|
CITY OF ELK RIVER, MINNESOTA - TIF DISTRICT NO. 21
<br /> BASIC ASSUMPTIONS
<br />
<br />District: New Economic Development District
<br />Inflation Rate per Year 3.0000%
<br />Pay As You Go Rate 8.00%
<br />Current Tax Extension Rate - Pay 2000 1.194480
<br />Frozen Tax Extens on Rate - Pay 2001 Estimate 1.194480
<br />
<br />BASE TAX CAPACITY
<br />
<br />PID
<br />
<br /> Market Tax Rate Tax Year
<br /> Value Capacity Payable
<br />75-616-0020 763,000 2.4%-3.4% 24,442 2001
<br />TOTALS 763,000 24,442
<br />
<br />Developm~ PROJECT VALUE INFORMATION
<br /> Market Val Taxes Total Tax
<br /> Phase Sq. Ft. Sq. Ft. Per Total Capacity Tax Market
<br />Type Units Units ScI. Ft./Unit Taxes Rate Value
<br />Industrial 1 $53.00 73,000 $2.13 155,337 130,046 2.4%/3.4% 3,869,000
<br />TOTALS 155,337 130,046 3,869,000
<br />
<br /> TAX INCREMENT CASH FLOW PROJECTIONS
<br />
<br />Payable
<br />2002
<br />
<br /> Beginning Pedod Annual
<br /> Base Tax
<br />Yrs. Mth. Yr. Capacity
<br />0.5 07-01 2002 24,442
<br />1.0 12-01 2002 24,442
<br />1.5 07-01 2003 24,442
<br />2.0 12-01 2003 24,442
<br />2.5 07-01 2004 24,442
<br />3.0 12-01 2004 24,442
<br />3.5 07-01 2005 24,442
<br />4.0 12-01 2005 24,442
<br />4.5 07-01 2006 24,442
<br />5.0 12-01 2006 24,442
<br />5.5 07-01 2007 24,442
<br />6.0 12-01 2007 24,442
<br />6.5 07-01 2008 24,442
<br />7.0 12-01 2008 24,442
<br />7.5 07-01 2009 24,442
<br />8.0 12-01 2009 24,442
<br />8.5 07-01 2010 24,442
<br />9.0 12-01 2010 24,442
<br />
<br />Project
<br />Tax
<br />Capacity
<br />97,160
<br />97,160
<br />130 946
<br />130 946
<br />133 947
<br />133 947
<br />137 966
<br />137 966
<br />142 lo5
<br />142.105
<br />146 368
<br />146 368
<br />150 759
<br />150 759
<br />155 282
<br />155 282
<br />159 940
<br />159 940
<br />
<br />Captured Semi-Annual State Aud. Semi-Annual Local
<br />Tax Gross Tax Payment Tax Match
<br />Capacity Increment 0.25% Increment 10.00%
<br />72,718 43,430 (182) 43,248 4,325
<br />72,718 43,430 (182) 43,248 4,325
<br />105,604 63,071 (264) 62,807 6,281
<br />105,604 63,071 (264) 62,807 6,281
<br />109,505 65,401 (274) 65,127 6,513
<br />109,505 65,401 (274) 65,127 6,513
<br />113,524 67,801 (284) 67,517 6,752
<br />113,524 67,801 (284) 67,517 6,752
<br />117,663 70,273 (294) 69,979 6,998
<br />117,663 70,273 (294) 69,979 6,998
<br />121,926 72,819 (305) 72,514 7,251
<br />121,926 72,819 (305) 72,514 7,251
<br />126,317 75,442 (316) 75,126 7,513
<br />126,317 75,442 (316) 75,126 7,513
<br />130,840 78,143 (327) 77,816 7,782
<br />130,840 78,143 (327) 77,816 7,782
<br />135,498 80,925 (339) 80,586 8,059
<br />135,498 80,925 (339) 80,586 8,059
<br /> (5,168) 1,229,440 122,944
<br /> 843,511 (3,531) 839,980 83,998
<br />
<br />TOTALS 1,234,608
<br />
<br />PRESENT VALUE
<br />
<br />Prepared by City of Elk River 8/30/00 Page 1
<br />
<br />
<br />
|