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li 6. Summary of Individual Tax Increment Financing Districts
<br /> City of New Brighton,Minnesota
<br /> Tax Increment Financing(Redevelopment)District No.27 Observations:
<br /> Ken's Market District has zero cash balance while paying down Interfund Loan.
<br /> District Summary Details Projected to be paid in full in 2022
<br /> Original Modification Small remaining balance
<br /> Approval Date 4/28/1998 12/13/2005 Actual budget not expected to exceed cumulative modified budget
<br /> Request for Certification 6/10/1998 ---
<br /> Certification Date 1/22/1999 ---
<br /> Required Decertification Date 12/31/2026 12/31/2026 Prior Current Projected
<br /> Projected Early Decertification 12/31/2022 I 2017&Prior 2018 2019 2020 2021-2026
<br /> I - (138,665) (114,105) (84,778) (57,466)
<br /> I Cumulative Modified Bud•e Projected over District Ter.
<br /> Tax increment revenue 850,000 1,750,000 834,911 504,780 32,089 33,926 37,731 226,385
<br /> MVHC - - - - -Investment earnings - 140,000 20,941 17,836 175 448 506 1,976
<br /> Bond Proceeds - 775,000 - - - - -
<br /> Sales/lease proceeds - - - - - - -
<br /> TIF credits - - - - - - -
<br /> Loan/advance payments 7,500 10,000 - - - - -
<br /> Bond Premium 42,500 - - - - - - -
<br /> Other:Developer Deficiency - - - - - - - -
<br /> Transfer In - - - - - - -
<br /> Estimated Tax Increment Revenues 900,000 2,675,000 855,852 I 522,616 32,264 34,374 38,237 228,361
<br /> Land/building acquisition 500,000 525,000 294,200 294,200 -
<br /> Site improvements/preparation costs 127,000 25,000 - - -
<br /> Utilities - 65,000 - - -
<br /> Other qualifying improvements 15,000 210,000 - - -
<br /> Construction of affordable housing - - - - -
<br /> Temporary ED - - - - -
<br /> Authority Admin 110,000 140,000 59,434 50,734 1,700 7,000 -
<br /> County Admin - - 9,570 5,358 457 483 530 2,742
<br /> Other qualifying improvements 25,000 5,000 - - -
<br /> Transfer Out:Spending Plan - - 35,293 35,293 -
<br /> Transfer Out - - - - -
<br /> Estimated Tax Increment Project Costs 777,000 970,000 398,497 385,585 2,157 483 7,530 2,742
<br /> Interest expense 123,000 930,000 I 13,063 I 13,063 -
<br /> Total 900,000 1,900,000 I 411,560I 398,648 2,157 483 7,530 2,742
<br /> Bonds - 775,000
<br /> Surplus/(Deficit) - -
<br /> Bond Principal Payments (30,410) (30,410) -
<br /> Bond Proceeds Original - - -
<br /> Bond Proceeds Refunding - -
<br /> Bond Premium/(Discount) 2,000 2,000 -
<br /> Net Bond Payments (28,410) (28,410) - - - -
<br /> Interfund - -
<br /> Interfund Principal - -
<br /> Interfund Interest 250,951 234,223 5,547 4,564 3,396 3,221
<br /> Total Interfund Payments 250,951 234,223 5,547 4,564 3,396 3,221
<br /> I Projected Ending Fund Balance I 193,342 I (138,665) (114,105) (84,778) (57,466) 164,932 I
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