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6. Summary of Individual Tax Increment Financing Districts <br /> V <br /> Tax Increment Financing Redevelopment District No. 27 —Active <br /> Ken's Market <br /> Description: <br /> This Redevelopment District was established in order to assist with the development of a 3,200 square foot convenience store, a <br /> 1,200 square foot coffee shop, and a 12,000 square foot 2-story office building within the Development District. <br /> Adopted: 04/28/1998 <br /> Requested Date: 06/10/1998 <br /> Certified Date: 01/22/1999 <br /> First Year Increment 2001 <br /> Decertifies: 12/31/2026 <br /> Modifications: 03/27/2001- Budget modification <br /> 11/25/2003- Budget modification <br /> 12/14/2004- Budget modification <br /> 12/13/2005- Budget modification <br /> Current PIN Number(s) <br /> 32.30.23.44.0025 J <br /> Frozen Tax Rate: 122.918% Fiscal Disparities Election: Option A—outside district. <br /> Allowable Uses: <br /> MN Statute 469.176 sub 4j specifies the activities on which tax increment from a redevelopment district may be spent. In general, tax <br /> increment must be spent correcting those conditions which caused the area to be designated a redevelopment district. Allowable <br /> uses include property acquisition, demolition, rehabilitation, installation of public utilities, road, sidewalks, public parking facilities, and <br /> allowable administrative expenses. <br /> 23 <br />