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CITY OF PARK RAPIDS, MN Annual Disclosure of Tax Increment Districts for the Year Ended December 31, 2020 TIF District Name/Number TIF 1 TIF 7 TIF 8 TIF 9 SW Neighborhood McGrane Housing Timbers Addn.

CITY OF PARK RAPIDS, MN
Annual Disclosure of Tax Increment Districts for the Year Ended December 31, 2020

TIF District Name/Number TIF 1 TIF 7 TIF 8 TIF 9
SW Neighborhood McGrane Housing Timbers Addn.Downtown

Current net tax capacity 0 40,667 49,375 93,636
Original net tax capacity 0 637 372 32,278
Captured net tax capacity 0 40,030 49,003 61,358
Principal and interest payments due in 2021 0 40,537 0 53,466
Tax increment received in 2020 624 54,004 65,858 47,461
Tax increment expended in 2020 697 46,076 478,069 20,013
Month and year of first tax increment receipt October, 1987 July, 2005 July, 2005 July, 2010
Date of required decertification Decertified 2012 December 31, 2030 December 31, 2030December 31, 2035
Increased property taxes to be paid from outside
the district if fiscal disparities Option A applies 0 0 0 0

TIF District Name/Number TIF 10 TIF 2-11 TIF 2-12
Armory Square Pleasant Court KI Developers

Current net tax capacity 21,626 43,012 94,579
Original net tax capacity 1,891 1,899 134
Captured net tax capacity 19,735 41,113 94,445
Principal and interest payments due in 2021 20,354 70,443 101,662
Tax increment received in 2020 28,744 51,130 124,393
Tax increment expended in 2020 32,504 46,547 164,424
Month and year of first tax increment receipt July, 2013 June, 2016 May, 2019
Date of required decertification December 31, 2038 December 31, 2041 December 31, 2044
Increased property taxes to be paid from outside
the district if fiscal disparities Option A applies 0 0 0


Additional information regarding each district may be obtained from:
Angel Weasner, Administrator
City of Park Rapids
212 West Second Street
Park Rapids, MN 56470
Phone: 218-732-3163
aweasner@arvig.net
(July 10, 2021) 2896099