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Allowable Uses: MN Statute 469.176 sub 4j specifies the activities on which tax increment from a redevelopment district may be spent. In general, tax increment must be spent correcting those conditions which caused the area to be designated a redevelopment district. Allowable uses include property acquisition, demolition, rehabilitation, installation of public utilities, road, sidewalks, public parking facilities, and allowable administrative expenses. Obligations: The district is currently obligated to pay the 2001C GO Tax Increment, 2004B GO Tax Increment Bonds, and 2009B Taxable TIF Refunding Bonds(refunded the 1997D bonds). Three Year Rule: MN Statute 469.176 sub la was repealed in 2005. However, the requirement is still effective for districts which were adopted when the rule was in place. Thus,the Brighton Corporate Park District was still required to comply with the three year rule. The three year rule states that,within three years from certification date, bonds much be issued,the authority has acquired land or has caused public improvements to be constructed in the district. Four Year Rule: MN Statute 469.176 sub 6 requires that, within four years from certification date, certain activities must have taken place on each parcel with the TIF district. Required activities include demolition, rehabilitation, renovation and site improvements. If these activities have not taken place within the required time, the parcel is `knocked down' from the district, meaning, that no increment may be collected from that individual parcel for the duration of the district. The law, does, however allow for reinstatement procedures should the required activity later occur on the parcel. The Brighton Corporate Park Four Year Rule deadline was June 1993. Management Review&Analysis-Tax Increment Financing Districts February 2012 New Brighton, Minnesota Page 80