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• 5. Estimated Captured Tax Capacity <br /> The finished market value upon completion of the <br /> improvements in Tax Increment Financing District No. 14 is <br /> estimated at $400,000. This value translates into a completed <br /> net tax capacity estimated at $16,800. The captured net tax <br /> capacity is estimated as follows: <br /> Completed Net Tax Capacity $16,800 <br /> Less Original Net Tax Capacity 2.300 <br /> Equals Captured Net Tax Capacity $14,500 <br /> One hundred percent of the captured net tax capacity of Tax <br /> Increment Financing District No. 14 will be required to finance <br /> the public costs associated with District No. 14. As a result, the <br /> City of Elk River elects, pursuant to Minnesota Statute 469.177 <br /> Subdivision 2 (a)(1), to retain the full captured net tax capacity <br /> of Tax Increment Financing District No. 14. <br /> 6. Duration of the Tax Increment Financing District No. 14 <br /> The City of Elk River expects that the first increment it will <br /> receive from Tax Increment Financing District No. 14 will be for <br /> taxes payable in 1998, and will be based on a completed value as <br /> of January 2, 1997. The City expects to continue to receive tax <br /> increment from Tax Increment District No. 14 up to and <br /> • including the year 2002, or until approximately $65,100 in tax <br /> increment has been received. Thereafter, no further increments <br /> may be received and Tax Increment Financing District No. 14 <br /> will terminate. <br /> F. CASH FLOW ANALYSIS <br /> Attached as Exhibit D is the Cash Flow Analysis for Tax Increment <br /> Financing District No. 14. <br /> G. IMPACT ON OTHER LOCAL TAXING JURISDICTIONS <br /> 1. Estimated Impact of District No. 14 on the Taxing Jurisdictions <br /> Assuming the Captured Net Tax Capacity is Available to the <br /> Taxing Jurisdictions Without Creation of District No. 14: <br /> Pursuant to Minnesota law, tax increment generated by <br /> development within the Tax Increment Financing District may <br /> be captured by the City for a period of up to eight years. During <br /> this period other taxing jurisdictions will continue to receive <br /> taxes from the property within the Tax Increment Financing <br /> District based on the current net tax capacity. <br /> • <br />