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City of Roseville, Minnesota Section 0 Original Tax Capacity Rate The County Auditor shall also certify the original tax capacity rate of the TIF District. This rate shall be the sum of all local tax rates that apply to property in the TIF District. This rate shall be for the same taxes payable year as the original net tax capacity. In future years, the amount of tax increment generated by the TIF District will be calculated using the lesser of (a) the sum of the current local tax rates at that time or (b) the original tax capacity rate of the TIF District. The sum of all local tax rates that apply to property in the TIF District, for taxes levied in 2008 and payable in 2009, was 89.848% as shown below. The County Auditor shall certify this amount as the original tax capacity rate of the TIF District. Section P Taxing Jurisdiction City of Roseville Ramsey County SD # »#623 Other Total Projected Retained Captured Net Tax Capacity and Projected Tax Increment Final 2008I2009 Local Tax Rate 24.545% 46.546% 10.624% 8.133% 89.848% The City anticipates that the project will be completed by December 31, 2012 creating a total tax capacity for TIF District No. 18 of $99,289 as of January 2, 2013. The captured tax capacity as of that date is estimated to be $60,003 and the first full year of tax increment is estimated to be $53,911 payable in 2014. A complete schedule of estimated tax increment from the TIF District is shown in Exhibit III. The estimates shown in this TIF Plan assume that affordable rental housing class rates remain at 0.75% of the estimated market value, market rate rental housing class rates remain at 1.25% of the estimated market value, and assume a 2.5% annual increase in market values. Each year the County Auditor shall determine the current net tax capacity of all property in the TIF District. To the extent that this total exceeds the original net tax capacity, the difference shall be known as the captured net tax capacity of the TIF District. The County Auditor shall certify to the City the amount of captured net tax capacity each year. The City may choose to retain any or all of this amount. It is the City's intention to retain 100% of the captured net tax capacity of the TIF District. Such amount shall be known as the retained captured net tax capacity of the TIF District. Exhibit II gives a listing of the various information and assumptions used in preparing a number of the exhibits contained in this TIF Plan. Exhibit III shows the projected tax increment generated over the anticipated life of the TIF District. Section Q Use of Tax Increment Each year the County Treasurer shall deduct 0.36% of the annual tax increment generated by the TIF District and pay such amount to the State's General Fund. Such amounts will be appropriated to the State Auditor for the cost of SPRINGSTED Page 7