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Exhibit 11 <br />Assumptions Report <br />City of Elk River, Minnesota <br />Tax Increment Financing (Housing) District No. 25 <br />Jackson Hills 40 Unit Housing Development <br />Draft TIF Plan Exhibits based on $3.31M EMV (40 units) <br />Type of Tax Increment Financing District Redevelopment <br />Maximum Duration of TIF District 25 years from 1st increment <br />Projected Certification Request Date 06/30/18 <br />Actual Certification Request Date <br />Decertification Date 12/31/35 (15 Years of Increment) <br />2017/2018 <br />Base Estimated Market Value $71,900 <br />Parcel ID 75-134-2303 <br />Original Net Tax Capacity <br />$899 <br />Assessment/Collection Year <br />2018/2019 <br />2019/2020 2020/2021 <br />2021/2022 <br />Base Estimated Market Value $71,900 <br />$71,900 $71,900 <br />$71,900 <br />Increase in Estimated Market Value 0 <br />0 3,310,000 <br />3,310,000 <br />Total Estimated Market Value 71,900 <br />71,900 3,381,900 <br />3,381,900 <br />Total Net Tax Capacity $899 <br />$899 $42,274 <br />$42,274 <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 <br />Note (Pay -As -You -Go) <br />Bonds Dated NA <br />Note Dated <br />08/01/18 <br />Bond Issue @ 0.00% (NIC) NA <br />Note Rate <br />4.50% <br />Eligible Project Costs NA <br />Note Amount <br />$480,523 <br />Present Value Date & Rate 08/01/18 4.50% <br />Present Value Amount <br />$506,600 <br />Notes <br />Projections assume no future changes to tax and classification rates. No MV inflator was assumed. <br />Projections are based on Pay 2017 Total Tax Rate provided by County. <br />Base values are existing land values for one parcel (75-134-2303) <br />Total New Taxable Value based on 40 units at $82,750/unit <br />SPRINGSTED <br />Page 15 <br />