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Exhibit 11 <br /> Assumptions Report <br /> City of Elk River, Minnesota <br /> Tax Increment Financing (Economic Development)District No.23 <br /> Proposed Preferred Powder Coating Project <br /> EMV$4,670,900 (Land: $815,900 and Building: $3,855,000)with 3% Annual MV Inflator <br /> Type of Tax Increment Financing District Economic Development <br /> Maximum Duration of TIF District 8 years from 1st increment <br /> Projected Certification Request Date 10/01/13 <br /> Decertification Date 12/31/23 (9 Years of Increment) <br /> 2013/2014 <br /> Base Estimated Market Value $815,900 <br /> Parcel ID: 75-820-0305 <br /> Original Net Tax Capacity $15,568 <br /> Assess ment/Collection Year <br /> 2013/2014 2014/2015 2015/2016 2016/2017 <br /> Base Estimated Market Value $815,900 $815,900 $815,900 $815,900 <br /> Increase in Estimated Market Value 0 3,855,000 3,995,127 4,139,458 <br /> Total Estimated Market Value 815,900 4,670,900 4,811,027 4,955,358 <br /> Total Net Tax Capacity $15,568 $92,668 $95,471 $98,357 <br /> City of Elk River 50.3730% <br /> Sherburne County 54.4200% <br /> ISD#728 50.0580% <br /> Other 5.264% <br /> Local Tax Capacity Rate 160.115% <br /> Fiscal Disparities Contribution From TIF District NA <br /> Administrative Retainage Percent(maximum = 10%) 1.00% <br /> Pooling Percent 0.00% <br /> Bonds Note(Pay-As-You-Go) <br /> Bonds Dated NA Note Dated 10/01/13 <br /> Bond Issue @ 0.00%(NIC) NA Note Rate 3.00% <br /> Eligible Project Costs NA Note Amount $1,153,878 <br /> Present Value Date&Rate 10/01/13 3.00% <br /> Notes <br /> Assumes no changes to future class rates or tax rates <br /> Assumes construction starts and completes in 2013,with full value assessed 1/2/2014 and pay 2015 <br /> Assumes estimated market value of$4,670,900(land$815,900 and building $3,855,000) <br /> with 1%annual market value inflator <br /> SPRINGSTED Page 16 <br />