Laserfiche WebLink
23. AID REDUCTION RESULTING FROM THE ESTABLISHMENT OF A TIF . <br />DISTRICT: Minnesota Statutes, Section 273.1399 requires that a reduction be made to <br />local government aid (and, if necessary, to homestead and agricultwal credit aid) if a <br />reduction in aid results from the establishment of a tax increment financing district. If <br />this provision applies to yow city, the amount of the reduction is listed here. <br />24. FINAL 1996 LOCAL GOVERNMENT AID AFTER REDUCTIONS: This is <br />the total amount of yow .city`s 1996 aid distribution (line 21) minus the reduction far state <br />costs (line 22) and minus the reduction resulting from the establishment of a TIF district <br />(line 23). <br />NOTE: As of this date, any reductions to local government aid due to the establishment <br />of a tax increment financing district (line 23 above) have not yet been determined. When <br />these reduction amounts have been determined, ow office will be sending out revised <br />local government aid certifications to those cities to which this reduction applies. <br />row citys 1996 iocai government aid wiil be paid in two equal installments. The first <br />half installment will be paid on or before July 20, 1996, and the second half installment <br />will be paid on or before .December 26, 1996. <br />Minnesota Statutes, Section 477A.014 provides that a governmental unit may object to <br />the amount. of aid that the Department of Revenue has determined for it. No objection <br />may be raised later than 60 days after receipt of this notice. Such objection should be <br />addressed to Michael P. Wandmacher, Director, Property Tax Division, Minnesota <br />Department of Revenue, Mail Station 3340, St. Paul, MN 55146-3340. <br />If you have any questions regarding this letter, please call me at (612) 296-5.141.. i <br />Sincerely, <br />~~ <br />Lar L. ~ewle <br />ry y <br />Research Analysis Specialist <br />Enclosure <br />• <br />4 <br />