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total assessed value increases at the same three percent (3%) <br /> per year rate as the original assessed value of the TIF • <br /> District) , the estimated captured assessed value for each year <br /> of the TIF District, and the percentage impact of the estimated <br /> captured assessed value on the estimated total assessed value. <br /> 2 . Estimated Impact of the TIF District on Assessed <br /> Values of Other Taxing Jurisdictions Assuming That <br /> None of the Captured Assessed Value Would be Available <br /> to Other Taxing Jurisdictions Without Creation of TIF <br /> District No. 5 . <br /> The City Council of the City of Elk River has made a <br /> determination that the Alltool project would not reasonably be <br /> expected to occur without creation of TIF District No . 5 and <br /> the use of tax increment financing. Therefore, none of the <br /> assessed value captured for the eight ( 8 ) years of the TIF <br /> District would be available to other taxing jurisdictions • <br /> without the creation of TIF District No . 5 . Therefore, there <br /> is no negative impact on the assessed values of other taxing <br /> jurisdictions during the term of the TIF District, particularly <br /> in light of the fact that the original assessed value of the <br /> properties in the TIF District will increase by three percent <br /> ( 3% ) per year. <br /> There will be a substantial favorable impact on other <br /> taxing jurisdictions once the eight ( 8 ) year tax increment <br /> district expires . The Alltool facility made possible by <br /> creation of the TIF District will contribute significantly to <br /> the tax base of all taxing jurisdictions , including the County <br /> and School Board. <br /> • <br /> 13 . <br />