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HomeMy WebLinkAbout2011 State Auditor Form 2011 State Auditor Annual Form.xlsPrinted 8/1/2013 Oak Park Heights - TIF 1-1 - 2011 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet Home Home The Annual Reporting Form is required for each TIF district that must report in 2012 for the reporting year 2011 and is due on August 1, 2012. 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. Microsoft Information on Manual and Automatic Recalculation Office Excel 2007 or Excel 2010: "To turn off automatic recalculation and recalculate open workbooks... Microsoft Information on Manual and Automatic Recalculation Office Excel 2003 or Earlier: + Change when a worksheet or workbook recalculates "To turn off automatic recalculation and recalculate open… Do you need additional forms? If you have a new district or pooled debt issue that needs to be reported for 2011, email the TIF Division as soon as possible. A TIF District Annual Form is required to be submitted for a TIF district beginning with the year the district was certified. In addition, if a new district needs to file, a TIF Plan Reporting Form will be required prior to the Annual Form being available to complete. 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 2011 State Auditor Annual Form.xlsPrinted 8/1/2013 Oak Park Heights - TIF 1-1 - 2011 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet Overview Tax Increment Financing Annual Reporting Form for the Year Ended December 31, 2011 TIF District Name: TIF 1-1 1 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):07/2011 13Required Decertification Date:12/31/2026 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 2011 State Auditor Annual Form.xlsPrinted 8/1/2013 Oak Park Heights - TIF 1-1 - 2011 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet District Info District Information Special Legislation YesNo Was any special legislation enacted for this district? 1 2ABCD YearChapterArticleSection 1 2 3 4 5 6 7 N/A Captured Tax Capacity 3 2011 Amount 4Current net tax capacity+$ 4,105 5Original net tax capacity-$ 4,105 Captured net tax capacity $ 0 (If negative, show $0) 6= 7Fiscal disparity deduction, if applicable (option B)-$ 0 8Captured net tax capacity shared with other taxing jurisdictions-$ 0 Captured net tax capacity retained for tax increment financing (If negative, show $0) $ 0 9= Fiscal Disparities Enter the amount of total increased property taxes to be paid from outside the TIF district from line 12 of the Department of Revenue's fiscal disparity option A calculation form. 10 Five-Year Rule YesNoN/A 11Did one or more of the following actions occur before3/21/2016? If yes, check the appropriate actions: 12Revenues were paid to a third party 13Bonds were issued and sold to a third party or bond proceeds were spent or deposited in a reserve Binding contracts with a third party were entered into and the revenues are to be spent under the contractual obligation 14 15Activity costs were paid for and revenues are spent to reimburse a party for payment of the 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 subd. 13, during the year ended December 31, 2011? (If no error occurred, check no.) 17 Decertification Has this district been decertified? 18 YesNo Actual Decertification Date: 19 2011 State Auditor Annual Form.xlsPrinted 8/1/2013 Oak Park Heights - TIF 1-1 - 2011 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 Does 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 Years2011 Amount 3Bonds issued (other than refunding bonds)#$ 0$ 0 4Refunding bonds issued#$ 0$ 0 5Principal payments from tax increment#$ 0$ 0 6Interest payments from tax increment#$ 0$ 0 2011 State Auditor Annual Form.xlsPrinted 8/1/2013 Key To Drop-Down Menu for "Type" A- General Obligation Bonds B- Revenue Bonds C- Other Debt 7ABCDEFGHIJ Refunding Refunded Amount Pooled Type Final Issue Refunded (if 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: #N/A 8 2011 State Auditor Annual Form.xlsPrinted 8/1/2013 KLMNOPQRSTUVW PrincipalInterest Paid in Prior Paid in Prior Paid in Prior Paid in Prior Years From Years From Paid in 2011 Paid in 2011 Due in 2012 Years From Years From Paid in 2011 Paid in 2011 Due in 2012 Tax Other From Tax From Other Additions in Additions in From Tax Tax Other From Tax From Other From Tax IncrementSourcesIncrementSourcesPrior Years2011OutstandingIncrementIncrementSourcesIncrementSourcesIncrement #######$ 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 2011 State Auditor Annual Form.xlsPrinted 8/1/2013 Oak Park Heights - TIF 1-1 - 2011 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet Interfund Loans Interfund Loans YesNo 1Does this district have interfund loans outstanding after 2009? YesNo retired before 2010 2Did this district pay interest on interfund loans that were ? Interfund Loans AB 12/31/201012/31/2011 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 Years2011 Amount 7Principal payments paid from this district$ 0$ 0 8Interest payments paid from this district#$ 0$ 0 2011 State Auditor Annual Form.xlsPrinted 8/1/2013 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) Type Resolution Final Resolution 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: #N/A 10 2011 State Auditor Annual Form.xlsPrinted 8/1/2013 HIJKLMNOPQR PrincipalInterest Prior Years 2011 Additions/Additions/Paid/Paid/ Draw Draw Paid/Rec'd in Paid/Rec'd in Reductions Reductions Rec'd in Rec'd in AmountAmountPrior Years2011Prior Yearsin 2011OutstandingDue in 2012Prior Years2011Due in 2012 #######$ 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 2011 State Auditor Annual Form.xlsPrinted 8/1/2013 Oak Park Heights - TIF 1-1 - 2011 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?#N/A 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 2011Through 2011Through 2011Through 20112011Through 20112011 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. § 8469.176, subd. 4c (d) (2010))#$ 0#######$ 0 Total documented PAYG costs to be paid with tax 9increment#$ 1,200,000#$ 0#$ 0#$ 0 ##$ 0#$ 0#$ 1,200,000 Principal and Interest 12/31/201012/31/2011 10Outstanding obligation contingent upon available tax increment$ 1,200,000$ 1,200,000 Prior Years2011 Amount 11Principal payments$ 0$ 0 12Interest payments$ 0$ 0 2011 State Auditor Annual Form.xlsPrinted 8/1/2013 A 13BCDEF Final Contract / Documented Name on Development AgreementIssue DateMaturity DateInterest Rate RangeNote AmountAmount #OAKGREEN COMMONS, LLC#08/27/2010#12/31/2026#6.900-6.900%#$ 1,200,000#$ 1,200,000 1 ####-%##$ 0 2 ####-%##$ 0 3 ####-%##$ 0 4 ####-%##$ 0 5 ####-%##$ 0 6 Comments: Interest Due 2012 is accrued interest through 12/31/11. Per Note, payments shall first be applied to accrued interest and 14#N/A then principal. 2011 State Auditor Annual Form.xlsPrinted 8/1/2013 GHIJKLMNO PrincipalInterest Additions/Additions/ Paid in Prior Reductions Reductions Paid in Prior YearsPaid in 2011Prior Yearsin 2011OutstandingDue in 2012YearsPaid in 2011Due in 2012 #$ 0#$ 0 #$ 0#$ 0#$ 1,200,000#$ 0#$ 0#$ 0#$ 111,090 1 #####$ 0#### 2 #####$ 0#### 3 #####$ 0#### 4 #####$ 0#### 5 #####$ 0#### 6 #N/A Comments 2011 State Auditor Annual Form.xlsPrinted 8/1/2013 Oak Park Heights - TIF 1-1 - 2011 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance SheetEICADS Project Costs Project Costs ABC Total Through Prior Years2011 Amount2011 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) (Minn. Stat. § 469.176, subd. 4c (d) 7(2010))#$ 0#$ 0#$ 0 8Authority administrative costs#$ 0#$ 0#$ 0 9County administrative costs#$ 0#$ 0#$ 0 10Subtract prior years' costs paid with public funds other than tax increment##$ 0 Total Project Costs (Other than PAYG) Paid or Financed with Tax Increment 11#$ 0#$ 0#$ 0 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 Increment 19$ 1,200,000 20$ 1,200,000 TOTAL PROJECT COSTS PAID OR TO BE PAID WITH TAX INCREMENT Amount of any payments included above for activities and improvements located outside the TIF district and paid for or financed with tax increment 21including administrative costs#$ 0 * Minnesota law requires segregation of tax increment by district. If public funds other than tax increment cannot be separated from prior years' line-item project costs, provide the best number available for project costs paid or financed with tax increment. It will be used for the remainder of the district. EIC 2011 State Auditor Annual Form.xlsPrinted 8/1/2013 Oak Park Heights - TIF 1-1 - 2011 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet Transfers Transfers YesNo 1Are there any transfers of tax increment to or from the district? ABCD Total Through 2011 District NamePrior Years2011 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 2011 State Auditor Annual Form.xlsPrinted 8/1/2013 Oak Park Heights - TIF 1-1 - 2011 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance SheetEICADS Rev & Exp Revenues, Expenditures, and Changes in Tax Increment Balance ABC Total Through Prior Years2011 Amount2011 REVENUES 1Tax increment revenues distributed from the county#$ 0 #$ 0 #$ 0 2Interest and investment earnings#$ 0 #$ 0 #$ 0 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 #$ 0 #$ 0 EXPENDITURES 8Project costs (other than PAYG)#$ 0 #$ 0 #$ 0 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 #$ 0 #$ 0 13Interest on all other bonds#$ 0 #$ 0 #$ 0 14Interest on interfund loans#$ 0 #$ 0 #$ 0 Total Expenditures 15#$ 0 #$ 0 #$ 0 Revenues over (under) expenditures 16#$ 0 #$ 0 #$ 0 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 #$ 0 #$ 0 27Tax Increment balance (beginning 01/01/2011)#$ 0 28Tax Increment balance (ending 12/31/2011)#$ 0 2011 State Auditor Annual Form.xlsPrinted 8/1/2013 Oak Park Heights - TIF 1-1 - 2011 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet Balance Sheet Balance Sheet AB 12/31/201012/31/2011 ASSETS 1Cash#$ 0#$ 0 2Investments#$ 0#$ 0 3Due from other TIF districts#$ 0#$ 0 4Due from non-tax increment accounts#$ 0#$ 0 5Interest receivable#$ 0#$ 0 6Taxes receivable#$ 0#$ 0 7Other receivables#$ 0#$ 0 8Property held for resale#$ 0#$ 0 Total Assets 9#$ 0#$ 0 LIABILITIES 10Due to other TIF districts#$ 0#$ 0 11Due to non-tax increment accounts#$ 0#$ 0 12Accounts payable#$ 0#$ 0 13Deferred revenue#$ 0#$ 0 Total Liabilities 14#$ 0#$ 0 TAX INCREMENT BALANCE Total Tax Increment Balance 15#$ 0#$ 0 Total Liabilities and Tax Increment Balance 16#$ 0#$ 0 2011 State Auditor Annual Form.xlsPrinted 8/1/2013 Oak Park Heights - TIF 1-1 - 2011 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$ 0 2Multiply the above amount by 1.2$ 0 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$ 0 6Subtract total tax increment returned to the county$ 0 7Subtotal A$ 0 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, 2011 Add transfers of increment made prior to December 31, 2011, used to pay for Minn. Stat. § 469.1763 deficits 11 12Subtotal B$ 2,886,737 13Excess increment (Subtract subtotal B from subtotal A)$ (2,886,737) 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*$ (2,886,737) *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). 2011 State Auditor Annual Form.xlsPrinted 8/1/2013 Oak Park Heights - TIF 1-1 - 2011 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet ADS 2011 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, 2011. 3Stillwater Gazette08/02/2012 (Name of the Newspaper)(Date of Publication) TIF 1-1 4Current net tax capacity$ 4,105 5Original net tax capacity$ 4,105 6Captured net tax capacity$ 0 7Principal and interest payments due in 2012$ 111,090 8Tax increment received in 2011$ 0 9Tax increment expended in 2011$ 0 10Month and year of first tax increment receipt07/2011 11Date of required decertification12/31/2026 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 2011, this increase in taxes on other properties amounted to $. Additional information regarding this district may be obtained from: Name: 13City of Oak Park Heights, Betty Caruso Address: 1414168 Oak Park Blvd City: 15Oak Park Heights 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. 2011 State Auditor Annual Form.xlsPrinted 8/1/2013 Oak Park Heights - TIF 1-1 - 2011 Annual Reporting Form HomeOverviewDistrict InfoDebtInterfund LoansPAYGProject CostsTransfersRev & ExpBalance Sheet Comments Comments Please enter any additional comments regarding this district: Overview Corrections: First Collection of Tax Increment 07/2012. Date of Decertificaton 12/31/2027. Estimated 1 Bonds to be issued $0.00. We have a PAYG note for $1,200,000 with the developer.