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The estimated sources of funds for the District are contained in the table below are based on the increments <br />received to date and an extrapolation of future increment expected. <br />SOURCES OF FUNDS TOTAL <br />Tax Increment $194759000 <br />The other financing sources listed in Exhibit IV-F are included for purposes of OSA reporting for the TIF <br />District. Transfers are authorized in case money is moved from one fund to another, before an expenditure <br />is made. <br />Section 2.12. Estimated Original and Captured Tax Capacities. The tax capacity of all taxable property in <br />Tax Increment Financing District No. 3 for the 1992/93 tax year is estimated to be 5,443. <br />The City anticipates entering into a development contract with the developer and that the City will agree to <br />reimburse the developer for costs of the public improvements from collections of tax increment. <br />The estimated captured tax capacity of Tax Increment Financing District No. 3 upon completion of the <br />proposed improvements on January 2, 1994 is estimated to be $48,853. <br />(A S MODIFIED MA Y 2 7, 199 7) <br />For taxes payable in 1997, the original tax capacity was $3,524 and the captured tax capacity was $62,329. <br />(AS MODIFIED DECEMBER 14, 2009) <br />Pursuant to M.S., Section 469.177, Subds. I and 2, the County Auditor shall certify in each year the <br />amount by which the original value has increased or decreased as a result of: <br />1. Change in tax exempt status of property; <br />2. Reduction or enlargement of the geographic boundaries of the district; <br />3. Change due to adjustments, negotiated or court -ordered abatements; <br />4. Change in the use of the property and classification; <br />5. Change in state law governing class rates; or <br />6. Change in previously issued building permits. <br />In any year in which the current Net Tax Capacity (NTC) value of the District declines below the <br />ONTC, no value will be captured and no tax increment will be payable to the EDA or City. <br />Pursuant to M.S., Section 469.174 Subd. 4 and M.S., Section 469.177, Subd. 1, 2, and 4, the estimated <br />Captured Net Tax Capacity (CTC) of the District, within Development District No. 1, will annually <br />approximate tax increment revenues as shown in the table below. The Project Tax Capacity (PTC) listed is <br />the final values used for taxes payable in 2009. <br />City of Arden Hills Modification of Tax Increment Financing District No. 3 6 <br />