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City of New Brighton Recommendations:
<br /> Fund Balance Analysis 1) This district hes a positive cash balance beginning In 2009.
<br /> TIF 18 Remmelle,CBD West 2) Pre-1990 district Funds can be pooled for other projects.
<br /> 3) Budget Mod: Not recommended
<br /> General TIF District In forma ton
<br /> I Original 1 Modification
<br /> Distnct Type Redevelopment
<br /> Project Area
<br /> City approved 4/24/1990 12/13/2005
<br /> Con Request 4,27/1990 N/A
<br /> Certified 10/1/1992 N/A
<br /> Decendes 12/31/2018 12/31/2018
<br /> End of
<br /> Current District
<br /> Cumulative Projected Acctd for
<br /> Original Modified Actual in Prior Actual Actual Actual Actual Projected
<br /> Budget Budget Total Years 2007 2008 2009 2010 2011 2012 2013 2014 2016
<br /> Beginning Fund Balance 0 (60,346) (114,176) 32,679 223,371 467,827 600,833 606,614 489,360 447,139
<br /> Revenues
<br /> Tax increment 412,100 6,400,000 5,632,854 2,546,151 264,277 294,372 306,423 267,377 269,998 240,608 240,608 240,608 240,608
<br /> MVIiC 0 0 226,073 68,397 12,084 11,926 12,472 13,466 13,466 13,466 13,466 13,466 13,466
<br /> Investment Earnings 0 640,000 81,841 8,636 (10,282) (5,379) (2,695) 4,225 4,578 6,008 7,584 9,787 11,178
<br /> Bond Proceeds 3,685,000 5,162,500 335,666 335,666
<br /> Sales/Lease Proceeds 2,016,500 1,000,000 877,274 877,274
<br /> Loan/Advace Repayments 0 0 0 0
<br /> Grants s 0 358,600 358,600 358,600
<br /> Other. Developer Fees 30.000 100,000 30,000 30,000
<br /> Transfer In 0 4,4.65,400 1,909.801 1,909,801
<br /> Total Re 6,143,600 18,127.600 9,452,109 6,134,626 266,079 300.919 316.200 286.066 288,042 260.082 261,658 263,861 266,252
<br /> Expenditures
<br /> Land/building acquisition 4,030,000 3,500,000 2,312,198 2,312,198
<br /> Site Improvements 0 530,000 0 0
<br /> Bond
<br /> Principal 0 5,162,500 2,765,493 567,832 252,857 115,309 93,980 124,544 130,940 328,459 257,784 285,739 258,945
<br /> interest 0 3,097,500 260,366 0 70,552 29,810 31,422 18,215 14,096 26,843 20,128 20,343 16,564
<br /> Loan
<br /> Principal 0 0 0 0
<br /> Interest 0 3,097,500 1,183,558 1,176,479 2,571 4,508 0 0 0 0 0 0 0
<br /> Adman 584,500 640,000 607,984 700,111 2,657 4,537 (7,174I ClI 0 0 C 0
<br /> County Admin 0 0 7,180 0 7,180
<br /> Other.Total 700,000 100,000 63,816 63,616 Admen shifted to TIF 5
<br /> Transfer out 829,100 2,000,000 2,294,223 1364,435- 1,272 C 0 0 0 0 0 0 0
<br /> Total Expenditures 6,143,600 18,127,600 9,494,818 6,184,871 329,909 164,164 126.408 50,612 145,036 366,302 277,912 306.082 275.509
<br /> Projected Ending Fund Balance (42,709) i50,314., 1.175! 32.679 223,371 467.827 600.833 605,614 489.360 447,139 436,882
<br /> Beginning Cash Balance 0 0 0 34,424 226,166 469,696 602,701 607,482 491,228 449,007
<br /> Net Reveneus less Expenditures (50,346) (63,830) 146,755 190,792 234,456 143,006 (95,220) (16,254) (42,221) (10,257)
<br /> Interlund Loan Principal 64,286 48,401 (112,687) 0 0 0 0 0 0 0
<br /> Changes in Balance Sheet ;13,9401 15,429 356 (60! 83 0 0 0 0 0
<br /> Ending Cash Balance (42,709) 0 0 34,424 226,166 459,695 602,701 607,482 451,228 449.007 438,760
<br /> O
<br /> Management Review&Analysis-Tax Increment Financing Districts February 2012
<br /> New Brighton, Minnesota Page 100
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