They are aware that the Broward County Tax Appraiser will assess the property and that as most industrial facilities, the equipment is subject to depreciation.  The City's millage rate has remained fairly constant (stagnant growth), but as the tax base increases, they expect the millage rate to decrease.  The City is looking for a fixed annual revenue stream of $1.5 - 1.726 mm (similar to Pompano's 1.5 mm).
 
After we have all had a chance to review the doc - it would be good to have a conference call to discuss.  We're targetting to get a draft to the City early next week.
 
Steve

-----Original Message----- 
From: Jacoby, Ben 
Sent: Thu 5/31/2001 8:29 AM 
To: 'OrshefskyD@GTLAW.com@ENRON'; Krimsky, Steven 
Cc: Mann, Kay 
Subject: RE: FW: Attached Files



Ad valorems do not necessarily decrease as a result of depreciation, because millage rates and a current years reassessment also are part of the calculation. 

Have they asked for this? 

	 -----Original Message----- 
From:   OrshefskyD@GTLAW.com@ENRON [ mailto:IMCEANOTES-OrshefskyD+40GTLAW+2Ecom+40ENRON@ENRON.com] 
Sent:   Thursday, May 31, 2001 6:19 AM 
To:     Jacoby, Ben; Krimsky, Steven 
Cc:     Mann, Kay; OrshefskyD@GTLAW.com 
Subject:        Re: FW: Attached Files 

	We wanted to maintain a recurring 1.5mm and since ad advalorems will 
decrease as a function of depreciation we thought the way to maintain the 
constant we to increase the 650k at the same rate as the depreciation. 
-------------------------- 
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