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bonds are retired or until all capital and administration <br />expenses of Development District No. 1 have been paid. The <br />• City intends to use 100% of the available tax increments for <br />the purposes set forth in this tax increment financing plan. <br />See Section ZZ regarding the City's election to contribute <br />to the metropolitan area-wide fiscal disparities pool. <br />L. Duration of the District <br />Pursuant t� Minnesota Statutes, Section 469.176, Subdivision <br />l, the duration of � tax increment financing district within <br />Development District No. 1 must be indicated within the tax <br />increment financing plan. The dur�tion of Tax Increment <br />Fina_r,�ing District No. 12 will be 25 years from the date o� <br />receigt of the first tax increment. Thus, it is estimated <br />tha� Tax Yncremen� Financing District No. 12, including any <br />modifications to the finance plan for subsequent phases or <br />othe� changes, would terminate twenty-five years from �he <br />collection of the first tax incre�ment. <br />M. Estimated Impact on Other Taxing Jur3sdictions <br />7�he estimg�ed impact of Tax Increment Financing District No. <br />12 on thE other taxing jurisdi�tions witt�in such District is <br />set forth ain Exhibit B. <br />N. l�odifications of the Tax Inc�cement F'inancing Di�trict <br />� Iro �ccordance with ��nn�sQt� � atutes, Section 46�.175, <br />Subdivisxon 4, any reciuction or enla�gomo�t finar�cing <br />d�strict, ��cr�asc in �mount o� banded ind�bt�dness to b� <br />incurreci, including � d�termina�ion or c�pitalix� i�t�rest <br />on de4at if that d����rminatfon w�s no� a pArt af the or�,gina� <br />plan, or� �o increase or d�c�e�s� th� amount of in�erest on <br />th� d�bt to �e capitali�ed, incr��a�e in �he por�ion of the <br />captured Net T�x Capacity to ta� ret�ined by th� City, <br />incr�ase �n total esti�at�d t�x increment exp�nc�itures or <br />d�signativn of additior�al property ta be �c�quired by th� <br />authQx�ity shall b� approved �pon tha n�ticQ afld after th� <br />discussion, pubi�c h�a��ng anci f�ndings �equired fo� <br />approval of tt�Q aric�i�al pl�n. '�h� geoqraphic ar�� o� a tax <br />increm�nt financing district m�y be r�duceci, but sh��l �ot <br />be �nlarg�d aft�r iive y�ars follawing tt�� dat� �f <br />certifica�ion oi the Origin�l N�� �'ax Capacity by th� <br />�ec�unty auditor. T��x incr�m�nt �'in�ncing aistrict No. 12 rnay <br />�her�fore, be �xp�nded ur�til 1995. <br />0, �,rmitati�n an Admi�►istr�tiv� Exp�ns�� <br />In �accordance w�.�h Minn�sc�t��► �t<-�tut�s, Section �i��. ii4, <br />�ubdivision �.4, �nd Minn�sot� St�tutes, Section �69.176, <br />Subdivision 3, admini�trativ� expen��� mea►ns all <br />expenditures of �n authority other than amounts pa�,d for th� <br />� purchase of land or amounts paid �o contrac�ors or others <br />