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Assum tions Re ort <br />City of Roseville, Minnesota <br />Tax Increment Financing (Housing) District No. 18 <br />Proposed Har Mar Apartments Project <br />TIF Plan Exhibits: $12.2M EMV - Full 25+ years <br />Type of Tax Increment Financing District Housing <br />Maximum Duration of TIF District 25 years from 1st increment <br />Projected Certification Request Date <br />Decertification Date <br />Base Estimated Market Value <br />Original Net Tax Capacity <br />Exhibit 11 <br />06/30/09 <br />12/31/38 (26 Years of Increment) <br />2008/2009 <br />$5, 000, 000 <br />$39,286 <br />Assessment/Collection Year <br />2009/2010 2010/2011 2011 /2012 2012/2013 <br />Base Estimated Market Value $5,000,000 $5,000,000 $5,000,000 $5,000,000 <br />Estimated Decrease in Value - Bldg Demo ($0) ($0) ($0) <br />Estimated Increase in Value - New Construction 0 0 3,721,865 5,352,835 <br />Total Estimated Market Value <br />Total Net Tax Capacity <br />City of Roseville <br />Ramsey County <br />ISD #623 <br />Other <br />Local Tax Capacity Rate <br />Fiscal Disparities Contribution From TIF District <br />Administrative Retainage Percent (maximum = 10%) <br />Pooling Percent <br />Bonds <br />Bonds Dated <br />Bond Issue @ 0.00% (NIC) <br />Eligible Project Costs <br />Present Value Date & Rate <br />Present Value Date & Rate <br />5, 000, 000 5, 000, 000 8, 721, 865 <br />$39,286 $39,286 $69,036 <br />24.545% <br />46.546% <br />10.624% <br />8.133% <br />89.848% 2008/2009 <br />NA <br />10.00% <br />0.00% <br />Note (Pav-As-You-Go) <br />NA Note Dated 02/01/10 <br />$0 Note Rate 4.50% <br />$0 Note Amount $913,610 <br />06/30/09 4.50% PV Amount $909,776 <br />06/30/09 5.00% PV Amount $841,743 <br />Notes <br />Calculation assumes no changes to future tax rates, class rates, or market values. <br />Construction schedule: Phase 1 25% renovated by Dec. 31, 2009 and 100% by Dec. 31, 2010. <br />Phase 2 40% constructed by Dec. 31, 2011 and 100% by Dec. 31, 2012. <br />Payable 2009 Tax Rates and Class Rates were provided by Ramsey County. <br />Total project value of $12.2M as provided by Ramsey County Assessor. <br />Base value of $5.OM for taxes payable 2009 - expected to be frozen for life of district. <br />includes a 2.5% market value inflator. <br />10, 352, 835 <br />$81,359 <br />SPRINGSTED Page 14 <br />