09-09-10 - Laserfiche WebLink

Home Browse Search

8/30 • Base Value Assumptior e 2 EHLERS a ASSOCIATES iNIC Presbyterian Homes City of Arden Hills 152 Senior Apartments and 50 Rental Brownstones PROJECT INFORMATION(Project Tax Capacity) •rope y •ercen age •ercen -ge •ercen age •ercen age irs 'ear Total Market Value Market Tax Project Completed Completed Completed Completed Full Taxes Area/Phase New Use Sq.Ft/Units Sq.Ft./Units Value Class Tax Capacity 2011 2012 2013 2014 Payable Existing Existing N.Home 208 138,762 28,862,400 Exempt 0 100% 100% 100% 100% 2013 1 Sr.Apt 152 100,000 15,200,000 Rental 190,000 40% 75% 100% 100% 2015 2 Rental TH 50 150,000 7,500,000 Rental 93,750 0% 0% 50% 100% 2016 rU 1AL 51,562,400 233,700 Subtotal Residential 410 51,662,400 283,750 Subtotal Commercial/Ind. 0 0 0 Note: 1.Market values are based upon estimates from Assessor. TAX CALCULATIONS o a isca oca oca isca a e-wi•e ,ar e Tax Disparities Tax Property Disparities Property Value Total Taxes Per New Use Capacity Tax Capacity Capacity Taxes Taxes Taxes Taxes Taxes Sq.Ft./Unit Existing N.Home 0 0 0 0 0 0 54,498 54,498 262.01 Sr.Apt 190,000 0 190,000 200,322 0 0 28,701 229,023 1,506.73 Rental TH 93,750 0 93,760 98,843 0 0 14,162 113,005 2,260.09 101AL 253,750 0 253,750 299,165 0 0 97,360 396,525— Note: 1. Taxes and tax increment will vary signficantiy from year to year depending upon values,rates,state law,fiscal disparities and other factors which cannot be predicted. WHAT IS EXCLUDED FROM TIF? ota •roperty axes less State-wide Taxes 0 less Fiscal Disp.Adj. 0 less Market Value Taxes (97,360) less Base Value Taxes 105,912) Annual Gross TIF 193,262 Prepared by Ehlers&Associates,Inc.-Estimates Only N:\Minnsota%rden Hilts\Housing-Economic-RedevelopmentlPending Projects 1Pres Homes and Library\Renovation Renewal TIE run 8.31.2010.0s