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27 6. Summary of Individual Tax Increment Financing Districts City of New Brighton, MinnesotaTax Increment Financing (Housing) District No. 23Observations:Thorndale PlazaDistrict had zero cash balance while paying down Interfund Loan.Projected to be paid in full in 2019Original Modification Small remaining balance - deemed excessApproval Date4/12/199412/13/2005Actual budget did not exceed cumulative modified budgetRequest for Certification4/24/1994-----Certification Date11/14/1994-----Decertification Date12/31/201912/31/2019Prior Years Current Actual2017 & Prior 201820192020 (20,624) (2,777) 19,715 Original Budget Cumulative Modified Budget Projected over District TermTax increment revenue233,600 800,000 375,597 332,399 20,220 22,978 MVHC- - - Investment earnings- 80,000 (765) (847) 110 (28) Bond Proceeds- 300,000 - - - Sales/lease proceeds- - - - TIF credits- - - - Loan/advance payments- - - - Bond Premium- - - - - Other: Developer Deficiency- 100,000 - - - - Transfer In- - - - Estimated Tax Increment Revenues233,600 1,280,000 374,832 331,552 20,330 22,950 - - Land/building acquisition196,000 150,000 150,000 150,000 Site improvements/preparation costs- 86,000 - Utilities- - - Other qualifying improvements- - 5,544 5,544 Construction of affordable housing- - - Temporary ED- - - Authority Admin37,600 80,000 35,248 34,048 1,200 County Admin- - 4,969 4,053 458 458 Other qualifying improvements- 4,000 - Transfer Out- 300,000 25,000 25,000 Estimated Tax Increment Project Costs233,600 620,000 220,761 218,645 1,658 458 - Interest expense- 360,000 - Total233,600 980,000 220,761 218,645 1,658 458 - Bonds300,000 Surplus / (Deficit)- - Interfund - Interfund Principal- Interfund Interest134,356 133,531 825 Total Interfund Payments134,356 133,531 825 - - Transfers In- Transfer out- - - - Projected Ending Fund Balance(20,624) (2,777) 19,715 19,715 District Summary DetailsProjected
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