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11/1512021 <br />TIF District No. 7 (Villas of Mounds View) - 3% Inflation <br />City of Mounds View, M N �� E H L E RS <br />nu senior apartments <br />F, SLIC FINANCE ADVISORS <br />PROJECTO• <br />(Project Tax <br />Capacity) <br />Estimated Taxable <br />Total Taxable <br />Property <br />Percentage <br />Percentage <br />Percentage <br />Percentage <br />Firsl Yea <br />Market Value Market Value Total <br />Market <br />Tax <br />Project <br />Project Tax <br />Completed <br />Completed <br />Completed <br />Completed <br />Full Taxe <br />Area1Phase New Use <br />Per Sq. FClUnit Per Sq. F1.fllnit Sq. FtJUnits <br />Value <br />Class <br />Tax Capacity <br />CapecityMnil <br />2022 <br />2023 <br />2024 <br />2025 <br />Payable <br />1 Apartments <br />205,000 205,000 120 <br />24,600 000 <br />Aft Rental <br />121.500 <br />1,013 <br />15% <br />100% <br />100% <br />100% <br />2025 <br />rbtutal Residential <br />120 <br />2C600,000 <br />121,500 <br />r6[otal Commercielllnd. <br />0 <br />0 <br />0 <br />Note: <br />1. Market values are based upon estiarI from the County Assessor. <br />TAX CALCULATIONS 0 <br />o aI Iaca.ecal L—I <br />Tax Disparities Tax Property Disparities Property Value Total Taxes Per <br />New Use Capacity Tax Capacity Capacity Taxes Taxes Taxes Taxes Taxes Sq. FtlUnit <br />Apartments 121,500 0 121,500 139,143 0 0 33,709 173,452 1t1-.43 <br />n Pr <br />1. Taxes and tax Increment will vary significantly from year to year depending upon values, rates, state law, fiscal disparities and other factors <br />which cannot be predicted, <br />WHAT IS LXCLLJDLL) FROM <br />ota roperty I <br />e [ ent et a - sitless State-wide Taxes 0 New Market Value - Est. 24,600,000 <br />less Fiscal Disp. Adj. a CUT-- <br />less Market Value Taxes (33,7091 Present Value of Tax Increment <br />less Base Value Taxes (6,0371 Difference <br />Annual Gross TIF 1J3,106 Value likely to occur without Tax Increment is less than: <br />Prepared by Ehlers <br />DOC SOPEN\MU205\52\763645.v2-11 / 18/21 <br />