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Home My WebLink About[05e] TIF 3-1 Summary TIF 3-1 Printed 6/7/2016 Saint Joseph - TIF 3-1 Central MN Credit Union - 2015 Annual Reporting Form Home t3verview 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 3-1 Central MN Credit Union 2 Development hori Autty Saint Joseph 3 District Type Economic Development 4 County Where TIF District is Located: Stearns �. _.....__....... . i 5 County Identification Number if any. _ 6 Is the small city exception being used No 7 Is this TIF district in a fiscal disparities areas No If res under what options Not Applicable Original TIF Plan Information / 01 9. TIF Plan Approval Date 03/16/2015 L05/2f 10 Certification Request Date 015_ .... ......... 11 Certification Date 06/30/2015 ......... ............ ...... ................... ........ ...... ... ...... ............ District Duration 12 Month and year of first receipt of tax increment(actual or anticipated): 07/2017 13 Required Decertification Date E2/31/20 TIF Plan Estimates - original Plan 03/16/2015 03/16/2015 ESTIMATED TAX INCREMENT REVENUES(from tax increment generated by the district) _ 14 Tax increment revenues distributed from the county $ 450,998 15 Interest and investment earnings $ 4,510 16 Sales/lease proceeds $ 0 .......s.._........................ ..._........................... ................ 17 Market value homestead credit $ 0 ......_................................_._..............i .................. ......................... 18 Total Estimated Tax Increment Revenues 455,508 ESTIMATED PROJECT/FINANCING COSTS(to be paid or financed with tax increment) Project costs 19 Land/building acquisition $ '0 20 Site improvements/preparation costs $ 130,000 21` Utilities $ ..O_ 22 Other public improvements $ 158,267 23 Construction of affordable housing $ � 0 ..... ..., ........_....... 24 Small city authorized costs,if not already included above $ 0 M26 Administrative costs $ 45,551 111Estimated Tax Increment 1.Project 11 Costs 11.11,11.11.11 $ 333,8181 Estimated financing costs 27 Interest expense _._._ $ 121,690 28 Total Estimated Project/Financing Costs to be Paid From Tax Increment $ 455,508 03/16/2015 ESTIMATED FINANCING 29 Total amount of bonds to be issued,818 ' . ...... _... . ........... ....._.............._..,............... _......... ............ _........,.. _.............. �$333j Overview Page 1 of 19 TIF 3-1 Printed 6/7/2016 Saint Joseph - TIF 3-1 Central MN Credit Union - 2015 Annual Reporting Form Home OverviewDistrict Info Debt Intertund Loans PAYGI FP-ro-je-ct Costs Transfers Rev&EELBalance Sheet EIC AC Revenues, Expenditures,and Changes in Tax Increment Balance . A. ._.__. .m- _B_ ... ! l..__.. ...� ..._..._ Total Through Prior Years 2015 Amount 2015 REVENUES i Tax increment revenues distributed from the county T- 21 21 Interest and investment earnings $ 0 $ 0 $ 0 TIF Credits $ 0 $ 0 $ 0- 4 Loan/advance repayments $ 0 $ 0 $ 0 Lease proceeds $ 0 $ 0 $ 0 Repayments or return of tax increment per agreements $ 0 $ 0 $ 0 L7JTotal„Revenues $ 0 $: 0 $ 0 EXPENDITURES Protect costs(other than PAYG) $ mm 0 is 5,597 $ 5,597; 9 I Tax increment returned to the county $ 0 0 Bond Payments Principal _ 10 Payments for PAYG note or contract $ 0 $ Is 0 M Payments on all other TIF bonds 1 $ 0 �0 Interest 12 Interest on PAYG F$ T�-- $ 0 .......... 13; Interest on all other(TIF and Non-TIF)bonds $ 0 $ 0 14 Interest on interfund loans $ 0 $ 0 Total Expenditures 1 $ 5,5971 $ 5,597 16 Revenues over(under)expenditures 1 $ 0 $ (5,59 $ (5,59 OTHER SOURCES AND USES 17 Transfers in $ 0 $ 0 $ 0 181 Transfers out $ 0 $ 0 $ 0' ... ............ .......... ......... 19TIF Bonds issued(other than refunding bonds) $ 0 $ 0 $ 0 20 Refunding TIF bonds issued $ 0 $ 0 $ 0 IF _. 21 TBonds refunded $ 0 $ 0 $ 0 22. TIF Bond discount $ 0 $ 0 $ 0 23 TIF Bond premium ,. .... $ 0 $ _ 0 $ 0 24° Sales ofroP_erty. $ 0 $M25 6't h er'(' 0 $ 0 _P .see instructions comment required) $ 0 $ 0 $ 0 2&j Total Other Sources and Uses $ 0 $ 0;) $ 0 27l Net change in tax increment balances ! $ 01 1$' (5,597) 1$ (5,597) 28 Tax Increment balance(beginning 01/01/2015) $' 0 129 Tax Increment balance(ending is (5,597) Comments 500 Character limit): i 30 Rev&Exp Page 15 of 19 TIF 3-1 Printed 6/7/2016 Saint Joseph - TIF 3-1 Central MN Credit Union - 2015 Annual Reporting Form F-H—om-e-1FO—ye'ryi-e-w-IFEistrict Info Debt Interfund Loans PAYG Project Costs Transfers Rev&Ex Balance Balance Sheet 12/31/2014 12/31/2015 ASSETS 1 Cash $ 0 $ 403 2 Investments $ $ 0 3 Due from other TIF districts $ 0 $ 0 4 , Due from non tax increment accounts $ 0 $ 0 5 Interest receivable $ 0 $ 0 6 E97 Taxesreceivable $ 0 $Other receivables $ 0 $ 0 Property held for resale $ 0 $ 0 Total Assets $ 0 $ 403 LIABILITIES 10I Due to other TIF districts $ 0 �� .......... 11 Due to non tax increment accounts $ 0 $ 6,000 12 Accounts payable $ 0 $ 0 13 Unearned revenue $ 0 $ 0 ...................._.......... 14 Total Liabilities $ 0 $ 6,000 151 Deferred Inflows $ 0 $ 0� 16 Total Liabilities and Deferred Inflows $ 0 $ 6,000 TAX INCREMENT BALANCE 17 Total Tax Increment Balance $ 0 $ (5,597) 18 Total Liabilities and Tax Increment Balance $ 01 Is 403"', Balance Sheet Page 16 of 19 TIF 3-1 Printed 6/7/2016 Saint Joseph - TIF 3-1 Central MN Credit Union - 2015 Annual Reporting Form Home Overview District info Debt Interfund Loans PAYG Project CostsTransfers Rev&Expr i 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 3-1 Central MN Credit Union 4 Current net tax capacity $ 7,460 5 Original net tax capacity $ 7,460 'p.t........_.....e........_.......... .................................... ........_................. 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 $ 5,597 ........... .......................................................................-........... 10 Month and y _.................... year of first tax increment receipt . . 07/2017 11 Date of required decertification _ 12/31/2025 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: 13 Name: Lori Bartlett 14 Address: PO Box 668 15 City:y Saint Joseph 16 State: MN ..............:..................17 Zip Code: 56374 18' Phone: (320)363-7201 Enter as 6512962551. 19 Email: Lbartlett()cityofstLoseph.com Enter none'if no email address. ADS Page 18 of 19