Comparative Schedule Reflecting Combined Financial Impact to Three (3) Wharves LONG WHARF, FISHERMAN'S WHARF & UNION WHARF Current NMUOZ Zoning
Proposed Revised NMUOZ Zoning
Net Difference
Total Annual Real Estate Tax Revenue Potential Created by New Development
$2,118,238
$939,505
($1,178,733) Less Available Annually or 55.64% Loss
Total Annual Revenue Available to Fund Waterfront Capital Improvement Zone (T.I.F. District)
$1,853,038
$644,173
($1,208,865) Less Available Annually or 65.2% Loss
Total Funds Required for Marine Infrastructure Improvement
$5,383,317
$1,962,123
($3,421,194) Less Required Marine Investment or 63.55% Loss