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Home My WebLink About[05d] TIF 2-3 Summary TIF 2-3 Printed 6/7/2016 Saint Joseph - TIF 2-3 Bayou Blues - 2015 Annual Reporting Form Home t�verview': District Info Debt Interfund Loans PAYG Project Costs Transfers Rev&Ex Balance Sheet Tax Increment Financing Annual Reporting Form for the Year Ended December 31, 2015 1 ' TIF District Name: TIF 2-3 Ba ou Blues 2 Development Authority: Saint Joseph _......._._......................_._._._...................-..................................... ....................... 3 District Type: Redevelopment 4 County Where TIF District is Located: Stearns ................ 5 ' County Identification Number, if any 6 ; Is the small city exception,being used? Not Applicable 7 Is this TIF district in a fiscal disparities area? No _ . ............... If yes under what options Not Applicable Original TIF Plan Information 9- TIF Plan Approval Date: 11/10/2014 10 Certification Request Date: 05/27/2015 ................ 11 Certification Date 06/10/2015 District Duration 12 Month and year of first receipt of tax increment(actual or anticipated): 07/2017 Required Decertification Date12/31/2042 TIF Plan Estimates - Original Plan 11/10/2014 11/10/2014 ESTIMATED TAX INCREMENT REVENUES(from tax increment generated by the district) �14 Tax increment revenues distributed from the county $ 2,493,281 Interest and investment earnings $ 24,933 ........................................................Sales/lease proceeds $ 0 ......................... ...... ............. ...... . ,.,................. 17 Market value homestead credit $ 0 18 Total Estimated Tax Increment Revenues 2,518,21'4 ESTIMATED PROJECT/FINANCING COSTS(to be paid or financed with tax increment) Project costs 19 Land/building acquisition �$ 500 000- ................. .. ..... 20 Site improme vents/preparation costs _ �$ 500,000 21 Utilities 100,000 ......................... ......... .............. __ ... . . ... ....... ........... ................................. 22 Other public improvements $ 128,685 23 Construction of affordable housing $ 0 ................ .. .................. .......... . ................... .. 24 Small cityauthorized costs if not already included above .......... ......... y $ 0 25 Administrative costs $ 251,821 26" Estimated Tax Increment Project Costs $ 1480,506 Estimated financing costs 27 Interest expense ............ ................. ............. . $ 1,037,707 28 Total Estimated Project/Financing Costs to be Paid From Tax Increment 2,518,213 11/10/2014 ESTIMATED FINANCING _ 29 TI'llotal amount of bonds to be issued r$ 1,480,507 Overview Page 1 of 19 TIF 2-3 Printed 6/7/2016 Saint Joseph - TIF 2-3 Bayou Blues - 2015 Annual Reporting Form Home Overvievr District Info Debt Interfund Loans PAYG Pro'ect Costs Transfers Rev&' Balance Sheet EIC A[ Revenues, Expenditures,and Changes in Tax Increment Balance . ._ ....... .A _ Bww.. . C Total Through Prior Years 2015 Amount 2015 REVENUES 4 Tax increment revenues distributed from the county $ 0 $ 0 $ 0 2 E Interest and investment earnings $ 0 $ 0 $ 0 3 ..... ... ............... TIF Credits $ 0 $ 0 $ 0 4 Loan/advance repayments $ 0 ......_�___..__._......_. Lease proceeds per agreements $ 0 $ 0 $ 0 7 ; TotaI _ Repayments or return of tax increment $ 0 $ 0 $ 0 (Revenues .. $ "0 $ 0. $ 0 EXPENDITURES 8 Project costs(other than PAYG) $ 0 � 263 { $ 4,263 Tax increment returned to the county $ 0 L$ 0 l $ 0 Bond Payments Principal 10 Payments for PAYG note or contract"1111111 0, g $ 0 Is 0 11. Payments on all other TIF bonds $ 0 $ 0 $ 0 _ Interest '12` Interest on PAYG $ 0 $ 0 $ 0 ...... 13Interest on all other(TIF and Non-TIF)bonds $ 0 $ 0 $ 0 14 Interest on interfund loans $ 0 $ 0 $ 0 15 Total Expenditures $ 0 $ 4,263 $ 4,263 :16, Revenues over(under)expenditures 1 $ 0 [$ (063) 1 $ 4,263 OTHER SOURCES AND USES 17Transfers in $ 0 $ 0 $ 0' 18 Transfers out $ 0 $ 0 $ 0- 19 TIF Bonds issued_(other than di refunng bonds) $ 0 $ 0 $ 0 20, Refunding TIF bonds issued $ 0 $ 0 $ 0° 1 TIF Bonds refunded $ 0 $ 0 $ 0 ................. .... . ............ . ...._.._. 22 TIF Bond discount $ 0 $ 0 $ 0 23i TIF Bond premium $ 0 $ 0 $ 0 241 Sales of property, $ 0 $ 0 $ 0 25 Other(see instructions,comment required) $ 0 $ 0 $ 0 26 Total Other Sources and Uses $ 0 $ 0 $ _ `0 L2 7] Net change in tax increment balances 1$ T $ (4,263) 1$ (4,263) 28 Tax Increment balance(beginning 01/01/2015) 11 $' 0 29I Tax Increment balance(ending 12/31/2015) $ (4,263) Comments 500 Character limit): 13 0 Rev&Exp Page 15 of 19 TIF 2-3 Printed 6/7/2016 Saint Joseph - TIF 2-3 Bayou Blues - 2015 Annual Reporting Form Home Overview District Info Debt Interfund Loans FPAYGjj Project Costs Transfers Rev&Ex Balance Balance Sheet 12/31/2014 12/31/2015 ASSETS 1 Cash r$ 0 $- 737 .............. ...._............ ............ .................................. . ..................................................... 2 Investments $ 0 $ 0 3 Due from other TIF districts $ 0 $ _ 0 ... _ 4 Due from non tax increment accounts $ 0 $ 0 5 Interest receWable _ $ 0 $ 0 Taxes receivable $ 0 $ 0 P8� Propertyhe ables $ 0 $ 0 7 Other receivId for resale $ 0 $ 0 Total Assets. $ 0 $ 737 j LIABILITIES 110 Due to other TIF districts $ 0 $ 11 Due to non tax increment accounts $ 0 $ 5,000 12 Accounts payable $ 0 $ 0 13 Unearned revenue _ _ _ $ 0 _$ 0 .... ...._._............. X14 Total Liabilities $ 0 $ 5,000 P11r5', Deferred Inflows $ 0 $ 0Total Liabilities and Deferred Inflows $ 0 $ 5,000 TAX INCREMENT BALANCE 17 Total Tax Increment Balance $ 0 $ 4,263) E8 Total Liabilities and Tax Increment Balance is 0 1 $ 737" Balance Sheet Page 16 of 19 TIF 2-3 Printed 6/7/2016 Saint Joseph - TIF 2-3 Bayou Blues - 2015 Annual Reporting Form Home Overview District Info Debt Interfund Loans PAG Project Costs Transfers Rev&Ex r B< 2015 Annual Disclosure Statement 1 Name of Development Authority: Saint Joseph 2 Name of Municipality: Saint Joseph 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 2-3 Bayou Blues 4 Current net tax capacity $ 2,427 .......................................................................................... 5 Original net tax capacity $ 2,427 p"t"....................a............... it.. _,..._. 6 Captured net tax capacity $ 0 7 Principal and interest payments due in 2016 $ 0 8; Tax increment received in 2015 $ 0 ........................................................................................................................................................... 9 Tax increment expended in 2015 $ 4,263 10 Month and year of first tax increment receipt .... .................. 07/2017 11 Date of required decertification ......................... 12/31/2042 The total increased property taxes to be paid from outside the district if 12 .11.11-111111--_fiscal disparities Option A applies.................................................................................... *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: 13 Name: Lori Bartlett 14 Address: PO Box 668 ................................. 15 City; Saint Joseph 16 State: E56374 N 17 Zip Code: 18' Phone: (320) 363-7201 Enter as 6512962551. 19 Email: Lbartletta_cityofstioseph.com Enter none'if no email address. ADS Page 18 of 19