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• <br />• <br />• <br />Exhibit 1l <br />Assumptions Report <br />City of Lino Lakes, Minnesota <br />Tax Increment Financing (Economic Development) District No. 1 -10 <br />Panattoni Project <br />Scenario B - Prelim. TIF Projections - FD contribution from within District <br />Type of Tax Increment Financing District <br />Maximum Duration of TIF District <br />Projected Certification Request Date <br />Economic Development <br />8 years from 1st increment <br />08/31/03 <br />Decertification Date 12/31/14 {9 Years of Increment) <br />Base Estimated Market Value (1) <br />Times: First <br />Excess <br />$150,000 <br />Original Net Tax Capacity <br />1.50% <br />2.00% <br />2003/2004 <br />$885,000 <br />2,250 <br />14,700 <br />$16,9 <br />2003/2004 <br />ent/Collection Year <br />2004/2005 2005/2006 2006/2007 <br />Base Estimated Market Value $885,000 - $885,000 $885,000 $885,000 <br />Increase in Estimated Market Value (2) 0 0 9,663,000 11,463,000 <br />`$885,000 $885,000 $10,548,000 $12,348,000 <br />50% 2,250 2,250 2,250 2,250 <br />2.00% 14,700 14,700 207,960 243,960 <br />$16,950 $16,950 $210,210 $246,210 <br />Total Estimated Market Value <br />Times: First <br />Excess <br />$150,00G <br />Total Net Tax Capaci ,+ <br />City of Lino Lakes <br />Anoka Counj <br />ISD #12 <br />Other <br />Local Tax Capacity Rate <br />Fiscal Disparities Contribution From TIF District <br />Administrative Retainage Percent (maximum = 10 %) <br />Pooling Percent <br />47.603% <br />37.714% <br />37.467% <br />7.050% <br />129.834% 2002/2003 <br />32.3301 % <br />5.00% <br />0.00% <br />Bonds <br />Bonds Dated NA <br />Bond Issue @ 0.00% (NIC) $1,785,000 <br />Eligible Project Costs $1,637,425 <br />Present Value Date & Rate <br />Note (Pay -As- You -Go) <br />Note Dated 08/31/03 <br />Note Rate 5.00% <br />Note Amount $1,582,500 <br />08/31/03 8.00% <br />Notes <br />(1) Pay 2003 base values of 3 parcels provided by City and County. 2 parcels will be removed from TIF District 1 -9. <br />(2) Estimated completed values provided by City. Projects completed in phases between 2004 -07 for Pay 2006 -09. <br />Panattoni bldg complete in 2004, Outlot A bldg in 2005, Outlot B bldg in 2006 and Outlot C bldg in 2007. <br />SPRINGSTED <br />Page 19 <br />