Financial Statements – CITY OF NEW HOPE


Name of TIF Authority: New Hope EDA

Name of Municipality: New Hope

The following information represents the annual disclosure of tax increment districts for the year ended December 31, 2015.

New Hope Golden Valley Sun Post on 8/25/2016

(All lines within the table 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 Districts Hsg and Redev 85-2. Redev Dist 03-1 Winnetka Green, and Redev Dist 08-1 – City Center SE

do 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 2015, this increase in taxes on other properties amounted to $0, $8,774, and $0.

Additional information regarding each district may be obtained from:

Kirk McDonald

Email: [email protected]

4401 Xylon Ave N, New Hope, MN 55428


Note to preparer Publishing the last line of the table and the two paragraphs following the table is necessary only if a TIF district in the municipality is located in the fiscal disparities area and the municipality chose option A under Minn. Stat. 469.177. subd 3(a), for the TIF district.

Published in the

New Hope-Golden Valley Sun Post

August 25, 2016


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