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. : III
<br /> EXHIBIT E
<br /> IMPACT OF TAX INCREMENT FINANCING DISTRICT NO. 12
<br /> ON OTHER MAJOR TAXING JURISDICTIONS
<br /> City of Elk River,Minnesota
<br /> Without Project With Project
<br /> Projected Negative
<br /> 1994/95 1994/95 1994/95 1994/95 Projected New Tax 1994/95 Adjusted Tax Capacity Captured Impact On
<br /> Tax Capacity Ad Valorem Tax Capacity Tax Capacity Captured Tax Capacity Ad Valorem Tax Capacity Rate Tax Capacity Other Taxing
<br /> Value Taxes Levied Rate Value Capacity Value Value Taxes Levied Rate Impact Value Jurisdictions
<br /> City of Elk River $9,324,360 $2,223,347 23.958% $9,324,360 $23,010 $9,347,370 $2,223,347 23.785 0.173 $23,010 $5,472
<br /> Sherburne County $54,255,803 $12,128,779 22.380% $54,255,803 $23,010 $54,278,813 $12,128,779 22.345 0.035 $23,010 $5,141
<br /> ISD 728 $19,431,867 $11,032,065 56.511% $19,431,867 $23,010 $19,454,877 $11,032,065 56.443 0.068 $23,010 $12,988
<br /> Other 1.398% $23,010 1.398 $23,010 $321
<br /> TOTALS 104.247 103.971 0.276% $23,922
<br /> STATEMENT 1: The 1994/95 tax capacity value times the 1994/95 tax capacity rate produces 1994/95 taxes generated. If the captured tax capacity value was
<br /> available to each taxing jurisdiction,the result would be a lower or adjusted tax capacity rate which would produce the same amount of taxes.
<br /> Thus,with the addition of captured value of$23,010,the tax capacity rate for the above-selected major taxing jurisdictions would be reduced
<br /> by a rate of.276%to an adjusted tax capacity of 103.971%. The captured tax capacity times the adjusted tax capacity rate of 103.971%
<br /> would generate$23,922 in increment income,which represents the loss of new revenues if the development had not occurred without inclusion
<br /> 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 on the taxes heretofore levied,and
<br /> therefore,no impact on tax capacity rates.
<br /> NOTE: The impact on"other"taxing jurisdictions is negligible since those jurisdictions represent approximately 1.0%of the overall tax levy
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