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City of Little Canada, MN Management Review & Analysis – Tax Increment Financing Districts 14 Administrative Expenses Minnesota TIF law defines certain costs to administer and maintain the district as allowable expenses that can be paid for from tax increment revenues. The maximum allowed by State law is either 10% of revenues or expenses, depending on when the District was established. The allowable costs generally include city staff time, legal expenses, financial advisory expenses and publication and reporting expenses. This allows a city to defray documented staff time, such as finance staff, community development staff, and administration. Summary of Tax Increment Funds Available for Administrative Costs District NameDistrict TypeExpected/Actual TermYear2016 7,730$ 3.4% 8,593$ 2.2% 7,352$ 6.7% 7,242$ 11.8% 7,909$ 171.9%‐$ N/A‐$ N/A‐$ N/A38,826$ 2017 6,431 3.6% 4,875 2.2% 5,941 6.5% 5,510 10.7% 4,866 83.7%‐ N/A‐ N/A‐ N/A27,623 2018 2,828 3.7% 3,311 2.3% 4,341 6.1% 4,379 9.6% 3,548 53.0% 12,619 N/A 8,300 N/A‐ N/A39,326 2019 1,948 3.7%‐ 2.1% 4,530 5.6% 3,962 8.8% 2,001 38.3% 2,335 N/A (6,345) N/A‐ N/A8,431 2020 1,677 3.8%‐ 2.0% 5,759 5.2% 3,159 8.2% 2,486 30.4% 3,584 95.0% 2,841 78.8%‐ N/A19,506 2021‐ 3.8%‐ 2.0% 27,702 5.7%‐ 7.5%‐ 24.7% 6,671 24.5% 4,681 14.7% 20,000 100.0%59,054 2022‐ 3.8%‐ 2.0% 27,702 6.1%‐ 6.9%‐ 20.8% 6,671 17.1% 4,681 11.5%‐ 100.0%39,054 2023‐ 3.8%‐ 2.0% 27,702 6.5%‐ 6.4%‐ 18.0% 6,671 14.3% 4,681 10.4%‐ 100.0%39,054 2024‐ 3.8%‐ 2.0% 27,702 6.8%‐ 5.9%‐ 15.9% 6,671 12.8% 4,681 9.8% 7,577 28.2%46,631 2025‐ 3.8%‐ 2.0% 27,702 7.0%‐ 5.5%‐ 14.2% 6,671 11.9% 7,822 17.8%42,195 2026‐ 3.8%‐ 2.0% 27,702 7.2%‐ 5.5%‐ 12.8% 6,671 11.3% 8,074 14.4%42,447 2027‐ 3.8%‐ 2.0% 27,702 7.4%‐ 5.5%‐ 11.7% 6,671 10.8% 8,333 12.6%42,706 2028‐ 3.8%‐ 2.0% 27,702 7.6%‐ 5.5%‐ 10.7% 6,671 10.5% 8,601 11.6%42,974 2029‐ 3.8%‐ 2.0% 27,702 7.7%‐ 5.5%‐ 10.7% 6,671 10.2% 8,876 10.9%43,249 2030‐ 3.8%‐ 2.0%‐ 5.5%‐ 10.7% 6,671 10.0% 9,160 10.4%15,831 2031‐ 3.8%‐ 2.0%‐ 5.5%‐ 10.7% 6,671 9.8% 9,452 10.0%16,123 2032‐ 3.8%‐ 2.0%‐ 5.5%‐ 10.7% 6,671 9.7% 9,752 9.7%16,423 2033‐ 3.8%‐ 2.0%‐ 5.5%‐ 10.7% 6,671 9.5%6,671 20346,671 9.4%6,671 20356,671 9.3%6,671 20366,671 9.3%6,671 20376,671 9.2%6,671 20386,671 9.1%6,671 20396,671 9.1%6,671 20406,671 9.0%6,671 20416,671 9.0%6,671 20426,671 8.9%6,671 20436,671 8.9%6,671 20446,671 8.8%6,671 20456,671 8.8%6,671 TIF District 6‐1 Masterpiece HomesTIF District 7‐1 Suite LivingTIF District 7‐2 Bix ProduceTIF District 7‐312/31/2024 12/31/2032RedevelopmentEconomic DevelopmentEconomic DevelopmentRedevelopment12/31/2028 12/31/2045TIF District 2‐1 Kandace HeightsTIF District 3‐2 Rice St. RedevelopmentACTUAL PROJECTED EXPENSESTIF District 5‐1 St. Jude Medical12/31/2016 9/27/2017 12/31/2029Total Admin. Costs by YearRedevelopment Redevelopment HousingRenewal and RenovationTIF District 3‐3 The Lodge / Garden Terrace12/31/2025
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