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CITY OF ELK RIVER <br /> TAX REBATE FINANCING PROJECTION WORKSHEET <br /> Project Name: Gradient Technology Expansion/Relocation <br /> TRF Project: 13,000-sq.ft.light manufacturing facility,located on 2.05-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 /> YEAR..209y <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 /> INPUTs.F. <br /> Land Value $ 1°7,300.0(0' Per Co.Assessor 3/23/04 <br /> • <br /> Building Value 109,700 0 Per Co.Assessor 3/23/04 <br /> Total Assessed Market Value 717,000„00 Per Co.Assessor 3/23/04 <br /> Yr <br /> MAX Years of TRF Project 10, <br /> Property's Total Tax Capacity $ 13,590.00 <br /> Property; y 4e li d0 wr% . //;rlual Estimate. <br /> City Portion $ 5,943.45 <br /> County Portion $ 6,028.93 <br /> School District Portion $ 4,445.15 <br /> State Portion $ 7,399.35 <br /> Other Jurisdictions $ 483.67 <br /> Total Estimated Real Estate Taxes $ 24,300.55 <br /> Total TRF Neede and'Cost '$143,770, ' F _ sem, Land Cost= 1.61/sf <br /> City 1/2: $71,885.00 12 <br /> County 1/2: $71,885.00 12 <br /> *Amount of abatement will vary depending on market value,tax rates,class rates,construction schedule and inflation on MV. <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:gradtechTRF.xls 3/23/2004 <br /> • <br />