FISCAL IMPACT STATEMENT
FOR PROPOSED BOND FINANCING

Date: February 13, 2007

To the Board of Supervisors
of Albemarle County, Virginia

Applicant:         Westminster-Canterbury of the Blue Ridge
                        Facility: Continuing Care Retirement Community

1.            Maximum amount of financing sought.

 

             $            45,000,000

2.            Estimated taxable value of the facility's real property to be constructed in the locality.

 

 

             $              6,000,000

3.            Estimated real property tax per year using present tax rates.

 

 

             $                 800,000

4.            Estimated personal property tax per year using present tax rates.

 

 

             $                   25,000

5.            Estimated merchants' capital tax per year using present tax rates.

 

 

             $                            0

6.     (a)  Estimated dollar value per year of goods that will be purchased from Virginia companies within the locality.

 

 

             $              2,000,000

(b)  Estimated dollar value per year of goods that will be purchased from non-Virginia companies within the locality.

 

 

             $              1,000,000

(c)  Estimated dollar value per year of services that will be purchased from Virginia companies within the locality.

 

 

             $                 200,000

(d)  Estimated dollar value per year of services that will be purchased from non-Virginia companies within the locality.

 

 

             $                 100,000

7.            Estimated number of regular employees on year round basis.

 

 

260

8.            Average annual salary per employee.

             $                   30,000


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