04-11-2018 Council Packet - Laserfiche WebLink

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Table of Contents (for reference purposes only) Section 1 - Tax Increment Financing Plan -for Tax Increment Financing District No. .................................... 1 - 1 S u b s e c t i o n 1 - 1 . F o r e w o r d............................................... 1 - 1 S u b s e c t i o n 1 - 2 . S t a t u t o r y A u t h o r i t y........................................ 1 - 1 S u b s e c t i o n 1 - 3 . S t a t e m e n t o f O b j e c t i v e s ................................... 1 - 1 S u b s e c t i o n 1 - 4 . D e v e l o p m e n t P r o g r a m O v e r v i e w ............................ 1 - 1 Subsection 1-5. Description of Property in the District and Property To Be Acquired . 1-2 S u b s e c t i o n 1 - 6 . C l a s s i f i c a t i o n o f t h e D i s t r i c t................................. 1 - 2 Subsection 1-7. Duration and First Year of Tax Increment of the D i s t r i c t........... 1 - 4 Subsection 1-8. Original Tax Capacity, Tax Rate and Estimated Captured Net Tax Capacity Value/Increment and Notification of Prior Planned Improvements ................ 1 - 4 Subsection 1-9. Sources of Revenue/Bonds to be Issued ...................... 1 - 5 Subsection 1-10. Uses of Funds ........................................... 1 - 6 S u b s e c t i o n 1 - 1 1 . F i s c a l D i s p a r i t i e s E l e c t i o n.................................. 1 - 6 S u b s e c t i o n 1 - 1 2 . B u s i n e s s S u b s i d i e s....................................... 1 - 7 Subsection 1-13. County Road Costs ....................................... 1 - 8 Subsection 1-14. Estimated Impact on Other Taxing Jurisdictions ................. 1 - 8 Subsection 1-15. Supporting Documentation ................................ 1 - 1 0 Subsection 1-16. Definition of Tax Increment Revenues ....................... 1 - 1 0 S u b s e c t i o n 1 - 1 7 . M o d i f i c a t i o n s t o t h e D i s t r i c t................................ 1 - 1 1 Subsection 1-18. Administrative Expenses .................................. 1 - 1 1 Subsection 1-19. Limitation of Increment ................................... 1 - 1 2 S u b s e c t i o n 1 - 2 0 . U s e o f T a x I n c r e m e n t .................................... 1 - 1 3 S u b s e c t i o n 1 - 2 1 . E x c e s s I n c r e m e n t s ...................................... 1 - 1 3 Subsection 1-22. Requirements for Agreements with the Developer .............. 1 - 1 5 S u b s e c t i o n 1 - 2 3 . A s s e s s m e n t A g r e e m e n t s ................................. 1 - 1 5 S u b s e c t i o n 1 - 2 4 . A d m i n i s t r a t i o n o f t h e D i s t r i c t ............................... 1 - 1 5 Subsection 1-25. Annual Disclosure Requirements ........................... 1 - 1 5 Subsection 1-26. Reasonable Expectations ................................. 1 - 1 5 Subsection 1-27. Other Limitations on the Use of Tax Increment . ................ 1 - 1 6 S u b s e c t i o n 1 - 2 8 . S u m m a r y.............................................. 1 - 1 7 Appendix A P r o j e c t D e s c r i p t i o n ...................................................... A - 1 Appendix B M a p o f D e v e l o p m e n t D i s t r i c t N o . 7 a n d t h e D i s t r i c t ............................. B - 1 Appendix C Description of Property to be Included in the District ............................ C - 1 Appendix D E s t i m a t e d C a s h F l o w f o r t h e D i s t r i c t ........................................ D - 1 Appendix E Minnesota Business Assistance Form ....................................... E - 1