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City of Lino Lakes, Minnesota <br />Management Report, Page 10 <br />The LGA formula is quite complex. However, an analysis of the components of the formula <br />provides an understanding. The following illustration identifies the components of the LGA <br />formula: <br />fCity Base Aid <br />1993 LGA <br />City Formula Aid <br />• <br />LGA <br />Price Index <br />Change <br />Since 1993 <br />City <br />Revenue <br />Need <br />x <br />City <br />Population <br />City Tax <br />Capacity <br />x <br />Average <br />Tax Rate <br />For all Cities <br />City revenue need is equal to the sum of the following items: <br />3.462312 x Pre -1940 housing percentage <br />+ 2.093826 x Commercial industrial percentage <br />+ 6.862552 x Population decline percentage <br />+ 0.00026 x City population <br />+ 152.0141 <br />= Subtotal <br />x Price index change <br />= City revenue need <br />For 1997, the City's LGA is as follows: <br />City base aid $140,181 <br />City formula aid 14,520 <br />Subtotal 154,701 <br />Less reduction for State costs (203) <br />Less reduction for TIF (4,331) <br />1997 LGA $150,167 <br />