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<br />Projected Tax Increment Report
<br />City of Little Canada, Minnesota
<br />Tax Increment Financing (Housing) District
<br />Twin Lakes Apartments: Reuter Walton Housing project
<br />Preliminary Revenue Projections: 60 Units valued at $200,000/unit for $12M
<br />Less:Retained Times:Less:Less:P.V.
<br />Annual Total Total Original Captured Tax Annual State Aud.Subtotal Admin.Annual Annual
<br />Period Market Net Tax Net Tax Net Tax Capacity Gross Tax Deduction Net Tax Retainage Net Net Rev. To
<br />Ending Value (1)Capacity (2)Capacity (3)Capacity Rate (4)Increment 0.360%Increment 10.00%Revenue 08/01/23
<br />(1)(2)(3)(4)(5)(6)(7)(8)(9)(10)(11)4.50%
<br />12/31/22 294,000 2,205 2,205 0 119.498%0 0 0 0 0 0
<br />12/31/23 294,000 2,205 2,205 0 119.498%0 0 0 0 0 0
<br />12/31/24 294,000 2,205 2,205 0 119.498%0 0 0 0 0 0
<br />12/31/25 12,000,000 60,000 2,205 57,795 119.498% 69,064 249 68,815 6,882 61,933 55,683
<br />12/31/26 12,300,000 60,750 2,205 58,545 119.498% 69,960 252 69,708 6,971 62,737 53,977
<br />12/31/27 12,607,500 61,519 2,205 59,314 119.498% 70,879 255 70,624 7,062 63,562 52,332
<br />12/31/28 12,922,688 62,307 2,205 60,102 119.498% 71,820 259 71,561 7,156 64,405 50,743
<br />12/31/29 13,245,755 63,114 2,205 60,909 119.498% 72,785 262 72,523 7,252 65,271 49,210
<br />12/31/30 13,576,899 63,942 2,205 61,737 119.498% 73,775 266 73,509 7,351 66,158 47,731
<br />12/31/31 13,916,321 64,791 2,205 62,586 119.498% 74,789 269 74,520 7,452 67,068 46,304
<br />12/31/32 14,264,229 65,661 2,205 63,456 119.498% 75,828 273 75,555 7,556 67,999 44,925
<br />12/31/33 14,620,835 66,552 2,205 64,347 119.498% 76,893 277 76,616 7,662 68,954 43,594
<br />12/31/34 14,986,356 67,466 2,205 65,261 119.498% 77,985 281 77,704 7,770 69,934 42,310
<br />12/31/35 15,361,015 68,403 2,205 66,198 119.498% 79,105 285 78,820 7,882 70,938 41,069
<br />12/31/36 15,745,040 69,363 2,205 67,158 119.498% 80,252 289 79,963 7,996 71,967 39,871
<br />12/31/37 16,138,666 70,347 2,205 68,142 119.498% 81,428 293 81,135 8,114 73,021 38,713
<br />12/31/38 16,542,133 71,355 2,205 69,150 119.498% 82,633 297 82,336 8,234 74,102 37,594
<br />12/31/39 16,955,686 72,389 2,205 70,184 119.498% 83,869 302 83,567 8,357 75,210 36,513
<br />12/31/40 17,379,578 73,449 2,205 71,244 119.498% 85,135 306 84,829 8,483 76,346 35,469
<br />12/31/41 17,814,067 74,535 2,205 72,330 119.498% 86,433 311 86,122 8,612 77,510 34,459
<br />12/31/42 18,259,419 75,649 2,205 73,444 119.498% 87,764 316 87,448 8,745 78,703 33,482
<br />12/31/43 18,715,905 76,790 2,205 74,585 119.498% 89,127 321 88,806 8,881 79,925 32,538
<br />12/31/44 19,183,802 77,960 2,205 75,755 119.498% 90,525 326 90,199 9,020 81,179 31,625
<br />12/31/45 19,663,397 79,158 2,205 76,953 119.498% 91,958 331 91,627 9,163 82,464 30,743
<br />12/31/46 20,154,982 80,387 2,205 78,182 119.498% 93,426 336 93,090 9,309 83,781 29,889
<br />12/31/47 20,658,857 81,647 2,205 79,442 119.498% 94,932 342 94,590 9,459 85,131 29,062
<br />12/31/48 21,175,328 82,938 2,205 80,733 119.498% 96,475 347 96,128 9,613 86,515 28,263
<br />12/31/49 21,704,711 84,262 2,205 82,057 119.498% 98,056 353 97,703 9,770 87,933 27,489
<br />12/31/50 22,247,329 85,618 2,205 83,413 119.498% 99,677 359 99,318 9,932 89,386 26,740
<br />$2,154,573 $7,757 $2,146,816 $214,684 $1,932,132 $1,020,328
<br />(1) Total estimated market value based on $200,000/housing unit
<br /> preliminary and subject to further review. Includes 2.5% annual market value inflator
<br />(2) Total net tax capacity based on residential rental low income (4d) classification: 0.75% first $100,000 value and 0.25% value above $100,000
<br />(3) Original net tax capacity based on 2021/2022 existing property value
<br />(4) Total local combined tax rate available for proposed taxes payable 2022
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