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TIF #16 — 2121 — 23 Hwy 8 <br /> Description: <br /> This Redevelopment District was established in order to facilitate the development of a 12,000 sq ft distribution facility for Midwest <br /> Bolt& Supply and a 26,000 sq ft office/showroom facility for Welsh Companies within the Development District <br /> Adopted: 09/27/1988 <br /> Requested Date: 10/14/1988 <br /> Certified Date: 06/27/1989 <br /> Decertifies 12/31/2015 <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 Ni <br /> :_��• _ hers <br /> 16.30.23.32.0020 <br /> 16.30.23.32.0021 <br /> 16.30.23.32.0022 <br /> Fiscal Disparities Election: The City elected to calculate fiscal disparities from outside(A election)the district. <br /> Frozen Tax Rate: 91.863% <br /> First Receipt of Increment: July 1990 <br /> Allowable Uses: <br /> MN Statute 469.176 sub 4j specifies the activities on which tax increment from a redevelopment district may be spent. In general, <br /> tax increment must be spent correcting those conditions which caused the area to be designated a redevelopment district. Allowable <br /> 0 Management Review&Analysis-Tax Increment Financing Districts February 2012 <br /> New Brighton, Minnesota Page 85 <br />