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6. Individual Summary of Tax Increment Financing 32 6. Summary of Individual Tax Increment Financing Districts City of New Brighton, MinnesotaTax Increment Financing (Redevelopment) District No. 25Lakeview SouthPrior Years Current ProjectedExpenses2017 & Prior 20182019Accumulated Admin Expenses1,060,000 384,942 443,231 443,231 Accumulated Total Expenses10,600,000 4,300,499 4,599,585 4,599,585 Allowable Admin10%9.0%9.6%9.6%Pooling CalculationPrior Years Current ProjectedProjected Total Pooling2017 & Prior 20182019Step 1:Cumulative Tax Increment- 5,434,270 4,831,306 5,119,249 5,434,270 Current Year- 287,943 315,021 Total- 5,434,270 5,119,249 5,434,270 5,434,270 In-District Expenditures75%4,160,277 4,175,641 4,176,181 Current Year15,364 540 - Total4,075,703 4,175,641 4,176,181 4,176,181 Maximum Allowable Expenses5,434,270 5,567,521 5,568,241 5,568,241 Return to County000Annual Qualifying Costs25%1,358,568 1,279,812 78,755 - Less: Out-of-district spendingAdmin443,231 (384,942) (58,289) - 2004B Bonds(272,133) (272,133) 2012B Bonds(280,646) (210,062) (70,584) Transfers(168,534) - (168,534) Cumulative Available Amount for Pooling1,080,486 412,675 (218,652) - Ending Cash Balance0 6,939 6,939 Available for Pooling (lesser of cash balance or cumulative pooling amount)0 (218,652) - Administrative Expenses Limit Test MN Statutes 469.176 Subd. 3
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