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CITY OF ELK RIVER,MINNESOTA-TIF DISTRICT NO.21
<br /> • BASIC ASSUMPTIONS
<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 Extension Rate -Pay 2001 Estimate 1.194480
<br /> BASE TAX CAPACITY
<br /> Market Tax Rate Tax Year
<br /> PID Value Capacity Payable
<br /> 75-616-0020 763,000 2.4%-3.4% 24,442 2001
<br /> TOTALS 763,000 24,442
<br /> PROJECT VALUE INFORMATION
<br /> Market Val Taxes Total Tax
<br /> Developmi Phase Sq.Ft. Sq.Ft. Per Total Capacity Tax Market
<br /> Type Units Units Sq.Ft./Unit Taxes 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 /> TAX INCREMENT CASH FLOW PROJECTIONS
<br /> Beginning Period Annual Project Captured Semi-Annual State Aud. Semi-Annual Local
<br /> Base Tax Tax Tax Gross Tax Payment Tax Match
<br /> Yrs. Mth. Yr. Capacity Capacity Capacity Increment 0.25% Increment 10.00%
<br /> 0.5 07-01 2002 24,442 97,160 72,718 43,430 (182) 43,248 4,325
<br /> ID
<br /> 1.0 12-01 2002 24,442 97,160 72,718 43,430 (182) 43,248 4,325
<br /> 1.5 07-01 2003 24,442 130,046 105,604 63,071 (264) 62,807 6,281
<br /> 2.0 12-01 2003 24,442 130,046 105,604 63,071 (264) 62,807 6,281
<br /> 2.5 07-01 2004 24,442 133,947 109,505 65,401 (274) 65,127 6,513
<br /> 3.0 12-01 2004 24,442 133,947 109,505 65,401 (274) 65,127 6,513
<br /> 3.5 07-01 2005 24,442 137,966 113,524 67,801 (284) 67,517 6,752
<br /> 4.0 12-01 2005 24,442 137,966 113,524 67,801 (284) 67,517 6,752
<br /> 4.5 07-01 2006 24,442 142,105 117,663 70,273 (294) 69,979 6,998
<br /> 5.0 12-01 2006 24,442 142,105 117,663 70,273 (294) 69,979 6,998
<br /> 5.5 07-01 2007 24,442 146,368 121,926 72,819 (305) 72,514 7,251
<br /> 6.0 12-01 2007 24,442 146,368 121,926 72,819 (305) 72,514 7,251
<br /> 6.5 07-01 2008 24,442 150,759 126,317 75,442 (316) 75,126 7,513
<br /> 7.0 12-01 2008 24,442 150,759 126,317 75,442 (316) 75,126 7,513
<br /> 7.5 07-01 2009 24,442 155,282 130,840 78,143 (327) 77,816 7,782
<br /> 8.0 12-01 2009 24,442 155,282 130,840 78,143 (327) 77,816 7,782
<br /> 8.5 07-01 2010 24,442 159,940 135,498 80,925 (339) 80,586 8,059
<br /> 9.0 12-01 2010 24,442 159,940 135,498 80,925 (339) 80,586 8,059
<br /> TOTALS 1,234,608 (5,168) 1,229,440 122,944
<br /> PRESENT VALUE 843,511 (3,531) 839,980 83,998
<br /> •
<br /> Prepared by City of Elk River 8/9/2000 Page 1
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