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or water systems, has been commenced <br />parcel <br />located <br />ownea flthe parcel <br />a tax <br />increment financing district by the authority orby the <br />in accordance with the tax increment nancinand the o original assessed plan, no additional value of <br />tax <br />increment may be taken from that parcel <br />that parcel shall be excluded from theoriginal asses ed value <br />l e f the <br />tax <br />increment financing district. If the authority <br />or cel <br />subsequently commences demolition, rehabilitation or renovation or other <br />site preparation on that parcel including improvement <br />ofia street adjacplan,he <br />to that parcel, in accordance with the tax <br />increment authority shall certify to the county auditor in the annual disclosure report <br />that the activity has commenced. The county auditor shall certify the <br />assessed value thereof as most recently certified yothe <br />com i sionerent of <br />revenue and add it to the original assessed vUe <br />financing district. <br />R. Limitation on the Use of Tax Increment <br />All revenues derived from tax increment shall be used *n accordance venues shall be used to finaneeior <br />th <br />the tax increment financing plan. The re <br />otherwise pay public redevelopme shall not bet costs pused to ci cumursuant to ivent�"' tngu evy <br />Chapter 472A. These revenues <br />limit law. No revenues derived from ci tax d primarily <br />for the <br />construction or renovation of a municipally y owned building use <br />and regularly for conducting the business the from tax municipality; <br />this <br />eintsrovision <br />shall not prohibit the use of revenues derived <br />for the <br />construction or renovation of a parkl�glsreereational or purposes <br />mons area used as a <br />public park or a facility used for social, <br />and not primarily for conducting the business of the municipality. <br />S. Notification of Prior Planned Improvements <br />Pursuant to Minnesota Statutes Section 273.76+ Subdivision <br />viniit,e tax Increment <br />reviewed and searched the properties to be Includederties for which building <br />financing redevelopment district and found no prop <br />permits have been issued during the 181sn bythecity. calf Ithe building <br />approval of the tax increment financing p y preceding royal of the <br />permit had been Issued within the monthperiod <br />county auditor shall increase <br />tax increment financing plan bthe city, y the <br />the original assessed value of the district by thW�� j,�Ue�va�xcluding the <br />improvements for which tion of the <br />the building permit <br />rmit was issued <br />assessed valuation of improvements for which Ceedlldi said eapprovaI of the <br />during Cement financing hree month planas eriod certified t immediately he assessor. <br />tax increment <br />T. Excess Tax Increments <br />Pursuant to :Minnesota Statutes, Section 273.75, SeeessarYo to sIn any pay he ear In <br />costs <br />which the tax increm(int exceeds the amount necessary. <br />_ y. <br />authorized by the tax increment plan, Including the amount necessary to <br />cancel any tax levy as provided in Minnesota <br />Stoatutes, Section 475.617 <br />Subdivision 3, the City shall use the ex <br />12 <br />