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measure the amount of increase or decrease in the total assessed value of <br />the tax increment redevelopment district to calculate the tax increment <br />payable to the redevelopment district fund. in any year in w rich there is an <br />increase In total assessed valuation in the tax increment redevelopment <br />district above the adjusted original assessed value, a tax increment will be <br />payable. In any year in which the total assessed valuation in the tax <br />Increment financing redevelopment district declines below the original <br />assessed valuation, no assessed valuation will be captured and no tax <br />increment will be payable. <br />The County Auditor shall certify in each year after the date the Original <br />Assessed Value was certified, the amount the OAV has increased or <br />decraased as a result of: <br />1. change in tax exempt status of property; <br />2. reduction or enlargement of the geographic boundaries of the <br />district; <br />3. change due to stipulations, adjustments, negotiated or court -ordered <br />abatements. <br />K. Estimated Captured Assessed Value <br />Pursuant to Minnesota Statutes, Section 469.175, Subdivision 1 and <br />Minnesota Statutes, Section 469.177, 5rt•' ision 2, the estimated present <br />value of Captured Assessed Value (Cn f the tax increment financing <br />redevelopment district, with all p.,ases completed, will annual.'v <br />approximate $5,068,376. This amount will be captured in phases (see <br />Appendix "E") for up to twenty-five year; or until the debt is retired. <br />L. Duration of the District <br />Pursuant to Minnesota Statutes, Section 469.176, Subdivision 1, the duration <br />of the tax increment district within the Development District must be <br />Indicated within the finance plan. The duration of the tax Increment <br />district will be 25 years from the date of receipt of the first tax increment, <br />including any modifications to the finance plan for subsequent phases or <br />other changes. <br />51. Estimated impact un Other Taxing Jurisdictions <br />The Impact of the loss of tax dollars represented as tax increments is <br />estimated below for each taxing jurisdiction. This estimate is based on the <br />existing redevelopment proposals and does not include the possible tax <br />increments derived from any other future development, mill changes, or <br />inflation factors. <br />C1 <br />