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CITY OF ELK RIVER <br />TAX REBATE FINANCING PROJECTION WORKSHEET <br /> <br />Project Name: Orluck Industries Expansion/Relocation <br /> <br />TRF Project: 20,000-sq.ft. light manufacturing facility, located on 2.79-acres <br /> <br />Assumption: Projection is based on estimated payable 2004 tax rates and estimated project market value. <br /> The Project will be assessed upon actual tax rates and market value in the year following construction. <br /> <br />State Class Rate <br /> Up to $150,000 <br /> Over $150,000 <br />Tax Capacity Rate <br /> City Portion <br /> County Portion <br /> School District Portion <br /> State Portion <br />Other Jurisdictions* <br />Total Tax Capacity Rate <br /> <br />0.015 <br />0.020 <br /> <br />0~43734 <br />0.44363 <br />0.32709 <br />0.54447 <br />0.03559 <br /> <br />1.78812 <br /> <br />ASSUMPTIONS <br />Pay 2004 <br /> <br />Pay 2004 <br /> <br />Pay 2004 est. <br />Pay 2004 est. <br />Pay 2004 est. <br />Pay 2004 est. <br />Pay 2004 est. <br />Pay 2004 est. <br /> <br /> Land Value .!:$ :.;;; <br /> Building Value <br />Total M ark et Value ¢¢; ;?:: ~;,;;2 ~2 <br />MAX Years of TRF Project <br />Property's Total Tax Capacity $ 23,504.00 <br /> <br />$1.75/sf for 2.79 Acres <br />$50/sf for 20,000-sqft <br /> <br /> City Portion $ 10,279.24 <br /> County Portion $ 10,427.08 <br />School District Portion $ 7,687.92 <br />State Portion $ 12,797.22 <br /> Other Jurisdictions $ 836.5I <br /> <br />Total Estimated Real Estate Taxes $ 42,027.97 <br /> <br />[County 1/2: $100,760.00 101 <br /> <br />Cost = $I .66/sf <br /> <br />*Amount of abatement will vary depending on market value, tax rates, class rates, construction schedule and inflation on MV. <br /> <br />*includes City HRA, City EDA, County HRA, County Rait Authority <br /> <br />*Does not include Market Value School Excess Levy Referendum 2003 rate of 0.07597% <br /> <br /> FILE:orluckTRF.xls 1/26/2004 <br /> <br /> <br />