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CAPITAL PROJECT FUNDS-TIF <br />2020 expenditures in this district include the annual Lodge PAYGO note repayment per the terms outlined in the <br />development agreement. This PAYGO Note is expected to be repaid in 2027. <br />TIF 5-1 (St. Jude) (Fund 460): <br />Required Decertification Date: 12/31/2025 <br />District Type: Renewal and Renovation District <br />TIF 5-1 was established in 2007 to facilitate the development of approximately 9.995 net acres located off of <br />Rice Street and County Road B2 by St. Jude Medical, and to facilitate the construction of various public <br />improvements located at the corner of Highway 36 and Rice Street. (This information is from the TIF Plan <br />completed by Ehlers in 2016). <br />2020 expenditures in this district include the annual transfer to the 2015A Refunding Bonds (320) for the debt <br />service payment. These bonds were issued for development and construction costs related to TIF 5-1. This debt <br />will be retired in 2026. In addition to this debt, this district has a PAYGO Note to St. Jude Medical in the amount <br />of $475,757. This debt is subordinate to the bonds. <br />TIF 6-1 (Masterpiece Homes) (Fund 470): <br />Required Decertification Date: 12/31/2039 <br />District Type: Redevelopment District <br />TIF 6-1 was established in 2009 (first increment received in 2014) to aid in the acquisition and ultimate <br />development of property at 2966 Arcade Street. (This information is from the TIF Plan completed by Ehlers in <br />2016). <br />2020 expenditures in this district include the annual interfund loan payment that was issued for development <br />costs related to TIF 6-1. The outstanding loan amount at the end of 2019 is approximately $550,000. <br />TIF 7-1 (Suite Living) (Fund 471): <br />Required Decertification Date: anticipated to be 12/31/2045 <br />District Type: Redevelopment District <br />TIF 7-1 was established in 2018 to facilitate the construction of 32 units of senior assisted-living apartments with <br />additional development in the City. <br />2020 expenditures in this district include the annual interfund loan interest payment that was issued for <br />administration costs related to TIF 7-1. <br />TIF 7-2 (Bix) (Fund 472): <br />Required Decertification Date: anticipated to be 12/31/2028 <br />District Type: Economic Development District <br />TIF 7-2 was established in 2018 to facilitate expansion of an existing facility for a food processing and <br />distribution facility. <br />2020 expenditures in this district include the annual interfund loan interest payment that was issued for <br />administration costs related to TIF 7-2. Per the development agreement, City administration costs will be billed <br />and paid for by the developer. Per the Development Agreement, payments to the developer will begin in 2021. <br />80