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1 , The Academy will be a State Certified School . No Public Tax funds will be <br /> available from Pasco County Government Academy . tfor the costs of educating residents <br /> `with `the exception. of 3 students at'. a. 'time •wh,i ch <br /> may, on a negotiated ..tu.i.t.ion bas,i:s; ..be enrolled in certain accelerated courses such as <br /> Adv. Calculus, etc. No resident 'of !The :Academy . •wi,ll be enrolled .-in Pasco Cty. Public "Schls. <br /> 2. The. Board of Directors of the_ .Academy;will consist of at least nine persons one of whom <br /> shall be appointed by a majority vote of the city council , City of Zephyrhills . <br /> The Board of Directors shall , among other duties, set admissions criteria for <br /> residents of the Academy. <br /> 3. The developer will not be required to construct Green Slope Drive north of the <br /> southerly entrance until 180 days after provision of a 60 foot public right-of way. <br /> 4. Dur.i.ng FY'92 there were 42 new single family dwellings built in Zephyrhills with <br /> an estimated value of $2,301 ,731 . This is an average cost of approximately <br /> $54,803 excluding land. Typical single family lot costs are approximately $15,000 <br /> which indicate an average market value of $70,000, or a taxable value after <br /> homestead exemptions of $45,000. If half of the homes built in FY '92 had been <br /> on the Neukom site, the City of Zephyrhills property .tax produced at a millage rate <br /> of 6.42 would have been approximately $6,067. I suggest that payment-in-lieu of <br /> taxes as follows: <br /> FY '93 • $ 6,000 equivalent of 21 SF <br /> FY '94 12,000 42 <br /> FY '95 18,000 ' 63 <br /> FY '96 24,000 84 <br /> FY '97 30,000 105 <br /> FY '98 36,000 126 <br /> FY '99 42,000 147 <br /> FY 2000 48,000 168 <br /> FY '01 54,000 189 <br /> FY '02 60,000 210 <br /> FY '03 _ 66,000 231 <br /> FY '04 70,000 24,1* <br /> FY '05 et.sec. 70,000 • <br /> • <br /> • <br /> *Build out if developed at 3.3 d.u./gross acre <br /> • <br /> Any P. I .L.O.T. should be incorporated as a .condition of site plan approval . <br /> 5• The developer agrees to indemnify the City from .liability' forany, l:i.t.i.gati.on.,:which' ,may <br /> res'ult.,from`'requested PUD zoning or-any subsequent development order. <br /> Agreed to <br /> • B & B Project Straight <br /> dba The Academy <br /> 11/ By ; . <br /> Date to T <br />