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7 6. Summary of Individual Tax Increment Financing Districts
<br /> V
<br /> City of New Brighton,Minnesota
<br /> Tax Increment Financing(Redevelopment)District No.29
<br /> BCPN South(Soo Line)
<br /> Administrative Expenses Limit Test MN Statutes 469.176 Subd.3 _ Prior Years Current Projected
<br /> Expenses 2017&Prior 2018 2019 2020 2021-2027
<br /> Accumulated Admin Expenses 271,250 49,053 49,053 49,053 51,853 51,853
<br /> Accumulated Total Expenses 2,712,500 566,610 570,912 573,992 575,989 579,419
<br /> Allowable Admin 10% 8.7% 8.6% 8.5% 9.0% 8.9%
<br /> Pooling Calculation Prior Years Current Projected
<br /> Projected Total
<br /> Pooling 2017&Prior 2018 2019 2020 2021-2027
<br /> Step 1: Cumulative Tax Increment 1,049,117 524,039 566,838 605,429 644,439 694,405
<br /> Current Year 42,799 38,591 39,010 49,966 354,712
<br /> Total 1,049,117 566,838 605,429 644,439 694,405 1,049,117
<br /> Step 2: In-District Expenditures 75% 548,272 548,272 552,574 555,654 561,081
<br /> Current Year 112,090 4,302 3,079 1,998 3,430
<br /> Total 561,081 548,272 552,574 555,654 557,651 564,511
<br /> Maximum Allowable Expenses 748,109 731,029 736,766 740,872 743,535 752,682
<br /> Return to County 0 0 0 0 296,435
<br /> Annual Qualifying Costs 25% 262,279 182,757 9,648 9,753 12,492 188,170
<br /> Less:Out-of-district spending
<br /> Admin (51,853) (49,053) - - (2,800) -
<br /> 2004B Bonds (26,363) (26,363)
<br /> 2012B Bonds (36,841) (26,459) (10,382)
<br /> Transfers - -
<br /> Cumulative Available Amount for Pooling 147,222 80,882 (734) 9,753 9,692 188,170
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