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objectives of this TIF Plan. Such acquisitions will be undertaken only when there is <br />assurance of funding to finance the acquisition and related costs. <br />G. Estimate of Costs <br />The public costs associated with this project are outlined in Appendix "D", Project Costs. It <br />is expected that the public costs will be financed by the City. <br />(AS MODIFIED NOVEMBER 13, 2000) <br />The budget history and estimate of authorized public costs associated with this project are <br />outlined in Appendix "D", Budget History and Estimate of Project Costs. <br />H. Estimated Amount of Indebtedness <br />See Appendix "D" of this Plan. <br />I. Sources of Revenue <br />The principle source of revenue to be used to finance public costs associated with the <br />projects in the redevelopment project is tax increment financing. Tax increment financing <br />refers to a funding technique that utilizes increases in tax capacity valuation and the <br />properly taxes attributed to new development to finance, or assist in the financing of public <br />development costs. See Appendix "E" for Revenue Projections. The City may from time to <br />time utilize other revenue sources to finance public costs. <br />(AS MODIFIED NOVEMBER 13, 2000) <br />The principal source of revenue to be used to finance public costs associated with the <br />projects in the redevelopment project is tax increment financing. The City reserves the right <br />to use other sources of revenue legally applicable to the Modification to the Municipal <br />Development District Plan and the Modified Plan, including, but not limited to, general <br />property taxes, state aid for road maintenance and construction, proceeds from the sale of <br />land, other contributions from the developer, investment income, and undesignated <br />municipal funds to pay for the estimated public costs. <br />Appendix D includes a detailed estimate of the Sources of Revenue being authorized for the <br />District. <br />J. Original Tax Capacity <br />Pursuant to Minnesota Statutes, Section 469.175, Subdivision 1 and Section 469.177, <br />Subdivision 1, the Original Assessed Capacity (OAC) for the City of Mounds View tax <br />increment financing redevelopment district 93 is based on the value placed on the property <br />by the County Assessor in 1987. This assessed value is $86,246. Each year the Office of the <br />County Auditor will measure the amount of increase or decrease in the total assessed value <br />of the tax increment redevelopment district to calculate the tax increment payable to the <br />redevelopment district fund. In any year in which there is an increase in total assessed <br />valuation, no assessed valuation in the tax increment redevelopment district above the <br />adjusted original assessed value, a tax increment will be payable. In any year in which the <br />City of Mounds View TIF District No. 3 Modification 6 111 a g e <br />