Agenda Packets - 1986/10/06 - Laserfiche WebLink

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lap O. Adjusted" Required Tax Assessed__ Value Mllis increment Agh City of Mounds View f 86,013,103 2.211 145,932 County of Ramsey 3,289,601,903 0.102 335,142 School District #621 554,914,979 0.892 495,019 Spec. Ind. School Dist. #916 1,507,060,739 0.008 12,200 Other 3,289,601,903 0.020 64,227 °Tax increment District assessed valuation subtracted. Modifications of the Tax Increment Financing District In accordance with Minnesota Statutes, Section 273.74, Subdivision 4, any reduction or enlargement of the geographic area of the project or tax Increment financing district, Increase in amount of bonded Indebtedness to be Incurred, including a determination or capitalized interest on debt If that determination was not a part of the originai plen., or to increase or decrease the amount of Interest on the debt to be capitalized, Increase In the portion of th? enotured assessed value to be retained by the City, Increase In total estimated tax in expenditures or designation of additional property ce ad ater to be acquired by the authority shall be epproved upon the not 'ov In of f the the discussion, public hearing and findings required for app original plan. The geographic area of a tax increment financing district may be reducedt but shall not be enlarged after five years following the date of certification of the original assessed value by the county auditor. The tax „ increment financing redevelopment district may therefore be expanded until 1991. Limitation on Administrative Expenses in accordance with Minnesota Statutes, Section 273,73, Subdivision 13 and Minnesota Statutes, Section 273.75, Subdivision 3, administrative expenses ty other than purchasellofx Inndltores of an amountsapaidrito contractors mounts or i d (or the or others providing materials and services, including architectural and engineering services, directly connected with the physical development of the real property In the district, relocation benefits paid to or services provided for persons ratiding or businesses located In the district or amounts used to pay interest on, fund a reserve for, or sell at a discount bonds issued pursuant to Section 273.77. Administrative expenses Includes amounts paid for services provided by bond counsel, fiscal consultants, and planning or economic development consultants. No tax increment shall be use( to pay any administrative expenses for a project which exceed ten percent of the total tax Increment expenditures authorized by the tax Increment financing plan or the total tax Increment expenditures for the project, whichever Is less. Llmilnlion on Duration of Tnx Increment Financing Districts Pursuant to Minnesota Statutes, Section 273.75, Subdivision 1, "no tax Increment shill be paid to an authority three years from the date of certification by the County Auditor unless within the three-year period (1) 10