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Exhibit II <br /> <br />Baker Tilly Municipal Advisors, LLC Page 14 <br /> <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 ID: 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% PV Amount $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