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Exhibit V <br /> <br /> <br /> <br />Market Value Analysis Report <br />City of Elk River, Minnesota <br />Tax Increment Financing (Economic Development) District No. 29 <br />Heritage Millwork Inc Proposed Industrial Project <br />Draft TIF Plan Exhibits based on Phase 1 and 2 (150k SF) $11.2M <br />Assumptions <br /> Present Value Date 06/30/24 <br /> P.V. Rate - Gross T.I.3.50% <br />Increase in EMV With TIF District $13,770,718 <br />Less: P.V of Gross Tax Increment 1,613,824 <br />Subtotal $12,156,894 <br />Less: Increase in EMV Without TIF 0 <br />Difference $12,156,894 <br />Annual Present <br />Gross Tax Value @ <br />Year Increment 3.50% <br />1 2026 80,374 75,030 <br />2 2027 165,641 149,399 <br />3 2028 230,889 201,206 <br />4 2029 237,888 200,295 <br />5 2030 245,097 199,387 <br />6 2031 252,522 198,480 <br />7 2032 260,170 197,576 <br />8 2033 268,048 196,675 <br />9 2034 276,162 195,776 <br />$2,016,791 $1,613,824 <br />Page 393 of 464