Financial Analysis & Management Considerations Report 12/31/1997

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City of Lino Lakes, Minnesota Management Report Capital Project Funds Tax Increment Financing #1 -5 The City established Tax Increment District #1 -5 pursuant to MS 469.174 Subdivision 11 which qualifies it as a Housing District. The duration of the District is twenty-five years from the date of the first increment. The plan for District #1 -5 was approved and adopted on December 14, 1992. Tax Increment Financing #1 -6 District #1 -6 is an Economic Development district and was established in August, 1994. The duration of the district is 10 years. Tax Increment Financing #1 -7 District #1 -7 is an Economic Development district and was established in May, 1995. A •- schedule of budgeted and actual transactions for this district is as follows: Amended Budget Actual Revenue: Tax increments $1,511,700 $56,008 Refunds - 15,900 Total revenue $1,511,700 71,908 Expenditures: Land acquisition $964,300 204,758 Public improvements 465,400 181,475 Administrative 82,000 122,435 Total expenditures $1,511,700 508,668 Fund balance (deficit) - December 31, 1997 ($436,760) Tax Increment Financing #1 -8 District #1 -8 is an Economic Development district established in September, 1997. The duration of the district is 25 years.