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Exhibit II <br /> <br />SPRINGSTED Page 15 <br /> <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 />Updated 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 $61,100 <br />Parcel ID 75-134-2303 <br />Original Net Tax Capacity $764 <br />Assessment/Collection Year <br />2018/2019 2019/2020 2020/2021 2021/2022 <br />Base Estimated Market Value $61,100 $61,100 $61,100 $61,100 <br />Increase in Estimated Market Value 0 0 3,248,900 3,248,900 <br />Total Estimated Market Value 61,100 61,100 3,310,000 3,310,000 <br />Total Net Tax Capacity $764 $764 $41,375 $41,375 <br />City of Elk River 46.011% <br />Sherburne County 49.356% <br />ISD #728 36.137% <br />Other 4.269% <br />Local Tax Capacity Rate 135.773% Payable 2018 <br />Frozen Tax Rate 135.773% <br />Fiscal Disparities Contribution From TIF District NA <br />Administrative Retainage Percent (maximum = 10%) 10.00% 10.00% <br />Pooling Percent 0.00% 0.00% <br />Bonds Note (Pay-As-You-Go) <br />Bonds Dated NA Note Dated 08/01/18 <br />Bond Issue @ 0.00% (NIC) NA Note Rate 4.50% <br />Eligible Project Costs NA Note Amount $480,523 <br />Present Value Date & Rate 08/01/18 4.50% Present Value Amount $489,858 <br />Notes <br />Projections assume no future changes to tax and classification rates. No MV inflator was assumed. <br />Projections are based on Pay 2018 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