Laserfiche WebLink
from Redevelopment TIF District No. 1. The first increment was received in July, 1987; the <br />City thus expects to receive tax increment through 2012. <br /> <br />V. Estimate of Impact on Other Taxing Jurisdictions. <br /> <br /> The City believes that this TIF Plan modification will have no practical impact on <br />other taxing jurisdictions. The modification does not change the boundaries of TIF District <br />No. 1 or increase the expected captured tax capacity_in the TIF District. Rather, the <br />modification simply re-directs the use of tax increment currently being collected from the <br />TIF District in order to promote development and redevelopment goals. <br /> <br /> The City expects that proposed expenditures will stimulate development in various <br />areas of the Development District, outside any TIF District. Such development will benefit <br />all taxing jurisdictions by increasing the tax base, which increase will not be captured in a <br />TIF District. Some additional development may be expected within existing TIF Districts, <br />but any tax capacity increase is impossible to estimate at this time. <br /> <br />W. Annual Reports. <br /> <br /> The City will comply with all reporting requirements under Section 469.175, Subds. <br />5, 6 and 6a of the TIF Act. <br /> <br />SJB-151910 <br />R^~25-52 1 1 <br /> <br /> <br />