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CITY OF ST. ANTHONY , <br /> NOTES TO FINANCIAL STATEMENTS <br /> DECEMBER 31 , 1999 <br /> 1 <br /> Note 19. Tax Increment Finance Districts <br /> The Housing and Redevelopment Authority of St. Anthony is the administering authority ' <br /> for several tax increment finance districts within the City. All housing and rede- <br /> velopment districts were established in accordance with state statutes and follow <br /> applicable state laws and provisions. , <br /> Following is certain information for 1999 concerning each of the districts. <br /> Apache Apache ' <br /> Name of District Kenzie Walbon Chandler Evergreen Plaza I Plaza II <br /> Type of .District: --Housing Housing Housing Housing Economic Economic ' <br /> Number of District: 1950 -1952- - ----3---- ----7---- ----9G 1H <br /> ----- --- - - <br /> Current Tax Capacity: $377,575 $37,816 $143,072 $62,801 $421 ,178 $22,460 <br /> Base Tax Capacity: 32,631 4,046 25,251 847 265,851 2: <br /> ----------- --------- --------- --------- ----------- --------- <br /> Captured Tax Capacity: --$344,944- -$33,770- $117,821- -$61 ,954- --$155,327- -$19,578- ' <br /> Bonds Issued $380,000- $1 ,720,000- ' <br /> Bonds Redeemed 310,000 <br /> Outstanding Bonds at <br /> December 31 , 1999 -$70,000- $1 ,720,000- ' <br /> General obligation tax increment bonds were - issued to acquire property and finance , <br /> improvements for the Kenzie and Walbon housing projects. The incremental portion <br /> of general property taxes generated from these tax increment districts will be used <br /> to retire the bonds issued to finance the housing and redevelopment projects. How- <br /> ever, future tax increment revenues of the Kenzie district have been pledged to ' <br /> retire bonds issued for construction of the community center complex, if required: <br /> At December 31 , 1999, $2, 100,000 of bonds issued in connection with the community <br /> center complex were outstanding. Bonds outstanding related to the Walbon project , <br /> were $70,000 as of December 31 , 1999. <br /> The Authority issued $1 ,720,000 of general obligation taxable tax increment bonds <br /> to .assist in acquisition costs of certain property to be developed in the Apache ' <br /> Plaza I tax increment district. With these proceeds and other available existing <br /> funds, the Authority contributed $1 ,800,000 towards the acquisition costs of certain <br /> property being developed. Tax increment revenues received will be used to retire ' <br /> these bonds and interest with any deficiency to be provided from either the Kenzie <br /> Housing or Chandler Housing districts. <br /> -34- <br />