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Project Tax Capacity <br />Estimated Development Tax Capacity upon completion <br />Less: Original Net Tax Capacity (ONTC) <br />Less: Fiscal Disparities <br />Estimated Captured Tax Capacity (CTC) <br />Original Local Tax Rate <br />Estimated Annual Tax Increment <br />Percent Retained by the City <br />570,199 <br />15,256 <br />554,943 <br />Pay <br />94.5580% 2026 <br />$524,743 <br />100% <br />Note: Tax capacity includes a 3% inflation factor for the duration of the District. The tax <br />capacity included in this chart is the estimated tax capacity of the District in year 26. The tax <br />capacity of the District in year one is estimated to be $140,250. <br />Pursuant to M.S., Section 469.177, Subd. 4, the City shall, after a due and <br />diligent search, accompany its request for certification to the County Auditor <br />or its notice of the District enlargement pursuant to M.S., Section 469.175, <br />Subd. 4, with a listing of all properties within the District or area of <br />enlargement for which building permits have been issued during the eighteen <br />(18) months immediately preceding approval of the TIF Plan by the <br />municipality pursuant to M.S., Section 469.175, Subd. 3. The County Auditor <br />shall increase the original net tax capacity of the District by the net tax <br />capacity of improvements for which a building permit was issued. <br />The City has reviewed the area to be included in the District and found no <br />parcels for which building permits have been issued during the 18 months <br />immediately preceding approval of the TIF Plan by the City. <br />SOURCES OF REVENUE/BONDS TO BE ISSUED <br />The total estimated tax increment revenues for the District are shown in the <br />table below: <br />SOURCES <br />Tax Increment <br />Interest <br />TOTAL <br />$ 9,393,888 <br />939,389 <br />$ 10,333,277 <br />The costs outlined in the Uses of Funds will be financed primarily through the <br />annual collection of tax increments. The City reserves the right to issue bonds <br />(as defined in the TIF Act) or incur other indebtedness as a result of the TIF <br />Plan. As presently proposed, the projects within the District will be financed <br />by pay-as-you-go notes and interfund loans. Any refunding amounts will be <br />deemed a budgeted cost without a formal modification to this TIF Plan. <br />City of Ramsey <br />Tax Increment Financing District No. 20 (Trident) 6 <br />