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City of Ramsey
<br />October 20, 2010
<br />Page 2
<br />Build -Out Projections:
<br />Private Residential Development:
<br />We projected the remaining build -out for the privately owned residential portion of the COR Development area. Our
<br />projections were created using the existing building valuations in the area, and parcel information from Anoka County
<br />indicating which parcels are currently undeveloped. Based on this information we projected an additional 155
<br />residential units will be constructed within this area and that the average valuation per home will be $130,654, which
<br />is the current average value for the homes that have already been constructed in the area. The preliminary revenue
<br />projections include a 15 -year build -out for the remaining homes. The chart below shows the current base values, the
<br />projected growth values, and the projections for future Tax Capacity.
<br />*The average valuation per home assumption was prepared using current value information as provided by Anoka
<br />County. Additionally, a 2% annual market value inflator has been included starting in 2018, as directed by City Staff.
<br />Private Residential Portion
<br />Base Market Value
<br />Land Building Total
<br />3,738,000 14,633,300 18,371,300
<br />Post Development Market Value
<br />Land Building Total
<br />3,738,000 34,884,742 38,622,742
<br />Base Tax Capacity
<br />Total
<br />178,393
<br />Post Dev Tax Cap.
<br />Total
<br />386,227
<br />1 70 951 dd7 (;rnwth 1 707 Rid
<br />Build -Out Schedule: 15 Years, starting with construction in 2010
<br />Year Base TC Total TC Incremental Growth
<br />1 - 2012 178,393 192,249 13,856
<br />2 - 2013 178,393 206,104 27,711
<br />3 - 2014 178,393 219,960 41,567
<br />4 - 2015 178,393 233,816 55,423
<br />5 - 2016 178,393 247,671 69,278
<br />6 - 2017 178,393 261,527 83,134
<br />7 - 2018 178,393 280,613 102,220
<br />8 - 2019 178,393 300,081 121,688
<br />9 - 2020 178,393 319,938 141,545
<br />10 - 2021 178,393 340,192 161,799
<br />11 - 2022 178,393 360,852 182,459
<br />12 - 2023 178,393 381,925 203,532
<br />13 - 2024 178,393 403,419 225,026
<br />14 - 2025 178,393 425,343 246,950
<br />15 - 2026 178,393 447,705 269,312
<br />16 - 2027 178,393 456,659 278,266
<br />17 - 2028 178,393 465,792 287,399
<br />18 - 2029 178,393 475,108 296,715
<br />19 - 2030 178,393 484,611 306,218
<br />20 - 2031 178,393 494,303 315,910
<br />21 - 2032 178,393 504,189 325,796
<br />22 - 2033 178,393 514,273 335,880
<br />23 - 2034 178,393 524,558 346,165
<br />24 - 2035 178,393 535,049 356,656
<br />25 - 2036 178,393 545,750 367,357
<br />26 - 2037 178,393 556,665 378,272
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