City of East Point, GA

Transcription

1 City of East Point, GA 1 City of East Point, Georgia Tax Allocation Refunding Bonds (Camp Creek Tad Project),, $13,925,000 Dated: October 14, East Point Building Authority (Georgia) Revenue Refunding Bonds (Water & Sewer Project) Series 2007 $27,595,000 Dated: March 30, East Point Building Authority (Georgia) Revenue Bonds (Water & Sewer Project) Series 2006A, $50,195,000 Dated: June 1, 2006 A Comparative Balance Sheet and a Statement of Revenues, Expenditures, and Changes in Fund Balances for the Camp Creek TAD Fund See Attach Exhibit A An annual estimate of the debt service coverage for the Outstanding Bonds from the Tax Allocation Increment collected and deposited in the Tax Increment Fund in the current year Amount on Deposit Series XXXX Bonds Year Ended in Series XXXX Maximum Annual 1 Aug Special Fund Debt Service Coverage 2016 $ 3,254,400 $ 2,190, % 2017 $ 2,758,109 $ 1,606, % Identification of the ten largest taxpayers in the Camp Creek TAD and any other taxpayers responsible for more than five percent of the taxes levied in the Camp Creek TAD (including the percentage that each such taxpayer represents of the total assessed value within the Camp Creek TAD) Top Ten Tax Payers Parcel 2016 Taxable % of TAD Land Use Land Use Tax Payer County Value Taxable Value (Taxable Value) (Square Feet) BRE DDR BR Camp Creek GA LLC Fulton $ 24,137, % $ 22,642, ,087 Duke Realty Limited Partnership Fulton $ 22,497, % $ 22,497,560 6,528,511 Duke Reaalty Limited Fulton $ 12,473, % $ 12,473,200 3,227,840 Duke Secured Financing Two fulton $ 5,287, % $ 5,287,800 1,684,508 Development Authority of Fulton Fulton $ 5,987, % $ 5,987, ,446 Lowes Homes Centers Inc Fulton $ 4,815, % $ 4,815, ,271 Target Corportation Fulton $ 3,395, % $ 3,395, ,377 Duke Weeks Realty LTD Fulton $ 3,263, % $ 3,263, ,738 GGC Real Estate Investments Fulton $ 2,630, % $ 2,630,280 82,328 FCPT Hospitality Properties LLC Fulton $ 1,452, % $ 1,452,320 70,132 Top Ten Taxpayers $ 85,941, % Total Camp Creek TAD $ 93,389,256

2 The assessed values of the Projects Assessed Values by Property Type Camp Creek TAD 2016 Assessed Value Percentage of Total Parcels Commercial 62,092, % 35 Industrial 30,551, % 29 Residential 31, % 3 Total 92,675, % 67 The number of parcels and the assessed values of property within the Camp Creek TAD under appeal, if known Assessed and Actual Value Of Taxable Property Real Property Personal Property Public Utilities Tax Estimated Estimated Estimated Year Assessed Value Actual Value Assessed Value Actual Value Assessed Value Actual Value ,240,900 1,550,602, ,774,490 69,909,796 44,334,406 1,108,360,150 Motor Vehicles and Motor Homes/Vehicles Less Exemptions Total Tax Estimated Estimated Estimated Year Assessed Value Actual Value Assessed Value Actual Value Assessed Value Actual Value ,511,710 68,779,275 69,268, ,939,065 2,167,347,663 Property Tax Levies and Collections Tax Collections Percentage of Percentage of Delinquent Taxes Fiscal Collection of Current Total Tax Collections to Outstanding as Year Tax Levy Current Year's Prior Years Total Year's Levy to Tax Levy Tax Levy of Year End ,872,961 10,120,030 3,493,586 13,613, % % 1,161,126 Ten Largest Taxpayers Fiscal Years Ended June 30, 2016 Percent of Taxpayer Assessed Value Taxes Levied Total Tax Levy 1 BRE DDR BR Camp Creek LLC $24,137,400 $415, % 2 Duke Realty Limited Partnership 24,881, , % 3 Landmark At Creekside Grand LLC 19,204, , % 4 Duke Realty Limited Partnership 12,473, , % 5 HPT IHG Three Properties LLC 13,211, , % 6 Owens Brockay Glass Container 19,249, , % 7 Dicks Sproting Goods, Inc 33,597, , % 8 Development Authority of Fulton 8,429, , % 9 Newell Recycling of Atlanta LLC 7,532, , % 10 Wal Mart Real Estates 6,712, , % Total $169,429,337 $2,348, %

3 Ten Largest Employers As of June 30, 2016 Percentage of Approximate Total City Employer Employees Employment 1 Tenet South Fulton, Inc % 2 City Of East Point % 3 Newell Recycling, LLC % 4 Ceva Logistics, LLC % 5 Alliance Laundry And Textile Service Of Atlanta, LLC % 6 BJ's Wholesale Club, Inc % 7 Bonterra Nursing Center % 8 The Martin Brower Company LLC % 9 Cornerstone Solutions, Inc % 10 CeLLCo Partnership % Total %

4 EXHIBIT A NOTICE OF FAILURE TO FILE ANNUAL FINANCIAL INFORMATION AS REQUIRED BY SEC RULE 15(c) 2-12 Issuer: City of East Point, Georgia City of East Point, Georgia Tax Allocation Refunding Bonds (Camp Creek Tad Project),, $13,925,000 Dated: October 14, 2015 Date of Issuance 10/14/ AA9, AB7, AC5, AD3, AE AF8, AG6, AH4, AJ0, AK7, AL5 Date of Issuance 03/30/2007 East Point Building Authority (Georgia) Revenue Refunding Bonds (Water & Sewer Project) Series 2007 $27,595,000 Dated: March 30, ET8, EU5, EV3, EW1, EX9, EY7, EZ4, FA8, FB6, FC4 Date of Issuance 06/01/2006 East Point Building Authority (Georgia) Revenue Bonds (Water & Sewer Project) Series 2006A, $50,195,000 Dated: June 1, DW2, DX0, DY8, DZ5, EA9, EB7, EC5, ED3, EE1, EF8, EG6, EH4, EJ0, EK7, EL5, EM3, EN1, EP6, EQ4, ER2, ES0 This notice is being provided by the City pursuant to Rule 15c2-12 of the Securities Exchange Act of NOTICE IS HEREBY GIVEN that the City will not provide its annual audited financial information by the filing deadline of December 27, 2016 for the fiscal year ended December June 30, 2016, as required by its continuing disclosure undertaking. In lieu thereof, the City has filed this notice of Failure to File Annual Audited Financial Information and unaudited financial reports. The City expects to file its annual audited financial information by January 31, The City has taken steps to ensure compliance in the future with its continuing disclosure undertaking. The annual financial information that will not be timely filed consists of: a) The City s audited financial statement for fiscal year ended June 30, b) The OPEB evaluation.

5 Dated: December 27, 2016 Lolita Grant Finance Director