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Tax Increment Revenue <br />$185,708,929 <br />Interest on Invested Funds <br />Bond Proceeds <br />Loan Proceeds <br />Grants <br />Other <br />0 <br />Total <br />$185,708,929 <br />Section L Estimated Sources of Revenue <br />(AS MODIFIED MAY27, 2014) <br />The estimate of public costs and uses of funds associated with the District is outlined in the following <br />table. <br />USES OF TAX INCREMENT FUNDS TOTAL <br />Land /Building Acquisition $0 <br />Site Improvements /Preparation $0 <br />Utilities $0 <br />Other Qualifying Improvements $61,825,343 <br />Administrative Costs (up to 10 %) $18,570,896 <br />PROJECT COST TOTAL $80,396,239 <br />Interest $105,312,690 <br />PROJECT AND INTEREST COSTS TOTAL $185,708,929 <br />The total project cost, including financing costs (interest) listed in the table above does not exceed the <br />total projected tax increments for the District as shown in Section L. <br />Estimated costs associated with the District are subject to change among categories without a <br />modification to this TIF Plan. The cost of all activities to be considered for tax increment financing will <br />not exceed, without formal modification, the budget above pursuant to the applicable statutory <br />requirements. Pursuant to 2010 LAWS of Minnesota, Chapter 389, Article 7, Section 22(e) the in- <br />district percentage for purposes of the restriction on pooling under Minnesota Statutes, Section <br />469.1763, Subdivision 2, for this district is 100 percent. <br />The City anticipates using future tax increments for reimbursement of public costs incurred from Section K. As <br />increments are collected from the TIF District in future years, a portion of these taxes will be reserved by the <br />City as reimbursement for public costs incurred (primarily land acquisition), either through internal funding or <br />general obligation or revenue debt. The City also anticipates providing financial assistance to the proposed <br />developments through the use of a pay -as- you -go technique. As tax increments are collected from the TIF <br />District in future years, a portion of these taxes will be distributed to the developer /owner as reimbursement for <br />public costs incurred that relate to redevelopment of the project site. <br />City of Ramsey <br />Modification to the Tax Increment Financing Plan for Tax Increment Financing District No. 14 7 <br />