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3. Fundamentals of Tax Increment Financing (TIF) 6. Summary of Individual Tax Increment Financing Districts 23 23 Obligations: The Ken’s Market TIF District currently has an interfund loan for $84,778 from the Municipal Development Fund #560. In-District Obligations: Interfund Loan from Fund #460 Through 2022 Pooled Obligations: 2012B (Refunded 2004B) Paid in full Proceeds to TIF #31 & #32 Three Year Rule: The Ken’s Market TIF District met the 3-year rule. Four Year Rule: The Ken’s Market TIF Four Year Rule deadline was January 2003. Five Year Rule: The five-year deadline was January 2004, by which time the development agreement was signed and obligations were issued. Geographic Enlargements: MN Statute 469.175 sub 4(f) places limits on the length of time a TIF district may add parcels. No parcels may be added five years after the certification date. The Ken’s Market TIF may not be enlarged after January 2004.