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EXHIBIT E
<br />IMPACT OF TAX INCREMENT FINANCING DISTRICT NO. 12
<br />ON OTHER MAJOR TAXING JURISDICTIONS
<br /> City of Elk River, Minnesota
<br />
<br />Without Project
<br />
<br />1995/96 1996 1996 1995/96 Projected
<br />Tax Capacity Ad Valorem Tax Capacity Tax Capacity Captured Tax
<br />Value Taxes Levied Rate Value Capacity Value
<br />
<br />With Project
<br />
<br />New Tax 1995/96 Adjusted Tax Capacity
<br />Capacity Ad Valorem Tax Capacity Rate
<br /> Value Taxes Levied Rate Impact
<br />
<br />City of Elk River I $10,694,856 $2,570,439 24.033% $10,694,856 $14,500 $10,709,356 $2,570,439 24.002 0.031
<br />Sherburne County I $57,579,856 $13,555,651 23.574% $57,579,856 $14,500 $57,594,356 $13,555,651 23.536 0.038
<br />ISD728 1522'502'787 $12,305,019 54.530% $22,502,787 $14,500 $22,517,287 $12,305,019 54.495 0.035
<br />Other ~ 1.360% $14,500 0
<br />TOTALS 103.497% 103.393 0.104
<br />
<br /> Projected
<br /> Captured
<br />Tax Capacity
<br />Value
<br />
<br />$14,500
<br />$14,500
<br />$14,500
<br />$14,500
<br />
<br />Negative
<br />Impact On
<br />Other Taxing
<br />Jurisdictions
<br />
<br /> $449
<br /> $551
<br /> $5O7
<br /> $0
<br />$1,507
<br />
<br />STATEMENT 1: The 1995/96 tax capacity value times the 1995/96 tax capacity rate produces 1995/96 taxes generated. If the captured tax capacity value was
<br /> available to each taxing jurisdiction, the result would be a lower or adjusted tax capacity rate which would produce the same amount of taxes.
<br /> Thus, with the addition of captured value of $14,500, the tax capacity rate for the above-selected major taxing jurisdictions would be reduced
<br /> by a rate of .104% to an adjusted tax capacity of 103.393%. The captured tax capacity times the adjusted tax capacity rate of 103.393%
<br /> would generate $1,507 in increment income, which represents the loss of new revenues if the development had not occurred without inclusion
<br /> in a Tax Increment District.
<br />
<br />STATEMENT 2: If no captured tax capacity value is available to each of the taxing jurisdictions, there is no impact on the taxes heretofore levied, and
<br /> therefore, no impact on tax capacity rates.
<br />
<br />NOTE: The impact on "other" taxing jurisdictions is negligible since those jurisdictions represent approximately 1.0% of the overall tax levy
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