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certified by the commissioner of revenue may be added to the TIF <br />District's original tax eapaeity. <br /> <br />No tax increment shall in any event be paid to the City from TIF <br />District No. 2 after twenty-five years from the date of receipt by the <br />City of the first increment. <br /> <br />L. Limitation on Administrative Expenses. <br /> <br /> Pursuant to Section 469.176, Subd. 3 of the TIF Act, administrative expenses <br />are limited to 10 percent of the total tax increment expenditures. Each time the <br />City increases the budget of TIF District No. 2, the amount of tax increment <br />money allocated to administrative costs may be increased as long as the total of <br />administrative expenditures does not exceed 10 percent of the total budget of the <br />TIF District. <br /> <br />M. Limitation on Boundary Changes. <br /> <br /> The geographic area of TIF District No. 2 may be reduced, but it cannot be <br />enlarged after October 16, 1991, which is five years following the date of <br />certification of the original tax capacity by the Anoka County Auditor. <br /> <br />N. Relocation. <br /> <br /> Although no relocation is anticipated, the City accepts as binding its <br />~',b[igations under state law for relocation and will administer relocation services <br />for families, individuals and businesses displaced by public action. <br /> <br />O. Parcels to be Acquired Within the TIF District. <br /> <br /> It is not anticipated at the present time that the City will acquire property <br />within TIF District No. 2. <br /> <br />P. TIF Account. <br /> <br /> The tax inerement received with respect to the TIF Districts within <br />Development District No. i shall be segregated by the City in a special account on <br />its official books and records or held by a trustee for the benefit of holders of <br />bonds issued to finance development activities. <br /> <br />Q. Estimate of Proiect Costs. <br /> <br /> In addition to previously-budgeted public costs, the City expects to provide <br />site improvements related to an office and manufacturing facility to be developed <br />by ParaBody, Inc. The City also expects to fund construction of an extension of <br />McKinley Street within TIF District No. 2, financed by tax increment from the <br />ParaBody development and other parcels in the TIF District. <br /> <br />9 <br /> <br /> <br />