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USES OF TAX INCREMENT FUNDS TOTAL <br />Land/Building Acquisition $984,228 <br />Site Improvements/Preparation $0 <br />Utilities $0 <br />Other Qualifying Improvements $0 <br />Administrative Costs (up to 10%) $119.749 <br />PROJECT COST TOTAL $1,103,977 <br />Interest $213.258 <br />PROJECT AND INTEREST COSTS TOTAL $1,317,235 <br />The total project cost, including financing costs (interest) listed in the table above does not exceed the total <br />projected tax increments for the District as shown in Subsection 2-9. <br />Estimated capital and administrative costs listed above are subject to change among categories by <br />modification of the TIF Plan without hearings and notices as required for approval of the initial TIF Plan, so <br />long as the total capital and administrative costs combined do not exceed the total listed above. Further, the <br />City may spend up to 20 percent of the tax increments from the District for activities (described in the table <br />above) located outside the boundaries of the District but within the boundaries of the Project (including <br />administrative costs, which are considered to be spend outside the District), subject to all other terms and <br />conditions of this TIF Plan. <br />Subsection 2-11. Fiscal Disparities Election <br />Pursuant to M.S., Section 469.177, Subd. 3, the City_ may elect one of two methods to calculate fiscal <br />disparities. <br />The City will choose to calculate fiscal disparities by clause b. <br />Subsection 2-12. Estimated Impact on Other Taxing Jurisdictions <br />The estimated impact on other taxing jurisdictions assumes that the redevelopment contemplated by the TIF <br />Plan would occur without the creation of the District. However, the City has determined that such <br />development or redevelopment would not occur "but for" tax increment financing and that, therefore, the <br />fiscal impact on other taxing jurisdictions is $0. The estimated fiscal impact of the District would be as <br />follows if the "but for" test was not met: <br />City of Ramsey Tax Increment Financing Plan for Tax Increment Financing District No. 17: Delta Modtech 2-5 <br />