Financial Statements – CITY OF FOREST LAKE

2016 ANNUAL DISCLOSURE STATEMENT

Name of Development Authority: Forest Lake Economic Development Authority

Name of Municipality: City of Forest Lake

The following information represents the annual disclosure of tax increment districts for the year ended December 31, 2016.

Forest Lake Times on 8/10/17

*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 #1 Industrial Park, Tax Increment Financing District #2 Cherrywood Pointe, and Tax Increment Financing District #87 Centennial Office Park share growth in commercial-industrial property tax values.

Additional information regarding each district may be obtained from:

Aaron Parrish [email protected]

Name of TIF Representative Email:

1408 Lake Street South, Forest Lake, MN 55025 (651) 464-3550

Address (Street, City, Zip) Phone

Published in the

Forest Lake Times

August 10, 2017

718584

http://forestlaketimes.com/wp-content/uploads/sites/36/2017/08/718584-1.pdf

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