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6. Summary of Individual Tax Increment Financing Districts 43 43 City of New Brighton, Minnesota`Tax Increment Financing (Redevelopment) District No. 33Observations:Marv's Transmission SiteDistrict has zero cash balance while paying down Interfund Loan.District Summary DetailsNot projected to be repaid in full with existing fundsOriginal ModificationApproval Date 12/21/2006 ---- Actual budget not expected to exceed cumulative modified budgetRequest for Certification 12/26/2006 -----Certification Date 6/11/2007 -----Decertification Date 12/31/2033 ----Prior Years Current Projected2021 2022 2023 2024 2025-2033Beginning Fund Balance (267,923) (255,946) (244,553) (235,295) (225,574)Original Budget Cumulative Modified Budget Projected over District TermTax increment revenue475,000 - 503,179 216,714 23,153 21,943 21,943 21,943 197,484 MVHC- - - - - Investment earnings47,500 - (26,584) (5,412) (278) 68 (2,446) (2,353) (16,165) Special Assessments237,500 - - - - Sales/lease proceeds175,000 - - - - Sale of property- - 173,960 173,960 - Loan/advance payments- - - - - Grants- - - - - Other: - - - - - Transfer In- - - - - Estimated Tax Increment Revenues 935,000 - 650,555 385,262 22,875 22,011 19,497 19,590 181,320 Land/building acquisition350,000 - 354,720 354,720 - Site improvements/preparation costs15,000 - 47,995 47,995 - Utilities- - - - - Other qualifying improvements- - 16,967 16,967 - Construction of affordable housing- - - - - Temporary ED- - - - - Authority Admin47,500 - 43,856 44,192 (336) - County Admin- - 10,642 4,707 528 380 457 457 4,113 Other qualifying improvements- - - - - Transfer Out- - - - - Estimated Tax Increment Project Costs412,500 - 474,181 468,581 192 380 457 457 4,113 Interest expense285,000 - - - - Total697,500 - 474,181 468,581 192 380 457 457 4,113 Bonds 237,500 - Surplus / (Deficit) - - Bond Principal Payments- - - Bond Proceeds Original- - - Bond Proceeds Refunding- - - Bond Premium/(Discount)- - - Net Bond Payments- - - - - - - Interfund - - Interfund Principal- - Interfund Interest289,400 184,603 10,706 10,238 9,782 9,412 64,659 Total Interfund Payments289,400 184,603 10,706 10,238 9,782 9,412 64,659 Projected Ending Fund Balance(113,026) (267,923) (255,946) (244,553) (235,295) (225,574) (113,026)
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