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<br />e <br /> <br />e <br /> <br />. <br /> <br />cannot reasonably be expected <br />private investment within the <br />future. Therefore, the use <br />assistance is deemed necessary. <br /> <br />to occur solely through <br />reasonably foreseeable <br />of Tax Increment Financing <br /> <br />This determination has been made based on the following: <br />- The extraordinary site preparation costs associated <br />with this redevelopment project, due to the existing <br />substandard improvements currently occupying the <br />site, prohibits private investment from occurring on <br />its own initiative. By virtue of its ownership since <br />July, 1991, the Elk River EDA has without success <br />attempted to attract private investment at the <br />redevelopment site. Therefore, public participation, <br />in the form of tax increment assistance, is required <br />in order for this redevelopment project to occur. <br /> <br />I. PARCELS INCLUDED IN TAX INCREMENT FINANCING DISTRICT NO. 12 <br /> <br />Tax Increment Financing District No. 12 is comprised of <br />two land parcels. They are listed below: <br /> <br />Parcel <br /> <br />1993 Original <br />Net Tax Capacity <br /> <br />1992 EMV Pay 1993 <br /> <br />$ 59,200 <br />$ 59,200 <br /> <br />$0 (Tax Exempt) <br />$0 (Tax Exempt) <br /> <br />75-404-0150 <br />75-404-0151 <br /> <br />Please refer to <br />Certification of <br />District No. 12. <br /> <br />Exhibit C for the County Auditor <br />this parcel in Tax Increment Financing <br />