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Home My WebLink About[04g] 2013 TIF ReportsMEETING DATE: June 5, 2014 AGENDA ITEM: 2013 TIF Reports SUBMITTED BY: Finance Council Agenda Item 4(g) PREVIOUS COUNCIL /BOARD ACTION: Council approved the creation of the TIF Districts below. The EDA recommended acceptance on May 28th for submittal to the State Auditor. 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 1St of each year. For 2013 there are two certified districts — Millstream Shops & Lofts (TIF 2 -1) and St. Joseph Meat Market (TIF 2 -2). The 2013 TIF reports provide information as to the type of TIF district and duration of the district, amount of captured increment, and expenditures against the increments. The reports included are an Economic District with a duration of 9 years (St. Joseph Meat Market) and a Redevelopment District with a duration of 26 years (Millstream Shops and Lofts). All Districts were set up on a Pay -As- You -Go financing plan, meaning the developers accept the risk of the actual amount of increments received to pay down the debt. The spending plans of the Districts, along with their actual costs, are presented in the reports. The increments received are within the range of what was expected to be received. The 10% (Millstream Shops and Lofts) and 5% (St. Joseph Meat Market) administrative fee withheld from the increment is covering the admin costs of the Districts. Upon approval by the Council, a summary disclosure of the 2013 reports for 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 TIF District 2 -1 (Millstream Shops and Lofts) TIF District 2 -2 (Meat Market) REQUESTED COUNCIL ACTION: Accept the 2013 TIF reports as presented. THIS PAGE INTENTIONALLY LEFT BLANK Saint Joseph - TIF 2-1 Millstream Project - 2013 Annual Reporting Form FHome 3vdrvlevv FEstrict Info JF7Debt lnterfund Loans ct costs Transfers Rev x Balance SheetL Tax Increment Financing Annual Reporting Form for the Year Ended December 31, 2013 1 TIF District Name: TIF 2-1 Millstream b ev lo ment ut A hi port y: 08/16/2007 Saint Joseph 3 District Type: Land/building acquisition Re�elo ni��rjt_ . ..yearns County Where TIF District is Located: Month and year of first receipt of tax increment (actual or anticipated): S 5 County Identification Number, if any: 12/3-11/2934- 1... 31 6 Is th e small city exception being used? $ Not Applicable 7 Is this TIF district in a fiscal disparities area? ESTIMATED TAX INCREMENT REVENUES (from tax increment generated by the district) No L 8 If yes, under what option? Construction of affordable housing Not Applicable Oriainal TIF Plan Information 05/03/2007 ESTIMATED FINANCING Total amount of bonds, to-bellisslue,d "46T,060 Overview Page 1 of 18 TIF Plan Approval Date: 05/03/2007 Certification Request Date: 08/16/2007 Certification Date: 08/14/2008 Land/building acquisition District Duration 467,000 Month and year of first receipt of tax increment (actual or anticipated): Site improvements/preparation costs Required Decertification -Date :., 12/3-11/2934- 211 TIF Plan Estimates Original Plan 05/03/2007 $ 15,000 0510312007 Other quail #y i nq improvements _ ESTIMATED TAX INCREMENT REVENUES (from tax increment generated by the district) 14 Tax increment revenues distributed from the county Construction of affordable housing $ Interest and i rive s t m ent earnings 24 Small city authorized co.s,ts..if-n.ot already included above Sales/lease proceeds 6. 2 T7 Mar' ket value homestead credit . $ 166,000 t, ot a I E sti m ated Tax x I n c re rn a n t Rev enues $ 08,0 � Im 05/03/2007 ESTIMATED FINANCING Total amount of bonds, to-bellisslue,d "46T,060 Overview Page 1 of 18 ESTIMATED PROJECT /FINANCING COSTS (to be paid or financed with tax increment) Project costs 119 Land/building acquisition 467,000 20 Site improvements/preparation costs $ 0 211 Utilities $ 15,000 Other quail #y i nq improvements _ ,23 Construction of affordable housing $ 0 24 Small city authorized co.s,ts..if-n.ot already included above A 6. 2 Administrative costs . $ 166,000 Estimated, Tax, Increme.n.t, Project Costs $ "81000 Estimated financing costs Interest expense 950,0600 , Total Estimated Project/Financing 'Costs to be Paid From Tax increment 05/03/2007 ESTIMATED FINANCING Total amount of bonds, to-bellisslue,d "46T,060 Overview Page 1 of 18 167112013Dist (1) TIF 2-1 Millstream Shops and Lofts Saint Joseph - TIF 2-1 Millstream Pro *ect - 2013 Annual Reporting Form Balance ---1 Home 11 verview 11 District Info 11 Debt if Interfund Loans if PAYG Costs 11 Transfers 11 Rev & Exp District Information Special Legislation I Was any special legislation enacted for this district? No 2 A B C D Year Chapter' Asticle Section 11 Did one or more of the following actions occur before --8(1412018 ? No 2 —3 12 Revenues ppidtq'a No 4 --- -------- third Bonds were lastfed and'sold to a - -- ------ --------- 5 Bindi 16711_2013_Dist (1) TIF 2 -1 Millstream Shops and Lofts Saint Joseph - TIF 2 -1 Millstream Project - 2013 Annual Reporting Form Home Overview District Info Debt Interfund Loans I PAYG 11 Pro' t Costs 11 Transfers 11 R7,j& EExp Balance Sheet EIC ADS Financing & Debt _ Does this district have general obligation bonds, revenue bonds, or other debt outstanding after 2009? 1 (Do not consider Pay -As- You -Go (PAYG) or tnterfund loans.) No Did this district have general obligation bonds, revenue bonds, or other debt that was retired before 2010? 2 (Do not consider Pay -As- You -Go (PAYG) or interfund loans.) _ _4 and Interest 3 Bonds issued (other than refurrctlrtg bonds} 4 Refurxfiru# borxas Issued - Pfinc-i p yments 6, Interest payments from tax increment Printed 516!2014 Debt Page 3 of 18 16711_2013_Dist (1) TIF 2 -1 Millstream Shops and E_otis Saint Joseph - TIF 2 -1 Millstream Project - 2013 Annual Reporting Form Printed 5!6!2014 Debt Page 4 of 18 Key To Drop -Down Menu for "Type" A - General Obligation Bonds B - Revenue Bonds C - Other Debt 7 A B 767 D E F G H I J -U c Amount final Issue Refunded (if Name � issue Date < Matey mete Interest Bate Range Amount refunded) 2 °l y EI 5 ---- _ W [ r 7a 9 iQ— 12 _ 13' - % - 14 16 %I 17 - [ aW a= z x 20 x _ i a Do not consider PAYG and interfund loans. If you need to report additional bonds, please contact the OSA. Printed 5!6!2014 Debt Page 4 of 18 167112013Dist (1) TIF 2-1 Millstream Shops and Lofts Saint Joseph - TIF 2-1 Millstream Project - 2013 Annual Reporting Form Printed 51612014 K L M N 0 1 P Q -: R S T �� U V w Prinrin ► interest Paid in Prior Paid in Prior Paid in Prior Paid in Prior Years From Years From Paid In 2013 Paid in 2013 Due in 2014 Years From Years Frorn Paid in 2013 Paid in 2413 Due In 2014 Tax Other From Tax From Other Additions in Additions in From Tax Tax Other From Tax From Other From Tax Increment Sources Increment Sources Prior Years 2013 _2gqqAdl0lL_ ncrement Increment Sources Increment Sources Increment Debt Page 5 of 18 167112013Dist (1) TIF 2-1 Millstream Shops and Lofts Saint Joseph - TIF 2-1 Millstream Project - 2013 Annual Reporting Form Home Civerview District Info Debt lnterfund Loans PAYG Pro'ect Costs Transfers Rev zi< Exp Balance Interfund Loans 1 i Does/Did this district have interfund loans outstanding after 2009? 2 Did this district pay interest on interfund loans that were retired before 2010? No VIVMW MIT. =. A B 3 Due to other TIF districts $ 0 $ 0 4 ... .... Due to non-tax increment accounts ... . .... . . ...... . .. . ... .. $ $ 0 5 Due from other TIF districts $ 0 $ 0 6 Due from non-tax increment accounts $ 0 $ 0 i Principal and Interest A B C Interfund Loans Retired Before 2010 Prior Years 2013 Amount 7 Principal payments paid from this district $ 01 $ 01 8 Interest payments paid from t I his district I t 577 5 is 01 $ 0 i Printed 51612014 Interfund Loans Page 6 of 18 167112013 Dist (1) TIF 2-1 Millstream Shops and Lofts Saint Joseph - TIF 2-1 Millstream Project - 2013 Annual Reporting Form Key To Drop-Down Menu for "Type" A - Receivable: Interfund Loan to Other District B - Receivable: Interfund Loan to Non-Tax Increment Account C - Payable: Interfund Loan from Other District D - Payable: Interfund Loan from Non-Tax Increment Account -A B C D E i F i G R- Name of Second Party (District or Non-Tax Increment ARSSunt). Resolution Final Authorized District Non-Tax Increment Account Date Maturity Date Interest Rate Range Amount if you need to report additional interfund loans, please contact the OSA. uornmenis kouv tnaraciei a Interfund Loans Printed 51612014 Page 7 of 18 16711_2013_ Dist (1) TIF 2 -1 Millstream Shops and Lofts Saint Joseph - TIF 2 -1 Millstream Project - 2013 Annual Reporting Form N l K L N N Principal Prior Years 2013 Additions/ Additions/ Draw Draw Paid/Rec'd in Paid /Rec'd in Reductions Reductions Amount Amount Prier Years 2013 Prior Years in 2013 Outstanding Due in 2014 Printed 516!2014 P Q R Interest Paid/ Paid/ Recd in Recd in Prior Years 2013 Due in 2014 interrund Loans Page 8 of 18 167112013_Dist (1) TIF 2-1 Millstream Shops and Lofts Saint Joseph - TIF 2-1 Millstream Pro'ect - 2013 Annual Reporting Form Home Overview 11 District Info �=aYGir Project cost. Transfers Rev t£ Exp &glance Sheet ElC ADS Comments Pay-As-You-Go (PAYG) Financing 1 Are there any PAYG obligations for this district? Yes For the section below, report only the documented PAYG costs to be repaid with tax increment. Printed 5/612014 11 Principal payments 122 Interest payments Prior Years 2013 Amount $ 31,420 $�o $ 01 PAYG Page 9 of 18 _A, 1' B C i F PAYG I PAYG 2 PAYG 3 PAYG 4 PAYG 5 Through PAYG 6 Total Through Throush 2013 Through 2013 Through 2013 Through 2013 2013 Through 2013 2013 DOCUMENTED PAYG COSTS 2j Land/building acquisition 0 $ 467,000 3 Site improvementsipreparation costs i $ 0 0- 4 Utilities $ 0 0 5 . .. ... . .... Other public improvements $ 0 i$ 01 61 Construction of affordable housing $ 0 $ 0 Small city authorized costs, if not already included above $ 0 $ 0 Temporary economic development {jobs} [Minn. Stat § 469.176, subd. 4c (d)] $ 0 $ 0 Total documented PAYG costs to be paid with tax 9 increment Is —0 $ 01 $ 2j i $ 467,000 Principal and Interest 1213112012 1213112013 5-0i Outstanding obligation contingent upon available tax increment $ 363,605 $ 332,185 1 11 Principal payments 122 Interest payments Prior Years 2013 Amount $ 31,420 $�o $ 01 PAYG Page 9 of 18 167112013Dist (1) TIF 2-1 Millstream Shops and Lofts Saint Joseph - TIF 2-1 Millstream Project - 2013 Annual Reporting Form 2 3 4 5 6 14 A B —::: �C F D -- -- - Final Contract! Documented Name on Development Agreement Issue Date Maturity Date Interest Rate Range Note Amount Amount Collegeville Development Group LLC 07/2012007 02/0112035 8.250 8150 W $ 467,000 is 467,000 % $ 01 %: $ 0 $ 0 0 $ 01 t-ornmems Printed 51612014 PAYG Page 10 of 18 16711_2013_Dist (1) TIF 2 -1 Millstream Shops and Lofts PAYG Page 11 of 18 Saint Joseph - TIF 2 -1 Millstream Project - 2013 Annual Reporting Form G H I J K L M N 0 Principal Interest Additions/ Additions/ Paid in Prior Reductions Reductions Paid in Prior Years Paid in 2013 Prior Years in 2013 Outstanding Due in 2014 Years Paid in 2013 Due in 2014 1 $ 103,395: $ 31,420 $ 0 $ 0 ; $ 332,185. $ 49,252 $ 0 $ 0 1 $ 0 2 $ 0 3 r $ 0 4 $ 0 5 $ 0 6 J__0 , PAYG Page 11 of 18 Home 11 Overview 11 District Info Debt Interfund Loans PAYG Project Costs 11 Transfers 11 Rev & Ex p 11 Balance Sheet 11 EIC 11 ADS Project Costs Total Through Prior Years 2013 Amount 2013_ PROJECT COSTS (OTHER THAN PAYG) 1 Land /building acquisition Site improvements /preparation costs 3 Utilities _A_ Other public improvements 5 Construction of affordable housing I Small city authorized costs, if not already included above Temporary economic development 'Jobs, 7_1 'fMinn,§tat,§4§9,176,s,ubd,4c(o)I Authority administrative costs County administrative costs s 6 12 Land/building, acquisition .46-7,600- 14 $ 0 $ 0 $ 0 Other public improvements $ 0 16 Construction of affordable h 0 Small city authorized costs,, if not already included above $ 0 $ 0 $ .. ........... 0 Total Documented Project Costs (PAYG) to be Paid with Tax 0'' "s -0 ....... $ 0 $ � 22 0 .1;t730 —0, " 1 0, 110,11 Subtract prior years' costs paid with public funds other than tax increment Total Project Costs (Other than PAYG) Paid or Financed with Tax [111 Increment and/or TIF Bond Proceeds I$ 22 220 1 J$ 12,9591 TOTAL PROJECT COSTS PAID OR TO BE PAID WITH TAX INCREMENT AND/OR, TIF BOND PROCEEDS $ 47%959 Amount of any payments included above for activities and improvements located outside the TIF district and paid for or financed with tax increment 21 including administrative costs ! $ 0 $ 0 '] Project Costs Page 12 of 18 PROJECT COSTS (PAYG) 12 Land/building, acquisition .46-7,600- 14 Site improvements /preparation costs Utilities $ 0 Other public improvements $ 0 16 Construction of affordable h $ 0 Small city authorized costs,, if not already included above Temporary economic development (Jobs) (Minn. Stat. § 469.176, subd. 4c (d) Ilk (?o 10)) L -0- Total Documented Project Costs (PAYG) to be Paid with Tax C 19 Increment__ TOTAL PROJECT COSTS PAID OR TO BE PAID WITH TAX INCREMENT AND/OR, TIF BOND PROCEEDS $ 47%959 Amount of any payments included above for activities and improvements located outside the TIF district and paid for or financed with tax increment 21 including administrative costs ! $ 0 $ 0 '] Project Costs Page 12 of 18 Saint Jose h - TIF 2-1 Millstream Pr 'ect - 2013 Annual Reporting Form .9 1 1 • R- I =11=1 • 22111 in a E?_0 a L-4� a Transfers Are there any transfers of tax increment to or from the TIF district? No Transfers Page 13 of 18 Saint Joseph - TIF 2-1 Millstream Prolect - 2013 Annual Reoortina Form I Home 11 Overview 11 District Info 11 Debt 11 Interfund Loans 11 PAYG 11 Project Costs 11 Transfers 11 Rev & Exp 1[Balance Sheet 11 PIG 11 A[ Revenues, Expenditures, and Changes in Tax Increment Balance Total Through Prior Years 2013 Amount 2013 REVENUES Tax increment revenues distributed from the county I $ _.14827 _2, Interest' and investment e $ 1,666 $ 4 $ 1,'670 Market value homestead credit $ 952 l $ 952 L'o" a n dv'a'nce repayments' $ —0-- 0 $ ._.0 L' e 'a se.prqqqeds $ 0 $ 0 $ 0 . ......... 6 Repayments .,o,r, return ..o,f" tax .increment ,.per agreements I $ 11,000 $ 0, $ 11,000 Total Revenues 1$ 126,979 EXPENDITURES i_ ) "- 111111 . Tt other t h an P A YG $ E'�6 s (u d to the county $ 0 $ A$ g Tax increment returned .. .11--- Bond Payments Principal Payments for, PAYG, note or contract 11 P t �yTenslo,n.a.Illot,h.elr,b.onld,s.I 11 Interest Interest on PAYG Interest on all other bonds Interest on interfund loans Total Expend I t u re s Revenues over (under) expenditures w 26 Net change in tax increment balances 16,846] $ 3 '�Z�l Tax Increment balance (Pegi,9099 91/10,11/201,131) $ 10,345 [28] Tax Increment balance (ending 12/31/2013) $ 14,120 Rev & Exp Page 14 of 18 OTHER SOURCES AND USES 17 Transfers in 7 -4 Transfers ' ' out $ 0 $ 0 19 Bonds issued n - bonds I .. . ..... .. . .. , (other than refunding $ 0 -- ---- - $ 0 20 Refunding _mdinq b9njs issued $ 0 $ 0 21 Bonds refunded $ 0 $ 0 Bond discount .. ...... ......... 0 $ $ 0 _2 2 premium Bond" $ 0 $ 0 2 Sales of property $ 0 $ 0 2 Total Other Sources and Uses $ 0 0 w 26 Net change in tax increment balances 16,846] $ 3 '�Z�l Tax Increment balance (Pegi,9099 91/10,11/201,131) $ 10,345 [28] Tax Increment balance (ending 12/31/2013) $ 14,120 Rev & Exp Page 14 of 18 Balance Sheet ect - 2013 Annual Reporting Form 12/31/2012 12/31/2013 LIABILITIES 411 0 Due to other TIF districts 0 Due to non to increment account.s. $ '2 AccountSPaya!?!e1111 0 $ 0 3" De'fe'rre'd'revenue $ 111___""_ 0 $ — 0 .......... . .. 14] Total Liabilities 0 TAX INCREMENT BALANCE Total Tax increment Balance Total Liabilities and Tax Increment Balance Balance Sheet Page 15 of 18 Saint Joseph - TIF 2-1 Millstream Project - 2013 Annual Reporting Form Home overview FDistrict Info 1 F Debt 11 interfund Loans -IF-PA—Y-G-lFpr—oiect Costs ITransfers IF-R—ev--&—E-xP--]FBalance She, Excess Increment Calculation Excess increment calculation report required? If the total costs authorized by the TIF plan to be paid or financed with tax increment from the district exceed the total tax increment collected from the district by 20 percent, the excess increment calculation is not required to be reported. 0 Jim P I M. �W�NVWWIN 1 11 EIC Page 16 of 18 F� L�— Name cJ�Wuni�pa|Ky: Saint Joseph The following information represents the annual uimcm m tax increment msmutsm the year ended December n1 2013 t. Joseph Newsleader (Name of the Newspaper) (Date ofPublication) TlF2-1 Millstream Project ° The fiscal disparities property tax law provides that the growth in commercial-industrial property tax values is shared throughout the area. |na tax increment financing district, this value sharing can either result ina tax increase for other properheeinihemunidpm|ih/orneou|tinodeonaaaeintaxincnmmantfinmnoinA6istdd revenue depending on how the tax increment financing district is established. Tax Increment Financing District T|F2-1 Millstream Project does not share its growth in commercial- industrial propertyhaxwa|ues. This results inan increase in property taxes for other prmportieointhie municipality. For taxes payable in 2013, this increase in taxes on other properties amounted to $0.00. Additional information regarding this district may be obtained from: ADS Page 17 of 18 1, 11111im RE 1 '11 '!IjjI;'E 1011j"IrTI i^ OT-IMIMIU."T 11 im TIF was refinanced by owner from Sentry Bank to MinnWest Bank in the summer 2013. Also, owner has marl Millstream Shops and Lofts (including TIF) for sale. The City is unaware of a sale as of the date of this report. Comments Page 18 of 18 Saint Joseph - TIF 2-2 St. Joseph Meat Market - 2013 Annual Reporting Form F-Home --IFo-v-erv-ie--w-lFDistrict info 11 Debt 11 Interfund Loans 11 PAYG FP-roiect Costs 11 Transfers IF-Rev -&--Exp-11 Balance SheetIF 1 TIF District Name: 2 Development Authority: 3 District Type: 4 County Where TIF District is Located: 5 County Identification Number, if any: 6 Is the small city exception being used? Is this TIF district in a fiscal disparities area? L a If yes, under what option? Z1j7WCT-T3:QoM1$1Z =-ii g7T&J&,J4" TIF 2-2 St. Joseph Meat Market • TIF Plan Estimates - Original Plan 04/21/2011 Original TIF Plan Information 04/21/2011 TIF Plan Approval Date: 04/21/2011 Certification Request Date: 04/21/2011 Tax increment revenues distributed from the county Certification Date: 03/27/20 1 2 85,894 District Duration Interest and investment earnings Month and year of first receipt of tax increment (actual or anticipated): 07/2613 3' Required Decertification Date: 12/31/2021 TIF Plan Estimates - Original Plan 04/21/2011 ESTIMATED FINANCING 29� Total amount of bonds to be issued nA1'J4 MM 4 1-00"600 Overview Page 1 of 18 ESTIMATED PROJECT/FINANCING COSTS (to be paid or financed with tax increment) 04/21/2011 ESTIMATED TAX INCREMENT REVENUES (from tax increment generated by the district) 14 Tax increment revenues distributed from the county 85,894 15 Interest and investment earnings $ 695 116 Sales/lease proceeds $ 0 17 Market value homestead credit $ 0 23, Total E s' t i m a, te, d Tax, Increment , , i R" e, ve, n u e s $ 86,589 ESTIMATED FINANCING 29� Total amount of bonds to be issued nA1'J4 MM 4 1-00"600 Overview Page 1 of 18 ESTIMATED PROJECT/FINANCING COSTS (to be paid or financed with tax increment) Project costs 19' Land/building acquisition 0 Site improvements /preparation costs $ 50,000 Utilities $ 0 Other qualif yi n g improvements $ 1'1.,000...' 23, Construction of affordable housing $ 0 '�2�F4 Small cit author'iz I e I d I costs, I I I if - not I already I I included I ab I ove y $ 0' 25 261 Administrative costs, Estimated Tax $ 8,566' Increment Project Costs 69,589 Estimated financing costs Interest expense 0 6 0, Total Estimated Project/Financing Costs to be Paid From Tax Increment 86,669 ESTIMATED FINANCING 29� Total amount of bonds to be issued nA1'J4 MM 4 1-00"600 Overview Page 1 of 18 18049 2013 Dist TIF 2-2 St, Joe Meat Market Saint Joseph - TIF 2-2 St. Joseph Meat Market 2013 Annual Reporting Form Home 11 Overview 11 District info 11 Debt 11 Interfund Loans PAYG 11 Project Costs 11 Transfers 11 Rev & Ex p 11 Balance Shea 2 2 A] 4 5 6 7: District Information No 73 Captured Tax Capacity (Only select 'Not Applicable" if Decertified or Entirely Tax Exempt) Applicable 4 Current net tax capacity $ 10,826 _5� Original net tax capacity $ 7626 6 Captured net tax capacity (if negative, show SO) 7 Fiscal disparity deduction, if applicable (Option 8) ti Captured net tax rapacity shared with other taxing jurisdictions 9 Captured net tax capacity retained for tax Increment financing (If negative, show $O) $ Fiscal Disparities EoW the amount of total increased property taxes to be paid from outsift the TIF district from One 33 ofthe Department ofReverxWs fiscal disparity option A calculation form. Five-Year Rule if Did one or more of the following actions occur before 3F27/2017 ? No If yes, select 'Yee at the appropriate actions: 12 Revenues were pa ti tq_�kthil4patly .. ..... ... ------ 713 1" were issued and sold to a hid party, r No .. t...... ... -------- - L_J 14, tin Act" and revenues am r ExperWitures were made for housing or public in Statutory County Correction of Error(s) Has the authority resolved with the county auditor any error qualifying under Minn. Stat. § 469.177, subd. 13, duri..ng the year ended December 31, 2013? (if no error occurred, select "No'.) .............. ........................................... .............. .3? -- --- ............... No Has this district been decertified? No '19, Actual Deceffiftation Date Printed 516/2014 District Info Page 2 of 18 18049 2013 Dist TIF 2 -2 St, Joe Meat Market Saint Joseph - TIF 2 -2 St. Joseph Meat Market - 2013 Annual Reporting Form Home Overview District Info Debt interiund Loans PAYG 11 Proj ect Costs 11 Transfers 11 Rev & Exp 1Balance Sheet FEz7j ADS Financing & Debt Does this district have general obligation bonds, revenue bonds, or other debt outstanding after 2009? 1 (Do not consider Pay -As- You -Go (PAYG) or interfund loans.) No Did this district have general obligation bonds, revenue bonds, or other debt that was retired before 2010? 2 ` (Do not consider Pay -Rs- You -Go (PAYG) or interfund loans.) No 3 4 Principal and Interest i_paYr�s fi�ttt iax i � interest payments from tax increment Printed 51612014 Debt Page 3 of 18 18049 2013 Dist TIF 2 -2 St. Joe Meat Market Saint Joseph - TIF 2-2 St. Joseph [Neat Market - 2013 Annual Reporting Form Do not consider PAYG and interiund loans. If you need to report additional bonds, please contact the 4SA. 3$I Printed 51612014 Debt Page 4 of 18 18049 2013 Dist TIF 2 -2 St. Joe Meat Market Saint Joseph - TIF 2 -2 St. Joseph Meat Market - 2013 Annual Reporting Form K L M N 0 P Q R I t Principal Paid In Prior Paid In Prior Years From Paid in 2013 Paid In 2013 Years From Years From Paid in 2013 Paid In 2013 Due In 2014 Tau Other From Tax From Other Additions in Additions in From Tax Increment Sources Increment Sources Prior Years 2013 Outstanding Increment Printed 5t 612014 T U V w I t Paid in Pty Years From Paid in 2013 Paid In 2013 Due in 2014 Other From Tax From Other From Tax Sources Increment Sources Increment Debt Page 5 of 18 18049 2013 Dist TIF 2-2 St. Joe Meat Market Saint Joseph - TIF 2-2 St. Joseph Meat Market - 2013 Annual Reporting Form I Home 11 Overview 11 District Info 11 Debt 11 Interfund Loans 11 PAYG 11 Project Costs 11 Transfers 11 Rev & Exp 11 Balance Interfund Loans I ' Does/Did this district have interfund loans outstanding after 2009? r— Yes Did this district pay interest on interfund loans that were retired before 2010? No Interfund Loans A B 1213112012 1213112013 3 = Due to other TIF districts 0 = F $ L Due to non-tax increment accounts $ 500 $ 500 5 Due from other TIF districts $ 0 1 $ 0 6 Due from non-tax increment accounts 0 0 Principal and Interest A B C Interfund Loans Retired Before 2010 Prior Years 20113 Amount 7 Principal payments paid from this district is 0 1 $ 0 Interest payments paid from this district E$T_ 0 Is Printed 5/612014 Interfund Loans Page 6 of 18 18049 2013 Dist TIF 2-2 St. Joe Meat Market Key To Drop-Down Menu for "Type" A - Receivable: Interfund Loan to Other District B - Receivable: Interfund Loan to Non-Tax Increment Account C - Payable: Interfund Loan from Other District D - Payable: Interfund Loan from Non-Tax Increment Account 9 B C D E F G Interfund Loans Page 7 of 18 18049 2013 Dist TIF 2-2 St. Joe Meat Market Saint Joseph - TIF 2-2 St. Joseph Meat Market - 2013 Annual Reporting Form Printed 5/612014 Interfund Loans Page 8 of 18 i K L M N 0 P Q R Principal Interest Prior Years 2013 Additions/ Additions/ Paid/ Paid/ Draw Draw Paid/Rec'd in Paid/Recd in Reductions Reductions Rec'd in Rec'd in Amount Amount Prior Years 2013 Prior Years in 2013 Outstanding Due in 2014 Prior Years 2013 Due in 2014 $ 5-00 ' —$0 —$--0--� 15$:�O 11—$-----0 - — — ------------------ i $ 500 1-$ --0 j-0 L—$—O r$ O $ 0 $ 0 — --------------- - $ 0 Ls—�, $ 01 $ 0 i $ Lo $ 0 $ 0 0 L$E�O $ 0 0 $ Interfund Loans Page 8 of 18 18049 2013 Dist TIF 2-2 St. Joe Meat Market Saint Joseph - TIF 2-2 St. Joseph Meat Market - 2013 Annual Reporting Form Loans PAYG - Pro e£t Casts Transfers 11 Rev & Ex-FT"Eiiiance Sheet ElC ADS Comments Pay-As-You-Go (PAYG) Financing 1 1, Are there any PAYG obligations for this district? Yes For the section Wow, report only the documented PAYG costs to be repaid with tax increment. Printed 51612014 Principal and Interest 1213112012 1213112013 -fO Outstanding obligation contingent upon available tax increment Prior Years 2013 Amount E 11; Principal Payments $ 3,539 u, interest payments i $ 0' i $ PAYG Page 9 of 18 A B C D E F G PAYG I PAYG 2 PAYG 3 PAYG 4 PAYG 5 Through PAYG 6 Total Through Through 2013 Through 2013 Through 2013 Through 2013 2013 Through 2013 2013 DOCUMENTED PAYG COSTS Land/building acquisition $ 0 fl 3 Site improvements/preparation costs $ 50,000 i 50,000 4 = Utilities -$0 5 Other public improvements 1 $ 11�000 is 11,000 6 Construction of affordable housing $ 0 $ 0 7 = Small city authorized costs, if not already included above $ 0 0 Temporary economic development {jobs} [Minn. Stat. § 8 i 469.176, subd. 4c (d)] $ 0 Total documented PAYG costs to be paid with tax '9 increment is 0 $ 01 0. $ 1 0 i $ -0 i $ $ 61,000 Principal and Interest 1213112012 1213112013 -fO Outstanding obligation contingent upon available tax increment Prior Years 2013 Amount E 11; Principal Payments $ 3,539 u, interest payments i $ 0' i $ PAYG Page 9 of 18 18049 2013 Dist TIF 2-2 St. Joe Meat Market Saint Joseph - TIF 2-2 St. Joseph Meat Market - 2013 Annual Reporting Form 4 1 51 L§J '14 A B C D —Name on Development Agreement St. Joseph Meat Market t.ommems tovu t-naraciei ate of interest is the prime rate as announced by U5 bank I the current prime rate at 12/31/13 (no change since 2008). Printed 51612014 PAYG Page 10 of 18 18049 2013 Dist TiF 2 -2 St. Joe Meat Market Printed 516(2014 PAYG Page 11 of 18 MTT�IJUTITIT,Trmli = R 0=11 Home 11 Overview 11 District Info Debt Interfund Loans PAYG Project Costs Transfers 11 Rev & Exp Balance Sheet EIC ADS 13 Project Costs $ 50,000 Utilities $ 0 15 EA.._..... $ 11,000 16 Construction of affordable housing $ 0 Small city authorized costs, if not already included above Through Temporary economic development (Jobs) (Minn. Stat. § 469.176, subd. 4c (d) Prior Years 2013 Amount (2010)) 2013 PROJECT COSTS (OTHER THAN PAYG) Increment Land/building acquisition......, $ Site improvements /preparation costs ,.. _._.a..... 0 - 0 ............ . --"",-0" Utilities 0 6 Other public improvements 5 Construction of affordable housing 0 $ 0 $ 0 Small city authorized costs, if not already included above 0 $ _0 0 Temporary economic development (Jobs) [Minn, S t at . § 469.176, subd. 4c (0)] $ 01 0 8 , Authority administrative costs L- 096 182 . .. . ....... County administrative costs 0 $ 0 Subtract prior years' costs paid with public funds other than tax increment $ d, Total Project Costs (Other than PAYG) Paid or Financed with Tax 11] increment and/or TIF Bond Proceeds $ 47=0 1 $ 1 182 $ 652 TOTAL PROJECT COSTS PAID OR TO BE PAID WITH TAX INCREMENT C 24I ANPIPR TIF BOND, 'PROCEEDS Amount of any payments included above for activities and improvements located outside the TIF district and paid for or financed with tax increment i 21 I including administrative costs 1 I 61 Project Costs Page 12 of 18 PROJECT COSTS (PAYG) 1. 2 Land /building acquisition 0- 13 Site improvements/preparation costs $ 50,000 Utilities $ 0 15 Other public improvements $ 11,000 16 Construction of affordable housing $ 0 Small city authorized costs, if not already included above Temporary economic development (Jobs) (Minn. Stat. § 469.176, subd. 4c (d) (2010)) Total Documented Project Costs (PAYG) to be Paid with Tax Increment TOTAL PROJECT COSTS PAID OR TO BE PAID WITH TAX INCREMENT C 24I ANPIPR TIF BOND, 'PROCEEDS Amount of any payments included above for activities and improvements located outside the TIF district and paid for or financed with tax increment i 21 I including administrative costs 1 I 61 Project Costs Page 12 of 18 Transfers [awl 1.�._j Tptpl3ranaf,e.ra1Ou,t1, Are there any transfers of tax increment, to or from the TIF district? .......... .. , A B . .. — C . . ...... 0 Total Through District Name Prior Yoars 2013 �MQ�u 2013 $ TRANSFERS IN $ 0 Transfers of tax Increment from other TIF districts $ - $ $ 0 - $ Jw ................... $ 0 $ 0 27 . . ..... . . ...... .. . ..... . . . . . .. $ 0 $ b $ 0 0 $ 0 $ .1_1_. 0 . . .......... . . . ........ . .... ..... ..... . .. ........ 0 .... . ..... . . . ... .. ..... . ..... .. ... ..... 8 .. ... ...... $ 0 .. $ 0 t $ 0 . ..... . ... ... $ 0 $ 0 $ 0 0, 7F $ 0 ... . ... ... $ 0 . ..... . . .......... ... ... ... . ... [ . ... ..... 0' 3 [�K] _j Total Trari4�ais"Jn $ Total "1 11-111111111 111111-111 0 $ U [awl 1.�._j Tptpl3ranaf,e.ra1Ou,t1, $ 0 0 0 $ $ $ 0 $ 0 $ $ 0 $ $ 0 0 Transfers Page 13 of 18 0 $ 0 $ 0 $ 0 $ 0 $ 0 - $ 0 $ 0 $ b $ 0 Transfers Page 13 of 18 Saint Joseph - TIF 2-2 St. Joseph Meat Market - 2013 Annual Revortina Form Home 11 Overview 11 District Info 11 Debt 11 Interfund Loans 11 PAYG 11 Project Costs 11 Transfers 11 Rev & Exp 11 Balance Sheet 11 EIC 11 A[ Revenues, Expenditures, and Changes in Tax Increment Balance -C Total Through Prior Years 2013 Amount 2013 REVENUES I Tax increment revenues distributed from the county $ 0 3,725 3,725 �2 Interest and investment ear $ $ 0 Market ,value ,,.homestead . credit 0. 4 Loa n/advance repayments $ 0 $ 0 $ 0 L" e ase proceeds $ 0 $ 0 $ 0 Repayments or return of tax increment per agreements, $ $ :0 Total Revenues $ 0 $ 3 725 25 EXPENDITURES Project costs (other than .,PAYG)1,1- gj Tax increment returned to the county ... ................ -.---20 Rev & Exp Page 14 of 18 OTHER SOURCES AND USES 17 Transfers in 0 Transfers ou t ....... ......... $ 0 $ 0 19 Bonds issued (other than refunding bonds) $ 6 $ 20 -ii Refunding bonds issued " " $ 0 $ 0 refunded" Bands $ 0 $ 0 2 Bond discount $ 0 $ 2 J25 Bond premium $ 0 $ 0 �24 Sales of pro , y, $ $ 0 Total Other Sources and Uses . 1 11 — . .. .... ........ . $ 0 $ 0 26 Not change in tax increment balances $ -(-4--770) $ 47 127-1 Tax .Increment lbalance (beginning 91!01/20.1-3.) Tax increment balance (ending 12/31/2013) Rev & Exp Page 14 of 18 Saint Joseph - TIF 2-2 St. Joseph Meat Market 2013 Annual Reporting Form F—Ho —me- 1 FO—v —er v —ie w-- 1 FD—ist—rict—Rnfo-T—De—bt l Interfund Loans PAYG 11 Project Costs 11 Transfers 11: Rev & Exp 11, Bala Balance Sheet [.1'.,-"", ... ..... ..... 1---- 12/3112012 12/3112013 TAX INCREMENT BALANCE Total 'Tax, Increment Balance Total Liabilities and Tax Increment Balance MMM Balance Sheet Page 15 of 18 Saint Joseph - TIF 2-2 St. JoseiDh Meat Market - 2013 Annual Excess Increment Calculation Excess increment calculation report required? If the total costs authorized by the TIF plan to be paid or financed with tax increment from the district exceed the total tax increment collected from the district by 20 percent, the excess increment calculation is not required to be reported. Excess increment calculation reporting exemption: Minn. Stat, § 469.176, subd. 2 (g). 2 5 Tax increment generated by the district since certification 3,725 _e above lamount by 1-.12 $ 4,470 41 866,56ig- Total costs authorized by to be paid or financed with tax increment Based on the calculation above, the Excess Increment Calculation Report is: NOT R7757M E 17 i school EIC Page 16 of 18 Saint 2013 Annual orm 2013 Annual Disclosure Statement | 1 | Name of Development Authority: I Saint Joseph �� _ Name ofmunicipality: The following information represents the annual disclosure u tax increment districts for the year ended December o1 2013. L�J St. Joseph Newsieader 14 J (Name of the Newspaper) (Date ofPublication) TIF 2-2 St. Joseph Meat Market (All lines within the table above must be published 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 ie shared throughout the area. |na tax increment financing district, this value sharing can either result ino tax increase for other pvoperUeminthemun|cipa|ityornesukinedeuremaeinbaxinonemen{finanoingdisthot revenue depending on how the tax increment financing district is established. Tax Increment Financing District TIF 2-2 St. Joseph Meat Market does not share its growth in commercial- industrial propertyhaxva|ues. This results inan increase in property taxes for other properties inthis municipality. For taxes payable in 2013, this increase in taxes on other properties amounted to $0.00. Additional information regarding this district may be obtained from: ADS Page 17 of 18 pieaae enter anvaooumnm comments neaam/nommommm(woonaramernmnoncomments): �� u Balance Shei Comments Page 18of18