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21 Development Opportunities on City-Owned Land | Lake Elmo, Minnesota
<br />ULI TAP
<br />Development
<br />Scenario for
<br />Lake Elmo
<br />Land
<br />ULI TAP -
<br />Hypothetical
<br />Industrial
<br />Dev. Only
<br />COMPARISON OF SIMILARLY VALUED PROPERTY COMPARISON OF ILLUSTRATIVE SINGLE USE DEVELOPMENT ON
<br />100 ACRES (NET OF WETLANDS AND SETBACKS)
<br />Residential
<br />Owner Occ,
<br />Low Density
<br />Residential
<br />Owner Occ,
<br />Med Density
<br />Residential
<br />Rental, High
<br />Density
<br />Commercial Industrial
<br />Residential
<br />Owner Occ,
<br />Low Density
<br />Residential
<br />Owner Occ,
<br />Med Density
<br />Residential
<br />Rental,
<br />High Density
<br />Commercial Industrial
<br />RESIDENTIAL UNITS 357 - 63 83 172 255 425 850
<br />COMMERCIAL/INDUSTRIAL SF 780,000 1,550,000 200,000 500,000
<br />TAXABLE MARKET VALUE 198,600,000 199,589,041 50,000,000 50,000,000 50,000,000 50,000,000 50,000,000 204,000,000 255,000,000 246,500,000 76,750,000 76,400,000
<br />TOTAL ANNUAL PROPERTY TAXES 3,832,348 5,272,061 574,883 574,883 575,880 1,319,543 1,319,543 2,348,593 2,935,991 2,839,088 2,026,345 2,017,097
<br />City Taxes 675,625 688,940 167,477 167,477 167,813 172,493 172,493 684,339 855,508 827,316 264,846 263,637
<br />County Taxes 599,885 611,707 148,702 148,702 149,000 153,156 153,156 607,622 759,602 734,570 235,155 234,082
<br />School Taxes 896,317 909,455 223,375 223,375 223,668 227,747 227,747 912,271 1,140,412 1,102,681 349,653 348,058
<br />Fiscal Disparities Taxes 919,503 1,765,584 - - - 442,056 442,056 - - - 678,734 675,637
<br />All Other Jurisdiction Taxes 741,017 1,296,374 35,329 35,329 35,400 324,092 324,092 144,361 180,469 174,522 497,958 495,683
<br />Future Value 15 years of City Taxes 10,134,377 10,334,104 2,512,153 2,512,153 2,517,188 2,587,390 2,587,390 10,265,091 12,832,622 12,409,734 3,972,683 3,954,557
<br />Present Value 15 years of City
<br />Taxes 5,627,260 5,738,161 1,394,909 1,394,909 1,397,705 1,436,686 1,436,686 5,699,840 7,125,499 6,890,685 2,205,890 2,195,825
<br />Exhibit 2. Potential Property Tax Generation
<br />Information based on averages and
<br />current market prices. All information to
<br />be verified for each project and
<br />application moving forward. Information
<br />to be used for general purposes only.
<br />Exhibit 3. Cost of Services for Every $1 of
<br />Property Taxes Received Potential Property Tax
<br />Generation
<br />This information was provided by the American Farmland
<br />Trust via Washington County. The panel cautions that Cost of
<br />Community Services studies rely on broad assumptions and
<br />often exclude long-term capital needs and broader economic
<br />benefits, among other factors. The information on Cost of
<br />Community Services is not warranted or guaranteed to be
<br />accurate by the panel. It is offered as a point of reference only.
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