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limmr <br />WIMP <br />City of Lino Lakes, Minnesota <br />Management Report, Page 36 <br />Apollo Drive Construction <br />This fund was established in 1992 to account for improvements to Apollo Drive. During 1992 <br />the City transferred $14,790 from the Apollo Drive Fund to the Interim Construction Fund for <br />reimbursement of prior years' construction costs. Financing for this project is being provided <br />primarily through MSA Construction allotments. Upon completion of the project the County will <br />purchase the road from the City. <br />1993 Construction <br />This fund accounts for costs incurred with the Wenzel Farms Third Addition and Brandywood <br />Second Addition improvements. The financing of these projects will be obtained through the <br />issuance of bonds in 1993. <br />Economic Development District #1 <br />On January 26, 1987 the City established the Economic Development District #1. Within the <br />District, the City established Housing District #1 -1. The housing plan calls for adequate numbers <br />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 1992 Total <br />Revenue and other sources: <br />Tax increments $454,001 $217,819 $671,820 <br />HACA 8,683 8,683 <br />Interest on investments 39,673 26,600 66,273 <br />Total revenue and other sources 502,357 244,419 746,776 <br />Expenditures and other uses: <br />Professional services 1,964 3,071 5,035 <br />Transfer to Special Revenue Fund 1,586 1,586 <br />Net increase in fund balance $500,393 $239,762 740,155 <br />Fund balance - December 31, 1992 $740,155 <br />