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SPRINGSTED
<br />Market Value Analysis Report
<br />City of Ramsey, Minnesota
<br />Tax Increment Financing (Redevelopment) District No. 14
<br />The COR Project
<br />Scenario 2 - Without FD
<br />Assumptions
<br />Present Value Date
<br />P.V. Rate - Gross T.I.
<br />06/30/11
<br />6.00%
<br />Annual Present
<br />1 2012 343,345 319,174
<br />2 2013 490,707 430,342
<br />3 2014 781,187 646,310
<br />4 2015 953,629 744,319
<br />5 2016 1,822,390 1,341,885
<br />6 2017 2,165, 957 1,504, 589
<br />7 2018 2,955,640 1,936,929
<br />8 2019 3,776,149 2,334,562
<br />9 2020 4,614,724 2,691,511
<br />10 2021 5,471,724 3,010,709
<br />11 2022 6,265,104 3,252,123
<br />12 2023 7,075,637 3,464,961
<br />13 2024 7,878,588 3,639,782
<br />14 2025 8,698,648 3,791,167
<br />15 2026 9,365,035 3,850,567
<br />16 2027 9,979,802 3,871,073
<br />17 2028 10,218,416 3,739,272
<br />18 2029 10,461,803 3,611,638
<br />19 2030 10,710,057 3,488,057
<br />20 2031 10,963,276 3,368,420
<br />21 2032 11, 221, 560 3,252,620
<br />22 2033 11,485, 010 3,140, 549
<br />23 2034 11,753,728 3,032,103
<br />24 2035 12, 027, 821 2,927,180
<br />25 2036 12,307,395 2,825,679
<br />26 2037 12,592,562 2,727,501
<br />Gross Tax Value @
<br />Year Increment 6.00%
<br />$186,379,894 $68,943,022
<br />Increase in EMV With TIF District
<br />Less: P.V of Gross Tax Increment
<br />Subtotal
<br />Less: Increase in EMV Without TIF
<br />Difference
<br />591, 723, 309
<br />68, 943, 022
<br />$522,780,287
<br />0
<br />$522,780,287
<br />Page 27
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