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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 $10,373 <br />Refunds - 3,800 <br />Total revenue $605,000 14,173 <br />Expenditures: <br />Land acquisition $321,000 167,889 <br />Public improvements 260,000 - <br />Administrative 24,000 26,194 <br />Total expenditures $605,000 194,083 <br />Fund balance - December 31, 1996 ($179,910) <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 />$1,450,000 $2,606 <br />Expenditures: <br />Land acquisition $900,000 <br />Public improvements 450,000 <br />Administrative 100,000 6,597 <br />Total expenditures $1,450,000 6,597 <br />Fund balance - December 31, 1996 ($3,991) <br />a. <br />aselt <br />• <br />Aft <br />