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6. Individual Summary of Tax Increment Financing 28 6. Summary of Individual Tax Increment Financing Districts Tax Increment Financing Redevelopment District No. 25 Decertified for payable 2018 Lakeview South Description: This Redevelopment District was established in order to assist with the development of three office/warehouse/manufacturing facilities totaling 162,500 square foot within the Development District. Adopted: 04/23/1996 Requested Date: 05/31/1996 Certified Date: 11/20/1996 First Year Increment 1998 Decertifies: 12/31/2018 Modifications: 03/27/2001- Budget modification 11/25/2003- Budget modification 12/14/2004- Budget modification 12/13/2005- Budget modification Current PIN Number(s): 19.30.23.43.0040 Fiscal Disparities Election: The City elected to calculate fiscal disparities from outside (A election) the district. Frozen Tax Rate: 129.378% 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 redevelopment district. Allowable uses include property acquisition, demolition, rehabilitation, installation of public utilities, road, sidewalks, public parking facilities, and allowable administrative expenses.