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Duration of the TIF District <br /> In accordance with the TIF Act, the HRA from the <br /> TIF District may continue to receive tax increment <br /> payments for 12 years after, establishment of the <br /> Soils Condition TIF District. It is estimated that <br /> the TIF District duration will be 12 years. <br /> F. ESTIMATED IMPACT OF THE TIF DISTRICT ON OTHER TAXING <br /> JURISDICTIONS <br /> Redevelopment o'f the property located within the TIF <br /> District for housing improvements identified and <br /> discussed in Exhibit B cannot occur but for• the <br /> creation of a tax- increment district and the subsidy to <br /> be used for, soil correction. <br /> Pursuant to Minnesota law, tax increment generated by <br /> development within the TIF Distr•i.ct may only be <br /> captured by the HRA for a period of twelve years after- <br /> establishment of the Soils Condition TIF District. <br /> During this period, other, major, taxing jurisdictions <br /> will continue to receive taxes from the pr•oper•ty within <br /> the TIF District based. on the original assessed value <br /> of the pr•oper•ty, just as if no redevelopment had <br /> occur•r-ed on the proper-ty. Other, taxing jurisdictions <br /> will , ther•efor•e, realize the -same amount of tax revenue <br /> from the pr-oper•ty within the TIF District during the 12 <br /> year, duration of the district as they would have if no <br /> development had occur•r•ed on the proper-ty. There will , <br /> ther•efor•e, be negative impacts on other taxing <br /> jurisdictions as a result of the City's creation of the <br /> TIF District. These . impacts ar•e offset by the public <br /> purpose of pr- -viding redevelopment 'for- housing. <br /> There will , however, be a substantial favorable impact <br /> on other- taxing jurisdictions following termination of <br /> the TIF District in 12 years. Taxes levied on the full <br /> 12 <br />