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410 The County Auditor Certification attributable to this <br /> value is attached as Exhibit C. <br /> 5 . Estimated Captured Tax Capacity <br /> The finished market value upon completion of the <br /> improvements in Tax Increment Financing District No. <br /> 12 is estimated at $625,000 . This value translates <br /> into a completed net tax capacity estimated at <br /> $27 , 150. The captured net tax capacity is estimated <br /> as follows : <br /> Completed Net Tax Capacity $27, 150 <br /> Less Original Net Tax Capacity -0- <br /> Equals Captured Net Tax Capacity $27, 150 <br /> One hundred percent of the captured net tax capacity <br /> of Tax Increment Financing District No. 12 will be <br /> required to finance the public redevelopment costs <br /> associated with District No. 12 . As a result, the <br /> City of Elk River elects, pursuant to Minnesota <br /> Statute 469 . 177 Subdivision 2 (a) ( 1) , to retain the <br /> full captured net tax capacity of Tax Increment <br /> Financing District No. 12 . <br /> 6 . Duration of the Tax Increment Financing District No. <br /> 12 <br /> The City of Elk River expects that the first <br /> increment it will receive from Tax Increment <br /> Financing District No. 12 will be for taxes payable <br /> in 1996 , and will be based on a completed value as of <br /> January 2, 1995. The City expects to continue to <br /> receive tax increment from Tax Increment District No. <br /> 11 up to and including 2006, or until the project <br /> debt of $195,000 has been repaid. Thereafter, no <br /> further increments may be received and Tax Increment <br /> District No. 12 will terminate. <br /> F. CASH FLOW ANALYSIS <br /> Attached as Exhibit D is the Cash Flow Analysis for Tax <br /> Increment District No. 12 . <br />