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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 <br />Maximum Duration of TIF District <br />Projected Certification Request Date <br />Decertification Date <br />Base Estimated Market Value" <br />Parcel I D : 75-134-2305 <br />. Values provided by County <br />Original Net Tax Capacity <br />Housing <br />25 years from 1st increment <br />Assume 1st Increment is 2024 <br />06/30/22 <br />12/31/39 (16Years of Increment) <br />211, /UU <br />2,921 <br />Assessment/Collection Year <br />2022/2023 2023/2024 2024/2025 2025/2026 <br />Base Estimated Market Value $233,700 <br />$233,700 <br />$233,700 <br />$233,700 <br />Estimated Increase in Value - New Construction 0 <br />3,546,300 <br />6,129,300 <br />6,192,930 <br />Total Estimated Market Value 233,700 <br />3,780,000 <br />6,363,000 <br />6,426,630 <br />Total Net Tax Capacity $2,921 <br />$47,250 <br />$79,538 <br />$80,333 <br />Payable 2021 <br />City of Elk River <br />44.556% <br />Sherburne County <br />45.835% <br />ISD 728 <br />31.717% <br />Other - <br />2.328% <br />Local Tax Capacity Rate <br />124.436% <br />Estimated Frozen Tax Capacity Rate <br />124.436% <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 />Projected PayGO Note <br />Bonds Dated TBD <br />Loan Dated <br />08/01/22 <br />Bond Issue @ 0.00% (NIC) TBD <br />Loan Rate <br />4.00% <br />Eligible Project Costs TBD <br />Loan Amount <br />$850,000 <br />Present Value Date & Rate 08/01/22 <br />4.00% PVAmount <br />$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 />