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LEGAL NOTICE <br /> City of Orono,Minnesota <br /> Annual Disclosure of Tax Increment Districts for the Year Ended December 31,2010 <br /> Tax Increment <br /> Financing District No. <br /> TIF District Name: 1-1 <br /> Current net tax capacity 66,813 <br /> Original net tax capacity 5,250 <br /> Captured net tax capacity 61,563 <br /> Principal and interest payments due during current year 45,976 <br /> Tax increment received 51,476 <br /> Tax increment expended 46,364 <br /> Month and year of first tax increment receipt Jul-03 • <br /> Date of required decertification 12/31/2028 <br /> Increased property tax imposed on other properties as a result of <br /> fiscal disparities contribution* 0**� <br /> " The fiscal disparities property tax law provides that the growth in commercial-industrial <br /> property tax values is shared throughout the area. In a tax increment financing district, this • <br /> value sharing can either result in a tax increase for other properties in the municipality or <br /> result in a decrease in tax increment financing district revenue depending on how the tax <br /> increment financing district is established. <br /> ** The district above does not share growth in commercial-industrial property tax values. <br /> This results in an increase in property taxes for other properties located in that municipality. <br /> For taxes payable in 2010,this increase in taxes on other properties amounted to the values <br /> listed above. <br /> Additional information regarding each district may be obtained from: <br /> Ron Olson, Finance Director <br /> PO Box 66 Orono, MN 55323 <br /> (952)249-4611 <br /> (Published in The Laker and The Pioneer newspapers,August 20,2011) <br />