You work as a budget analyst in South City. Your responsibility is to prepare a capital budget on behalf of the Mayor that will be presented to the Council.
Recently, South City permitted the construction of a few large casinos and hotels in a blighted area of town. This is anticipated to increase economic activity in the area, providing funds for much needed capital improvements. The improvements are being funded with a special purpose local option sales tax (SPLOST) and a tax increment finance (TIF) district, both of which have been authorized for 10 years. The City hired a consultant to make projections over this period, with SPLOST revenue estimated to be $15-$20 Million annually. The improvements are expected to increase the property tax base by $450-$500 Million (the City's current property tax rate is 1%).
The Mayor needs a budget that forecasts the SPLOST and TIF revenues, finances their priorities, and determines if any funds are likely to be available for another round of improvements at the conclusion of year 5. In forecasting revenue, you must create two scenarios, one with the lower bound estimate and another using the 50th percentile of the range, with both increasing by 2% from years 2-10. The projects are being financed with 5% par bonds that have 10-year maturities, and the City can earn 3% on their investments.

You need to draft a professional memo addressed to the Mayor on behalf of the Budget Director and provide supporting detail in the form of 1-2 data visualizations and a spreadsheet to show your calculations. The memo must clearly and concisely explain the revenue sources, financing, and project selections, while considering the different points in the revenue forecast range mentioned above.