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3. 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 I11PACT OF THE TIF DISTRICT ON OTHER TAXING <br /> JURISDICTIONS <br /> Redevelopment of the pr•oper•ty located within the TIF <br /> District for- housing improvements identified and <br /> discussed in - Exhibit B cannot occur, but far• the <br /> creation of a tax. increment district and the subsidy to <br /> be used for, soil corr•ection. <br /> Pursuant to Minnesota law, tax increment generated by <br /> M development within the TIF District 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 property within <br /> the TIF District based on the original assessed value <br /> of the pr•oper•ty, just as if no redevelopment had <br /> occurred on the property. Other, taxing jurisdictions <br /> will , therefore, realize the same amount of tax revenue <br /> from the property within the TIF District during the 12 <br /> year, duration of the district as they would have if no <br /> development had occurred on the property. There will , <br /> therefore, be negative impacts on other, taxing <br /> juvisdict-ions as a result of the City 's creation of the <br /> TIF District. These impacts ar-e offset by the public <br /> purpose of p! -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. Tares levied on the full <br /> 12 <br />