HomeMy WebLinkAbout[04c] 2015 TIF Reports Council Agenda Item 4c
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MEETING DATE: July 7, 2016
AGENDA ITEM: 2015 TIF Reports
SUBMITTED BY: Finance
PREVIOUS COUNCIL/BOARD ACTION: Council approved the creation of the TIF Districts below.
The EDA recommended acceptance on June 15th for submittal to the State Auditor.
BACKGROUND INFORMATION: Annually the City is required to submit TIF reports to the State
Auditor for each certified TIF District within the City. State Statute requires filing the reports by August
1St of each year. For 2015 there are five certified districts.
The 2015 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 Central MN Credit Union) and
a Redevelopment District with a duration of 26 years (Millstream Shops and Lofts; and Bayou Blues And
Alley Flats). District 1-4 was an economic district, now decertified. 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 (restaurant equipment) 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.
Upon approval by the Council, a summary disclosure of the 2015 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 1-4 St. Joe Development, LLC
TIF District 2-1 Millstream Project
TIF District 2-2 St. Joseph Meat Market
TIF District 2-3 Bayou Blues
TIF District 3-1 Central MN Credit Union
REQUESTED COUNCIL ACTION: Accept the 2015 TIF reports as presented.
TIF 1-4
Printed 6/7/2016
Saint Joseph - TIF 1-4 St Joe Development, LLC - 2015 Annual Reporting Form
Home Overy, vew District Info –De—bt7I Interfund Loans PAYG Pro ect Costs Transfers Rev & Ex Balance SheetjL
Tax Increment Financing Annual Reporting Form for the Year Ended December 31, 2015
1 TIF District Name:
2 Development,A tho ity
3 s District Type:
4 ` County Where TIF District is Located
5 County Identification Number d any
6 Is the small city exception being used
7 ' Is this TIF district in a fiscal disparities area?
..................
If yes, under what option
1-4 St Joe Development, LLC
Economic
Stearns _
110 _
No
No
Not ADDIic
Original TIF Plan Information
9 TIF Plan Approval Date: 06/27/2002 -1
Pp
10 Certification Request Date 07/31/2002_
11 Certification Date 09/09/2003
District Duration
':2] Month and year of first receipt of tax increment (actual or anticipated) 05/2004 j
13 Required Decertification Date 12/31/2012
14
15
16
17
'$
( q�g
20
t21
Ti
23''
24
25
N26
TIF Plan Estimates - Original Plan 06/27/2002
06/27/2002
ESTIMATED TAX INCREMENT REVENUES (from tax increment generated by the district)
Tax increment revenues distributed from the county._._._._ .................. $ 643,000
...................
Interest and investment earrnngs � $ 0
r'o- . ............ .. ............
_.......
Sales/lease proceeds $ 0
Market value homestead credit $ 0
Total Estimated Tax Increment Revenues 643,000
ESTIMATED PROJECT/FINANCING COSTS (to be paid or financed with tax increment)
Estimated financing costs
2 Interest expense
AM Total Estimated Project/Financing Costs to be Paid From Tax Increment
ESTIMATED FINANCING
29 Total amount of bonds to be issued
$ 300,000
$ _ 0
$ _ 104,400 !
0
0
$ 471,000
Fa --172, -66-6-1
643,000
06/27/2002
$ 643,000
Overview Page 1 of 19
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TIF 1-4
Saint Joseph - TIF 1-4 St Joe Development, LLC - 2015 Annual Reporting Form
Printed 6/7/2016
I Home II Overview 11 District Info II Debt II Interfund Loans II PAYG 11 Project Costs II Transfers II Rev & Exp II Balance Sheet II EIC III [
Revenues, Expenditures, and Changes in Tax Increment Balance
.
.A _.l B _ I I . ... c.
Total Through
Prior Years 2015 Amount 2015
REVENUES
. ._ ....._.. _ _
1 i Tax increment revenues distributed from the county $ 554,445 $ 0 $ 554,445'
.
2,'i Interest and investment earnings $ 5,053 $ 0 $ 5,053`
.......
3 TIF Credits $ 0 $ 0 $ 0
4v 1 Loan/advance repayments $ 0 $ 0 $ 0.
f 5 Lease proceeds $ 0 $ 0 $ 0
6 Repayments or return of tax increment per agreements $ 12,200 $ 0 $ 12,200
7 Total Revenues .
$ 571,698 $ 0 $ 571.698
EXPENDITURES
8 Project costs (other than PAYG) $ 9� $ 0 $ 90,966
9 i Tax increment returned to the- 11 county $ 24,313 $ 0 L $ 24,313
Bond Payments
Principal
10 Payments for PAYG _0 note or contract $ 4 56, 419 ' $ $ 456,49
11 ' _ __��1
Payments
on all other, TIF bonds $ 0 $ 0 $ 0
_ Interest
f 12 Interest on PAYG1�0
$ 0 $ 0
X13 Interest on all other (TIF and Non -TIF) bonds $ 0 $ 0
= 14 Interest on intertund loans $ 0 $ 0
15 Total Expenditures $ 571,698 1 $ 0 $ 571,698
L 16 Revenues over (under) expenditures $ 0 ( $ 0 , $ 0 j
OTHER SOURCES AND USES
17 Transfers in
.......... .. „ ..._........
18 Transfers out
19 TIF Bonds issued (other than refunding bonds)
.. ......
__...
20 Refunding TIF bonds issued
21 TIF Bonds refunded
_...
22, TIF Bond discount
123- IF Bon
' d premwm
Sales of property
[2151 Other (see instructions comment required)
.....
126,1 Total Other Sources and Uses
27 Net change in tax increment balances
28 i Tax Increment balance (beginning 01/01/2015)
29 Tax Increment balance (ending 12/31/2015)
comments tauu c;naracter
30j'
$
0
$ 0
$
0
$
0
$ 0
$
0'
$
0
$ 0
$
0'
$
0
$ 0
$
0
$
0
$ 0
$
0r
$
0
$ 0
$
0"
$
0
$ 0
$
0
$
0
$ 0
$
0=
$
0
$ 0
is
0-
$
0
is 0
is
0
($07
is i
1 1
$ 0
$ 0
Rev & Exp Page 15 of 19
TIF 1-4
Printed 6/7/2016
Saint Joseph - TIF 1-4 St Joe Development, LLC - 2015 Annual Reporting Form
Home Overview District info Debt lnterFund Loans PAYG Proiect Costs Transfers Rev &
LIABILITIES
10 Due to other TIF districts
11 E Due ..............................
.
12 Accounts payable _...................._...........................,.. $ 0 s $ 0
13 Unearned revenue $ 0 $ 0
_...
14' Total Liabilities $ 0 $ 0
15 Deferred Inflows $ 0 $ 0
j $ 0 is 0
TAX INCREMENT BALANCE
ff Total Tax Increment Balance } $ 0 $ 0
1$ Total Liabilities and Tax Increment Balance
Balance Sheet Page 16 of 19
Balance Sheet
12/31/2014
12/31/2015
ASSETS
Cash$
0
$ 0
—1
� 2
Investments . ......................._.. _................. .
......_...,......
$ 0
$ 0
3
Due from other TIF districts
$ 0
$ 0
4
Due from non -tax increment accounts
$ 0
$ 0
5
Interest receivable
$ 0
$ 0
6
7 '
Taxes receivable$
Other receivables
0
$ 0 °
$ 0
$ 0
Property held for resale
$ 0
$ 0 s
�8�
9
Total Assets$
0
. $ 0
LIABILITIES
10 Due to other TIF districts
11 E Due ..............................
.
12 Accounts payable _...................._...........................,.. $ 0 s $ 0
13 Unearned revenue $ 0 $ 0
_...
14' Total Liabilities $ 0 $ 0
15 Deferred Inflows $ 0 $ 0
j $ 0 is 0
TAX INCREMENT BALANCE
ff Total Tax Increment Balance } $ 0 $ 0
1$ Total Liabilities and Tax Increment Balance
Balance Sheet Page 16 of 19
TIF 1-4 Printed 6/7/2016
Saint Joseph - TIF 1-4 St Joe Development, LLC - 2015 Annual Reporting Form
Home Overview District Info Debt Interfund Loa nsFP—A—YG-11 Project Costs an
Trsfers Rev & Expr (B;
2015 Annual Disclosure Statement
DName of Development Authority: Saint Joseph
[2 Name of Municipality: I Saint Joseph
3 St. Joseph Newsleader �---I 07/01/2016_
(Name of the Newspaper) (Date of Publication)
4
5
6
7
8
9
911
16
17
18
19
The following information represents the annual disclosure of tax increment districts for the year
ended December 31, 2015.
Current net tax capacity
.............. ....................................
Original net tax capacity
.........................................................
Captured net tax capacity
......................................................................................................................
Principal and interest payments due in 2016
........................................................................
Tax increment received in 2015
Tax increment expended in 2015
Month and year of first tax increment receipt
Date of required decertification
The total increased property taxes to 1. be 11 paid from outside 11 the 11 district if
fiscal disparities Option A applies*
TIF 1-4 St Joe
Development, LLC
$
0
$
0
Pty'-_ ............. .....
0
$
0
$
0
$
0
Email:
05/2004
12/31/2012
S o
* 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:
Name:
Lori Bartlett
Address:
PO Box 668
Pty'-_ ............. .....
St. Joseph
State:
N
Zip Code:
!_5637E41
Phone:
(320) 363-7201
Email:
Ibartlett cityof
Enter as 6512962551.
Enter 'none' if no email address.
ADS Page 18 of 19
TIF 2-1
Printed 6/7/2016
Saint Joseph - TIF 2-1 Millstream Project - 2015 Annual Reporting Form
FNome rOverview �FDistrict —Info -1F-6;b7t1 Interfund Loan-sTP—AY—GFP—ro—je—ct—Costs —IFTransfers � F Rev & Ex Balance Sheetr
Tax Increment Financing Annual Reporting Form for the Year Ended December 31, 2015
1 TIF District
_ ..............Name: -.....................................................
TIF 2-1 Millstream
...................... t.. .
2 Development Authority: Saint Joseph
*.... ................ ...........
3 District Type: Redevelopment
........CountyWhere . ........................ .. ............... .......... ......... ........... ......
' TIF District is Located : Stearns
....... ...
County Identification Number,if any: 131
1 . - ........ .... ...... - -- .... ......
6 Is the small city,exception being used? Not Applicable
n7 411"this ffli- district i ct .... .. ....... ..........
in a fiscal disparities area? No
.. ... ... .. ... ..
8 8
If yes under what option? Not Applicable
Original TIF Plan Information
4�9
TIF Plan Approval Date: 05/03/2007
Certification"''' � 'Request' '' ' Date ... .. . ..... .... .... . . .... . ............. ............... . .. ........ ... .. .... .......... ..... ...... ........ . ........... .. ... ... ........ 08/16/2007
8
11 Certification Date: 08/14/2008
District Duration
12 Month and year of first receipt of tax increment (actual or anticipated): X07/2009
..........
1 [---T2—/31/2034 I
TIF Plan Estimates Original Plan 05103/2007
0510312007
ESTIMATED TAX INCREMENT REVENUES (from tax increment generated by the district)
Tax increment revenues distributed from the county
Fs 1,598 000
-i5 'i�i�r'es"t"a'nd'i'nv'e's'tment ea'rn'ings . ................... . ... ......... ................... .... . ........ .......... ....... .. ..... . ... .... .. .......... ........ ........
16 "Saiesilease'proceeds ..........
-f7- ..." eh o'r esie' a' d' credit ............ ................... . ....... . ... ......... ........... ..............
........ .. ................ .. . ....... .. ........... ....... $ 0
18 Total Estimated T ax Increment R e v e n u e s598,0221
$
ESTIMATED PROJECT/FINANCING COSTS (to be paid or financed with tax increment)
Project costs
19 Land/buildinq acquisition
$ 467,000 ;
P2220 Site improvements/preparation costs $ 0 ii
,21 utilities .. . . .. ......... . .................. ... ......... ........ .... . ... ... . ........ ....................................
................................ .............
.... . ............ ....... .. ... .... . . .......... . ..... —$--15-"-000
Other.... public b"l'i'c' i m pro 'v"e' m' e n"t's' .......... . . .. . .. ... .. .... .......... ....................... ......... ............. ..................... . ............. ... $ 0
23 Construction of affordable housing $ 0
. .... .. .... .. .
24 Small city authoriz'e'd"costs ,'if"not already "included "above ...... . ..... .. ........ .............. . ............. ......... .. . ... ... . ....
$
166,000
$
_?6
j Estimated Tax Increment Project Costs $ 648
..... ........ .. ..... .. ........... ... . 0�
Estimated financing costs
[27 Interest expense -$ 950,000
28 Total Estimated ProjectlFinancing Costs to be Paid From Tax Increment is 1,59807007
05/03/2007
ESTIMATED FINANCING
[2:]9, Total amount of bonds to be issued
............... .. ....... .. . .. ............. . �46700��J
Overview Page 1 of 19
TIF 2-1
Saint Joseph - TIF 2-1 Millstream Project - 2015 Annual Reporting Form
Printed 6/7/2016
Home 11 Overview 11 District Info 11 Debt 11 Interfund Loans 11 P"G 11 Project Costs 11 Transfers 11 Rev & Exp 11 Balance Sheet 11 EIC 11 A[
Revenues, Expenditures, and Changes in Tax Increment Balance
.. ........
........ ... . ..... ...... ..... .
Total Through
Prior Years 2015 Amount 2015
REVENUES
Tax increment revenues distributed from the county $ 185,339 $ 37,426 $ 222,765
2 Interest earnings and investment eags $ 1,946 $ 231 $ 2,177
r-1,11-111111 1 1111.111,11, e ........ .. ......... ........... .. . ....... ... .......... .. ........... . ... ............ ........................
3TIF Credits $ 952 $ 0 $ 952
Loan/advance ' repayments $ 0 $ 0 $ 0
5 Lease proceeds $ 0 $ 0 $ 0
16 Repayments or return of tax increment per agreements $ 0$ 0 $
0
Total Revenues $ 188,237 $ 37,657 $ 225,894
EXPENDITURES
Project costs (other than PAYG
.... .... ..
9
J Tax incrementreturned tothe,county
Bond Payments
Principal
10 Payments for PAYG note or contract
11 Payments on all other TIF bonds
Interest
FInterest
onPAYG
Interest on all other (TIF and Non -TIF) bonds
Interest on interfund loans
15) Total Expenditures
F
Revenues over (under) expenditures
$ 6134 358 6q,705
0
$ o 0
' F;$-- --
1 $ 8,100 $ 373 Fs 6,4731
IA -0i
$ 160,076 $ 33,310 $ 193,386
$ 0 $ 0
r—$-0 —$ — 0
1 $ 174,5x3 1 $ 34,041 i— 208,564
$ 13,714 $ 3,6 1 $ 17,3370
s (,)uu Lnaracter iimiy:
inistrative expenses recorded in the 2014 TIF reports and as a transfer in the 2015 audited financial statements. The 2014
were not known before the 2014 audited financial statements were published. The amount was immaterial to the financial
s($4,267).
Rev & Exp Page 15 of 19
OTHER SOURCES AND USES
1
Transfers in
-$—o
$ 0
$
0
1-8�
Transfers o ut ..
........ . .......... . - . ........ ...... . .......... ...........
$
0
$ 0
$
0,
191
.. .
TIF Bonds issued (other than refunding bonds)
. .. ........... . . ........... ............ . .......
... ... $
0
$ 0
$
0
I
Refunding TIF bonds issued . .... ....... ........ .. ..... ........ ......
..
$
0
$ 0
$
0
21 I
.. . ...
TIF Bonds refunded$
... . . ... . ... .................. .... ...
..... ......... .. . ..... ... . . . ..
'TIF
.....
0
$ 0
$
0
.22
Bond discount
"premium '
$
0
$ 0
$
0
23;
TIF Bond
$
0
$ 0
0
24
Sales of property .. ........ . . ........ .. ..............
$
0
$ 0
$
0
i '25
Other (see instructions, comment required)
$
0
$ 0
$
0
26
Total Other Sources and Uses
$
0
$ 0
$
0
427
Net change, I in. , tax increment balances
1$ 13,7141
1 $ 3,61-67
J$ 17,330
Tax increment balance (beginning 011/01/2015)
1$ 13,7147
'Tax increment balance (ending 12/31/2015)
s (,)uu Lnaracter iimiy:
inistrative expenses recorded in the 2014 TIF reports and as a transfer in the 2015 audited financial statements. The 2014
were not known before the 2014 audited financial statements were published. The amount was immaterial to the financial
s($4,267).
Rev & Exp Page 15 of 19
TIF 2-1
Saint
- TIF 2-1 Millstream P
Balance Sheet
Printed 6/7/2016
- 2015 Annual Reportinq Form
ISA __ = = _-:: 8=
12/3112014 12/31/2015
_$ 1-7,162
$ 0
0
$
0
4$
48,
$
1,205
0
is
18,IL5
=j
LIABILITIES
10 Due to other TIF districts$ 6
............... ............................ .......... .......... ...... .................... ..................................... .................. .....
11 Due to non -tax increment accounts $ 0 $ 0
............... .... ................... ....... . . .... .......... ........ ..... . ..................... ......... ....... ........ ..................
12 Accounts payable $ 1,767 $ 1,085
........ ..
13 'Upewned revenue $ 0 $ 0
..........
14 Total Liabilities ......................... . . ........ ........ ......... $ 1,767 $ 1,085
415 Deferred Inflows 0
16, Total Liabilities and Deferred Inflows 1 $ 1,7671 J$ 1,0851
_1 _ .. ........ . ..... __ ........ __ __ ........ .. ........... __ ........... .... 111-11-1-1-1
TAX INCREMENT BALANCE
[1-7'
j Total ...Tax ,.Increment Balance $ 13,714 $ 17,33-07
E8 Total Liabilities and Tax Increment Balance $ --1-574-871 $ 18,4151
Balance Sheet Page 16 of 19
TIF 2-1
Saint
- TIF 2-1 Millstream Proiect - 2015 Annual
Form
Printed 6/7/2016
I Home II Overview it District Info II Debt II Interfund Loans II PAYG II Proiect Costs II Transfers II Rev & Exor II B,
2015 Annual Disclosure Statement
.i1 Name of Development Authority: Saint Joseph
Name of Municipality: Saint Joseph
3 'St. Joseph Newsleader 07/01/2016
(Name of the Newspaper) (Date of Publication)
4
5
6
7
8
9
10-
11
12
13
14
15
16
17
18
19
The following information represents the annual disclosure of tax increment districts for the year
ended December 31, 2015.
Current net tax capacity
Original net tax capacity
Captured net tax capacity
1.
_.
Principal and interest payments due in 2016
.................................................................
Tax increment received in 2015
Tax increment 1.expended in 2015
Month and year of first tax increment receipt .................................
........................ .....
Date of required decertificationa..........�....................... . ..... ........ .
The total increased property taxes to be paid from outside the district if
fiscal disparities Option A applies*
TIF 2-1 Millstream
Project
$
40,522
$
5,369
$
35,153
$
42,436
$
37,657
$
34,041
07/2009
12/3172034
" 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:
Name:
Address:
State:
Zip Code:
Phone:
Email:
Lori Bartlett
PO Box 668
Saint Joseph
MN
56374
(320) 363-7201
Enter as 6592962551.
Enter none' if no email address.
ADS Page 18 of 19
TIF 2-2
Saint Joseph - TIF 2-2 St. Joseph Meat Market - 2015 Annual Reporting Form
Printed 6/7/2016
I Home_][
Overview j I District Info p Debt II Interfund Loans II PAYG II Project Costs II Transfers II Rev & Exp
II Balance Sheet II
Tax Increment Financing Annual Reporting Form for the Year Ended December 31, 2015
1
TIF District Name TIF 2-2 St. Joseph Meat Market
$ 0
20
2
Develoment Authors Saint Joseph
p tY
21
22
Utilities
_.............................................................. ......................................................
Other public improvements
3
District Type Economic Development
Construction of affordable housing
$ 0
4
County Where TIF District is Located Stearns
............. _ �_.
$ 0
25
5
County Identification Number, if any 0149
26
Estimated Tax Increment Project Costs
6
._...... ......... _..._... ......... ......... .........
Is the small city exception being used? No
Estimated financing costs
7
Is this TIF district in a fiscal disparities area? No
17,000
28
8
If, yes, under what options Not Applicable
04/21/2011
Original TIF Plan Information
ESTIMATED FINANCING
TIF Plan Approval Date:04/21/2011
.................................................................................. ...... ..........,....
..
j 10
Certification Request Date
04/21/2011
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)
_
141
Tax increment revenues distributed from the county
........................................................................................................................................._...........................................,.
$ 85,894
15
Interest and investment earnings
$ 695
16
Sales/lease proceeds$
0
17
... ............................................................................. ......... .........
Markvalue homestead credit
et
$ 0
18`
Total Estimated Tax Increment Revenues
86,5890
Overview Page 1 of 19
ESTIMATED PROJECT/FINANCING COSTS (to be paid or financed with tax increment)
Project costs
19
Land/building acquisition
$ 0
20
Site improvements preparation costs
....._._ .......... ......... ........_._....................
.......................
$ 50,000
21
22
Utilities
_.............................................................. ......................................................
Other public improvements
$ 0
$ 11,000
23
Construction of affordable housing
$ 0
24
_..... ...
Small city authorized costs..., if not already included above
............. _ �_.
$ 0
25
..Admirnstrative costs ...................................._._._...._........................................... _........... ...........,..,.
.......... .................... ......... .............
.. ....................... 11
$ 8,589
26
Estimated Tax Increment Project Costs
$ 69,5$9
Estimated financing costs
27
Interest expense „„_.............................................
17,000
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
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
I _Home II Overview II District info II Debt II Interfund Loans II PAYG 11 Project Costs II Transfers II Rev &°Exp 11 Balance Sheet II EIC II AC
Revenues, Expenditures, and Changes in Tax Increment Balance
A B C
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
4Loan/advance repayments $ 0 $ 0 $ 0
5 Lease proceeds $ 0 $ 0 $ 0
6 Repayments or return of tax increment per agreements $ 0 $ 0 $' 0
Total Revenues $ 7,754 $ 3,961 $ 11,715
EXPENDITURES _
18 i Pro)ect costs (other than PAYG) $ 791 , $— 55 i 846
j 9 ` Tax increment returned to the county $ 0 $ 0 f $ 0
Bond Payments
Principal
14 Payments for PAYG note or contract $ 110_39 r $ 781 ( $ 1,820
11 Payments on all other TIF bonds 0 ;_� $ 0
Interest
12 Interest on PAYG $ 6,325 $--2,980 11 $ 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
18i Revenues over (under) expenditures $ (401) 145 $ 256)'
UUMInen[s
14
Rev & Exp Page 15 of 19
OTHER SOURCES AND USES
17
Transfers in
$
0
$ 0
$
0
18
Transfers out
$
0
$ 0
$
0
r
TIF Bonds issued otherthan refunding bonds)
(other .. . g ....
$
0
$ 0
$
0'
20I
Refunding TIF bonds issued
$
0
$ 0
$
0
21 '
TIF Bonds refunded ...
......... _...
$
0
$ 0
$
0
222'
3
TIF Bond discount
$
0
$ _0
$
0
---1
TIF Bond premium
...... P . ....... ..... ... .......
..........
$
0
$ 0
$
0
24
Sales of property ..................... ... .
_
$
0
$ 0
$
0 .
25
Other see instructions, comment required)
$
0
$ 0
$
0
26 (
Total Other Sources and Uses$
0
$ 0-
$
0
r-- -
7 ?
Net change m tax balances
- x increment_ ....
(401)
$' � 1�
$ (2666
128
Tax Increment balance (beginning 01/01/2015)
$ 401'
291
Tax Increment balance (ending 12/31/2015)
$ (256
UUMInen[s
14
Rev & Exp Page 15 of 19
TIF 2-2
Saint
Printed 6/7/2016
ph - TIF 2-2 St. Joseph Meat Market - 2015 Annual Reporting Form
,rview District Info Debt Interlund Loans PAYG Project Costs TraT -Rev
Balance Sheet
A -- �['B_
12/31/2014 12/31/2015
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 $ Sooj
TAX INCREMENT BALANCE
17 Total Tax Increment Balance $ 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
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)
WWI
10
I1
12
13
14
15
ail.
17'
18
19
The following information represents the annual disclosure of tax increment districts for the year
ended December 31, 2015.
Current net tax capacity
J
On anal net tax ca cit
.. ...........................Pa.. Y.,.... , ...................,.,,......._.._................. ............ 1111.
Captured net tax capacity
.........................................
Principal and interest payments due in 2016
..................................................................................................
Tax increment received in 2015
...............................................................................................................................................................
Tax increment expended in 2015
Month and year of first tax increment receipt
Date of required decertification
The total increased property taxes to be paid from outside the district if
fiscal disparities Option A applies*
TIF 2-2 St. Joseph Meat
Market
$
10,772
$ „
$
$
1.111..,. 7,626
3,146
4;113
$
3,961
$
3,816
Zip Code:
07/2013
..1...1.11 ..................
Phone:
12/31/2021
* 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:
Name:
Lori Bartlett
.................................
Address:
PO Box 668
City;
Saint Joseph
State:MN
Zip Code:
56374
..1...1.11 ..................
Phone:
(320) 363-7201
Email:
Lbartiett(a cityo
Enter as 6512962551.
Enter 'none' d no email address.
B,
ADS Page 18 of 19
TIF 2-3 Printed 6/7/2016
Saint Joseph - TIF 2-3 Bavou Blues - 2015 Annual Reoortina Form
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
5County Identification Number, if any
6 ; Is the small city exception beingused Not Applicable
7 Is this TIF district in a fiscal disparities area? No
j 8 If yes under what options Not Applicable
Original TIF Plan Information
9- TIF Plan Approval Date: 11/10/2014
10Certification Request Date:05/27/2015 j
............................ .... ........................
11 Certifi.11.11.111111cation Date 06/10/2015
District Duration
12 Month and year of first receipt of tax increment (actual or anticipated): 07/2017
Required Decertification Date: 12/31
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 city authorized costs if not already included above
tY .......... ......... 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 11 Overview p District Info II Debt 11 Interfund Loans 11 PAYG 11 Project Costs 11 Transfers II Rev & Exp''11 Balance Sheet 11 EIC 11 A[
Revenues, Expenditures, and Changes in Tax Increment Balance
.._
...........p`.... _....._ _.__B ... i C
Total Through
Prior Years 2015 Amount 2015
REVENUES
4 Tax increment revenues distributed from the county
2 1 Interest and investment earnings„
3TIF Credits
....r. .....
4 Loan/advance repayments
Lease proceeds
i 6 1 Repayments or return of tax increment per agreements
71 Total Revenues
$ 0 $ 0 $ 0
$ 0 $ 0 $. 0
$. 0 $..._ 0 $ 0
$___...._._ o. $ �___.__._...o_. $ U
$ 0 $ 0 $ 0
$ Is 0 $ 0
EXPENDITURES
8 Protect costs (other than PAYG) $ 0263 { $ 4,263
Tax increment returned to the county $ 0 0 l $ 0
Bond Payments
Principal
Payments for PAYG note or contract
-1111111
Payments on all other TIF bonds
Interest
Interest on PAYG
Interest on all other (TIF and Non TIF) bonds
Interest on interfund loans
Total Expenditures
........ $$ 0 $ 0
$ 0 f-�-o
$ 0
........... ..................
$ 0 $ 0
$ 0 $ 0
$ 0 $ 4,263 $ 4,263
Revenues over (under) expenditures1 $ 0 is (4,263) 1 $ 4,263
mens tauu cnaracter um
Rev & Exp Page 15 of 19
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
I
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 $
is (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)
mens tauu cnaracter um
Rev & Exp Page 15 of 19
Printed 6/7/2016
Saint Jose
- 10F 2-3 Bayou Blues - 2015 Annual Reportinci Form
Balance Sheet
LIABILITIES
10 �QPDue hnother TIF districts
---------------------------------------------------------'
ill Ouehnnon-b*x/ncremendmccounts
-------------------------.............. -----------........................... '...
----
�Accouma'payable -- ---- ------�----�--'---------'--�-- --'
13 Uneomedmvanmo
[��l ----------------------'-------'--------------------------'
Toto|L�bi|�ma
Dnh�red|nOowo� �00 1 1 �$�5,zooj
P11r5', ------,------------------�--'----'-------'-----------�---
�Total _Liabilities �and _Deferred Inflows
_____________________
TAX INCREMENT BALANCE
Total Tax Increment Balance $ 0 $ (4,263)
F��| 'Total Liabilities and Tax Increment Balance
_
Balance Sheet Page 1Sof19
12/31/2014
12/31/2015
ASSETS
-----'---------------------------------------------'
------na��
/nv�oh
Due from other TIF disthcto
A
________________________..... ............
Due from non -tax increment mcuuVnt3-------------�------------�
___.......... ___�_
faxes -receivable
_����� ������������� �������_����
Other receivables
�����
8
--------------------------------------------------
r �����a ........ ---.................
a[�� -----T�*"��pp��-.......
-'
............. .........................
------..........
is 0
F$ 7371
LIABILITIES
10 �QPDue hnother TIF districts
---------------------------------------------------------'
ill Ouehnnon-b*x/ncremendmccounts
-------------------------.............. -----------........................... '...
----
�Accouma'payable -- ---- ------�----�--'---------'--�-- --'
13 Uneomedmvanmo
[��l ----------------------'-------'--------------------------'
Toto|L�bi|�ma
Dnh�red|nOowo� �00 1 1 �$�5,zooj
P11r5', ------,------------------�--'----'-------'-----------�---
�Total _Liabilities �and _Deferred Inflows
_____________________
TAX INCREMENT BALANCE
Total Tax Increment Balance $ 0 $ (4,263)
F��| 'Total Liabilities and Tax Increment Balance
_
Balance Sheet Page 1Sof19
TIF 2-3
Printed 6/7/2016
Saint Joseph - TIF 2-3 Bayou Blues - 2015 Annual Reporting Form
Home 1 Overview 1 Fb-istrict _1nfoT_De_bt11 Interfund Loans PAY_ 11 P r o i e c t Costs Transfers 1 FR—e—v —&—E x o r I
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)
4
5
6
7
8;
9
10
11
12
14
i5-
16
17
18
19
The following information represents the annual disclosure of tax increment districts for the year
ended December 31, 2015.
Current net tax capacity
Original net tax capacity
Captured net tax capacity
_
..........
Principal and interest payments due in 2016
..............................................................................................................................................................
Tax increment received in 2015
..............................................................................................................................................................
Tax increment expended in 2015
Month and year of first tax increment receipt
Date of required decertification
..................................................................................................................................................
The total increased property taxes to be paid from outside the district if
fiscal disparities Option A applies*
.........
TIF 2-3 Bayou Blues
$2,427
Lori Bartlett
$ _
2,427
$
0
$
0
$
4,263
07/2017
12/31/2042
$ 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:
Name:
Lori Bartlett
Address:
PO Box 668
City; „
Saint Joseph
State:
MN
Zip Code:
56374
Phone:
.......................
(320) 363-7201
Email:
Lbartletta_cityo
Enter as 6512962551.
Enter none' if no email address.
ADS Page 18 of 19
TIF 3-1
Saint Joseph - TIF 3-1 Central MN Credit Union - 2015 Annual Reporting Form
Printed 6/7/2016
I Home
11 Overview jj District Info II Debt II Interfund Loans II PAYG II Project Costs II Transfers II Rev & Exp II Balance Sheet II
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
3
Development hori
Autty Saint Joseph
District Type Economic Development
4
County Where TIF District is Located: Stearns
�. _.....__........
5
County Identification Number if any.
i
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
9.
TIF Plan Approval Date
03/16/2015 5
10
Certification Request Date
05/28/2015_
11
.... .........
Certification Date
......... ............ ...... ................... ........ ...... ... ...... .......... .......,., ............
06/30/2015
District Duration
2
Month and year of first receipt of tax increment (actual or anticipated):
07/2017
13
Required Decertification Date
E2/31/202
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
17
.......s.._ ........................ ... _................................................,......................... ............................... ................
Market value homestead credit
$ 0
18
.........
................................_._..............i..........................,.._................... .............,..,..............................._..........._..
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 1. 11 11.11,11.11.11
$ 45,551
Estimated Tax Increment Project Costs
$ 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
....... _............... ..... _.............. _..,............... _......... ............ _........,.. _..............
��'
�$ 333, 818 j
Overview Page 1 of 19
TIF 3-1
Saint Joseph - TIF 3-1 Central MN Credit Union - 2015 Annual Reporting Form
Printed 6/7/2016
Home 11 Overview p District Info p Debt II Interfund Loans 11 PAYG 11 Project Costs 11 Transfers II Rev &;Exp 11 Balance Sheet 11 EIC II AC
Revenues, Expenditures, and Changes in Tax Increment Balance
.
A.._.__.j .m- _B_ .......! l.. __.....� ..._..._
Total Through
REVENUES
i Tax increment revenues distributed from the county $ 0 $ 0 $ 0
2 Interest and investment earnings $ 0 $ 0 $ 0
TIF Credits $ 0 $ 0 $ 0-
4 Loan/advance repayments $ 0 $ 0 $ 0
Lease proceeds $ 0 $ 0 $ 0
6 Repayments or return of tax increment per agreements $ 0 $ 0 $ 0
Total„Revenues
$ 0 $: 0 $ 0
EXPENDITURES
Protect costs (other than PAYG) $ mm 0 $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 $0 $ 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 1 $ (5,59
28 Tax Increment balance (beginning 01/01/2015)
129 Tax Increment balance (ending 12/31/2015)
commems kouu unaractei
$ 0
$ 0
$ 0
$ 0
$ 0
$ 0'
$ 0
$ 0
$ 0
$ 0
$ 0
$ 0
$ 0
$ 0
$ 0-
$ 0
$ 0
$ 0
$ 0
$ 0
$ 0
$ o
$ o
$ o
Is 0
$ 0
$ 0
$ o
1 $ 0
is o
! $ 0 Is (5,597) 1 $ (5,597)
$' 0
is (5,597)
Rev & Exp Page 15 of 19
TIF 3-1
-l0F 3-1 Central MNCredit Union - 2015 AnnuaKRer)ortinq Form
Balance Sheet
Printed 6/7/2016
12/31/2014
12/31/2015
151 Deferred Inflows
E16 ----------
------------------------------------------
abilities and Deferred Inflows 1 $ 01 1$ 6,000
TAX|NCREMENTBALANCE
F�� Total Tax Increment Balance
E8 'Total Liabilities and Tax Increment Balance
Balance Sheet Page 10of19
LIABILITIES
Due toother TIF districts
11
12
---'----------'----------------------'---------------'
Due hononb
'axincrumoacuu
,�o�o
'----------'-----'------................... ...... -... -........... .... ...................
Accounts
... ....... --'
'payable _____________________________________
Unearned revenue ........ ...........
---------........... -..........................................................
-----------
----'�
151 Deferred Inflows
E16 ----------
------------------------------------------
abilities and Deferred Inflows 1 $ 01 1$ 6,000
TAX|NCREMENTBALANCE
F�� Total Tax Increment Balance
E8 'Total Liabilities and Tax Increment Balance
Balance Sheet Page 10of19
TIF 3-1 Printed 6/7/2016
Saint Joseph - TIF 3-1 Central MN Credit Union - 2015 Annual Renortina Form
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)
4
5
6
7
8i
9
10
11
12
13
14
15
17
18
19
The following information represents the annual disclosure of tax increment districts for the year
ended December 31, 2015.
Current net tax capacity
..........................................................................................................................
Original net tax capacity
Captured net tax capacity
.........................................................._
......................._......................................_..
Principal and interest payments due in 2016
.......................................................................................................
Tax increment received in 2015
...............................................................................................................................................................
Tax increment expended in 2015
.....................
Month and year of first tax increment receipt „
Date of required decertification
The total increased property taxes to be paid from outside the district if
fiscal disparities Option A applies"
.......................................................................
TIF 3-1 Central MN
Credit Union
$ �
7,460
$
7,460
$
0
$
0
$
0
$
5,597
Email:
07/2017
12/31/2025
$ 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:
Name:
Lori Bartlett
Address:
PO Box 668
c11i�ty........ ........ ........
Saint Joseph
State:
MN
..............:..................
Zip Code:
56374
Phone:
(32 0) 363-7201
Email:
LbartlettOcitvo
Enter as 6512962551.
Enter 'none' if no email address.
B<
ADS Page 18 of 19