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Attachment 5.3 Estimated TIF Revenue Attachment 5.3 Union District Urban Renewal Project Estimated Tax Increment Yield Funding for Initial Total Annual New Cum. New Cumulative Increment Levy Tax District Land Value Taxable Capital Year Improvement Assessed Const. Value Const Value + Homeowners' Value (H - Rate Increment Operating (+1% annually) ValueProjects / ValueValue on tax rollInflation @ 2%ExemptionBase Value)(-10%)YieldExpense Debt Service 2020$ 216,380$ -$ 216,380$ -$ -$ -$ 216,380$ - 0.0065 2021$ 218,544$ -$ 218,544$ -$ -$ -$ 218,544$ - 0.0065$ -$ -$ - 2022$ 220,729$ -$ 220,729$ -$ -$ -$ 220,729$ - 0.0065$ -$ -$ - 2023$ 222,937$ -$ 222,937$ 70,747,000$ 70,747,000 $ -$ 70,969,937$ 68,825,5770.0065$ 447,366 $ 50,000 $ 397,366 2024$ 225,166$ -$ 225,166$ -$ 72,161,940 $ -$ 72,387,106$ 70,242,7460.0065$ 456,578 $ 50,000 $ 406,578 2025$ 227,418$ -$ 227,418$ 54,990,000$ 128,595,179$ -$ 128,822,596$ 126,678,236 0.0065$ 823,409 $ 50,000 $ 773,409 2026$ 229,692$ -$ 229,692$ -$ 131,167,082$ -$ 131,396,774$ 129,252,414 0.0065$ 840,141 $ 50,000 $ 790,141 2027$ 231,989$ -$ 231,989$ -$ 133,790,424$ -$ 134,022,413$ 131,878,053 0.0065$ 857,207 $ 50,000 $ 807,207 2028$ 234,309$ -$ 234,309$ 136,466,233$ -$ 136,700,541$ 134,556,181 0.0065$ 874,615 $ 50,000 $ 824,615 2029$ 236,652$ -$ 236,652$ -$ 139,195,557$ -$ 139,432,209$ 137,287,849 0.0065$ 892,371 $ 50,000 $ 842,371 2030$ 239,018$ -$ 239,018$ -$ 141,979,468$ -$ 142,218,486$ 140,074,126 0.0065$ 910,482 $ 50,000 $ 860,482 2031$ 241,408$ -$ 241,408$ -$ 144,819,058$ -$ 145,060,466$ 142,916,106 0.0065$ 928,955 $ 50,000 $ 878,955 2032$ 243,822$ -$ 243,822$ -$ 147,715,439$ -$ 147,959,261$ 145,814,901 0.0065$ 947,797 $ 50,000 $ 897,797 2033$ 246,261$ -$ 246,261$ -$ 150,669,748$ -$ 150,916,008$ 148,771,648 0.0065$ 967,016 $ 50,000 $ 917,016 2034$ 248,723$ -$ 248,723$ -$ 153,683,143$ -$ 153,931,866$ 151,787,506 0.0065$ 986,619 $ 50,000 $ 936,619 2035$ 251,210$ -$ 251,210$ -$ 156,756,805$ -$ 157,008,016$ 154,863,656 0.0065$ 1,006,614$ 50,000 $ 956,614 2036$ 253,723$ -$ 253,723$ -$ 159,891,942$ -$ 160,145,664$ 158,001,304 0.0065$ 1,027,008$ 50,000 $ 977,008 2037$ 256,260$ -$ 256,260$ -$ 163,089,780$ -$ 163,346,040$ 161,201,680 0.0065$ 1,047,811$ 50,000 $ 997,811 2038$ 258,822$ -$ 258,822$ -$ 166,351,576$ -$ 166,610,398$ 164,466,038 0.0065$ 1,069,029$ 50,000 $ 1,019,029 2039$ 261,411$ -$ 261,411$ -$ 169,678,607$ -$ 169,940,018$ 167,795,658 0.0065$ 1,090,672$ 50,000 $ 1,040,672 2040$ 264,025$ -$ 264,025$ -$ 173,072,180$ -$ 173,336,204$ 171,191,844 0.0065$ 1,112,747$ 50,000 $ 1,062,747 $ 125,737,000$ 16,286,436 $ 15,386,436 Attachment 5.3 Union District Urban Renewal Project Estimated Tax Increment Yield Assumptions: Values based on Ada County Assesor 2019 Data (latest certified numbers) 20% of Parcel R7596000545 included in development parcel Included portion of Parcel R7596000545 rezoned to Old Town from Light Industrial to be consistent with other included parcels Value of included portion of R7596000545 adjusted to reflect average assessed value of other two parcels - ($8.63 / sq. Ft.) Land values inflate at 1% per year Existing structures will be demolished and have no value Improvement values inflate at 2% per year Tax Rate remains constant through life of the District with 10% reduction from 2019 rate New construction values based upon estimates Residential units will not be owner occupied and thus not subject to the Homeowners Property Tax Exemption Residential units will all be market rate rental units District Operating Expenses estimated at $50,000/year Balance of Revenue Allcoation Yield will be available for capital investment and/or debt service Total balance ($12.39 m) not necessarily available for reimbursement to any developer - subject to negotiated OPA