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Section L Estimated Sources of Revenue Tax Increment revenue Interest on invested funds BondlNote proceeds Real estate sales Other Total City of Roseville, Minnesota $2,194,615 25,000 0 0 0 $2,219, 615 The City anticipates providing financial assistance to the proposed development on a pay-as-you-go technique. Under the pay-as-you-go scenario, future tax increments received from the property within the TIF District are distributed to the developerlowner as reimbursement for public costs incurred (see Section K). The City reserves the right to finance any or all public costs of the TIF District using pay-as-you-go assistance, internal funding, general obligation or revenue debt, or any other financing mechanism authorized by law. The City also reserves the right to use other sources of revenue legally applicable to the Project Area to pay for such costs including, but not limited to, special assessments, utility revenues, federal or state funds, and investment income. Section M Estimated Amount of Bonded Indebtedness The City does not anticipate issuing tax increment bonds to finance the estimated public costs of the TIF District. However it reserves the right to issue an amount that would not exceed $1,005,000 ($913,610 plus 10% overage). Section N Original Net Tax Capacity The County Auditor shall certify the original net tax capacity of the TIF District. This value will be equal to the total net tax capacity of all property in the TIF District as certified by the State Commissioner of Revenue. For districts certified between January 1 and June 30, inclusive, this value is based on the previous assessment year. For districts certified between July 1 and December 31, inclusive, this value is based on the current assessment year. The Estimated Market Value of all property within the TIF District as of January 2, 2008, for taxes payable in 2009, is $5,000,000. Upon establishment of the TIF District, and subsequent reclassification of a portion of the property to rental from affordable rental, it is estimated that the original net tax capacity of the TIF District will be approximately $39,286. Each year the County Auditor shall certify the amount that the original net tax capacity has increased or decreased as a result of: (1) �2) (3) (4) changes in the tax-exempt status of property; reductions or enlargements of the geographic area of the TI F District; changes due to stipulation agreements or abatements; or changes in property classification rates. SPRINGSTED Page 6