City of Saline





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City of Saline
Local Development Finance Authority
REPORT ON STATUS OF TAX INCREMENT FINANCING PLAN
June 30, 2016
Information on the status of the Local Development Financing Authority (LDFA) tax increment financing plan is provided per Public Act 281 of 1986, as amended:
  LDFA #1 LDFA #2
     Shelton District   Sauk Trail District
REVENUES    
Property taxes $            164,521 $                516,017
Interest                              0                             612
Total Revenue $            164,521 $                516,629
EXPENDITURES    
Administrative $              26,595 $                  32,580
Contributions to Municpal Streets 130,521 314,882
Contributions to Water and Sewer                    17,168                      193,152
Total Expenditures 174,284 540,614
EXCESS OF REVENUES OVER EXPENDITURES $               (9,763) $                 (23,985)
FUND BALANCE – July 1, 2015 $              50,238 $                227,653
FUND BALANCE – June 30, 2016 $              40,475 $                203,668
BOND RESERVE ACCOUNT $                        0 $                  50,000
CONTINUING PROJECTS RESERVE $                        0 $                177,653
OUTSTANDING  BONDED  INDEBTEDNESS $                        0 $                            0
DEVELOPMENT AREA INITIAL ASSESSED VALUE    
Ad Valorem $                        0 $                185,600
Commercial  Facilities    
Restored 0 0
New 0 0
Industrial Facilities    
Restored 0 0
New 0 0
CAPTURED ASSESSED VALUE RETAINED    
Ad Valorem $        4,458,424 $           14,272,159
Commercial  Facilities    
Restored 0 0
New 0 0
Industrial Facilities    
Restored 0 0
New $                        0 $             9,986,359
 

CITY OF SALINE LOCAL DEVELOPMENT FINANCE AUTHORITY

Signed: Peter Kozma, Treasurer Date:  December 8, 2016

 

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