Agenda - Council Work Session - 11/13/2012

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(i) acquisition of land and buildings through condemnation or purchase; (ii) site improvements or preparation costs; (iii) installation of public utilities, parking facilities, streets, roads, sidewalks, or other similar public improvements; (iv) administrative costs, including the allocated cost of the authority; and (v) for housing districts, construction of affordable housing; (15) the amount of any payments for activities and improvements located outside of the district that are paid for or financed with tax increments; (16) the amount of payments of principal and interest that are made during the reporting period on any nondefeased: (i) general obligation tax increment financing bonds; and (ii) other tax increment financing bonds, including pay-as-you-go contracts and notes; (17) the principal amount, at the end of the reporting period, of any nondefeased: (i) general obligation tax increment financing bonds; and (ii) other tax increment financing bonds, including pay-as-you-go contracts and notes; (18) the amount of principal and interest payments that are due for the current calendar year on any nondefeased: (i) general obligation tax increment financing bonds; and (ii) other tax increment financing bonds, including pay-as-you-go contracts and notes; (19) if the fiscal disparities contribution under chapter 276A or 473F for the district is computed under section 469.177_ subdivision 3, paragraph (a), the amount of total increased property taxes to be paid from outside the tax increment financing district; and (20) any additional information the state auditor may require. (d) The reporting requirements imposed by this subdivision apply to districts certified before, on, and after August 1, 1979. Subd. 6a. [Repealed, 2000 c 490 art 11 s 441 Subd. 6b.Duration of disclosure and reporting requirements. The disclosure and reporting requirements imposed by subdivisions 5 and 6 apply with respect to a tax increment financing district beginning with the annual disclosure and reports for the year in which the original net tax capacity of the district was certified and ending with the annual disclosure and reports for the year in which both of the following events have occurred: (1) decertification of the district; and (2) expenditure or return to the county auditor of all remaining revenues derived from tax increments paid by properties in the district. Subd. 7.Creation of hazardous substance subdistrict; response actions. (a) An authority which is creating or has created a tax increment financing district may establish within the district a hazardous substance subdistrict upon the notice and after the discussion, public hearing, and findings required for approval of or modification to the original plan. The geographic area of the subdistrict is made up of any parcels in the district designated for inclusion by the municipality or authority that are designated hazardous substance sites, and any additional parcels in the district designated for inclusion that are contiguous to the hazardous substance sites, including parcels that are contiguous to the site except for the interposition of a right-of-way. Before or at the time of approval of the tax increment financing plan or plan modification providing for the creation of the hazardous substance subdistrict, the authority must make the findings under paragraphs (b) to (d), and set forth in writing the reasons and supporting facts for each.