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City of Mounds View TIF District No. 1 Modification 26 | P a g e 2. The captured tax capacity value of the district, including the amount of any captured tax capacity value shared with other taxing districts; 3. The outstanding principal amount of bonds issued or other loans incurred to finance project costs in the district; 4. For the reporting period and for the duration of the district, the amount budgeted under the tax increment financing plan, and the actual amount expended for, at least, the following categories: (A) Acquisition of land and buildings through condemnation or purchase; (B) Site improvements or preparation costs; (C) Installation of public utilities or other public improvements; (D) Administrative costs, including the allocated cost of the authority; 5. For properties sold to developers, the total cost of the property to the authority and the price paid by the developer; 6. The amount of tax exempt obligations, other than those reported under clause (3), that were issued on behalf of private entities for facilities located in the district. Additionally, the city must annually publish a statement in a newspaper of general circulation in the municipality showing the tax increment received and expended in that year, the original tax capacity value, the captured tax capacity value, amount of outstanding bonded indebtedness and any additional information the city deems necessary. Y. Assumptions It was necessary to make certain assumptions regarding income, costs and timing of the tax increment redevelopment district. These assumptions are based on discussions with city and county staff and city planning consultants. Z. Municipal Findings Pursuant to Minnesota Statutes, Section 273.74, Subdivision 3, before or at the time of approval of the tax increment financing plan, the municipality shall make the following findings and shall set forth in writing the reasons and supporting facts for each determination: 1. The proposed development or redevelopment, in the opinion of the city, would not reasonably be expected to occur solely through private investment within the reasonably foreseeable future and, therefore, the use of tax increment financing is deemed necessary since the developers could not construct and operate the redevelopment project without the necessary public improvements to service the