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Good Year TIF Analysis <br />Building Square Footage 15,960 <br />EMV Per Square Foot $50.00 <br />Estimated Building Value $798,000 <br />Estimated Land Value $93,901 93901 ® $1.00 <br />Total Estimated Market Value $946,388 <br />Tax Capacity 30,677 Pay 2000 Rates <br />Less' Base Tax Capacity 4,871 <br />TIF Tax Capacity 25,806 <br />X Frozen Rate 134.00% <br />TIF Generated $34,580 <br />($235,816.34) Debt Supported (11.5 yrs @9.50 %) <br />Estimated Land Acquistion Costs 420,074 <br />Demolition 0 <br />Relocation 20,000 <br />Appraisals 5,000 <br />Administration /Closing /Legal 27,500 <br />Interest 100 <br />City Reimbursement - Klein Property 16,000 <br />Soil Correction * 95,000 0% Loan From Ramsey County <br />Subtotal Costs 583,674 <br />Less: Developer Contribution '• 345,000 <br />Less: Land Sale to Frattalone 30,000 <br />Net Costs to Be Recovered by TIF 208,674 <br />Capitalized Interest 26,998 30 months @ 9.5% w/o soil correction financed by County <br />Total Costs To Be Recovered By TIF 235,672 <br />Surplus / .cDeficit> $145 <br />• Developer Estimates $125,000 for soil corrections. They pay first $30,000, TIF retires balance. County finances balance ® 0% interest. <br />• Developer Contribution is not included in capitalized interest calculation. Not a TIF relmburseable cost. <br />Good Year Project <br />Cost Summary <br />Acquisition Appraisal Demo Relocation Closing Legal/Taxes Admin Interest Total <br />Klein 57 525 0 0 0 500 500 Included 0 58,525 <br />Anderson 50,000 0 0 0 500 500 0 0 51,000 <br />Car Wash 255,000 5,000 0 20,000 1,000 3,000 20,000 100 304,100 <br />Pond 57,550 0 0 0 500 1,000 Included 0 59,050 <br />Totals $420,074 $5,000 $0 $20,000 $2,500 $5,000 $20,000 $100 <br />20- Oct -99 <br />PAGE 234 <br />Grand Total $472,674 <br />