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Home My WebLink About[05c] TIF 2-2 Summary TIF 2-2 Printed 6/7/2016 Saint Joseph - TIF 2-2 St.Joseph Meat Market - 2015 Annual Reporting Form Home Uventiew District Info Debt Interfund Loans PAYG Pro'ect Costs Transfers Rev&Ex Balance Sheet Tax Increment Financing Annual Reporting Form for the Year Ended December 31, 2015 1 TIF District Name TIF 2-2 St.Joseph Meat Market 2 Develoment Authors Saint Joseph p tY 3 District Type Economic Development 4 County Where TIF District is Located Stearns 5 County Identification Number, if any 0149 ._...... ......... _..._... ......... ......... ......... 6 Is the small city exception being used? No 7 Is this TIF district in a fiscal disparities area? No 1...111.......... 8 If,yes,under what options Not Applicable Original TIF Plan Information TIF Plan Approval Date: 04/21/2011 .................................................................................. .. ...... 11.....1.........._....1.... ..........,.... .. j 10 Certification Request Date 04/21/2011 .................................... ................... _1111. 11 Certification Date _ 03/27/2012 District Duration 12 Month and year of first receipt of tax increment(actual or anticipated): 07/2013 13 Required Decertification Date: =12/31/2021� TIF Plan Estimates - Original Plan 04/21/2011 04/21/2011 _ ESTIMATED TAX INCREMENT REVENUES(from tax increment generated by the district) 14i Tax increment revenues distributed from the county $ 85,894 ........................................................................................................................................._...........................................,. 15 Interest and investment earnings $ 695 16 Sales/lease proceeds $ 0 ... .... 17 Market value homestead credit $ 0 18` Total Estimated Tax Increment Revenues 86,5890 ESTIMATED PROJECT/FINANCING COSTS(to be paid or financed with tax increment) Project costs 19Land/building acquisition $ 0 20 Site improvements/preparation costs $ 50,000 .......... ._...._. .,........ ............................... ._._.................... 21 Utilities $ 0 _.............................................................. 22 Other public improvements $ 11,000 23 Construction of affordable housing $ 0 _1111. ................ _ �_. 24 Small city authorized costs, if not already included above $ 0 25 Admirnstrative costs ............................... .........E............................................. ...... . $ 8,589 1111............... _1.111. _1111.... 26 stimated. . . . Ta.x Incr. . ..e.ment. . . .Pr.. .oj.ect Costs $ 69,5$9 Estimated financing costs 27 Interest expense17,000 28 Total Estimated Project/Financing Costs to be Paid From Tax Increment $ 86,589 04/21/2011 ESTIMATED FINANCING 29 Total amount of bonds to be issued $ 100,000 1111 . ........... _.....,...._._._............................................................................... _...................................,... ,.....,............ �� Overview Page 1 of 19 TIF 2-2 Printed 6/7/2016 Saint Joseph - TIF 2-2 St.Joseph Meat Market - 2015 Annual Reporting Form Home Overview District Info Debt Interfund Loans PAYG Project Costs Transfers Rev&Ex Balance Sheet EIC At Revenues, Expenditures,and Changes in Tax Increment Balance A B C i. I Total Through Prior Years 2015 Amount 2015 REVENUES 1 Tax increment revenues distributed from the county $ 7,752 $ 3,958 $ 11,714 Interest and investment earnings ..... $ 2 $ 3 $ 5' TIF CreditsI'llI'llI'll $ 0 $ 0 $ 0 4 Loan/advance repayments $ 0 $ 0 $ 0 5 Lease proceeds $ 0 $ 0 $ 0 6 Repayments or return of tax increment per agreements $ 0 $ 0 $' 0 L 7 Total Revenues $ 7,754 $ 3,961 $ 11,715 EXPENDITURES _ 18 i Pro)ect costs(other than PAYG) $ 791 ,° $� 55 i 846 E 9` Tax increment returned to the county $ 0 $ 0 f $ 0 Bond Payments Principal 14 Payments for PAYG note or contract $ 110_39 $ 781 ( $ 1,820 11 Payments on all other TIF bonds 0; _� $ 0 Interest 12 Interest on PAYG $ 6,325 $ 2,98011 $ 9,305 ...... .. ..... 131 Interest on all other(TIF and Non-TIF)bonds $ 0 $ 01 $ 0 1 Interest on interfund loans $ 0 $ 0 $ 0' 15 Total Expenditures $ 8,155 $ 3,818- $ 11,971 16i Revenues over(under)expenditures $ (401) 145 $ 256)' OTHER SOURCES AND USES 17 Transfers in $ 0 $ 0 $ 0 18 Transfers out $ 0 $ 0 $ 0 r TIF Bonds issued otherthan refunding bonds) $ 0 $ 0 $ 0' (other . . g .... 20I Refunding TIF bonds issued $ 0 $ 0 $ 0 21' TIF Bonds refunded. .. $ 0 $ 0 $ 0 ............... 222' TIF Bond discount $ 0 $ _0 $ 0 3 TIF Bond premium $ 0 $ 0 $ 0 ---1 ......P ... ....... . . ........ �26 Sales of property.. ................... $ 0 $ 0 $ 0. . .. . Other see instructions,comment required) $ 0 $ 0 $ 0 Total Other Sources and Uses $ 0 $ 0 $ 0 r--- - x increment_ .... (401) $' 1� $ (266 7? Net change m tax balances 128 Tax Increment balance(beginning 01/01/2015) $ 401' 291 Tax Increment balance(ending 12/31/2015) $ (256 Comments 500 Character limit): Rev&Exp Page 15 of 19 TIF 2-2 Printed 6/7/2016 Saint Joseph - TIF 2-2 St. Joseph Meat Market - 2015 Annual Reporting Form Hame Overview District Info Debt Interlund Loans PAYG Pro'ect Costs Transfers Rev&Ex Balance Balance Sheet 12/31/2014 12/31/2015 ASSETS 1 Cash $ 117 $ 243 2 Investments $ 0 $ 0 3 Due from other TIF districts $ 0 $ 0 4 , Due from non tax increment accounts $ 0 $ 0 "5 t Interest receivable $ 0 $ 1 ___. _,_ 6 Taxes receivable - _-.. 0. ..� -.1-1111.1-1.1------_-_0 7 Other receivables $ 0 $ 0 8; Property held for resale $ 0 $ 0 9 Total Assets $ 117 $ 244 LIABILITIES 10 Due to other TIF districts $ 0 $ 0� 11 Due to non-tax increment accounts $ 500 $ 500 .. ..... _._......._ ..._.. ...._.. _. 12 Accounts payable $ 18 $ 0 13 Unearned revenue $ 0 $ __. _. 0. 14 Total Liabilities $ 518 $ 500 15 Deferred Inflows $ 0 $ 0 16 Total Liabilities and Deferred Inflows $ 518 $ Soo j TAX INCREMENT BALANCE 17 Total Tax Increment Balance 1 $ 401 $ (256) 18 Total Liabilities and Tax Increment Balance $ 117 $ 244' Balance Sheet Page 16 of 19 TIF 2-2 Printed 6/7/2016 Saint Joseph - TIF 2-2 St. Joseph Meat Market - 2015 Annual Reporting Form Home Overview 1 F District Info F—D—e-b-t-11 Interfund Loan7sF`PA_YG__jj Project Costs Transfers Rev& Ex r B, 2015 Annual Disclosure Statement 1 Name of Development Authority: Saint Joseph 2 Name of Municipality: Saint Joseph �3 St. Joseph Newsleader � �� 07/01/2016 (Name of the Newspaper) (Date of Publication) The following information represents the annual disclosure of tax increment districts for the year ended December 31, 2015. TIF 2-2 St.Joseph Meat Market 4 Current net tax capacity $ 10,772 .......................................................................................................................................... 5 Original net tax capacity $ 7,626 6 Captured net tax capacity $ 3,146 ............................................................................................................................................................. 7 Principal and interest payments due in 2016 $ 4;113 8 Tax increment received in 2015 $ 3,961 9 Tax increment expended in 2015 $ 3,816 1(} Month and year of first tax increment receipt .. ................................................... 07/2013 �1 Date of required decertification 12/31/2021 The total increased property taxes to be paid from outside the district if _ 12 fiscal disparities Option A applies* ............................................................................... $_ 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 2015. Additional information regarding this district may be obtained from: 1'3 Name: Lori Bartlett ................................. 14 Address: PO Box 668 15 City; Saint Joseph 16 State: --MN 17' Zip Code: 56374 _............................. 18 Phone: (320) 363-7201 Enter as 6512962551. ......--.......... 19 Email: Lbartlett(a cityofstioseph.com Enter none'd no email address. ADS Page 18 of 19