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6. Summary of Individual Tax Increment Financing Districts
<br /> U
<br /> City of New Brighton,Minnesota
<br /> Tax Increment Financing(Redevelopment)District No.26 Observations:
<br /> Brighton Corporate Business Park III
<br /> District Summary Details _ In-district obligations fulfilled
<br /> Original Modification Remaining balance to be used for pooling or admin
<br /> Approval Date 7/28/1997 12/13/2005 Continue monitoring budget to stay in compliance
<br /> Request for Certification 8/15/1997 ---- Admin expenses within allowable percentage starting 2020
<br /> Certification Date 1/22/1999
<br /> Decertification Date 12/31/2024 12/31/2024 t Projected
<br /> 2017&Prior 2018 2019 2020 2021-2024
<br /> 312,818 7,377 31,472 113,280 89,154
<br /> Original Budget Cumulative Modified Budget Projected over District Terri
<br /> Tax increment revenue 6,294,800 12,500,000 18,107,223 10,465,402 931,817 877,107 972,149 4,860,747
<br /> MVHC - 76,433 76,433 - -
<br /> Investment earnings 1,250,000 88,077 52,540 4,214 7,571 6,866 16,885
<br /> Bond Proceeds 5,653,125 - - - - -
<br /> Sales/lease proceeds 2,000,000 2,065,964 2,065,964 - - -
<br /> TIF credits 700,000 - - - - -
<br /> Loan/advance payments 100,000 - - - - -
<br /> Bond Premium - - - - - - -
<br /> Other:Developer Deficiency - - - - - - -
<br /> Transfer In 4,206,250 - - - - -
<br /> Estimated Tax Increment Revenues 6,294,800 26,409,375 20,337,696 12,660,339 936,031 884,678 979,016 4,877,633
<br /> Land/building acquisition 4,122,500 2,570,000 1,772,596 1,772,596 -
<br /> Site improvements/preparation costs 850,000 638,497 638,497 -
<br /> Utilities 500,000 398,515 398,515 -
<br /> Other qualifying improvements 202,500 2,690,176 2,690,176 -
<br /> Construction of affordable housing - - -
<br /> Temporary ED - - -
<br /> Authority Mmin 1,600,000 1,250,000 1,267,218 1,267,218 - -
<br /> County Admin 30,544 21,842 2,691 2,870 3,141 -
<br /> Other qualifying improvements 400,000 - - -
<br /> Transfer Out 572,300 8,200,000 10,012,012 2,925,000 750,000 800,000 1,000,000 4,537,012
<br /> Estimated Tax Increment Project Costs 6,294,800 13,972,500 16,809,558 9,713,844 752,691 802,870 1,003,141 4,537,012
<br /> 'Interest expense I - I 6,783,750 I 1,508,700I 1,506,171 2,529
<br /> 'Total I 6,294,800I 20,756,250 I 18,318,258 11,220,015 755,220 802,870 1,003,141 4,537,012I
<br /> Bonds 5,653,125
<br /> Surplus/(Deficit) - -
<br /> Bond Principal Payments (5,037,627) (4,880,911) (156,716)
<br /> Bond Proceeds Original 3,866,296 3,866,296 -
<br /> Bond Proceeds Refunding - - -
<br /> Bond Premiund(Discount) 633,494 633,494 -
<br /> Net Bond Payments (537,837) (381,121) (156,716) - - -
<br /> Interfund - -
<br /> Interfund Principal - -
<br /> Interfund Interest 1,051,826 1,051,826 -
<br /> Total Interfund Payments 1,051,826 1,051,826 - - - -
<br /> I Projected Ending Fund Balance I I 7,377 31,472 113,280 89,154 429,775 I
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