Laserfiche WebLink
Exhibit 11 <br />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 <br />Decertification Date <br />Base Estimated Market Value <br />Original Net Tax Capacity * <br />Base Estimated Market Value <br />Increase in Estimated Market Value <br />Total Estimated Market Value <br />Total Net Tax Capacity <br />11 /01 /20 <br />12/31/30 (9 Years of Increment) <br />2020/2021 <br />$378,100 <br />$6, 812 <br />Assess ment/Collection Year <br />2020/2021 2021 /2022 <br />2022/2023 <br />2023/2024 <br />$378,100 $378,100 <br />$378,100 <br />$378,100 <br />0 971,000 <br />1,011,473 <br />1,053,160 <br />378,100 1,349,100 <br />1,389,573 <br />1,431,260 <br />$6,812 $26,232 <br />City of Elk River <br />46.241% <br />Sherburne County <br />47.426% <br />ISD #728 <br />34.371% <br />Other <br />2.533% <br />Local Tax Capacity Rate <br />$27, 041 $27, 875 <br />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 />