Laserfiche WebLink
ADMINISTRATIVE EXPENSES <br />In accordance with M.S., Section 469.774, Subd. 14, administrative expenses <br />means all expenditures of the City, including but not limited to: <br />(1) amounts paid for services provided by bond counsel, fiscal <br />consultants, and economic development consultants; <br />(2) allocated expenses and staff time of the authority or municipality for <br />administering a project, including but not limited to preparing the tax <br />increment financing plan, negotiating and preparing agreements, <br />accounting for segregated funds of the district, preparing and <br />submitting required reporting for the district, and reviewing and <br />monitoring compliance with M.S. Sections 469.774 to 469.7794; <br />(3) amounts paid to publish annual disclosures and provide notices <br />under section M.S. Section 469.775; <br />(4) amounts to provide for the usual and customary maintenance and <br />operation of properties purchased with tax increments, including <br />necessary reserves for repairs and the cost of any insurance; <br />(5) amounts allocated or paid to prepare a development action response <br />plan for a soils condition district or hazardous substance subdistrict; <br />and <br />(6) amounts used to pay bonds, interfund loans, or other financial <br />obligations to the extent those obligations were used to finance <br />costs described in clauses (1) to (5). <br />Administrative expenses and administrative costs do not include: <br />(1) amounts paid for the purchase of land or buildings; <br />(2) amounts paid to contractors or others providing materials and <br />services directly connected with the physical development of the <br />real property in the project, including architectural and engineering <br />services and materials and services for demolition, soil correction, <br />and the construction or installation of public improvements; <br />(3) relocation benefits paid to or services provided for persons residing <br />or businesses located in the project; <br />(4) amounts paid for property taxes or payments in lieu of taxes; and <br />City of Ramsey <br />Tax Increment Financing District No. 20 (Trident) 11 <br />