HomeMy WebLinkAbout[06a] TIF Reports
EDA Agenda Item 6a
MEETING DATE: June 21, 2017
AGENDA ITEM: 2016 Annual TIF Reports
SUBMITTED BY: Finance
BOARD/COMMISSION/COMMITTEE/COUNCIL RECOMMENDATION: N/A
PREVIOUS EDA ACTION: None
BACKGROUND INFORMATION: Annually the EDA and City must report a summary of the
activity in each tax increment fund to the State Auditor whether or not the projects are completed. For
2016, the reports include five reports for the following TIF projects:
TIF 1-4 St. Joseph Development, LLC
TIF 2-1 Millstream Shops and Lofts
TIF 2-2 St. Joseph Meat Market
TIF 2-3 Bayou Blues and Alley Flats
TIF 3-1 Central MN Credit Union Call Center
TIF 1-4 has been decertified; however, the City must report annually until the forgivable loans for the
Meat Market and Bello Cucina are paid off in 2021.
TIF 4-1 Fortitude Senior Housing was certified in May 2017. TIF reports will follow in later years.
The attached TIF forms are a portion of the reporting form required by the State Auditor. Complete
forms are available at city hall.
BUDGET/FISCAL IMPACT: For Information Only
ATTACHMENTS: Request for EDA Action – Annual TIF Reports
TIF 1-4 St. Joe Development, LLC
TIF 2-1 Millstream Project
TIF 2-2 St. Joseph Meat Market
TIF 2-3 Bayou Blues
TIF 3-1 Central MN Credit Union
REQUESTED BOARD ACTION: Consider Council recommendation to submit the required TIF
reports to the State Auditor as presented.
Enter as 6512962551.
Enter 'none' if no email address.
Enter as 6512962551.
Enter 'none' if no email address.
Enter as 6512962551.
Enter 'none' if no email address.
Enter as 6512962551.
Enter 'none' if no email address.
Enter as 6512962551.
Enter 'none' if no email address.