gpm maximum. The adequacy of water supply for fire protection will be verified during projectengineering.

The majority of the project lies within the existing Severance sewer service area. The natural grade of the land drainssoutheasterly, and future sewer systems will likely drain similarly from north to south and under County Road 74. Anew gravity main is planned through the area west of Franklin Lake and south of the Park although it may not beavailable for the 1st phase of development. Under the concept plan sewer will be extended with each phase of thePark construction until eventually crossing the northern limit of the Park at County Road 76. For the initial phase, aseptic system may be considered for a limited number of employees.

The Windsor-Severance Fire Rescue service will provide fire service to the site. The Weld County Sheriff provides afull-time deputy dedicated to Severance with an additional ½ time deputy. Weld County Ambulance will provideemergency medical transportation.

Private UtilitiesOther utility services will be provided by Xcel Energy and/or other utility providers.

Road Network A primary collector road is planned to bisect the property, connecting WCR 23 to WCR 74. An additional collector roadis planned to connect the primary collector road north to WCR 76. This primary roadway infrastructure is complimentedby a series of local roads to provide access to interior parcels. This alignment provides internal circulation andconnections to the surrounding community, while also generally directing primary truck traffic away from downtownSeverance.

Other roadways will be added in the future, as planning areas develop and their access requirements are more fullyknown.

A Traffic Impact Study will be provided prior to public hearings on this application.

Compatibility with Comprehensive Plan

Introduction


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Response: The Severance Business Park will reinforce the role of downtown Severance by bringing employment andservices adjacent to the core of the community. Residential development is proposed in the eastern, western, andnorthern portions of the Park, consistent with the vision of the Comprehensive Plan. Agricultural uses are anticipatedto remain on the site in varying capacities.

Vision Statement: CulturalSeverance will remain a family-oriented town that encourages interaction between neighbors, businesses and civicservices. Frequent community events, corroboratively sponsored and organized, will promote Severance as a greatplace to live, do business or visit.

Response: The proposed land use plan orients pedestrian- and community-focused activities to the edges of theproperty to promote compatibility with existing land uses. This structure reinforces the role of the Town’s existing landuse patterns.

Vision Statement: EconomicSeverance will be an economically sustainable community by growth and development according to our physical andcultural visions. Severance: Hometown Vision fosters business growth by encouraging policies and practices thatsupport diverse uses and flexibility. Reasonable infrastructure requirements and fees, combined with straightforward,streamlined processes are essential for strong economic development. The resulting economic development also willbe strengthened and complimented by supporting and encouraging residential developments that portray Severanceas a unique community in the region.

Response: The Severance Business Park is designed for flexibility for future tenants, while still providing certainty forneighbors and the Town in general. With flexibility proposed generally in the center of the site and predictability moredefined on the edges, this proposed Park is consistent with the Town’s economic vision and is able to benefit thecommunity as a whole while still meeting the land use needs of its future tenants. Additionally, as a part of the ConceptPlan, the applicant has prepared a fiscal impact analysis showing that the Severance Business Park is able to coverthe costs associated with its development, while also providing substantial economic benefits to the broadercommunity.

GUIDING PRINCIPLES

Property Owner / Developer A. Land use changes should be initiated by the property owner.

Response: The applicant is the land owner and has initiated the proposed annexation and rezoning.


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Commercial / Mixed Use classification, is generally consistent with the residential vision set forth in the Town’sComprehensive Plan.

C. Proposed land use changes should include creative and unique plans that strive to support the vision of Severance:Hometown Vision.

Response: The plan for the Severance Business Park reinforces the preeminence of the Town core but providesadditional opportunities for employment, housing, and recreation. The proposed plan mitigates negative impacts ontraffic in the Town core while also creating new and improved pedestrian and bicycle accessibility. The substantial taxbase increase resulting from the development of the Severance Business Park will help ensure stability for public, civicinstitutions throughout the community.

D. Proposed land use changes must address community values, services, and infrastructure.

Response: The Metropolitan Districts within the Severance Business Park will be responsible for building andmaintaining common area infrastructure and may also contribute to various on-site improvements that mitigate thevisibility of industrial uses. Buffering of industrial sites through elements such as berming, landscaping, and screeningwill be supported by the Metropolitan Districts and help to lessen visual impacts from off-site.

E. Proposed land use changes that vary the Future Land Use Map may require amendments to the Severance: VisionHometown Plan. Changes can be initiated by the property owner if proposed amendments are consistent with theGuiding Principles and Community Design Values.

Response: The applicant is proposing to amend the Comprehensive Plan to locate a Development Node on theproperty, located northeast of downtown Severance. As described herein, this proposal is consistent with the Town’svision. The Community Design Values applicable to development nodes have also been adopted in this proposedapplication.

F. It is the property owner’s responsibility to become an integral part of the process and to establish long -termrelationships with the Town officials.

Response: The applicant has been coordinating with the Town prior to submitting this proposal in order to ensure thatthe applicant’s and the Town’s objectives can both be met. Overall, a 20+ year build-out is anticipated for the SeveranceBusiness Park, which will keep the applicant in communication and partnership with the Town for the long-term.

Public Participation A. Public participation is welcomed and encouraged.


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B. Public participation is intended to be constructive and to aid proposed land use changes to better align with theprinciples, policies and procedures of Severance: Hometown Vision.

Response: Community feedback will be considered and integrated into the design for the Severance Business Park,where applicable and feasible.

Community Design Values (Development Node)Design elements define a community and the fulfillment of Severance: Hometown Vision is achievable by emphasizingcertain community design values while leaving other design decisions up to the property owners. Supporting andmaintaining good design also requires sound management. Therefore, developments must include interim and ultimateproperty management plans with all development proposals. Community Design Values will apply to communityentryways, major roadways, subdivision perimeters, subdivision entryways, internal fencing, connectivity throughways,internal roadway design, residential lot layout, setbacks, and commercial architecture. These limited CommunityDesign Values are described in the accompanying Land Use Codes.

Response: The Concept Plan document details the standards for landscaping, entryway monumentation, bufferingcharacter, fencing, and other improvements which will create a unique character for the property that is consistent withthe Town’s character. Additional standards are detailed in the PD Overlay, including setbacks and roadway cross-sections.

Plazas and outdoor gathering spaces are encouraged.

Response: The Great Western Trail will provide connectivity throughout the property and to adjacent land uses, aswell as to the Town core. This critical pedestrian artery will help facilitate formal and informal interaction within thegreater community. A large central open space incorporating Baldridge Lake and Schneider Lake may provideopportunities for passive and active recreation. Additional, plazas and gathering spaces may be incorporated into theindividual tenant sites at the time of Site Plan for those parcels.

Creative and appropriately scaled building signage is encouraged.

Response: Signage at the Severance Business Park will be generally consistent with the monumentation standards

established in the Concept Plan and will be compatible with the Town’s design standards.

Varied setbacks to buildings are encouraged to create interest along the streetscape. Gathering spaces, outdoor dining,patios, etc., are encouraged. Buildings on the south side of the road are encouraged to be set back from the right-of-way to reduce shading on the public sidewalk and street.


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Response: The overall landscape character for the Severance Business Park is established in this Concept Plandocument. Future commercial and retail developments will follow the landscape standards established here, includingthe landscape plant list included in this Concept Plan. All walks will be designed with a minimum 4’ clear zone on allpublic sidewalks, where appropriate.

Street trees and dissection of large parking lots with landscape are encouraged.

Response: The Concept Plan requires the appropriate level of street tree plantings and landscaping to break up areasof parking.

Condensed and creative pedestrian-scale signage is encouraged within projects.

Response: Pedestrian wayfinding signage will be similar in character to the Park monumentation in order to create acohesive brand for the Park.

Pedestrian walks and spaces shall be provided as necessary to ensure that projects are easily navigated and enjoyablefor the pedestrian.

Response: Sidewalks will be provided along public streets, as appropriate, based on adjacent land uses. Additionally,the Great Western Trail will provide excellent pedestrian accessibility through the site and towards downtownSeverance. Other secondary trails will be built as appropriate to connect to the Great Western Trail and to createpedestrian connections throughout the Park.

Where property abuts a state highway or arterial street, large landscape buffers are encouraged. Delivery areas andtrash enclosures shall also be screened from the public right-of-way.

Response: This Concept Plan document proposes edge landscaping and buffering standards, as well as screeningfor trash enclosures.

In areas where the right-of-way is narrow, on-street parking, a variety of building setbacks and building edgesarticulated toward the street are encouraged.

Response: Due to the land use types associated with this Park, narrow road rights-of-way are not proposed.

Orient big box retailers away from the right-of-way with frontage buildings to screen parking.

Response: Any future big box retailers within the Park will abide by this standard, as appropriate.

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Fiscal and Economic Sustainability Build-out projections will be completed prior to or shortly after Comprehensive Plan Public Hearings and once the LandUse Code and Comprehensive Future Land Use Map have been finalized. It is expected that the present and projectedbudget summary could be reviewed and modified each year. It should be revised at a minimum of each 5 years, at thetime the Comprehensive Plan is revised.

The summary is intended to compare anticipated revenue against project build-out within the growth managementboundary. The purpose of including the present and projected summary is so the Severance community can balanceland use and other decisions with the impacts (positive and otherwise) on this projected model. The model is simplifiedin order to make understandable and reasonable public decisions.

Response: The applicant has prepared a fiscal impact analysis to demonstrate the costs and benefits associated withthe Severance Business Park. Due to the land uses associated with the Park, a positive fiscal impact results from

development of this property in the Town.

Land UseCurrent land use activity in Severance reflects Weld County’s strong agricultural heritage. This very factor stronglycontributes to the Town’s rural, small town atmosphere. Severance: Hometown Vision would support continuedagricultural uses of land within the Town’s Growth Management Area, should there be a desire of landowners to do so.Changing land use from agricultural use to other more intensive uses is expected under the new plan. The Future LandUse map depicts a pattern of development that supports the continuation of rural character developments outside theareas that are practically served by centralized sewer treatment infrastructure. More intensive sub-urban developmentwill become the transition between this rural development pattern and the town core.

Response: The Park will be served by centralized sewer treatment infrastructure. The plan for the Severance BusinessPark includes residential development at a scale generally consistent with the Sub-urban Residential zone on theeastern, western, and northern edges of the property. Throughout the property, commercial, office, open space, andresidential uses have been situated in such a way as to transition to industrial uses in order to preserve the Town’srural character along the edges of the site and throughout the Park along public rights-of-way. Additionally, the ConceptPlan permits agricultural activities within all zones on-site, foreseeing continued, interim and future demand for

agricultural uses.

Capital Improvements and Infrastructure Water System

The Town of Severance owns, maintains and operates a separate and independent potable water storage and

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The development nodes currently are located outside of the Severance Water Service Area and new development willbe serviced by the North Weld County Water District.

Response: Only the northwest portion of the project currently lies within Severance Water Service Area. Under theConcept Plan the remaining property is proposed to be annexed into the Town service area. There are existing waterlines in CR 74 and CR23 and on-site. The water system is supplied by the Town’s ground tank located northeast ofWindsor Reservoir and is capable of 2100 gpm maximum. The adequacy of water supply for fire protection will beverified during project engineering.

Sanitary Sewer

Development NodesDepending on the location, some development nodes can be served by the Severance Sanitation Service Area. Otherlocations will be serviced by other sanitation districts.

Response: The majority of the project lies within the existing Severance service area. The natural grade of the landdrains southeasterly, and future sewer systems will likely drain similarly from north to south and under County Road74. A new gravity main is planned through the area west of Franklin Lake and south of the Park although it may notbe available for the 1st phase of development. Under the concept plan sewer will be extended with each phase of thePark construction until eventually crossing the northern limit of the Park at County Road 76. For the initial phase, aseptic system may be considered for a limited number of employees.

Storm Drainage

Drainage in the Severance Growth Management Area is generally from north to south and the area is divided by anetwork of canals, ditches, reservoirs, and creek beds. Storm drainage in Severance is handled on a site-by-site orproject-by-project basis. Current drainage requirements for new development in Severance follow BMP (BestManagement Practices) and established storm management practices.

Response: The project is located in the John Law Ditch master drainage basin. Based on the Town of Winsdor’smaster drainage study, stormwater runoff should be detained and released at the 10 year historic flowrate. While the

Town of Severance generally requires detention to the 5 year historic rate, the 10 year design storm will be used sincethis area is in a master planned basin that allows for that rate. Conceptually the existing lakes will be used for waterquality and detention with some improvements not yet known. The existing lakes may also be used for commercial andindustrial uses.

Storm water will be managed throughout the site and on individual development parcels through a variety of techniques,

1101 Bannock Street


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Response: Other utility services will be provided by Xcel Energy and/or other utility providers.

TransportationDevelopment NodesGiven the uncertainty of land uses, densities, intensities and other development issues that may be associated withthese areas, specific criteria for roadways and pedestrian networks will be tailored to the development proposals foreach property.

Response: A traffic study will be completed prior to public hearings on the Concept Plan application to determine theappropriate scale for roadway improvements on and off site associated with the development. Future Site Plan andFinal Plat applications for areas within the Severance Business Park will trigger additional traffic studies to ensure thattransportation infrastructure is appropriately sized and located.

Parks, Recreation, and Open Space

Development NodesGiven the uncertainty of land uses, densities, intensities and other development issues that may be associated withthese areas. Specific criteria for parks, recreation and open space can be tailored to the development proposals foreach property.

Response: Approximately 145 acres of the Severance Business Park will be open space, including the Great WesternTrail corridor. This amounts to approximately 26.5% of the property.

Community Services

Emergency Services• Windsor -Severance Fire Rescue• Station #2 in Severance, staffed 24/7 • Weld County Sheriff • Full-time deputy dedicate to Severance, additional deputy rotates 20 hours/week• Weld County Ambulance provides emergency medical transportation

Private Utilities

• Poudre Valley Rural Electric Association and Excel Energy each provide electricity • Xcel Energy is also the sole provider of natural gas• Century Link provides telephone and broadband internet • US Cable provides cable television and internet

Schools and Education

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- Future High School site

Response: Through the annexation process, the applicant will communicate with the relevant community services toensure service capability and to incorporate referral agency comments into the plan. Additional comments generatedby referral agencies in the review process will also be incorporated into the plan where applicable.

Community Background The idyllic Town of Severance is located in what some consider the best place in Northern Colorado. Its northern WeldCounty location has Severance right in the middle of the larger cities of Fort Collins, Greeley and Loveland which offersits residents just the right amount of city closeness and small town quiet. Sited in some of the richest farmland inColorado, this agriculturally rooted community boasts an ever growing population of 3,165 friendly residents and servesas a prime location for great housing opportunities and a safe place to raise a family.Severance was historically an agricultural community until the 1990s, when modest growth in residential propertieswas experienced. In the 2000s, residential growth in Severance exponentially increased. Severance has grown

commercially and has had an increase in oil and gas exploration and mining. While economic conditions have slowedthe growth in Severance in recent years, the town still expects to have modest growth in the coming years.

Response: The proposal for the Severance Business Park is consistent with the Town’s growth trajectory,incorporating a moderate amount of residential use and providing an employment base tied to the surroundinglandscape. Existing oil and gas wells located on the property will continue to operate, and the proposed natural gasprocessing plant is a natural extension of the oil and gas exploration that has occurred in the Town. Based on the fiscalimpact analysis conducted as a part of this application, the Severance Business Park will have a strong positive effecton the Town’s economy.

Maps

Response: The Town’s future land use map and zoning map will be updated to be consistent with the ComprehensivePlan as a result of the annexation of the proposed Severance Business Park and its proposed rezoning to aDevelopment Node.

Existing and Adjacent Land UsesThere are a few existing single family residences and farm houses on and around the site. To the southwest is theBaldridge residential community. The site and the area have been farmed over the years, and there are irrigationcanals that cross the property. There are several reservoirs on the property, including Baldridge and Schneider Lakes,and Roulard Lake. There are a number of existing oil and gas wells on the site that will remain and continue to beoperated. Mixed Use and Residential land use categories are planned along the outer edges of the Park area, buffering


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FISCAL IMPACT ANALYSIS FORTHE TOWN OF SEVERANCE

SEVERANCE BUSINESSP ARK

SEVERANCE , COLORADO

PREPARED FOR :

SEVERANCE BUSINESS P ARK , LLC.


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PREPARED BY:

FISCAL IMPACT ANALYSIS FORTHE TOWN OF SEVERANCE

SEVERANCE BUSINESS P ARK

SEVERANCE , COLORADO

PREPARED FOR :

SEVERANCE BUSINESS P ARK , LLC.

September 14, 2015

TABLE OF CONTENTS


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T ABLE OF CONTENTS

INTRODUCTION ................................................................................................... 1

I.

SITE AND AREA DESCRIPTION ......................................................................... 3 II.

FISCAL ANALYSIS ............................................................................................. 7 III.

A. SUMMARY OF THE SEVERANCE BUSINESS P ARK L AND USE ..................................................... 7 B. PROJECTED A BSORPTION SCHEDULE FOR SEVERANCE BUSINESS P ARK ..................................... 8 C. M ARKET AND A SSESSED V ALUE .....................................................................................12 D. ONE TIME FEES TO THE TOWN OF SEVERANCE ..................................................................16 E.

PROJECTED A NNUALLY R ECURRING PROPERTY T AX AND OTHER R EVENUES TO THE TOWN OFSEVERANCE .....................................................................................................................20

F.

R EVENUE PROVIDED TO THE TOWN OF SEVERANCE FROM SEVERANCE BUSINESS P ARK ................21 G. JOBS AND W AGES CREATED BY THE SEVERANCE BUSINESS P ARK ...........................................25

H. R EAL ESTATE T AX R EVENUES TO OTHER PROVIDERS ..........................................................27 I. EXPENSES TO SERVE...................................................................................................31 J. SUMMARY OF TOTAL FISCAL IMPACTS TO THE TOWN OF SEVERANCE .......................................32

APPENDIX .................................................................................................................37

COVERAGE R ATIO EXAMPLES ...............................................................................................38

INTRODUCTION


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INTRODUCTION

IntroductionI.

This assessment has been prepared to evaluate the fiscal impacts to the Town ofSeverance that would result from the development of a 64.9 acre gas plant (141,352 squarefeet); 106.9 acres of industrial land; 63.7 acres of commercial/mixed use land, and 169.6 acresof residential land with a projected 624 single family houses on the Severance Business Parksite. These acreages include areas planned for future development. THK has also estimatedreal estate tax revenues that would be realized by other service providers and taxing entitiesrelated to the property. The Severance Business Park site is approximately 547.0 acres inunincorporated Weld County near the northeast corner of the Town of Severance, north of 4 th

Avenue/ County Road 74. The property is seeking incorporation into the jurisdiction of the

Town of Severance.

By applying the appropriate tax rates and other revenues to the proposed 547.0 acresite, THK Associates, Inc. illustrates the property tax revenues, sales tax revenues, otherrevenues and one time impact fees. This analysis also examines the costs that will be incurredby the Town of Severance from the development of the community.

This fiscal impact analysis concludes with the comparison of revenues and expenses,

illustrating the annual and cumulative net impacts to the Town of Severance over the nexttwenty years.

REGIONAL LOCATION


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R EGIONAL LOCATION

Site

SITE AND AREA DESCRIPTION


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Site and Area DescriptionII.

The subject 547.0 acre property is located northeast of the intersection of 4th Avenueand 1st street in the Town of Severance. The property is located north of The Baldridge housingdevelopment and encompasses both Schneider and Baldridge Lakes. Interstate Highway 25 liesapproximately 8 miles west of the site, and is a major north/south arterial along the FrontRange that provides access to Denver, Fort Collins/Loveland and north to Wyoming. DowntownFort Collins is 12.5 miles away from the site and Greeley is 11 miles.

Northern Colorado – the area including Weld and Larimer Counties – has seenconsiderable economic growth in the last 15 years driven by the increased oil and gasproduction in the area due to advances in hydraulic fracturing (fracking). Even with the recentslowdown in oil and gas production there is substantial activity in this industry. The populationhas grown considerably – up from approximately 317,866 people in 2000 to an estimated552,455 people in 2014. In recent years residential development has also started to acceleratedue to commuter families who are attracted to the abundant recreational options in the arearanging from golf courses, recreation centers, hiking/biking trails, open space, as well assporting and entertainment venues along the front range.

Area maps, aerials and the conceptual plans are shown on the following pages.



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Site



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Site



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SEVERANCE BUSINESS P ARK 6 THK Associates, Inc.

SITE DEVELOPMENT PLAN

FISCAL IMPACT


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Fiscal Analysis III.

A. SUMMARY OF THE SEVERANCE BUSINESS P ARK L AND USE

The site developer currently has plans for 5 different land use types on the SeveranceBusiness site – the main use being the gas plant on 64.9 acres with a coverage ratio ofapproximately 5%. The total site area is approximately 547.0 acres of which a large portion – 141.9 acres (exclusive of future development areas) - will be used for roads, open space andnatural areas. The largest land use will be residential with 169.6 acres and approximately 624single family units. The largest non-residential land use will be for industrial uses on 106.9acres (exclusive of the gas plant) and potentials for 10%, 15% or 20% coverage ratio. The 63.7

acres planned for commercial/mixed use space will have a 20% coverage ratio.

Potential

Coverage Ratio/

Land Use Acres Density

Gas Plant 64.9 5%

Industrial 106.9 10%, 15% and 20%

Commercial/Mixed Use 63.7 20%

Residential 169.6 3.6 units/acre

Open Space 141.9 N/A

Total 547.0

Table 1: Land Use Plan for the Severance Business Park

Source: Norris Design and THK Associates, Inc.

FISCAL IMPACT


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B. PROJECTED ABSORPTION SCHEDULE FOR SEVERANCE BUSINESS P ARK

Table 2, 3 and 4 below are absorption schedules for the various land uses. The three

tables represent the different coverage ratio for the industrial land use. The absorption for theIndustrial, Commercial and Residential uses remain static among the 3 tables. For the GasPlant, absorption happens exclusively in years 3 and 4, based on the two phases, totalingapproximately 141,352 square feet, or 5.0% of the total acreage. The 624 residential units willbe absorbed over 15 years, by 2034, at a rate of 42 units a year. The residential absorption willhappen after the first 5 years. Commercial/Mixed Use land, which has a 20% coverage ratio,will be absorbed over the full 20 years, with the first 3 years for planning and site development – totaling 554,954 square feet by 2034. Industrial for the 3 scenarios will have a similar

schedule, with the first 3 years for planning and site development and a linear absorption rateover the remaining 17 years. Based on the different absorption rates of 10%, 15% and 20%,THK projects 465,656; 698,485, and 913,313 square feet of industrial space to be absorbedrespectively.

FISCAL IMPACT

Table 2: Absorption Schedule for the Severance Business Park Development, 10% Coverage for Industrial


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2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034

Land Use Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20 Total

Gas Plant Acres

Annual 0.00 0.00 32.45 32.45 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 64.90

Cumulative 0.00 0.00 32.45 64.90 64.90 64.90 64.90 64.90 64.90 64.90 64.90 64.90 64.90 64.90 64.90 64.90 64.90 64.90 64.90 64.90 64.90

Square Feet

Annual 0 0 70,676 70,676 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 141,352

Cumula tiv e 0 0 70 ,67 6 1 41 ,3 52 1 41 ,3 52 14 1, 35 2 14 1, 35 2 1 41 ,3 52 1 41 ,3 52 1 41 ,3 52 1 41 ,3 52 1 41 ,3 52 1 41 ,3 52 1 41 ,3 52 1 41 ,3 52 1 41 ,3 52 1 41 ,3 52 1 41, 352 1 41, 35 2 1 41, 35 2 1 41, 35 2

Industrial

Acres

Annual 0.00 0.00 0.00 6.29 6.29 6.29 6.29 6.29 6.29 6.29 6.29 6.29 6.29 6.29 6.29 6.29 6.29 6.29 6.29 6.29 106.90

Cumulative 0.00 0.00 0.00 6.29 12.58 18.86 25.15 31.44 37.73 44.02 50.31 56.59 62.88 69.17 75.46 81.75 88.04 94.32 100.61 106.90 106.90

Square Feet Annual 0 0 0 27,392 27,392 27,392 27,392 27,392 27,392 27,392 27,392 27,392 27,392 27,392 27,392 27,392 27,392 27,392 27,392 27,392 465,656

Cumula tiv e 0 0 0 27 ,3 92 54 ,7 83 8 2, 17 5 10 9, 56 6 1 36 ,9 58 1 64 ,3 49 1 91 ,7 41 2 19 ,1 32 2 46 ,5 24 2 73 ,9 16 3 01 ,3 07 3 28 ,6 99 3 56 ,0 90 3 83 ,4 82 4 10, 873 4 38, 26 5 4 65, 65 6 4 65, 65 6

Commercial/Mixed Use

Acres

Annual 0.00 0.00 0.00 3.75 3.75 3.75 3.75 3.75 3.75 3.75 3.75 3.75 3.75 3.75 3.75 3.75 3.75 3.75 3.75 3.75 63.70

Cumulative 0.00 0.00 0.00 3.75 7.49 11.24 14.99 18.74 22.48 26.23 29.98 33.72 37.47 41.22 44.96 48.71 52.46 56.21 59.95 63.70 63.70

Square Feet

Annual 0 0 0 32,644 32,644 32,644 32,644 32,644 32,644 32,644 32,644 32,644 32,644 32,644 32,644 32,644 32,644 32,644 32,644 32,644 554,954

Cumula tiv e 0 0 0 32 ,6 44 65 ,2 89 9 7, 93 3 13 0, 57 8 1 63 ,2 22 1 95 ,8 66 2 28 ,5 11 2 61 ,1 55 2 93 ,7 99 3 26 ,4 44 3 59 ,0 88 3 91 ,7 33 4 24 ,3 77 4 57 ,0 21 4 89, 666 5 22, 31 0 5 54, 95 4 5 54, 95 4

Residential Acres

Annual 0.00 0.00 0.00 0.00 0.00 11.31 11.31 11.31 11.31 11.31 11.31 11.31 11.31 11.31 11.31 11.31 11.31 11.31 11.31 11.31 169.60

Cumulative 0.00 0.00 0.00 0.00 0.00 11.31 22.61 33.92 45.23 56.53 67.84 79.15 90.45 101.76 113.07 124.37 135.68 146.99 158.29 169.60 169.60

Units

Annual 0 0 0 0 0 42 42 42 42 42 42 42 42 42 42 42 42 42 42 36 624

Cumulative 0 0 0 0 0 42 84 126 168 210 252 294 336 378 420 462 504 546 588 624 624

Planning and Development



FISCAL IMPACT



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2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034


Gas Plant

Acres

Annual 0.0 0.0 32.5 32.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 64.9

Cumulative 0.0 0.0 32.5 64.9 64.9 64.9 64.9 64.9 64.9 64.9 64.9 64.9 64.9 64.9 64.9 64.9 64.9 64.9 64.9 64.9 64.9

Square Feet

Annual 0 0 70,676 70,676 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 141,352

C umula tiv e 0 0 7 0, 67 6 14 1, 352 1 41, 35 2 14 1, 352 1 41, 35 2 14 1, 35 2 1 41 ,3 52 1 41, 35 2 1 41 ,3 52 1 41, 35 2 14 1, 352 1 41, 35 2 14 1, 35 2 1 41 ,3 52 1 41 ,35 2 1 41 ,3 52 1 41, 35 2 14 1, 352 1 41, 35 2

Industrial

Acres Annual 0.00 0.00 0.00 6.29 6.29 6.29 6.29 6.29 6.29 6.29 6.29 6.29 6.29 6.29 6.29 6.29 6.29 6.29 6.29 6.29 106.90

Cumuative 0.00 0.00 0.00 6.29 12.58 18.86 25.15 31.44 37.73 44.02 50.31 56.59 62.88 69.17 75.46 81.75 88.04 94.32 100.61 106.90 106.90Square Feet

Annual 0 0 0 41,087 41,087 41,087 41,087 41,087 41,087 41,087 41,087 41,087 41,087 41,087 41,087 41,087 41,087 41,087 41,087 41,087 698,485C umula tiv e 0 0 0 41 ,0 87 8 2, 17 5 12 3, 262 1 64, 34 9 20 5, 43 7 2 46 ,5 24 2 87, 61 1 3 28 ,6 99 3 69, 78 6 41 0, 873 4 51, 96 1 49 3, 04 8 5 34 ,1 35 5 75 ,22 3 6 16 ,3 10 6 57, 39 7 69 8, 485 6 98, 48 5


Acres

Annual 0 0 0 3.7 3.7 3.7 3.7 3.7 3.7 3.7 3.7 3.7 3.7 3.7 3.7 3.7 3.7 3.7 3.7 3.7 63.7

Cumulative 0 0 0 3.7 7.5 11.2 15.0 18.7 22.5 26.2 30.0 33.7 37.5 41.2 45.0 48.7 52.5 56.2 60.0 63.7 63.7

Square Feet

Annual 0 0 0 32,644 32,644 32,644 32,644 32,644 32,644 32,644 32,644 32,644 32,644 32,644 32,644 32,644 32,644 32,644 32,644 32,644 554,954

C umula tiv e 0 0 0 32 ,6 44 6 5, 28 9 9 7, 933 1 30, 57 8 16 3, 22 2 1 95 ,8 66 2 28, 51 1 2 61 ,1 55 2 93, 79 9 32 6, 444 3 59, 08 8 39 1, 73 3 4 24 ,3 77 4 57 ,02 1 4 89 ,6 66 5 22, 31 0 55 4, 954 5 54, 95 4

Residential

Acres

Annual 0 0 0 0.0 0.0 11.3 11.3 11.3 11.3 11.3 11.3 11.3 11.3 11.3 11.3 11.3 11.3 11.3 11.3 11.3 169.6Cumulative 0 0 0 0.0 0.0 11.3 22.6 33.9 45.2 56.5 67.8 79.1 90.5 101.8 113.1 124.4 135.7 147.0 158.3 169.6 169.6

Units

Annual 0 0 0 0 0 42 42 42 42 42 42 42 42 42 42 42 42 42 42 36 624

Cumulative 0 0 0 0 0 42 84 126 168 210 252 294 336 378 420 462 504 546 588 624 624

p p , g



FISCAL IMPACT

Table 4: Absorption Schedule for the Severance Business Park Development, 20% Cover age for Industrial


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2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034


Gas Plant

Acres Annual 0.00 0.00 32.50 32.40 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 64.90

Cumulative 0.00 0.00 32.50 64.90 64.90 64.90 64.90 64.90 64.90 64.90 64.90 64.90 64.90 64.90 64.90 64.90 64.90 64.90 64.90 64.90 64.90

Square Feet

Annual 0 0 70,676 70,676 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 141,352

Cumula tive 0 0 7 0, 676 141 ,352 141 ,352 141 ,352 141 ,352 141 ,352 141 ,352 141 ,352 141 ,352 141 ,352 141 ,352 141 ,352 141 ,352 141 ,352 141 ,352 141 ,352 141 ,352 141 ,352 141 ,352

Industrial

Acres

Annual 0.00 0.00 0.00 6.29 6.29 6.29 6.29 6.29 6.29 6.29 6.29 6.29 6.29 6.29 6.29 6.29 6.29 6.29 6.29 6.29 106.90

Cumulative 0.00 0.00 0.00 6.29 12.58 18.86 25.15 31.44 37.73 44.02 50.31 56.59 62.88 69.17 75.46 81.75 88.04 94.32 100.61 106.90 106.90

Square Feet

Annual 0 0 0 54,783 54,783 54,783 54,783 54,783 54,783 54,783 54,783 54,783 54,783 54,783 54,783 54,783 54,783 54,783 54,783 54,783 931,313

C um ula tiv e 0 0 0 54, 783 109, 566 164, 349 219, 132 273, 916 328, 699 383, 482 438, 265 493, 048 547, 831 602, 614 657, 397 712, 180 766, 963 821, 747 876, 530 931, 313 931, 313


Acres

Annual 0.00 0.00 0.00 3.75 3.75 3.75 3.75 3.75 3.75 3.75 3.75 3.75 3.75 3.75 3.75 3.75 3.75 3.75 3.75 3.75 63.70

Cumulative 0.00 0.00 0.00 3.75 7.49 11.24 14.99 18.74 22.48 26.23 29.98 33.72 37.47 41.22 44.96 48.71 52.46 56.21 59.95 63.70 63.70

Square Feet

Annual 0 0 0 32,644 32,644 32,644 32,644 32,644 32,644 32,644 32,644 32,644 32,644 32,644 32,644 32,644 32,644 32,644 32,644 32,644 554,954

C um ula tiv e 0 0 0 32, 644 65, 289 97, 933 130, 578 163, 222 195, 866 228, 511 261, 155 293, 799 326, 444 359, 088 391, 733 424, 377 457, 021 489, 666 522, 310 554, 954 554, 954

Residential

Acres

Annual 0.00 0.00 0.00 0.00 0.00 11.31 11.31 11.31 11.31 11.31 11.31 11.31 11.31 11.31 11.31 11.31 11.31 11.31 11.31 11.31 169.60Cumulative 0.00 0.00 0.00 0.00 0.00 11.31 22.61 33.92 45.23 56.53 67.84 79.15 90.45 101.76 113.07 124.37 135.68 146.99 158.29 169.60 169.60

Units

Annual 0 0 0 0 0 42 42 42 42 42 42 42 42 42 42 42 42 42 42 36 624

Cumulative 0 0 0 0 0 42 84 126 168 210 252 294 336 378 420 462 504 546 588 624 624



FISCAL IMPACT


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C. M ARKET AND ASSESSED V ALUE

Ad valorem property taxes are a major income source of revenue to the various

providers of service in the impact area. The value of improvements is the basis for estimatingthe amount of property tax revenue distributed to each district/provider of service. In theState of Colorado and the Town of Severance, residential properties are currently taxed onapproximately 7.96% of market value and vacant land commercial properties are taxed on29.0%.

Tables 5-7 show the estimated actual and assessed value of the Severance BusinessPark based on the 3 different coverage ratios for industrial space. Upon completion, the non-

residential land including the gas plant and industrial/ commercial structures will be taxed on29% of market value, and the 624 residential units will be taxed on 7.96%. There will also bepersonal property, which THK has assumed will have a value equal to 10% of the totalindustrial value, which will be taxed on 29% of market value. We have assumed that eachphase of the gas plant will have a total value of $167,000,000 ($83,500,000 building and$83,500,000 equipment), the industrial space will have a value of $75 per square foot, thecommercial space will have a value of $100 per square foot and the 624 single family residentialunits will have a value of $250,000 per unit.

After the first two years, when the first phase of the gas plant is scheduled to bedeveloped, the non-residential assessed value of the property will be $48,430,000 (year three).By year four, when all the land types (except residential) will have been developed, thecommunity will have a non-residential assessed value of $98,462,030 at a 10% industrialcoverage ratio; $98,789,701 at 15%, and $99,117,373 at 20%. By year 20 the total marketvalue of the Severance Business Park will be approximately $583,912,093 at the 10% industrialcoverage ratio; $603,120,420 at 15%, and $622,328,746 at 20%. The assessed value will be

$136,512,107; $142,082,522, and $147,652,936 respectively. This does not assume inflation.

FISCAL IMPACT

Table 5: Annualized Market and Assessed Value Estimates for Severance Business Park, 10% Industrial Coverage


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2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10

Gas P lant $0 $0 $167,000,000 $334,000,000 $334,000,000 $334,000,000 $334,000,000 $334,000,000 $334,000,000 $334,000,000

Industrial

Real Estate M arket Value $0 $0 $0 $2,054,366 $4,108, 733 $6, 163, 099 $8, 217, 466 $10, 271, 832 $12, 326, 199 $14,380,565Personal Property Value $0 $0 $0 $205,437 $410,873 $616,310 $821,747 $1,027,183 $1,232,620 $1,438,057

Commercial/M ixed Use $0 $0 $0 $3,264,438 $6,528, 875 $9, 793, 313 $13, 057, 751 $16, 322, 188 $19, 586, 626 $22,851,064

Total Non-Residential Market Value $0 $0 $167,000,000 $339,524,241 $345,048,482 $350,572,722 $356,096,963 $361,621,204 $367,145,445 $372,669,685

Non-Residential Assessed Value (29.0%) $0 $0 $48,430,000 $98,462,030 $100,064,060 $101,666,089 $103,268,119 $104,870,149 $106,472,179 $108,074,209

Residential $0 $0 $0 $0 $0 $10,500,000 $21,000,000 $31,500,000 $42,000,000 $52,500,000

Residential Assessed Value (7.96%) $0 $0 $0 $0 $0 $835,800 $1,671,600 $2,507,400 $3,343,200 $4,179,000

TOTAL ASSESSED VALUES $0 $0 $48,430,000 $98,462,030 $100,064,060 $102,501,889 $104,939,719 $107,377,549 $109,815,379 $112,253,209

2,025 2,026 2,027 2,028 2,029 2,030 2,031 2,032 2,033 2,034


Gas Plant $334,000,000 $334,000,000 $334,000,000 $334,000,000 $334,000,000 $334,000,000 $334,000,000 $334,000,000 $334,000,000 $334,000,000

Industrial

Real Estate Market Value $16,434,932 $18,489,298 $20,543,665 $22,598,031 $24,652,398 $26,706,764 $28,761,131 $30,815,497 $32,869,864 $34,924,230

Persona l Proper ty Value $1,643,493 $1,848,930 $2,054,366 $2,259,803 $2,465,240 $2,670,676 $2,876,113 $3,081,550 $3,286,986 $3,492,423

Commercial/Mixed Use $26,115,501 $29,379,939 $32,644,376 $35,908,814 $39,173,252 $42,437,689 $45,702,127 $48,966,565 $52,231,002 $55,495,440

Total Non-Residential Market Value $378,193,926 $383,718,167 $389,242,408 $394,766,648 $400,290,889 $405,815,130 $411,339,371 $416,863,611 $422,387,852 $427,912,093

Non-Residential Assessed Value (29.0%) $109,676,239 $111,278,268 $112,880,298 $114,482,328 $116,084,358 $117,686,388 $119,288,418 $120,890,447 $122,492,477 $124,094,507

Residential $63,000,000 $73,500,000 $84,000,000 $94,500,000 $105,000,000 $115,500,000 $126,000,000 $136,500,000 $147,000,000 $156,000,000

Residential Assessed Value (7.96%) $5,014,800 $5,850,600 $6,686,400 $7,522,200 $8,358,000 $9,193,800 $10,029,600 $10,865,400 $11,701,200 $12,417,600

TOTAL ASSESSED VALUES $114,691,039 $117,128,868 $119,566,698 $122,004,528 $124,442,358 $126,880,188 $129,318,018 $131,755,847 $134,193,677 $136,512,107

Source: THK Associates, Inc.

FISCAL IMPACT



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2015 2016 2017 2018 2019 2020 2021 2022 2023 2024


Gas Plant $0 $0 $167, 000, 000 $334, 000, 000 $334, 000, 000 $334, 000, 000 $334, 000, 000 $334, 000, 000 $334, 000, 000 $334, 000, 000

Industrial

Real Estate Market Value $0 $0 $0 $3,081,550 $6,163,099 $9,244,649 $12,326,199 $15,407,749 $18,489,298 $21,570,848Personal Property Value $0 $0 $0 $308,155 $616,310 $924,465 $1,232,620 $1,540,775 $1,848,930 $2,157,085

Commercial/Mixed Use $0 $0 $0 $3,264,438 $6,528,875 $9,793,313 $13,057,751 $16,322,188 $19,586,626 $22,851,064

Tot al Non-Resident ial Marke t Value $0 $0 $167,000,000 $340,654,142 $347,308,285 $353,962,427 $360,616,569 $367,270,712 $373,924,854 $380,578,996

Non-Resident ia l Asses sed Value (29 .0%) $0 $0 $48,430,000 $98,789,701 $100,719,403 $102,649,104 $104,578,805 $106,508,506 $108,438,208 $110,367,909

Residential $0 $0 $0 $0 $0 $10,500,000 $21,000,000 $31,500,000 $42,000,000 $52,500,000



2025 2026 2027 2028 2029 2030 2031 2032 2033 2034


Gas Plant $334,000,000 $334,000,000 $334,000,000 $334,000,000 $334,000,000 $334,000,000 $334,000,000 $334,000,000 $334,000,000 $334,000,000

Industrial

Rea l Estate Market Value $24,652,398 $27,733,947 $30,815,497 $33,897,047 $36,978,596 $40,060,146 $43,141,696 $46,223,246 $49,304,795 $52,386,345

Persona l Prope rt y Value $2,465,240 $2 ,773,395 $3,081,550 $3,389,705 $3,697,860 $4,006,015 $4,314,170 $4 ,622,325 $4,930,480 $5,238,635

Commercia l/Mixed Use $26,115,501 $29,379,939 $32,644,376 $35,908,814 $39,173,252 $42,437,689 $45,702,127 $48,966,565 $52,231,002 $55,495,440



Res identia l $63,000,000 $73,500,000 $84,000,000 $94,500,000 $105,000,000 $115,500,000 $126,000,000 $136,500,000 $147,000,000 $156,000,000

Res identia l Assessed Value (7.96%) $5,014,800 $5,850,600 $6,686,400 $7,522,200 $8,358,000 $9,193,800 $10,029,600 $10,865,400 $11,701,200 $12,417,600



FISCAL IMPACT



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2015 2016 2017 2018 2019 2020 2021 2022 2023 2024


Gas Plant $0 $0 $167, 000, 000 $334, 000, 000 $334, 000, 000 $334, 000, 000 $334, 000, 000 $334, 000, 000 $334, 000, 000 $334, 000, 000

Industrial

Real Estate Market Value $0 $0 $0 $4,108,733 $8,217,466 $12,326,199 $16,434,932 $20,543,665 $24,652,398 $28,761,131

Personal Property Value $0 $0 $0 $410,873 $821,747 $1,232,620 $1,643,493 $2,054,366 $2,465,240 $2,876,113

Commercial/Mixed Use $0 $0 $0 $3,264,438 $6,528,875 $9,793,313 $13,057,751 $16,322,188 $19,586,626 $22,851,064

Total Non-Res ident ia l Marke t Value $0 $0 $167,000 ,000 $341,784,044 $349,568 ,088 $357,352,132 $365,136,176 $372 ,920,219 $380 ,704,263 $388 ,488 ,307

Non-Resident ia l Asses sed Value (29 .0%) $0 $0 $48 ,430 ,000 $99,117,373 $101,374 ,745 $103,632,118 $105,889,491 $108 ,146,864 $110 ,404,236 $112 ,661 ,609

Residential $0 $0 $0 $0 $0 $10,500,000 $21,000,000 $31,500,000 $42,000,000 $52,500,000



2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20

Gas Plant $334,000,000 $334,000,000 $334,000,000 $334,000,000 $334,000,000 $334,000,000 $334,000,000 $334,000,000 $334,000,000 $334,000,000

Industrial

Rea l Estate Market Value $32,869,864 $36,978,596 $41,087,329 $45,196,062 $49,304,795 $53,413,528 $57,522,261 $61,630,994 $65,739,727 $69,848,460

Pe rsonal Prope rty Value $3,286,986 $3 ,697 ,860 $4,108 ,733 $4,519,606 $4,930 ,480 $5,341,353 $5,752,226 $6,163,099 $6 ,573,973 $6 ,984,846

Commercia l/Mixed Use $26,115,501 $29,379,939 $32,644,376 $35,908,814 $39,173,252 $42,437,689 $45,702,127 $48,966,565 $52,231,002 $55,495,440



Res identia l $63,000,000 $73,500,000 $84,000,000 $94,500,000 $105,000,000 $115,500,000 $126,000,000 $136,500,000 $147,000,000 $156,000,000

Res identia l Assessed Value (7.96%) $5,014,800 $5,850,600 $6,686,400 $7,522,200 $8,358,000 $9,193,800 $10,029,600 $10,865,400 $11,701,200 $12,417,600


Source: THK Associates , Inc.

FISCAL IMPACT


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D. ONE TIME FEES TO THE TOWN OF SEVERANCE

The Town of Severance will benefit substantially from the one time fees generated in

during development of the Severance Business Park. After a discussion with city officials andinput from them regarding the development fees for the Town of Severance, THK has utilizedthe following assumptions as detailed in Table 8, 9 and 10 to determine the projected one timefees from the Severance Business Park.

ONE TIME FEES FOR EACH PHASE OF THE GAS PLANT

Total building fees are assumed to be $0 because the Town of Severance contracts the

process out Administrative Fees will total $68,066 Use tax will total $3,005,808 based on the $167,000,000 total value ($100,193,600

subject to Use Tax)

Based on lot size and building square footage drainage will total $27,490 andtransportation fees will total $50,910.

Additional administrative fees will total $300.

ONE TIME PER RESIDENTIAL UNIT FEES

Total building fees are assumed to be $0 because the Town of Severance contracts theprocess out

Town fees per unit, including administrative fees, use tax, drainage, etc. – will total$8,994 per unit.

ONE TIME COMMERCIAL FEES BASED ON AN AVERAGE BUILDING SIZE OF 72,000

SQUARE FEET

Total building fees are assumed to be $0 because the Town of Severance contracts theprocess out

Administrative fees will be $4,466 Use tax, based on a $100 per sq. ft. value, is $55,170 Based on lot size and building square footage drainage will total $3,200 and

transportation fees will total $22,601.

Administrative fees will total $300.

ONE TIME INDUSTRIAL FEES BASED ON AN AVERAGE BUILDING SIZE OF 72,000SQUARE FEET

Total building fees are assumed to be $0 because the Town of Severance contracts the

FISCAL IMPACT

$ $


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industrial. This totals to $13,119,848 at a 10% industrial coverage ratio; $13,390,653 at 15%,and $13,661,458 at 20%. These fees are detailed in tables 8, 9 and 10 below.

Gas Plant (each Phase)

Total Building Fees (permit and review) $0

Administrative Fee $68,066

Use Tax $3,005,808

Drainage $27,490

Transportation Impact $50,910

Administrative Service $300

Total per Phase $3,152,574

Project Total $6,305,148

Residential -Per Unit

Total Building Fees (includes permit and review) $0.00

Town Fees $8,994

Total One Time per Unit $8,994

Total One Time Fee for 624 Units $5,612,256

Commercial Based on 72,000 Sq. Ft.



Use Tax $55,170Drainage $3,200Transportation Impact $22,601


Total for 72,000 Sq. Ft. $85,737

Total per Sq. Ft. $1.19

Total Commercial Fees $660,834

Industrial @ 10% Coverage (per 72,000 sq. ft.)



Use Tax $48,600

Drainage $4 800

Table 8: One Time Fees at 10% Coverage

FISCAL IMPACT

T bl 9 O Ti F t 15% C


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Total Building Fees (permit and review) $0 Administrative Fee $68,066

Use Tax $3,005,808

Drainage $27,490






Total Building Fees (includes permit and review) $0.00Town Fees $8,994






Use Tax $55,170

Drainage $3,200



Total for 72,000 Sq. Ft. $85,737





Use Tax $48,600

Drainage $4,800


$


FISCAL IMPACT



52/116



Use Tax $3,005,808

Drainage $27,490






Total Building Fees (includes permit and review) $0.00Town Fees $8,994






Use Tax $55,170

Drainage $3,200



Total for 72,000 Sq. Ft. $85,737





Use Tax $48,600

Drainage $4,800


$


FISCAL IMPACT

E PROJECTED ANNUALLY RECURRING PROPERTY TAX AND OTHER REVENUES TO THE


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E. PROJECTED ANNUALLY R ECURRING PROPERTY T AX AND OTHER R EVENUES TO THETOWN OF SEVERANCE

At present the Town of Severance derives revenues from sales and property taxes, othertaxes, rates fees and charges and development impact fees.

Regarding sales taxes, THK Associates, Inc. has assumed that the average home priceof $250,000 will require an income of approximately $85,000. THK has also assumed, based onour retail models and expenditure patterns from the Urban Land Institute and the ColoradoDepartment of Revenue, that the typical household spends approximately 32% of their incomeon retail expenditures. This would result in $27,200 in retail expenditures per household from

the Severance Business Park community. THK estimates 20% of those retail expenditures arelikely to occur in the Town of Severance with the other 80% in other communities/jurisdictions. At the current total sales tax rate in Severance of 3%, taxes per household generated fromSeverance Business Park are estimated at $163.20 annually. Based on these numbers, at build-out the Severance Business Park community will generate $101,837 in sales tax. This is detailedin Table 11 below.

Average Home Price $250,000

Average Household Income $85,000

Retail Expenditures (32%) $27,200

Severance Expenditures (20%) $5,440

Sales Tax (3%) $163.20

Sales Tax at Build-out $101,837

Table 11: Estimated Sales Tax Per Household - Off-site


THK has also estimated the on-site sales tax generated in the commercial space at theSeverance Business Park site. The tax base is generated through the estimated build out of554,954 square feet of commercial land wherein 5%, or 27,748 square feet, will be retail.Using numbers from the Colorado Department of Revenue and Urban Land Institute, it isassumed that $250 in sales will be generated per sq. ft. Based on the 3% sales tax in

Severance, at build out this will equate to $208,108 of on-site sales tax. This is detailed in table12 below.

Table 12: Estimated On-site Sales Tax

FISCAL IMPACT

F REVENUE PROVIDED TO THE TOWN OF SEVERANCE FROM SEVERANCE BUSINESS


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F. R EVENUE PROVIDED TO THE TOWN OF SEVERANCE FROM SEVERANCE BUSINESSP ARK

The Town of Severance taxes 1.26% of assessed property value with a mill levy of12.635. In the first three years Severance will receive no revenues from property taxes asassessments and taxes lag at least 1 year from platting or building. In year four, $611,913 inproperty taxes would be realized. This revenue will increase to $1,695,537 at 10% industrialcoverage ratio; $1,761,779 at 15%, and $1,828,021 at 20% by year 20.

As discussed earlier, the Town of Severance also generates revenues from sales tax andone time revenues associated with the development of the Severance Business Park.

When all assumptions of revenues are applied to the proposed Severance Business Park,the total third-year revenues (when the project begins to generate revenues) to Severance willbe $3,152,574. Revenues will peak in year four at $3,847,461 at a 10% industrial coverage;$3,863,390 at 15%, and $3,879,320 at 20%. The revenue will then decline as one timerevenues from the development of the gas plant will have been collected. By year twentyrevenues will be estimated to be $2,399,998 at the 10% industrial coverage; $2,482,170 at the15% coverage and $2,564,341 at 20% coverage.

Over the next twenty years, Severance could expect to receive $39,869,198;$40,703,060 and $41,536,923 in revenues from 10%, 15% and 20% coverage scenarios atSeverance Business Park. These figures are illustrated in tables 13, 14 and 15 below.

FISCAL IMPACT

Table 13: Real Estate and Other Operating Revenues to the Town of Severance at 10% Coverage


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2015 2016 2017 2018 2019 2020 2021 2022 2023 2024


REAL ESTATE PROPERTY TAX REVENUES $0 $0 $0 $611,913 $1,244,068 $1,264,309 $1,295,111 $1,325,913 $1,356,715 $1,387,517

ON-SITE SALES TAX REVENUES $0 $0 $0 $12,242 $24,483 $36,725 $48,967 $61,208 $73,450 $85,691

OFF-SITE SALES TAXES $0 $0 $0 $0 $0 $6,854 $13,709 $20,563 $27,418 $34,272

ONE-TIME REVENUES* $0 $0 $3,152,574 $3,223,306 $70,732 $448,480 $448,480 $448,480 $448,480 $448,480

TOTAL REVENUES $0 $0 $3,152,574 $3,847,461 $1,339,283 $1,756,369 $1,806,267 $1,856,165 $1,906,063 $1,955,961

2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20 Total

REAL ESTATE PROPERTY TAX REVENUES $1,418,319 $1,449,121 $1,479,923 $1,510,725 $1,541,527 $1,572,329 $1,603,131 $1,633,933 $1,664,735 $1,695,537 $24,054,830

ON-SITE SALES TAX REVENUES $97, 933 $110, 175 $122,416 $134, 658 $146, 900 $159, 141 $171, 383 $183, 625 $195,866 $208, 108 $1, 872, 971

OFF-SITE SALES TAXES $41,126 $47,981 $54,835 $61,690 $68,544 $75,398 $82,253 $89,107 $95,962 $101,837 $821,549

ONE-TIME REVENUES* $448, 480 $448, 480 $448,480 $448, 480 $448, 480 $448, 480 $448, 480 $448, 480 $448, 480 $394, 516 $13, 119, 848

TOTAL REVENUES $2,005,859 $2,055,757 $2,105,655 $2,155,553 $2,205,451 $2,255,349 $2,305,247 $2,355,145 $2,405,043 $2,399,998 $39,869,198

*One time revenues come from admin fees, use tax, transportation impact, etc.

Source: Severance Development and Finance Departments and THK Associates, Inc.

FISCAL IMPACT



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2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 1 0





TOTAL REVENUES $0 $0 $3,152,574 $3,863,390 $1,359,353 $1,780,579 $1,834,617 $1,888,655 $1,942,693 $1,996,731

2025 2026 2027 2028 2029 2030 2031 2032 2033 2034

Year 1 1 Year 1 2 Year 1 3 Year 1 4 Year 1 5 Year 1 6 Year 1 7 Year 1 8 Year 1 9 Year 2 0 Total

REAL ESTATE PROPERTY TAX REVENUES $1,447,300 $1,482,242 $1,517,184 $1,552,127 $1,587,069 $1,622,011 $1,656,953 $1,691,895 $1,726,837 $1,761,779 $24 ,617 ,887

ON-SITE SALES TAX REVENUES $97,933 $110, 175 $122, 416 $134,658 $146, 900 $159, 141 $171, 383 $183, 625 $195, 866 $208, 108 $1, 872,971


ONE-TIME REVENUES* $464,410 $464, 410 $464, 410 $464,410 $464, 410 $464, 410 $464, 410 $464, 410 $464, 410 $410, 446 $13, 390,653

TOTAL REVENUES $2,0 50,769 $2,104 ,80 8 $2 ,15 8,84 6 $2 ,21 2,8 84 $2,266,922 $2 ,32 0,9 60 $2,374,998 $2,429,036 $2,483 ,075 $2,482 ,17 0 $4 0,7 03,060


Source: Sever ance Development and Finance Departments and THK Associa tes, Inc.

FISCAL IMPACT



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2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 1 0





TOTAL REVENUES $0 $0 $3,152,574 $3,879,320 $1,379,423 $1,804,789 $1,862,967 $1,921,145 $1,979,323 $2,037,502

2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Year 1 1 Year 1 2 Year 1 3 Year 1 4 Year 1 5 Year 1 6 Year 1 7 Year 1 8 Year 1 9 Year 2 0 Total

REAL ESTATE PROPERTY TAX REVENUES $1,476,281 $1,515,363 $1,554,446 $1,593,528 $1,632,610 $1,671,692 $1,710,775 $1,749,857 $1,788,939 $1,828,021 $25 ,180 ,945

ON-SITE SALES TAX REVENUES $97,933 $110, 175 $122, 416 $134, 658 $146, 900 $159, 141 $171,383 $183, 625 $195, 866 $208, 108 $1, 872, 971


ONE-TIME REVENUES* $ 480,339 $480, 339 $480, 339 $480, 339 $480, 339 $480, 339 $480,339 $480, 339 $480, 339 $426, 375 $13, 661, 458

TOTAL REVEN UES $ 2,0 95 ,6 80 $ 2,1 53 ,85 8 $2 ,21 2,03 7 $2 ,27 0,2 15 $ 2,32 8,3 93 $ 2,3 86,5 71 $ 2,4 44 ,7 50 $ 2,5 02 ,92 8 $2 ,5 61 ,10 6 $2 ,56 4,3 41 $ 41,5 36 ,92 3


Source: Severance Devel opment and Finance Departments and THK Associates, Inc.

FISCAL IMPACT

G. JOBS AND W AGES CREATED BY THE SEVERANCE BUSINESS P ARK


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Table 16, below, details the total number of jobs and wages created during the

construction of the Severance Business Park. THK has developed estimates for thesenumbers based on data provided by XTR Midstream and national average wages forvarying industries. Based on the varying industrial coverage ratios of 10%, 15% and20%, THK estimates 13,701 construction jobs will be created resulting in $146,911,446in wages; 14,166 construction jobs resulting in $167,865,984 in wages, and 14,632construction jobs resulting in $188,820,522 in wages, respectively.

The Severance Business Park site will create permanent jobs and wages as well

in the town of Severance and surrounding area. In table 17, THK has estimated thepermanent impact on employment in the Severance environs based on data providedby XTR Midstream and the national average wages for varying industries. Based on thevarying industrial coverage ratios of 10%, 15% and 20% THK estimates 2,898permanent jobs will be created resulting in $106,807,120 in wages; 3,416 permanent

jobs resulting in $127,502,960 in wages, and 3,933 permanent jobs resulting in$148,198,800 in wages, respectively. The permanent jobs result in lower total wagesthan construction wages as construction jobs will pay higher wages than most industrial,

retail and home service jobs.

FISCAL IMPACT


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AnnualUse 10% 15% 20% Wages 10% 15% 20%

Gas Plant Phase 1 75 75 75 $55,000 $4,125,000 $4,125,000 $4,125,000

Gas Plant Phase 2 75 75 75 $55,000 $4,125,000 $4,125,000 $4,125,000

Industrial 931 1,397 1,863 $45,000 $41,909,076 $62,863,614 $83,818,152

Commercial 1,387 1,387 1,387 $45,000 $62,432,370 $62,432,370 $62,432,370

Residential 11,232 11,232 11,232 $35,000 $34,320,000 $34,320,000 $34,320,000

Total 13,701 14,166 14,632 -- $146,911,446 $167,865,984 $188,820,522

Table 16: Construction Jobs and Wages Created From the Severance Business Park

Coverage Total Wages

Source: XTR Midstream and THK Associates, Inc.

Annual

Use 10% 15% 20% Wages 10% 15% 20%

Gas Plant Phase 1 50 50 50 $60,000 $3,000,000 $3,000,000 $3,000,000

Gas Plant Phase 2 20 20 20 $60,000 $1,200,000 $1,200,000 $1,200,000

Industrial 1,035 1,552 2,070 $40,000 $41,391,680 $62,087,520 $82,783,360

Commercial 1,586 1,586 1,586 $35,000 $55,495,440 $55,495,440 $55,495,440

Residential 208 208 208 $27,500 $5,720,000 $5,720,000 $5,720,000

Total 2,898 3,416 3,933 -- $106,807,120 $127,502,960 $148,198,800

Source: XTR Midstream and THK Associates, Inc.

Table 17: Permanent Jobs and Wages Created From the Severance Business Park

Coverage Total Wages

FISCAL IMPACT

H. R EAL ESTATE T AX R EVENUES TO OTHER PROVIDERS


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There are additional jurisdictions or service providers that also have taxing authority

over the Severance Business Park. A list of all estimated service providers and their tax rates isshown below.

Mill Levy Tax Rate

WELD COUNTY 15.800 1.58%

SCHOOL DIST RE4-WINDSOR 47.297 4.73%EATON SCHOOL DISTRICT 23.862 2.39%

NORTHERN COLORADO WATER (NCW) 1.000 0.10%

NORTH WELD COUNTY WATER (NWC) 0.003 0.00%

SEVERANCE TOWN 12.635 1.26%

WINDSOR-SEVERANCE FIRE 7.194 0.72%

WINDSOR-SEVERANCE FIRE (BOND 2023) 0.661 0.07%

AIMS JUNIOR COLLEGE 6.330 0.63%

CLEARVIEW LIBRARY 3.592 0.36%

HIGH PLAINS LIBRARY 3.267 0.33%

Total 121.641 12.16%

Source: Weld County Assessor/Treasurer and THK Associates, Inc.

Table 18: Town of Severance and Other Potential Mill Levies

When these mill levies (taxes rates) are applied to the assessed values anticipated for

the Severance Business Park, significant revenues to other service providers will be realized.Over the next twenty years all taxing service providers will receive $138,125,091 in real estatetax at a 10% industrial coverage ratio; $141,903,028 at 15%, and $145,690,966 at 20%coverage.

It should be noted that Parcels W, S, S1, S2, F, T, H, I, J, K, L and L1 arelocated in the Eaton School District and the High Plains Library District. Thoseparcels will contain the entirety of the gas plant, 43.8 acres of the industrial use,

40.8 acres of the retail/mixed use parcels and 302 of the 624 residential units, or48.4% of the residential market and assessed values. The other parcels are locatedin the Windsor School District and Clearview Library District. The assessed valuesapplicable to the Windsor Schools and Clearview Library Districts and Eaton Schooland High Plains Library Districts have been adjusted accordingly to estimate real

t t t t th titi

FISCAL IMPACT

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024


Table 19: Real Estate Tax Revenues to All Providers at 10% Coverage


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REAL ESTATE TAX REVENUES

WELD COUNT Y $0 $0 $0 $765,194 $1,555,700 $1,581,012 $1,619,530 $1,658,048 $1,696,565 $1,735,083SCHOOL DIST RE4-WINDSOR $0 $0 $0 $0 $34,393 $68,785 $123,576 $178,366 $233,157 $287,947

EAT ON RE2 SCHOOL DIST RICT $0 $0 $0 $1,155,637 $2,332,149 $2,353,026 $2,383,554 $2,414,083 $2,444,612 $2,475,141

NORTHERN COLORADO WATER (NCW) $0 $0 $0 $48,430 $98,462 $100,064 $102,502 $104,940 $107,378 $109,815

NORTH WELD COUNTY WATER (NWC) $0 $0 $0 $145 $295 $300 $308 $315 $322 $329

SEVERANCE T OWN $0 $0 $0 $611,913 $1,244,068 $1,264,309 $1,295,111 $1,325,913 $1,356,715 $1,387,517

WINDSOR-SEVERANCE FIRE $0 $0 $0 $348,405 $708,336 $719,861 $737,399 $754,936 $772,474 $790,012

WINDSOR-SEVERANCE FIRE (BOND 2023) $0 $0 $0 $32,012 $65,083 $66,142 $67,754 $69,365 $70,977 $72,588

AIMS JUNIOR COLLEGE $0 $0 $0 $306,562 $623,265 $633,405 $648,837 $664,268 $679,700 $695,131

CLEARVIEW LIBRARY $0 $0 $0 $0 $2,612 $5,224 $9,385 $13,546 $17,707 $21,868

HIGH PLAINS LIBRARY $0 $0 $0 $158,221 $319,300 $322,158 $326,338 $330,518 $334,697 $338,877

TOTAL REVENUES $0 $0 $0 $3,426,519 $6,983,663 $7,114,287 $7,314,293 $7,514,299 $7,714,304 $7,914,310

2025 2026 2027 2028 2029 2030 2031 2032 2033 2034

Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20 Total


WELD COUNTY $1,773,601 $1,812,118 $1,850,636 $1,889,154 $1,927,672 $1,966,189 $2,004,707 $2,043,225 $2,081,742 $2,120,260 $30,080,436

SCHOO L DIST RE4-W INDSOR $342, 738 $397, 528 $452, 319 $507, 109 $561, 899 $616, 690 $671, 480 $726, 271 $781, 061 $835, 852 $6, 819, 170

EATON SCHOOL DISTRICT $2,505,670 $2,536,199 $2,566,728 $2,597,257 $2,627,786 $2,658,315 $2,688,844 $2,719,373 $2,749,902 $2,780,431 $41,988,706

N ORT HERN COLO RADO W AT ER ( NCW ) $112, 253 $114, 691 $117, 129 $119, 567 $122, 005 $124, 442 $126, 880 $129, 318 $131, 756 $134, 194 $1, 903, 825

NORTH WELD COUNTY WATER (NWC) $337 $344 $351 $359 $366 $373 $381 $388 $395 $403 $5,711

SEVERANCE TOWN $1,418,319 $1,449,121 $1,479,923 $1,510,725 $1,541,527 $1,572,329 $1,603,131 $1,633,933 $1,664,735 $1,695,537 $24,054,830

WIN DSOR-SEVERANCE FI RE $807, 550 $825, 087 $842, 625 $860, 163 $877, 701 $895, 238 $912, 776 $930, 314 $947, 852 $965, 389 $13, 696, 117

WINDSOR-SEVERANCE FIRE (BOND 2023) $74,199 $75,811 $77,422 $79,034 $80,645 $82,256 $83,868 $85,479 $87,091 $88,702 $1,258,428

AIMS JUNIOR COLLEGE $710,563 $725,994 $741,426 $756,857 $772,289 $787,720 $803,152 $818,583 $834,015 $849,446 $12,051,213

CLEARVIEW LIBRARY $26,029 $30,191 $34,352 $38,513 $42,674 $46,835 $50,996 $55,157 $59,318 $63,479 $517,886

HI GHPLAI NS LIBRARY $343, 057 $347, 237 $351, 416 $355, 596 $359, 776 $363, 956 $368, 136 $372, 315 $376, 495 $380, 675 $5, 748, 768

TOTAL R EVENUES $8,114,316 $8,314,322 $8,514,327 $8,714,333 $8,914,339 $9,114,344 $9,314,350 $9,514,356 $9,714,362 $9,914,367 $138,125,091

Source: Weld County Assessor/Treasurer and THK Associates, Inc.

FISCAL IMPACT

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024


Table 20: Real Estate Tax Revenues to All Providers at 15% Coverage


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WELD COUNTY $0 $0 $0 $765,194 $1,560,877 $1,591,367 $1,635,061 $1,678,756 $1,722,451 $1,766,146

SCHOOL DIST RE4-WINDSOR $0 $0 $0 $0 $43,541 $87,081 $151,019 $214,958 $278,896 $342,835EAT ON SCHOOL DIST RICT $0 $0 $0 $1,155,637 $2,335,353 $2,359,433 $2,393,165 $2,426,898 $2,460,630 $2,494,363

NORTHERN COLORADO WATER (NCW) $0 $0 $0 $48,430 $98,790 $100,719 $103,485 $106,250 $109,016 $111,781

NORTH WELD COUNTY WATER (NWC) $0 $0 $0 $145 $296 $302 $310 $319 $327 $335

SEVERANCE T OWN $0 $0 $0 $611,913 $1,248,208 $1,272,590 $1,307,532 $1,342,474 $1,377,416 $1,412,358

WINDSOR-SEVERANCE FIRE $0 $0 $0 $348,405 $710,693 $724,575 $744,470 $764,365 $784,260 $804,155

WINDSOR-SEVERANCE FIRE (BOND 2023) $0 $0 $0 $32,012 $65,300 $66,576 $68,404 $70,232 $72,060 $73,888

AIMS JUNIOR COLLEGE $0 $0 $0 $306,562 $625,339 $637,554 $655,059 $672,565 $690,071 $707,576

CLEARVIEW LIBRARY $0 $0 $0 $0 $3,307 $6,613 $11,469 $16,325

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Severance Business Park Application

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