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Exhibit 11 <br /> Assumptions Report <br /> City of Elk River,Minnesota <br /> Tax Increment Financing (Housing) District No.28 <br /> Jackson Hills Phase 2 Housing <br /> Draft TIF Plan Exhibits: Based on 44 Units Valued at$6.3M <br /> Type of Tax Increment Financing District Housing <br /> Maximum Duration of TIF District 25 years from 1st increment <br /> Assume 1st Increment is 2024 <br /> Projected Certification Request Date 06/30/22 <br /> Decertification Date 12/31/39 (16 Years of Increment) <br /> 2022/2023 <br /> Base Estimated Market Value" 233,700 <br /> Parcel I D: 75-134-2305 <br /> .Values provided by County <br /> Original Net Tax Capacity 2,921 <br /> Assessment/Collection Year <br /> 2022/2023 2023/2024 2024/2025 2025/2026 <br /> Base Estimated Market Value $233,700 $233,700 $233,700 $233,700 <br /> Estimated Increase in Value-New Construction 0 3,546,300 6,129,300 6,192,930 <br /> Total Estimated Market Value 233,700 3,780,000 6,363,000 6,426,630 <br /> Total Net Tax Capacity $2,921 $47,250 $79,538 $80,333 <br /> Payable 2021 <br /> City of Elk River 44.556% <br /> Sherburne County 45.835% <br /> ISD 728 31.717% <br /> Other- 2.328% <br /> Local Tax Capacity Rate 124.436% <br /> Estimated Frozen Tax Capacity Rate 124.436% <br /> Fiscal Disparities Contribution From TIF District NA <br /> Administrative Retainage Percent(maximum = 10%) 10.00% <br /> Pooling Percent 0.00% <br /> Bonds Projected PayGO Note <br /> Bonds Dated TBD Loan Dated 08/01/22 <br /> Bond Issue @ 0.00%(NIC) TBD Loan Rate 4.00% <br /> Eligible Project Costs TBD Loan Amount $850,000 <br /> Present Value Date&Rate 08/01/22 4.00% PVAmount $968,279 <br /> Notes <br /> No adjustments made to future class rates or tax rates <br /> Includes 1%annual market value inflator to allow for future growth <br /> Total taxable value based on$143,182/unit for new construction <br /> Baker Tilly Municipal Advisors, LLC Page 14 <br />