2007.02.20 EDA Packet - Laserfiche WebLink

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Exhibit III Assumptions Report City of Hugo, Minnesota Tax Increment Financing (Redevelopment) District No. 1-2 Downtown Redevelopment Project Scenario A: Total EMV Type of Tax Increment Financing District Redevelopment Maximum Duration of TIF District 25 years from 1st increment Projected Certification Request Date 07/15/07 Decertification Date 12/31/35 (26 Years of Increment) 2007/2008 Base Estimated Market Value $28.350.400 Estimated blended class rate 1.5526% Original Net Tax Capacity* $440,174 Assessment/Collection Year 2007/2008 2008/2009 2009/2010 2010/2011 Base Estimated Market Value $28,350,400 $28,350,400 $28,350,400 $28,350,400 Increase in Estimated Market Value 0 11,750.227 21,323;549 31,136,204 Total Estimated Market Value 281350,400 40.100;627 49,673;949 59,486,604 Total Net Tax Capacity $440,174 $598,310 5711,755 S828,035 City of Hugo 35,931% Washington County 25.651% ISD#624 17.731% Other 3.672% Local Tax Capacity Rate 82.985% Proposed 2006/2007 Fiscal Disparities Contribution From TIF District Administrative Retainage Percent(maximum= 10%) 10.00% Pooling Percent 0.00% Bonds Note (Pay-As-You-Go) Bonds Dated Note Dated 07115107 Bond Issue @ 0.00%(NIC) Note Rate 6.00% Eligible Project Costs Note Amount $12,500,000 Present Value Date& Rate 07/15/07 6.00% Notes *Original net tax capacity estimated assuming current classification of property as blend of residential and commercial. Future base tax capacity may be adjusted as future developments occur. Assumptions include no future changes to the property tax system, class rates and tax rate. Includes preliminary 2007 tax rates provided by County and 2.5%annual market value inflator. Proposed construction schedule commencing in 2008 for all types of development(residential and commercial) and is staggered over an 8-10 year period SPRINGSTED