Laserfiche WebLink
City of Elk River, Minnesota <br /> (e) whether the TIF Plan permits tax increment revenues to be expended for <br /> • activities located outside of the TIF District, and <br /> (f) any additional information that the State Auditor may require. <br /> The City must also annually publish in a newspaper of general circulation in the City an annual <br /> statement for each tax increment financing district showing the tax increment received in that <br /> year, the original and captured net tax capacity, the amount of outstanding bonded <br /> indebtedness, the amount of increments paid to other governmental bodies, the amount paid <br /> for administrative costs, the sum of increment paid, directly or indirectly, for activities and <br /> improvements located outside of the district, the increase in property taxes if a fiscal disparity <br /> contribution is being made from outside of the district, and any additional information the City <br /> deems necessary. The City must publish the annual statement by August 1 of the next year <br /> and must provide a copy to the State Auditor by the time it submits the annual statement for <br /> publication. <br /> The reporting and disclosure requirements outlined in this section shall begin with the year the <br /> district was certified, and shall end in the year in which both the district has been decertified and <br /> all tax increments have been spent or returned to the county for redistribution. Failure to meet <br /> these requirements, as determined by the State Auditors Office, may result in suspension of <br /> distribution of tax increment. <br /> • <br /> SPRINGSTED Page 14 <br />