9 PCSR 02-23-1993 - Laserfiche WebLink

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• $0 . 00 . The County Auditor Certification attributable to this value is attached as Exhibit C. 5 . Estimated Captured Tax Capacity The finished market value upon completion of the improvements in Tax Increment Financing District No. 9 is estimated at $900,000. This value translates into a completed net tax capacity estimated at $41, 400 . The captured net tax capacity is estimated as follows : Completed Net Tax Capacity $41,400 Less Original Net Tax Capacity -0- Equals Captured Net Tax Capacity $41,400 One hundred percent of the captured net tax capacity of Tax Increment Financing District No. 9 will be required to finance the public costs associated with District No. 9 . As a result, the City of Elk River elects, pursuant to Minnesota Statute 469 . 177 Subdivision 2 (a) ( 1) , to retain the full captured net tax capacity of Tax Increment Financing District No. 9 . • 6 . Duration of the Tax Increment Financing District No. 9 The City of Elk River expects that the first increment it will receive from Tax Increment Financing District No. 9 will be for taxes payable in 1995 . This is based on a project with a completed value on January 1, 1994 . The City expects to continue to receive tax increment from Tax Increment District No. 9 up to and including 1999, or until $194 , 000 in Tax Increment has been received. Thereafter, no further increments may be received and Tax Increment District No. 9 will terminate. F. CASH FLOW ANALYSIS Attached as Exhibit D is the Cash Flow Analysis for Tax Increment District No. 9 . G. IMPACT ON OTHER LOCAL TAXING JURISDICTIONS 1 . Estimated Impact of District No. 9 on the Taxing Jurisdictions Assuming the Captured Net Tax Capacity 410 is Available to the Taxing Jurisdictions Without Creation of District No. 9 :