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request for certification is made before June 30,2004. The ONTC and the Original Local Tax Rate for the District appear in the table on the next page. Pursuant to M.S., Section 469.174 Subd. 4 and M.S., Section 469.177, Subd. 1, 2, and 4, the estimated Captured Net Tax Capacity (CTC) of the District, within Redevelopment Project Area No. 3, upon completion of the project,will annually approximate tax increment revenues as shown in the table on the next page. The HIAA and City request 100 percent of the available increase in tax capacity for repayment of its obligations and current expenditures,beginning in the tax year payable 2006. The Project Tax Capacity (PTC)listed is an estimate of values when the project is completed. Project Estimated Tax Capacity upon Completion(PTC) 2,001,076 Original Estimated Net Tax Capacity(ONTC) 368,499 Fiscal Disparities Reduction 76,600 Estimated Captured Tax Capacity(CTC) 1,555,977 Original Local Tax Rate 1.23141 Pay 2003 Estimated Annual Tax Increment(CTC x Local Tax Rate) 1,916,046 Percent Retained by the HRA 100% *The cashflow estimates a 2%inflation factor over the term of the District. Tax capacities are based on estimates for Payable 2009,when the total project is estimated to be completed (AS MODIFIED ONMAR CH 14, 2006) Project Estimated Tax Capacity upon Completion (PTC) $3,291,016 Original Estimated Net Tag Capacity(ONTO) $345,751 Fiscal Disparities Reduction $269,813 Estimated Captured Tag Capacity(CTC) $2,889,231 Original Local Tax Rate 1.32690 est.Pay 2006 Estimated Annual Tag Increment(CTC x Local Tag Rate) $3,833,720 Percent Retained by the EDA 100% *The cashflow estimates a2%inflation factor over the term of the District.Tag capacities are based on estimates for Payable 2031,when the district is completed Pursuant to M.S., Section 469.177, Subd. 4,the HRA shall,after a due and diligent search,accompany its request for certification to the County Auditor or its notice of the District enlargement pursuant to M.S., Section 469.175,Subd. 4,with a listing of all properties within the District or area of enlargement for which building permits have been issued during the eighteen(18)months immediately preceding approval of the TIF Plan by the municipality pursuant to M.S., Section 469.175, Subd. 3. The County Auditor shall increase the original net tax capacity of the District by the net tax capacity of improvements for which a building permit Housing and Redevelopment Authority of St. Anthony Tax Increment Financing Plan for Tax Increment Financing District No.2-5