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Exhibit III Projected Tax Increment ReportCity of Little Canada, MinnesotaTax Increment Financing (Economic Development) District No. 7-3Owassa Warehouse based on $90 per SF valueDraft TIF Plan Exhibits based on 74,500 SF industiral facilityLess: Less: Retained Times: Less: Less: P.V.Annual Total Total Original Fiscal Captured Tax Annual State Aud. Subtotal Adm./Pooling Annual AnnualPeriod Market Net Tax Net Tax Disp. @ Net Tax Capacity Gross Tax Deduction Net Tax Retainage Net Net Rev. ToEnding Value (1)Capacity (2)Capacity (3)34.2585% Capacity Rate (4)Increment 0.360% Increment 15.00% Revenue 02/01/22(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) 4.00%12/31/22 469,200 9,384 9,384 0 0 111.931% 0 0 0 0 0 012/31/23 469,200 9,384 9,384 0 0 111.931% 0 0 0 0 0 012/31/24 7,174,200 142,734 9,384 45,684 87,666 111.931% 98,126 353 97,773 14,666 83,107 74,12412/31/25 7,389,426 147,039 9,384 47,158 90,496 111.931% 101,293 365 100,928 15,139 85,789 73,57312/31/26 7,611,109 151,472 9,384 48,677 93,411 111.931% 104,556 376 104,180 15,627 88,553 73,02212/31/27 7,839,442 156,039 9,384 50,242 96,413 111.931% 107,916 388 107,528 16,129 91,399 72,47012/31/28 8,074,625 160,743 9,384 51,853 99,505 111.931% 111,377 401 110,976 16,646 94,330 71,91812/31/29 8,316,864 165,587 9,384 53,513 102,690 111.931% 114,942 414 114,528 17,179 97,349 71,36512/31/30 8,566,370 170,577 9,384 55,222 105,971 111.931% 118,614 427 118,187 17,728 100,459 70,81212/31/31 8,823,361 175,717 9,384 56,983 109,350 111.931% 122,396 441 121,955 18,293 103,662 70,26012/31/32 9,088,062 181,011 9,384 58,797 112,830 111.931% 126,292 455 125,837 18,876 106,961 69,707$1,005,512 $3,620 $1,001,892 $150,283 $851,609 $647,251(1) Total estimated market value based on $90/SF preliminary and subject to further review. Includes 3% annual market value inflator(2) Total net tax capacity based on commercial-industrial class rate of 1.5% first $150,000 value and 2% value above $150,000(3) Original net tax capacity based on 2020/2021 existing property value(4) Total local combined tax rate available for taxes payable 2021
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