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Centerville TIF 1-8
<br />June 5, 2024
<br />Page 6
<br />Exhibit B
<br />City of Centerville
<br />Tax Increment Financing District No. 1-8 (Redevelopment)
<br />Centerville - Westview St.
<br />Projected Tax Increment Financing (TIF) Cash Flow
<br />Taxable Less
<br />TIF Taxes Captured Original PV TIF Net PV Net
<br />Market Captured State Available
<br />District Payable Tax Tax Available Retained Available Available
<br />Value TIFAuditor TIF
<br />YearYearCapacityRateTIFby City TIFTIF
<br />(TMV)Fee
<br />12028 24,890,440300,10994.30%282,988(1,019)281,969257,58114,098267,871244,702
<br />22029 25,139,344303,22094.30%285,921(1,029)284,892505,29214,245270,647480,027
<br />32030 25,390,738306,36294.30%288,884(1,040)287,844743,50914,392273,452706,334
<br />42031 25,644,645309,53694.30%291,877(1,051)290,826972,59714,541276,285923,968
<br />52032 25,901,092312,74294.30%294,900(1,062)293,8381,192,90514,692279,1461,133,260
<br />62033 26,160,103315,98094.30%297,953(1,073)296,8801,404,76814,844282,0361,334,530
<br />72034 26,421,704319,25094.30%301,036(1,084)299,9521,608,50914,998284,9551,528,084
<br />82035 26,685,921322,55294.30%304,151(1,095)303,0561,804,43915,153287,9031,714,217
<br />92036 26,952,780325,88894.30%307,296(1,106)306,1901,992,85615,309290,8801,893,214
<br />102037 27,222,308329,25794.30%310,473(1,118)309,3552,174,04915,468293,8882,065,347
<br />112038 27,494,531332,66094.30%313,682(1,129)312,5532,348,29315,628296,9252,230,878
<br />122039 27,769,476336,09794.30%316,922(1,141)315,7812,515,85415,789299,9922,390,062
<br />132040 28,047,171339,56894.30%320,196(1,153)319,0432,676,989101,368217,6762,500,000
<br />142041 28,327,643343,07494.30%323,501(1,165)322,3362,831,942322,3362,500,000
<br />152042 28,610,919346,61594.30%326,840(1,177)325,6632,980,952325,6632,500,000
<br />TOTAL = 4,566,620(16,440)4,550,1802,980,952928,5243,621,6562,500,000
<br />Key Assumptions for Cash Flow:
<br />1 Taxable market value (TMV) annual growth assumption = 1.0%
<br />2Original Tax Capacity Rate estimated based on Taxes Payable Year 2024.
<br />3Election for captured tax capacity is 100.00%
<br />4Base Tax Capacity is calculated based on a TMV = $881,742.
<br />5Present Value (PV) is calculated based on semi-annual payments, 5.0% rate, and based on estimated date of 1/1/2027.
<br />6TMV is based on 104-home market rate apartment project and estimated TMV by the city assessor of $24,400,000 for
<br />tax year 2024. The TMV for Taxes Payable Year 2028 is adjusted for the assumed annual growth assumption of 1.0%.
<br />7City elects for first year of TIF to be 2028.
<br />8Available TIF is after deducting state auditor fee (0.36%).
<br />9Net Available TIF is calculated at 95% of the Available TIF.
<br />10Election for fiscal disparities to be paid from inside of the TIF District (option "B"). Fiscal disparities applies to
<br />commercial development only. The current TIF Plan includes residential development only. Future modification to the
<br />TIF Plan may include commercial development.
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