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increment financing plan, the authority shall certify to the <br />county auditor in the annual disclosure report that the <br />activity has commenced, The county auditor shall certify <br />the value thereof as most recently certified by the <br />commissioner of revenue and add it to the original Net Tax <br />Capacity of the tax increment financing district% <br />R, Limitation on the Use of Tax Increment <br />All revenue derived from tax increment shall be used in <br />accordance with the tax ,increment financing plan, The <br />revenues shall be used to finance or otherwise pay public <br />capital and administration costs pursuant to Minnesota <br />Statutes, Section 469.124 through 469.134. These revenues <br />shall not be used to circumvent existing levy limit law. No <br />revenues derived from tax increment shall be used for the <br />construction, renovation, operation or maintenance of a <br />building to be used primarily and regularly for conducting <br />the business of a municipality, county, school district, or <br />any other local unit of government or the state or federal <br />government; this provision shall not prohibit the use of <br />revenues derived from tax increments for the construction or <br />renovation of a parking structure, a commons area used as a <br />public park or a facility used for social, recreational or <br />conference purposes and not primarily for conducting the <br />bus pess of the municipality. <br />S& Notification of Prior Planned Improvements <br />Pursuant to Minnesota Statues, Section 469,177, Subdivision <br />4, the City has reviewed and searched the properties to be <br />included in the tax increment financing redevelopment <br />district. No permits have been issued for any of the <br />projects under consideration. <br />T, Excess Tax Increment <br />Pursuant to Minnesota Statutes, Section 469.176, Subdivision <br />2, in any year in which the tax increment exceeds the amount <br />necessary to pay the costs authorized by the tax increment, <br />plan, including the amount necessary to cancel any tax levy <br />as provided in Minnesota Statutes, S e ct i o n 475.61, <br />Subdivision 3, the City shall use the excess amount to: <br />l . prepay its outstanding tax increment bonds; <br />2. discharge the pledge of tax increment therefore; <br />3, pay into an escrow account dedicated to the <br />payment of such bond; . <br />4, repay any loans including interest on these loans, <br />or <br />