The information contained in Mr. Hayes’ email today regarding estimated urban renewal tax increment receipts for the 2010 tax year are higher than the fiscal year 2011 LCDC district budget tax increment receipts adopted by the LCDC Board last August (please refer to 8/18/10 LCDC Board Minutes).  Assuming everyone pays their taxes, Mr. Hayes’ documents show $3.9 million of estimated tax increment revenue for the LCDC Lake District ($3.1 million per FY2011 LCDC budget), and $1.7 million of estimated tax increment revenue for the LCDC River District ($1.4 million per FY2011 LCDC budget). The primary reason for the variance in Mr. Hayes’ values and the LCDC budget values is that LCDC has to use projected increment valuations and estimated taxing district levy rates when setting the budget in August of each year/Tony Berns, executive director/Lake City Development Corp. More here.