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411 G. IMPACT ON OTHER LOCAL TAXING JURISDICTIONS <br /> 1 . Estimated Impact of District No. 12 on the Taxing <br /> Jurisdictions Assuming the Captured Net Tax Capacity <br /> is Available to the Taxing Jurisdictions Without <br /> Creation of District No. 12 : <br /> Pursuant to Minnesota law, tax increment generated by <br /> development within the Tax Increment Financing <br /> District may be captured by the City for a period of <br /> up to eight years . During this period other taxing <br /> jurisdictions will continue to receive taxes from the <br /> property within the Tax Increment Financing District <br /> based on the current net tax capacity. <br /> 2 . Estimated Impact of District No. 12 on the Taxing <br /> Jurisdictions Assuming None of the Captured Net Tax <br /> Capacity is Available to Taxing Jurisdictions Without <br /> Creation of District No. 12 : <br /> The Economic Development Authority of the City of Elk <br /> River has determined that the Kjellberg' s Carpet and <br /> Interiors redevelopment project would not reasonably <br /> be expected to occur without the creation of TIF <br /> District No. 12 and the use of tax increment <br /> • financing. Therefore, none of the net tax capacity <br /> captured during the term of this TIF District would <br /> be available to other taxing jurisdictions without <br /> the creation of this district. <br /> 3 . Additional information on the impact of Tax Increment <br /> Financing District No. 12 on the other local taxing <br /> jurisdictions can be found in Exhibit E. <br /> H. STUDIES AND ANALYSIS USED TO DETERMINE THE NEED FOR TAX <br /> INCREMENT FINANCING <br /> The Elk River EDA and City Council have determined that <br /> the Kjellberg' s Carpet and Interiors redevelopment project <br /> cannot reasonably be expected to occur solely through <br /> private investment within the reasonably foreseeable <br /> future. Therefore, the use of Tax Increment Financing <br /> assistance is deemed necessary. <br /> This determination has been made based on the following: <br /> - The extraordinary site preparation costs associated <br /> with this redevelopment project prohibits private <br /> investment from occurring on its own initiative. <br /> Therefore, public participation, in the form of tax <br /> increment assistance, is required in order for this <br /> redevelopment project to occur. <br />