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The original tax capacity and project tax capacity are estimated at current market values and class <br /> • rates to be the total amount when all development is in place and uses of the property have <br /> changed. <br /> Estimated Project Tax Capacity 44,000 <br /> less Original Tax Capacity 0 <br /> Estimated Captured Tax Capacity 44,000 <br /> L. DURATION OF THE DISTRICT <br /> Pursuant to Minnesota Statutes, Section 469.175, Subdivision 1, the duration of District No. 16 <br /> must be indicated within the Plan. The duration of District No. 16 will be 25 years from payment <br /> of the first tax increment expected in 1999. Thus, it is estimated that District No. 16, including any <br /> modifications of the Plan for subsequent phases or other changes, would terminate at the end of the <br /> year 2023. The City and the Authority reserve the right to decertify District No. 16 prior to the <br /> legally required date. <br /> M. ESTIMATED IMPACT ON OTHER TAXING JURISDICTIONS <br /> The estimated impact on other taxing jurisdictions assumes construction would have occurred <br /> without the creation of District No. 16. After careful consideration and analysis, the Authority has <br /> determined that construction would not occur without the creation of District 16. If the <br /> construction is a result of tax increment financing, the impact is $0 to other entities. <br /> Notwithstanding the fact that the fiscal impact on the other taxing jurisdictions is $0 due to the fact <br /> • that the construction would not have occurred without the assistance of the city, the following <br /> estimated impact of District No. 16 would be as follows if the "but for" test was not met: <br /> IMPACT ON TAX BASE <br /> ENTITY'S % OF CAPTURED <br /> TOTAL NET CAPTURED TAX CAPACITY <br /> ENTITY TAX CAPACITY TAX CAPACITY TO ENTITY TOTAL <br /> Sherburne County 57,579,856 44,000 0.076% <br /> City of Elk River 10,694,856 44,000 0.411% <br /> School District No. 728 22,502,787 44,000 0.196% <br /> IMPACT ON TAX RATES <br /> CURRENT CAPTURED POTENTIAL <br /> ENTITY TAX RATE TAX CAPACITY TAXES <br /> Sherburne County .23574 44,000 10,373 <br /> City of Elk River .24033 44,000 10,575 <br /> School District No. 728 .54530 44,000 23,993 <br /> Other .01360 44,000 598 <br /> • TOTAL 1.03497 45,539 <br /> Tax Increment Financing District No.16 Page I1-6 <br />