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City of Mounds View TIF Distric t No. 3 Modification 8 | P a g e (AS MODIFIED MARCH 26, 1989) Pursuant to Minnesota Statutes, Section 469.175, Subdivision 1 and Minnesota Statutes, Section 469.177, Subdivision 2, the estimated value of Captured Tax Capacity (CTC) for Phase I of the tax increment financing redevelopment district will annually approximate $295,000 while Phase II is estimated at $236,000. This amount will be captured in phases (see Appendix "E") for up to twenty-five years or until the debt is retired for Phase I and all Phase II costs have been amortized. L. Duration of the District Pursuant to Minnesota Statutes, Section 469.176, Subdivision 1, the duration of the tax increment district within the Development District must be indicated within the finance plan. The duration of the tax increment district will be 25 years from the date of receipt of the first tax increment, including any modifications to the finance plan for subsequent phases or other changes. (AS MODIFIED OCTOBER 8, 2012) Pursuant to M.S., Section 469.175, Subd. 1, and Section 469.176, Subd. 1, the duration of the District must be indicate d within the TIF Plan. Pursuant to M.S., Section 469.176, Subd. 1b, the duration of the District will be 25 years after receipt of the first increment by the City (a total of 26 years of tax increment). The date of receipt by the City of the first tax in crement was 1989. Thus, it is estimated that the District, including any modifications of the TIF Plan for subsequent phases or other changes, would terminate after December 31, 201 4, or when the TIF Plan is satisfied. The City reserves the right to dece rtify the District prior to the legally required date. M. Estimated Impact on Other Taxing Jurisdictions The impact of the use of tax dollars represented as tax increments for project costs is estimated below for each taxing jurisdiction. This estimate is based on the existing development proposals and does not include the possible tax increments derived from any other future development, mill changes, or inflation factors. Total Assessed Value Tax Increment Finance District 1/2/87 Total $ 86,240 Latest Assessed Value of Each Government Body: % or District to Total Ramsey County $3,315892,299 .0026 School District $605,174,784 .0142 City of Mounds View $59,887,551 .1440 Considering all the districts, it can be seen from the above that the school and county