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<br />The estimated captured tax capacity of Tax Increment <br />Financing District No. 18 upon completion of the proposed <br />improvements on January 2, 1992 is estimated to be $367,699. <br /> <br />Subsection 19.13. Tax Capacity Rate. The current total tax <br />capacity rate is .91863. <br /> <br />Subsection 19.14. Tax Increment. Tax increment has been <br />calculated at approximately $337,779 upon completion of the <br />improvements assuming a static tax capacity rate and a valuation <br />increase of three percent (3.0%) compounded annually. <br /> <br />Subsecti.on 19,15. ~ of Tax Increment Financinq District. <br />Tax Increment Financing District No, 18 is, pursuant to Minnesota <br />Statutes 1987 Supplement, Section 469.174, Subdivision 10(a)(2), <br />a Redevelopment District. <br /> <br />Subsection 19.16. Duration of Tax Increment Financinq <br />District. The duration of Tax Increment Financing District <br />No. 18 is expected to be twenty-five (25) years from receipt of <br />the first tax increment. The date of receipt of the first tax <br />increment is estimated to be July, 1993. Thus, it is estimated <br />that Tax Increment Financing District No. 18, including any <br />modifications for subsequent phases or other changes, would <br />terminate in the year 2018. <br /> <br />Subsection 19.17. Estimated Impact QU Other Taxinq <br />Jurisdictions. The estimated impact on other taxing <br />jurisdictions assumes construction would have occurred without <br />the creation of Tax Increment Financing District No. 18. If the <br />construction is a result of tax increment financing, the impact <br />is $0 to other entities. Notwithstanding the fact that the <br />fiscal impact on the other taxing jurisdictions is $0 due to the <br />fact that the financing would not have occurred without the <br />assistance of the City, the attached Exhibit XIX-E reflects the <br />estimated impact of Tax Increment Financing District No. 18 if <br />the "but for" test was not met. <br /> <br />Subsection 19.18. Modification of Tax Increment Financing <br />District and/or Tax Increment Financinq Plan. As of April 24, <br />1990, no modifications to Tax Increment Financing District No. 18 <br />or the Tax Increment Financing Plan therefore has been made, said <br />date being the date of initial approval and adoption thereof by <br />the City Council. <br /> <br />19 - 3 <br />