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Patrick Brame <br />COR Tax Exempt Property Swap Impact <br />10-20-14 <br />Page 2 <br />Source of Funds <br />Land Sale Proceeds $3,049,200 <br />Present Value TIF* $2,286,353 <br />Total $5,335,553 <br />*Assumes 4.0% interest rate <br />Development Scenairo 1 <br />Taxable <br />Tax Exempt <br />$0 <br />$0 <br />$0 <br />As the table indicates, the assumed development scenario would generate an estimated <br />$3,049,200 in land sale proceeds. In addition, the present value of the tax increment <br />generated is estimated to be $2,286,353 assuming a 4.0% interest rate. The total TIF <br />received (future value) is estimated to be $3,367,299. <br />Please contact me at 651-697-8512 with any questions. <br />