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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 1 st increment <br />Projected Certification Request Date <br />11/01/20 <br />Decertification Date <br />12/31/30 (9 Years of Increment) <br />2020/2021 <br />Base Estimated Market Value <br />$378,100 <br />Original Net Tax Capacity' <br />$6,812 <br />Assessment/Collection Year <br />2020/2021 <br />2021/2022 2022/2023 <br />2023/2024 <br />Base Estimated Market Value <br />$378,100 <br />$378,100 $378,100 <br />$378,100 <br />Increase in Estimated Market Value <br />0 <br />971,000 1,011,473 <br />1,053,160 <br />Total Estimated Market Value <br />378,100 <br />1,349,100 1,389,573 <br />1,431,260 <br />Total Net Tax Capacity <br />$6,812 <br />$26,232 $27,041 <br />$27,875 <br />City of Elk River <br />46.241 % <br />Sherburne County <br />47.426% <br />I S D #728 <br />34.371 % <br />Other <br />2.533% <br />Local Tax Capacity Rate <br />130.571 % 2019/2020 <br />Fiscal Disparities Contribution From TIF District <br />NA <br />Administrative Retainage Percent (maximum = 10%) <br />10.00% <br />Pooling Percent <br />0.00% <br />Bonds <br />PayGO Note <br />Bonds Dated NA <br />Note Dated <br />02/01/21 <br />Bond Issue @ 0.00% (NIC) NA <br />Note Rate <br />4.00% <br />Eligible Project Costs NA <br />Note Amount <br />$190,000 <br />Present Value Date & Rate 02/01/21 <br />4.00% <br />Present Value Amount <br />$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 <br />