Annual Financial Report 12/31/1989

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Page 20 of 21 CITY OF LINO LAKES, MINNESOTA NOTES TO FINANCIAL STATEMENTS December 31, 1989 NOTE 11 TAX INCREMENT DISTRICTS The City of Lino Lakes is the administrating authority for Economic Development District #1 established under MS 273.71 in 1987. Within the Economic Development District are the following Tax Increment Financing Districts. As of December 31, 1989 the City has not issued Tax Increment bonds for any of it's Tax Increment Districts. Housing District #1 -1 was established under MS 273.73 subd. 11 in 1987. The duration of the district is 25 years. Current tax capacity $136,762 Original tax capacity 2,311 Captured tax capacity $134,451 Retained by authority $132,500 Shared with other taxing districts 1,951 Total $134,451 District #1 -2 was established pursuant to MS 469.174, subd. 12 which qualifies it as a Economic Development TIF district. The duration of the district is eight years from the date of the receipt of the first increment or ten years from the date of approval of the TIF plan, whichever comes first. Current tax capacity $11,313 Original tax capacity 5,767 Captured tax capacity $5,546 Retained by authority $2,719 Shared with other taxing districts 2,827 Total $5,546 District #1 -3 was established pursuant to MS 469.174. The duration of the district is 25 years from the date of the fast increments. Current tax capacity $4,045 Original tax capacity 4,045 Captured tax capacity $0 Retained by authority $0 Shared with other taxing districts 0 Total $0 The City of Lino Lakes has not filed Tax Increment District #1-4 with Anoka County as of December 31, 1989.