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• L. DURATION OF THE DISTRICT <br /> Pursuant to Minnesota Statutes, Section 469.175, Subdivision 1 b, the duration of District No. 21 <br /> must be indicated within the Plan. The duration of District No. 21 will be no more than nine years <br /> from payment of the first tax increment expected in 2002. Thus it is estimated that District No. 21, <br /> including any modifications of the Plan for subsequent phases or other changes, would terminate at <br /> the end of the year 2010. The City and the Authority reserve the right to decertify District No. 21 <br /> prior to the legally required date. <br /> M. ESTIMATED IMPACT ON OTHER TAXING JURISDICTIONS <br /> The estimated impact on other taxing jurisdictions assumes construction would have occurred <br /> without the creation of District No. 21. After careful consideration and analysis, the Authority has <br /> determined that construction would not occur without the creation of District No. 21. If the <br /> construction is a result of tax increment financing, the impact is $0 to other entities. <br /> Notwithstanding the fact that the fiscal impact on the other taxing jurisdictions is $0 due to the fact <br /> that the construction would not have occurred without the assistance of the City and Authority, the <br /> following estimated impact of District No. 21 would be as follows if the "but for" test was not met: <br /> IMPACT ON TAX BASE <br /> ENTITY'S ESTIMATED % OF CAPTURED <br /> IP <br /> ENTITY TOTAL NET CAPTURED TAX CAPACITY <br /> TAX CAPACITY TAX CAPACITY TO ENTITY TOTAL <br /> Sherburne County 59,143,714 105,604 .0018% <br /> City of Elk River 13,208,236 105,604 .0080% <br /> School District No. 728 17,985,332 105,604 .0059% <br /> IMPACT ON TAX RATES <br /> CURRENT PERCENT CAPTU RED POTE NTIAL <br /> ENTITY TAX RATE OF TOTAL TAX CAPACITY TAXES <br /> Sherburne County .31468 .26 105,604 33,231 <br /> City of Elk River .30248 .25 105,604 31,943 <br /> School District No. 728 .56027 .47 105,604 59,185 <br /> Other .01709 .01 105,604 1,805 <br /> TOTAL 1.19448 1.00 126,146 <br /> The estimates listed above display captured tax capacity when all construction is completed. The <br /> tax rates and tax capacities are the payable 2000 figures for all jurisdictions. District No. 21 will be <br /> certified under rates for tax year payable 2001 which were unavailable at the time of preparation of <br /> • this Plan. <br /> Tax Increment Financing District No.21 Page II-6 <br />