6B, Public Hearing Proposed TIF District Resolution 2010-081, -082 & -083

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standard questions in a connty ar school district written policy regarding #ax increment districts and impact on county ar school district services. The county or school district must request additional information pursuant to M.S. S'ection 469.175 Subd. 2(h) within IS days after r�cezpt of the tax ir�crernent financing plan. No reauests for additional information from the county or school district regarding the proposed developir►ent far ihe Disirict ha�e been received. Su�isection 2-15. 5upporting Documentafior� Pursuant to M.�S', Section 469.175, Subd. 1{aj, ciause 7 the TIF Plan. must cqntain identification and description of studies and analyses used to make t�e detezmination set fortl� in M.S. Section 469.175, Subd. 3, clause (G)(2} and the �ndings ate required in the resolution approving the District. Following is a list of reports and studies on fle at the Cify that support the City's fmdir�gs: • Renewal and Renovation Qualif cations Study, I.,HB, November 19, 2010. 5ubsection 2-46. Def�ni�ion of Tax Increment Revenues Pursuant to M. S., Section 4b9.174, 5'ubd. 25, tax incremeni revenues derived from a tax increment financing district include all of the following potential revenue sources: 1. Taxes paid by the captured net tax capacity, but excluding any excess taxes, as compuiec� under M. S., Section 469.177; 2. The proceeds from the sale or lease of property, tangzble or intangible, to the extent the property was purchased by the City with tax incremen#s; 3. Principal and interest received on loans or ather ac�vances mad� by the City with tax i�crements; 4. Interest or other investment earnings on or from t� increments; 5. Repay�x�.ents or refurn of tax increments made to the City under agreemen�s for districts for which the request for certi�cation was made after August 1, 1993; and G. The market �alue homestead credit paid to the City under M.S., Section 273.1384. Subsection 2-17. Modifications to the Districi In accaz-dance with M.S., S'ection 469.175, Subd. 4, any: 1. Reduction or enlargement ofthe geograplzic area of Development District Np. 1 or the District, if the reduction does not zneet the requiremen�#s of M.S., Section 469.175, Subd. 4{e}; 2. Increase in amount of bonded indebtedness to be incurred; 3. A determination to capitalize interest on debt if that deterrnination was not a part of the original TIF Plan; 4. Increase in the portion of the captured net tax capacity to be retained by th� City; 5. Increase in the estirnate ofthe cost of the District, including administrati�e expenses, that wiII be paid or financed with tax inerement from the District; or 6. Designatian of additional property to be acquired by the City, shall be approved upon the notice and after the discussion, public hearing and findings required far approval of the original TIF Plan. Pursuant to M.S. Section 469.175 Subd. 4(f}, the geographic area of the District may be reduced, but shalX not be enlarged after f ve years following tk�e date of certification of the original net ta�c capacity by the county Ci[y of Arden Hills Tax Increment Financing Plan for TIF DistricE No. 4 2-9