1. VALUE CAPTURE STRATEGY As part of planning for the Stitch, the project team aimed to quantify the value capture potential as a result of the capital project and real estate development in the surrounding areas. The analysis examines the feasibility of directing funding from real estate value capture to: ● The operations and maintenance (O&M) of the Stitch, and ● If funding is available, supplementary capital funding for the Stitch through bond issuance The analysis includes two main scenarios for value capture-based revenue: ● Scenario 1: Establishing a Special Service District (SSD) ● Scenario 2: Establishing a Special Service District (SSD) with additional parcels included in the boundary. An additional Scenario 2b was included to investigate a phased approach for millage rate. OVERVIEW KEY TIMELINE ASSUMPTIONS This analysis includes years from 2025 to 2059. The SSD is indefinite, and the bond period is 30 years.
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Construction of The Stitch
Phase 1
Phase 2
Phase 3
Anticipated Real Estate Development
Near Term
Medium Term
Long Term
SSD Revenue
Start 2025
Bonds sold 2029
Bonds
Bond
paid 2058
K-4
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