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Exhibit II <br /> <br /> <br />Assumptions Report <br />City of Little Canada, Minnesota <br />Tax Increment Financing (Economic Development) District No. 7-3 <br />Owassa Warehouse based on $90 per SF value <br />Draft TIF Plan Exhibits based on 74,500 SF industiral facility <br />Type of Tax Increment Financing District Economic Development <br />Maximum Duration of TIF District 8 years from 1st increment <br />Assume 1st Increment is 2024 <br />Projected Certification Request Date 06/30/22 <br />Decertification Date 12/31/32 (9 Years of Increment) <br />2022/2023 <br />Base Estimated Market Value* 469,200 <br />Parcel ID: 062922210040 <br />* Values provided by Ramsey County website <br />Original Net Tax Capacity 9,384 <br />Assessment/Collection Year <br />2022/2023 2023/2024 2024/2025 2025/2026 <br />Base Estimated Market Value $469,200 $469,200 $469,200 $469,200 <br />Estimated Increase in Value - New Construction 0 6,705,000 6,920,226 7,141,909 <br />Total Estimated Market Value 469,200 7,174,200 7,389,426 7,611,109 <br />Total Net Tax Capacity $9,384 $142,734 $147,039 $151,472 <br />Payable 2021 <br />City of Little Canada 23.983% <br />Ramsey County 47.760% <br />ISD #623 31.250% <br />Other (5336) 8.938% <br />Local Tax Capacity Rate 111.9310% 0.168760% <br />Estimated Frozen Tax Capacity Rate 111.931% <br />Fiscal Disparities Contribution From TIF District 34.2585% <br />Administrative Retainage Percent (maximum = 10%) 10.00% <br />Pooling Percent 5.00% <br />Bonds Projected Pay-as-you-go Note <br />Bonds Dated NA Note Dated 02/01/22 <br />Bond Issue @ 0.00% (NIC) NA Note Rate 4.00% <br />Eligible Project Costs NA Note Amount TBD <br />Present Value Date & Rate 02/01/22 4.00% PV Amount $647,251 <br />Notes <br />Assumes no changes to future class rates and tax rates <br />Includes 3% annual market value inflator to allow for future growth <br />Total taxable value based on $90/square foot for 74,500 facility <br /> Construction commences and completes in 2022