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IV. FISCAL AND ECONOMIC IMPLICATIONS OF ADDITIONAL <br /> EXPENDITURES <br /> It is estimated that the fiscal and economic implications of the <br /> additional expenditures of tax increment revenue derived from the District <br /> authorized by this Amendment will be as follows: <br /> The local governmental units other than the City which are authorized <br /> by law to levy ad valorem property taxes in the area where the District is located and <br /> Independent School District No. 282, Ramsey County, the HRA, and various <br /> metropolitan area authorities, including the Metropolitan Council, the <br /> Metropolitan Transit Commission, the Metropolitan Airports Commission and the <br /> Metropolitan Mosquito Control District (the local government units). <br /> After the establishment and during the continuation of the District, as <br /> a result of the Redevelopment Project and the implementation of the <br /> Redevelopment Plan and the improvements in the District there has been an <br /> increase in the assessed value of the taxable property in the District. The District is <br /> required to terminate no later than 2001. If the Townhome Development occurs <br /> and the tax increments derived from the District are not applied to pay the public <br /> redevelopment costs authorized hereby, the District would terminate approximately <br /> one or two years earlier than would otherwise be the case assuming ad valorem <br /> taxes are paid with respect to the taxable property in the District in the anticipated <br /> amounts. Upon such termination such increased assessed value would be available <br /> for taxation by the local governmental units. However, as a result of this <br /> Amendment such increase in valuation will not be available for taxation by the <br /> local governmental units until the scheduled termination date of the'District in <br /> 2001. <br /> V. DETERMINATIONS IN ORIGINAL FINANCING PLAN <br /> The determinations made in the Financing Plan with respect to <br /> designation of the District as a Soils Correction District, the impact of the <br /> establishment of the District and the implementation of the Redevelopment Plan <br /> and undertaking of the Redevelopment Project and the captured'assessed value,of <br /> the District upon the redevelopment thereof are not affected by this Amendment <br /> and such determinations remain in full force and effect following the adoption of <br /> this Amendment. <br /> -2- <br />