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70% of the parcels in the area of Tax Increment <br />Financing District No. 2 -1 are occupied by <br />buildings, streets, utilities or other improvements <br />and 20% of the buildings are structurally <br />substandard and an additional 30% of the buildings <br />are found to require substantial renovation or <br />clearance in order to remove such existing <br />conditions as: inadequate street layout, <br />incompatible use s or land use relationships, <br />overcrowding of buildings on the land, excessive <br />dwelling unit density, obsolete buildings but <br />suitable for improvement or conversion, or other <br />identified hazards to the health, safety and general <br />well -being of the community. <br />The City Council has found that all of these facts exist. <br />Subsection 2.13. Duration of Tax Increment Financing <br />District No. 2 -1. The duration of Tax Increment Financing <br />District No. 2 -1 is expected to be 25 years from the approval <br />of the tax increment financing plan, whichever is less. The <br />first tax increment is expected to be received in 1992. <br />Subsection 2.14. Estimated Impact on Other Taxing <br />Jurisdictions. <br />Statement No. 1: The estimated impact on other taxing juris- <br />dictions assumes construction would have occurred without the <br />creation of Tax Increment Financing District No. 2 -1. If the <br />construction is a result of tax increment financing, the <br />impact is $0 to other entities. <br />Statement No. 2: Notwithstanding the fact that the fiscal <br />impact on the other taxing jurisdictions is $0 due to the fact <br />that the financing would not have occurred without the <br />assistance of the City, the estimated impact of Tax Increment <br />Financing District No. 2 -1 would be as follows: <br />2 -4 <br />Page 23 <br />