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<br />. <br /> <br />in 1996, and will be based on a completed value as of <br />January 2, 1995. The City expects to continue to <br />receive tax increment from Tax Increment District No. <br />11 up to and including 2009, or until the project <br />debt of $265,000 has been repaid. Thereafter, no <br />further increments may be received and Tax Increment <br />District No. 12 will terminate. <br /> <br />F. <br /> <br />CASH FLOW ANALYSIS <br /> <br />Attached as Exhibit D is the Cash Flow Analysis for Tax <br />Increment District No. 12. <br /> <br />G. IMPACT ON OTHER LOCAL TAXING JURISDICTIONS <br /> <br />1. <br /> <br />Estimated Impact of District No. 12 on the Taxing <br />Jurisdictions Assuminq the Captured Net Tax Capacity <br />is Available to the Taxing Jurisdictions Without <br />Creation of District No. 12: <br /> <br />e <br /> <br />Pursuant to Minnesota law, tax increment generated by <br />development within the Tax Increment Financing <br />District may be captured by the City for a period of <br />up to twenty-five years. Because of the current <br />tax-exempt status of the redevelopment site, no <br />property tax benefit is attributable to the local <br />taxing jurisdictions. <br /> <br />2. <br /> <br />Estimated Impact of District No. 12 on the Taxing <br />Jurisdictions Assuminq None of the Captured Net Tax <br />Capacity is Available to Taxinq Jurisdictions Without <br />Creation of District No. 12: <br /> <br />The Economic Development Authority of the City of Elk <br />River has determined that the Kjellberg's Carpet and <br />Interiors redevelopment project would not reasonably <br />be expected to occur without the creation of TIF <br />District No. 12 and the use of tax increment <br />financing. Therefore, none of the net tax capacity <br />captured during the term of this TIF District would <br />be available to other taxing jurisdictions without <br />the creation of this district. The local taxing <br />jurisdictions will receive positive benefits after <br />TIF District No. 12 is decertified. <br /> <br />3. Additional information on the impact of Tax Increment <br />Financing District No. 12 on the other local taxing <br />jurisdictions can be found in Exhibit E. <br /> <br />H. STUDIES AND ANALYSIS USED TO DETERMINE THE NEED FOR TAX <br />INCREMENT FINANCING <br /> <br />e <br /> <br />The Elk River EDA and City Council have determined that <br />the Kjellberg's Carpet and Interiors redevelopment project <br />