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<br />EXHIBIT E
<br />IMPACT OF TAX INCREMENT FINANCING DISTRICT N0. 12
<br />ON OTHER MAJOR TAXING JURISDICTIONS
<br />Cky of EIk Rfver, Minnesota
<br /> Without ProjeG Wilh Project
<br /> Projected Negative
<br /> 1994/95 1994/95 1994195 1994195 Projected New Tex 1994/95 Adjusted Tax Capadly Captured Impact On
<br /> Tax Capadty Ad Valorem Taz Capacity Tax Capadly Captured Tax Capadly Ad Valorem T ax Capacty Rate Tax Capadly Other Taxirg
<br /> Value Taxes Levied Rale Value Capadly Value Value Taxes Levied Rate Impact Value Jurisdictions
<br />City of Elk River $9,324,360 $2,223,347 23.958% $9,324,380 $23,010 $9,347,370 $2,223,347 23.785 0.173 $23,010 $5,172
<br />Sherburne County $54,255,803 $12,128,779 22,380% $54,255,803 $23,010 $54,278,813 $12,128,779 22.345 0.035 $23,010 $5,141
<br />ISD 728 $19,431,867 $11,032,065 56.511% $19,431,867 $23,010 $19,454,877 $11,032,065 58.443 0.066 $23,010 $12,988
<br />Other 1.398% $23,010 1.398 $23,010 $321
<br />TOTALS 104.247 103.971 0.278% $23,922
<br />STATEMENT 1: The 1994195 tax Capadty value times the 1994/95 tax capacity rate produces 1994551axes generated. If the captured lax Capadty value was
<br />available to each taxing Judsdictlon, the result would be a lower or adjusted tax capaGly rate which woWd produce the same emouM of lazes.
<br />Thus, with the addition of captured value of $23,010, the tax Capadty rate for the above-seleGed major taxirg jurisdictions would be reduced
<br />by a rate of .276% to an adjusted tax capacity of 103.971 %. The captured tax Capadly times the adjusted tax Capadty rate of 103.971%
<br />would generate $23,922 in increment income, wfiich represents the loss of new revenues if the development had not ocarred without induslon
<br />in a Tax Increment DistdG.
<br />STATEMENT 2: If no captured lax Capadty value is available to each of the laxing Judsdlctlons, there Is no ImpaG on the taxes heretofore levied, and
<br />therefore, no impact on tax capacity rates.
<br />NOTE: The impact on "other" taxing jurisdictions is negligible since those Jurisdictions represent approximately 1.0% of the overall lax levy
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