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The County Auditor shall certify in each year after the date the ONTC was certified, the amount the ONTC has increased or decreased as a result of: 1. change in tax exempt status of property; 2. reduction or enlargement of the geographic boundaries of the district; 3. change due to stipulations, adjustments, negotiated or court-ordered abatements; 4. change in the use of the property and classification; or 5. change in state law governing class rates. K. AMOUNT OF CAPTURED TAX CAPACITY AND TAX RATE Pursuant to Minnesota Statutes, Section 469.174 Subdivision 4 and Minnesota Statutes, Section 469.177, Subdivision 1f and Subdivision 2, the estimated Captured Net Tax Capacity (CTC) of District No. 21, upon completion of Phase I of the project, will annually approximate tax increment revenues as shown in the table below. The City requests 100 percent of the available increase in tax capacity for repayment of debt and current expenditures, beginning in the tax year payable 2001. The original tax capacity and project tax capacity are estimated at current market values and class rates to be the total amount when all development is in place and uses of the property have changed. Original Estimated Project Tax Capacity (upon completion of project) $67,050 less: Original Tax Capacity 8,029 Estimated Captured Tax Capacity $59,021 Estimated Annual Tax Increment (CTC x Tax Rate) $65,811 L. DURATION OF THE DISTRICT Pursuant to Minnesota Statutes, Section 469.175, Subdivision 1 b, the duration of District No. 21 must be indicated within the Plan. The duration of District No. 21 will be 9 years from payment of the first tax increment expected in 2001. Thus it is estimated that District No. 21, including any modifications of the Plan for subsequent phases or other changes, would terminate at the end of the year 2009. The City and the Authority reserve the right to decertify District No. 21 prior to the legally required date. M. ESTIMATED IMPACT ON OTHER TAXING JURISDICTIONS The estimated impact on other taxing jurisdictions assumes construction would have occurred without the creation of District No. 21. After careful consideration and analysis, the Authority has determined that construction would not occur without the creation of District No. 21. If the construction is a result of tax increment financing, the impact is $0 to other entities. Notwithstanding the fact that the fiscal impact on the other taxing jurisdictions is $0 due to the fact that the construction would not have occurred without the assistance of the City, the following estimated impact of District No. 21 would be as follows if the "but for" test was not met: 411/ Tax Increment Financing District No.21 Page II-6