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3/19/2019Base Value Assumptions - Page 1New Brighton Elementary RedevelopmentCity of New Brighton, MN 354 apartments and 53 town homesASSUMPTIONS AND RATESDistrictType:RedevelopmentDistrict Name/Number:County District #:Exempt Class Rate (Exempt)0.00%First Year Construction or Inflation on Value2019Commercial Industrial Preferred Class Rate (C/I Pref.)Existing District - Specify No. Years RemainingFirst $150,0001.50%Inflation Rate - Every Year:3.00%Over $150,0002.00%Interest Rate:4.00%Commercial Industrial Class Rate (C/I)2.00%Present Value Date:1-Aug-20Rental Housing Class Rate (Rental)1.25%First Period Ending1-Feb-21Affordable Rental Housing Class Rate (Aff. Rental)Tax Year District was Certified:Pay 2019First $139,000 0.75%Cashflow Assumes First Tax Increment For Development: 2021 Over $139,000 0.25%Years of Tax Increment 26 Non-Homestead Residential (Non-H Res. 1 Unit)Assumes Last Year of Tax Increment2046First $500,0001.00%Fiscal Disparities Election [Outside (A), Inside (B), or NA]Inside(B)Over $500,0001.25%Incremental or Total Fiscal DisparitiesIncrementalHomestead Residential Class Rate (Hmstd. Res.)Fiscal Disparities Contribution Ratio34.4780% Pay 2019 First $500,0001.00%Fiscal Disparities Metro-Wide Tax Rate143.9920% Pay 2019 Over $500,0001.25%Maximum/Frozen Local Tax Rate:124.538% Pay 2019 Agricultural Non-Homestead1.00%Current Local Tax Rate: (Use lesser of Current or Max.) 124.538% Pay 2019 State-wide Tax Rate (Comm./Ind. only used for total taxes) 42.4160% Pay 2019 Market Value Tax Rate (Used for total taxes)0.18765% Pay 2019 BuildingTotal PercentageTax Year Property CurrentClassAfterLand MarketMarket Of Value Used Original OriginalTaxOriginalAfterConversionMap ID PIDOwner Address Market Value ValueValue for District Market Value Market Value Class Tax Capacity Conversion Orig. Tax Cap.129.30.23.13.0021 City701 8th Ave NW 1,481,000 1,203,700 2,684,70070% 1,879,290 Pay 2019 Exempt-Hmstd. Res.22,241TH129.30.23.13.0021 City701 8th Ave NW 1,481,000 1,203,700 2,684,70030% 805,410 Pay 2019 Exempt-Aff. Rental6,041Sr. Apt2D29.30.23.13.0020 CityUnassigned 344,1000344,100100% 344,100 Pay 2019 Exempt-Aff. Rental2,581Sr. Apt3D29.30.23.13.0022 City629 Old Hwy, 80 525,000525,000100% 525,000 Pay 2019 Exempt-Aff. Rental3,938WF Apt4D29.30.23.13.0023 City609 Old Hwy, 8 354,0000354,000100% 354,000 Pay 2019 Exempt-Aff. Rental2,655WF Apt529.30.23.13.0024 City700 5th Street NW2,282,6000 2,282,60010% 228,260 Pay 2019 Exempt-Aff. Rental1,712WF Apt629.30.23.13.0025Burrs Fam. Hold581 Old Hwy, 8220,500220,500100% 220,500 Pay 2019 Non-H Res. 1 Unit2,205Aff. Rental1,654WF Apt5,942,700 3,152,900 9,095,6004,356,5602,20540,821Note:1.Base values are for pay 2019 based upon review of County website on 3-19-20192.Located in SD #621 and R WatershedArea/ PhaseTax Rates BASE VALUE INFORMATION (Original Tax Capacity)Prepared by Ehlers & Associates, Inc. - Estimates OnlyN:\Minnsota\New Brighton\Housing - Economic - Redevelopment\TIF\TIF Districts\TIF 34 - New Brighton Elementarty Redevelopment\TIF Plan Documents\TIF Plan Run - FINAL Revised
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