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City of Roseville,, Minnesota Section S Tax Increment Pooling and the Five Year Ruffle As permitted und�er M�innesota Statutes, Section 469.1763, subdivision 2(b) and subdivision 3(a)(5), any expend�iture' • e e • the TIF District to, pay the cost • • •je defined e •lta Statutes, Se • 4. 11 will be treated as an e pr e e • the purpolse • the of e d th e year rule". T-l:p i/ dano-esai� niirrnrafli/ �Iain� �-nv dwzinrsi� �Iain 71F` '='ILJ' IT.IW1WS1 IIIIWL INIZAIISAILIJ LIF.W.I. VS./% **III X11W S1JV11WIIL LII1W 1111 JEF I IS' LI I IT i "rssktio�rnXln nvrzinrsiono� lail 1� 01 inla, nvrainraidifi irne orn nvrairnock/ ni �Iaio —71r:' 011ors, W.19.11 11 111 • IISILVW.U'*S� 1111 11 I'M. I Although the City currently d�oles nolt h�ave e a e of tax increments olutsid�e the _.apcific pins for th spe�n�d�inq increments as expressly authorized in th�is TIF'Plan M�old�ificatioln. Section T Limitation on Administrative Expenses (1) amolun�ts paid for the purch�ase of land; (2) amolun�ts paid for materials and services, imclud�im g architectural and em gin�eerim g services directly connected with the physical development of the real prolpeerty in the projeect; (3) relocation been�eefits paid to,, oir seervicees provided fair, peersoin�s resid�im g oir busin�eessees located in the projeect; (4) amolun�ts used to, pay primcipal or imteerest oin�, fund a reseervee for, oir well at a d�iscolumt boin�d�s issued pursuan�t to, section 469.178; oir (5) amolun�ts used to, pay olth�eer finamcial oibligatiolnms to, the eexteen�t tholsee oibligatiolnms wears Used to, fin�an�cee costs described in clause (1) to, (3). Ad e e pr e d�e e used to, establish and ad er the T'IF'District, the amo paid for services provided by bond colun�sel, fiscal coin�sultan�ts, plan�n�in�g oir ecoin�olmic development coin�sultan�ts, and actual costs incurred by the Colun�ty in ad�min�isterin�g the TIF District. Tax in�cremen�ts may be used to, pay ad�min�istrative expe es of the TI F District up to, the le er of (a) 10% of the tota e e e pr es authorized by the TIF Plan • (b) 10% of the tota emen�ts received by the TIF District. Section U Limitation on Property Not Subject to Improvements -1 Fouir Year Ruffle If after four years from certification • the TIF District no d�e ollitioln�, re oln�, ren�olvatioln�, • qualified improlve e • an a4ace ee ommenced • a parce ocated within the TIF District, the parcel sh�all be excluded from the TIF District and the oirigin�al n�et tax capacity sh�all be adjusted accoird�in�gly. Qualified improlvemen�ts of a street are limited to, construction oir olpen�in�g • ew street, relocation • a street, • substan�tial reconstruction oir rebuild n�g • an existin�g street. The City must submit to, the Co d oir, by February 1 of the fifth year, evid�en�ce th�at the required a en place for each parce e TIF District. If a parcel is excluded from the TIF District and the City oir o er of the parcel subsequently colmmences any of the above activities, the ertify to, the Colunty Aud�ito ommenced and the parcel sh�all oince again be included in the TIF District. T'h�e Colunty Aud�itoir sh�all certify the net tax capacity of the parcel, as moislill recently certified by the Colmmissiolner of Revenue, and add such amolunt to, the oiriginal net tax capacity of the TIF District. SPRINGS�TED Page 9