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<br /> EXHIBIT D
<br /> TAX INCREMENT FINANCING DISTRICT NO. 12
<br /> CASH FLOW ANALYSIS
<br /> 1995* 1996** 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007***
<br /> Original Net
<br /> Tax Capacity $ -0- $ -0- $ -0- $ -0- $ -0- $ -0- $ -0- $ -0- $ -0- $ -0- $ -0- $ -0- $ -0-
<br /> Total Net
<br /> Tax Capacity 3,846 27,150 27,150 27,150 27,150 27,150 27,150 27,150 27,150 27,150 27,150 27,150 27,150
<br /> Captured Net
<br /> Tax Capacity $ 3,846 $ 27,150 $27,150 $27,150 $ 27,150 $ 27,150 $ 27,150 $ 27,150 $ 27,150 $ 27,150 $ 27,150 $ 27,150 $ 27,150
<br /> Estimated Tax
<br /> Rate (1) 103.025 103.025 103.025 103.025 103.025 103.025 103.025 103.025 103.025 103.025 103.025 103.025 103.025
<br /> Captured Increment $ 27,971 $ 27,971 $ 27,971 $ 27,971 $ 27,971 $ 27,971 $ 27,971 $ 27,971 $ 27,971 $ 27,971 $ 27,971 $ -0-
<br /> Cumulative Increment $ 55,942 $ 83,913 $111,884 $139,855 $167,826 $195,797 $223,768 $251,739 $279,710 $307,681 $307,681
<br /> (1) Based on a Payable 1993 tax rate. This rate will change for taxes payable in 1994 and is subsequent years; this will result in a change in the
<br /> actual amount of tax increment collected by the City.
<br /> * Taxes will be generated in 1995 but no increment will be collected.
<br /> ** The first year an increment will be collected is 1996 and is based on a finished market value as of January 2, 1995.
<br /> *** The District is decertified on December 31, 2006, and taxes generated in 2007 will be collected by the local taxing jurisdictions.
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