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-4- <br />Redevelopment District# are areas of extensively deteriorated or under- <br />utilized property. <br />utilize Districts Include properties intended for low- or moderate- <br />iotame� is defined by federal, State, or municipal legislation. <br />Economic Develo went Distrieais��ietaeabut owhich, if includedt netting the iinma tax <br />of redevelopment or housing <br />increment district, will discourage lose of eeonouie activity, increase <br />employment, or enhance the local tax bass. <br />Year Eatcblished - the year the tax increment plan is approved by the local <br />governing authority. <br />Authorizing Law - one of the following will be cited: <br />Minnesota Rural Development Finance Authority (Minn. Stott. Ch. 362A) <br />Port Authority (Minn. State. 1 458.192) <br />Municipal Development District (Minn. State. Ch. 472A) <br />Housing and Redevelopment Authority (Minn. State. 1 462.545 and Ninn. <br />State. 1 462.581 <br />Metropolitan Housing and Redevelopment .authority (Hfnn•• State. S 473.193, <br />473.201) <br />474) <br />Municipal Induatrisl Development (Minn.. State. Ch. <br />Special Laws: <br />St. Paul Urban Reneva1 - 1963 Lsve, Chapt-r•ter S48 <br />Hopkins Development Districts - 1971 Laws, Chap <br />Minneapolis and Robbinodele Development Districts - 1971 Laws, <br />Chapter 671 <br />Guluth Development Districts - 1973 Love, Chapter 761 <br />St. Paul Development Districts - 1973 Laws, Chapter 764 <br />Duration of District - the duration as contained in the original tax increment <br />financing plan (Minn State. i 271.74, rubd. 1(6)) or say modified plan. <br />Original Assessed Value - the assessed valuation of the district when the <br />district was crested, as certified by the county auditor. If the original <br />ssseeed value is modified by the auditor pursuant to Minn. Stott.,$ 273.76, <br />aubd. 1, use that figure. <br />Current Assessed Value - 1984 assessed value of the district for taxes payable <br />in 1985, as certified by the county auditor. <br />Captured Asgessad value - the difference between current aasesaed value and ori- <br />ginal assessed value; captured assessed value is certified each year by the <br />county auditor. <br />Retained by the Authority the portion of captured Assessed valuE debt <br />designated by the authority to generate tax revenue for payment <br />service and other eligible expenditures. <br />Shared with other Iaxing Districts - the portion of captured assasaad <br />value not retained by the authority, but shared with other taxing <br />jurisdiction$. <br />An example of the note is attached. <br />