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TIF Bonds

The table below shows the history of TIF bond use in Minnesota. It is compiled from State Auditor Reports of Cities and Counties Revenue and Expenditures. The overall trend since the late 1990s has been to reduce reliance on bond financing in favor of "pay-as-you-go" financing, where the developer (rather than the city) provides the financing. As of 2011, the bonds are exclusively debt of cities.

TIF Bonds by Type
1978-2015
(amounts in thousands)
Year General
Obligation
Bonds
Revenue
Bonds
Total
Bonds
  Year General
Obligation
Bonds
Revenue
Bonds
Total
Bonds
1978 NA NA $119,673   1997 $1,019,823 $387,360 $1,407,183
1979 NA NA $171,494   1998 $1,032,352 $295,093 $1,327,445
1980 NA NA $214,336   1999 $1,053,429 $249,157 $1,302,586
1981 NA NA $269,370   2000 $1,079,873 $222,614 $1,302,487
1982 NA NA $331,023   2001 $1,040,188 $212,290 $1,252,478
1983 NA NA $349,962   2002 $982,152 $211,723 $1,193,875
1984 $221,830 $140,905 $362,735   2003 $959,395 $192,731 $1,152,127
1985 $500,783 $165,415 $666,198   2004 $938,045 $209,201 $1,147,246
1986 $592,567 $226,925 $819,492   2005 $845,937 $191,029 $1,036,966
1987 $648,895 $276,653 $925,548   2006 $765,310 $182,935 $948,245
1988 $774,352 $308,700 $1,083,052   2007 $808,708 $183,648 $992,356
1989 $756,345 $450,792 $1,207,137   2008 $756,566 $103,360 $859,926
1990 $960,450 $428,202 $1,388,652   2009 $716,151 $82,459 $798,610
1991 $901,258 $410,255 $1,311,513   2010 $557,626 $80,450 $640,076
1992 $880,632 $402,407 $1,283,039   2011 $506,424 $61,005 $567,429
1993 $971,994 $396,720 $1,368,714   2012 $436,590 $51,788 $488,378
1994 $985,363 $379,885 $1,365,248   2013 $404,095 $44,096 $448,155
1995 $1,037,464 $361,175 $1,398,639   2014 $365,683 $64,716 $430,399
1996 $977,804 $382,604 $1,360,408   2015 $362,837 $73,255 $436,092

Note that the amount of bonds can fluctuate considerably from year to year. This tends to be the result of a few cities paying off or issuing large amounts of bonds. For example, between 1997 and 1998 three large cities (Bloomington, Minneapolis, and St. Paul) accounted for virtually all of the $92 million reduction. In 2010, two cities (Minneapolis and Bemidji) accounted for over $100 million of the reduction from 2009.

May 2017

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