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THUNDER BAY TIF REVENUE PROJECTIONS <br />TAX INCREMENT CALCULATIONS: <br />Tax Capacity <br />$ 6,681 <br />22,656 <br />15,975 <br />1.1225 <br />17,932 <br />Adjusted Frozen Base per Diane Fiebiger <br />at Ramsey County (298 -4177) <br />1989 Pay 1990 Value <br />Captured Tax Capacity <br />Tax Capacity Rate <br />Tax Increment <br />The 1989 values were from 11 completed <br />housing units for an average tax <br />increment of $1,630 per unit. <br />29 units were completed in 1990. <br />Therefore, assuming the tax increment <br />per unit remains constant, the following <br />revenue stream can be anticipated; <br />Year <br /># Units Tax Increment <br />89 -90 11 17,931 <br />90 29 47,275 <br />91 40 65,000 <br />92 40 65,000 <br />93 40 65,000 <br />94 40 65,000 <br />95 40 65,000 <br />96 40 65.000 <br />CUMULATIVE TOTAL $455,206 <br />Tax Increment Financing Plan <br />The Plan adopted by the City Council in June, 1987 shall <br />continue to remain the Tax Increment Financing Plan for Thunder <br />Bay Tax Increment Financing District No. 1 except to the extent <br />herein modified. <br />2438 <br />4 <br />Page 8 <br />