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Assumptions Report <br />City of Elk River, Minnesota <br />Tax Increment Financing (Economic Development) District No. 26 <br />Shoot Steel, INC <br />Draft TIF Plan Exhibits <br />Type of Tax Increment Financing District Economic Development <br />Maximum Duration of TIF District 8 years from 1st increment <br />Projected Certification Request Date 11/01/20 <br />Decertification Date 12/31/30 (9 Years of Increment) <br />2020/2021 <br />Base Estimated Market Value * $378,100 <br />Original Net Tax Capacity * $6,812 <br />Assessment/Collection Year <br />2020/2021 2021/2022 2022/2023 2023/2024 <br />Base Estimated Market Value $378,100 $378,100 $378,100 $378,100 <br />Increase in Estimated Market Value 0 971,000 1,011,473 1,053,160 <br />Total Estimated Market Value 378,100 1,349,100 1,389,573 1,431,260 <br />Total Net Tax Capacity $6,812 $26,232 $27,041 $27,875 <br />City of Elk River 46.241% <br />Sherburne County 47.426% <br />ISD #728 34.371% <br />Other 2.533% <br />Local Tax Capacity Rate 130.571% 2019/2020 <br />Fiscal Disparities Contribution From TIF District NA <br />Administrative Retainage Percent (maximum = 10%) 10.00% <br />Pooling Percent 0.00% <br />Bonds PayGO Note <br />Bonds Dated NA Note Dated 02/01/21 <br />Bond Issue @ 0.00% (NIC) NA Note Rate 4.00% <br />Eligible Project Costs NA Note Amount $190,000 <br />Present Value Date & Rate 02/01/21 4.00% Present Value Amount $192,196 <br />Notes <br />Assumptions assume no change to future tax rates, class rates, and a 3% annual MV inflator is assumed <br />Calculations include payable 2020 final tax capacity rates <br />Total EMV upon completion based on value estimates for new business <br />* Base EMV of property as provided by Sherburne County property taxes <br />Prepared by: Baker Tilly (printed on 9/11/2020 at 11:46 AM) Elk River ED TIF 26 draft TIF Plan Exhibits 091120Assumptions