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3/8/2021Lowry Grove TIF District City of St. Anthony, MN 264-Units of Senior Living/Care and 225-Market Rate UnitsEstimated Taxable Total Taxable Property Percentage Percentage Percentage Percentage First YearMarket Value Market Value Total Market Tax Project Project Tax Completed Completed Completed Completed Full TaxesArea/PhaseNew Use Per Sq. Ft./Unit Per Sq. Ft./UnitSq. Ft./UnitsValueClass Tax CapacityCapacity/Unit 2021202220232024 Payable1Senior Apartments 180,000180,000 135 24,300,000 Rental303,7502,250 50%100%100%100%20242Assisted living 180,000180,000 54 9,720,000 Rental121,5002,250 0%50%100%100%20252Assisted living 180,000180,000 75 13,500,000 Rental168,7502,250 0%50%100%100%20253Market Apartments 180,000180,000 225 40,500,000 Rental506,2502,250 0%0%50%100%2026TOTAL88,020,000 1,100,250 Subtotal Residential 489 88,020,000 1,100,250 Subtotal Commercial/Ind. 0 0 0 Note:1. Market values are based upon estimates received from the County Assessor's Office.Total Fiscal Local Local Fiscal State-wide MarketTax Disparities Tax Property Disparities PropertyValueTotal Taxes PerNew UseCapacity Tax Capacity Capacity Taxes TaxesTaxesTaxesTaxes Sq. Ft./UnitSenior Apartments 303,7500303,750 439,3590054,267 493,626 3,656.49Assisted living121,5000121,500 175,7440021,707 197,450 3,656.49Assisted living168,7500168,750 244,0880030,148 274,237 3,656.49Market Apartments 506,2500506,250 732,2650090,445 822,710 3,656.49TOTAL1,100,25001,100,250 1,591,45700196,566 1,788,023Note: 1. Taxes and tax increment will vary significantly from year to year depending upon values, rates, state law, fiscal disparities and other factors which cannot be predicted.Total Property Taxes 1,788,023Current Market Value - Est. 7,354,000less State-wide Taxes 0New Market Value - Est. 88,020,000less Fiscal Disp. Adj. 0 Difference80,666,000less Market Value Taxes(196,566)Present Value of Tax Increment28,242,769less Base Value Taxes(132,965) Difference52,423,231Annual Gross TIF 1,458,492Value likely to occur without Tax Increment is less than:52,423,231 WHAT IS EXCLUDED FROM TIF?MARKET VALUE BUT / FOR ANALYSISTAX CALCULATIONSPROJECT INFORMATION (Project Tax Capacity)Prepared by Ehlers20
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