Laserfiche WebLink
Exhibit 11 <br />Assumptions Report <br />City of Elk River, Minnesota <br />Tax Increment Financing (Redevelopment) District <br />The Truck Shop Redevelopment Project <br />Draft TIF Plan Exhibits <br />Type of Tax Increment Financing District Redevelopment <br />Maximum Duration of TIF District 25 years from 1st increment <br />Projected Certification Request Date 12/30/17 <br />Actual Certification Request Date <br />Decertification Date 12/31/45 (26 Years of Increment) <br />Base Estimated Market Value $1,352,500 <br />Original Net Tax Capacity $20,874 <br />Base Estimated Market Value <br />Increase in Estimated Market Value <br />Total Estimated Market Value <br />Total Net Tax Capacity <br />Assess ment/Collection Year <br />2017/2018 2018/2019 2019/2020 2020/2021 <br />$1,352,500 <br />$1,352,500 <br />$1,352,500 <br />$1,352,500 <br />$0 <br />$0 <br />$704,879 <br />$766,600 <br />Local Tax Capacity Rate <br />137.819% Payable 2017 <br />Frozen Tax Rate <br />137.819% <br />$1,352,500 <br />$1,352,500 <br />$2,057,379 <br />$2,119,100 <br />$20,874 $20,874 $40,398 $41,632 <br />City of Elk River <br />46.193% <br />Sherburne County <br />50.458% <br />ISD #728 <br />36.659% <br />Other <br />4.509% <br />Local Tax Capacity Rate <br />137.819% Payable 2017 <br />Frozen Tax Rate <br />137.819% <br />Fiscal Disparities Contribution From TIF District <br />NA <br />Administrative Retainage Percent (maximum = 10 %) <br />10.00% 10.00% <br />Pooling Percent <br />0.00% 0.00% <br />Bonds Interfund Loan <br />Bonds Dated NA Note Dated 02/01/18 <br />Bond Issue @ 0.00% (NIC) NA Note Rate 4.00% <br />Eligible Project Costs NA Note Amount $667,000 <br />Present Value Date & Rate 02/01/18 4.00% <br />Notes <br />Projections assume no future changes to tax and classification rates with 3% annual MV inflator <br />Projections are based on Pay2017 Total Tax Rate provided by County. <br />Base values are existing land and building values <br />SPRINGSTED Page 16 <br />