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RWWN►1b11t:U <br />ESTIMATE OF TAX INCREMENT AND BONDING <br />1. TAX INCREMENT ESTIMATE <br />ASSUMPTIONS <br />- Two to tbrea year buildout of a $7.2 million dollar development <br />consisting of 270,000 S.F. of Office, Manufacturing and Warehouse <br />- Approximate value of construction per year starting In, <br />--1990 for Stage 1, taxes payable 1991 - $2,880,000 to $4,680,000 <br />--1991 for Stage 11, taxes payable 1992 - $2,160,000 to $2,520,000 <br />--1992 for Stage III, taxes payable 1993 - $21160,000 to $1,300,000 <br />- Average tax per square foot estimated by comparable development at <br />$1.25 to $1.46. <br />- Tax Capacity Rate (1988/1989) at 91.645 <br />- Tax Capacity Ratio at 6.05 <br />if. BOND ESTIMATE* <br />- Approximate annual payment at full buildout = $330,000 to $380,900 <br />- Interest rate on taxable general obligation bond estimated at 10% <br />- Interest rate on exempt general cbligatlon bond estimated at 7.1% <br />- Term limited to 14 years, 11 year amortization and 3 years of <br />capitalized interest <br />- Gross Bond Range of $2,300,000 to $2,500,000 <br />'To be finalized by Springsted Inc. <br />City of Mounds View TIF District No. 1 Modification 371 P a S e <br />