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City of Ramsey
<br />October 19, 2010
<br />Page 4
<br />Private Commercial Development - Outside of COR Areas (TIF Areas A, B, C, D & E):
<br />For the preliminary projections consisting of private commercial development outside COR areas, we utilized the
<br />value assumptions provided by the City, in addition to information provided by Anoka County for the base value
<br />information. We assumed a 10 -year build -out period with construction starting in 2016. The charts below show the
<br />valuation assumptions along with the current base values, the projected growth values, and the projections for future
<br />Tax Capacity.
<br />*The post development value assumptions were prepared using value /square foot information provided by City Staff,
<br />including the use of a 2% annual market value inflator starting in 2018.
<br />Private Commercial Portion (TIF Areas A, B, C,
<br />D, E)
<br />Base Market Value
<br />A
<br />Acquired and added to The CoR
<br />15.00
<br />$
<br />5,227,200
<br />$
<br />16,200,000
<br />$
<br />16,200,000
<br />B
<br />NW quad of new Armstrong Overpass
<br />60.40
<br />$
<br />21,048,192
<br />$
<br />65,232,000
<br />$
<br />65,232,000
<br />C
<br />600' Strip south of 10
<br />64.30
<br />$
<br />22,407,264
<br />$
<br />69,444,000
<br />$
<br />69,444,000
<br />D
<br />Church Parcel
<br />32.00
<br />$
<br />11,151,360
<br />$
<br />34,560,000
<br />$
<br />34,560,000
<br />E
<br />Diamonds Parcel
<br />40.20
<br />$
<br />14,008,896
<br />$
<br />43,416,000
<br />$
<br />43,416,000
<br />671,877
<br />671,877
<br />211.90
<br />$
<br />73,842,912
<br />$ 228,852,000
<br />$
<br />228,852,000
<br />Private Commercial Portion (TIF Areas A, B, C,
<br />D, E)
<br />Base Market Value
<br />Base Tax Capacity
<br />Total
<br />Land Building Total
<br />21,363,200
<br />14,106,000
<br />35,469,200
<br />671,877
<br />Post Development Market Value
<br />Post Dev Tax Cap.
<br />Total
<br />Land Building Total
<br />73,842,912
<br />155,009,088
<br />228,852,000
<br />4,573,290
<br />T' 193,382,8001 Growth
<br />1 3,901,414
<br />Build -Out Schedule:
<br />10 - years, starting with construction in 2016
<br />Year
<br />Base TC
<br />Total TC
<br />Incremental Growth
<br />1 -2012
<br />671,877
<br />671,877
<br />0
<br />2-2013
<br />671,877
<br />671,877
<br />0
<br />3-2014
<br />671,877
<br />671,877
<br />0
<br />4-2015
<br />671,877
<br />671,877
<br />0
<br />5-2016
<br />671,877
<br />671,877
<br />0
<br />6-2017
<br />671,877
<br />671,877
<br />0
<br />7-2018
<br />671,877
<br />1,062,018
<br />390,141
<br />8-2019
<br />671,877
<br />1,473,400
<br />801,523
<br />9-2020
<br />671,877
<br />1,893,009
<br />1,221,132
<br />10-2021
<br />671,877
<br />2,321,010
<br />1,649,134
<br />11
<br />-2022
<br />671,877
<br />2,757,572
<br />2,085,695
<br />12-2023
<br />671,877
<br />3,202,865
<br />2,530,988
<br />13-2024
<br />671,877
<br />3,657,063
<br />2,985,187
<br />14-2025
<br />671,877
<br />4,120,346
<br />3,448,470
<br />15-2026
<br />671,877
<br />4,592,894
<br />3,921,018
<br />16-2027
<br />671,877
<br />5,074,894
<br />4,403,017
<br />17-2028
<br />671,877
<br />5,176,391
<br />4,504,515
<br />18-2029
<br />671,877
<br />5,279,919
<br />4,608,043
<br />19-2030
<br />671,877
<br />5,385,518
<br />4,713,641
<br />20-2031
<br />671,877
<br />5,493,228
<br />4,821,351
<br />21
<br />-2032
<br />671,877
<br />5,603,093
<br />4,931,216
<br />22-2033
<br />671,877
<br />5,715,154
<br />5,043,278
<br />23-2034
<br />671,877
<br />5,829,457
<br />5,157,581
<br />24-2035
<br />671,877
<br />5,946,047
<br />5,274,170
<br />25-2036
<br />671,877
<br />6,064,968
<br />5,393,091
<br />26-2037
<br />671,877
<br />6,186,267
<br />5,514,390
<br />
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