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City of Lino Lakes, Minnesota <br />Management Report, Page 34 <br />Tax Increment Financing #1 -4 <br />The City established Tax Increment District #1-4 during 1990 by resolution 10 -90. District <br />#1-4 is an Economic Development District. The duration of the district is eight years from the <br />date of the receipt of the first increment or ten years from the date of approval of the TIF plan. <br />At December 31, 1996 this fund had a deficit balance of $4,460. <br />District #1-4 has anticipated project requirements as follows: <br />Estimated Actual <br />Land acquisition $435,000 $ <br />Public improvements 1,115,000 <br />Administrative 110,000 63,723 <br />Bond discount 40,000 - <br />Capitalized interest 360,000 <br />Total $2,060,000 $63,723 <br />During 1996, the City transferred $22,122 to TIF #1-4 from TIF #1 -1 for past years <br />administrative costs that will not be recovered. <br />Tax Increment Financing #1 -5 <br />The City established Tax Increment District #1 -5 pursuant to MS 469.174 Subdivision 11 <br />which qualifies it as a Housing District. The duration of the District is twenty -five years from the <br />date of the first increment. The plan for District #1 -5 was approved and adopted on December <br />14, 1992. <br />Tax Increment Financing #1 -6 <br />District #1-6 is an Economic Development district and was established in August, 1994. The <br />duration of the district is 10 years. <br />