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City of Lino Lakes, Minnesota <br />Management Report, Page 38 <br />- Financing of public improvements for existing developed areas pursuant to <br />Minnesota Statutes Chapter 429. <br />- Financing of public improvements in undeveloped areas. <br />- City- financed improvements - new subdivisions. <br />- Developer- financed improvements. <br />- Required public improvements. <br />- Trunk sewer area and connection charges. <br />- Trunk water main area and connection charges. <br />- Special assessment procedures. <br />We commend the City for the adoption of this policy and recommend the monitoring of <br />procedures to assure that the policy is adhered to. <br />Economic Development District #1 <br />On January 26, 1987 the City established the Economic Development District #1. <br />Within the District, the City established Housing District #1 -1. The housing plan calls <br />for adequate numbers of low to moderate housing units pursuant to MS 273.73 subd. 11. <br />The Housing District #1 -1 has anticipated projects/bonding requirements as follows: <br />Public Improvements <br />Legal, Planning, Fiscal and Contingency <br />Capitalized Interest and Bond Discount <br />$ 974,094 <br />25,000 <br />216,404 <br />Estimated bond issue $ 1,200,000 <br />The above bonding was estimated for the Rice Lake Estates special assessment pro- <br />ject. That project is now complete. The tax increments generated from the Housing <br />District will be available to subsidize debt service (if required) or will be available <br />for future extensions of the overall construction within the District. <br />