5.0. HRSR 11-25-1996 - Laserfiche WebLink

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• the tax increment financing plan, and the actual amount expended for, at least, the following categories: a. acquisition of land and buildings through condemnation or purchase; b. site improvements or preparation costs; c. installation of public utilities, parking facilities, streets, roads, sidewalks, or other similar public improvements; d. administrative costs, including the allocated cost of the authority; 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 authority and the price paid by developers; 5. the amount of increments rebated or paid to developers or property owners for privately financed improvements or other qualifying costs. Pursuant to Minnesota Statutes, Section 469.175, subdivision 6a, the City or Authority must also annually report to the State Auditor before or on July 1 of each year the following amounts for the entire City: 1. the total principal amount of nondefeased tax increment financing bonds that are outstanding at the end of the previous calendar year; and - 2. the total annual amount of principal and interest payments that are due for the current calendar year on (i) general obligation tax increment financing bonds and (ii) other tax increment financing bonds. • and for each tax increment financing district within the City: 1. the type of tax increment financing district; 2. the date on which the district is required to be decertified; 3. 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 derived from increments and are provided to another governmental unit (other than the municipality)during the preceding calendar year; 4. the tax increment revenues for taxes payable in the current calendar year; 5. whether the tax increment financing plan or other governing document permits increment revenues to be expended outside of the tax increment financing district; 6. any additional information that the State Auditor may require. Copies of this report must also be provided to the county and school district boards. Y. MUNICIPAL APPROVAL Pursuant to Minnesota Statutes, Section 469.175, Subdivision 3, before or at the time of approval of the tax increment financing plan, the municipality shall make the following findings and shall set forth in writing the reasons and supporting facts for each determination. 1. Finding that the Tax Increment Financing District No. 16 is a redevelopment district as defined in Minnesota Statutes,Section 469.175, Subd. 10. •