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PP -22 -92 NED i :SE .t <br />(Tax Increment Financing District No, 4) <br />Acquisition, Site Improvements and 3,500,000 <br />Public Improvements <br />Administration <br />70,000 <br />SUBTOTAL 3,570,000 <br />Capitalized Interest None <br />Discount None <br />TOTAL PROJECT COST 3,570,000 <br />F '1' .4 <br />It is anticipated that the estimated costs described above will be <br />financed from tax increments from Tax Increment Financing District <br />No. 4. <br />The City of Little Canada will not issue general obligation tax <br />increment financing bonds to finance the above costs. The costs <br />will be paid as tax increments are generated and available on a <br />semi - annual basis, thereby eliminating the need for the issuance of <br />tax increment bonds. <br />:Subsection 1,09, Estimated Amount of Bonded indebtedness,. No tax <br />increment bonds will be issued. The City will issue a limited tax <br />increment note to St. Jude Medical, Inc. <br />subsection 1.11. Estimated Recent Net Tax Capacity, Futcre New Tax <br />Capacity and Captured Net Tax Capacity. The most recent net tax <br />capacity (the original'net tax capacity) of Tax Increment Financing <br />District No. 4 is estimated to be $3,234. The estimated highest <br />future net tax capacity is estimated to be $331,200. The estimated <br />captured net tax capacity is estimated to be $322,966. <br />subsection 1,14, Estimated Impact an other Taxing Jurisdictions, <br />Qtatement No. 1: The estimated impact on other taxing <br />jurisdictions assumes construction would have occurred without the <br />creation of Tax Increment Financing District No. 4. If the <br />construction is a result of tax increment financing, the impact is <br />$0 to other entities. <br />Page 3 <br />