|
City of Lino Lakes, Minnesota
<br />Legacy Project
<br />April 30, 2008
<br />Page 3
<br />Scenario 2
<br />Scenario 2 is a worst -case scenario using the same assumptions as in Scenario 1 with two exceptions:
<br />• No additional development occurs beyond what is currently existing
<br />• Utilizes the maximum term of the TIF District which is 26 years of collection
<br />o The bond issue and other financings were constructed around 17 years of tax increment
<br />collections, although the TIF Plan did not mandate that the district be decertified early. This
<br />scenario uses an additional nine years of tax increment, as is allowed by state law.
<br />Collect
<br />Year
<br />(1)
<br />2006
<br />2007
<br />2008
<br />2009
<br />2010
<br />2011
<br />2012
<br />2013
<br />2014
<br />2015
<br />2016
<br />2017
<br />2018
<br />2019
<br />2020
<br />2021
<br />2022
<br />2023
<br />2024
<br />2025
<br />2026
<br />2027
<br />2028
<br />2029
<br />2030
<br />2031
<br />2032
<br />1.22,109
<br />25,007
<br />28,967
<br />om_ !-348.;,
<br />Pooled MSA
<br />TIF Funds
<br />1 -10
<br />(3) (4)
<br />39,865 50,000
<br />37,336 245,500
<br />37,336 245,500
<br />37,336 245,500
<br />37,336 245,500
<br />O 245,500
<br />O 245,500
<br />O 245,500
<br />O 245,500
<br />O 245,500
<br />O 0
<br />O 0
<br />0 0
<br />O 0
<br />O 0
<br />O 0
<br />0 0
<br />O 0
<br />0 0
<br />O 0
<br />O 0
<br />O 0
<br />O 0
<br />0 0
<br />O 0
<br />O 0
<br />189,209 2,259,500
<br />GO TIF TIF
<br />TIF Interfund Developer
<br />Bonds Loan Note
<br />$4.215M $950K $1.0M
<br />(6) (7) (8)
<br />92,298 0 0
<br />334,526 0 0
<br />337,926 0 0
<br />370,926 0 0
<br />412,326 0 0
<br />421,726 0 0
<br />470,326 0 0
<br />471,526 0 0
<br />477,126 0 0
<br />481,926 0 0
<br />255,926 0 0
<br />258,326 0 0
<br />265,326 0 0
<br />271,726 0 0
<br />277,526 0 0
<br />287,481 0 0
<br />291,550 0 0
<br />O 0 0
<br />O 0 0
<br />0 0 0
<br />O 0 0
<br />O 0 0
<br />O 0 0
<br />O 0 0
<br />O 0 0
<br />O 0 0
<br />5,778,496 0 0
<br />Average Annual
<br />Investment Surplus
<br />Earnings (Deficit)
<br />0.00%
<br />(10) (11)
<br />O 3,198
<br />O 24,968
<br />O 21,568
<br />O (11,432)
<br />O (52,832)
<br />0 (97,578)
<br />O (144,148)
<br />O (143,278)
<br />O (146,766)
<br />O (149,412)
<br />O (166,715)
<br />O (166,874)
<br />0 (171,588)
<br />0 (175,657)
<br />O (179,079)
<br />0 (186,608)
<br />O (188,202)
<br />O 105,871
<br />O 108,445
<br />O 111,071
<br />O 113,749
<br />O 116,480
<br />0 119,266
<br />O 122,109
<br />O 125,007
<br />O 128,967
<br />O (879,471)
<br />This scenario results in a deficit at the end of the district of $879,471. In this worst -case scenario, the deficit would
<br />be covered through additional MSA dollars. It is unlikely that this is a realistic scenario; however, it is important to
<br />understand the impact of a worst -case scenario.
<br />
|