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Geographic Enlargements: <br /> MN Statute 469.175 sub 4 (f) places limits on the length of time a TIF district may add parcels.No parcels may be added five years <br /> after the certification date.The Rush Lake Business Park may not be enlarged after February 1991. <br /> Recommendations: <br /> This district currently has a negative fund balance, due to the Estes Express land purchase in 2008. There will be additional TIF <br /> revenues for this district beginning for taxes payable in 2011 due to hotel construction at Co. Rd 96 and Old Highway 8. It is <br /> expected the district will be able to repay its interfund loan in full prior to district expiration in 2012. Any remaining fund balance <br /> can be used for pooling to other districts, including TIF#31 &TIF#32 to assist in debt or interfund loan payments. <br /> • Budget Modifications: Recommended in 2012 due to additional TIF revenues and compliance with TIF reporting. <br /> • Administrative Costs Limit: 10%of expenditures is expected to be $419,139 or 9.3%at the end of the district. <br /> • Pooling Limitation: Pre-1990 district. Pooling limits do not apply. <br /> • 5-Year Rule: Pre-1990 district. The 5-Year Rule does not apply. <br /> • 4-Year Rule: Met February 1990 <br /> • Developer Obligations: The original obligations of this district have been met. <br /> JD Management Review&Analysis-Tax Increment Financing Districts February 2012 <br /> New Brighton, Minnesota Page 45 <br />