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Exhibit 11 <br />Assumptions Report <br />City of Lino Lakes, Minnesota <br />Tax Increment Financing (Redevelopment) District No. 1 -11 <br />The Village Project <br />Scenario A - Fiscal disparities contribution from outside district <br />Type of Tax Increment Financing District <br />Maximum Duration of TIF District <br />Redevelopment <br />25 years from 1st increment <br />Projected Certification Request Date 06/01/04 <br />Decertification Date 12/31/31 (26 Years of Increment) <br />Base Estimated Market Value <br />2003/2004 <br />$880,600 <br />Original Net Tax Capacity $10,345 <br />Base Estimated Market Value <br />Increase in Estimated Market Value <br />Total Estimated Market Value <br />Total Net Tax Capacity <br />Assessment/Collection Year <br />2004/2005 2005/2006 2006/2007 2007/2008 <br />$880,600 $880,600 $880,600 $880,600 <br />0 10,614,465 21,228,930 35,673,395 <br />$880,600 $11,495,065 $22,109,530 $36,553,995 <br />$10,345 $141,072 $282,144 $499,066 <br />City of Lino Lakes 47.603% <br />Anoka County 37.714% <br />ISD #831 24.557% <br />Other 7.050% Rice Creek Watershed <br />Local Tax Capacity Rate 116.924% 2002/2003 <br />Fiscal Disparities Contribution From TIF District <br />Administrative Retainage Percent (maximum = 10 %) <br />Pooling Percent <br />. 0.0000% <br />10.00% <br />15.00% <br />Bonds Note (Pav -As- You -Go) <br />Bonds Dated 06/01/04 Note Dated 06/01/04 <br />Bond Issue @ 5.92% (NIC) $11,335,000 Note Rate 8.00% <br />Eligible Project Costs $8,779,840 Note Amount $7,066,500 <br />Present Value Date & Rate <br />06/01/04 5.00% <br />Notes <br />SPRINGSTED <br />Page 19 <br />