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913/2004 Metro Plains-BLUFF BLOCK Page 2 of 5
<br /> CITY OF ELK RIVER-RIVERFRONT REDEVELOPMENT AREA
<br /> 52 Units of For Sale Single Family and 10,000 Sq/Ft Retail
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<br /> District New Redevelopment District
<br /> County District#
<br /> Inflation Rate-Every_Years •I'; ,
<br /> Internal Loan Rate ', $'
<br /> Pay-As-You-Go Interest Rate: 0.00%
<br /> Note Issued Date(Present Value Date): 01-Aug-04
<br /> Local Tax Rate-Frozen 122.7140% Pay 2004
<br /> Fiscal Disparities Election(A-inside or B outside) N/A
<br /> Year District was certified Pay 2004
<br /> Assumes First Tax Increment 2006
<br /> Assumes First Tax Increment For Dev 2007
<br /> Years of Tax Increment 26
<br /> Assumes Last Year of Tax Increment 2031
<br /> Fiscal Disparities Ratio N/A
<br /> Fiscal Disparities Metro Wide Tax Rate N/A
<br /> Local Tax Rate-Current 122.7140% Pay 2004
<br /> State Wide Property Tax Rate(Used for total taxes) 54.4470% Pay 2004
<br /> Market Value Tax Rate(used for total taxes) 0.07597% Pay 2004
<br /> Commercial Industrial Class Rate 1.5%-2 0% Pay 2004
<br /> First 150,000 1.50%
<br /> Over 150,000 2.00%
<br /> Rental Class Rate 1.25% Pay 2004
<br /> Property Land Building Total Class Base Date
<br /> PID Owner Market Value Market Value Market Value Rate Tax Capacity Payable
<br /> 754050450 ECM pubkskera 89,300 85,400 174,700 1.5%-2.0% 2,744 2004
<br /> 754050460 First Bank Maple Gro 118,400 139,200 257,600 1.5%-2.0% 4,402 2004
<br /> 754050470 aura Nadeau 117,200 118,200 235,400 1.5%-2.0% 3,958 2004
<br /> 754040140 3,500 0 3,500 1.5%-2.0% 53 2004
<br /> 7540401 200 0 200 1.5%-2.0% 3 2004
<br /> Totals Current Use 671,400 11,160
<br /> Totals For Sale Use 10,400,000 91.63% 615,204 1.00% 8,152
<br /> Totals Retail Use 950,000 8.37% 56,196 1.5%-2.0% 843
<br /> Totals NEW Use 671,400 6,995
<br /> Note:
<br /> 1. Market values are pay 2004 per review of County records on 2-23-04
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<br /> Use Total Market Value Taxes Per Total Market Class Date
<br /> Phase Sq.Ft./UnIts Sq.Ft./Units Sq.Ft./Units Taxes Value Rate Tax Capacity Payable
<br /> For Sale 52 200,000.00 2,606.22 135,523 10,400,000 1.00% 104,000 2006
<br /> Retail 10,000 85.00 3.31 33,054 950,000 1.5%-2.0% 18,250 2006
<br /> Total 168,577 11,350,000 122,250
<br /> •Tax estimates are based upon market value,construction costs and taxes per sq/ft.
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<br /> Total Local Fiscal Local Fiscal State-wide Local Fiscal State-wide Market Total
<br /> Use Tax Tax Disparities Tax Disparities Property Taxes Disparities Property Value Taxes
<br /> Capacity Capacity Tax Capacity Rate Tax Rate Tax Rate Taxes Taxes Taxes
<br /> For Sale 104,000 104,000 0 1.22714 0.00000 0.54447 127,623 0 0 7,901 135,523
<br /> Retail 18,250 18,250 0 1.22714 0.00000 0.54447 22,395 0 9,937 722 33,054
<br /> TOTAL 122,250 122,250 0 1.22714 0.00000 0.54447 150,018 0 9,937 8,623 168,577
<br /> Note: Elk River does not pay Fiscal Disparities and For Sale Homes do not pay State-wide property tax
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<br /> Prepared by Ehlers Cashflow 8-23-04 PLAN-20043
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