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• <br />K. <br />L. <br />2. <br />3. <br />reduction or enlargement of the geographic <br />boundaries of the district; <br />change due to stipulations, adjustments, <br />negotiated or court-ordered abatements. <br />Estimated Captured Net Tax Capacity <br />Pursuant to Minnesota Statutes, Section 469.175 Subdivision <br />1 and Minnesota Statutes, Section 469.177 Subdivision 2, the <br />Estimated Captured Market Net Tax Capacity of Tax Increment <br />Financing District No. 11 will annually approximate <br />$114,000,000 based upon fiscal disparities being contributed <br />from within Tax Increment Financing District No. 11. The <br />amount calculated includes removal of buildings. Land value <br />has been calculated as a constant. This amount will be <br />captured for up to twenty-fiue years or until the City's <br />outstanding tax increment bonds are retired or until all <br />capital and administration expenses of Development District <br />No. 1 have been paid. The City intends to use 100� of the <br />avaiiable tax increments for the purposes set forth in this <br />tax increment financing plan. See Section ZZ regarding the <br />City's election to contribute to the metropolitan area-wide <br />fiscal disparities pool. <br />Duration of the District <br />� Pursuant to Minnesota Statutes, Section 469.176, Subdivision <br />1, the duration of a tax increment financing district within <br />Dev�lopment District No. 1 must be indicated within the tax <br />increment financing plan. T�e duration of Tax Increment <br />Financing District No. 11 will be 25 years from the date of <br />receipt of the first tax increment. Thus, it is estimated <br />that Tax Increment Financing District No. il, including any <br />modifications to the finance plan for subsequent phases or <br />other changes, would terminate twe�ty-five years from the <br />collection Qf the first tax increment. <br />M. <br />N. <br />� <br />Estimated lmpa�t on Other Taxing Jurisdictions <br />The estimated impact of Tax Increment Financing District No. <br />11 on the other taxing jurisdictions within such District is <br />set forth in Exhibit B: <br />Modifications of the Tax Increment Fi.nan��ing District <br />In accordance with Minnesota Sta�:utes, S�ction 469.175, <br />Subdivision 4, any reduction or enlargement financing <br />district, increase in amount af bonded indebtedness to be <br />incurred, including a determination or capitalize interest <br />on debt if that determination was not a part of the original <br />plan, or to increase or decrease the amount of interest on <br />the debt to be capitalized, increase in the portion of the <br />captured Net Tax Capacity to be retained by the City, <br />