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()- <br />TAXINCREMENTFINANCINGHOUSINGDISTRICTNO.18 <br />IfaparcelisexcludedfromtheTIFDistrictandtheCity,orowneroftheparcelsubsequently <br />commencesanyoftheaboveactivities,theCityshallcertifytotheCountyAuditorthatsuch <br />activityhascommencedandtheparcelshallonceagainbeincludedintheTIFDistrict.The <br />CommissionerofRevenue,andaddsuchamounttotheoriginalnettaxcapacityoftheTIF <br />District. <br />- <br />SECTION4.04POOLINGANDFIVEYEARRULE <br />inSection469.174,Subd.11oftheTIFActwillbetreatedasanexpenditurewithinthedistrict <br />incrementswillbespentoutsidetheTIFDistrict(exceptallowableadministrativeexpenses),but <br />suchexpendituresareexpresslyauthorizedintheTIFPlan. <br />SECTION4.05FINANCIALREPORTINGANDDISCLOSUREREQUIREMENTS <br />TheCitywillcomplywiththeannualreportingrequirementsofStateLawpursuanttothe <br />submitareportontheTIFdistrictonorbeforeAugust1ofeachyear.TheCitymustalso <br />annuallypublishinanewspaperofgeneralcirculationintheCityanannualstatementforeach <br />Thereportinganddisclosurerequirementsoutlinedinthissectionbeginwiththeyearthe <br />andalltaxincrementshavebeenspentorreturnedtothecountyforredistribution.Failureto <br />ofdistributionoftaxincrement. <br />SECTION4.06BUSINESSSUBSIDYCOMPLIANCE <br />documentisanticipatedtobe100%forhousingassistance. <br />DRAFTFORPUBLICHEARINGOCTOBER9,201913 <br />24 <br /> <br />