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9/12/2013 <br />Housing TIF <br />Insert Rows PROJECT INFORMATION (Project Tax Capacity) <br />Be ated Taxable Total Taxable Properly <br />Market Value Total Market Tax <br />Area/Phase New Use Per Sq. Ptniit Per Sq. Ft!Unit 5¢FFJlirils Value pass <br />API 95,000 95,1100 100 9.500.000 Rental <br />TOTAL 9,500,000 <br />Project <br />Tax Capacity <br />118,750 <br />118,750 <br />TAX CALCULATIONS <br />New Use <br />I Apt <br />I TOTAL <br />ota isca oca <br />Tax Disparities Tax <br />Capacity Tax Capacity Capacity <br />118,750 0 118,750 <br />116,/5U U 116,/5U <br />oca Isca tate-WI•e <br />Property Disparities Property <br />Taxes Taxes Taxes <br />190,137 0 0 <br />190,13/ U U <br />a et <br />Value <br />Taxes <br />18,032 <br />16,U32 <br />WHAT IS EXCLUDED FROM TIF? <br />Total Property Taxes <br />less State-wide Taxes <br />less Fiscal Disp. Adj. <br />less Market Value Taxes <br />less Base Value Taxes <br />Annual Gross TIF <br />208,169 <br />0 <br />0 <br />(18,032) <br />(10,007) <br />180,129 <br />7 <br />Total <br />Taxes <br />208,169 <br />208,189 <br />Developer receives $.77 on the dollar after <br />deducting 10% admin and OSA Fee <br />Taxes Per <br />Sq. Ft./Unit <br />2,081.69 <br />How TIF is Calculated <br />• Calculated as a whole for a district, NOT parcel <br />by parcel <br />• If current value is less than base value, then NO <br />TIF is generated <br />• If current value is more than base value, then TIF <br />IS generated <br />✓ But only if there is enough overall positive value <br />increase in the district as a whole <br />EHLERS <br />6 <br />