Laserfiche WebLink
THUNDER BAY TIF REVENUE PROJECTIONS <br />TAX INCREMENT CALCULATIONS: <br />Tax Capacity <br />$ 6,681 Adjusted Frozen Base per Diane <br />Fiebiger at Ramsey County (298 -4177) <br />22,656 1989 Pay 1990 Value <br />$ 15,975 <br />1.1225 <br />17,932 <br />Captured Tax Capacity <br />Tax Capacity Rate <br />Tax Increment <br />Economic Adjustment Factor = 1.056 <br />The 1989 values were from 11 <br />completed housing units for an <br />average tax increment of $1,630 per <br />unit. <br />Twenty -nine units were completed in <br />1990. Therefore, assuming the tax <br />increment per unit remains constant, <br />the following revenue stream can be <br />anticipated; <br />Year <br /># Units Tax Increment <br />89 -90 11 16,696 <br />90 -91 29 42,830 <br />91 32 47,500 <br />92 35 51,773 <br />93 38 56,019 <br />94 40 58,660 <br />95 40 58,116 <br />96 40 57,542 <br />CUMULATIVE TOTAL $389,136 <br />Tax Increment Financing Plan <br />The Plan adopted by the City Council in June, 1987 <br />shall continue to remain the Tax Increment Financing Plan <br />for Thunder Bay Tax Increment Financing District No. 1 <br />except to the extent herein modified. <br />Page 11 <br />