INNOVATE INDIANA

Exhibit B-4
Project Impact
Description of anticipated
return on investment
ADDITIONAL SUPPORT | SECTION 19
The proposed 600 new residents that will live and shop in downtown Elkhart will provide approximately $30,000,000 in aggre
income and $12,000,000 in retails sales. This would result in an estimated income tax from the residents of approximately $4
and a 7% sale tax would produce $840,000 annually. The projects are anticipated to generate approximately $725,000 in rea
taxes annually. In addition, these residents will create the vitality and energy needed to continue to revitalize downtown Elkha
improve the quality of life of the entire region.
The commercial redevelopment project will generate an estimated $5,000,000 in retail sales, payroll of over $2,000,000 and $
in real estate taxes annually.
Total projected real estate taxes of $840,000 annually along with the sales taxes generated of roughly $1,190,000 from a $17
in sales as well as annual income taxes from the residents of approximately $475,000 put the total cash return at approximat
$2,480,000 annually. With the public investment of $26,000,000 this project would have a payback period of about 10½ years
Annual sales or other nontax
revenue generated ($) 17000000
Description of annual sales
or other non-tax revenue
generated
Jobs created (if applicable)
Description of jobs created
(if applicable)
annual sales would be generated from the commercial sales for this project of $5,000,000 annually as well as the $12,000,00
annual sales from the 600 residents living in downtown in the residential development.
495
Residential Development will result in approximately 250 construction jobs per phase; 30-40 permanent jobs related to the ap
and additional with the commercial space for restaurants and small commercial spaces within the development.
Commercial Development will result in approximately 100 construction jobs; 105 permanent jobs related to the retail developm
EXECUTIVE SUMMARY THE REGION ENGAGED CURRENT TRENDS
STATE OF THE REGION
& QUALITY OF PLACE
VISION & STRATEGY PROJECTS
STAKEHOLDERS, EXECUTION
& STRUCTURAL CHANGES
BENCHMARKING
& MEASUREMENT
17_EC_Market District Blue Zone Initiative
REGIONALCITIESOFNORTHERNINDIANA.ORG |
263
ADDITIONAL SUPPORT