3.2. SR 07-13-1998 - Laserfiche WebLink

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City of Elk River, Minnesota (c) installation of public utilities, parking facilities, streets, roads, sidewalks, or other similar public improvements; (d) administrative costs, including the allocated cost of the City; and (e) public park facilities, facilities for social, recreational, or conference purposes, or other similar public improvements. (4) for properties sold to developers, the total cost of the property to the City and the price paid by the developer; and (5) the amount of increments rebated or paid to developers or property owners for privately financed improvements or other qualifying costs. Additional information which must be annually reported to the State Auditor, by August 1 of each year, includes: (1) for the entire City: (a) the total principal amount of nondefeased tax increment bonds outstanding at the end of the previous calendar year; and (b) the total amount of principal and interest payments that are due for the current calendar year on tax increment bonds. (2) for each tax increment financing district in the City: (a) the type of district; (b) the date the TIF District is required to be decertified; (c) the amount of any payments and the value of in-kind benefits, such as physical improvements and the use of building space, that are financed with revenues from increments and are provided to another governmental unit during the preceding calendar year; (d) the tax increment revenues for taxes payable in the current calendar year; (e) whether the TIF Plan permits tax increment revenues to be expended for activities located outside of the TIF District, and (f) any additional information that the State Auditor may require. The City must also annually publish in a newspaper of general circulation in the City an annual statement for each tax increment financing district showing the tax increment received in that year, the original and captured net tax capacity, the amount of outstanding bonded indebtedness, the amount of increments paid to other governmental bodies, the amount paid for administrative costs, the sum of increment paid, directly or indirectly, for activities and improvements located outside of the district, the increase in property taxes if a fiscal disparity contribution is being made from outside of the district, and any additional information the City deems necessary. The City must publish the annual statement by August 1 of the next year and must provide a copy to the State Auditor by the time it submits the annual statement for publication. SPRINGSTED Page 14