Transcript CARDINAL FLOAT GLASS - Mayors Council of Oklahoma

CARDINAL GLASS INDUSTRIES
DURANT TIF
Corporate Headquarters
Eden Prairie, Minnesota
Founded in 1962
5500+ Employees
27 Manufacturing Locations
DURANT CARDINAL FG
APRIL 2003
CARDINAL FG
CONSTRUCTION PHASE
TAX INCREMENT FINANCING COMMITTEE
MAYOR JERRY TOMLINSON – CHAIRMAN TIF
CITY PLANNING & ZONING
CHAIRMAN
DURANT INDUSTRIAL
AUTHORITY CHAIRMAN
BRYAN COUNTY
COMMISSIONERS
CHAIRMAN
DURANT KIAMICHI
TECHNOLOGY CENTER
SUPERINTENDENT
DURANT SCHOOL DISTRICT
BOARD CHAIRMAN
BRYAN COUNTY EMERGENCY
MEDICAL SERVICES BOARD
PRESIDENT
BRYAN COUNTY HEALTH
DEPARTMENT DIRECTOR
2 COMMITTEE MEMBERS
AT LARGE
CARDINAL FG INVESTMENT
LAND/BUILDING:
$26,000,000
EQUIPMENT:
$74,600,000
ROBOTIC STACKERS:
$3,745,790
DURANT INFRASTRUCTURE:
$7,809,131
TOTAL INVESTMENT:
$112,154,921
CITY OF DURANT
TIF FUNDING REVENUES
FUNDING REVENUES:
TAX INCREMENT FINANCING
$5,200,000
TIF TRUST INVESTMENT
EARNINGS
$
29,967
CARDINAL CONTRIBUTION
*
$1,525,454
CARDINAL LAND INVESTMENT
*
$ 356,710
ODOT GRANT
$ 100,000
CDBG GRANT
$ 100,000
CDBG LOAN
TOTAL PROJECT REVENUES
*
$ 400,000
$ 7,809,131
MAIN PLANT ENTRANCE
A/C COLD END
PACKING
RAIL SPUR
BATCH HOUSE
PRODUCTION START DATE
JULY 4, 2004
WORKFORCE PAYROLL
7/4/2004 – 10/31/2011
$66,830,476
(7 YEARS 3
MONTHS)
NUMBER OF EMPLOYEES
270
2011 PROJECTED PAYROLL
$9,298,073
LOCAL EMPLOYEE TRAINING
THROUGH
KIAMICHI TECHNOLOGY
CENTER
$710,000
PRODUCTION FAQ
JULY 4, 2004 – OCTOBER 31, 2011
LOCAL SAND USED
870,000+ TONS
NATURAL GAS
PURCHASED
GLASS PRODUCED
$57,926,951
1,470,747 TONS
TAX INCREMENT FINANCING
CARDINAL FG PROPERTY TAX
TAX RECEIPTS:
7/13/2006 – 11/02/2011
(5 YEARS, 3 MONTHS)
INTEREST EARNINGS
THROUGH 11/14/2011
TOTAL PROPERTY TAX
RECEIPTS
$6,191,539.95
$6,168.68
$6,197,708.63
TAX INCREMENT FINANCING
CARDINAL FG PROPERTY TAX
TAX INCREMENT FINANCING BONDS CALLED:
7/17/2006 – 12/01/2011
(5 YEARS, 4 MONTHS)
INTEREST PAID
THORUGH 12/01/2011
TOTAL PAID
PAYMENT BALANCE
$5,000,000.00
$1,196,001.33
$6,196,001.33
$973,266.67
BRYAN COUNTY TREASURER
VALUATIONS – TAXES COLLECTED
TAX YEAR
VALUATION
TAX AMT TO BE COLLECTED
1998
$93,871,436.00
$7,732,615.40
1999
$100,445,650.00
$8,202,143.20
2000
$109,866,153.00
$8,898,342.28
2001
$118,670,260.00
$10,121,833.92
2002
$126,263,987.00
$10,813,303.60
2003
$137,605,693.00
$11,646,516.32
2004
$152,551,178.00
$12,365,781.20
2005
$179,425,806.00
$15,252,231.76
2006
$189,471,429.00
$16,165,285.56
2007
$198,871,102.00
$16,736,427.98
2008
$210,956,317.00
$17,819,969.00
2009
$238,822,840.00
$20,320,364.00
2010
$265,261,093.00
$22,424,843.00
Mayor Jerry L. Tomlinson
City of Durant
P.O. Box 578
Durant, OK 74702
Phone: 580-931-6605
[email protected]
www.durant.org
Tommy Kramer, Executive Director
Durant Industrial Authority
215 North Fourth Avenue
Durant, OK 74701
Phone: 580-924-4570
[email protected]
www.ok-durant.org