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county assessor who shall review the plans and specifications for the <br />improvements to be constructed, review the market value previously <br />assigned to the land upon which the improvements are to be constructed and <br />so long as the minimum market value coWained in the assessment <br />agreement appears in the judgment of the assessor, to be a reasonable <br />estimate, the assessor may certify the minimum market value agreement. <br />W. Administration of the Tax Increment Financing Redevelopment District and <br />Maintenance of the Tax Increment Account <br />Administration of the tax increment financing redevelopment district will <br />be handled by the Office of the Clerk -Administrator. <br />The tax increment received as a result of increases in the assessed value of y <br />the tax increment financing redevelopment district will be maintained in a <br />special account separate from all other municipal accounts end expended <br />o,.,y upon sanctioned murlelpal activities Identified in the finance plan. <br />X. Annual Disclosure Requirements <br />Pursuant to Minnesota Statutes, Section 469.175, Subdivision 5, an authority <br />must file an annual disclosure report for all tax increment financing <br />districts. The report shall be filed with the school board, county board and <br />the Minnesota Department of Trade and Economic Development. The report <br />shall include the following information; <br />1. The original assessed value of the district; =` <br />2. The captured assesed value of the district, Including the amount of <br />any captured assessed value shared with other taxing districts; <br />3. The outstanding principal amount of bonds issued or other loans <br />insured to ?Inance project costs in the district; <br />x. <br />4. For the reporting period and for the duration of the district, the <br />amount bud eted u„der the tax increment financing plan, and the <br />actual amount expended for, at least, the following categories: <br />a. Acquisition of land and buildings through condemnation or <br />purchase; <br />b. Site improvements or preparation cosisi <br />C. Installation of public utilities or other public improvements; <br />d. Administrative costs, including the allocated cost of the <br />authority. <br />5. For properties sold to developers, the total cost of the property to <br />the authority and the price paid by the deveioper; <br />12 <br />