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6. Summary of Individual Tax Increment Financing Districts 36 Tax Increment Financing (Redevelopment) District No. 26Observations:Brighton Corporate Business Park IIIIn-district obligations fulfilledOriginal Modification Remaining balance to be used for pooling or adminApproval Date 7/28/1997 12/13/2005 Budget projected to exceed cumulative modified budget in 2020Request for Certification 8/15/1997 ----- Admin expenses projected to exceed allowable percentage until 2020Certification Date 1/22/1999 -----Decertification Date12/31/2024 12/31/2024Prior Years Current2017 & Prior 2018 2019 2020 2021-2024 312,818 7,377 31,472 270,612 99,765 Original Budget Cumulative Modified Budget Projected over District TermTax increment revenue6,294,800 12,500,000 18,544,725 10,465,402 931,817 988,826 1,026,447 5,132,234 MVHC- 76,433 76,433 - - Investment earnings1,250,000 61,460 52,540 4,214 315 2,706 1,685 Bond Proceeds5,653,125 - - - - - Sales/lease proceeds2,000,000 2,065,964 2,065,964 - - - TIF credits700,000 - - - - - Loan/advance payments100,000 - - - - - Bond Premium- - - - - - - Other: Developer Deficiency- - - - - - - Transfer In4,206,250 - - - - - Estimated Tax Increment Revenues6,294,800 26,409,375 20,748,581 12,660,339 936,031 989,140 1,029,153 5,133,918 Land/building acquisition4,122,500 2,570,000 1,772,596 1,772,596 - Site improvements/preparation costs850,000 638,497 638,497 - Utilities500,000 398,515 398,515 - Other qualifying improvements202,500 2,690,176 2,690,176 - Construction of affordable housing- - - Temporary ED- - - Authority Admin1,600,000 1,250,000 1,267,218 1,267,218 - - County Admin24,533 21,842 2,691 - Other qualifying improvements400,000 - - - Transfer Out572,300 8,200,000 10,858,683 2,925,000 750,000 750,000 1,200,000 5,233,683 Estimated Tax Increment Project Costs6,294,800 13,972,500 17,650,218 9,713,844 752,691 750,000 1,200,000 5,233,683 Interest expense- 6,783,750 1,508,700 1,506,171 2,529 Total6,294,800 20,756,250 19,158,918 11,220,015 755,220 750,000 1,200,000 5,233,683 Bonds5,653,125 Surplus / (Deficit)- - Bond Principal Payments(5,037,627) (4,880,911) (156,716) Bond Proceeds Original3,866,296 3,866,296 - Bond Proceeds Refunding- - - Bond Premium/(Discount)633,494 633,494 - Net Bond Payments(537,837) (381,121) (156,716) - - - Interfund - - Interfund Principal- - Interfund Interest1,051,826 1,051,826 - Total Interfund Payments1,051,826 1,051,826 - - - - Projected Ending Fund Balance7,377 31,472 270,612 99,765 0 District Summary DetailsProjected
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