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• <br />• <br />• <br />City of Lino Lakes, Minnesota <br />The reasons and facts supporting this finding are that the TIF District is <br />properly zoned, and the TIF Plan has been approved by the City Planning <br />Commission and will generally compliment and serve to implement <br />policies adopted in the City's comprehensive plan. <br />(4) The TIF Plan will afford maximum opportunity, consistent with the sound needs <br />of the City as a whole, for the development of the Project Area by private <br />enterprise. <br />(5) <br />The reasons and facts supporting this findingre that the development <br />activities are necessary so that developmand redevelopment by <br />private enterprise can occur within the Pro:. rea. <br />The City elects the method of tax incremen <br />Statutes, Section 469.177, Subdivision 3(b)' <br />Section K Estimated Public Costs <br />tion set forth in Minnesota <br />methq b) in Section P). <br />The estimated public costs of the TIF District listed b <br />reimbursement from tax increments of the TIF Dist <br />Such costs bre eligible for <br />Land /building acquisition 750,000 <br />Site improvements /preparation « s' 0 <br />Public improvements 00,000 <br />Parking Facilities 4 0 <br />Bond principal pa 785,000 <br />Bond interest 475,000 <br />Loan pnnci fi ayments 0 <br />Loan interest ments 0 <br />Administrative e 130,000 <br />Ca ®t1 terest 120,000 <br />tints 'de district 484,000 <br />4,244,000 <br />0 <br />4,244,000 <br />The Authority resery e right to administratively adjust the amount of any of the items listed <br />above or to incorporate additional eligible items, so long as the total estimated public cost is not <br />increased. <br />Section L Estimated Sources of Revenue <br />Tax increment revenue <br />Interest on invested funds <br />Bond proceeds <br />Special assessments <br />2,409,000 <br />50,000 <br />1,785,000 <br />0 <br />SPRINGSTED <br />Page 5 <br />