02-575ORIGlNAL
Presented By
Green Sheet # ��� 8.'t�
RESOLUTION
CITY OF
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RefeYred To
Council File # �'S.� 5�5
Resolution #
PAUL, MINNESOTA
,�
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Committee: Date
RESOLUTION APPROVING THE AMENDED AND RESTATED TAX INCREMENT FINANCING
PLAN FOR THE EMERALD PARK TAX INCREMENT FINANCING DISTRICT
BE IT RESOLVED by the City Council of the City of Saint Paul, Minnesota (the "City") as follows:
Section 1. Recitals.
1.01. On November 28, 2001, the Housing and Redevelopment Authority of the City of Saint Paul,
Minnesota (the "Authority") established the Franklin Emerald Redevelopment Project Area (the
"Redevelopment Project Area") and adopted a redevelopment plan therefor (the "Redevelopment Plan").
1.02. On November 28, 2001, the City Council approved the creation, within the Redevelopment
Project Area, of the Emerald Park Tax Increment Financing District (the "Tax Increment District") and the
adoption of a Tax Increment Financing Plan therefor (the "Tax Increment Plan"), a11 pursuant to and in
accordance with Minnesota Statutes, Section 469.174 tl�rough 469.179 (the "Tax Increment Act").
1.03. The Authority has determined that it is necessary to amend the Ta�c Increment Plan to reflect,
among other things, an increase in the number of owner occupied housing units to be constructed from 160 to
200, an accelerated construction schedule, and increases in the authorized expenditures. The Authority has
perFormed a11 actions required by law to be performed prior to the amendment of the Tax Increment Plan,
including, but not limited to, notification of Ramsey County and Independent School District Number 625,
which have taxing jurisdiction over the property included in the Tax Increment District, and has requested
that the City approve the amendments to the Tax Increment Financing Plan following the holding of a public
hearing upon published and mailed notice as required by law.
Section 2. Findings for the Acnendment of the T� Increment Financing Plan.
2.01. The City Council hereby finds that the Amended and Restated Tax Increment Financing Plan
dated June 26, 2002 (the "Amended and Restated T� Increment Financing Plan") is intended and, in the
judgment of the City Council, its effect will be, to cany out the objecfives of the Redevelopment Plan and to
create an impetus far the redevelopment of blighted azeas and the construction in the City of affordable and
anixed income housing, will increase employment and otherwise promote certain public purposes and
accomplish certain objectives as specified in the Redevelopment Plan and Tax Increment Financing Plan, as
amended.
36 2.02. The City Council hereby reaffirms its previous findings that the Franklin Emerald Tax
37 Increment Financing District qualifies as a"redevelopment district" within the meaning of the Tax Increment
38 Act for the following reasons:
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0 �� V�7 Y��Increment Financing District is, pursuant to Minnesota Statutes, Section � a"��
469.174, Subdivision 10(al(1), a"redevelopment districY' because it consists of a project or
portions of a project withii: which the following conditions, reasonably distributed throughout
the District, exist (1) parcels consisting of at least 70% of the area of the District aze occupied
by buildings, streets, utilities, paved or gravel parking lots, or other similar structures; and (2)
more than 50% of the buildings located within the Tax Increment Financing District are
"structurally substandard" (within the meaning of Minnesota Statutes, Section 469.174,
Subdivision 10(b)) to a deeree requiring substantial renovarion or cleazance.
The District consists of 18 pazcels, and parcels consisting of 100% of the azea in the
Tax Lncrement Financing District is occupied. There are 14 buildings in the Tax Increment
Disirict, of which 12 (constituting 86%) aze siructurally substandazd to a degree requiring
renovafion or clearance. The buildings are structurally substandard because they contain
defects in structural elements or a combination of deficiencies in essential utilities and
facilities, light and ventilation, fire protection including adequate egress, layout and condition
of interior partitions, or similar factors, which defects or deficiencies are of sufficient total
significance to justify substantial renovation or clearance, specifically defects in structural
elements. In addition, the costs of bringing the structurally substandard buildings into
compliance with building codes applicable to new buildings would exceed 15% of the cost of
constructing new structures of the same size and type on the sites.
The supporting facts for these determinations are on file with the staff of the Authority and include but
aze not limited to the report of SEH, Inc., dated November of 2001.
2.03. The City Council hereby reaffirms the follo�ving findings:
(a) The City Council fiirther finds that the proposed development, in the opinion of the
City Council, would not occur solely through private investment within the reasonably foreseeable
fixture and, therefore, the use of tax increment financing is deemed necessary. The specific basis for
such fmding being:
The property on which housing development will occur would not be developed in the
reasonably foreseeable firture because it cunently contains several blighted buildings that have
been underutilized for many year. The developer has represented that it could not proceed
with the development without tax increment assistance.
75 (b) The City Council further finds that the Tax Increment Financing Plan, as amended,
76 conforms to the general plan for the development or redevelopment of the City as a whole. The
77 specific basis for such finding being:
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The Tax Increment Financing Plan will generally compliment and serve to implement
policies adopted in the City's comprehensive plan. The hosuing development contemplated is
in accardance with the existing zoning for the property.
(c) The City Council fi.irther finds that the TaY Increment Financing Plan, as amended, will
afford maximum opportunity consistent with the sound needs of the City as a whole for the
development of the Tax Increment District by private enterprise. The specific basis far such finding
being:
The proposed developinent to occur within the Tax Increment Financing District is
housing. The development will increase the taxable market valuation of the City. The
90 O i� �������ing in the Ci±y will be expanded by approximately 200 owner occupied units a�,_ S�
91 and approxunately 270 rental housing units with the completion of the development
92 contemplated by the Tax Increment Financing Plan.
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(d) For purposes of compliance with Minnesota Statutes, Section 469175, Subdivision
3(2), the City Council hereby finds that the increased market value of the properry to be developed in
the T� Increment District that could reasonably be expected to occur without the use of tax increment
fmancing is $-0- ; which is less than $47,819,833, which is the mazket value estimated to result from
the proposed development (i.e., $58,618,232) less the present value of the projected tax increments for
the m�imum duration of the "tax Increment District (i.e., $7,139,399). In making these findings, the
City Council has noted that the property has been undeveloped for many years and would likely
remain so if tax increment financing is not available. Thus, the use of tax increment financing will be
a positive net gain to the City, the School District, and the County, and the ta�c increment assistance
does not exceed the benefit which will be derived therefrom.
105 2.04. The provisions of this Section 2 aze hereby incorporated by reference into and made a part of
106 the Amended and Restated Tax Increment Financing Plan.
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Section 3
3.01
Approval of Amendment of the Tax Increment Financing Plan.
The Amended and Restated T� Increment Financing Plan for the Emerald Park Tax
111 Increment Financing District dated June 26, 2002, is hereby approved and the Amended and Restated Tax
112 increment Financing Plan is hereby adopted.
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114 3 A2. The staff of the City, the staff of the Authority and the City's and Authority's advisors and
115 legal counsel are authorized and directed to proceed with the implementation of the TaY Inerement District
116 and the Amended and Restated Tax Increment Financing Plan and for this purpose to negotiate, draft, prepare
117 and present to the Board of Commissioners of the Authority for its consideration all further plans, resolutions,
118 documents and contracts necessary for this purpose.
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120 3.03. The staff of the Authority is hereby directed to file a copy of the Amended and Restated Tax
Increment Financing Plan with the County Auditor of Ramsey County and the Commissioner of Revenue.
a� aoo�
`�'
� DEPARTMEN'LfOFFICEJCOUNCSL: DATE IN[TIATED GREEN SHEET NO.'11IL7O O
PED - Downtown Team 6/12/02 '
CONTACC PERSpN & PHONE: ��vnATE m7TTaunA'l'e
Diane Nardquist (6-6640) � 2 DEPARTMENT DIR. � CIl'Y COUNCIL
MIJST BE ON COUNCII. AGENDA BY (DATE) �SIGN 3 CITY ATTORNEY CTT'Y CLERK
June 26 � ZOOL ���}� , n`UM6ER I�FINANCIAL SERV DIA. _ FINANCIAL SERV/ACCTG
ppg �MAYOR(ORASSTJ CIVILSERVICECOMMISSI
ROUTING �N RIGHTS DEPT. 1 ROBERT SCHREIER
ORDER
.
TOTAL # OF SIGNAI'URE PAGES _I_(CLIP ALL LOCATIONS FOR SIGNATlJRE)
nc1'iox �QvES'rEn: Approval of a Resolution Approving the Amended and Restat�d Tax Increment Financing Plan for the
Emerald Pazk Tax Increment Financing District
RECObA9ENDATIONS: Approve (A) or Reject (R) PERSONAL SERVICE CONTRACTS MUST ANSWER TAE FOLLOWING
QOESTIONS:
PLANNING COMIvIISSION 1. Has this person/ficm ever worked under a conVac[ for th�s department?
CtB COMMITTEE Yes No
CTVIL SERVICE COMMISSION 2. Has this petson/fimi ever been a ciTy employee?
Yes No
3. Does this person/fittn possess a skilt not nortnally possessed by any curtent ciry employee?
Yes No
Ezplain all yes answers on separa[e sheet an� attach to green sheet
INII7ATING PROBLEM, ISSUE, OPPORTUNITP (Who, What, When, Where, Why). �ri M3}' 23� Z�02� 1.�1e HRE� a�7�7TOV0C1 &Tl
Amended and Restated Development Agreement with Emerald Park, LLC (a.k.a. Wellington Management and
HuntGregory) to construct up to 200 units of for-sale condominiums. On March 13, 2002, the HRA approved a
Development Agreement with Dominium Developers to constnxct up to 270 rental housing units. The number of
total units has increased since the TIF Plan was approved in November 2001 and therefore the b�et requires an
amendment.
ADVANTAGESIFAPPROVED:
If approved the developers will be able to move forward with constructing up to 470 new units of owner occupied and rental
housing
DISADVANTAGESIFAPPROVED:
None.
ncsanvnnznces tF Nor nrrxoven 470 new owner occupied and rental housing units will not be constructed.
TOTAL AMOUNT OF TRANSACTION: 3 COST/REVENUE BODGETED:
Ff1NDINGSOUACE: TaXlnciBlriOritFittanCing ACTIVI'CYNUMBER:
FINANCPAd, d1VFORMATION: (EXPLAIN) � � � � � � �
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II1�ACT ON TAX BASE
Ramsey County
City of St. Paul
ISD No. 625
2001l2002 est
Total Net
Tag Caaacitv
Estimated Captured
T� Capacity (CTC�
Unon Completion
265,297,880
118,596,652
118,425,000
1,523,678
1,523,678
0.0028%
0.0064%
0.0064%
IMPACT ON TAX RATES
2001/2002 est Percent Potential
Extension Rates of Total CTC Taxes
Ramsey County 0.507640 38.97% 1,523,678 773,480
City of St. Paul
ISD No.625
0387230
1 �:.'1
29.73% 1,523,678
26.77% 1,523,678
590,014
531,291
Other: 0.059030 4.53% 1,523.678 89,943
Total 1.302540 100.00% 1,984,728
The estimates listed above display the captured ta�c capacity when all construction is completed.
The ta7c rate used for calculations is the estimated 2001/Pay 2002 rate. The total net capacity for
the entities listed above are based on Pay 2002 figures. The District will be certified under the
actua12001/Pay 2002 rates.
Percent of CTC to
Entitv Total
1332442v5 �\ D-i
oa� -S�t 5
AMENDED AND RESTATED
TAX INCREMENT FINANCING PLAN
for the establishment of
EMERALD PARK TAX INCREMENT FINANCING DISTRICT
(a redevelopment district)
HOUSING AND REDEVELOPMENT AUTHORITY OF THE
CITY OF SAINT PAUL
RAMSEY COUNTY
STATE OF NIINNESOTA
Adopted: November 28, 2001
Amended: June 26, 2002
This document was drafted by:
BRIGGS AND MORGAN (MMD)
Professional Association
2200 First National Bank Bldg.
St. Paul, MN 55101
(651)223-6625
1332442v6
TABLE OF CONTENTS
(for reference purposes only)
AMENDED AND RESTATED TAX INCgEMENT pINANCING PLAN
FOR T'F� EMERALD PARI{ TA�y INCREIvfENT FINANCING DISTRICT
PaQe
Section l . ..............
...............................
Section 2. . . . . . . . . . . . . . . . . Forwazdl
........................
. . . . . . . . . . . . . . . . . . . . . . . . . . . . Statutory Authorityl
Secrion 3 . ........................
""'•••••••••••••• StatementofObjecfivesl
Section 4 . . . . . . . . . . . . . . . . . . .
' ' ' ' ' ' ' ' ' ' � • • • • • • • • • • • • • • • . • . . Redevelopment Plan Overview2
Section 5 . . . : : : : : : : : : : : . . . . . . . . pazcels to be Included in Tax Increment Financing District2
Section 6. . .
. . . . . . . . . . . . . . . . . . . . . Parcels to be Acquired2
��ent Activity in Tas Increment Financing District for wluch Contracts have been Signed
2 -
Section 8. Other Specific bevelopment Expected to Occur within Redevelopment Project Area3
Section 9 . . . . . . . . . . . . . . . . Estimated Cost of Project; Tax Increment Financing plan Budget3
Secfion 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Estimated Amount of Bonded Indebtedness3
Section 11 . . . . . . . . . . . . . . .
Section 12. � ' � ' ' ' ' ' ' ' ' • • - • • Sources of Revenue3
• • • • • • • • • • . . . . Estimated Captured Ta�c Capacity and Estimate of Ta�c Increment3
Section 13. . Type of Tas Increment Financing District4
Section 14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Duration of Tas Increment Financing District4
Section 15 . . . . . . . . . . . . . . . . . . . Estimated Impact on Other Taxing Jurisdictions4
Section P(�dification of TaY Increment Financing District and/or Tas Increment Financing Plan4
Section 17 . . . . . . . . . . . . . . . . . . . . . . . . . . . Modifications to TaY Increment Financing District4
Secrion 18 . ...............
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Adminisirative E�enses5
Section 19 . ...............
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Limitation of Increment6
Section 20. . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Use of Tas Increment7
Section 21 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Notification of Prior Planned Improvements8
Section 22 . . . . . . . . . . . . . . .
............. ................... Excess TaxIncremants8
Section 23 . . . . . . . . . . . . . . . . . . . . . .
Section 24. '''''''� R��ments for Agreements with the Developer8
' ' ' ' ' ' ' ' ' � • • • • • • • • • • • • • • • • • . . Other Limitations on the Use of Tas Increment9
Section 25 . ..............
Section 26. .................................... County Road Costsl0
� � � � � � � � � � ' ' � ' ' ' ' • • • . . Assessment Agreementsl0
................
Section 27 . . . . . . . . . . . . . . . . . . . . . . Administration of the TaY Increment Financing Dishictl0
Secrion28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
• • • Financial Reporting Requirementsl0
EXHIBIT A- Pazcel Identification Numbers
EXHIBIT B- Tax Increment Financing Plan Budget
EXHIBIT C- Projected Tas Increments
EXHHIBIT D- Estimated Impact on Other Taxing Jurisdictions
1332442v6
A�.-S�S
AMENDED AND RESTATED TAX IIVCREMENT FINANCING PLAN FOR
TI� EMERALD PARK TAX II•ICREMENT FINANCING DISTRICT
Section 1. Forward. The Housing and Redevelopment Authoriiy of the City of Saint
Paul, Minnesota (the "HRA��), and its staff and consultants have prepazed the following
information for the establishment of a redevelopment tas increment financing disirict (the "Tax
Increment Financing District"). The Tax Increment Financing District is located within the
Franklin-Emerald Redevelopment Project established by the HRA (the "Redevelopment Project
Area") pursuant to a redevelopment plan (the "Redevelopment Plan") adopted by the HRA on
November 28, 2001.
The originai TaY Increment Financing Plan was approved by the HRA and the Ciry on
November 28, 2001. The Tas Increment Financing Plan was amended on June 26, 2002.
Secrion 2. Statutory Authoritv. There e�st azeas within the City of Saint Paul (the
"City") where public involvement is necessary to cause development to occur. To this end, the
HRA has certain statutory powers pursuant to Minnesota Statutes, Section 469.001 to 469.047
(the "HRA Law"} and Minnesota Statutes, Secfion 469.174 through 469.179 (the "Tax Increment
Financing Act" or "TIF AcY'), to assist in fmancing public costs related to a redevelopment
project.
Section 3. Statement of Obiectives. The T� Increment Financing District consists of the
pazcels of land identified in Exhibit A and adjacent and internal rights-of-way. The TaY
Increment Financing District is being created to facilitate the development and redevelopment of
housing facilities. The taac inerement financing plan is expected to achieve the objectives
outlined in the Redevelopment Plan for the Redevelopment Project Area. The following are
some of the objectives being facilitated by the Taac Increment Financing plan.
A• Provide Affordable Housing for Saint Paul Residents.
The available housing for residents in the City wiil be expanded when the housing
facilities which are anticipated to be constructed in the azea aze built.
B• To Redevelop Underused Property.
The Tax Increment Financing District currently contains several commercial buildings
that are blighted or have been underutilized for many yeazs. In order to protect existing
inveshnent and encourage new development in the area, substandard buildings need to be
demolished and new facilities need to be constructed.
C• Expand the TaY Base of the City of Saint Paul.
It is expected that the t�able market value of pazcels in the Tax Increment Financing
District will increase by approximately $72,300,000 as a result of the new development.
1332442vb
The acfivities contemplated in the Redevelopment Plan and this TaY Increment Financing
Plan do not preclude the undertaking of other qualified development or redevelopment activities.
These activities are auticipaYed to occur over tfie life of the Tax Increment Financing District and
the Redevelopment Project.
Section 4. Redevelopment Plan Overview.
1• Property to be Acquired - Any of or a11 of the properiy located within the Tax
Increment Financing District or Redevelopment Project Area may be acquired by
the HRA.
2• Relocation - if necessary, complete relocafion services aze available pursuant to
Minnesota Statates, Chapter 117 and other relevant state and federai laws.
3 • Upon approval of a developer's plan relatiag to a development and completion of
the necessary legal requirements, tha HRA may sell or assist a developer with the
cost of selected properties within the T� Increment Financing District or
Redevelopmenf Project Area, or may lease land or facilities to a developer.
Section 5. Pazcels to be Included in Ta�c Increment Financin District . The pazcels
located in the City of Saint Pau1, Ramsey Count�,, Mlnnesota Identified on E�ibit A aze to be
included in the Ta�c Increment Financing District.
F �� R ��RM�T��N REGARDING Tf-� IDENTIFICATION OF THE pARCELS TO
BE INCLUDED IN THE TAX INCREIvIENT FINANCING DISTRICT CAN gE OBTAINED
FROM T'F� EXECU'TiVg DIRECTOR OF TI-� HR�.
Secfion 6. PazceIs to be�� � �A may f��ce a11 or a part of the costs of
acquisition of the pazcels identified in Section 5 of this Tax Increment Financing plan.
The following are condifions under wluch properties not designated to be acquired may
be acquired at a future date:
� T�e �� maY �quire properly by gift, dedication, condemnation or direct
purchase from wiiling sellers in order to achieve the objecfives of the tax
increment financing plan� and
(2) Such acquisitions will be un$ertaken oaly when there is assurance of funding to
finance the acquisition and related costs.
Section 7. Develo ment Activi in Tax Increment Financin District for which
Contracts have been Si ed. The following contracts have been or will be entered into by the
HRA and the persons named below:
The FIItA has entered into a Development Agreement with Emerald Park LLC witii
respect to the construction of up to 200 owner occupied housing units and a Development
1332442v6 2
Da,- S�S
Agreement with St. Paul Leased Housing Associates I with respect to the construction of
approximately 280 rental units. The owner occupied housing development is eacpected to have
total development costs of $44,257,000 and to be completed by December 31, 2004 and the
rental development is expected to have total development costs of $38,000,000 and to be
completed by April 1, 2004.
The Authority has also entered into a Development Agreement with Emerald Street LLC,
in connection with the use of its power of eminent domain to acquire certain parcels needed for
the rental development.
Section 8. Other S ecific Develo ment Ex ected to Occur within Redevelo ment Pro'ect
Area. The HRA anticipates that other development in the TaY Increment Financing District will
include the renovaflon of an e�sting 32,000 square foot commerciai building in 2002 ar 2003 by
Emerald Street, LLC or an aff liate thereof.
Section 9. Esfimated Cost of Proiect: TaY Increment Financine Plan Budeet. The HRA
has determined that rt will be necessary to provide assistance far certain public costs of the
Development. To facilitate the Development within the Ta�c Increment Financing District, this
Tax Increment Financing Plan authorizes the use of tax increment financing to pay for a portion
of the cost of certain eligible expenses. The estimate of public costs and uses of funds associated
with TaY Increment Financing District is outlined on E�ibit B.
Estimated costs associated with Tas Increment Financing District are subject to change
and may be reallocated between line items by a resolufion of the HRA. The cost of all activities
to be financed by the tax increment will not exceed, without formal modification, the budget for
the taY increments set forth on E�ibit B.
Section 10. Estimated Amount of Bonded Indebtedness. The principal amount of
bonded indebtedness to be issued, which includes the principal amount of any pay-as-you-go
notes, is estimated to be $9,500,000 for the owner occupied housing development and
$3,500,000 for the rental development.
Section 11. Sources of Revenue. The costs outlined in Section 9 above will be financed
from bond proceeds or through the annual collection of taY increments, the loans or grants made
by other public agencies for the development, and private financing obtained by the Developer.
Potenfial public sources of revenue to pay the costs of development in the Taac Increment
Financing District aze the Metropolitan Council, City of Saint Paul STAR program, Miunesota
Housing Finance Agency, FannieMae, CDBG, DTED redevelopment funds, federal HOME and
Economic Development Initiative funds, proceeds of housing revenue bonds, tarc credits and any
other available federal, state or local grant or loan proceeds.
Section 12. Estimated Captured Taac Caoacitv and Estimate of TaX Increment. The most
recent taac capacity of Tax Increment Fmancing District is estimated to be $48,267 as of
January 2, 2001. The estimated captured taac capacity of Tax Increment Financing District at
1332442v6 3
completion of the developments in 2006 is estimated to be $753,118. A cash flow showing flie
estimated amount of ta�c increment to be generated during the duration of the Ta�c Increment
Financing Disirict and the assumptions on which the esiimates aze based are set forth on
Exfu�bit D.
The HRA elects to retain all of the captured tax capacity to finance the costs of Taac
Increment Financing District. The HRA elects the method of taac increment computarion set
forth in Miunesota Statutes, Section 469177, subd. 3(a).
Section 13. Tvne of Tas Increment Financin i�,�r�; +
District is a redevelopment district establishe '� T � �crement Financing
Subd. 10. Parcels consisting of 70 percent of the azea of th TaY Increment F S inancing District 4 �
aze occupied by buildings, streets, ufilities, paved or gravel parldng lots, or other similar
structures and more than 50 percent of the buildings, not including outbuiidings, aze structurally
substattdard to a degree requiring substanfia( renovafion or cleazance. The costs of bringing the
substandazd buildings into compIiance with t]ie building code applicable to new buildings is 15
percent or mare of the cost of constructing a new structure of the same square footage and type
on the site.
The reasons and supporting facts for these determinatious aze set forth in a report
prepazed by SEH, Inc., dated November, 2001, a copy of wluch is on file with the Executive
Director of the HRA,
The HRA and the City have determined that the proposed development of the Tax
Increment Financing District � not reasonably be expected to occur solely throngh private
investment within the reasonably foreseeable future and that the increased mazket value of the
site that could reasonably be expected to occur without the use of taac increment fittancing Would
be less than the increase in the mazket value estimated to result from the proposed development
after subtracting the present vatue of the projected taY increments for the maximum duration of
the district permitted by the plan.
Section 14. Duration of Tas Increment Financin District. The duration of the Tas
Increment Financing District will be 25 yeazs from the receipt of the first tax increment. The
date of receipt of the first tax increment is eapected to be July of 2003. Attached as Exhibit C is
the projected receipt of tax increments from the Tax Increment Financing District.
Section 15. Estimated Im act on Other Taxin Jurisdictions. If the construction within
the T� Increment Financing District would not have occurred without taic increment financing,
the impact is $0 to the other taYing jurisdi�hon� N �e fact that the construction
would not haue occurred without tax increment assistance, the esdmated impact of the T�
Increment Financing District if the "but for" test was not met is set forth on E�rhibit D.
Section 16. Modification of Tax Increment Financin District and/or Tax Increment
F�-- ��Plan. No modifications to the Ta�c Inerement Financing Dishict or the Tax Inerement
Financing Plan have been made as of the date hereof.
1332442v6 4
Da-s�.�
Section 17. Modiftcations to Tas Increment Financing District.
In accordance with Minnesota Statutes, Section 469. 175, Subd. 4, any:
1. reduction or enlazgement of the geographic area of the Tas Increment Financing
District;
2. increase in amount of bonded indebtedness to be incurred, including a
determination to capitalize interest on debt if that determivation was not a part of
the original plan, or to increase or decrease the amount of interest on the debt to
be capitalized;
3. increase in the portion of the captured net taY capacity to be retained by the HRA;
4. increase in total estimated tax increment expenditures; or
5. designation of additional properry to be acquired by the HRA,
shall be approved upon the notice and after the discussion, public hearing and fmdings required
for approval of the original plan.
The geographic azea of the Tax Increment Financing Disirict may be reduced, but shall not be
enlazged after five yeazs following the date of certification of the original net tax capacity by the
county auditor. The requirements of this pazagraph do not apply if (1) the only modification is
elimination of parcel(s) from the Tax Increment Financing District and (2)(A) the current net tax
capacity of the parcel(s) eliminated from the Tas Increment Financing District equals or exceeds
the net tax capacity of those pazcel(s) in the Tax Increment Financing DistricPs original net tax
capacity ar(B) the HI2A agrees that, notwithstanding Minnesota Statutes, Section 469. 177,
Subd. 1, the original net tax capacity will be reduced by no more than the current net tax capacity
of the pazcei(s) elixninated from the TaY Increment Financing District.
The HRA must notify the County Auditor of any modification that reduces or enlarges the
geographic area of the Tax Increment Financing District or the Redevelopment Project Area.
Modifications to the Taac Increment Financing District in the form of a budget modification or an
expansion of the boundaries wili be recorded in the Ta:c Increment Financing Plan.
Section 18. Administrative Expenses.
In accordance with Minnesota Statutes, Section 469.174, Subd. 14, and NTinnesota
Statutes, Section 469.176, Subd. 3, administrative expenses means a11 expendihxres of the HRA,
other than:
amounts paid for the purchase of land or amounts paid to contractors or others
providing materials and services, including architectural and engineering services,
directly connected with the physical development of the real property in the
district;
1332442v6
2. relocation benefits paid to or services provided for persons residing or businesses
located in the district; or
amounts used to pay interest on, fund a reserve for, or sell at a discount bonds
issued pursuant to Minnesota Statutes, Secfion 469.178.
Administrative expenses also include amounts paid for services provided by bond
counsel, fiscal consultants, and planning or economic development consultants. TaY increment
may be used to pay any authorized and doctunented administrative ea�penses for the Ta�t
Iucrement Financing District up to but not to exceed 10 percent of the total t� increment
expendihues authorized by the Tas Increment Financing Pian or the total ta�� increment
expendihues, whichever is less.
Pursuant to Minnesota Statutes, Section 469.176, Subd. 4h, taa� increments may be used
to pay for the county's acival administrative expenses incurred in connection with the TaY
Increment Financing District. The county may require payment of those expenses by February 15
of the yeaz following the year the expenses were incurred.
Pursuant to Minnesota Statutes, Section 469. 177, Subd. 1 l, the county treasurer shall
deduct an amount equal to 0.1 percent of any tax increment distributed to the HRA and the
county treasurer shall pay the amount deducted to the state tzeasurer for deposit in the state
general fund to be appropriated to the State Auditor far the cost of financial reporting of taat
increment financing information and the cost of ex min;ng �d auditing authorities' use of tax
increment financing.
Section 19. Limitafion of Increment.
Pursuant to Minnesota Statutes, Section 469. 176, Subd. 1(a), no tax increment shail be
paid to the HRA for the Tas Increment Financing District aftet three (3) yeazs from the date of
certification of the Original Net Tas Capacity value of the tasable property in the T� Increment
Financing District by the County Auditor unless within the three (3) yeaz period:
1. bonds have been issued pursuant to Minnesota Statutes, Section 469. 178, or in
aid of a project pursuant to any other law, except revenue bonds issued pursuant
to Miunesota Statutes, Sections 469.152 to 469.165, or
2. the HRA has acquired properiy within the T� Increment Financing District, or
3. the HRA has constructed or caused to be constructed public improvements within
tha Tas Increment Financing Dishict.
The ta�c increment pledged to the payment of bonds and interest thereon may be
dischazged and may be terminated if sufficient funds have been urevocably deposited in the debt
service fund or other escrow account held in irust for all outstanding bonds to provide for the
payment of the bonds at maturity or redemption date.
1332442v6 6
Or�S l..�
Pursuant to Mivnesota Statutes, Secfion 469.176, Subd. 6:
if after four years from the date of certification of the original net tax capacity of
the taY increment financing district pursuant to Mimiesota Statutes, Section
469.177, no demolition, rehabilitation or renovation of property or other site
prepazation, including qualified improvement of a street adjacent to a pazcel but
not installation of utility service including sewer or water systems, has been
commenced on a pazcel located within a tax increment financing dishict by the
authority or by the owner of the parcel in accordance with the taY increment
financing plan, no additional tax increment may be taken from that pazcel and the
original net taz� capacity of that pazcel shall be excluded from the original net tax
capacity of the tas increment financing district. If the authority or the owner of
the parcel subsequently commences demolition, rehabilitation or renovation or
other site prepazafion on that pazcel including qualified improvement of a street
adjacent to that parcel, in accordance with the taY increment financing plan, the
authority shail certify to the county auditor that the activity has commenced and
the county auditor shall certify the net taY capacity thereof as most recenfly
certified by the commissioner of revenue and add it to the original net taac capacity
of the tax increment financing district. The county auditor must enfarce the
provisions of this subdivision. For purposes of this subdivision, qualified
improvements of a street are lixnited to (1) construction or opening of a new street,
(2) relocafion of a street, and (3) substantial reconstruction or rebuilding of an
e�sting street.
Section 20. Use of TaY Increment.
The HRA hereby deternvnes that it will use 100 percent of ihe captured net tax capacity
of taYable properiy located in the Tax Increment Financing District for the following purposes:
to pay the principal of and interest on bonds used to finance a project;
2. to finance, or otherwise pay the capital and administration costs of the
Redevelopment Project Area pursuant to Minnesota Statutes, Sections 469124 to
469.134;
3. to pay for project costs as identified in the budget;
4. to fmance, or otherwise pay for other purposes as provided in Minnesota Statutes,
Section 469.1 76, Subd. 4;
5. to pay principal and interest on any loans, advances or other payments made to the
IIRA or far the benefit of the Redevelopment Project Area by the developer;
6. to finance or otherwise pay premiums and other costs for insurance, credit
enhancement, or other security guaranteeing the payment when due of principal
and interest on tas increment bonds or bonds issued pursuant to the T� Increment
1332442v6 7
Financing Plan or pursuant to Minnesota Statutes, Chapter 462C and Minnesota
Statutes, Sections 469.152 to 469.165, or both; and
to accumulate or maintain a reserve securing the payment when due of the
principal and interest on the taY increment bonds or bonds issued pursuant to
Minnesota Statutes, Chapter 462C and Minnesota Stahrtes, Secfions 469.152 to
469.165, or both.
These revenues shall not be used to circumvent any levy limitations applicable to the
HRA nor for other purposes prohibited by Minnesota Statutes, Secfion 469.176, subd. 4.
Section 21. Notification of Prior Pianned Improvements.
The HRA shall, after due and diligent seazch, accompany its request for certification to
the County Auditor or its notice of the Taz� Increment Financing District enlazgement with a
listing of all properties within the Tas Increment Financing District or azea of enlargement for
which building pernuts have been issued during the eighteen (18) months immediately preceding
approvat of the Tas Increment Financing Plan by the municipalily pursuant to Minnesota
Statutes, Secrion 469.175, Subd. 3. The County Auditor shall increase the original value of the
Tas Increment Financing District by the value of improvements for which a building permit was
issued.
Section 22. Excess Tax Increments.
Pursuant to Minnesota Statutes, Section 469.176, Subd 2, in any yeaz in which the tax
increment exceeds the amount necessary to pay the costs authorized by the Tas Increment
Financing Plan, including the amount necessary to cancel any tax levy as provided in Minnesota
Statutes, Section 475. 61, Subd. 3, the HRA shall use the excess amount to do any of tha
following:
1. prepay any outstanding bonds;
2. discharge the pledge of tax increment therefor;
pay into an escrow account dedicated to the payment of such bond; or
4. return the excess to the County Auditor for redisiribufion to the respective taxing
jurisdictions in proportion to their local taac rates.
In addition, the HRA may, subject to the limitations set forth herein, choose to modify the
Tas Increment Financing Plan in order to finance additional public costs in the Tas Increment
Financing District or Redevelopment Project Area.
Secfion 23. Requirements for Agreements with the Developer.
The HRA witi review any proposal for private deveIopment to deternune its conformance
1332442v6 8
Da--S��
with the Redevelopment Plan and with applicable municipai ordinances and codes. To facilitate
this effort, the following documents may be requested for review and approval: site plan,
construction, mechanical, and electrical system drawings, landscaping plan, grading and storm
drainage plan, signage system plan, and any other drawings or narrative deemed necessary by the
City to demonstrate the conformance of the development with city plans and ordinances. The
HRA may also use the Agreements to address other issues related to the development.
Pursuant to Minnesota Statutes, Section 469176, Subd. 5, no more than 10 percent, by
acreage, of the property to be acquired in the Tas Increment Financing District as set forth in the
Plan shall at any time be owned by the HRA as a result of acquisition with the proceeds of bonds
issued pursuant to Minnesota Statutes, Section 469. 178, without the IiR A having, priar to
acquisition in excess of 10 percent of the acreage, concluded an agreement for the development
or redevelopment of the property acquired and which provides recourse for the HRA should the
development or redevelopment not be completed.
Section 24. Other Limitations on the Use of T� Increment.
General Limitations. All revenue derived from tax increment shall be used in
accordance with the Tax Increment Financing Plan. The revenues shall be used to
finance, or otherwise pay the capital and administration costs of the
Redevelopment Project Area pursuant to the Minnesota Statutes, Sections 469.124
to 469.134;
These revenues shall not be used to circumvent eacisting levy 1'unit law. No
revenues derived from tax increment sha11 be used for the acquisition,
construction, renovation, operation or maintenance of a building to be used
prunarily and regulazly for conducting the business of a municipality, county,
school district, or any other local unit of government or the state or federal
government, or for a commons area used as a public pazk, or a facility used for
social, recreation or conference purposes. This provision shall not prohibit the use
of revenues derived from tax increments for the construction or renovation of a
pazking structure.
2, Pooline Limitations. At least 75 percent of tax increments from the Tax
Increment Financing District must be expended on activities in the Tax Increment
Financing District or to pay bonds, to the e�ctent that the proceeds of the bonds
were used to finance activities within said district or to pay, or secure payment of,
debt service on credit enhanced bonds. Not more than 25 percent of said taa�
increments may be expended, through a development fund or otherwise, on
activities outside of the Tax Increment Financing District except to pay, or secure
payment of, debt service on credit enhanced bonds. For purposes of applying this
restriction, all aduiinistrative expenses must be treated as if they were solely for
activities outside of the TaX Increment Financing District.
Five Yeaz L'unitation on Commitrnent of Tas Increments. Tax increments derived
1332442v6
from the Ta�c Increment Financing District shall be deemed to have satisfied the
75 percent test set forth in pazagraph (2) above only if the five year rule set forth
in Minnesota Statutes, Section 469. 1763, Subd. 3, has been satisfied; and
beginning with the sixth yeaz following certification of the T� Increment
Financing District, 75 percent of said tax increments that reinain after
expenditutes pernutted under said five yeaz rule must be used only to pay
previously commitment eapenditures or credit enhanced bonds as more fully set
forth in Minnesota Statutes, Section 469.1763, Subd. 5.
¢. E�enditures Outside District. The HRA hereby elects to spend an addifional ten
percent of the tax increments on activities located outside the Tax Increment
District as permitted by Minnesota Statutes, Section 469.1763, subd. 2(d)
provided th2t the expenditures meet the following requirements:
(1) they aze used exclusively to assist housing tliat meets the
requirements for a qualified low-income building as defined in Section 42 of the
Internai Revenue Code of 1986, as amended (the "Code");
(2) they do not exceed the qualified basis of housing as defined under
Section 42(c) of the Code less the amount of any credit allowed under Section 42
of the Code, and
(3) They aze used to (i) acquire and prepaze the site for housing, (ii)
acquire, construct or rehabilitate the housing or (iii) make public improvements
direcfly related to the housing.
Section 25. County Road Costs.
Pursuant to Minnesota Statutes, Section 469. 175, Subd. la, the county board may require
the HRA to pay for all or part of the cost of county road improvements if, the proposed
development to be assisted by ta�c increment will, in the judgment of the counry, substantially
increase the use of county roads requiring constnlction of road 'unprovements or other road costs
and if the road improvements aze not scheduled within the next five yeazs under a capital
improvement plan or other county plan.
In the opinion of the I3RA and consultants, the proposed development outlined in this
Tax Increment Financing Plan will have little or no impact upon county roads. If the c� o f
elects to use increments to improve county roads, it must notify the I�RA withm th1rtY 3'
receipt of this Tas Increment Financing Plan.
Section 26. Assessment Agreements.
Pursuant to Minnesota Statutes, Section 469. 177, Subd. 8, the HRA may enter into an
agreement in recordable form with the developer of properry within tha Tax Increment Financing
District which establishes a minimum market value of the land and completed improvements for
the duration of the Ta�c Increment Financing District. The assessment agreement shall be
1332442v6 10
o�-s� �
presented to the assessor who shall review the plans and specifications for the improvements
constructed, review the mazket value previously assigned to the land upon which the
improvements aze to be constructed and, so long as the minimum market value contained in the
assessment agreement appear, in the judgment of the assessor, to be a reasonable estimate, the
assessor may certify the ininimum ma�'ket value agreement.
Section 27. Administ�ation of the T� Increment Financing District.
Adininistration of the T� Tncrement Financing District will be handled by the Executive
Director of the HRA•
Section 28• Financial Reporting Requirements.
'1'he HIZA will comply with ail reporting requirements of Minnesota Statutes, Section
469.175, Subd. 5, 6 and 6a.
1332442v6 11
�:��:
parcel IdentificationNumbers of Pazcels included in Tax Increment Financing District:
29-29-23
29-29-23
29-29-23
29-29-z3
29-29-23
29-29-z3
29-29-23
29-29-z3
29-29-23
29-29-z3
29-29-23
29-29-23-3
29-29-233
29-29-23-33
29-29-23-3
29-29-23-33
29-29-23-3
29-29-23-3
1332442v6 A-1
01-S�f
B-1-1
1332442v6
�.11: : '
AIVIENDED TAX INCREMENT FINANCING PLAN BUDGET
Name of District:
Type of District:
Duration of District:
Franklin/Emerald
Redevelopment
25 years
SOURCES OF FUNDS
Tax Increment Revenue
Interest of Invested Funds
Bond Proceeds
Loan Proceeds
Rea1 Estate Sales
Special Assessments
Rent/Lease Revenue
Crrants (Specify):
I3RA
Other Sources (Specifyj:
Equity
Transfers In (Specify):
Private Contributions
Tota1 Sources of Funds
USES OF FUNDS
Land/Building Acquisition
Site Improvements/Prepazation Costs
Installation of Public Utilities
parking Facilities and Foundation
Streets and Sidewalks
Social, Recreational
Interest Reduction Payments
Bond Principal Payments
Bond Interest Payments
Loan Principal Payments
Loan/Note Interest Payxnents
Administrative Costs
Pollution Abatement
Bond Issuance Costs
Capitalized Interest
Contingency
* Net of State Auditor Deduction
AMOUNT
$13,115,895*
100,000
13,215,895
AMOUNT
3,210,000
3,768,126
1,3I1,589
500,000
1332442v6
E�TT B-2 (OWNERSHIP)
AMENDED TAX INCREMENT FINANCING PLAN BUDGET
Name of District:
Type of District:
Durafion of District:
Franklin/Emerald
Redevelopment
25 years
SOURCES OF FUNDS
T� Increment Revenue
Interest of Invested Funds
Bond Proceeds
Loan Proceeds
Real Estate Sales
Special Assessments
Rent/Lease Revenue
Grants (Specify):
III2A
Other Sources (Specify):
Equity
Transfers In (Specify):
Private Contributions
Total Sources of Funds
USES OF FiINDS
Land/Building Acquisition
Site Improvements/Prepazation Costs
Installation of Public Utilities
Pazking Facilities and Foundation
Streets and Sidewalks
Social, Recreafional
Interest Reduction Payments
Bond Principal Payments
Bond Interest Payments
Loan Principal Payxnents
Loan/Note Interest Payments
Administrative Costs
Pollution Abatement
Bond Issuance Costs
Capitalized Interest
Contingency
Other Uses (Specify):
Tas Credit Rental Housing
AMOUNT
$20,815,961 ** Net of
State Auditor
Deduction
5,486,000
100,000
26,401,961
AMOUNT
$2,100,000
1,100,000
350,000
3,240,000
5,486,000
6,290,735
2,081,596
314,440
920,700
1,000,000
3,518,490
a�. S��
B-2-1
1332442v6
O+rS��
EXI�BTT B-3 (COMN�RCIAL)
AMENDED TAX INCREMENT FINANCING PLAN BUDGET
Name of District:
Type of District:
Durafion of District:
Franklin/Emerald
Redevelopment
25 years
SOURCES OF FUNDS
Tas Increment Revenue
Interest of Invested Funds
Bond Proceeds
Loan Proceeds
Real Estate Sa1es
Special Assessments
Rent/Lease Revenue
Grants (Specify):
HRA
Other Sources (Specify):
Equity
Transfers In (Specify):
Private Contributions
Total Sources of Funds
USES OF FUNDS
Land/Building Acquisition
Site Improvements/Prepazation Costs
Installation of Public Utilities
Pazking Facilities and Foundation
Streets and Sidewalks
Social, Recreational
Interest Reduction Payments
Bond Principal Payments
Bond Interest Payments
Loan Principal Payments
Loan/Note Interest Payments
Administrative Costs
Pollution Abatement
Bond Issuance Costs
Capitalized Interest
Contingency
Other Uses (Specify):
Taat Credit Rental Housing
Net of State Auditor Deduction
AMOUNT
$1,555,819**
5,486,000
100,000
26,401,961
I:��I[1If1� Y
$2,100,000
1,100,000
350,000
3,240,000
5,486,000
6,290,735
2,081,596
314,440
920,700
1,000,000
3,518,490
B-3-i
1332442v6
oa -s�s
EXFIIBIT B-3 (CO1VIl�4ERCIAL)
AMENDED TAX INCREMENT FINANCING PLAN BUDGET
Name of District:
Type of District:
Duration of District:
Franklin/Emerald
Redevelopment
25 years
SOURCES OF FUNDS
T� Increment Revenue
Interest of Invested Funds
Bond Proceeds
Loan Proceeds
Real Estate Sa1es
Special Assessments
Rent/Lease Revenue
Grants (Specify):
HRA
Other Sources (Specify):
Equity
Transfers In (Specify):
Total Sources of Funds
USES OF Fi1NDS
LandlBuilding Acquisition
Site Improvements/Prepazation Costs
Installation of Public Utilities
Parking Facilities and Foundation
Streets and Sidewalks
Social, Recreational
Interest Reduction Payments
Bond Principal Payments
Bond Interest Payments
Loan Principal Payxnents
Loan/Note Interest Payxnents
Admuustrative Costs
Pollution Abatement
Bond Issuance Costs
Capitalized Interest
Contingency
Other Uses (Specify):
LJnspecified
AMOUNT
$1,555,819** Net of
State Auditor
Deduction
1,555,819
AMOUNT
155,582
950,000
B-3-1
1332442v6
Ers��
��i�i� i �
DispanEes
n Rate
s Yw Go Revenue Noro Raie
Psp Contr�tution RaEo
ies Fvst Taz Imemmt
wement c receiveE in MO2 «2003. d� ViG wa Ee sMrteneC
ot Ta Invement
ttVaWa 6ate
0¢Paribes PeRent
Ren9on Rate-Ama WiEe
Mnsim Rate-Fmzen
aensm Rxa-Curtant
ttW"e�oemeni llvarytleOenAng upon marketvalue,tax atxz,tlasz ates,
ucLon sUeaule, ana innation on maM1et value Innation on taz rates
Ncw ReEevabpmmt Psma
Ouivae ot Dktrict
S OOOO�b
G15 .
WA
300a
26
Ot-Fe?02
WA
WA
t30259 Average
130259 Average
PROJECtVAlUE1NGORMATON
MaAH Value Tmes Total Tolal
C�aze 5a R Sp Ft Per Taxes Tax Capaary Tas MaAat
Umk Uni6 .FVUnit Ra(e Value P aEle
A 111,805 10 j3.01961 30,195 23,iB1 1.W% 3.318050 ZW5
A 20.5,660 4 5320J20 12.801 9,82) 100% 983.]20 2005
A YI8,3i0 2 33.820 33 ].299 $.SGS 1 00% 556.C80 2005
A 219,150 2 53.W8]9 ]2]8 5,58] 100% 550,]00 2005
A 28],305 2 53,]62.61 ],<85 5,]66 1 00% 5]d,810 2005
A n0,820 Y E3,]88 19 ],5]8 S,ei6 t00% 58t,660 2005
A M6,000 2 508556] 7.P11 5.920 t00% 592.000 2005
P 23�,tl0 6 S�A41 t6 12,165 9.309 1.00% 9�3.880 2W5
A 251,9]0 6 5328216 13.129 10.0]9 1.00% 1,OW,880 2W5
A 269.�50 4 53.25322 1],013 9.990 1.00% 999.000 2005
A I50,6T5 4 E0,I652] 13,061 10,U2T 140% 1,Q02,](IO 2005
A 38J,605 6 E1.89621 14,T]] H396 1A�% 1,D4,420 2005
A 169000 8 Si.92]89 15a2; 119A0 t00% UBa.WO 2005
TOTAL PHASE A 52 161B81 126 261 II C28,080
B 2J896] ie 50.tII]t ta9.at0 ttap02 t00°6 tta]0,22a 2005
TOTALPHASEB d8 169.GW 116,>02 11C)0226
C Df,805 �0 53,0194] 30,t95 YS.19� t00% ]AfB.050 2006
C ?A5,680 4 E3.20020 12.80� 9,021 100% 982.120 2006
G 3]8,200 2 53.82a33 ].3a9 5,563 140% 556480 2006
C Z]9,150 2 53,638 ]9 ].DB 5.58] t 00% 558.]00 2006
C 36],IPS 2 5374241 ],485 5.)06 t00W 9a.610 2006
C 390,830 2 33.]88 19 ],5)6 5,816 1 005 SB1.BC0 ?006
C 396,000 2 53.8556] ],111 5,920 t.00% 592000 2006
C 2JJ,410 i 53,04146 12,165 9 339 1 00°a 9J},880 20�8
C 351,W0 a 53.38244 13,129 10.0�9 1p0% 1.00]800 2006
C 249,T50 a S],25022 13,013 9.990 1.00% 999.000 2008
C 2W.6T5 4 53.3fi52] 13.W1 10.02] 100% 1.002.]00 2008
C 28J.b05 4 SJ.69421 16,R) 1t,3aa 100% 1t3aC20 2006
C 160000 8 51.92].83 15a23 1L090 100% tt9a000 IOW
TOTALFHASEC 52 t61861 1242fi1 12626.OB0
D 2J896J 48 53H2]t 1694ID NEJOZ 1004e it6]0.220 IOO6
TOTALPHASED d8 1494W Hd]02 tta)022<
T�TALGHASEALLPAHSE50 2�0 822.542 4]1926 4:]92.608
O� �J I �
FyetM2
smrzmz
0.0
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0.0
0.0
0.5
10
15
20
25
30
35
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65
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55
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aenoa
1-AUg
1-Feb
i-AUg
t-FeG
t-AUg
4Feb
1-Aug
LFeb
t-Aug
t-Feb
�-�
t-Feb
1-AUg
1-Feb
t-AUg
1-Feb
t-AUg
1-Feb
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t-Fab
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t-Feb
1-AUg
1-Feb
1-AUg
t-Feb
YAUg
1-Feb
1-AUg
t-FeE
1-AUg
1-FeE
1-AUq
iFeb
t-AUg
t-Feb
1-AUg
LFeb
t-AUg
1-FeE
t-AUg
1-Geb
tAUg
i-Feb
1-AUg
LFeb
t-AUg
YFeC
t-AUg
1-Feo
1-Aug
1-Feb
1-Aig
t-Feb
2002
2003
]W3
2004
2W<
2q05
1�05
2068
2008
200]
200]
2008
2008
2009
2D09
20t0
za�o
20n
ZOtt
Z012
2012
20f3
20t3
20t4
20t4
2015
2015
2018
20t6
20t]
20i]
zoie
Z(I18
2019
2019
2020
2020
202t
2021
2022
zau
2023
2023
2026
2026
2025
2025
2026
21126
202]
zan
2028
2028
2029
Annual
Base Taz
6.649
6,849
6,6n9
6,fi49
6,649
6,649
6,669
6,649
6,fi49
6,fi69
6,6C9
6,fi69
6,fi49
8,649
6,649
6,669
6,fi49
6,60.9
6,fi49
6,fiC9
6,fi99
6,649
fi 649
6,649
6,649
6.669
6,669
6.669
B.BM19
B.fi69
6.669
8.699
8,80.9
B,Bn9
fi fi49
6,649
6.644
6.ea9
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