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City of Lino Lakes, Minnesota <br />Management Report, Page 35 <br />Tax Increment Financing #1 -7 <br />District #1 -7 is an Economic Development district and was established in May, 1995. A <br />schedule of budgeted and actual transactions for this district is as follows: <br />Budget Actual <br />Revenue: <br />Tax increments $605,000 $ - <br />Refunds - 300 <br />Total revenue $605,000 300 <br />Expenditures: <br />Land acquisition $321,000 137,889 <br />Public improvements 260,000 - <br />Administrative 24,000 20,264 <br />Total expenditures 8605,000 158,153 <br />Fund balance - December 31, 1995 (8157,853) <br />Tax Increment Financing #3 -1 <br />District #3 -1 is an Economic Development district and was established in June, 1995. The <br />duration of the district is 11 years. This district includes the Clearwater Creek Development <br />Center. A summary of budgeted financial activity for this district is as follows: <br />Revenue: <br />Tax increments <br />Budget Actual <br />81,450,000 $ - <br />Expenditures: <br />Land acquisition $900,000 <br />Public improvements 450,000 <br />Administrative 100,000 5,381 <br />Total expenditures $1,450,000 5,381 <br />Fund balance - December 31, 1995 ($5,381) <br />