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11/12/2020Base Value Assumptions - Page 1TIF 3-3City of Little Canada, MN The Lodge/Garden TerraceASSUMPTIONS AND RATESDistrictType:HousingDistrict Name/Number:County District #:Exempt Class Rate (Exempt) 0.00%First Year Construction or Inflation on Value 2019Commercial Industrial Preferred Class Rate (C/I Pref.)Existing District - Specify No. Years Remaining 9 First$150,000 1.50%Inflation Rate - Every Year:2.00%Over$150,000 2.00%Interest Rate:5.25%Commercial Industrial Class Rate (C/I) 2.00%Present Value Date:1-Aug-20Rental Housing Class Rate (Rental) 1.25%First Period Ending 1-Feb-21Affordable Rental Housing Class Rate (Aff. Rental)Tax Year District was Certified:Pay 2020First$150,000 0.75%Cashflow Assumes First Tax Increment For Development: 2021 Over$150,000 0.25%Years of Tax Increment 9 Non-Homestead Residential (Non-H Res. 1 Unit)Assumes Last Year of Tax Increment 2029 First$500,000 1.00%Fiscal Disparities Election [Outside (A), Inside (B), or NA]Outside(A)Over$500,000 1.25%Incremental or Total Fiscal DisparitiesIncrementalHomestead Residential Class Rate (Hmstd. Res.)Fiscal Disparities Contribution Ratio 33.4267% Pay 2003 First$500,000 1.00%Fiscal Disparities Metro-Wide Tax Rate 132.8850% Pay 2003 Over$500,000 1.25%Maximum/Frozen Local Tax Rate: 103.145% Pay 2003Agricultural Non-Homestead 1.00%Current Local Tax Rate: (Use lesser of Current or Max.)118.315%Pay 2003State-wide Tax Rate (Comm./Ind. only used for total taxes) 54.4470% Pay 2003Market Value Tax Rate (Used for total taxes) 0.20792% Pay 2003Building Total Percentage Tax Year PropertyCurrent Class AfterLand Market Market Of Value Used Original Original Tax Original After ConversionMap ID PID Owner Address Market ValueValueValue for District Market Value Market Value Class Tax CapacityConversion Orig. Tax Cap.106.29.22.23.0030Garden Terrace Commons2876 Market Place Dr94,000 0 94,000 100% 94,000 Pay 2006Aff. Rental 705 Aff. Rental 705 1206.29.22.31.0062Garden Terrace Commons2880 Market Place Dr29,700 0 29,700 100% 29,700 Pay 2006Aff. Rental 223 Aff. Rental 223 1306.29.22.31.0063CBC 202 Ltd. Partnership 2874 Market Place Dr1,774,300 0 1,774,300 100% 1,774,300 Pay 2006Aff. Rental 13,307 Aff. Rental 13,307 1406.29.22.32.0034Lodge Apts. @ Little Canad2800 Rice Street270,800 0 270,800 100% 270,800 Pay 2006 Rental 3,385 Rental 3,385 1506.29.22.32.0034Lodge Apts. @ Little Canad2800 Rice Street55,100 0 55,100 100% 55,100 Pay 2006 C/I Pref. 827 C/I Pref. 827 1606.29.22.32.0069The Villas @ Little Canada0 Manitoba Ln50 0 50 100% 50 Pay 2006 Rental 1 Exempt - 1706.29.22.32.0070Lodge @ Little Canada 0 Manitoba Ln50 0 50 100% 50 Pay 2006 Rental 1 Rental 1 12,224,000 0 2,224,0002,224,000 18,449 18,448Note:1. Base values are certified for taxes payable in 2020.Area/ PhaseTax Rates BASE VALUE INFORMATION (Original Tax Capacity)Prepared by Ehlers & Associates, Inc. - Estimates OnlyN:\Minnsota\Little Canada\Housing - Economic - Redevelopment\TIF\TIF Districts\TIF 3-3 est & 3-2 mod\Modification - 2020\TIF Run - TIF 3-3 - Little Canada.xlsm