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T. Estimate of Captured Tax Capacity and Tax Increment. <br /> <br /> The City is currently collecting approximately $106,000 in tax increments annually <br />from TIF District No. 4. This TIF Plan modification does not anticipate additional captured <br />tax capacity other than that from development previously scheduled to occur. A summary of <br />the estimated tax increment collection and expenditures is presented in Exhibit G hereto. <br /> <br /> Pursuant to Section 469.177, Subd. 2 of the TIF Act, it is found and declared that all <br />of the captured tax capacity generated upon full development of all property within the TI~ <br />District is necessary to finance or otherwise make permissible expenditures authorized by <br />Section 469.176, Subd. 4 of the TIF Act. <br /> <br />U. Duration of the TIF District. <br /> <br /> The City reaffirms its intent, pursuant to Section 468.176, Subd. lb(a) of the TIF <br />Act, to collect tax increments until 25 years after the date of £n-st receipt of tax increment. <br />The City thus expects to receive tax increment through 2014. <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. 4 or increase the expected captured tax capacity in the TIF District. Rather, the <br />modification simply m-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~A~25-52 23 <br /> <br /> <br />