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City of New Brighton Recommendations:
<br /> Fund Salience Analysis 1) This district should be deeertiMd when the bonds are paid cif In 2020.
<br /> 71F 28 Rice Creek Center 2) Budget Modification: Net Recommended.
<br /> 3) City needs to have deeumenteWn ler bonded debt expenditures inside the district for poled debt
<br /> 4) Adjust Admin In 2010 Se be within 10%
<br /> General TIP District Information
<br /> Original I Modification
<br /> Distnct Type Redevelopment
<br /> Protect Area
<br /> City approved 4/28/1998 12/13/2005
<br /> Cart Request 6/10/1998 N/A
<br /> Certified 1/22/1999 N/A
<br /> 1lecertiles 12/31/2024 12/31/2024
<br /> End of
<br /> Current District
<br /> Cumulative Projected Acetd for
<br /> Original Modified Actual In Prior Actual Actual Actual Actual Pro)ectad
<br /> Budget Budget Total Years 2007 2009 2009 2010 2011 2012 2013 2014 2016
<br /> Beginning Fund Balance 0 74,061 116,397 168,077 257,460 394,046 114,623 190,943 270,098 343,711
<br /> Revenues
<br /> Tax increment 5,500,000 8,500,000 5,464,539 1,055,268 214,951 225,942 268,741 271,378 255,505 244,058 244,058 244,058 244,058
<br /> MVHC 0 0 0 0 0 0 0 0 0 0 0 0 0
<br /> Invedbnent Earnings 0 850,000 406,700 2,156 1,407 2,044 1,352 4,581 3,940 1,145 2,864 5,402 8,843
<br /> Bond Proceeds 0 4,756,250 1,322,392 1,322,392
<br /> Sales/Lease Proceeds 0 0 28,722 0 28,722'
<br /> Other: Required Local Contribution 275,000 5,000 238 238
<br /> Other: Mlecellasous 225,000 0 140 140
<br /> Transfer in 0 3,207,500 0 0
<br /> Total Revenues 6,000,000 17,318,760 7,222,731 2,380,194 216,368 227,386 270,093 304,681 269,446 246,203 246,922 249,460 262,901
<br /> Expenditures
<br /> Land/building acquisition 2,750,000 3,100,000 1,206,0013 1,206,008
<br /> Site Improvements 700,000 250,000 50,534 50,534
<br /> Public utilities 650,000 450,000 0 0
<br /> Bond
<br /> Principal 0 4,756,250 1,981,374 730,473 102,416 106,754 113,679 121,930 16,206 152,282 154,020 155,292 174,522
<br /> Interest 0 2,853,750 302,218 0 69,598 63,714 57,435 50,382 11,518 15,001 12,498 9,595 5,490
<br /> Loan
<br /> Principal 0 0 0 0
<br /> Interest 1,000.000 2,853,750 117,812 117,812
<br /> Admin 715,000 850,000 165,476 149.922 2,008 5,838 6,205 (4,662) 1,151 1,501 1,249 960 756
<br /> County Admin 0 0 3,836 0 3.401 435 'Jeanne Vogt:
<br /> Other: Printing&Publication Exp 185,000 5,000 133 133 Spending Pbn_
<br /> Other: Miscall 0 0 352 352 , Stuart/NBEx
<br /> Transfer out 0 2,200,000 560,992 50,899 510.093
<br /> Total Expenditures 6,000,000 17,318,760 4,388,736_ 2,306,133 174,022 176.306 180,720 188,086 638,868 168.784 167,767 165,847 180.788
<br /> Projected Ending Fund Balance 2,833,996 74,061 116,397 168,077 267,460 344,046 114,623 190,843 270,098 363,711 426,644
<br /> Beginning Cash Balance 0 71,862 114,298 159,972 258,281 416,460 136,927 213,347 292,602 376,116
<br /> Net Reveneus less Expenditures 74.061 42,336 51,680 89,373 136,596 (279,523) 76,419 79,155 83,613 72,133
<br /> Interfund Loan Principal 0 0 0 0 0 0 0 0 0 0
<br /> Changes in Balance Sheet 100 (8,0061 S,13'3 21.573
<br /> Ending Cash Balance 2,866,400 71,862 114.298 159,872 268,281 416.460 136,927 213,347 292,602 376,116 448.248
<br /> O Management Review&Analysis-Tax Increment Financing Districts February 2012
<br /> New Brighton, Minnesota Page 160
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