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[05a] 2009 TIF Reports
cf r%' OF S9: JONKPH MEETING DATE: AGENDA ITEM: SUBMITTED BY: July 8, 2010 2009 TIF Reports Finance Council Agenda Item _5(a) PREVIOUS COUNCIL /BOARD ACTION: The EDA reviewed the draft 2009 TIF reports for Borgert Products, St. Joseph Development and Millstream Shops & Lofts. The EDA recommended approval of the 2009 reports. BACKGROUND INFORMATION: Annually the City is required to submit TIF reports to the State Auditor for each certified TIF District within the City. State Statute requires filing the reports by August 15` of each year. For 2009 there are three certified districts — Borgert Products (TIF 1 -3), St. Joseph Development (TIF 1 -4) and Millstream Shops & Lofts (TIF 201). Borgert Products was decertified on September 22, 2009; therefore, the 2009 TIF report will be the last report for the District. Upon approval by the Council, a summary disclosure of each District will be published in the St. Joseph Newsleader and the reports will be submitted to the State Auditor. BUDGET /FISCAL IMPACT: Year -end Summary Only ATTACHMENTS: Request for Council Action 5(a):1 -2 TIF District 1 -4 (Vic West /Fabral) 5(a):3 -10 TIF District 1 -3 (Borgert Products) 5(a):11 -18 TIF District 2-1 (Millstream Shops and Lofts) 59a):19 -26 REQUESTED COUNCIL ACTION: Approve the 2009 TIF reports as presented. S(a):1 THIS PAGE INTENTIONALLY LEFT BLANK 5(a):2 i Tax Increment Financing District Report I For The Year Ended December 31, 2009 TIF 14 St Joe Development, LLC 110 Tax Increment Financing District Name _ County Number(s) Saint Joseph Saint Joseph TIF Authority Municipality That Approved TIF District Steams Saint Joseph County Where TIF District is Located City/Town Where TIF District Is Located Judy Weyrens Administrator (320) 363 -7201 TIF Authority's Authorized Representative Title Phone Number City of St. Joseph (320) 363 -0342 Employer of Authorized Representative (if different from TIF authority) Fax Number PO Box 668 Address - -- St Joseph City jweyrens@cityofstjoseph.com E -mail Address MN 56374 State Zip Code 1. TIF District type: 0 Pre-1979 Q Redevelopment b Renewal and Renovation 0 Housing O Eamomk Developmment O Soils Condition O Uncadifled law, (Specify) — 2. Is this a "Qualified Housing District" as defined in MN Stat. 469.174, subd. 29(2003)? 3. TIF -plan approval date(s): A. Original .................................................................. ............................... . B. Modification date(s): .......................................... 4. Certification request date(s): A. Original ............................................... B. Geographic enlargement date(s): ............. C. Hazardous substance subdistrict date(s): ........................................................... 5. Certification date(s): A. Original ......................................................................... ............................... B. Geographic enlargement dale(s): ..................................................................... C. Hazardous substance subdistrict date(s): ...................................................... 6. Month and year first tax increment payment received (actual or anticipated): O Yes ON 06272002 ❑ irldk App1Da61e; a. 07/182002 b. 07/312002 a. a. 09109/2003 a. a. 5 / 2004 A. If an election to delay the first receipt of tax increment has been made under . Not40*e MN Statute 469.175 subd. 1(b) and is identified in the TIF Plan, please select the number of years to delay. Years: = 7. Date of required decertification: ................................................................................... 121312012 7a. Duration of the district is based on: ................................................... Statutory Maximum Duration B. Actual decertification date: .......................................................... pot�,pptic ,.. 5(a):3 Tax Capacity for Taxes Payable in 2009 O Hotapple D of AWkz le _jwcounted for in Prior Years Q Djwkt is Dmmpr I I 18. For activities and improvements outside TIF district $ 01$ 0 Value 9. Current net tax capacity + $ 62,012 10. Original net tax capacity - $ 1,830 11. Captured net tax capacity = $ 60,182 12. Fiscal disparity deduction, if applicable - $ 0 13. Captured net tax capacity shared with other taxing jurisdictions - $ 0 14. Captured net tax capacity retained by TIF authority = $ 60,182 15. Is this TIF district located in a fiscal disparities area and is it under option A? • k0i MA 16. If yes, indicate the amount of total tax increase from the Commissioner of Revenue Fiscal Disparities Contribution Statement .... ............................... $ Not Applk 17. Has the municipality created a special taxing district for this TIF district? . ............................... • Tax Increment Expenditures Outside the TIF District O Hotapple _jwcounted for in Prior Years 2009 Amount 18. For activities and improvements outside TIF district $ 01$ 0 Transfers 12 NctAppleebe Tax Increment Expenditures Outside the TIF District -Accounted for in Prior Years Amount 19. From other TIF districts Forums. rows b.~ mae I in 1mynn. 90 b ma tow and Prsn L q. A. 20. From other funds " < : Formore mob sift awe kdarm lw go to tattow w0 "M MMJ U ,. A. 21. Total Transfers In (to line 36 ) IIs 0 $ 0 Transfers Out - To Other TIF Districts or Funds 22. To other TIF districts .. ,. .,; : Fa morM rotors fo srder mas lntotrnbion.go b Mpt row and pee• ;W, , , , = � _ � +� . � , , A. 23. Tax increment to other funds For= rows b er ;w M+tonnstbn, go b lsst3ow and prses:,tioMr Grl and U trays "`;1 " _ A. 24. Non -tax increment to other funds For mors low to Ardw nwro hbar ftm gob ba r www baftmW4101, " > A. 25. Total Transfers Out (to line 52) 1 $ 0 $ 0 Authority: Saint Joseph District: TIF 1-4 St Joe Development, LLC 5(a):4 OPERATING STATEMENT Revenues and Other Financing Sources (OFSs) Original TIF -Plan Budget Amount Cumulative Modified TIF -Plan Budget jAccounted for in Prior Years 2009 Amount WARNING: The instructions 26. Tax increment revenue contain information $ necessary 643,000 to complete $ this 292,286 page. $ 66,192 27, Market Value Homestead Credit $ 0 $ 0 "M1643,000 28. Investment earnin s $ 0 $ 2,318 $ 1,385 29. Bond roceeds 0 $ 0 $ 0 30. Loan proceeds $ 0 $ 0 $ 0 31. Special assessments $ 0 $ 0 $ 0 32. Sales/lease eroceeds $ 0 $ 0 $ 0 33. Loan /advance repayments $ 0 $ 0 $ 0 34. Grants 1 $ 0 $ 0 $ 0 35. Other (describe) For nwe rovrs VD a ft more #rOmIOW4 yo b AM rvw and Pew bodl CNI and u keys. A. Developer fee $ 0 $ 0 $ 12,200 B. 36. Transfers in (from line 21 ) $ 0 $ 0 $ 0 $ p 37. Total Revenues and OFSs Expenditures and Other Financing Use OFUs 38. Land /building acquisition $ $ 643,000.$ 300,000 $ 643,000.$ 308,000 $ 306,804 220,536 i 67,577 $ 59,573 39. Site improvements/ preparation costs $ p $ 50,000 $ 0 40. Installation of public utilities $ 0 $ 0 $ 0 41. Parking facilities $ 0 $ 0 $ 0 42. Streets and sidewalks $ 104,400 $ 46,400 $ 0 43. Public park facilities $ 0 $ 0 $ 0 44. Social, recreation, or conference facilities $ p $ 0 $ 0 45. Interest reduction payments $ 0 $ 0 $ 0 46. Bond principal payments $ 0 $ 0 $ 0 47. Bond interest payments $ 0 $ 0 $ 0 48. Loan principal payments $ 0 $ 0 $ 0 49. Loan/note interest payments $ 130,000 $ 130,000 $ 24,113 50. Administrative expenses $ 64,300 $ 64,300 $ 14,900 $ 380 51. Other (describe) " -`; ', Formasrows morr+ �o ;. rows u w A. Capitalized interest $ 42,000 $ 42,000 $ 0 B. Office of the State Auditor $ 2,300 $ 2,300 $ 0 C. Reimburse tax jurisdictions $ 0 $ 0 $ 20,550 D. 52. Transfers out (from line 25) $ 0 $ 0 $ 0 $ 0 53 Total Expenditures and OFUs $ 643,000 $ 643,000 $ 280,099 $ 59,953 54. Revenues and OFSs Over (Under) Expenditures and OFUs 55. Fund Balance - 12/31/08 56. Fund Balance - 12/31/09 $ 0 $ 0 $ 26,705 $ 7,624 $ 26,705 $ 34,329 Authority: Saint Joseph District: TIF 1-4 St Joe Development, LLC 5(a):5 BALANCE SHEET JEI 1rotAppem le Assets On or After 7/2/97 As of 12/31108 $ 0 of 12/31/09 57. Cash $ 26,638 $ 34,057 58. Due from other funds $ 0 $ 0 59. Other assets (specify or more rows to enter more kdo nwdon. go lo last mwand press 643,000 70. Principal paid in 2009 $ 0 $ 0 both'Ctd and u keys. 59,573 A. Tax increment receivable $ 362,871 $ 303,298 B. Interest Receivable $ 67 $ 272 C. 0 $ 0 73. Outstanding 12/31/09 60. Total Assets $ 389,5761 $ 337,627 Liabilities 74. Principal due in 2010 $ 0 $ 0 $ 61. Due to other funds 75. Interest due in 2010 $ 0 $ 62. Other liabilities (specify) For more rows b sift more Monna5m. polo last row and press u 0 A. St Joe Development LLC PAYG $ 362,871 $ 303,298 B. 63. Total Liabilities $ 362,871 $ 303,298 64. Fund Balance $ 26,705 $ 34,329 65. Total Liabilities and Fund Balance $ 389,576 $ 337,627 Investment Earnings JEI 1rotAppem le On or Before 7/1/97 On or After 7/2/97 66. Investment earnings $ 0 $ 3,703 Property Sales /Leases and Advance /Loan Repayments I p 0.© A On or Before 6130197 On or After 711/97 67. Proceeds from sale or lease of property $ 0 $ 0 68. Repayment of advances and loans (exclude interest) $ 0 $ 0 Non - Pooled TIF Bonds and Other Financial Obligations ❑ Not/lppdmw TIF Bonds Other Financial Obligations General Obligations Revenue 69. Issue amounts $ 0 $ 0 $ 643,000 70. Principal paid in 2009 $ 0 $ 0 $ 59,573 71. Principal issued in 2009 $ 0 $ 0 $ 0 72. Interest paid in 2009 $ 0 $ 0 $ 0 73. Outstanding 12/31/09 $ 0 $ 0 $ 303,298 74. Principal due in 2010 $ 0 $ 0 $ 68,380 75. Interest due in 2010 $ 0 $ 0 $ 0 Authority: Saint Joseph District: TIF 1 -4 St Joe Development, LLC 5(a):6 76. Amount of tax increment held dedicated to the payment of non - pooled TIF bonds. $ 1 0 WA 77. Is amount on line 76 held in an escrow account? ................................... ............................... No " • NA 78. If refunding bonds have been issued, indicate the year(s) and amount(s) of the refunding issue(s): N/A For mom row 'to ardw mom krWimillon, go to Md row and prm both Ctd and u tasys. Year Amount 79. If pay -as- you -go financing is being used, report the amount of documented developer costs incurred through December 31, 2009. 80. If property owners have received reimbursement of special assessments, report the amount reimbursed through December 31, 2009. 81. Please list the estimate, if any, contained in the TIF plan of the amount of the cost of the project, including administrative expenses, that will be paid or financed with tax increment. Any TIF plan or amendment approved after June 30, 2003 must contain this estimate. $ 3,380,000 ❑ tY/A $ 643,000 ❑ WA 82. If the TIF district has special legislation, specify the year, chapter, article, and section of the law. d tY/f► For more rows io rrer•moir Ir+brnrion. po b 1r»t�ow it d '*W. troth j*t:arrd p Irrys Year Chapter Article Section vzzamw� —1 83. Indicate whether the authority has worked with the county auditor to correct an error qualifying under Minn. Stat. § 469.177, subd. 13 for this district. This includes errors in the certification or decertification of TIF districts, as well as other errors related to the computation of increment. rwase emer any comment you wouw like to share with us below. (Maximum 255 characters each UYas nONo` F Lines 70 -75: The Auditor indicated all future TIF can be applied directly to principal with no interest payment. This has been shown beginning in 2005. Steams County over -paid the TIF in 2005 for this district. The City refunded Steams County $20,550 for redistribution to all taxing authorities in July 2008. The redistribution was reported in the 12/31/08 report under line 51.c. Authority: Saint Joseph District: TIF 1-4 St Joe Development, LLC 5(a):7 Name of TIF Authority: Name of Municipality: 2009 ANNUAL DISCLOSURE STATEMENT Saint Joseph Saint Joseph The following information represents the annual disclosure of tax increment districts for the year ended December 31, 2009. St. Joseph Newsreader 7/16/2010 (Name of the Newspaper) on (Date of Publication) l i mm vnuun um taum must ue pwasneD even If me anRUnts lD De puDasnea are Zero.) ' The fiscal disparities property tax law provides that the growth in commercial - industrial property tax values is shared throughout the area. In a tax increment financing district, this value sharing can either result in a tax Increase for other properties in the municipality or result in a decrease in tax increment financing district revenue depending on how the tax increment financing district is established. Tax Increment Financing District TIF 1-4 St Joe Development, LLC (name) does not share its growth in commercial - industrial property tax values. This results in an increase in property taxes for other properties in this municipality. For taxes payable in 2009, this increase in taxes on other properties amounted to $ . (This paragraph needs to be published for each district for which it applies. Please attach additional pages, if needed.) Additional information regarding each district may be obtained from: (Required to be published) Judv Wevrens Name of TIF Representative PO Box 668, St Joseph, MN 56374 (320) 363.7201 Address (Street. City. Zip) Phone Note to preparer. Publishing the last line of the table and the two paragraphs following the table is necessary only if a TIF district in the municipality is located in the fiscal di0pefilies area and the municipality chose option A "under Minn. Stat. 469.177, subd. 3(a), for the TIF district. 5(a):8 Name of TIF District TIF 1-4 St Joe Development, LLC Current net tax ca $ 62,012 Original net tax capacity $ 1,830 Captured net tax ca $ 60,182 Principal and interest payments due in 2010 $ 68,380 Tax increment received in 2009 $ 67,577 Tax increment expended in 2009 $ 59,953 Month and year of first tax increment receipt 5/2004 Date of required decertification 12/31/2012 Increased property tax imposed on other properties as a result of fiscal disparities contribution' $ 0 l i mm vnuun um taum must ue pwasneD even If me anRUnts lD De puDasnea are Zero.) ' The fiscal disparities property tax law provides that the growth in commercial - industrial property tax values is shared throughout the area. In a tax increment financing district, this value sharing can either result in a tax Increase for other properties in the municipality or result in a decrease in tax increment financing district revenue depending on how the tax increment financing district is established. Tax Increment Financing District TIF 1-4 St Joe Development, LLC (name) does not share its growth in commercial - industrial property tax values. This results in an increase in property taxes for other properties in this municipality. For taxes payable in 2009, this increase in taxes on other properties amounted to $ . (This paragraph needs to be published for each district for which it applies. Please attach additional pages, if needed.) Additional information regarding each district may be obtained from: (Required to be published) Judv Wevrens Name of TIF Representative PO Box 668, St Joseph, MN 56374 (320) 363.7201 Address (Street. City. Zip) Phone Note to preparer. Publishing the last line of the table and the two paragraphs following the table is necessary only if a TIF district in the municipality is located in the fiscal di0pefilies area and the municipality chose option A "under Minn. Stat. 469.177, subd. 3(a), for the TIF district. 5(a):8 Excess Increment Calculation Report For The Year Ended December 31, 2009 TIF 14 St Joe Development, LLC Formula 110 Tax Increment Financing District Name County Number(s) Saint Joseph Saint Joseph $ 20,550 TIF Authority Municipality That Approved TIF District $ 341,631 Steams Saint Joseph $ 643,000 County Where TIF District is Located City/Town Where TIF District Is Located Judy Weyrens Administrator (320) 363 -7201 TIF Authority's Authorized Representative Title Phone Number City of St. Joseph = (320)3 342 Employer of Authorized Representative (if different from TIF authority) Fax Number PO Box 668 jweyrens@cityofstjoseph.com - Address E -mail Address + St Joseph MN 56374 _ City Zip Code Please note the excess increment statute was amended during the 2005 Legislative Session. There were three significant changes. - Nine -month time limit. The Legislature introduced a nine -month time limit in which excess increment must be spent or returned to the county for redistribution. - Transfers for d ficit pgoling. The Legislature included transfers made to eliminate deficits in other districts as part of the excess increment calculation. These transfers are authorized expenditures under the TIF Act and should be taken into account when calculating excess increment. - Excess increment aoolies 12 Pre-197 TIF Districts. The Legislature established specific rules regarding pre -1979 TIF districts. The excess increment statute states that "excess increments equal the amount of increments on hand on December 31, less the principal and interest obligations due on outstanding bonds or advances, qualifying under subdivision 1c, clauses (1), (2), and (5), after December 31 of the year and not prepaid under paragraph (c)." In other words, if no outstanding obligations exist as of December 31, any tax increment that remains is excess increment. 5(a):9 Formula Value 1. Total tax increment received $ 362,181 2. Excess increments repaid in prior years - $ 20,550 3. Subtract line 2 from line 1 0 $ 341,631 4. Total costs authorized to be paid with tax increment $ 643,000 5. Total authorized costs paid from other sources 6. Total non -TIF funds dedicated to pay authorized costs + $ 12,200 7. Total bond principal and interest outstanding + $ 303 ,298 8. Add lines 5 through 7 = $ 315,498 9. Amount from line 4 $ 643,000 10. Amount from line 8 - $ 315,498 11. Total transfers of increment to reduce deficits made by 12/31/2009 + 12. Subtract line 10 from line 9 and add 11 (If negative number, show -0-) _ $ 327,302 13. Amount from line 3 $ 341,631 14. Amount from line 12 - $ 327,502 15. Subtract line 14 from line 13 (If negative, show 0) Excess Tax Increment = $ 14,129 16. Amount of excess increment used to prepay outstanding bonds 17. Amount of excess Increment paid into escrow dedicated to payment of outstanding bonds + $ 14,129 18. Amount of excess increment returned to the county + $ 0 19. Add lines 16 through 18 = $ 14,129 5(a):9 THIS PAGE INTENTIONALLY LEFT BLANK 5(a):10 I Tax increment Financing District Report For The Year Ended December 31, 2009 TIF 1 -3 Borgert Prod 89 Tax Increment Financing District Name County Number(s) Saint Joseph Saint Joseph TIF Authority Municipality That Approved TIF District Steams Saint Joseph County Where TIF District is Located City/Town Where TIF District Is Located Judy Weyrens Administrator (320) 363 -7201 TIF Authoritys Authorized Representative Title Phone Number City of St. Joseph (320) 363-0342 Employer of Authorized Representative (if different from TIF authority) Fax Number PO Box 668 jweyrens@cityofstjoseph.com Address E -mail Address St Joseph MN 56374 City State Zip Code I. 111- uistnct type: O Pre -1979 O Redevelopment O Housing Economic Developmment O Uncodified Law, (Specify) 2. Is this a "Qualified Housing District" as defined in MN Stat. 469.174, subd. 29(2003)? 3. TIF -plan approval date(s): A. Original ................................................................. ............................... . B. Modification date(s): ................................................................................ O Renewal and Renovation O Soils Condition 4. Certification request date(s): A. Original ......................................................................... ............................... B. Geographic enlargement date(s): ..................................................................... C. Hazardous substance subdistrict date(s): ........................................................... 5. Certification date(s): A. Or lginal ........................................................................ ............................... . B. Geographic enlargement date(s): ..................................................................... C. Hazardous substance subdistrict date(s): ........................................................... 6. Month and year first tax increment payment received (actual or anticipated): A. If an election to delay the first receipt of tax increment has been made under MN Statute 469.175 subd. 1(b) and is identified In the TIF Plan, please select the number of years to delay. 03/31/1999 Nd Applstle 06/22/1999 Q � APPS; a. a. 7 / 2000 Years: 7. Date of required decertification: ..................................................................................... 09 122/2009 7a. Duration of the district is based on: ................................................... Statutory Maximum Duration 8. Actual decertfcation date: .......................................................... ❑ NdAppNiable 06!04/2009 5(a):11 Tax Capacity for Taxes Payable in 2009 CO wotApplkwble,, ❑ pt&tr dis WMRr Accounted or in Prior Years Value 18. For activities and improvements outside TIF district 9. Current net tax capacity + 0 10. Original net tax capacity 11. Captured net tax capacity = $ 0 12. Fiscal disparity deduction, if applicable Tax Increment Expenditures Outside the TIF District 13. Captured net tax capacity shared with other taxing jurisdictions Amount 14. Captured net tax capacity retained by TIF authority n $ 0 15. Is this TIF district located in a fiscal disparities area and is it under option A? • 16. If yes, indicate the amount of total tax increase from the Commissioner of Revenue Fiscal Disparities Contribution Statement .... ............................... $ ►VOCftppllrable 17. Has the municipality created a special taxing district for this TIF district? . ............................... e Tax Increment Expenditures Outside the TIF District p Not nPPii�le Accounted or in Prior Years Amount 18. For activities and improvements outside TIF district $ 01$ 0 Transfers D- NatAppksble Tax Increment Expenditures Outside the TIF District counts or in Prior Years Amount 19. From other TIF districts tows b iSflM►M01e 11*R WAW% 90 46 UK raw and plan w g, v ,r , A. 20. From other funds �M� .yam 'N' 9: y'L.W, For mae 19MIDWAK "W**VbMMt10n. gob lset+ow:end'pe--t�oth,. RR A. I 21. Total Transfers In (to line 36) $ 0 $ 0 Transfers Out - To Other TIF Districts or Funds 22. To other TIF districts °^ x Forawfs royrs beater more idortnstlon, yo b.11est iow end pees u;: A. 23. Tax increment to other funds ._ ,, .;, Fw more sows b enter nw�e iNommtlon. baest pow u�d piss both ctrl antl u;l�rs� K "� �� *�""�`° , � ^ . •: A. Reimburse General Fund for TIF1 -3 Admin Expenses $ 5,948 B. 24. Non -tax increment to other funds For MOMMws b,~ moro k0 n *1101, go SWIM mw *W pies both Cbt.wwu ;key '( _' �' .., ?. . A. 25. Total Transfers Out (to line 52) 1 $ 5,9481 $ 0 Authority: Saint Joseph District: TIF 1 -3 Borgert Prod 5(a):12 OPERATING STATEMENT Revenues and Other Financing Sources (OFSs) Original TIF -Plan Budget Amount Cumulative Modified TIF -Plan Budget Accounted for in Prior Years 2009 Amount WARNING: The instructions contain 26. Tax increment revenue $ information 317,883 $ necessary 0 to complete $ this 172,314 page. 27. Market Value Homestead Credit $ 0 $ 0 28. Investment earnings $ 0 $ 0 $ 365 29. Bond proceeds $ 0 $ 0 $ 0 30. Loan proceeds $ 0 $ 0 $ 0 31. Special assessments $ 0 $ 0 $ 0 32, Sales/lease proceeds $ 0 $ 0 $ 0 33. Loan /advance repayments $ 0 $ 0 $ 0 34. Grants 1 $ 0 $ 0 $ 0 35. Other (describe) For moro r wa enter naro kftm ation. bo w iw row and pees both Ctrl and u kaya A. Deferred TIF revenue received $ 0 $ 0 $ 2,207 B. Miscellaneous' $ 31,788 $ 0 $ 0 C. 36. Transfers in (from line 21) $ 0 $ 0 $ 0 $ 0 37. Total Revenues and OFSs Expenditures and Other Financing Uses OFUs 38. Land /building acquisition $ $ 349,671 206,991 $ $ 0 0 $ $ 174,886 95,438 $ 0 39. Site improvements/ preparation costs $ 0 $ 0 $ 0 40. Installation of public utilities $ 0 $ 0 $ 0 41. Parking facilities $ 0 $ 0 $ 0 42. Streets and sidewalks $ 0 $ 0 $ 0 43. Public park facilities $ 0 $ 0 $ 0 44. Social, recreation, or conference facilities $ 0 $ 0 $ 0 45. Interest reduction payments $ 0 $ 0 $ 0 46. Bond principal payments $ 0 $ 0 $ 0 47. Bond interest payments $ 0 $ 0 $ 0 48. Loan principal payments $ 0 $ 0 $ 0 49. Loan /note interest payments $ 110,892 $ 0 $ 59,564 50. Administrative expenses $ 31,788 $ 0 $ 3,145 51. Other (describe) " For mom ram enter am idortnrion ' to last mw and do pessbolhCtrtandv'k" -.- re , •. :exs ' A. Adjustment -audit 04 needed $ 0 $ 0 $ 10,791 B. 52. Transfers out (from line 25) $ 0 $ 0 $ 5,948 $ 0 53 Total Expenditures and OFUs $ 349,671 $ 0 $ 174,886 $ 0 54. Revenues and OFSs Over (Under) Expenditures and OFUs $ 0 $ 0 $ 0 $ 0 55. Fund Balance - 12131/08 56. Fund Balance - 12/31/09 $ 0 $ 0 Authority: Saint Joseph District: TIF 1 -3 Borgert Prod 5(a):13 BALANCE SHEET I ❑ MgtApp9tble, On or After 7/1197 Assets On or After 712/97 s of 12/31/08 $ 0 As of 12/31109 57. Cash $ 0 General Obligations Revenue 58. Due from other funds $ 0 $ 0 59. Other assets (specify) For mom rows 10 enter mom Monnetlon,.po to lest row MW prea 145,000 70. Principal paid in 2009 $ 0 $ 0 troth Ctrl and u'kep.. 0 A. Tax increment receivable $ 38,772 $ 0 B. Interest Receivable $ 0 $ 0 C. 0 $ 0 73. Outstanding 12/31/09 60. Total Assets $ 38,772 $ 0 Liabilities 74. Principal due in 2010 $ 0 $ 0 $ 61. Due to other funds 75. Interest due in 2010 $ 0 $ 62. Other liabilities (specify) 11 11 for more rows to w*w mom kown oom go b hw tow and prow $ 0 bolhOW wW u A. Pay-as-you-go contract $ 38,772 $ 0 B. 63. Total Liabilities $ 38,772 $ 0 64. Fund Balance $ 0 $ 0 65, Total Liabilities and Fund Balance $ 38,772 $ 0 Investment Earnings I ❑ MgtApp9tble, On or After 7/1197 On or Before 711/97 On or After 712/97 66. Investment earnings $ 0 $ 365 Property Sales /Leases and Advance /Loan Repayments p NMw we On or Before 6130197 On or After 7/1197 67. Proceeds from sale or lease of property $ 0 $ 0 68. Repayment of advances and loans (exclude interest ) $ 0 $ 0 Non - Pooled TIF Bonds and Other Financial Obligations ❑, Not AppNG" TIF Bonds Other Financial Obligations General Obligations Revenue 69. Issue amounts $ 0 $ 0 $ 145,000 70. Principal paid in 2009 $ 0 $ 0 $ 0 71. Principal issued in 2009 $ 0 $ 0 $ 0 72. Interest paid in 2009 $ 0 $ 0 $ 0 73. Outstanding 12/31/09 $ 0 $ 0 $ 0 74. Principal due in 2010 $ 0 $ 0 $ 0 75. Interest due in 2010 $ 0 $ 0 $ 0 Authority: Saint Joseph District: TIF 1 -3 Borgert Prod 5(a):14 76. Amount of tax increment held dedicated to the payment of non - pooled TIF bonds. $ 0 ❑ N/A 77. Is amount on line 76 held in an escrow account? .................................... ..............................Q • No NA 78. If refunding bonds have been issued, indicate the year(s) and amount(s) of the refunding issue(s): For moss rows to wftr wn do r oft , go to last row and press both CM and v keys: Year Amount 79. If pay -as- you -go financing is being used, report the amount of documented developer costs incurred through December 31, 2009. 80. If property owners have received reimbursement of special assessments, report the amount reimbursed through December 31, 2009. 81. Please list the estimate, if any, contained in the TIF plan of the amount of the cost of the project, including administrative expenses, that will be paid or financed with tax increment. Any TIF plan or amendment approved after June 30, 2003 must contain this estimate. $ 145,000 WA. $ 317,833 -WA 82. If the TIF district has special legislation, specify the year, chapter, article, and section of the law. d WA ,,,,:. ly `"sad ifor mole aaira.to anler arore ' ' s •sOmrssarr,';prs 1D Iibftewa�.proii tali Crt�pd:u Irsjsi. ; Year Chapter Article Section 83. Indicate whether the authority has worked with the county auditor to correct an error qualifying under Minn. Stat. § 469.177, subd. 13 for this district. This includes errors in the certification or b YIN 06 decertification of TIF districts, as well as other errors related to the computation of increment. C inter any comment you would like to share with us below. (Maximum 255 characters each) 01fied on June 4, 2009. Decertification form was received by the Office of the State Auditor. There was a as of 12/31/08; therefore, no activity to report for 2009. transfer reported in the 12/31/08 TIF report was reported in the 12/31/09 audited financial statements for the reported again on the TIF reports for 12/31/09. Authority: Saint Joseph District: TIF 1-3 Borgert Prod 5(a):15 Name of TIF Authority: Name of Municipality: 2009 ANNUAL DISCLOSURE STATEMENT Saint Joseph Saint Joseph The following information represents the annual disclosure of tax increment districts for the year ended December 31, 2009. St. Joseph Newsleader 711612010 (Name of the Newspaper) on (6;; of PubiicafiR twi ones wimin ine mole muse oe puoiisneo even it the amounts to be published are zero.) ' The fiscal disparities property tax law provides that the growth in commercial- industrial property tax values is shared throughout the area. In a tax increment financing district, this value sharing can either result in a tax increase for other properties in the municipality or result in a decrease in tax increment financing district revenue depending on how the tax increment financing district is established. Tax Increment Financing District TIF 1-3 Borged Prod (name) does not share its growth in commercial-industrial property tax values. This results in an increase in property taxes for other properties in this municipality. For taxes payable in 2009, this increase In taxes on other properties amounted to $ . (This paragraph needs to be published for each district for which it applies. Please attach additional pages, if needed.) Additional information regarding each district may be obtained from: (Required to be published) Judy Weyrens Name of TIF Representative PO Box 668, St Joseph, MN 56374 (320) 363 -7201 Address (Street. City. ZIP) ply Note to preparers Publishing the "line of the table and the two paragraphs following the table is necessary ordy if a TIF district in the munidpality is located in the fiscal disparities area and the municipality chose option A" under Minn. Stat. 469. 177, subd. 3(a), for the TIF distnot. 5(a):16 Name of TIF District TIF 1 -3 Borgert Prod Current net tax ca $ 0 Original net tax ca $ 0 Captured net tax ca $ 0 Principal and interest payments due in 2010 $ 0 Tax increment received in 2009 $ 0 Tax increment =nded in 2009 $ 0 Month and year of first tax increment receipt 7 / 2000 Date of required decertification 09/22/2009 Increased property tax imposed on other properties as a result of fiscal disparities conbibubon• $ 0 twi ones wimin ine mole muse oe puoiisneo even it the amounts to be published are zero.) ' The fiscal disparities property tax law provides that the growth in commercial- industrial property tax values is shared throughout the area. In a tax increment financing district, this value sharing can either result in a tax increase for other properties in the municipality or result in a decrease in tax increment financing district revenue depending on how the tax increment financing district is established. Tax Increment Financing District TIF 1-3 Borged Prod (name) does not share its growth in commercial-industrial property tax values. This results in an increase in property taxes for other properties in this municipality. For taxes payable in 2009, this increase In taxes on other properties amounted to $ . (This paragraph needs to be published for each district for which it applies. Please attach additional pages, if needed.) Additional information regarding each district may be obtained from: (Required to be published) Judy Weyrens Name of TIF Representative PO Box 668, St Joseph, MN 56374 (320) 363 -7201 Address (Street. City. ZIP) ply Note to preparers Publishing the "line of the table and the two paragraphs following the table is necessary ordy if a TIF district in the munidpality is located in the fiscal disparities area and the municipality chose option A" under Minn. Stat. 469. 177, subd. 3(a), for the TIF distnot. 5(a):16 f Excess Increment Calculation Report l For The Year Ended December 31, 2009 TIF 1 -3 Borgert Prod Formula 89 Tax Increment Financing District Name County Numbers) Saint Joseph Saint Joseph $ 0 TIF Authority Municipality That Approved TIF District $ 172,679 Steams Saint Joseph $ 349,671 County Where TIF District is Located City/Town Where TIF District Is Located Judy Weyrens Administrator (320) 363 -7201 TIF Authoritys Authorized Representative Title Phone Number City of St. Joseph = (320) 363-0342 Employer of Authorized Representative (If different from TIF authority) Fax Number PO Box 668 jweyrens @ciVoMjoseph.com _ Address E -mail Address + St Joseph MN 56374 1 city Zip Code Please note the excess increment statute was amended during the 2005 Legislative Session. There were three significant changes. - Nine -month time lim' . The Legislature introduced a nine -month time limit in which excess increment must be spent or returned to the county for redistribution. - Transfers for defici pooling. The Legislature included transfers made to eliminate deficits in other districts as part of the excess increment calculation. These transfers are authorized expenditures under the TIF Act and should be taken into account when calculating excess increment. - Excess increment applies Lo Pre -1979 TIF Districts. The Legislature established specific rules regarding pre -1979 TIF districts. The excess increment statute states that 'excess increments equal the amount of increments on hand on December 31, less the principal and interest obligations due on outstanding bonds or advances, qualifying under subdivision 1c, clauses (1), (2), and (5), after December 31 of the year and not prepaid under paragraph (c)." In other words, if no outstanding obligations exist as of December 31, any tax increment that remains is excess increment.' 5(a):27 Formula Value 1. Total tax increment received $ 172,679 2. Excess increments repaid in prior years - $ 0 3. Subtract line 2 from line 1 = $ 172,679 4. Total costs authorized to be paid with tax increment $ 349,671 5. Total authorized costs paid from other sources 6. Total non -TIF funds dedicated to pay authorized costs + 7. Total bond principal and interest outstanding + $ 0 8. Add lines 5 through 7 = $ 0 9. Amount from line 4 $ 349.671 10. Amount from line 8 _ $ 0 11. Total transfers of increment to reduce deficits made by 12/31!2009 + 12. Subtract line 10 from line 9 and add 11 (If negative number, show -0-) 1 $ 349,671 13. Amount from line 3 $ 172.679 14. Amount from line 12 - $ 349,671 15. Subtract line 14 from line 13 (if negative, show 0) Excess Tax Increment = $ 16. Amount of excess increment used to prepay outstanding bonds 17. Amount of excess increment paid into escrow dedicated to payment of outstanding bonds + 18. Amount of excess increment returned to the county + 19. Add lines 16 through 18 = $ 0 5(a):27 THIS PAGE INTENTIONALLY LEFT BLANK 5(a):18 I Tax increment Financing District Report For The Year Ended December 31, 2009 TIF 2 -1 Millstream Project 131 Tax Increment Financing District Name County Number(s) Saint Joseph Saint Joseph TIF Authority _ Municipality That Approved TIF District Stearns Saint Joseph County Where TIF District is Located Cityfrown Where TIF District Is Located Judy Weyrens Administrator (320) 363 -7201 TIF Authority's Authorized Representative Title Phone Number City of St. Joseph (320) 363 -0342 Employer of Authorized Representative (if different from TIF authority) Fax Number PO Box 668 jweyrens@cityofstjoseph.com Address E -mail Address St Joseph MN 56374 City State Zip Code 1. i it• uistrict type: O Pre-1979 Redevelopment O Housing O Economic Developmment O Uncod& -d law, (Spedfy) 2. Is this a "Qualified Housing District" as defined in MN Stat. 469.174, subd. 29(2003)? 3. TIF -plan approval date(s): A. Original ...................................................................... ............................... . B. Modification date(s): ........................................... 4. Certification request date(s): A. Original ....................................................................... ............................... B. Geographic enlargement date( s) :...................................... ............................... O Renewal and Renovation O Soils Condition C. Hazardous substance subdistrict date(s): ........................................................... 5. Certification date(s): A. Original ........................................................................ ............................... B. Geographic enlargement date(s): ..................................................................... C. Hazardous substance subdistrict date(s): ................................................. a. 08/14/2008 J ❑ NotAppltable -: a. a. 6. Month and year first tax increment payment received (actual or anticipated): 7 / 2009 A. If an election to delay the first receipt of tax increment has been made under�,'bleF. MN Statute 469.175 subd. 1(b) and is identified in the TIF Plan, please select the number of years to delay. Years:C� 7. Date of required decertification: ..................................................................................... 12/31/2034 7a. Duration of the district is based on: ................................................... Statutory Maximum Duration 8. Actual decertification date: ......................................................... 0 Not AppdmEle:; 5(a):19 Tax Capacity for Taxes Payable in 2009 ❑NotApp!2 e c-rtct is omRr Value 9. Current net tax capacity t $ 64,398 10. Original net tax capacity - $ 9,131 11. Captured net tax capacity = $ 55267 12. Fiscal disparity deduction, if applicable $ 0 13. Captured net tax capacity shared with other taxing jurisdictions $ 0 14. Captured net tax capacity retained by TIF authority = $ 55,267 15. Is this TIF district located in a fiscal disparities area and is it under option A? • 16. If yes, indicate the amount of total tax increase from the Commissioner of Revenue Fiscal Disparities Contribution Statement .... ............................... $ MXAWlmble 17. Has the municipality created a special taxing district for this TIF district? ............................... Tax Increment Expenditures Outside the TIF District 10 in 1 18. For activities and improvements outside TIF district I $ 01 $ 0 Authority: Saint Joseph District: TIF 2 -1 Millstream Project 5(a):20 OPERATING STATEMENT Revenues and Other Financing Sources (OFSs) Original TIF -Plan Budget Amount Cumulative Modified TIF -Plan Budget Accounted for in Prior Years 1 2009 Amount WARNING: The instructions 26. Tax increment revenue $ contain information 1,598,000 $ necessary 0 to complete $ this 0 $ page. 6,400 27. Market Value Homestead Credit $ 0 $ 0 28. Investment earnings $ 0 $ 0 $ 547 $ 135 29. Bond proceeds $ 0 $ 0 $ 0 30. Loan proceeds $ 0 $ 0 $ 0 31. Special assessments $ 0 $ 0 $ 0 32. Sales/lease proceeds $ 0 $ 0 $ 0 33. Loan/advance repayments $ 0 $ 0 $ 0 34. Grants $ 0 $ 0 $ 0 35. Other (describe) Eorin= rows abler moro InfertnNbn, po 1D Irl row and pros both GtA and u t A. Deposit to issue TIF $ 0 $ 0 $ 11,000 B. 36. Transfers in (from line 21) $ 0 $ 0 $ 0 $ 0 37. Total Revenues and OFSs Expenditures and Other Financing Uses OFUs 38. Land /building acquisition $ $ 1,598,000 467,000 $ $ 0 0 $ $ 11,547 0 $ $ 6,535 5,760 39. Site improvements/ preparation costs $ 0 $ 0 $ 0 40. Installation of public utilities $ 15,000 $ 0 $ 0 41. Parking facilities $ 0 $ 0 $ 0 42. Streets and sidewalks $ 0 $ 0 $ 0 43. Public park facilities $ 0 $ 0 $ 0 44. Social, recreation, or conference facilities $ 0 $ 0 $ 0 45. Interest reduction payments $ 0 $ 0 $ 0 46. Bond principal payments $ 0 $ 0 $ 0 47. Bond interest payments $ 0 $ 0 $ 0 48. Loan principal payments $ 0 $ 0 $ 0 49. Loan /note interest payments $ 845,000 $ 0 $ 0 50. Administrative expenses $ 160,000 $ 0 $ 5,786 $ 439 51. Other (describe) fornwrs rows moro A. Capitalized Interest $ 105,000 $ 0 $ 0 B. Office of the State Auditor $ 6,000 $ 0 $ 0 C. 52. Transfers out (from line 25) $ 0 $ 0 $ 0 $ 5,625 53 Total Expenditures and OFUs $ 1,598,0001 $ 0 $ 5,786 $ 11,824 54. Revenues and OFSs Over (Under) Expenditures and OFUs $ 0 $ 0 $ 5,761 $ (5,289) 55. Fund Balance - 12/31108 56. Fund Balance - 12/31/09 $ $ 5,761 472 Authority: Saint Joseph District: TIF 2 -1 Millstream Project 5(a):21 BALANCE SHEET On or Before 6/30197 ❑ NMA 67. Proceeds from sale or lease of property Assets On or After 7/2197 s of 12/31/08 $ 0 As of 12/31/09 57. Cash $ 5,747 $ 464 58. Due from other funds 0 $ 467,000 70. Principal paid in 2009 59. Other assets (specify) For more mm to enter mole k�fwwAftn, Do fo last raw and F _ : poses 0 $ 0 both CM and u loeys. A. Interest Receivable $ 14 $ 8 B. Tax Increment Receivable $ 467,000 $ 461,240 C. 0 $ 0 73. Outstanding 12/31109 60. Total Assets $ 472,761 $ 461,712 Liabilities 74. Principal due in 2010 $ 0 $ 0 $ 33,068 75. Interest due in 2010 61. Due to other funds 0 $ 0 $ 62. Other liabilities (specify) ? For hors rows b enter lnps kNcmfstlon. po b k�t.lowAft u A. Pay-as-you-go contract $ 467,000 $ 461,240 B. Accounts Payable $ 0 C. 63. Total Liabilities $ 467,000 $ 461,240 64. Fund Balance $ 5,761 $ 472 65. Total Liabilities and Fund Balance $ 472,761 $ 461,712 Investment Earnings On or Before 6/30197 ❑ NMA 67. Proceeds from sale or lease of property On or Before 711197 On or After 7/2197 66. Investment earnings $ 0 $ 682 Property Sales /Leases and Advance /Loan Repayments p Not /lpplkable , On or Before 6/30197 On or After 711197 67. Proceeds from sale or lease of property $ 0 $ 0 68. Repayment of advances and loans exclude interest $ 0 $ p Non - Pooled TIF Bonds and Other Financial Obligations NotAppi�e TIF Bonds Other Financial Obligations General Obligations Revenue 69. Issue amounts $ 0 $ 0 $ 467,000 70. Principal paid in 2009 $ 0 $ 0 $ 5,760 71. Principal issued in 2009 $ 0 $ 0 $ 0 72. Interest paid in 2009 $ 0 $ 0 $ 0 73. Outstanding 12/31109 $ 0 $ 0 $ 461,240 74. Principal due in 2010 $ 0 $ 0 $ 33,068 75. Interest due in 2010 $ 0 $ 0 $ 0 5(a):22 76. Amount of tax increment held dedicated to the payment of non - pooled TIF bonds. $ D N/A 77. Is amount on line 76 held in an escrow account? ................................... ............................... 0 No • NA 78. If refunding bonds have been issued, indicate the year(s) and amount(s) of the refunding issue(s): H/A Farm= ma b enter more Monndon; Nob last "row anti pees both CM and a h"L Year Amount 79. If pay -as- you-go financing is being used, report the amount of documented developer costs incurred through December 31, 2009. 80. If property owners have received reimbursement of special assessments, report the amount reimbursed through December 31, 2009. $ 476,000 ❑NIA CI wA 81. Please list the estimate, if any, contained in the TIF plan of the amount of the cost of the project, including administrative expenses, that will be paid or financed with tax increment. Any TIF plan or amendment approved after $ 1,598,000 ❑'WA June 30, 2003 must contain this estimate. 82. If the TIF district has special legislation, specify the year, chapter, article, and section of the law. W4:. f-or nloie WM' 40 anler mpe Har ai%on �o bif tl r ws t Year Chapter Article Section 83. Indicate whether the authority has worked with the county auditor to correct an error qualifying under Minn. Stat. § 469.177, subd. 13 for this district. This includes errors in the certification or decertification of TIF districts, as well as other errors related to the computation of increment. 1idL =1 -bYa would like to Line 5: The first increment was not received until 07/10 due to the construction Lofts. Please change the first increment received date to 07/10. Q Yae t;•� No Millstream Shops & Line 23.A. The transfer out from the TIF fund was reimbursing the EDA and the City General fund for expenditures incurred on behalf of TIF 2 -1 for the Millstream Shops and Lofts. The expenditures are valid expenditures for the TIF district. Authority: Saint Joseph District: TIF 2 -1 Millstream Project 5(a):23 2009 ANNUAL DISCLOSURE STATEMENT Name of TIF Authority: Saint Joseph Name of Municipality: Saint Joseph The following information represents the annual disclosure of tax increment districts for the year ended December 31, 2009. St. Joseph Newsleader 7/16/2010 (Name of the Newspaper) on (Date of Publication) (/NI lines within me table must be pualsnea even if the amounts to be published are zero.) ' The fiscal disparities property tax law provides that the growth in commercial - industrial property tax values is shared throughout the area. In a tax increment financing district, this value sharing can either result in a tax increase for other properties in the municipality or result in a decrease in tax increment financing district revenue depending on how the tax increment financing district is established. Tax Increment Financing District TIF 2 -1 Millstream Project (name) does not share its growth in commerciaWndustrial property tax values. This results in an increase in property taxes for other properties in this municipality. For taxes payable in 2009, this increase in taxes on other properties amounted to $ . (This paragraph needs to be published for each district for which it applies. Please attach additional pages, if needed.) Additional information regarding each district may be obtained from: (Required to be published) Judy Weyrens Name of TIF Representative PO Box 668, St Joseph, MN 56374 (320) 363 -7201 Address (Street, City. Zip) Phone Note to prepares Publishing the last line of the table and the two paragraphs following the table is necessary only If a TIF district in the municipality is located in the fiscal disparities area and the municipality chose option A" under Minn. Slat. 469.177, subd. 3(a), for the TIF district. 5(a):24 Name of TIF DlsMct TIF 2 -1 Millstream Project Current net tax capacity $ 64,398 Original net tax capacity $ 9,131 Captured net tax capacity $ 55,267 Principal and Interest payments due in 2010 $ 33,068 Tax increment received in 2009 $ 6,535 Tax increment expended in 2009 $ 11,824 Month and year of first tax increment receipt 7/2009 Date of required decertification 12/31/2034 Increased property tax imposed on other properties as a result of fiscal disparities contribution' 1 $ 0 (/NI lines within me table must be pualsnea even if the amounts to be published are zero.) ' The fiscal disparities property tax law provides that the growth in commercial - industrial property tax values is shared throughout the area. In a tax increment financing district, this value sharing can either result in a tax increase for other properties in the municipality or result in a decrease in tax increment financing district revenue depending on how the tax increment financing district is established. Tax Increment Financing District TIF 2 -1 Millstream Project (name) does not share its growth in commerciaWndustrial property tax values. This results in an increase in property taxes for other properties in this municipality. For taxes payable in 2009, this increase in taxes on other properties amounted to $ . (This paragraph needs to be published for each district for which it applies. Please attach additional pages, if needed.) Additional information regarding each district may be obtained from: (Required to be published) Judy Weyrens Name of TIF Representative PO Box 668, St Joseph, MN 56374 (320) 363 -7201 Address (Street, City. Zip) Phone Note to prepares Publishing the last line of the table and the two paragraphs following the table is necessary only If a TIF district in the municipality is located in the fiscal disparities area and the municipality chose option A" under Minn. Slat. 469.177, subd. 3(a), for the TIF district. 5(a):24 Excess Increment Calculation Report For The Year Ended December 31. 2009 TIF 2 -1 Millstream Project Formula 131 Tax Increment Financing District Name County Number(s) Saint Joseph Saint Joseph $ 0 TIF Authority Municipality That Approved TIF District $ 7,082 Steams Saint Joseph $ 1,598,000 County Where TIF District is Located City/Town Where TIF District Is Located Judy Weyrens Administrator (320) 363 -7201 TIF Authority's Authorized Representative Title Phone Number City of St. Joseph = (320) 363-0342 Employer of Authorized Representative (if different from TIF authority) Fax Number PO Box 668 jweyrens@cityofstjoseph.com - Address E -mail Address + St Joseph MN 56374 _ city Zip Code Please note the excess increment statute was amended during the 2005 Legislative Session. There were three significant changes. - Nine -month time limit. The Legislature introduced a nine -month time limit in which excess increment must be spent or returned to the county for redistribution. - Transfers for deficit pooling. The Legislature included transfers made to eliminate deficits in other districts as part of the excess increment calculation. These transfers are authorized expenditures under the TIF Act and should be taken into account when calculating excess increment. - Excess increment anolies 4 Pre -1979 TIF Districts. The Legislature established speck rules regarding pre -1979 TIF districts. The excess increment statute states that "excess increments equal the amount of increments on hand on December 31, less the principal and interest obligations due on outstanding bonds or advances, qualifying under subdivision 1c, clauses (1), (2), and (5), after December 31 of the year and not prepaid under paragraph (c).° In other words, if no outstanding obligations exist as of December 31, any tax increment that remains is excess increment. 5(a):25 Formula Value 1. Total tax increment received $ 7,082 2. Excess increments repaid in prior years - $ 0 3. Subtract line 2 from line 1 = $ 7,082 4. Total costs authorized to be paid with tax increment $ 1,598,000 5. Total authorized costs paid from other sources 6. Total non -TIF funds dedicated to pay authorized costs + 7. Total bond principal and interest outstanding + $ 467,000 8. Add lines 5 through 7 = $ 467,000 9. Amount from line 4 $ 1,598,000 10. Amount from line 8 - $ 467,000 11. Total transfers of increment to reduce deficits made by 12/3112009 + 12. Subtract line 10 from line 9 and add 11 (If negative number, show -0-) _ $ 1,131,000 13. Amount from line 3 $ 7,082 14. Amount from line 12 - $ 1,131,000 15. Subtract line 14 from line 13 (if negative, show 0) Excess Tax Increment = $ 0 16. Amount of excess increment used to prepay outstanding bonds 17. Amount of excess increment paid into escrow dedicated to payment of outstanding bonds + 18. Amount of excess increment returned to the county + 19. Add lines 16 th h 18 1 $ 0 5(a):25 THIS PAGE INTENTIONALLY LEFT BLANK 5(a):26