Waconia TIF Statement – Cherry Street

Waconia  –  TIF 3 Cherry Street
2012 Annual Disclosure Statement
1. Name of Development Authority: Waconia
2. Name of Municipality: Waconia
The following information represents the annual disclosure of tax increment districts for the year ended December 31, 2012.
3. Waconia  Patriot (Name of the Newspaper), 08/08/2013 (Date of Publication)
TIF 3 Cherry Street
4. Current net tax capacity    $51,278
5. Original net tax capacity    $53,796
6. Captured net tax capacity    $0
7. Principal and interest payments due in 2013    $4,073
8. Tax increment received in 2012    $0
9. Tax increment expended in 2012    $0
10. Month and year of first tax increment receipt    08/2013
11. Date of required decertification    12/31/2021
12. The total increased property taxes to be paid from outside the district if fiscal disparities Option A applies*    $0
(All lines within the table above must be published even if the amounts to be published are zero.)
* The fiscal disparities property tax law provides that the growth in commercial-industrial property tax values is shared throughout the area. In a tax increment financing district, this value sharing can either result in a tax increase for other properties in the municipality or result in a decrease in tax increment financing district revenue depending on how the tax increment financing district is established.
Tax Increment Financing District TIF 3 Cherry Street does not share its growth in commercial-industrial property tax values.  This results in an increase in property taxes for other properties in this municipality. For taxes payable in 2012, this increase in taxes on other properties amounted to $0.00.
Additional information regarding this district may be obtained from:
Nicole Lueck
201 Vine Street South
Waconia, MN 55387
(952) 442-2184
[email protected]
(Published in The Waconia Patriot Aug. 8, 2013)