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TIF #14 — Golden Pond <br /> Description: <br /> This Redevelopment District was established in order to assist in developing a 91-unit senior citizen/mature adult rental apartment <br /> facility within the Development District <br /> Adopted: 03/22/1988 <br /> Requested Date: 03/30/1988 <br /> Certified Date: 06/16/1988 <br /> Decertifies 12/31/2014 <br /> Modifications: 03/27/2001-Budget modification <br /> 11/25/2003-Budget modification <br /> 12/14/2004-Budget modification <br /> 12/13/2005-Budget modification <br /> Current PIN Numb/ills) <br /> 29.3 0.2 3.1 1.0088 <br /> Fiscal Disparities Election: The City elected to calculate fiscal disparities from outside(A election)the district. <br /> Frozen Tax Rate: N/A <br /> First Receipt of Increment: July 1989 <br /> Allowable Uses: <br /> MN Statute 469.176 sub 4c specifies the activities on which tax increment from an economic development district may be spent. <br /> Allowable uses include property acquisition, demolition, rehabilitation, installation of public utilities, road, sidewalks, public <br /> parking facilities, and allowable administrative expenses. Additionally,there are square foot restrictions on the project which may be <br /> financed with TIF. Minnesota Statute 469.176, sub 4c requires that tax increment may not be used to provide assistance if more than <br /> 15%of the square footage is used for office. <br /> Management Review&Analysis-Tax Increment Financing Districts February 2012 <br /> New Brighton, Minnesota Page 73 <br />