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<br /> EXHIBIT E
<br /> IMPACT OF TAX INCREMENT FINANCING DISTRICT NO. 9
<br /> ON OTHER MAJOR TAXING JURISDICTIONS
<br /> City of Elk River, Minnesota
<br /> Impact of Tax Increment Financing District No. 9
<br /> On Other Major Taxing Jurisdictions
<br /> Without Project With Project
<br /> 1992/93 1992/93 1992/93 1992/93 Projected 1992/93 Adjusted Tax Projected Negative
<br /> Tax Ad Valorem Tax Tax Captured New Tax Ad Valorem Tax Capacity Captured Impact On
<br /> Capacity Taxes Capacity Capacity Tax Capacity Capacity Taxes Capacity Rate Tax Capacity Other Taxing
<br /> Value Levied Rate Value Value Value Levied Rate Impact Value Jurisdictions
<br /> (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11)
<br /> City of
<br /> Elk River $ 7,928,363 $ 1,567,370 20.56 % $ 7,928,363 $41,400 $ 7,969,763 $ 1,567,370 19.666% .894% $ 41,400 $ 8,142
<br /> Sherburne County 51,850,407 10,298,271 19.883 51,850,407 41,400 51,891,807 10,298,271 19.846 .037 41,400 8,216
<br /> ISD 728 15,301,069 9,365,109 61.209 15,301,069 41,400 15,342,469 9,365,109 61.040 .169 41,400 25,270
<br /> Other 1.373 41,400 1.373 41,400 568
<br /> Totals 103.025% 101.925% 1.10% $ 42,196
<br /> Statement 1: The 1992/93 tax capacity value times the 1992/93 tax capacity rate produces 1992/93 taxes generated.
<br /> If the captured tax capacity value was available to each taxing jurisdiction, the result would be a
<br /> lower or adjusted tax capacity rate which would produce the same amount of taxes. Thus, with the
<br /> addition of captured value of $41,400, the tax capacity rate for the above selected major taxing
<br /> jurisdictions would be reduced by a rate of 1.10% to an adjusted tax capacity rate of 101.925%. The
<br /> captured tax capacity value times the adjusted tax capacity rate of 101.925% would generate $42,196 in
<br /> increment income, which represents the loss of new tax revenues if the development had not occurred
<br /> without inclusion in a tax increment district.
<br /> Statement 2: If no captured tax capacity value is available to each of the taxing jurisdictions, there is no impact
<br /> on the taxes heretofore levied and, therefore, no impact on tax capacity rates.
<br /> NOTE: The impact on other taxing jurisdictions is negligible since those jurisdictions represent approximately 1.0%
<br /> of the overall tax levy.
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