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City of Lino Lakes, Minnesota <br />Management Report <br />Capital Project Funds <br />Tax Increment Financing #1-1 <br />On January 26, 1987 the City established the Economic Development District #1. Within <br />the District, the City established Housing District #1-1. The housing plan calls for adequate <br />numbers of low to moderate housing units pursuant to MS 273.73 subd. 11. <br />Financial activity of this fund from inception is as follows: <br />Prior <br />Years 1997 Total <br />Revenue and other sources: <br />Tax increments $1,479,596 $242,345 $1,721,941 <br />HACA 8,683 8,683 <br />Interest on investments 220,066 5,039 225,105 <br />Total revenue and other sources $1,708,345 $247,384 1,955,729 <br />Expenditures and other uses: <br />Transfer to TIF 1-3 $9,484 $ - 9,484 <br />Transfer to TIF 1-4 22,122 22,122 <br />Administrative fee 41,093 41,093 <br />Developer assistance 170,350 170,350 <br />Professional services 16,795 2,087 18,882 <br />Transfer to Area and Unit Fund 1,097,491 - 1,097,491 <br />Transfer to Special Revenue Fund 3,111 3,111 <br />Total expenditures and other uses $1,360,446 $2,087 1,362,533 <br />Residual equity transfer - Town Center Infrastrucutre (593,196) <br />Fund balance - December 31, 1997 $0 <br />The developer assistance consisted of payments to developers for pending improvements. <br />The transfer to the Area and Unit Charge Fund represents a partial reimbursement for the West <br />Central Trunk sewer main related to Rice Lake Estates. <br />This District was decertified in 1997. The remaining funds were transferred to the Town <br />Center Infrastructure Fund. <br />Page 50 <br />