Laserfiche WebLink
INNIOr <br />CITY OF LINO LAKES, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 1992 <br />Page 17 of 19 <br />District #1 -2 was established pursuant to MS 469.174, subd. 12 which qualifies it as an Economic <br />Development TIF district. The duration of the district is eight years from the date of the receipt of the <br />first increment or ten years from the date of approval of the TIF plan, whichever comes first. <br />Current tax capacity $116,095 <br />Original tax capacity 8,138 <br />Captured tax capacity $107,957 <br />Retained by authority $107,957 <br />Shared with other taxing districts 0 <br />Total $107,957 <br />District #1 -3 was established pursuant to MS 469.174, subd. 10(a)(2) which qualifies it as a <br />redevelopment district. The duration of the district is 25 years from the date of the first increments. <br />Current tax capacity $3,738 <br />Original tax capacity 8,591 <br />District #1-4 was established pursuant to MS 469.174 subd. 12 which qualifies it as an Economic <br />Development TIF District. The duration of the District is eight years from the date of the receipt of the <br />first increment or ten years from the date of approval of the TIF Plan, whichever comes fast. <br />Current tax capacity $46,847 <br />Original tax capacity 119,555 <br />District #1 -5 was established pursuant to MS 469.174, Subd. 11 which qualifies it as a Housing <br />District. The duration of the District is 25 years from the date of the first increments. <br />The plan for District #1 -5 was approved and adopted on December 14, 1992. As of December 31, 1992 <br />this District has not been certified with Anoka County. <br />Note 12 DEFICIT FUND BALANCES /RETAINED EARNINGS <br />The City has deficit fund balances at December 31, 1992 as follows: <br />Special Revenue Fund: <br />Economic Development Authority <br />Fund <br />Deficit <br />$190 <br />Capital Project Funds: <br />Community Development Block Grant 9,800 <br />Interim Construction 266,410 <br />1991 Construction 208,745 <br />1993 Construction 170,092 <br />Industrial Park Construction 73,901 <br />Apollo Drive Construction 117,156 <br />Tax Increment Financing 1 -3 17,893 <br />Tax Increment Financing 1-4 13,399 <br />Enterprise Funds: <br />Gas Utility <br />49 <br />