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CITY OF ELK RIVER, MINNESOTA - TIF DISTRICT NO. 21
<br />
<br /> BASIC ASSUMPTIONS District
<br />District: New Economic Development
<br />Inflation Rate per Year 3.0000%I
<br />Pay As You Go Rate 8.00%I
<br />Current Tax Extension Rate - Pay 2000 1.194480
<br />Frozen Tax Extension Rate - Pay 2001 Estimate 1.194480
<br />
<br /> PID BASE TAX CAPACITY
<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 />Phase
<br />
<br /> PROJECT VALUE INFORMATION
<br />Market Val Taxes Total Tax
<br />Sq. Ft. Sq. Ft. Per Total Capacity
<br />Units Units Sq. Ft./Unit Taxes
<br />
<br />Developm~ Tax Market
<br />Type Rate Value Payable
<br />Industrial 1 $53.00 73,000 $2.13 155,337 130,046 2.4%/3.4% 3,869,000 2002
<br />TOTALS 155,337 130,046 3,869,000
<br />
<br /> TAX INCREMENT CASH FLOW PROJECTIONS
<br />
<br /> Beginning Period Semi-Annual State Aud. Semi-Annual Local
<br /> Gross Tax Payment Tax Match
<br />Yrs. Mth. Yr. Increment 0.25% Increment 10.00%
<br />
<br />0.5 07-01 2002
<br />1.0 12-01 2002
<br />1.5 07-01 2003
<br />2.0 12-01 2003
<br />2.5 07-01 2004
<br />3.0 12-01 2004
<br />3.5 07-01 2005
<br />4.0 12-01 2005
<br />4.5 07-01 2006
<br />5.0 12-01 2006
<br />5.5 07-01 2007
<br />6.0 12-01 2007
<br />6.5 07-01 2008
<br />7.0 12-01 2008
<br />7.5 07-01 2009
<br />8.0 12-01 2009
<br />8.5 07-01 2010
<br />9.0 12-01 2010
<br />
<br />Annual Pr~e~
<br />Base Tax Tax
<br />Capaci~ Capacity
<br />24,442 97,160
<br />24,442 97,160
<br />24,442 130 046
<br />24,442 130 046
<br />24,442 133 947
<br />24,442 133 947
<br />24,442 137 966
<br />24,442 137 966
<br />24,442 142 105
<br />24,442 142 105
<br />24,442 146 368
<br />24,442 146 368
<br />24,442 150 759
<br />24,442 150 759
<br />24,442 155 282
<br />24,442 155 282
<br />24,442 159 940
<br />24,442 159940
<br />
<br />Captured
<br />Tax
<br />Capaci~
<br />72,718
<br />72,718
<br />105 604
<br />105 604
<br />109 505
<br />109 505
<br />113 524
<br />113 524
<br />117 663
<br />117 663
<br />121 926
<br />121 926
<br />126 317
<br />126 317
<br />130 840
<br />130 840
<br />135 498
<br />135 498
<br />
<br />TOTALS 1,234,608
<br />PRESENT VALUE 843,511
<br />
<br />43,430 (182) 43,248 4,325
<br />43,430 (182) 43,248 4,325
<br />63,071 (264) 62,807 6,281
<br />63,071 (264) 62,807 6,281
<br />65,401 (274) 65,127 6,513
<br />65,401 (274) 65,127 6,513
<br />67,801 (284) 67,517 6,752
<br />67,801 (284) 67,517 6,752
<br />70,273 (294) 69,979 6,998
<br />70,273 (294) 69,979 6,998
<br />72,819 (305) 72,514 7,251
<br />72,819 (305) 72,514 7,251
<br />75,442 (316) 75,126 7,513
<br />75,442 (316) 75,126 7,513
<br />78,143 (327) 77,816 7,782
<br />78,143 (327) 77,816 7,782
<br />80,925 (339) 80,586 8,059
<br />80,925 (339) 80,586 8,059
<br /> (5,168) 1,229,440 122,944
<br /> (3,531) 839,980 83,998
<br />
<br />Prepared by City of Elk River 8/29/00 Page 1
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