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Exhibit III Baker Tilly Municipal Advisors, LLC Page 16 Projected Tax Increment ReportCity of Little Canada, MinnesotaTax Increment Financing (Housing) District No. 7-4Proposed Rice and Demont Housing ProjectDraft TIF Plan Exhibits based on 160-unit Housing Development with Taxable Value of $36,000,000Less: Retained Times: Less: Less: P.V.Annual Total Total Original Captured Tax Annual State Aud. Subtotal Admin. Annual AnnualPeriod Market Net Tax Net Tax Net Tax Capacity Gross Tax Deduction Net Tax Retainage Net Net Rev. ToEnding Value (1)Capacity (2)Capacity (3)Capacity Rate (4)Increment 0.360% Increment 10.00% Revenue 12/01/25(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) 6.00%12/31/25 1,527,400 3,819 3,819 0 105.323% 0 0 0 0 0 012/31/26 1,527,400 3,819 3,819 0 105.323% 0 0 0 0 0 012/31/27 17,853,108 44,633 3,819 40,814 105.323% 42,987 155 42,832 4,283 38,549 34,30812/31/28 35,706,216 89,266 3,819 85,447 105.323% 89,995 324 89,671 8,967 80,704 67,76112/31/29 36,420,340 91,051 3,819 87,232 105.323% 91,876 331 91,545 9,155 82,390 65,26112/31/30 37,148,747 92,872 3,819 89,053 105.323% 93,794 338 93,456 9,346 84,110 62,85212/31/31 37,891,722 94,729 3,819 90,911 105.323% 95,750 345 95,405 9,541 85,864 60,53112/31/32 38,649,557 96,624 3,819 92,805 105.323% 97,746 352 97,394 9,739 87,655 58,29612/31/33 39,422,548 98,556 3,819 94,738 105.323% 99,781 359 99,422 9,942 89,480 56,14112/31/34 40,210,999 100,527 3,819 96,709 105.323% 101,857 367 101,490 10,149 91,341 54,06512/31/35 41,015,219 102,538 3,819 98,720 105.323% 103,974 374 103,600 10,360 93,240 52,06512/31/36 41,835,523 104,589 3,819 100,770 105.323% 106,134 382 105,752 10,575 95,177 50,13812/31/37 42,672,233 106,681 3,819 102,862 105.323% 108,338 390 107,948 10,795 97,153 48,28212/31/38 43,525,678 108,814 3,819 104,996 105.323% 110,585 398 110,187 11,019 99,168 46,49412/31/39 44,396,192 110,990 3,819 107,172 105.323% 112,877 406 112,471 11,247 101,224 44,77112/31/40 45,284,115 113,210 3,819 109,392 105.323% 115,215 415 114,800 11,480 103,320 43,11212/31/41 46,189,798 115,474 3,819 111,656 105.323% 117,600 423 117,177 11,718 105,459 41,51412/31/42 47,113,594 117,784 3,819 113,965 105.323% 120,032 432 119,600 11,960 107,640 39,97412/31/43 48,055,866 120,140 3,819 116,321 105.323% 122,513 441 122,072 12,207 109,865 38,49112/31/44 49,016,983 122,542 3,819 118,724 105.323% 125,044 450 124,594 12,459 112,135 37,06212/31/45 49,997,323 124,993 3,819 121,175 105.323% 127,625 459 127,166 12,717 114,449 35,68612/31/46 50,997,269 127,493 3,819 123,675 105.323% 130,258 469 129,789 12,979 116,810 34,36012/31/47 52,017,214 130,043 3,819 126,225 105.323% 132,944 479 132,465 13,247 119,218 33,08412/31/48 53,057,559 132,644 3,819 128,825 105.323% 135,683 488 135,195 13,520 121,675 31,85412/31/49 54,118,710 135,297 3,819 131,478 105.323% 138,477 499 137,978 13,798 124,180 30,67012/31/50 55,201,084 138,003 3,819 134,184 105.323% 141,327 509 140,818 14,082 126,736 29,52912/31/51 56,305,106 140,763 3,819 136,944 105.323% 144,234 519 143,715 14,372 129,343 28,43112/31/52 57,431,208 143,578 3,819 139,760 105.323% 147,199 530 146,669 14,667 132,002 27,373$2,953,845 $10,634 $2,943,211 $294,324 $2,648,887 $1,152,105(1) Total estimated market value based on information provided by City preliminary and subject to further review. Includes 2% annual market value inflator(2) Total net tax capacity based on Residential 4d Rate with a class rate of .25% (3) Original net tax capacity based on 2023/2024 property value - with reclassification to Residential Rental(4) Total local combined tax rate available for taxes payable 2024
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