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APARTMENT RENTER
<br />A $20,000,000 apartment complex would see an increase of:
<br />• $329.00 per month on their utility bill under an electric -only franchise fee, assuming the apartment complex is metered similarly
<br />to a commercial property -or-
<br />* $383.57 per month on their property tax bill. The property tax levy would impact each rental unit differently, based upon the
<br />number of units per apartment building.
<br />Note: The franchise fee increase would be dependent upon how the property is metered. For example, if an apartment
<br />building has a single meter, it would be treated as a commercial property and would be assessed the commercial rate.
<br />If each unit has a separate meter, then each resident would be assessed the residential rate.
<br />The City has made assumptions on property classification in the below table.
<br />MONTHLY Impact on Apartment Renters
<br />Cost per Home
<br />Preliminary
<br />Cost per Unit
<br />Franchise Fee
<br />Property Tax
<br />Property Tax
<br />Property Tax
<br />Market Value
<br />A
<br />- Electric Only
<br />Increase
<br />Increase
<br />Est. Per Unit Increase
<br />Est.#of Units
<br />Property Name
<br />$
<br />537,700
<br />$
<br />4.00
<br />$
<br />8.44
<br />$
<br />6.19
<br />$ 2.11
<br />4
<br />Meatballs Properties (4-Plex)
<br />$
<br />5,687,300
<br />$
<br />22.00
<br />$
<br />107.69
<br />$
<br />107.36
<br />$ 2.91
<br />37
<br />Parkshore
<br />$
<br />8,820,700
<br />$
<br />22.00
<br />$
<br />168.09
<br />$
<br />168.68
<br />$ 2.80
<br />60
<br />Cottage Villas of Arden Hills
<br />$
<br />14,012,400
<br />$
<br />329.00
<br />$
<br />268.16
<br />$
<br />270.26
<br />$ 4.47
<br />60
<br />Arden Flats
<br />$
<br />20,000,000
<br />$
<br />329.00
<br />$
<br />383.57
<br />$
<br />387.41
<br />$ 2.63
<br />146
<br />New Perspective Senior Living
<br />$
<br />24,653,500
<br />$
<br />329.00
<br />$
<br />473.26
<br />$
<br />478.10
<br />$ 2.64
<br />179
<br />Round Lake Senior Living
<br />$
<br />39,309,300
<br />$
<br />329.00
<br />$
<br />755.75
<br />$
<br />765.22
<br />$ 1.84
<br />410
<br />Presbyterian Homes AH Inc
<br />This assumes a commercial rate is assessed on properties
<br />COMMERCIAL PROPERTY OWNERS
<br />A $9,666,600 commercial property owner would see an increase of:
<br />• $22.00 per month on their utility bill under an electric -only franchise fee -or-
<br />* $198.04 per month on their property tax bill
<br />Note: The franchise fee increase would be dependent upon the Public Utility Commissions' classification of the
<br />commercial property, which is based on utility usage.
<br />The City has made assumptions on property classification in the below table.
<br />MONTHLY Impact on Commercial Properties
<br />Cost
<br />per Home
<br />Preliminary
<br />Market
<br />Franchise Fee
<br />Property Tax
<br />Property Tax
<br />Value
<br />A-
<br />Electric Only
<br />Increase
<br />Increase
<br />Property Name
<br />$
<br />345,000
<br />$
<br />4.00
<br />$
<br />6.32
<br />$
<br />12.40
<br />Arden Ridge Office Park
<br />$
<br />1,347,400
<br />$
<br />4.00
<br />N/A
<br />N/A
<br />Presbyterian Homes Assisted Living
<br />$
<br />1,869,000
<br />$
<br />22.00
<br />$
<br />37.67
<br />$
<br />74.18
<br />Chick-fil-A
<br />$
<br />3,698,200
<br />$
<br />22.00
<br />$
<br />75.29
<br />$
<br />148.32
<br />Scherer Bros. Lumberyard, Sales & Design Center
<br />$
<br />9,666,600
<br />$
<br />22.00
<br />$
<br />198.04
<br />$
<br />390.22
<br />Office Building 3+Stories (HealthPartners, DaVita, etc.)
<br />$
<br />23,705,800
<br />$
<br />22.00
<br />N/A
<br />N/A
<br />Small Tax -Exempt Properties (38 Properties)
<br />$
<br />21,500,000
<br />$
<br />329.00
<br />$
<br />441.42
<br />$
<br />869.80
<br />Land O' Lakes
<br />$
<br />22,141,000
<br />$
<br />329.00
<br />N/A
<br />N/A
<br />North Heights Lutheran Church
<br />$
<br />38,612,400
<br />$
<br />329.00
<br />N/A
<br />N/A
<br />University of Northwestern St Paul
<br />$
<br />50,717,500
<br />$
<br />329.00
<br />$
<br />1,042.33
<br />$
<br />2,053.96
<br />Boston Scientific
<br />$
<br />114,557,000
<br />$
<br />329.00
<br />N/A
<br />N/A
<br />Bethel University
<br />$
<br />547,831,600
<br />$
<br />329.00
<br />N/A
<br />I
<br />N/A
<br />Large Tax -Exempt Properties (36 Properties)
<br />Franchise Fees Page 2
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