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5/22/2017
<br />'.� IEHLERS
<br />Bunker Lake Industrial Park
<br />City of Ramsey
<br />60,000 sq. ft. Industrial
<br />Base Value Assumptions - Page 2
<br />PROJECT INFORMATION (Project Tax Capacity)
<br />Estimated
<br />Taxable
<br />Market Value Market Value Total
<br />Area/Phase New Use Per Sq. Ft./Unit Per Sq. Ft./Unit Sq. Ft./Units
<br />Industrial 55 55 60,000
<br />TOTAL
<br />Subtotal Residential
<br />(Subtotal Commercial/Ind.
<br />Note:
<br />r'e,o�VO'Iry rr'+em,;;;;;;
<br />Total Taxable
<br />Market
<br />Value
<br />3,300,000
<br />3,3UU,000
<br />0 0
<br />60,000 3,300,000
<br />Property
<br />Tax
<br />Class
<br />C/I Pref
<br />Project
<br />Tax Capacity
<br />65,250
<br />bb,2b0
<br />0
<br />65,250
<br />Percentage
<br />Project Tax Completed
<br />Capacity/Unit 2017
<br />1 25%
<br />TAX CALCULATIONS
<br />New Use
<br />Industrial
<br />I TOTAL
<br />Note:
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<br />Total
<br />Tax
<br />Capacity
<br />65,250
<br />65,250
<br />Fiscal
<br />Disparities
<br />Tax Capacity
<br />24,684
<br />24,684
<br />Local
<br />Tax
<br />Capacity
<br />40,566
<br />40,566
<br />Local
<br />Property
<br />Taxes
<br />41,946
<br />41,946
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<br />WHAT IS EXCLUDED FROM TIF?
<br />Fiscal
<br />Disparities
<br />Taxes
<br />37,039
<br />37,039
<br />State-wide
<br />Property
<br />Taxes
<br />29,886
<br />29,886
<br />Market
<br />Value
<br />Taxes
<br />7,115
<br />7,115
<br />Total
<br />Taxes
<br />115,986
<br />115,986
<br />MARKET VALUE BUT / FOR ANALYSIS
<br />Taxes Per
<br />Sq. Ft./Unit
<br />1.93
<br />Total Property Taxes 115,986 Current Market Value - Est 87,432
<br />Tess State-wide Taxes (29,886) New Market Value - Est 3,300,000
<br />less Fiscal Disp. Adj. (37,039) Difference 3,212,568
<br />less Market Value Taxes (7,115) Present Value of Tax Increment 3UU,234
<br />less Base Value Taxes (843) Difference 2:911 334
<br />Annual Gross TIF 41,103 Value likely to occur without Tax Increment is less than — 2,912,334
<br />Prepared b Ehlers ssor ates, Inc -Estimates I'nl',
<br />Percentage
<br />Completed
<br />2018
<br />100%
<br />Percentage
<br />Completed
<br />2019
<br />100%
<br />Percentage
<br />Completed
<br />2020
<br />100%
<br />First Year
<br />Full Taxes
<br />Payable
<br />2020
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