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TAX INCREMENT FINANCING (ECONOMIC DEVELOPMENT) DISTRICT NO. 1 -7
<br />Exhibit 11
<br />Centerville
<br />Tax Increment Financing District
<br />Projected Tax Increment
<br />Development Project
<br />ADOPTED ( 13
<br />Assumed
<br />100.00%
<br />10.00%
<br />0.36%
<br />Available
<br />Total
<br />TIF
<br />Taxes
<br />New
<br />Erase
<br />Fiscal
<br />Captured
<br />Original
<br />Estimated
<br />State
<br />Annual
<br />PV of Est
<br />District Value Payable
<br />Tax
<br />Tax
<br />Disparities
<br />Tax
<br />Tax
<br />Tax
<br />City
<br />Auditor
<br />Tax
<br />Avail. Tax Incr.
<br />Year
<br />Year Year
<br />Capacity,
<br />Capacity
<br />Contribution
<br />Capacity
<br />Rate
<br />Increment
<br />Admin.
<br />Deduct
<br />Increment
<br />4.00%
<br />1
<br />2014 2015
<br />26,250
<br />(3,036)
<br />(9,663)
<br />13,551
<br />156.326%
<br />21,183
<br />(2,118)
<br />(76)
<br />18,988
<br />20,496
<br />2
<br />2015 2016
<br />26,381
<br />(3,036)
<br />(9,718)
<br />13,627
<br />156.326%
<br />21,303
<br />(2,130)
<br />(77)
<br />19,096
<br />38,256
<br />3
<br />2016 2017
<br />26,513
<br />(3,036)
<br />(9,773)
<br />13,704
<br />156.326%
<br />21,423
<br />(2,142)
<br />(77)
<br />19,204
<br />55,422
<br />4
<br />2017 2018
<br />26,646
<br />(3,036)
<br />(9,828)
<br />13,782
<br />156.326%
<br />21,544
<br />(2,154)
<br />(78)
<br />19,312
<br />72,014
<br />5
<br />2018 2019
<br />26,779
<br />(3,036)
<br />(9,884)
<br />13,859
<br />156.326-/
<br />21,666
<br />(2,167)
<br />(78)
<br />19,421
<br />88,053
<br />6
<br />2019 2020
<br />26,913
<br />(3,036)
<br />(9,939)
<br />13,937
<br />156.326
<br />21,788
<br />(2,179)
<br />(78)
<br />19,531
<br />103,556
<br />7
<br />2020 2021
<br />27,047
<br />(3,036)
<br />(9,995)
<br />14,016
<br />156.326%
<br />21,911
<br />(2,191)
<br />(79)
<br />19,641
<br />118,540
<br />8
<br />2021 2022
<br />27,183
<br />(3,036)
<br />(10,052)
<br />14,095
<br />156.326%
<br />22,034
<br />(2,203)
<br />(79)
<br />19,751
<br />133,024
<br />9
<br />2022 2023
<br />27,319
<br />(3,036)
<br />(10,108)
<br />14,174
<br />156.326%
<br />22,158
<br />(2,216)
<br />(80)
<br />19,862
<br />147,024
<br />TOTAL =
<br />195,010
<br />(19,501)
<br />(702)
<br />174,807
<br />Key Asssumotions
<br />1 Base estimated market
<br />value of property assumed to increase by
<br />0.50% annually.
<br />2 Property Tax rate from
<br />Anoka County, Final Pay
<br />2012 Tax Rates Report
<br />3 Base value = $202,400 from combined two parcels, 2.78 acres at Anoka County's pay 2012 estimated market value of $1.67 /acre, CI classification.
<br />4 New value = $1,400,000 (20,000 of Bldg SF at $60 /SF plus estimated average land value of $1.48 /SF).
<br />ADOPTED ( 13
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