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City of Ramsey
<br />October 20, 2010
<br />Page 5
<br />COR Development Area - City Owned Properties:
<br />For this portion of the preliminary projections we utilized the value assumptions provided by the City, in addition to
<br />information provided by Anoka County for the base value information. We assumed a 10 -year build -out period with
<br />construction starting between 2010 and 2014 depending on project type. It is important to note for the TIF
<br />calculations that these parcels are currently tax - exempt. Because they are tax exempt, the base value of the parcels
<br />will not be set until the time the parcels are sold to a private party and become taxable. As a result, the base value of
<br />these parcels will not realize land value growth, and therefore the TIF revenue projections are based solely on the
<br />incremental growth created by the building developments. The chart below shows the valuation assumptions used in
<br />these projections. The TIF valuation is the net growth from the projected land value (used for the future base value
<br />calculation) and the total valuation. For the mixed -use district we assumed a 50% split between commercial and
<br />rental property uses. It should also be noted that Housing areas H4 & H5 are located outside of the boundaries of
<br />the TIF District.
<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 />R1 Large Flexible Retail Space
<br />R2 Small Retail Space
<br />R3 Large Flexible Retail Space
<br />R4 Large Flexible Retail Space
<br />R5 Med. Retail Adjacent to MXD
<br />R6 Small Retail Adj to Sunwood
<br />R7 Small Retail Adj to Sunwood
<br />R8 Small Retail Adj to Sunwood
<br />R9 Small Retail Adj to Sunwood
<br />R10 Small Retail Adj to Sunwood
<br />R11 Small Retail Adj to Sunwood
<br />R12 Small Retail Adj to Sunwood
<br />R13 Small Retail Adj to Sunwood
<br />R14 Small Retail Adj to Sunwood
<br />R15 Small Retail Adj to Sunwood
<br />R16 Ramp Liner Space
<br />R17 Ramp Liner Space
<br />R18 Lakeside Restaurant Parcel
<br />R19 Lakeside Restaurant Parcel
<br />R120 Lakeside Restaurant Parcel
<br />(Mixed Use District
<br />M1 NW Quadrant
<br />M2 SW Quadrant
<br />M3 NE Quadrant
<br />M4 SE Quadrant
<br />M5 East Parcel
<br />'Business District
<br />B1 Large Business Parcel
<br />B2 Corner - Ramsey Blvd Frontage
<br />B3 Ramsey Blvd Frontage
<br />B4 Ramsey Blvd Frontage
<br />H1 High Density Res adj. to Lake
<br />H2 Lifecycle Housing
<br />H3 SW quad Ramsey /Bunker
<br />H4 SF Site north of Bunker
<br />H5 SF Triangle Site North of Bunker
<br />21.11 5,516,934 $ 42,744,840 $ 37,227,906
<br />4.78 2,500,116 $ 9,685,367 $ 7,185,251
<br />11.98 3,131,292 $ 24,261,043 $ 21,129,751
<br />11.28 2,947,122 $ 22,834,106 $ 19,886,984
<br />5.49 2,867,964 $ 11,110,398 $ 8,242,434
<br />0.81 701,720 $ 1,631,064 $ 929,344
<br />0.69 544,374 $ 1,405,925 $ 861,551
<br />0.69 482,704 $ 1,402,485 $ 919,781
<br />0.69 358,416 $ 1,388,492 $ 1,030,076
<br />0.51 268,860 $ 1,041,555 $ 772,695
<br />2.47 1,288,788 $ 4,992,722 $ 3,703,934
<br />2.13 1,113,732 $ 4,314,561 $ 3,200,829
<br />1.35 705,912 $ 2,734,680 $ 2,028,768
<br />1.36 713,172 $ 2,762,805 $ 2,049,633
<br />1.37 1,786,710 $ 2,768,662 $ 981,952
<br />0.70 613,100 $ 1,425,077 $ 811,977
<br />1.02 887,480 $ 2,062,841 $ 1,175,361
<br />0.26 225,000 $ 522,986 $ 297,986
<br />0.27 232,040 $ 539,349 $ 307,309
<br />0.27 238,700 $ 554,830 $ 316,130
<br />69.23 27,124,136 $ 140,183,786 $ 113,059,650
<br />Acres Land Value Valuation TIF Value
<br />2.86 2,490,920 $ 11 ,579,690 $ 9,088,770
<br />2.72 2,366,020 $ 10,999,060 $ 8,633,040
<br />1.93 1,680,120 $ 7,810,475 $ 6,130,355
<br />1.07 932,880 $ 4,336,736 $ 3,403,856
<br />1.70 890,040 $ 6,895,971 $ 6,005,931
<br />10.28 8,359,980 $ 41,621,932 $ 33,261,952
<br />Acres Land Value
<br />7.60 1,984,926
<br />3.00 2,357,568
<br />1.70 677,151
<br />2.70 1,057,968
<br />15.00 6,077,613
<br />Valuation
<br />$ 12,540,000
<br />$ 4,950,000
<br />$ 2,805,000
<br />$ 4,455,000
<br />$ 24,750,000
<br />3.49
<br />7.17
<br />5.34
<br />0.00
<br />0.00
<br />16.01
<br />1,366,830
<br />2,500,272
<br />1,396,884
<br />$ 20,918,733
<br />$ 27,981,694
<br />$ 16,034,022
<br />$ -
<br />$
<br />5,263,986 $ 64,934,449
<br />TIF Value
<br />$ 10,555,074
<br />$ 2,592,432
<br />$ 2,127,849
<br />$ 3,397,032
<br />$ 18,672,387
<br />$ 19,551,903
<br />$ 25,481,422
<br />$ 14,637,138
<br />$ 59,670,463
<br />
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