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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 2004A GO Tax Increment Bonds and the 2009A G.O. Bonds (which refunded the 1997C TIF Bonds). Other Development Agreement Compliance: The City paid off an interfund loan from the Municipal Development Fund#460 in 2008. Three Year Rule: MN Statute 469.176 sub la was repealed in 2005.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 Remmele, CBD West 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 Remmele, CBD West Four Year Rule deadline was October 1996 O Management Review&Analysis-Tax Increment Financing Districts February 2012 New Brighton, Minnesota Page 98