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Projected Tax Abatement Report
<br /> City of Elk River,Minnesota
<br /> Proposed Tax Abatement for Envision Co.,LLC
<br /> Initial Analysis based on Request: City Participation for 20 Years
<br /> Total EMV of$5,243,700
<br /> Less:
<br /> Non- Retained Times: Maximum Maximum Maximum P.V.
<br /> Annual Total Total Abated Captured Tax Tax Tax Tax Total Annual
<br /> Period Estimated Net Tax Net Tax Net Tax Capacity Abatement Abatement Abatement Tax Abate To
<br /> Ending Market Value(1) Capacity(2) Capacity(3) Capacity Rate City(4) County School District Abatement 12/31/15
<br /> 47.19% 51.98% 42.48%
<br /> (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) 4.00%
<br /> 12/31/17 1,310,925 25,469 0 25,469 146.431% 12,019 0 0 12,019 11,112
<br /> 12/31/18 5,243,700 104,124 0 104,124 146.431% 49,136 0 0 49,136 43,682
<br /> 12/31/19 5,243,700 104,124 0 104,124 146.431% 49,136 0 0 49,136 42,002
<br /> 12/31/20 5,243,700 104,124 0 104,124 146.431% 49,136 0 0 49,136 40,386
<br /> 12/31/21 5,243,700 104,124 0 104,124 146.431% 49,136 0 0 49,136 38,833
<br /> 12/31/22 5,243,700 104,124 0 104,124 146.431% 49,136 0 0 49,136 37,339
<br /> 12/31/23 5,243,700 104,124 0 104,124 146.431% 49,136 0 0 49,136 35,903
<br /> 12/31/24 5,243,700 104,124 0 104,124 146.431% 49,136 0 0 49,136 34,522
<br /> 12/31/25 5,243,700 104,124 0 104,124 146.431% 49,136 0 0 49,136 33,195
<br /> 12/31/26 5,243,700 104,124 0 104,124 146.431% 49,136 0 0 49,136 31,918
<br /> 12/31/27 5,243,700 104,124 0 104,124 146.431% 49,136 0 0 49,136 30,690
<br /> 12/31/28 5,243,700 104,124 0 104,124 146.431% 49,136 0 0 49,136 29,510
<br /> 12/31/29 5,243,700 104,124 0 104,124 146.431% 49,136 0 0 49,136 28,375
<br /> 12/31/30 5,243,700 104,124 0 104,124 146.431% 49,136 0 0 49,136 27,284
<br /> 12/31/31 5,243,700 104,124 0 104,124 146.431% 49,136 0 0 49,136 26,234
<br /> 12/31/32 5,243,700 104,124 0 104,124 146.431% 49,136 0 0 49,136 25,225
<br /> 12/31/33 5,243,700 104,124 0 104,124 146.431% 49,136 0 0 49,136 24,255
<br /> 12/31/34 5,243,700 104,124 0 104,124 146.431% 49,136 0 0 49,136 23,322
<br /> 12/31/35 5,243,700 104,124 0 104,124 146.431% 49,136 0 0 49,136 22,425
<br /> 12/31/36 5,243,700 104,124 0 104,124 146.431% 49,136 0 0 49,136 21,563
<br /> $945,605 $0 $0 $945,605 $607,775
<br /> (1) Total estimated market value as provided by County Assessor based on 105,000 square foot new facility. 0%annual market value inflator
<br /> (2) Total net tax capacity based on commercial-industrial property class rates(1.5%first$150,000 value and 2%value above$150,000)
<br /> (3) Non abated net tax capacity assumed to be$0 as value currently owned by EDA and tax exempt
<br /> (4) Based on 2015 local tax capacity rates. Subject to change annually with actual rates
<br /> Public Sector Advisors
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