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City of Arden Hills Tax Increment Financing District No. 5: TCAAP 9  The Expanded Pooling Amount must be used exclusively to assist housing that meets the requirement for a qualified low-income building, as that term is used in Section 42 of the Internal Revenue Code of 1986, as amended (the "Tax Credit Act").  Expenditures of the Expanded Pooling Amount for any qualified low-income buildings may not exceed the qualified basis of that building, as defined in the Tax Credit Act, less the amount of any tax credit allowed under the Tax Credit Act for that building.  The Expanded Pooling Amount may be used to acquire and prepare sites for qualified rental housing; acquire construct or rehabilitate the housing, and make public improvements directly related to such housing. Estimated costs associated with the District and other affordable housing projects within the City are subject to change among categories without a modification to this TIF Plan. The cost of all activities to be considered for tax increment financing will not exceed, without formal modification, the budget above pursuant to the applicable statutory requirements. Pursuant to M.S., Section 469.1763, Subd. 2, no more than 25 percent of the tax increment paid by property within the District will be spent on activities related to development or redevelopment outside of the District but within the boundaries of Development District No. 1, (including administrative costs, which are considered to be spent outside of the District) subject to the limitations as described in this TIF Plan. The City may expend an additional 10 percent of funds for qualified housing activities outside the District boundaries. Fiscal Disparities Election Pursuant to M.S., Section 469.177, Subd. 3, the City may elect one of two methods to calculate fiscal disparities. The City will choose to calculate fiscal disparities by clause b (inside). Estimated Impact on Other Taxing Jurisdictions The estimated impact on other taxing jurisdictions assumes that the development contemplated by the TIF Plan would occur without the creation of the District. However, the City has determined that such development would not occur "but for" tax increment financing and that, therefore, the fiscal impact on other taxing jurisdictions is $0. The estimated fiscal impact of the District would be as follows if the "but for" test was not met: Entity 2018/Pay 2019 Total Net Tax Capacity Estimated Captured Tax Capacity (CTC) upon completion Percent of CTC to Entity Total Ramsey County 528,905,652 4,654,336 0.8800% City of Arden Hills 14,194,197 4,654,336 32.7904% ISD No. 621 99,584,975 4,654,336 4.6737% Impact on Tax Base