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Exhibit V
<br />Annual
<br />Period
<br />Ending
<br />(1)
<br />Total
<br />Net Tax
<br />Capacity
<br />(2)
<br />Less:
<br />Original
<br />Net Tax
<br />Capacity
<br />(3)
<br />Projected Tax Increment Report
<br />City of Ramsey, Minnesota
<br />Tax Increment Financing (Redevelopment) District No. 14
<br />The COR Project
<br />Scenario 2 - Without FD
<br />Less:
<br />Fiscal
<br />Disp. @
<br />0.0000%
<br />(4)
<br />Retained
<br />Captured
<br />Net Tax
<br />Capacity
<br />(5)
<br />Times:
<br />Tax
<br />Capacity
<br />Rate
<br />(6)
<br />Annual
<br />Gross Tax
<br />Increment
<br />(7)
<br />ess:
<br />State Aud.
<br />Deduction
<br />0.360%
<br />(8)
<br />Less:
<br />Admin.
<br />Retainage
<br />10.00%
<br />(9)
<br />12/31/11 1,391,239 1,391,239
<br />12/31 / 12 1,736,081 1,391,239
<br />12/31 / 13 1,902,559 1,409,713
<br />12/31/14 2,224,634 1,440,042
<br />12/31/15 2,428,157 1,470,371
<br />12/31/16 3,383,782 1,553,449
<br />12/31/17 3,811,925 1,636,526
<br />12/31/18 4,674,466 1,719,604
<br />12/31/19 5,570,786 1,802,681
<br />12/31/20 6,485,033 1,885,759
<br />12/31/21 7,417,565 1,968,836
<br />12/31/22 8,267,499 2,033,439
<br />12/31/23 9,134,432 2,098,043
<br />12/31/24 9,981,659 2,150,791
<br />12/31/25 10,845,830 2,203,540
<br />12/31/26 11,502,666 2,203,540
<br />12/31/27 12,107,408 2,203,540
<br />12/31/28 12,349,556 2,203,540
<br />12/31/29 12,596,547 2,203,540
<br />12/31/30 12,848,478 2,203,540
<br />12/31/31 13,105,448 2,203,540
<br />12/31/32 13,367,557 2,203,540
<br />12/31/33 13,634,908 2,203,540
<br />12/31/34 13,907,606 2,203,540
<br />12/31/35 14,185,758 2,203,540
<br />12/31/36 14,469,473 2,203,540
<br />12/31/37 14,758,863 2,203,540
<br />12/31/38 0 0
<br />12/31/39 0 0
<br />0 0 99.566%
<br />0 344,842 99.566%
<br />0 492,846 99.566%
<br />0 784,592 ='; 99.566%
<br />0 957,786• 99.566%
<br />0 1,830,334 99.566%
<br />0 2,175,398 99.566%
<br />0 { '2,954,862 99.566%
<br />3,768,105 99.566%
<br />4,599,274 99.566%
<br />5,448,729 99.566%
<br />6,234,060 99.566%
<br />,7,036,389 99.566%
<br />-7,830,868 99.566%
<br />8,642,291 99.566%
<br />_ 9,299,127 99.566%
<br />a9,903,869 99.566%
<br />0 10,146,017 99.566%
<br />0 10,393,008 99.566%
<br />0 10,644,939 99.566%
<br />0 10,901,908 99.566%
<br />0 11,164,017 99.566%
<br />0 11,431,368 99.566%
<br />11,704,067 99.566%
<br />11,982,219 99.566%
<br />12,265,934 99.566%
<br />12,555,323 99.566%
<br />0 0 99.566%
<br />0 0 99.566%
<br />0
<br />343,345
<br />490,707
<br />781,187
<br />953,629
<br />1,822,390
<br />2,165, 957
<br />2,942,038
<br />3,751,752
<br />4,579,314
<br />5,425,081
<br />6,207,004
<br />7,005,851
<br />7,796,882
<br />8,604,783
<br />9,258,768
<br />9,860,886
<br />10,101, 983
<br />10,347,902
<br />10,598,740
<br />10,854,594
<br />11,115, 566
<br />11,381,756
<br />11,653,271
<br />11,930,216
<br />12,212,700
<br />12,500,833
<br />0
<br />0
<br />0 0
<br />1,236 34,211
<br />1,767 48,894
<br />2,812 77,838
<br />3,433 95,020
<br />6,561 181,583
<br />7,797 215,816
<br />10,591 293,145
<br />13,506 373,825
<br />16,486 456,283
<br />19,530 540,555
<br />22,345 618,466
<br />25,221 698,063
<br />28,069 776,881
<br />30,977 857,381
<br />33,332 922,544
<br />35,499 982,539
<br />36,367 1,006,562
<br />37,252 1,031,065
<br />38,155 1,056,059
<br />39,077 1,081,552
<br />40,016 1,107, 555
<br />40,974 1,134, 078
<br />41,952 1,161,132
<br />42,949 1,188, 727
<br />43,966 1,216,873
<br />45,003 1,245,583
<br />0 0
<br />0 0
<br />$184,687,135
<br />$664,873 $18,402,230
<br />Annual
<br />Net
<br />Revenue
<br />(10)
<br />P.V.
<br />Annual
<br />Net Rev. To
<br />06/30/11
<br />6.00%
<br />0
<br />0
<br />307,898
<br />286,223
<br />440,046
<br />385,913
<br />700,537
<br />579,584
<br />855,176
<br />667,475
<br />1,634,246
<br />1,203,348
<br />1,942,344
<br />1,349,255
<br />2,638,302
<br />1,728,967
<br />3,364,421
<br />2,080,016
<br />4,106,545
<br />2,395,119
<br />4,864,996
<br />2,676,869
<br />5,566,193
<br />2,889,329
<br />6,282,567
<br />3,076,593
<br />6,991,932
<br />3,230,161
<br />7,716,425
<br />3,363,081
<br />8,302,892
<br />3,413,852
<br />8,842,848
<br />3,430,059
<br />9,059,054
<br />3,315,022
<br />9,279,585
<br />3,203,511
<br />9,504,526
<br />3,095,439
<br />9,733,965
<br />2,990,720
<br />9,967,995
<br />2,889,268
<br />10,206,704
<br />2,790,999
<br />10,450,187
<br />2,695,829
<br />10,698,540
<br />2,603,676
<br />10,951,861
<br />2,514,459
<br />11,210,247
<br />2,428,096
<br />0
<br />0
<br />0
<br />0
<br />$165,620,032
<br />$61,282,863
<br />SPRINGSTED
<br />
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