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0CITY OF ELK RIVER <br /> TAX REBATE FINANCING PROJECTION WORKSHEET <br /> Project Name: Orluck Industries Expansion/Relocation <br /> TRF Project: 20,000-sq.ft. light manufacturing facility,located on 2.79-acres <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 /> v - ,k;.rds` _ , Z » ,,.a .¢...Z aV <br /> State Class Rate ASSUMPTIONS <br /> Up to $150,000 0.015 Pay 2004 <br /> Over $150,000 0.020 Pay 2004 <br /> Tax Capacity Rate <br /> City Portion 0.43734 Pay 2004 est. <br /> County Portion 0.44363 Pay 2004 est. <br /> School District Portion 0.32709 Pay 2004 est. <br /> State Portion 0.54447 Pay 2004 est. <br /> Other Jurisdictions* 0.03559 Pay 2004 est. <br /> Total Tax Capacity Rate 1.78812 Pay 2004 est. <br /> • <br /> IINP.1T - � It tc ia� y <br /> Land Value $ 1x A ,212700 }0 $1.75/sf for 2.79 Acres <br /> Building Value ;$'E,, 1,000,000 0 3 $50/sf for 20,000-sqft <br /> Total Market Value $,Ma, 1,.212,700 O0 <br /> MAX Years of TRF Project ,` 1 ? 4;- <br /> Property's Total Tax Capacity $ 23,504.00 <br /> Propertypie0fikaa-kliaiiikiiii*iitgvrillAiiiidititiidiizne <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 $ 836.51 <br /> Total Estimated Real Estate Taxes $ 42,027.97 <br /> Total TRF Needed Land Cosh $20'1,520*AtIIRFY4aiite Land Cost= $1.66/sf <br /> City 1/2: $100,760.00 10 <br /> County 1/2: $100,760.00 10 <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 Rail Authority <br /> "Does not include Market Value School Excess Levy Referendum 2003 rate of 0.07597% <br /> FILE:orluckTRF.xls 1/26/2004 <br />