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2012 State Auditor FormPrinted 8/1/2013
Oak Park Heights - TIF 1-1 - 2012 Annual Reporting Form
HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet
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The Annual Reporting Form is required for each TIF district that must report in 2013 for the reporting year 2012 and is due by
August 1, 2013.
Sections of this Annual Reporting Form have been pre-populated from the TIF Plan Reporting Form filed last year. This annual
reporting form is interactive, a line on one worksheet may carry over to another sheet. These cells are shaded yellow. Some
columns automatically calculate a total. These cells are shaded blue. The information in the shaded cells cannot be changed
directly but the information can be changed on the original worksheet.
Please become familiar with the forms and review each line for accuracy.
What do the red messages in the form indicate?
The red messages in the right margin indicate that data must be entered or corrected before the reporting form can be submitted.
Once the data has been entered or corrected, the red message will no longer be displayed.
Tab NameRed Messages Remaining
Overview
0
District Info
0
Debt
0
Interfund Loans
0
PAYG
0
Project Costs
0
Transfers
0
Rev & Exp
0
Balance Sheet
0
EIC
0
ADS
0
Comments
0
TOTAL COUNT0
Have you read the instructions?
Detailed instructions on how to complete the Annual Reporting Form are available by clicking the link below.
CLICK HERE for detailed reporting instructions
Have you read the TIF Statements of Position?
The Office of the State Auditor prepares Statements of Position to provide an educational resource to local governments, auditors
and the public. Statements of Position are not legal advice and should not be relied upon in lieu of legal advice.
CLICK HERE for a list of all TIF Statements of Position
Have you saved your files?
Use the SAVE AS command and choose the location to save your files on your computer. Otherwise, they will be saved to a
temporary location, making them difficult to locate when you are ready to upload.
Are your calculations too slow?
If the calculations are too slow, change the calculation options from automatic to manual. For information regarding how to
change the calculation process, please see the following links to Microsoft.
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2012 State Auditor FormPrinted 8/1/2013
Office Excel 2007 or Excel 2010:
Microsoft Information on Manual and Automatic Recalculation
"To turn off automatic recalculation and recalculate open workbooks...
Office Excel 2003 or Earlier:Microsoft Information on Manual and Automatic Recalculation
+ Change when a worksheet or workbook recalculates
"To turn off automatic recalculation and recalculate open…
Do you need additional forms?
A TIF District Annual Form is required to be submitted for a TIF district beginning with the year the district is certified. If you have
a new TIF district or new pooled debt issue that needs to be reported for 2013, please email the TIF Division as soon as possible.
For new TIF districts, you must complete a TIF Plan Collection Form through SAFES (State Auditor's Form Entry System) before
a 2012 District Annual Form can be generated.
TIF@osa.state.mn.us
Is this TIF District recently decertified?
If a district has recently been decertified, please print and complete a Confirmation of Decertification Form from our website.
Complete and sign Part A, and send the form to your County Auditor. He or she will verify the information and sign Part B. It is
the authority's responsibility to make sure the TIF Division receives a fully completed decertification form.
Confirmation of Decertification Form
If the district is decertified before the maximum duration limit identified in the TIF Act, please submit a copy of the city council's
resolution to decertify the district in addition to the Confirmation of Decertification.
Do you have additional information to share with our office?
A comment box is available at the end of the reporting form. Please use the comment box as needed to share information that
may be pertinent to the reporting form. If your comment exceeds the space available on the reporting form, you may email the
TIF Division to share the information.
TIF@osa.state.mn.us
Home
2012 State Auditor FormPrinted 8/1/2013
Oak Park Heights - TIF 1-1 - 2012 Annual Reporting Form
HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet
Overview
Tax Increment Financing Annual Reporting Form for the Year Ended December 31, 2012
TIF 1-1
1TIF District Name:
Development Authority:
2Oak Park Heights
District Type:
3Renewal and Renovation
County Where TIF District is Located:
4Washington
County Identification Number, if any:
5
Is the small city exception being used?
6Not Applicable
7Is this TIF district in a fiscal disparities area?No
8If yes, under what option?Not Applicable
Original TIF Plan Information
9TIF Plan Approval Date:06/09/2009
10Certification Request Date:02/18/2011
11Certification Date:03/21/2011
District Duration
12Month and year of first receipt of tax increment (actual or anticipated):07/2012
13Required Decertification Date:12/31/2027
TIF Plan Estimates - Original Plan06/09/2009
06/09/2009
ESTIMATED TAX INCREMENT REVENUES
(from tax increment generated by the district)
14Tax increment revenues distributed from the county$ 2,886,737
15Interest and investment earnings$ 0
16Sales/lease proceeds$ 0
17Market value homestead credit$ 0
Total Estimated Tax Increment Revenues$ 2,886,737
18
ESTIMATED PROJECT/FINANCING COSTS
(to be paid or financed with tax increment)
Project costs
19Land/building acquisition$ 1,200,000
20Site improvements/preparation costs$ 0
21Utilities$ 0
22Other qualifying improvements$ 288,500
23
Construction of affordable housing$ 0
24Small city authorized costs, if not already included above$ 0
25Administrative costs$ 288,500
Estimated Tax Increment Project Costs$ 1,777,000
26
Estimated financing costs
27Interest expense$ 1,109,737
Total Estimated Project/Financing Costs to be Paid From Tax Increment$ 2,886,737
28
06/09/2009
ESTIMATED FINANCING
29Total amount of bonds to be issued$ 1,927,000
OverviewPage 1 of 18
2012 State Auditor FormPrinted 8/1/2013
Oak Park Heights - TIF 1-1 - 2012 Annual Reporting Form
HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet
District Info
District Information
Special Legislation
1
Was any special legislation enacted for this district?YesNo
2ABCD
YearChapterArticleSection
1
2
3
4
5
6
7
Captured Tax Capacity
N/A
3
2012 Amount
4Current net tax capacity+$ 31,344
5Original net tax capacity-$ 4,431
Captured net tax capacity
(If negative, show $0)
$ 26,913
6=
7Fiscal disparity deduction, if applicable (option B)-$ 0
8Captured net tax capacity shared with other taxing jurisdictions-$ 0
Captured net tax capacity retained for tax increment financing
(If negative, show $0)
$ 26,913
9=
Fiscal Disparities
Enter the amount of total increased property taxes to be paid from outside the TIF district from
10
line 33 of the Department of Revenue's fiscal disparity option A calculation form.
Five-Year Rule
11Did one or more of the following actions occur before3/21/2016?
YesNoN/A
If yes, check the appropriate actions:
12Revenues were paid to a third party
13Bonds were issued and sold to a third party
Binding contracts with a third party were entered into and the revenues will be spent under the contractual
14
obligation
15Activity costs were paid for and revenues are spent to reimburse a party for payment of the activity costs
Expenditures were made for housing or public infrastructure purposes as permitted by Minn. Stat. § 469.1763,
16
subd. 3 (a) (5)
County Correction of Error
Has the authority resolved with the county auditor any error qualifying under Minn. Stat. § 469.177,
YesNo
17
subd. 13, during the year ended December 31, 2012? (If no error occurred, check no.)
Decertification
18
Has this district been decertified?
YesNo
19
Actual Decertification Date:
District InfoPage 2 of 18
2012 State Auditor FormPrinted 8/1/2013
Oak Park Heights - TIF 1-1 - 2012 Annual Reporting Form
HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance SheetEICADS
Debt
Financing & Debt
Does this district have general obligation bonds, revenue bonds, or other debt outstanding after 2009?
YesNo
1
(Do not consider Pay-As-You-Go (PAYG) or interfund loans.)
retired before 2010
Did this district have general obligation bonds, revenue bonds, or other debt that was ?
YesNo
2
(Do not consider Pay-As-You-Go (PAYG) or interfund loans.)
Principal and Interest
ABC
Bonds Retired
Before 2010All Prior Years2012 Amount
3Bonds issued (other than refunding bonds)#$ 0$ 0$ 0
4Refunding bonds issued#$ 0$ 0$ 0
5Principal payments from tax increment#$ 0$ 0$ 0
6Interest payments from tax increment#$ 0$ 0$ 0
DebtPage 3 of 18
2012 State Auditor FormPrinted 8/1/2013
Oak Park Heights - TIF 1-1 - 2012 Annual Reporting Form
Key To Drop-Down Menu for "Type"
A- General Obligation Bonds
B- Revenue Bonds
C- Other Debt
7ABCDEFGHIJ
Refunding
Refunded
Amount
Pooled
Final Issue Refunded (if
Type
NameIssue DateMaturity DateInterest Rate RangeAmountrefunded)
########-%##
1
########-%##
2
########-%##
3
########-%##
4
########-%##
5
########-%##
6
########-%##
7
########-%##
8
########-%##
9
########-%##
10
########-%##
11
########-%##
12
########-%##
13
########-%##
14
########-%##
15
########-%##
16
########-%##
17
########-%##
18
########-%##
19
########-%##
20
Do not consider PAYG and interfund loans. If you need to report additional bonds, please contact the OSA.
Comments (500 character limit):
#N/A
8
DebtPage 4 of 18
2012 State Auditor FormPrinted 8/1/2013
Oak Park Heights - TIF 1-1 - 2012 Annual Reporting Form
KLMNOPQRSTUVW
PrincipalInterest
Paid in Prior Paid in Prior Paid in Prior Paid in Prior
Years From Years From Paid in 2012 Paid in 2012 Due in 2013 Years From Years From Paid in 2012 Paid in 2012 Due in 2013
Tax Other From Tax From Other Additions in Additions in From Tax Tax Other From Tax From Other From Tax
IncrementSourcesIncrementSourcesPrior Years2012OutstandingIncrementIncrementSourcesIncrementSourcesIncrement
#######$ 0######
1
#######$ 0######
2
#######$ 0######
3
#######$ 0######
4
#######$ 0######
5
#######$ 0######
6
#######$ 0######
7
#######$ 0######
8
#######$ 0######
9
#######$ 0######
10
#######$ 0######
11
#######$ 0######
12
#######$ 0######
13
#######$ 0######
14
#######$ 0######
15
#######$ 0######
16
#######$ 0######
17
#######$ 0######
18
#######$ 0######
19
#######$ 0######
20
#N/A
DebtPage 5 of 18
2012 State Auditor FormPrinted 8/1/2013
Oak Park Heights - TIF 1-1 - 2012 Annual Reporting Form
HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet
Interfund Loans
Interfund Loans
1Does/Did this district have interfund loans outstanding after 2009?
YesNo
retired before 2010
Did this district pay interest on interfund loans that were ?YesNo
2
Interfund Loans
AB
12/31/201112/31/2012
3Due to other TIF districts$ 0$ 0
4Due to non-tax increment accounts$ 0$ 0
5Due from other TIF districts$ 0$ 0
6Due from non-tax increment accounts$ 0$ 0
Principal and Interest
ABC
Interfund Loans
Retired
Before 2010Prior Years2012 Amount
7Principal payments paid from this district$ 0$ 0
8Interest payments paid from this district$ 0$ 0$ 0
Interfund LoansPage 6 of 18
2012 State Auditor FormPrinted 8/1/2013
Oak Park Heights - TIF 1-1 - 2012 Annual Reporting Form
Key To Drop-Down Menu for "Type"
A- Receivable: Interfund Loan to Other District
B- Receivable: Interfund Loan to Non-Tax Increment Account
C- Payable: Interfund Loan from Other District
D- Payable: Interfund Loan from Non-Tax Increment Account
9ABCDEFG
Name of Second Party (District or Non-Tax Increment Account)
Resolution Final Authorized
Type
DistrictNon-Tax Increment AccountDateMaturity DateInterest Rate Range Amount
-%
1
-%
2
-%
3
-%
4
-%
5
-%
6
-%
7
-%
8
-%
9
-%
10
-%
11
-%
12
-%
13
-%
14
-%
15
-%
16
-%
17
-%
18
-%
19
-%
20
If you need to report additional interfund loans, please contact the OSA.
Comments (500 Character limit):
10
Interfund LoansPage 7 of 18
2012 State Auditor FormPrinted 8/1/2013
Oak Park Heights - TIF 1-1 - 2012 Annual Reporting Form
HIJKLMNOPQR
PrincipalInterest
Prior Years 2012 Additions/Additions/Paid/
Draw Draw Paid/Rec'd in Paid/Rec'd in Reductions Reductions Rec'd in Paid/
AmountAmountPrior Years2012Prior Yearsin 2012OutstandingDue in 2013Prior YearsRec'd in 2012Due in 2013
$ 0
1
$ 0
2
$ 0
3
$ 0
4
$ 0
5
$ 0
6
$ 0
7
$ 0
8
$ 0
9
$ 0
10
$ 0
11
$ 0
12
$ 0
13
$ 0
14
$ 0
15
$ 0
16
$ 0
17
$ 0
18
$ 0
19
$ 0
20
Interfund LoansPage 8 of 18
2012 State Auditor FormPrinted 8/1/2013
Interfund LoansPage 9 of 18
2012 State Auditor FormPrinted 8/1/2013
Interfund LoansPage 10 of 18
2012 State Auditor FormPrinted 8/1/2013
Oak Park Heights - TIF 1-1 - 2012 Annual Reporting Form
HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance SheetEICADSComments
PAYG
Pay-As-You-Go (PAYG) Financing
YesNo
1Are there any PAYG obligations for this district?
For the section below, report only the documented PAYG costs to be repaid with tax increment.
ABCDEFG
PAYG 1 PAYG 2 PAYG 3 PAYG 4 PAYG 5 Through PAYG 6 Total Through
Through 2012Through 2012Through 2012Through 20122012Through 20122012
DOCUMENTED PAYG COSTS
2Land/building acquisition$ 1,200,000$ 1,200,000
3Site improvements/preparation costs$ 0$ 0
4Utilities$ 0$ 0
5Other public improvements$ 0$ 0
6Construction of affordable housing$ 0$ 0
7Small city authorized costs, if not already included above$ 0$ 0
Temporary economic development (jobs) \[Minn. Stat. §
8$ 0$ 0
469.176, subd. 4c (d)\]
Total documented PAYG costs to be paid with tax
9$ 1,200,000$ 0 $ 0 $ 0$ 0 $ 0 $ 1,200,000
increment
Principal and Interest
12/31/201112/31/2012
10Outstanding obligation contingent upon available tax increment$ 1,200,000 $ 1,200,000
Prior Years2012 Amount
11Principal payments$ 0 $ 0
12Interest payments$ 0 $ 21,267
PAYGPage 9 of 18
2012 State Auditor FormPrinted 8/1/2013
G
Total Through
2012
$ 1,200,000
$ 0
$ 0
$ 0
$ 0
$ 0
$ 0
$ 1,200,000
PAYGPage 10 of 18
2012 State Auditor FormPrinted 8/1/2013
Oak Park Heights - TIF 1-1 - 2012 Annual Reporting Form
A
13BCDEF
Final Contract / Documented
Name on Development AgreementIssue DateMaturity DateInterest Rate RangeNote AmountAmount
OAKGREEN COMMONS, LLC08/27/201012/31/20266.900-6.900%$ 1,200,000 $ 1,200,000
1
-%$ 0
2
-%$ 0
3
-%$ 0
4
-%$ 0
5
-%$ 0
6
Comments (500 Character limit):
Interest Due 2013 is accrued interest through 12/31/12. Per Note, Payments shall first be applied to accrued interest and
14
then principal. Increment in 2013 not sufficient to pay off accrued interest and therefore no principal payments will be maid
in 2013.
PAYGPage 11 of 18
2012 State Auditor FormPrinted 8/1/2013
Oak Park Heights - TIF 1-1 - 2012 Annual Reporting Form
GHIJKLMNO
PrincipalInterest
Additions/Additions/
Paid in Prior Reductions Reductions Paid in Prior
YearsPaid in 2012Prior Yearsin 2012OutstandingDue in 2013YearsPaid in 2012Due in 2013
$ 0 $ 0 $ 0 $ 0 $ 1,200,000 $ 0 $ 0 $ 21,267 $ 149,447
1
$ 0
2
$ 0
3
$ 0
4
$ 0
5
$ 0
6
PAYGPage 12 of 18
Comments
2012 State Auditor FormPrinted 8/1/2013
Oak Park Heights - TIF 1-1 - 2012 Annual Reporting Form
HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance SheetEICADS
Project Costs
Project Costs
ABC
Total Through
Prior Years2012 Amount2012
PROJECT COSTS (OTHER THAN PAYG)
1Land/building acquisition#$ 0#$ 0#$ 0
2Site improvements/preparation costs#$ 0#$ 0#$ 0
3Utilities#$ 0#$ 0#$ 0
4Other public improvements#$ 0#$ 0#$ 0
5Construction of affordable housing#$ 0#$ 0#$ 0
6Small city authorized costs, if not already included above#$ 0#$ 0#$ 0
Temporary economic development (jobs)
7#$ 0#$ 0#$ 0
\[Minn. Stat. § 469.176, subd. 4c (d)\]
8Authority administrative costs#$ 0#$ 500#$ 500
9County administrative costs#$ 0#$ 240#$ 240
10Subtract prior years' costs paid with public funds other than tax increment#$ 0#$ 0
Total Project Costs (Other than PAYG) Paid or Financed with Tax
11#$ 0#$ 740#$ 740
Increment and/or TIF Bond Proceeds
PROJECT COSTS (PAYG)
12Land/building acquisition$ 1,200,000
13Site improvements/preparation costs$ 0
14Utilities$ 0
15Other public improvements$ 0
16Construction of affordable housing$ 0
17Small city authorized costs, if not already included above$ 0
Temporary economic development (jobs) (Minn. Stat. § 469.176, subd. 4c (d)
18(2010))$ 0
Total Documented Project Costs (PAYG) to be Paid with Tax
19$ 1,200,000
Increment
TOTAL PROJECT COSTS PAID OR TO BE PAID WITH TAX INCREMENT
20$ 1,200,740
AND/OR TIF BOND PROCEEDS
Amount of any payments included above for activities and improvements
located outside the TIF district and paid for or financed with tax increment
21#$ 0#$ 0#$ 0
including administrative costs
Project CostsPage 12 of 18
EIC
2012 State Auditor FormPrinted 8/1/2013
Oak Park Heights - TIF 1-1 - 2012 Annual Reporting Form
HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet
Transfers
Transfers
YesNo
1Are there any transfers of tax increment to or from the TIF district?
ABCD
Total Through
2012
District NamePrior Years2012 Amount
TRANSFERS IN
2
Transfers of tax increment from other TIF districts
####$ 0
1
####$ 0
2
####$ 0
3
####$ 0
4
####$ 0
5
####$ 0
6
####$ 0
7
####$ 0
8
####$ 0
9
####$ 0
10
####$ 0
11
####$ 0
12
####$ 0
13
####$ 0
14
####$ 0
15
####$ 0
16
####$ 0
17
####$ 0
18
####$ 0
19
####$ 0
20
Total Transfers In
3#$ 0 #$ 0 #$ 0
TRANSFERS OUT
4
Transfers of tax increment to other TIF districts
####$ 0
1
####$ 0
2
####$ 0
3
####$ 0
4
####$ 0
5
####$ 0
6
####$ 0
7
####$ 0
8
####$ 0
9
####$ 0
10
####$ 0
11
####$ 0
12
####$ 0
13
####$ 0
14
####$ 0
15
####$ 0
16
####$ 0
17
####$ 0
18
####$ 0
19
####$ 0
20
Total Transfers Out
5#$ 0 #$ 0 #$ 0
TransfersPage 13 of 18
2012 State Auditor FormPrinted 8/1/2013
Oak Park Heights - TIF 1-1 - 2012 Annual Reporting Form
HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance SheetEICADS
Rev & Exp
Revenues, Expenditures, and Changes in Tax Increment Balance
ABC
Total Through
Prior Years2012 Amount2012
REVENUES
1Tax increment revenues distributed from the county#$ 0 #$ 26,583#$ 26,583
2Interest and investment earnings#$ 0 #$ 28#$ 28
3Market value homestead credit#$ 0 #$ 0 #$ 0
4Loan/advance repayments#$ 0 #$ 0 #$ 0
5Lease proceeds#$ 0 #$ 0 #$ 0
6Repayments or return of tax increment per agreements#$ 0 #$ 0 #$ 0
Total Revenues
7#$ 0 #$ 26,611#$ 26,611
EXPENDITURES
8Project costs (other than PAYG)#$ 0 #$ 740#$ 740
9Tax increment returned to the county#$ 0 #$ 0 #$ 0
Bond Payments
Principal
10Payments for PAYG note or contract#$ 0 #$ 0 #$ 0
11Payments on all other bonds#$ 0 #$ 0 #$ 0
Interest
12Interest on PAYG#$ 0 #$ 21,267#$ 21,267
13Interest on all other bonds#$ 0 #$ 0 #$ 0
14Interest on interfund loans#$ 0 #$ 0 #$ 0
Total Expenditures
15#$ 0 #$ 22,007#$ 22,007
Revenues over (under) expenditures
16#$ 0 #$ 4,604#$ 4,604
OTHER SOURCES AND USES
17Transfers in#$ 0 #$ 0 #$ 0
18Transfers out#$ 0 #$ 0 #$ 0
19Bonds issued (other than refunding bonds)#$ 0 #$ 0 #$ 0
20Refunding bonds issued#$ 0 #$ 0 #$ 0
21Bonds refunded#$ 0 #$ 0 #$ 0
22Bond discount#$ 0 #$ 0 #$ 0
23Bond premium#$ 0 #$ 0 #$ 0
24Sales of property#$ 0 #$ 0 #$ 0
Total Other Sources and Uses
25#$ 0 #$ 0 #$ 0
Net change in tax increment balances
26#$ 0 #$ 4,604#$ 4,604
27Tax Increment balance (beginning 01/01/2012)#$ 0
28Tax Increment balance (ending 12/31/2012)#$ 4,604
Rev & ExpPage 14 of 18
2012 State Auditor FormPrinted 8/1/2013
Oak Park Heights - TIF 1-1 - 2012 Annual Reporting Form
HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet
Balance Sheet
Balance Sheet
AB
12/31/201112/31/2012
ASSETS
1Cash#$ 0#$ 15,223
2Investments#$ 0#$ 0
3Due from other TIF districts#$ 0#$ 0
4Due from non-tax increment accounts#$ 0#$ 0
5Interest receivable#$ 0#$ 15
6Taxes receivable#$ 0#$ 0
7Other receivables#$ 0#$ 0
8Property held for resale#$ 0#$ 0
Total Assets
9#$ 0#$ 15,238
LIABILITIES
10Due to other TIF districts#$ 0#$ 0
11Due to non-tax increment accounts#$ 0#$ 0
12Accounts payable#$ 0#$ 10,634
13Deferred revenue#$ 0#$ 0
Total Liabilities
14#$ 0#$ 10,634
TAX INCREMENT BALANCE
Total Tax Increment Balance
15#$ 0#$ 4,604
Total Liabilities and Tax Increment Balance
16#$ 0#$ 15,238
Balance SheetPage 15 of 18
2012 State Auditor FormPrinted 8/1/2013
Oak Park Heights - TIF 1-1 - 2012 Annual Reporting Form
HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet
EIC
Excess Increment Calculation
Excess increment calculation report required?
If the total costs authorized by the TIF plan to be paid or financed with tax increment from the district exceed the total tax
increment collected from the district by 20 percent, the excess increment calculation is not required to be reported.
Excess increment calculation reporting exemption:
Minn. Stat. § 469.176, subd. 2 (g).
1Tax increment generated by the district since certification$ 26,611
2Multiply the above amount by 1.2$ 31,933
3Total costs authorized by the TIF plan to be paid or financed with tax increment$ 2,886,737
NOT REQUIRED
4Based on the calculation above, the Excess Increment Calculation Report is:
Excess Increment Calculation Report
5Total tax increment generated by the district since certification$ 26,611
6Subtract total tax increment returned to the county$ 0
7Subtotal A$ 26,611
8Total costs authorized by the TIF plan to be paid or financed with tax increment$ 2,886,737
9Subtract authorized costs that have been or will be paid from sources other than tax increment
10Subtract principal and interest payments due after the year ended December 31, 2012
Add transfers of increment made prior to December 31, 2012, used to pay for Minn. Stat. §
11
469.1763 deficits
12Subtotal B$ 2,886,737
13Excess increment (Subtract subtotal B from subtotal A)$ (2,860,126)
Subtract any of the authorized uses of excess increment listed below:
14Prepayment of any outstanding bonds
15Discharge of the pledge of tax increment for any outstanding bonds
16Payment into an escrow account dedicated to the payment of any outstanding bond
17Excess increment after subtractions of authorized uses*$ (2,860,126)
*Excess increments after subtractions must be returned to the county for distribution to the city, county, and school
districts in which the TIF district is located within nine months after the end of the year (by September 30).
EICPage 16 of 18
2012 State Auditor FormPrinted 8/1/2013
Oak Park Heights - TIF 1-1 - 2012 Annual Reporting Form
HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet
ADS
2012 Annual Disclosure Statement
Oak Park Heights
1Name of Development Authority:
2Name of Municipality:Oak Park Heights
The following information represents the annual disclosure of tax increment districts for the year ended December 31, 2012.
3Stillwater Gazette08/02/2013
(Name of the Newspaper)(Date of Publication)
TIF 1-1
4Current net tax capacity$ 31,344
5Original net tax capacity$ 4,431
6Captured net tax capacity$ 26,913
7Principal and interest payments due in 2013$ 149,447
8Tax increment received in 2012$ 26,611
9Tax increment expended in 2012$ 22,007
10Month and year of first tax increment receipt07/2012
11Date of required decertification12/31/2027
The total increased property taxes to be paid from outside the district if
fiscal disparities Option A applies*
12$ 0
(All lines within the table above must be published even if the amounts to be published are zero.)
* The fiscal disparities property tax law provides that the growth in commercial-industrial property tax values
is shared throughout the area. In a tax increment financing district, this value sharing can either result in a tax
increase for other properties in the municipality or result in a decrease in tax increment financing district
revenue depending on how the tax increment financing district is established.
Tax Increment Financing District TIF 1-1 does not share its growth in commercial-industrial property tax
values. This results in an increase in property taxes for other properties in this municipality. For taxes
payable in 2012, this increase in taxes on other properties amounted to $0.00.
Additional information regarding this district may be obtained from:
13City of Oak Park Heights, Betty Caruso
Name:
1414168 Oak Park Blvd
Address:
15Oak Park Heights
City:
State:
16MN
Zip Code:
1755082
Phone:
18(651) 439-4439Enter as 6512962551.
Email:
19bcaruso@cityofoakparkheights.comEnter 'none' if no email address.
Note to preparer: Publishing the last line of the table and the two paragraphs following the table is
necessary only if a TIF district in the municipality is located in the fiscal disparities area and the
municipality chose option "A" under Minn. Stat. 469.177, subd. 3(a), for the TIF district.
ADSPage 17 of 18
2012 State Auditor FormPrinted 8/1/2013
Oak Park Heights - TIF 1-1 - 2012 Annual Reporting Form
HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet
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CommentsPage 18 of 18
2012 State Auditor FormPrinted 8/1/2013
Balance Sheet
CommentsPage 19 of 18