Annual Disclosure of Tax Increment Districts

City of Ely, Minnesota
Annual Disclosure of
Tax Increment Districts for
The Year Ended December 31, 2017
District Name: TIF District #1 TIF District #3
Current Net Tax Capacity $35,754 $38,820
Original net tax capacity $147 $2,342
Captured net tax capacity $35,607 $36,478
Principal and Interest
Payments Due in 2018 $89,589 $5,326
Tax Increment Received in 2017 $63,287 $43,293
Tax Increment Expended in 2017 $86,740 $6,998
Month and Year of first
Tax increment receipt 10/1989 05/1998
Date of required decertification 12/31/2021 12/31/2026

Additional Information regarding each district may be obtained from:
Dan Smith, Assistant Treasurer
209 E Chapman St
Ely, MN 55731
218-226-5473
Ely Echo September 15, 2018