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7/19/2021
<br />Oppidan Industrial
<br />City of Ramsey, MN
<br />405,300 sq. ft. Industrial
<br />6a4$EHLERS
<br />l PUBLIC FINANCE ADVISORS
<br />PROJECT INFORMATION (Project Tax Capacity)
<br />Area/Phase New Use
<br />1 Industrial
<br />1 Industrial
<br />2 Industrial
<br />TOTAL
<br />(Subtotal Residential
<br />(Subtotal Commercial/Ind.
<br />Note:
<br />Estimated Taxable
<br />Market Value Market Value Total
<br />Per Sq. Ft./Unit Per Sq. Ft./Unit Sq. Ft./Units
<br />79 96 80 111,300
<br />7619 76 147,000
<br />7823 78 147,000
<br />Total Taxable
<br />Market
<br />Value
<br />8,900,000
<br />11, 200, 000
<br />11, 500, 000
<br />31,600,000
<br />0 0
<br />405,300 31,600,000
<br />1. Market values are based upon estimates from the County Assessor.
<br />Property
<br />Tax
<br />Class
<br />C/I Pref
<br />C/I Pref
<br />C/I Pref
<br />Percentage Percentage Percentage Percentage First Year
<br />Project Project Tax Completed Completed Completed Completed Full Taxes
<br />Tax Capacity Capacity/Unit 2021 2022 2023 2024 Payable
<br />177,250 2 25% 100% 100% 100% 2024
<br />223,250 2 25% 100% 100% 100% 2024
<br />229,250 I, 2 0% 25% 100% 100% 2025
<br />629,750 1
<br />0 •
<br />629,750 •
<br />TAX CALCULATIONS
<br />New Use
<br />Industrial
<br />Industrial
<br />Industrial
<br />TOTAL
<br />Note:
<br />1. Taxes and tax increment will vary significantly from year to year depending upon values, rates, state law, fiscal disparities and other factors
<br />which cannot be predicted.
<br />Total
<br />Tax
<br />Capacity
<br />177,250
<br />223,250
<br />229,250
<br />629,750
<br />Fiscal
<br />Disparities
<br />Tax Capacity
<br />66,577
<br />83,855
<br />86,109
<br />236,540
<br />Local
<br />Tax
<br />Capacity
<br />110,673
<br />139,395
<br />143,141
<br />393,210
<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 />Local
<br />Property
<br />Taxes
<br />100,941
<br />127,137
<br />130,554
<br />358,631
<br />Fiscal
<br />Disparities
<br />Taxes
<br />92,877
<br />116,981
<br />120,125
<br />329,983
<br />State-wide
<br />Property
<br />Taxes
<br />63,231
<br />79,781
<br />81,940
<br />224,952
<br />Market
<br />Value
<br />Taxes
<br />21,088
<br />26,537
<br />27,248
<br />74,873
<br />Total
<br />Taxes
<br />278,137
<br />350,436
<br />359,866
<br />988,440
<br />Taxes Per
<br />Sq. Ft./Unit
<br />2.50
<br />2.38
<br />2.45
<br />MARKET VALUE BUT / FOR ANALYSIS
<br />988,440 Current Market Value - Est
<br />(224,952) New Market Value - Est
<br />(329,983) Difference
<br />(74,873) Present Value of Tax Increment
<br />(33,147) Difference
<br />325,484 Value likely to occur without Tax Increment is less than
<br />2,947,800
<br />31, 600, 000
<br />28, 652, 2UU
<br />2,232,fg2
<br />26, 419, 418
<br />Zb,41 a,412$
<br />Prepared by Ehlers
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