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Exhibit IV <br />Assumptions Report <br />City of Ramsey, Minnesota <br />Tax Increment Financing (Redevelopment) District No. 14 <br />The COR Project <br />Scenario 2 - Without FD <br />Type of Tax Increment Financing District <br />Maximum Duration of TIF District <br />Projected Certification Request Date <br />Decertification Date <br />Base Estimated Market Value <br />Original Net Tax Capacity <br />Base Estimated Market Value <br />Increase in Estimated Market Value <br />Total Estimated Market Value <br />Total Net Tax Capacity <br />City of Ramsey <br />Anoka Countyt <br />ISD #1 <br />Other <br />Local Tax Capacity Rate <br />2011/2012 <br />$86,639, 997 <br />15, 982, 624 <br />Fiscal Disparities Contribution From TIF District <br />Administrative Retainage Percent (maximum = 10%) <br />Pooling Percent <br />Redevelopment <br />25 years from 1st increment <br />06/30/11 <br />12/31/37 (26 Years of Increment) <br />2010/2011 <br />$85,278,600 <br />$1,391,239 <br />Assessment/Collection Year <br />2012/2013 <br />$88,002,393 <br />31,965,249 <br />37.811% <br />35.189% <br />19.939% <br />6.627% <br />99.566% 2009/2010 <br />2013/2014 <br />$89,972,551 <br />49,815,112 <br />139,787,663 <br />41.9115% <br />10.00% <br />0.00% <br />2014/2015 <br />$91,942, 709 <br />67,664,975 <br />159,607,684 <br />Bonds <br />Bonds Dated <br />Bond Issue @ 0.00% (NIC) <br />Eligible Project Costs <br />Present Value Date & Rate <br />06/30/11 <br />$0 <br />$0 <br />Note (Pay -As -You -Go) <br />Note Dated 06/30/11 <br />Note Rate 6.00% <br />Note Amount $61,282,863 <br />06/30/11 6.00% <br />Notes <br />Assumptions include no future changes to the property tax system, class rates and tax rate. <br />The assumptions include the use of a 2% annual market value inflator starting in taxes payable 2018. <br />SPRINGSTED <br />