Loading...
HomeMy WebLinkAbout[04e] 2014 TIF Reports 4e Council Agenda Item MEETING DATE: June 1, 2015 AGENDA ITEM: 2014 TIF Reports SUBMITTED BY: Finance PREVIOUS COUNCIL/BOARD ACTION: Council approved the creation of the TIF Districts below. th The EDA recommended acceptance on May 27 for submittal to the State Auditor. nnually the City is required to submit TIF reports to the State BACKGROUND INFORMATION: A Auditor for each certified TIF District within the City. State Statute requires filing the reports by August st 1 of each year. For 2014 there are two certified districts –Millstream Shops & Lofts (TIF 2-1) and St. Joseph Meat Market (TIF 2-2) plus one decertified district (TIF 1-4 St. Joseph Development) that is required to report due to a current deferred loan. The 2014 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). District 1-4 was an economic district. The State allowed excess TIF to be spent on other projects with special legislation approved in 2011. TIF 1-4 issued two deferred loans to Collegeville Communities and the Meat Market. The deferred loans are forgiven after ten years (2021). 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 2014 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) TIF District 1-4 (St. Joseph Development) REQUESTED COUNCIL ACTION: Accept the 2014 TIF reports as presented. 16711_2014_Dist TIF 2-1 (2) Saint Joseph - TIF 2-1 Millstream Project - 2014 Annual Reporting Form Home OverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet Home Home The Annual Reporting Form is required for each TIF district that must report in 2015 for the reporting year 2014 and is due by August 1, 2015. Sections of this Annual Reporting Form may be pre-populated with previously reported information. This Annual Reporting Form is interactive, a line on one worksheet may carry over to another sheet. These cells are shaded yellow. Some columns automatically calculate a total. These cells are shaded blue. The information in the shaded cells cannot be changed directly but the information can be changed on the original worksheet. Please become familiar with the forms and review each line for accuracy. What do the red messages in the form indicate? The red messages in the right margin indicate that data must be entered or corrected before the reporting form can be submitted. Once the data has been entered or corrected, the red message will no longer be displayed. Tab NameRed Messages Remaining Overview 0 District Info 0 Debt 0 Interfund Loans 0 PAYG 0 Project Costs 0 Transfers 0 Rev & Exp 0 Balance Sheet 0 EIC 0 ADS 0 Comments 0 Cut and Paste Errors 0 TOTAL COUNT0 Have you read the instructions? Detailed instructions on how to complete the Annual Reporting Form are available by clicking the link below. CLICK HERE for detailed reporting instructions Have you read the TIF Statements of Position? The Office of the State Auditor (OSA) prepares Statements of Position to provide an educational resource to local governments, auditors and the public. Statements of Position are not legal advice and should not be relied upon in lieu of legal advice. CLICK HERE for a list of all TIF Statements of Position Have you saved your files? Use the SAVE AS command and choose the location to save your files on your computer. Otherwise, they will be saved to a temporary location, making them difficult to locate when you are ready to upload. Are your calculations too slow? Home 16711_2014_Dist TIF 2-1 (2) If the calculations are too slow, change the calculation options from automatic to manual. For information regarding how to change the calculation process, please see the following link to Microsoft. CLICK HERE for Microsoft Change formula recalculation, iteration, or precision "Change when a worksheet or workbook recalculates" Do you need additional forms? A TIF District Annual Reporting Form is required to be submitted for a TIF district beginning with the year the district is certified. If you have a new TIF district that needs to be reported for 2014, please email the OSA as soon as possible. For new TIF districts, you must complete a TIF Plan Collection Form through SAFES (State Auditor's Form Entry System) before a 2014 District Annual Form can be generated. If you have a new pooled debt issue to be reported for 2014, please email the OSA. TIF@osa.state.mn.us Is this TIF District recently decertified? If a district has recently been decertified, please print and complete a Confirmation of Decertification Form from our website. Complete and sign Part A, and send the form to your County Auditor. He or she will verify the information and sign Part B. It is the authority's responsibility to make sure the OSA receives a fully completed decertification form. Confirmation of Decertification Form If the district is decertified before the maximum duration limit identified in the TIF Act is reached, please submit a copy of the city council's resolution to decertify the district in addition to the Confirmation of Decertification. Do you have additional information to share with our office? A comment box is available at the end of the reporting form. Please use the comment box as needed to share information that may be pertinent to the reporting form. If your comment exceeds the space available on the reporting form, you may email the OSA to share the information. TIF@osa.state.mn.us Home 16711_2014_Dist TIF 2-1 (2) Saint Joseph - TIF 2-1 Millstream Project - 2014 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet Overview Tax Increment Financing Annual Reporting Form for the Year Ended December 31, 2014 TIF District Name: TIF 2-1 Millstream Project 1 Development Authority: 2Saint Joseph District Type: 3Redevelopment County Where TIF District is Located: 4Stearns County Identification Number, if any: 5131 Is the small city exception being used? 6Not Applicable 7Is this TIF district in a fiscal disparities area?No 8If yes, under what option?Not Applicable Original TIF Plan Information 9TIF Plan Approval Date:05/03/2007 10Certification Request Date:08/16/2007 11Certification Date:08/14/2008 District Duration 12Month and year of first receipt of tax increment (actual or anticipated):07/2009 13Required Decertification Date:12/31/2034 TIF Plan Estimates - Original Plan05/03/2007 05/03/2007 ESTIMATED TAX INCREMENT REVENUES (from tax increment generated by the district) 14Tax increment revenues distributed from the county$ 1,598,000 15Interest and investment earnings$ 0 16Sales/lease proceeds$ 0 17Market value homestead credit$ 0 Total Estimated Tax Increment Revenues$ 1,598,000 18 ESTIMATED PROJECT/FINANCING COSTS (to be paid or financed with tax increment) Project costs 19Land/building acquisition$ 467,000 20Site improvements/preparation costs$ 0 21Utilities$ 15,000 22Other public improvements$ 0 23 Construction of affordable housing$ 0 24Small city authorized costs, if not already included above$ 0 25Administrative costs$ 166,000 Estimated Tax Increment Project Costs$ 648,000 26 Estimated financing costs 27Interest expense$ 950,000 Total Estimated Project/Financing Costs to be Paid From Tax Increment$ 1,598,000 28 05/03/2007 ESTIMATED FINANCING 29Total amount of bonds to be issued$ 467,000 OverviewPage 1 of 19 16711_2014_Dist TIF 2-1 (2) Saint Joseph - TIF 2-1 Millstream Project - 2014 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet District Info District Information Special Legislation 1No Was any special legislation enacted for this district? 2ABCD YearChapterArticleSection 1 2 3 4 5 6 7 Captured Tax Capacity 3(Only select "Not Applicable" if Decertified or Entirely Tax Exempt) Applicable 2014 Amount 4Current net tax capacity+$ 40,348 5Original net tax capacity-$ 5,530 Captured net tax capacity $ 34,818 (If negative, show $0) 6= 7Fiscal disparity deduction, if applicable (option B)-$ 0 8Captured net tax capacity shared with other taxing jurisdictions-$ 0 Captured net tax capacity retained for tax increment financing (If negative, show $0) $ 34,818 9= Fiscal Disparities Enter the amount of total increased property taxes to be paid from outside the TIF district from line 33 of the Department of Revenue's fiscal disparity option A calculation form. 10 Five-Year Rule 11Did one or more of the following actions occur before8/14/2018?No If yes, select "Yes" at the appropriate actions: 12Revenues were paid to a third partyNo 13Bonds were issued and sold to a third partyNo Binding contracts with a third party were entered into and the revenues will be spent under the contractual obligation 14No 15Activity costs were paid for and revenues are spent to reimburse a party for payment of the activity costsNo Expenditures were made for housing or public infrastructure purposes as permitted by Minn. Stat. § 469.1763, subd. 3 (a) (5) 16No Statutory County Correction of Error(s) Has the authority resolved with the county auditor any error qualifying under Minn. Stat. § 469.177, subd. 13, during the year ended December 31, 2014? (If no error occurred, select "No".) 17No Decertification 18No Has this district been decertified? Actual Decertification Date: 19 District InfoPage 2 of 19 16711_2014_Dist TIF 2-1 (2) Saint Joseph - TIF 2-1 Millstream Project - 2014 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance SheetEICADS Debt 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 retired before 2010 Did this district have general obligation bonds, revenue bonds, or other debt that was ? 2 (Do not consider Pay-As-You-Go (PAYG) or interfund loans.)No Principal and Interest ABC Bonds Retired Before 2010All Prior Years2014 Amount $ 0 3Bonds issued (other than refunding bonds)#$ 0$ 0 $ 0 4Refunding bonds issued#$ 0$ 0 $ 0 5Principal payments from tax increment#$ 0$ 0 $ 0 6Interest payments from tax increment#$ 0$ 0 DebtPage 3 of 19 16711_2014_Dist TIF 2-1 (2) Saint Joseph - TIF 2-1 Millstream Project - 2014 Annual Reporting Form Key To Drop-Down Menu for "Type" A- General Obligation Bonds B- Revenue Bonds C- Other Debt 7ABCDEFGHIJ Refunding Refunded Amount Pooled Type Final Issue Refunded (if NameIssue DateMaturity DateInterest Rate RangeAmountrefunded) ########-%## 1 ########-%## 2 ########-%## 3 ########-%## 4 ########-%## 5 ########-%## 6 ########-%## 7 ########-%## 8 ########-%## 9 ########-%## 10 ########-%## 11 ########-%## 12 ########-%## 13 ########-%## 14 ########-%## 15 ########-%## 16 ########-%## 17 ########-%## 18 ########-%## 19 ########-%## 20 Do not consider PAYG and interfund loans. If you need to report additional bonds, please contact the OSA. Comments (500 character limit): #N/A 8 DebtPage 4 of 19 16711_2014_Dist TIF 2-1 (2) Saint Joseph - TIF 2-1 Millstream Project - 2014 Annual Reporting Form KLMNOPQRSTUVW PrincipalInterest Paid in Prior Paid in Prior Paid in Prior Paid in Prior Years From Years From Paid in 2014 Paid in 2014 Due in 2015 Years From Years From Paid in 2014 Paid in 2014 Due in 2015 Tax Other From Tax From Other Additions in Additions in From Tax Tax Other From Tax From Other From Tax IncrementSourcesIncrementSourcesPrior Years2014OutstandingIncrementIncrementSourcesIncrementSourcesIncrement #######$ 0###### 1 #######$ 0###### 2 #######$ 0###### 3 #######$ 0###### 4 #######$ 0###### 5 #######$ 0###### 6 #######$ 0###### 7 #######$ 0###### 8 #######$ 0###### 9 #######$ 0###### 10 #######$ 0###### 11 #######$ 0###### 12 #######$ 0###### 13 #######$ 0###### 14 #######$ 0###### 15 #######$ 0###### 16 #######$ 0###### 17 #######$ 0###### 18 #######$ 0###### 19 #######$ 0###### 20 #N/A DebtPage 5 of 19 16711_2014_Dist TIF 2-1 (2) Saint Joseph - TIF 2-1 Millstream Project - 2014 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet Interfund Loans Interfund Loans 1Does/Did this district have interfund loans outstanding after 2009?No retired before 2010 Did this district pay interest on interfund loans that were ? 2No Interfund Loans AB 12/31/201312/31/2014 3Due to other TIF districts$ 0$ 0 4Due to non-tax increment accounts$ 0$ 0 5Due from other TIF districts$ 0$ 0 6Due from non-tax increment accounts$ 0$ 0 Principal and Interest ABC Interfund Loans Retired Before 2010Prior Years2014 Amount 7Principal payments paid from this district$ 0$ 0 8Interest payments paid from this district$ 0$ 0$ 0 Interfund LoansPage 6 of 19 16711_2014_Dist TIF 2-1 (2) Saint Joseph - TIF 2-1 Millstream Project - 2014 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 9ABCDEFG Name of Second Party (District or Non-Tax Increment Account) Type Resolution Final Authorized DistrictNon-Tax Increment AccountDateMaturity DateInterest Rate Range Amount -% 1 -% 2 -% 3 -% 4 -% 5 -% 6 -% 7 -% 8 -% 9 -% 10 -% 11 -% 12 -% 13 -% 14 -% 15 -% 16 -% 17 -% 18 -% 19 -% 20 If you need to report additional interfund loans, please contact the OSA. Comments (500 Character limit): 10 Interfund LoansPage 7 of 19 16711_2014_Dist TIF 2-1 (2) Saint Joseph - TIF 2-1 Millstream Project - 2014 Annual Reporting Form HIJKLMNOPQR PrincipalInterest Prior Years 2014 Additions/Additions/Paid/Paid/ Draw Draw Paid/Rec'd in Paid/Rec'd in Reductions Reductions Rec'd in Rec'd in AmountAmountPrior Years2014Prior Yearsin 2014OutstandingDue in 2015Prior Years2014Due in 2015 $ 0 1 $ 0 2 $ 0 3 $ 0 4 $ 0 5 $ 0 6 $ 0 7 $ 0 8 $ 0 9 $ 0 10 $ 0 11 $ 0 12 $ 0 13 $ 0 14 $ 0 15 $ 0 16 $ 0 17 $ 0 18 $ 0 19 $ 0 20 Interfund LoansPage 8 of 19 16711_2014_Dist TIF 2-1 (2) Saint Joseph - TIF 2-1 Millstream Project - 2014 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance SheetEICADSComments PAYG Pay-As-You-Go (PAYG) Financing 1Are there any PAYG obligations for this district?Yes For the section below, report only the documented PAYG costs to be repaid with tax increment. ABCDEFG Collegeville Total All PAYGPAYG 2 PAYG 3 PAYG 4 Through PAYG 5 PAYG 6 Development Through 2014Through 2014Through 20142014Through 2014Through 2014 Group, LLC DOCUMENTED PAYG COSTS 2Land/building acquisition$ 467,000$ 467,000 3Site improvements/preparation costs$ 0$ 0 4Utilities$ 0$ 0 5Other public improvements$ 0$ 0 6Construction of affordable housing$ 0$ 0 7Small city authorized costs, if not already included above$ 0$ 0 Temporary economic development (jobs) \[Minn. Stat. § 8469.176, subd. 4c (d)\]$ 0$ 0 Total documented PAYG costs to be paid with tax 9increment$ 467,000$ 467,000$ 0$ 0$ 0$ 0$ 0 Principal and Interest 12/31/201312/31/2014 10Outstanding obligation contingent upon available tax increment$ 459,844$ 458,900 Prior Years2014 Amount 11Principal payments$ 7,156$ 944 12Interest payments$ 127,660$ 32,416 PAYGPage 9 of 19 16711_2014_Dist TIF 2-1 (2) HIJK PAYG 7 PAYG 8 Through PAYG 9 PAYG 10 DOCUMENTED Through 20142014Through 2014Through 2014 PAYG COSTS Land/Bldg Acq2 Site Impv/Prep3 Utilities4 Other Pub Impr5 Affordable Hsg6 Small City7 Temp Jobs Bill8 $ 0$ 0$ 0$ 0TOTAL9 PAYGPage 10 of 19 16711_2014_Dist TIF 2-1 (2) Saint Joseph - TIF 2-1 Millstream Project - 2014 Annual Reporting Form A 13BCDEF Final Contract / Documented Name on Development AgreementIssue DateMaturity DateInterest Rate RangeNote AmountAmount Collegeville Development Group, LLC07/20/200702/01/20358.250-8.250%$ 467,000$ 467,000 1 -%$ 0 2 -%$ 0 3 -%$ 0 4 -%$ 0 5 -%$ 0 6 -%$ 0 7 -%$ 0 8 -%$ 0 9 -%$ 0 10 Comments (500 Character limit): Allocated interest in note payment for 2014 - all principal recorded in previous years 14 PAYGPage 11 of 19 16711_2014_Dist TIF 2-1 (2) Saint Joseph - TIF 2-1 Millstream Project - 2014 Annual Reporting Form GHIJKLMNO PrincipalInterest Additions/Additions/ Paid in Prior Reductions Reductions Paid in Prior YearsPaid in 2014Prior Yearsin 2014OutstandingDue in 2015YearsPaid in 2014Due in 2015 $ 7,156$ 944$ 0$ 0$ 458,900$ 950$ 127,660$ 32,416$ 37,000 11 $ 0 22 $ 0 33 $ 0 44 $ 0 55 $ 0 66 $ 0 77 $ 0 88 $ 0 99 $ 0 1010 PAYGPage 12 of 19 Comments 16711_2014_Dist TIF 2-1 (2) Saint Joseph - TIF 2-1 Millstream Project - 2014 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance SheetEICADS Project Costs Project Costs ABC Total Through Prior Years2014 Amount2014 PROJECT COSTS (OTHER THAN PAYG) 1Land/building acquisition#$ 0#$ 0#$ 0 2Site improvements/preparation costs#$ 0#$ 0#$ 0 3Utilities#$ 0#$ 0#$ 0 4Other public improvements#$ 0#$ 0#$ 0 5Construction of affordable housing#$ 0#$ 0#$ 0 6Small city authorized costs, if not already included above#$ 0#$ 0#$ 0 Temporary economic development (Jobs) 7 \[Minn. Stat. § 469.176, subd. 4c (d)\]#$ 0#$ 0#$ 0 8Authority administrative costs#$ 4,459#$ 1,888#$ 6,347 9County administrative costs#$ 0#$ 0#$ 0 10Subtract prior years' costs paid with public funds other than tax increment#$ 0#$ 0 Total Project Costs (Other than PAYG) Paid or Financed with Tax Increment and/or TIF Bond Proceeds 11#$ 4,459#$ 1,888#$ 6,347 PROJECT COSTS (PAYG) 12Land/building acquisition$ 467,000 13Site improvements/preparation costs$ 0 14Utilities$ 0 15Other public improvements$ 0 16Construction of affordable housing$ 0 17Small city authorized costs, if not already included above$ 0 Temporary economic development (Jobs) (Minn. Stat. § 469.176, subd. 4c (d) 18(2010))$ 0 Total Documented Project Costs (PAYG) to be Paid with Tax Increment 19$ 467,000 TOTAL PROJECT COSTS PAID OR TO BE PAID WITH TAX INCREMENT 20$ 473,347 AND/OR 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 21including administrative costs#$ 4,459#$ 1,888#$ 6,347 Project CostsPage 13 of 19 EIC 16711_2014_Dist TIF 2-1 (2) Saint Joseph - TIF 2-1 Millstream Project - 2014 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet Transfers Transfers 1Are there any transfers of tax increment to or from the TIF district?No ABCD Total Through 2014 District NamePrior Years2014 Amount TRANSFERS IN 2 Transfers of tax increment from other TIF districts ####$ 0 1 ####$ 0 2 ####$ 0 3 ####$ 0 4 ####$ 0 5 ####$ 0 6 ####$ 0 7 ####$ 0 8 ####$ 0 9 ####$ 0 10 ####$ 0 11 ####$ 0 12 ####$ 0 13 ####$ 0 14 ####$ 0 15 ####$ 0 16 ####$ 0 17 ####$ 0 18 ####$ 0 19 ####$ 0 20 Total Transfers In 3#$ 0#$ 0#$ 0 TRANSFERS OUT 4 Transfers of tax increment to other TIF districts ####$ 0 1 ####$ 0 2 ####$ 0 3 ####$ 0 4 ####$ 0 5 ####$ 0 6 ####$ 0 7 ####$ 0 8 ####$ 0 9 ####$ 0 10 ####$ 0 11 ####$ 0 12 ####$ 0 13 ####$ 0 14 ####$ 0 15 ####$ 0 16 ####$ 0 17 ####$ 0 18 ####$ 0 19 ####$ 0 20 Total Transfers Out 5#$ 0#$ 0#$ 0 TransfersPage 14 of 19 16711_2014_Dist TIF 2-1 (2) Saint Joseph - TIF 2-1 Millstream Project - 2014 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersBalance SheetEICADS Rev & Exp Rev & Exp Revenues, Expenditures, and Changes in Tax Increment Balance ABC Total Through Prior Years2014 Amount2014 REVENUES 1Tax increment revenues distributed from the county#$ 148,272#$ 37,067#$ 185,339 2Interest and investment earnings#$ 1,670#$ 276#$ 1,946 3Market value homestead credit#$ 952#$ 0#$ 952 4Loan/advance repayments#$ 0#$ 0#$ 0 5Lease proceeds#$ 0#$ 0#$ 0 6Repayments or return of tax increment per agreements#$ 0#$ 0#$ 0 Total Revenues 7#$ 150,894#$ 37,343#$ 188,237 EXPENDITURES 8Project costs (other than PAYG)#$ 4,459#$ 1,888#$ 6,347 9Tax increment returned to the county#$ 0#$ 0#$ 0 Bond Payments Principal 10Payments for PAYG note or contract#$ 7,156#$ 944#$ 8,100 11Payments on all other bonds#$ 0#$ 0#$ 0 Interest 12Interest on PAYG#$ 127,660#$ 32,416#$ 160,076 13Interest on all other bonds#$ 0#$ 0#$ 0 14Interest on interfund loans#$ 0#$ 0#$ 0 Total Expenditures 15#$ 139,275#$ 35,248#$ 174,523 Revenues over (under) expenditures 16#$ 11,619#$ 2,095#$ 13,714 OTHER SOURCES AND USES 17Transfers in#$ 0#$ 0#$ 0 18Transfers out#$ 0#$ 0#$ 0 19Bonds issued (other than refunding bonds)#$ 0#$ 0#$ 0 20Refunding bonds issued#$ 0#$ 0#$ 0 21Bonds refunded#$ 0#$ 0#$ 0 22Bond discount#$ 0#$ 0#$ 0 23Bond premium#$ 0#$ 0#$ 0 24Sales of property#$ 0#$ 0#$ 0 Total Other Sources and Uses 25#$ 0#$ 0#$ 0 Net change in tax increment balances 26#$ 11,619#$ 2,095#$ 13,714 27Tax Increment balance (beginning 01/01/2014)#$ 11,619 28Tax Increment balance (ending 12/31/2014)#$ 13,714 Rev & ExpPage 15 of 19 16711_2014_Dist TIF 2-1 (2) Saint Joseph - TIF 2-1 Millstream Project - 2014 Annual Reporting Form HomeOverviewOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet Balance Sheet Balance Sheet AB 12/31/201312/31/2014 ASSETS 1Cash#$ 11,614#$ 15,452 2Investments#$ 0#$ 0 3Due from other TIF districts#$ 0#$ 0 4Due from non-tax increment accounts#$ 0#$ 0 5Interest receivable#$ 5#$ 29 6Taxes receivable#$ 0#$ 0 7Other receivables#$ 0#$ 0 8Property held for resale#$ 0#$ 0 Total Assets 9#$ 11,619#$ 15,481 LIABILITIES 10Due to other TIF districts#$ 0#$ 0 11Due to non-tax increment accounts#$ 0#$ 0 12Accounts payable#$ 0#$ 1,767 13Unearned revenue#$ 0#$ 0 Total Liabilities 14#$ 0#$ 1,767 15Deferred Inflows#$ 0#$ 0 Total Liabilities and Deferred Inflows 16#$ 0#$ 1,767 TAX INCREMENT BALANCE Total Tax Increment Balance 17#$ 11,619#$ 13,714 Total Liabilities and Tax Increment Balance 18#$ 11,619#$ 15,481 Balance SheetPage 16 of 19 16711_2014_Dist TIF 2-1 (2) Saint Joseph - TIF 2-1 Millstream Project - 2014 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersTransfersRev & ExpBalance Sheet EIC 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 or more, the excess increment calculation is not required to be reported. Excess increment calculation reporting exemption: Minn. Stat. § 469.176, subd. 2 (g). 1Tax increment generated by the district since certification$ 188,237 2Multiply the above amount by 1.2$ 225,884 3Total costs authorized by the TIF plan to be paid or financed with tax increment$ 1,598,000 NOT REQUIRED 4Based on the calculation above, the Excess Increment Calculation Report is: Excess Increment Calculation Report 5Total tax increment generated by the district since certification$ 188,237 6Subtract total tax increment returned to the county$ 0 7Subtotal A$ 188,237 8Total costs authorized by the TIF plan to be paid or financed with tax increment$ 1,598,000 9Subtract authorized costs that have been or will be paid from sources other than tax increment 10Subtract principal and interest payments due after the year ended December 31, 2014 Add transfers of increment made prior to December 31, 2014, used to pay for Minn. Stat. § 469.1763 deficits 11 12Subtotal B$ 1,598,000 13Excess increment (Subtract subtotal B from subtotal A)$ (1,409,763) Subtract any of the authorized uses of excess increment listed below: 14Prepayment of any outstanding bonds 15Discharge of the pledge of tax increment for any outstanding bonds 16Payment into an escrow account dedicated to the payment of any outstanding bond 17Excess increment after subtractions of authorized uses*$ (1,409,763) *Excess increments after subtractions must be returned to the county for distribution to the city, county, and school districts in which the TIF district is located within nine months after the end of the year (by September 30). EICPage 17 of 19 16711_2014_Dist TIF 2-1 (2) Saint Joseph - TIF 2-1 Millstream Project - 2014 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExprBalance Sheet ADS 2014 Annual Disclosure Statement Saint Joseph 1Name of Development Authority: 2Name of Municipality:Saint Joseph 3St. Joseph Newsleader06/05/2015 (Name of the Newspaper)(Date of Publication) The following information represents the annual disclosure of tax increment districts for the year ended December 31, 2014. TIF 2-1 Millstream Project 4Current net tax capacity$ 40,348 5Original net tax capacity$ 5,530 6Captured net tax capacity$ 34,818 7Principal and interest payments due in 2015$ 37,950 8Tax increment received in 2014$ 37,343 9Tax increment expended in 2014$ 35,248 10Month and year of first tax increment receipt07/2009 11Date of required decertification12/31/2034 The total increased property taxes to be paid from outside the district if fiscal disparities Option A applies* 12$ 0 * 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 decrease in tax increment financing district revenue or a tax increase for other properties in the municipality depending on whether the tax increment financing district contributes its share of the growth. Amounts displayed here indicate that the district did not contribute its growth in commercial- industrial property tax values and represent the resulting increase in taxes on other properties in the City for taxes payable in 2014. Additional information regarding this district may be obtained from: Name: 13Lori Bartlett Address: 14PO Box 668 City: 15St. Joseph State: 16MN Zip Code: 1756374 Phone: 18(320) 363-7201Enter as 6512962551. Email: 19lbartlett@cityofstjoseph.comEnter 'none' if no email address. ADSPage 18 of 19 16711_2014_Dist TIF 2-1 (2) Saint Joseph - TIF 2-1 Millstream Project - 2014 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet Comments Comments Please enter any additional comments regarding this district (500 character limit on Comments): 2014 AP = reimbursement to the EDA for exp incurred in 2014 for TIF redevelop inquiries in the project area by MDG. 1 The exp will be reported in the 2015 City audited financial statements. The expenses were found after the 2014 financial statements were completed. $11,000 prior year rev/exp removed from prior year #s. The $11,000 was a deposit for TIF plan preparations prior to the TIF certification. Missed a $2500 invoice from prior years - added to admin project costs in prior years. CommentsPage 19 of 19 18049_2014_Dist TIF 2-2Printed 5/28/ Saint Joseph - TIF 2-2 St. Joseph Meat Market - 2014 Annual Reporting Form Home OverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet Home Home The Annual Reporting Form is required for each TIF district that must report in 2015 for the reporting year 2014 and is due by August 1, 2015. Sections of this Annual Reporting Form may be pre-populated with previously reported information. This Annual Reporting Form is interactive, a line on one worksheet may carry over to another sheet. These cells are shaded yellow. Some columns automatically calculate a total. These cells are shaded blue. The information in the shaded cells cannot be changed directly but the information can be changed on the original worksheet. Please become familiar with the forms and review each line for accuracy. What do the red messages in the form indicate? The red messages in the right margin indicate that data must be entered or corrected before the reporting form can be submitted. Once the data has been entered or corrected, the red message will no longer be displayed. Tab NameRed Messages Remaining Overview 0 District Info 0 Debt 0 Interfund Loans 0 PAYG 0 Project Costs 0 Transfers 0 Rev & Exp 0 Balance Sheet 0 EIC 0 ADS 0 Comments 0 Cut and Paste Errors 0 TOTAL COUNT0 Have you read the instructions? Detailed instructions on how to complete the Annual Reporting Form are available by clicking the link below. CLICK HERE for detailed reporting instructions Have you read the TIF Statements of Position? The Office of the State Auditor (OSA) prepares Statements of Position to provide an educational resource to local governments, auditors and the public. Statements of Position are not legal advice and should not be relied upon in lieu of legal advice. CLICK HERE for a list of all TIF Statements of Position Have you saved your files? Use the SAVE AS command and choose the location to save your files on your computer. Otherwise, they will be saved to a temporary location, making them difficult to locate when you are ready to upload. Are your calculations too slow? Home 18049_2014_Dist TIF 2-2Printed 5/28/ If the calculations are too slow, change the calculation options from automatic to manual. For information regarding how to change the calculation process, please see the following link to Microsoft. CLICK HERE for Microsoft Change formula recalculation, iteration, or precision "Change when a worksheet or workbook recalculates" Do you need additional forms? A TIF District Annual Reporting Form is required to be submitted for a TIF district beginning with the year the district is certified. If you have a new TIF district that needs to be reported for 2014, please email the OSA as soon as possible. For new TIF districts, you must complete a TIF Plan Collection Form through SAFES (State Auditor's Form Entry System) before a 2014 District Annual Form can be generated. If you have a new pooled debt issue to be reported for 2014, please email the OSA. TIF@osa.state.mn.us Is this TIF District recently decertified? If a district has recently been decertified, please print and complete a Confirmation of Decertification Form from our website. Complete and sign Part A, and send the form to your County Auditor. He or she will verify the information and sign Part B. It is the authority's responsibility to make sure the OSA receives a fully completed decertification form. Confirmation of Decertification Form If the district is decertified before the maximum duration limit identified in the TIF Act is reached, please submit a copy of the city council's resolution to decertify the district in addition to the Confirmation of Decertification. Do you have additional information to share with our office? A comment box is available at the end of the reporting form. Please use the comment box as needed to share information that may be pertinent to the reporting form. If your comment exceeds the space available on the reporting form, you may email the OSA to share the information. TIF@osa.state.mn.us Home 18049_2014_Dist TIF 2-2Printed 5/28/ Saint Joseph - TIF 2-2 St. Joseph Meat Market - 2014 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet Overview Tax Increment Financing Annual Reporting Form for the Year Ended December 31, 2014 TIF District Name: TIF 2-2 St. Joseph Meat Market 1 Development Authority: 2Saint Joseph District Type: 3Economic Development County Where TIF District is Located: 4Stearns County Identification Number, if any: 50149 Is the small city exception being used? 6No 7Is this TIF district in a fiscal disparities area?No 8If yes, under what option?Not Applicable Original TIF Plan Information 9TIF Plan Approval Date:04/21/2011 10Certification Request Date:04/21/2011 11Certification Date:03/27/2012 District Duration 12Month and year of first receipt of tax increment (actual or anticipated):07/2013 13Required Decertification Date:12/31/2021 TIF Plan Estimates - Original Plan04/21/2011 04/21/2011 ESTIMATED TAX INCREMENT REVENUES (from tax increment generated by the district) 14Tax increment revenues distributed from the county$ 85,894 15Interest and investment earnings$ 695 16Sales/lease proceeds$ 0 17Market value homestead credit$ 0 Total Estimated Tax Increment Revenues$ 86,589 18 ESTIMATED PROJECT/FINANCING COSTS (to be paid or financed with tax increment) Project costs 19Land/building acquisition$ 0 20Site improvements/preparation costs$ 50,000 21Utilities$ 0 22Other public improvements$ 11,000 23 Construction of affordable housing$ 0 24Small city authorized costs, if not already included above$ 0 25Administrative costs$ 8,589 Estimated Tax Increment Project Costs$ 69,589 26 Estimated financing costs 27Interest expense$ 17,000 Total Estimated Project/Financing Costs to be Paid From Tax Increment$ 86,589 28 04/21/2011 ESTIMATED FINANCING 29Total amount of bonds to be issued$ 100,000 OverviewPage 1 of 19 18049_2014_Dist TIF 2-2Printed 5/28/ Saint Joseph - TIF 2-2 St. Joseph Meat Market - 2014 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet District Info District Information Special Legislation 1No Was any special legislation enacted for this district? 2ABCD YearChapterArticleSection 1 2 3 4 5 6 7 Captured Tax Capacity 3(Only select "Not Applicable" if Decertified or Entirely Tax Exempt) Applicable 2014 Amount 4Current net tax capacity+$ 10,826 5Original net tax capacity-$ 7,626 Captured net tax capacity $ 3,200 (If negative, show $0) 6= 7Fiscal disparity deduction, if applicable (option B)-$ 0 8Captured net tax capacity shared with other taxing jurisdictions-$ 0 Captured net tax capacity retained for tax increment financing (If negative, show $0) $ 3,200 9= Fiscal Disparities Enter the amount of total increased property taxes to be paid from outside the TIF district from line 33 of the Department of Revenue's fiscal disparity option A calculation form. 10 Five-Year Rule 11Did one or more of the following actions occur before3/27/2017?No If yes, select "Yes" at the appropriate actions: 12Revenues were paid to a third partyNo 13Bonds were issued and sold to a third partyNo Binding contracts with a third party were entered into and the revenues will be spent under the contractual obligation 14No 15Activity costs were paid for and revenues are spent to reimburse a party for payment of the activity costsNo Expenditures were made for housing or public infrastructure purposes as permitted by Minn. Stat. § 469.1763, subd. 3 (a) (5) 16No Statutory County Correction of Error(s) Has the authority resolved with the county auditor any error qualifying under Minn. Stat. § 469.177, subd. 13, during the year ended December 31, 2014? (If no error occurred, select "No".) 17No Decertification 18No Has this district been decertified? Actual Decertification Date: 19 District InfoPage 2 of 19 18049_2014_Dist TIF 2-2Printed 5/28/ Saint Joseph - TIF 2-2 St. Joseph Meat Market - 2014 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance SheetEICADS Debt 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 retired before 2010 Did this district have general obligation bonds, revenue bonds, or other debt that was ? 2 (Do not consider Pay-As-You-Go (PAYG) or interfund loans.)No Principal and Interest ABC Bonds Retired Before 2010All Prior Years2014 Amount $ 0 3Bonds issued (other than refunding bonds)#$ 0$ 0 $ 0 4Refunding bonds issued#$ 0$ 0 $ 0 5Principal payments from tax increment#$ 0$ 0 $ 0 6Interest payments from tax increment#$ 0$ 0 DebtPage 3 of 19 18049_2014_Dist TIF 2-2Printed 5/28/ Saint Joseph - TIF 2-2 St. Joseph Meat Market - 2014 Annual Reporting Form Key To Drop-Down Menu for "Type" A- General Obligation Bonds B- Revenue Bonds C- Other Debt 7ABCDEFGHIJ Refunding Refunded Amount Pooled Type Final Issue Refunded (if NameIssue DateMaturity DateInterest Rate RangeAmountrefunded) ########-%## 1 ########-%## 2 ########-%## 3 ########-%## 4 ########-%## 5 ########-%## 6 ########-%## 7 ########-%## 8 ########-%## 9 ########-%## 10 ########-%## 11 ########-%## 12 ########-%## 13 ########-%## 14 ########-%## 15 ########-%## 16 ########-%## 17 ########-%## 18 ########-%## 19 ########-%## 20 Do not consider PAYG and interfund loans. If you need to report additional bonds, please contact the OSA. Comments (500 character limit): #N/A 8 DebtPage 4 of 19 18049_2014_Dist TIF 2-2Printed 5/28/ Saint Joseph - TIF 2-2 St. Joseph Meat Market - 2014 Annual Reporting Form KLMNOPQRSTUVW PrincipalInterest Paid in Prior Paid in Prior Paid in Prior Paid in Prior Years From Years From Paid in 2014 Paid in 2014 Due in 2015 Years From Years From Paid in 2014 Paid in 2014 Due in 2015 Tax Other From Tax From Other Additions in Additions in From Tax Tax Other From Tax From Other From Tax IncrementSourcesIncrementSourcesPrior Years2014OutstandingIncrementIncrementSourcesIncrementSourcesIncrement #######$ 0###### 1 #######$ 0###### 2 #######$ 0###### 3 #######$ 0###### 4 #######$ 0###### 5 #######$ 0###### 6 #######$ 0###### 7 #######$ 0###### 8 #######$ 0###### 9 #######$ 0###### 10 #######$ 0###### 11 #######$ 0###### 12 #######$ 0###### 13 #######$ 0###### 14 #######$ 0###### 15 #######$ 0###### 16 #######$ 0###### 17 #######$ 0###### 18 #######$ 0###### 19 #######$ 0###### 20 #N/A DebtPage 5 of 19 18049_2014_Dist TIF 2-2Printed 5/28/ Saint Joseph - TIF 2-2 St. Joseph Meat Market - 2014 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet Interfund Loans Interfund Loans 1Does/Did this district have interfund loans outstanding after 2009?Yes retired before 2010 Did this district pay interest on interfund loans that were ? 2No Interfund Loans AB 12/31/201312/31/2014 3Due to other TIF districts$ 0$ 0 4Due to non-tax increment accounts$ 500$ 500 5Due from other TIF districts$ 0$ 0 6Due from non-tax increment accounts$ 0$ 0 Principal and Interest ABC Interfund Loans Retired Before 2010Prior Years2014 Amount 7Principal payments paid from this district$ 0$ 0 8Interest payments paid from this district$ 0$ 0$ 0 Interfund LoansPage 6 of 19 18049_2014_Dist TIF 2-2Printed 5/28/ Saint Joseph - TIF 2-2 St. Joseph Meat Market - 2014 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 9ABCDEFG Name of Second Party (District or Non-Tax Increment Account) Type Resolution Final Authorized DistrictNon-Tax Increment AccountDateMaturity DateInterest Rate Range Amount DEconomic Development Authority04/21/201112/31/20210.000-3.250%$ 10,000 1 -% 2 -% 3 -% 4 -% 5 -% 6 -% 7 -% 8 -% 9 -% 10 -% 11 -% 12 -% 13 -% 14 -% 15 -% 16 -% 17 -% 18 -% 19 -% 20 If you need to report additional interfund loans, please contact the OSA. Comments (500 Character limit): 10 Interfund LoansPage 7 of 19 18049_2014_Dist TIF 2-2Printed 5/28/ Saint Joseph - TIF 2-2 St. Joseph Meat Market - 2014 Annual Reporting Form HIJKLMNOPQR PrincipalInterest Prior Years 2014 Additions/Additions/Paid/Paid/ Draw Draw Paid/Rec'd in Paid/Rec'd in Reductions Reductions Rec'd in Rec'd in AmountAmountPrior Years2014Prior Yearsin 2014OutstandingDue in 2015Prior Years2014Due in 2015 $ 500$ 0$ 0$ 0$ 0$ 0$ 500$ 0$ 0$ 0$ 0 1 $ 0 2 $ 0 3 $ 0 4 $ 0 5 $ 0 6 $ 0 7 $ 0 8 $ 0 9 $ 0 10 $ 0 11 $ 0 12 $ 0 13 $ 0 14 $ 0 15 $ 0 16 $ 0 17 $ 0 18 $ 0 19 $ 0 20 Interfund LoansPage 8 of 19 18049_2014_Dist TIF 2-2Printed 5/28/ Saint Joseph - TIF 2-2 St. Joseph Meat Market - 2014 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance SheetEICADSComments PAYG Pay-As-You-Go (PAYG) Financing 1Are there any PAYG obligations for this district?Yes For the section below, report only the documented PAYG costs to be repaid with tax increment. ABCDEFG St. Joseph Meat Total All PAYGPAYG 2 PAYG 3 PAYG 4 Through PAYG 5 PAYG 6 Market Through Through 2014Through 2014Through 20142014Through 2014Through 2014 2014 DOCUMENTED PAYG COSTS 2Land/building acquisition$ 0$ 0 3Site improvements/preparation costs$ 50,000$ 50,000 4Utilities$ 0$ 0 5Other public improvements$ 11,000$ 11,000 6Construction of affordable housing$ 0$ 0 7Small city authorized costs, if not already included above$ 0$ 0 Temporary economic development (jobs) \[Minn. Stat. § 8469.176, subd. 4c (d)\]$ 0$ 0 Total documented PAYG costs to be paid with tax 9increment$ 61,000$ 61,000$ 0$ 0$ 0$ 0$ 0 Principal and Interest 12/31/201312/31/2014 10Outstanding obligation contingent upon available tax increment$ 60,683$ 59,961 Prior Years2014 Amount 11Principal payments$ 317$ 722 12Interest payments$ 3,221$ 3,104 PAYGPage 9 of 19 18049_2014_Dist TIF 2-2Printed 5/28/ HIJK PAYG 7 PAYG 8 Through PAYG 9 PAYG 10 DOCUMENTED Through 20142014Through 2014Through 2014 PAYG COSTS Land/Bldg Acq2 Site Impv/Prep3 Utilities4 Other Pub Impr5 Affordable Hsg6 Small City7 Temp Jobs Bill8 $ 0$ 0$ 0$ 0TOTAL9 PAYGPage 10 of 19 18049_2014_Dist TIF 2-2Printed 5/28/ Saint Joseph - TIF 2-2 St. Joseph Meat Market - 2014 Annual Reporting Form A 13BCDEF Final Contract / Documented Name on Development AgreementIssue DateMaturity DateInterest Rate RangeNote AmountAmount St. Joseph Meat Market04/21/201102/01/20223.250-3.250%$ 100,000$ 61,000 1 -%$ 0 2 -%$ 0 3 -%$ 0 4 -%$ 0 5 -%$ 0 6 -%$ 0 7 -%$ 0 8 -%$ 0 9 -%$ 0 10 Comments (500 Character limit): Previous report did not allocate interest from the loan payment. I corrected for the 2014 reports. The rate of interest is 14 the prime rate as announced by US Bank National Association in St. Paul, MN. The interest rate listed is the current prime rate at 12/31/14. (no changes since 2008) PAYGPage 11 of 19 18049_2014_Dist TIF 2-2Printed 5/28/ Saint Joseph - TIF 2-2 St. Joseph Meat Market - 2014 Annual Reporting Form GHIJKLMNO PrincipalInterest Additions/Additions/ Paid in Prior Reductions Reductions Paid in Prior YearsPaid in 2014Prior Yearsin 2014OutstandingDue in 2015YearsPaid in 2014Due in 2015 $ 317$ 722$ 0$ 0$ 59,961$ 750$ 3,221$ 3,104$ 3,005 11 $ 0 22 $ 0 33 $ 0 44 $ 0 55 $ 0 66 $ 0 77 $ 0 88 $ 0 99 $ 0 1010 PAYGPage 12 of 19 Comments 18049_2014_Dist TIF 2-2Printed 5/28/ Saint Joseph - TIF 2-2 St. Joseph Meat Market - 2014 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance SheetEICADS Project Costs Project Costs ABC Total Through Prior Years2014 Amount2014 PROJECT COSTS (OTHER THAN PAYG) 1Land/building acquisition#$ 0#$ 0#$ 0 2Site improvements/preparation costs#$ 0#$ 0#$ 0 3Utilities#$ 0#$ 0#$ 0 4Other public improvements#$ 0#$ 0#$ 0 5Construction of affordable housing#$ 0#$ 0#$ 0 6Small city authorized costs, if not already included above#$ 0#$ 0#$ 0 Temporary economic development (Jobs) 7 \[Minn. Stat. § 469.176, subd. 4c (d)\]#$ 0#$ 0#$ 0 8Authority administrative costs#$ 652#$ 139#$ 791 9County administrative costs#$ 0#$ 0#$ 0 10Subtract prior years' costs paid with public funds other than tax increment#$ 0#$ 0 Total Project Costs (Other than PAYG) Paid or Financed with Tax Increment and/or TIF Bond Proceeds 11#$ 652#$ 139#$ 791 PROJECT COSTS (PAYG) 12Land/building acquisition$ 0 13Site improvements/preparation costs$ 50,000 14Utilities$ 0 15Other public improvements$ 11,000 16Construction of affordable housing$ 0 17Small city authorized costs, if not already included above$ 0 Temporary economic development (Jobs) (Minn. Stat. § 469.176, subd. 4c (d) 18(2010))$ 0 Total Documented Project Costs (PAYG) to be Paid with Tax Increment 19$ 61,000 TOTAL PROJECT COSTS PAID OR TO BE PAID WITH TAX INCREMENT 20$ 61,791 AND/OR 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 21including administrative costs#$ 652#$ 139#$ 791 Project CostsPage 13 of 19 EIC 18049_2014_Dist TIF 2-2Printed 5/28/ Saint Joseph - TIF 2-2 St. Joseph Meat Market - 2014 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet Transfers Transfers 1Are there any transfers of tax increment to or from the TIF district?No ABCD Total Through 2014 District NamePrior Years2014 Amount TRANSFERS IN 2 Transfers of tax increment from other TIF districts ####$ 0 1 ####$ 0 2 ####$ 0 3 ####$ 0 4 ####$ 0 5 ####$ 0 6 ####$ 0 7 ####$ 0 8 ####$ 0 9 ####$ 0 10 ####$ 0 11 ####$ 0 12 ####$ 0 13 ####$ 0 14 ####$ 0 15 ####$ 0 16 ####$ 0 17 ####$ 0 18 ####$ 0 19 ####$ 0 20 Total Transfers In 3#$ 0#$ 0#$ 0 TRANSFERS OUT 4 Transfers of tax increment to other TIF districts ####$ 0 1 ####$ 0 2 ####$ 0 3 ####$ 0 4 ####$ 0 5 ####$ 0 6 ####$ 0 7 ####$ 0 8 ####$ 0 9 ####$ 0 10 ####$ 0 11 ####$ 0 12 ####$ 0 13 ####$ 0 14 ####$ 0 15 ####$ 0 16 ####$ 0 17 ####$ 0 18 ####$ 0 19 ####$ 0 20 Total Transfers Out 5#$ 0#$ 0#$ 0 TransfersPage 14 of 19 18049_2014_Dist TIF 2-2Printed 5/28/ Saint Joseph - TIF 2-2 St. Joseph Meat Market - 2014 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersBalance SheetEICADS Rev & Exp Rev & Exp Revenues, Expenditures, and Changes in Tax Increment Balance ABC Total Through Prior Years2014 Amount2014 REVENUES 1Tax increment revenues distributed from the county#$ 3,725#$ 4,027#$ 7,752 2Interest and investment earnings#$ 0#$ 2#$ 2 3Market value homestead credit#$ 0#$ 0#$ 0 4Loan/advance repayments#$ 0#$ 0#$ 0 5Lease proceeds#$ 0#$ 0#$ 0 6Repayments or return of tax increment per agreements#$ 0#$ 0#$ 0 Total Revenues 7#$ 3,725#$ 4,029#$ 7,754 EXPENDITURES 8Project costs (other than PAYG)#$ 652#$ 139#$ 791 9Tax increment returned to the county#$ 0#$ 0#$ 0 Bond Payments Principal 10Payments for PAYG note or contract#$ 317#$ 722#$ 1,039 11Payments on all other bonds#$ 0#$ 0#$ 0 Interest 12Interest on PAYG#$ 3,221#$ 3,104#$ 6,325 13Interest on all other bonds#$ 0#$ 0#$ 0 14Interest on interfund loans#$ 0#$ 0#$ 0 Total Expenditures 15#$ 4,190#$ 3,965#$ 8,155 Revenues over (under) expenditures 16#$ (465)#$ 64#$ (401) OTHER SOURCES AND USES 17Transfers in#$ 0#$ 0#$ 0 18Transfers out#$ 0#$ 0#$ 0 19Bonds issued (other than refunding bonds)#$ 0#$ 0#$ 0 20Refunding bonds issued#$ 0#$ 0#$ 0 21Bonds refunded#$ 0#$ 0#$ 0 22Bond discount#$ 0#$ 0#$ 0 23Bond premium#$ 0#$ 0#$ 0 24Sales of property#$ 0#$ 0#$ 0 Total Other Sources and Uses 25#$ 0#$ 0#$ 0 Net change in tax increment balances 26#$ (465)#$ 64#$ (401) 27Tax Increment balance (beginning 01/01/2014)#$ (465) 28Tax Increment balance (ending 12/31/2014)#$ (401) Rev & ExpPage 15 of 19 18049_2014_Dist TIF 2-2Printed 5/28/ Saint Joseph - TIF 2-2 St. Joseph Meat Market - 2014 Annual Reporting Form HomeOverviewOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet Balance Sheet Balance Sheet AB 12/31/201312/31/2014 ASSETS 1Cash#$ 35#$ 117 2Investments#$ 0#$ 0 3Due from other TIF districts#$ 0#$ 0 4Due from non-tax increment accounts#$ 0#$ 0 5Interest receivable#$ 0#$ 0 6Taxes receivable#$ 0#$ 0 7Other receivables#$ 0#$ 0 8Property held for resale#$ 0#$ 0 Total Assets 9#$ 35#$ 117 LIABILITIES 10Due to other TIF districts#$ 0#$ 0 11Due to non-tax increment accounts#$ 500#$ 500 12Accounts payable#$ 0#$ 18 13Unearned revenue#$ 0#$ 0 Total Liabilities 14#$ 500#$ 518 15Deferred Inflows#$ 0#$ 0 Total Liabilities and Deferred Inflows 16#$ 500#$ 518 TAX INCREMENT BALANCE Total Tax Increment Balance 17#$ (465)#$ (401) Total Liabilities and Tax Increment Balance 18#$ 35#$ 117 Balance SheetPage 16 of 19 18049_2014_Dist TIF 2-2Printed 5/28/ Saint Joseph - TIF 2-2 St. Joseph Meat Market - 2014 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersTransfersRev & ExpBalance Sheet EIC 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 or more, the excess increment calculation is not required to be reported. Excess increment calculation reporting exemption: Minn. Stat. § 469.176, subd. 2 (g). 1Tax increment generated by the district since certification$ 7,754 2Multiply the above amount by 1.2$ 9,305 3Total costs authorized by the TIF plan to be paid or financed with tax increment$ 86,589 NOT REQUIRED 4Based on the calculation above, the Excess Increment Calculation Report is: Excess Increment Calculation Report 5Total tax increment generated by the district since certification$ 7,754 6Subtract total tax increment returned to the county$ 0 7Subtotal A$ 7,754 8Total costs authorized by the TIF plan to be paid or financed with tax increment$ 86,589 9Subtract authorized costs that have been or will be paid from sources other than tax increment 10Subtract principal and interest payments due after the year ended December 31, 2014 Add transfers of increment made prior to December 31, 2014, used to pay for Minn. Stat. § 469.1763 deficits 11 12Subtotal B$ 86,589 13Excess increment (Subtract subtotal B from subtotal A)$ (78,835) Subtract any of the authorized uses of excess increment listed below: 14Prepayment of any outstanding bonds 15Discharge of the pledge of tax increment for any outstanding bonds 16Payment into an escrow account dedicated to the payment of any outstanding bond 17Excess increment after subtractions of authorized uses*$ (78,835) *Excess increments after subtractions must be returned to the county for distribution to the city, county, and school districts in which the TIF district is located within nine months after the end of the year (by September 30). EICPage 17 of 19 18049_2014_Dist TIF 2-2Printed 5/ Saint Joseph - TIF 2-2 St. Joseph Meat Market - 2014 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExprBalance Sheet ADS 2014 Annual Disclosure Statement Saint Joseph 1Name of Development Authority: 2Name of Municipality:Saint Joseph 3St. Joseph Newsleader06/05/2015 (Name of the Newspaper)(Date of Publication) The following information represents the annual disclosure of tax increment districts for the year ended December 31, 2014. TIF 2-2 St. Joseph Meat Market 4Current net tax capacity$ 10,826 5Original net tax capacity$ 7,626 6Captured net tax capacity$ 3,200 7Principal and interest payments due in 2015$ 3,755 8Tax increment received in 2014$ 4,029 9Tax increment expended in 2014$ 3,965 10Month and year of first tax increment receipt07/2013 11Date of required decertification12/31/2021 The total increased property taxes to be paid from outside the district if fiscal disparities Option A applies* 12$ 0 * 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 decrease in tax increment financing district revenue or a tax increase for other properties in the municipality depending on whether the tax increment financing district contributes its share of the growth. Amounts displayed here indicate that the district did not contribute its growth in commercial- industrial property tax values and represent the resulting increase in taxes on other properties in the City for taxes payable in 2014. Additional information regarding this district may be obtained from: Name: 13Lori Bartlett Address: 14PO Box 668 City: 15St. Joseph State: 16MN Zip Code: 1756374 Phone: 18(320) 363-7201Enter as 6512962551. Email: 19lbartlett@cityofstjoseph.comEnter 'none' if no email address. ADSPage 18 of 19 18049_2014_Dist TIF 2-2Printed 5/28/ Saint Joseph - TIF 2-2 St. Joseph Meat Market - 2014 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet Comments Comments Please enter any additional comments regarding this district (500 character limit on Comments): 1 CommentsPage 19 of 19 12951_2014_Dist TIF 1-4Printed 5/28/ Saint Joseph - TIF 1-4 St Joe Development, LLC - 2014 Annual Reporting Form Home OverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet Home Home The Annual Reporting Form is required for each TIF district that must report in 2015 for the reporting year 2014 and is due by August 1, 2015. Sections of this Annual Reporting Form may be pre-populated with previously reported information. This Annual Reporting Form is interactive, a line on one worksheet may carry over to another sheet. These cells are shaded yellow. Some columns automatically calculate a total. These cells are shaded blue. The information in the shaded cells cannot be changed directly but the information can be changed on the original worksheet. Please become familiar with the forms and review each line for accuracy. What do the red messages in the form indicate? The red messages in the right margin indicate that data must be entered or corrected before the reporting form can be submitted. Once the data has been entered or corrected, the red message will no longer be displayed. Tab NameRed Messages Remaining Overview 0 District Info 0 Debt 0 Interfund Loans 0 PAYG 0 Project Costs 0 Transfers 0 Rev & Exp 0 Balance Sheet 0 EIC 0 ADS 0 Comments 0 Cut and Paste Errors 0 TOTAL COUNT0 Have you read the instructions? Detailed instructions on how to complete the Annual Reporting Form are available by clicking the link below. CLICK HERE for detailed reporting instructions Have you read the TIF Statements of Position? The Office of the State Auditor (OSA) prepares Statements of Position to provide an educational resource to local governments, auditors and the public. Statements of Position are not legal advice and should not be relied upon in lieu of legal advice. CLICK HERE for a list of all TIF Statements of Position Have you saved your files? Use the SAVE AS command and choose the location to save your files on your computer. Otherwise, they will be saved to a temporary location, making them difficult to locate when you are ready to upload. Are your calculations too slow? If the calculations are too slow, change the calculation options from automatic to manual. For information regarding how to change the calculation process, please see the following link to Microsoft. Home 12951_2014_Dist TIF 1-4Printed 5/28/ CLICK HERE for Microsoft Change formula recalculation, iteration, or precision "Change when a worksheet or workbook recalculates" Do you need additional forms? A TIF District Annual Reporting Form is required to be submitted for a TIF district beginning with the year the district is certified. If you have a new TIF district that needs to be reported for 2014, please email the OSA as soon as possible. For new TIF districts, you must complete a TIF Plan Collection Form through SAFES (State Auditor's Form Entry System) before a 2014 District Annual Form can be generated. If you have a new pooled debt issue to be reported for 2014, please email the OSA. TIF@osa.state.mn.us Is this TIF District recently decertified? If a district has recently been decertified, please print and complete a Confirmation of Decertification Form from our website. Complete and sign Part A, and send the form to your County Auditor. He or she will verify the information and sign Part B. It is the authority's responsibility to make sure the OSA receives a fully completed decertification form. Confirmation of Decertification Form If the district is decertified before the maximum duration limit identified in the TIF Act is reached, please submit a copy of the city council's resolution to decertify the district in addition to the Confirmation of Decertification. Do you have additional information to share with our office? A comment box is available at the end of the reporting form. Please use the comment box as needed to share information that may be pertinent to the reporting form. If your comment exceeds the space available on the reporting form, you may email the OSA to share the information. TIF@osa.state.mn.us Home 12951_2014_Dist TIF 1-4Printed 5/ Saint Joseph - TIF 1-4 St Joe Development, LLC - 2014 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet Overview Tax Increment Financing Annual Reporting Form for the Year Ended December 31, 2014 TIF District Name: TIF 1-4 St Joe Development, LLC 1 Development Authority: 2Saint Joseph District Type: 3Economic Development County Where TIF District is Located: 4Stearns County Identification Number, if any: 5110 Is the small city exception being used? 6No 7Is this TIF district in a fiscal disparities area?No 8If yes, under what option?Not Applicable Original TIF Plan Information 9TIF Plan Approval Date:06/27/2002 10Certification Request Date:07/31/2002 11Certification Date:09/09/2003 District Duration 12Month and year of first receipt of tax increment (actual or anticipated):05/2004 13Required Decertification Date:12/31/2012 TIF Plan Estimates - Original Plan06/27/2002 06/27/2002 ESTIMATED TAX INCREMENT REVENUES (from tax increment generated by the district) 14Tax increment revenues distributed from the county$ 643,000 15Interest and investment earnings$ 0 16Sales/lease proceeds$ 0 17Market value homestead credit$ 0 Total Estimated Tax Increment Revenues$ 643,000 18 ESTIMATED PROJECT/FINANCING COSTS (to be paid or financed with tax increment) Project costs 19Land/building acquisition$ 300,000 20Site improvements/preparation costs$ 0 21Utilities$ 0 22Other public improvements$ 104,400 23 Construction of affordable housing$ 0 24Small city authorized costs, if not already included above$ 0 25Administrative costs$ 66,600 Estimated Tax Increment Project Costs$ 471,000 26 Estimated financing costs 27Interest expense$ 172,000 Total Estimated Project/Financing Costs to be Paid From Tax Increment$ 643,000 28 06/27/2002 ESTIMATED FINANCING 29Total amount of bonds to be issued$ 643,000 OverviewPage 1 of 19 12951_2014_Dist TIF 1-4Printed 5/28/ Saint Joseph - TIF 1-4 St Joe Development, LLC - 2014 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet District Info District Information Special Legislation 1No Was any special legislation enacted for this district? 2ABCD YearChapterArticleSection 1 2 3 4 5 6 7 Captured Tax Capacity 3(Only select "Not Applicable" if Decertified or Entirely Tax Exempt) Not Applicable 2014 Amount 4Current net tax capacity+ 5Original net tax capacity- Captured net tax capacity $ 0 (If negative, show $0) 6= 7Fiscal disparity deduction, if applicable (option B)- 8Captured net tax capacity shared with other taxing jurisdictions- Captured net tax capacity retained for tax increment financing (If negative, show $0) $ 0 9= Fiscal Disparities Enter the amount of total increased property taxes to be paid from outside the TIF district from line 33 of the Department of Revenue's fiscal disparity option A calculation form. 10 Five-Year Rule 11Did one or more of the following actions occur before9/9/2008?No If yes, select "Yes" at the appropriate actions: 12Revenues were paid to a third partyNo 13Bonds were issued and sold to a third partyNo Binding contracts with a third party were entered into and the revenues will be spent under the contractual obligation 14No 15Activity costs were paid for and revenues are spent to reimburse a party for payment of the activity costsNo Expenditures were made for housing or public infrastructure purposes as permitted by Minn. Stat. § 469.1763, subd. 3 (a) (5) 16No Statutory County Correction of Error(s) Has the authority resolved with the county auditor any error qualifying under Minn. Stat. § 469.177, subd. 13, during the year ended December 31, 2014? (If no error occurred, select "No".) 17No Decertification 18Yes Has this district been decertified? Actual Decertification Date: 1912/31/2012 District InfoPage 2 of 19 12951_2014_Dist TIF 1-4Printed 5/28/ Saint Joseph - TIF 1-4 St Joe Development, LLC - 2014 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance SheetEICADS Debt 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 retired before 2010 Did this district have general obligation bonds, revenue bonds, or other debt that was ? 2 (Do not consider Pay-As-You-Go (PAYG) or interfund loans.)No Principal and Interest ABC Bonds Retired Before 2010All Prior Years2014 Amount $ 0 3Bonds issued (other than refunding bonds)#$ 0$ 0 $ 0 4Refunding bonds issued#$ 0$ 0 $ 0 5Principal payments from tax increment#$ 0$ 0 $ 0 6Interest payments from tax increment#$ 0$ 0 DebtPage 3 of 19 12951_2014_Dist TIF 1-4Printed 5/28/ Saint Joseph - TIF 1-4 St Joe Development, LLC - 2014 Annual Reporting Form Key To Drop-Down Menu for "Type" A- General Obligation Bonds B- Revenue Bonds C- Other Debt 7ABCDEFGHIJ Refunding Refunded Amount Pooled Type Final Issue Refunded (if NameIssue DateMaturity DateInterest Rate RangeAmountrefunded) ########-%## 1 ########-%## 2 ########-%## 3 ########-%## 4 ########-%## 5 ########-%## 6 ########-%## 7 ########-%## 8 ########-%## 9 ########-%## 10 ########-%## 11 ########-%## 12 ########-%## 13 ########-%## 14 ########-%## 15 ########-%## 16 ########-%## 17 ########-%## 18 ########-%## 19 ########-%## 20 Do not consider PAYG and interfund loans. If you need to report additional bonds, please contact the OSA. Comments (500 character limit): #N/A 8 DebtPage 4 of 19 12951_2014_Dist TIF 1-4Printed 5/28/ Saint Joseph - TIF 1-4 St Joe Development, LLC - 2014 Annual Reporting Form KLMNOPQRSTUVW PrincipalInterest Paid in Prior Paid in Prior Paid in Prior Paid in Prior Years From Years From Paid in 2014 Paid in 2014 Due in 2015 Years From Years From Paid in 2014 Paid in 2014 Due in 2015 Tax Other From Tax From Other Additions in Additions in From Tax Tax Other From Tax From Other From Tax IncrementSourcesIncrementSourcesPrior Years2014OutstandingIncrementIncrementSourcesIncrementSourcesIncrement #######$ 0###### 1 #######$ 0###### 2 #######$ 0###### 3 #######$ 0###### 4 #######$ 0###### 5 #######$ 0###### 6 #######$ 0###### 7 #######$ 0###### 8 #######$ 0###### 9 #######$ 0###### 10 #######$ 0###### 11 #######$ 0###### 12 #######$ 0###### 13 #######$ 0###### 14 #######$ 0###### 15 #######$ 0###### 16 #######$ 0###### 17 #######$ 0###### 18 #######$ 0###### 19 #######$ 0###### 20 #N/A DebtPage 5 of 19 12951_2014_Dist TIF 1-4Printed 5/28/ Saint Joseph - TIF 1-4 St Joe Development, LLC - 2014 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet Interfund Loans Interfund Loans 1Does/Did this district have interfund loans outstanding after 2009?Yes retired before 2010 Did this district pay interest on interfund loans that were ? 2No Interfund Loans AB 12/31/201312/31/2014 3Due to other TIF districts$ 0$ 0 4Due to non-tax increment accounts$ 0$ 0 5Due from other TIF districts$ 0$ 0 6Due from non-tax increment accounts$ 0$ 0 Principal and Interest ABC Interfund Loans Retired Before 2010Prior Years2014 Amount 7Principal payments paid from this district$ 2,000$ 0 8Interest payments paid from this district$ 0$ 0$ 0 Interfund LoansPage 6 of 19 12951_2014_Dist TIF 1-4Printed 5/28/ Saint Joseph - TIF 1-4 St Joe Development, LLC - 2014 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 9ABCDEFG Name of Second Party (District or Non-Tax Increment Account) Type Resolution Final Authorized DistrictNon-Tax Increment AccountDateMaturity DateInterest Rate Range Amount DEDA Fund04/21/201112/31/20120.000-0.000%$ 643,000 1 -% 2 -% 3 -% 4 -% 5 -% 6 -% 7 -% 8 -% 9 -% 10 -% 11 -% 12 -% 13 -% 14 -% 15 -% 16 -% 17 -% 18 -% 19 -% 20 If you need to report additional interfund loans, please contact the OSA. Comments (500 Character limit): 10 Interfund LoansPage 7 of 19 12951_2014_Dist TIF 1-4Printed 5/28/ Saint Joseph - TIF 1-4 St Joe Development, LLC - 2014 Annual Reporting Form HIJKLMNOPQR PrincipalInterest Prior Years 2014 Additions/Additions/Paid/Paid/ Draw Draw Paid/Rec'd in Paid/Rec'd in Reductions Reductions Rec'd in Rec'd in AmountAmountPrior Years2014Prior Yearsin 2014OutstandingDue in 2015Prior Years2014Due in 2015 $ 2,000$ 0$ 2,000$ 0$ 0$ 0$ 0$ 0$ 0$ 0$ 0 1 $ 0 2 $ 0 3 $ 0 4 $ 0 5 $ 0 6 $ 0 7 $ 0 8 $ 0 9 $ 0 10 $ 0 11 $ 0 12 $ 0 13 $ 0 14 $ 0 15 $ 0 16 $ 0 17 $ 0 18 $ 0 19 $ 0 20 Interfund LoansPage 8 of 19 12951_2014_Dist TIF 1-4Printed 5/28/ Saint Joseph - TIF 1-4 St Joe Development, LLC - 2014 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance SheetEICADSComments PAYG Pay-As-You-Go (PAYG) Financing 1Are there any PAYG obligations for this district?Yes For the section below, report only the documented PAYG costs to be repaid with tax increment. ABCDEFG St. Joe Total All PAYGPAYG 2 PAYG 3 PAYG 4 Through PAYG 5 PAYG 6 Development, Through 2014Through 2014Through 20142014Through 2014Through 2014 LLC Through DOCUMENTED PAYG COSTS 2Land/building acquisition$ 530,000$ 530,000 3Site improvements/preparation costs$ 0$ 0 4Utilities$ 0$ 0 5Other public improvements$ 46,400$ 46,400 6Construction of affordable housing$ 0$ 0 7Small city authorized costs, if not already included above$ 0$ 0 Temporary economic development (jobs) \[Minn. Stat. § 8469.176, subd. 4c (d)\]$ 0$ 0 Total documented PAYG costs to be paid with tax 9increment$ 576,400$ 576,400$ 0$ 0$ 0$ 0$ 0 Principal and Interest 12/31/201312/31/2014 10Outstanding obligation contingent upon available tax increment$ 53,381$ 53,381 Prior Years2014 Amount 11Principal payments$ 456,419$ 0 12Interest payments$ 0$ 0 PAYGPage 9 of 19 12951_2014_Dist TIF 1-4Printed 5/28/ HIJK PAYG 7 PAYG 8 Through PAYG 9 PAYG 10 DOCUMENTED Through 20142014Through 2014Through 2014 PAYG COSTS Land/Bldg Acq2 Site Impv/Prep3 Utilities4 Other Pub Impr5 Affordable Hsg6 Small City7 Temp Jobs Bill8 $ 0$ 0$ 0$ 0TOTAL9 PAYGPage 10 of 19 12951_2014_Dist TIF 1-4Printed 5/28/ Saint Joseph - TIF 1-4 St Joe Development, LLC - 2014 Annual Reporting Form A 13BCDEF Final Contract / Documented Name on Development AgreementIssue DateMaturity DateInterest Rate RangeNote AmountAmount St. Joe Development, LLC06/27/200202/01/20130.000-0.000%$ 643,000$ 576,400 1 -%$ 0 2 -%$ 0 3 -%$ 0 4 -%$ 0 5 -%$ 0 6 -%$ 0 7 -%$ 0 8 -%$ 0 9 -%$ 0 10 Comments (500 Character limit): Deferred loan created when State authorized excess TIF in a district be used for another project in 2011. TIF1-4 14 provided a $20,000 deferred loan to Collegville Communities for restaurant equipment; and a $27,000 deferred loan to the St. Joseph Meat Market for expansion. 1/10th of the interest free loans is forgiven each year up to 10 years if the restaurant and meat market continue to operate. The deferred loans expire 9/1/21 if the businesses meet the deferred loan for ten years. PAYGPage 11 of 19 12951_2014_Dist TIF 1-4Printed 5/28/ Saint Joseph - TIF 1-4 St Joe Development, LLC - 2014 Annual Reporting Form GHIJKLMNO PrincipalInterest Additions/Additions/ Paid in Prior Reductions Reductions Paid in Prior YearsPaid in 2014Prior Yearsin 2014OutstandingDue in 2015YearsPaid in 2014Due in 2015 $ 456,419$ 0$ (66,600)$ 0$ 53,381$ 0$ 0$ 0$ 0 11 $ 0 22 $ 0 33 $ 0 44 $ 0 55 $ 0 66 $ 0 77 $ 0 88 $ 0 99 $ 0 1010 PAYGPage 12 of 19 Comments 12951_2014_Dist TIF 1-4Printed 5/28/ Saint Joseph - TIF 1-4 St Joe Development, LLC - 2014 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance SheetEICADS Project Costs Project Costs ABC Total Through Prior Years2014 Amount2014 PROJECT COSTS (OTHER THAN PAYG) 1Land/building acquisition#$ 0#$ 0#$ 0 2Site improvements/preparation costs#$ 0#$ 0#$ 0 3Utilities#$ 0#$ 0#$ 0 4Other public improvements#$ 0#$ 0#$ 0 5Construction of affordable housing#$ 0#$ 0#$ 0 6Small city authorized costs, if not already included above#$ 0#$ 0#$ 0 Temporary economic development (Jobs) 7 \[Minn. Stat. § 469.176, subd. 4c (d)\]#$ 50,371#$ 0#$ 50,371 8Authority administrative costs#$ 40,595#$ 0#$ 40,595 9County administrative costs#$ 0#$ 0#$ 0 10Subtract prior years' costs paid with public funds other than tax increment#$ 0#$ 0 Total Project Costs (Other than PAYG) Paid or Financed with Tax Increment and/or TIF Bond Proceeds 11#$ 90,966#$ 0#$ 90,966 PROJECT COSTS (PAYG) 12Land/building acquisition$ 530,000 13Site improvements/preparation costs$ 0 14Utilities$ 0 15Other public improvements$ 46,400 16Construction of affordable housing$ 0 17Small city authorized costs, if not already included above$ 0 Temporary economic development (Jobs) (Minn. Stat. § 469.176, subd. 4c (d) 18(2010))$ 0 Total Documented Project Costs (PAYG) to be Paid with Tax Increment 19$ 576,400 TOTAL PROJECT COSTS PAID OR TO BE PAID WITH TAX INCREMENT 20$ 667,366 AND/OR 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 21including administrative costs#$ 0#$ 0#$ 0 Project CostsPage 13 of 19 EIC 12951_2014_Dist TIF 1-4Printed 5/28/ Saint Joseph - TIF 1-4 St Joe Development, LLC - 2014 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet Transfers Transfers 1Are there any transfers of tax increment to or from the TIF district?No ABCD Total Through 2014 District NamePrior Years2014 Amount TRANSFERS IN 2 Transfers of tax increment from other TIF districts ####$ 0 1 ####$ 0 2 ####$ 0 3 ####$ 0 4 ####$ 0 5 ####$ 0 6 ####$ 0 7 ####$ 0 8 ####$ 0 9 ####$ 0 10 ####$ 0 11 ####$ 0 12 ####$ 0 13 ####$ 0 14 ####$ 0 15 ####$ 0 16 ####$ 0 17 ####$ 0 18 ####$ 0 19 ####$ 0 20 Total Transfers In 3#$ 0#$ 0#$ 0 TRANSFERS OUT 4 Transfers of tax increment to other TIF districts ####$ 0 1 ####$ 0 2 ####$ 0 3 ####$ 0 4 ####$ 0 5 ####$ 0 6 ####$ 0 7 ####$ 0 8 ####$ 0 9 ####$ 0 10 ####$ 0 11 ####$ 0 12 ####$ 0 13 ####$ 0 14 ####$ 0 15 ####$ 0 16 ####$ 0 17 ####$ 0 18 ####$ 0 19 ####$ 0 20 Total Transfers Out 5#$ 0#$ 0#$ 0 TransfersPage 14 of 19 12951_2014_Dist TIF 1-4Printed 5/28/ Saint Joseph - TIF 1-4 St Joe Development, LLC - 2014 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersBalance SheetEICADS Rev & Exp Rev & Exp Revenues, Expenditures, and Changes in Tax Increment Balance ABC Total Through Prior Years2014 Amount2014 REVENUES 1Tax increment revenues distributed from the county#$ 554,445#$ 0#$ 554,445 2Interest and investment earnings#$ 5,053#$ 0#$ 5,053 3Market value homestead credit#$ 0#$ 0#$ 0 4Loan/advance repayments#$ 0#$ 0#$ 0 5Lease proceeds#$ 0#$ 0#$ 0 6Repayments or return of tax increment per agreements#$ 12,200#$ 0#$ 12,200 Total Revenues 7#$ 571,698#$ 0#$ 571,698 EXPENDITURES 8Project costs (other than PAYG)#$ 90,966#$ 0#$ 90,966 9Tax increment returned to the county#$ 24,313#$ 0#$ 24,313 Bond Payments Principal 10Payments for PAYG note or contract#$ 456,419#$ 0#$ 456,419 11Payments on all other bonds#$ 0#$ 0#$ 0 Interest 12Interest on PAYG#$ 0#$ 0#$ 0 13Interest on all other bonds#$ 0#$ 0#$ 0 14Interest on interfund loans#$ 0#$ 0#$ 0 Total Expenditures 15#$ 571,698#$ 0#$ 571,698 Revenues over (under) expenditures 16#$ 0#$ 0#$ 0 OTHER SOURCES AND USES 17Transfers in#$ 0#$ 0#$ 0 18Transfers out#$ 0#$ 0#$ 0 19Bonds issued (other than refunding bonds)#$ 0#$ 0#$ 0 20Refunding bonds issued#$ 0#$ 0#$ 0 21Bonds refunded#$ 0#$ 0#$ 0 22Bond discount#$ 0#$ 0#$ 0 23Bond premium#$ 0#$ 0#$ 0 24Sales of property#$ 0#$ 0#$ 0 Total Other Sources and Uses 25#$ 0#$ 0#$ 0 Net change in tax increment balances 26#$ 0#$ 0#$ 0 27Tax Increment balance (beginning 01/01/2014)#$ 0 28Tax Increment balance (ending 12/31/2014)#$ 0 Rev & ExpPage 15 of 19 12951_2014_Dist TIF 1-4Printed 5/28/ Saint Joseph - TIF 1-4 St Joe Development, LLC - 2014 Annual Reporting Form HomeOverviewOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet Balance Sheet Balance Sheet AB 12/31/201312/31/2014 ASSETS 1Cash#$ 0#$ 0 2Investments#$ 0#$ 0 3Due from other TIF districts#$ 0#$ 0 4Due from non-tax increment accounts#$ 0#$ 0 5Interest receivable#$ 0#$ 0 6Taxes receivable#$ 0#$ 0 7Other receivables#$ 0#$ 0 8Property held for resale#$ 0#$ 0 Total Assets 9#$ 0#$ 0 LIABILITIES 10Due to other TIF districts#$ 0#$ 0 11Due to non-tax increment accounts#$ 0#$ 0 12Accounts payable#$ 0#$ 0 13Unearned revenue#$ 0#$ 0 Total Liabilities 14#$ 0#$ 0 15Deferred Inflows#$ 0#$ 0 Total Liabilities and Deferred Inflows 16#$ 0#$ 0 TAX INCREMENT BALANCE Total Tax Increment Balance 17#$ 0#$ 0 Total Liabilities and Tax Increment Balance 18#$ 0#$ 0 Balance SheetPage 16 of 19 12951_2014_Dist TIF 1-4Printed 5/ Saint Joseph - TIF 1-4 St Joe Development, LLC - 2014 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersTransfersRev & ExpBalance Sheet EIC 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 or more, the excess increment calculation is not required to be reported. Excess increment calculation reporting exemption: Minn. Stat. § 469.176, subd. 2 (g). 1Tax increment generated by the district since certification$ 571,698 2Multiply the above amount by 1.2$ 686,038 3Total costs authorized by the TIF plan to be paid or financed with tax increment$ 643,000 REQUIRED 4Based on the calculation above, the Excess Increment Calculation Report is: Excess Increment Calculation Report 5Total tax increment generated by the district since certification$ 571,698 6Subtract total tax increment returned to the county$ 24,313 7Subtotal A$ 547,385 8Total costs authorized by the TIF plan to be paid or financed with tax increment$ 643,000 9Subtract authorized costs that have been or will be paid from sources other than tax increment$ 0 10Subtract principal and interest payments due after the year ended December 31, 2014$ 0 Add transfers of increment made prior to December 31, 2014, used to pay for Minn. Stat. § 469.1763 deficits 11$ 0 12Subtotal B$ 643,000 13Excess increment (Subtract subtotal B from subtotal A)$ (95,615) Subtract any of the authorized uses of excess increment listed below: 14Prepayment of any outstanding bonds$ 0 15Discharge of the pledge of tax increment for any outstanding bonds$ 0 16Payment into an escrow account dedicated to the payment of any outstanding bond$ 0 17Excess increment after subtractions of authorized uses*$ (95,615) *Excess increments after subtractions must be returned to the county for distribution to the city, county, and school districts in which the TIF district is located within nine months after the end of the year (by September 30). EICPage 17 of 19 12951_2014_Dist TIF 1-4Printed 5/ Saint Joseph - TIF 1-4 St Joe Development, LLC - 2014 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExprBalance Sheet ADS 2014 Annual Disclosure Statement Saint Joseph 1Name of Development Authority: 2Name of Municipality:Saint Joseph 3St. Joseph Newsleader06/05/2015 (Name of the Newspaper)(Date of Publication) The following information represents the annual disclosure of tax increment districts for the year ended December 31, 2014. TIF 1-4 St Joe Development, LLC 4Current net tax capacity$ 0 5Original net tax capacity$ 0 6Captured net tax capacity$ 0 7Principal and interest payments due in 2015$ 0 8Tax increment received in 2014$ 0 9Tax increment expended in 2014$ 0 10Month and year of first tax increment receipt05/2004 11Date of required decertification12/31/2012 The total increased property taxes to be paid from outside the district if fiscal disparities Option A applies* 12$ 0 * 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 decrease in tax increment financing district revenue or a tax increase for other properties in the municipality depending on whether the tax increment financing district contributes its share of the growth. Amounts displayed here indicate that the district did not contribute its growth in commercial- industrial property tax values and represent the resulting increase in taxes on other properties in the City for taxes payable in 2014. Additional information regarding this district may be obtained from: Name: 13Lori Bartlett Address: 14PO Box 668 City: 15St. Joseph State: 16MN Zip Code: 1756374 Phone: 18(320) 363-7201Enter as 6512962551. Email: 19lbartlett@cityofstjoseph.comEnter 'none' if no email address. ADSPage 18 of 19 12951_2014_Dist TIF 1-4Printed 5/28/ Saint Joseph - TIF 1-4 St Joe Development, LLC - 2014 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet Comments Comments Please enter any additional comments regarding this district (500 character limit on Comments): see PAYG tab comments 1 CommentsPage 19 of 19