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City of Roseville,, Minnesota <br />(1) prior to July 1, the City sh�all notify the Co • • occurred <br />in the TIF District d�uring the pa orded in a timely <br />it,,niier. <br />(2) if the Colun�ty Aud�itoir receives the request for cerfification of a n�ew TIF District, or for modification of <br />an existin�g TIF District, before July 1, the request sh�all be reco ocal tax rates <br />for the curren�t and subsequen�t levy years. Requests received on or after July 1 sh�all be used to, <br />d�etermin�e local tax rates in subsequen�t years. <br />(3) each year the <br />• • • the • of the TIF <br />District. The amo • • the following: <br />(a) the value of prolperty th�at ch�anges from tax-exempt to, taxable sh�all be adde�l to, th� <br />• • the T'IF'District. T'h�e� re�ve�rse� sh�all also, apply; i <br />(b) the oiriginal net tax capacity may be modified by any approved enlargement or reduction of <br />the T'IF'District; <br />Ic if laws golvern�in�g the class ification of real prolperty cause ch�an�ges to, the percen�tage of <br />k ) <br />estimated market value to, be applied for pro olses, then the resultin�g in�crease <br />or d�ecrease in n�et tax capacity sh�all be applied prolpoirtioln�ately to, the oirigin�al n�et tax <br />capacity and the retained captured n�et tax capacity of the TIF District. <br />1113 <br />Section AB Financial Reporting and Disclosuire Re�quiire�me�n�ts <br />T'h�e City will comply with all repoirting require e�nts for the d�e e olta Statutes, Section 469.175, <br />stiWivisiolis 5;n10 6. <br />S�PRINGS�TED Page 12 <br />