04-11-1990 Council Agenda - Laserfiche WebLink

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suitable for improvement or conversion, or other identified hazards to the health, safety and general well -being of the community. The City Council has found that all of these facts exist. Subsection 2.13. Duration of Tax Increment Financing District No. 2 -1. The duration of Tax Increment Financing District No. 2 -1 is expected to be 25 years from the approval of the tax increment financing plan, whichever is less. The first tax increment is expected to be received in 1992. Subsection 2.14. Estimated Impact on Other Taxing Jurisdictions. Statement No. 1: The estimated impact on other taxing juris- dictions assumes construction would have occurred without the creation of Tax Increment Financing District No. 2 -1. If the construction is a result of tax increment financing, the impact is $0 to other entities. Statement No. 2: Notwithstanding the fact that the fiscal impact on the other taxing jurisdictions is $0 due to the fact that the financing would not have occurred without the assistance of the City, the estimated impact of Tax Increment Financing District No. 2 -1 would be as follows: Entity Ramsey County City of Little Canada I.S.D. No. 623 SISD No. 916 IMPACT ON TAX BASE (Payable 90) Tax Base $380,940,360 $ 7,617,883 $ 52,063,819 $308,974,076 Recent Net Tax Capacity $15,672 $15,672 $15,672 $15,672 2 -5 Page 29 Future Net Tax Capacity $91,593 $91,593 $91,593 $91,593 Captured Net Tax Capacity $75,921 $75,921 $75,921 $75,921 % of Captured Net Tax Capacity To Entity .020% . 997% . 146% . 025° •