CITY OF NEWPORT 2011 ANNUAL DISCLOSURE STATEMENT

Newport 2011 Annual

Disclosure Statement

1 Name of Development Authority: Newport

2 Name of Municipality: Newport

The following information represents the annual disclosure of tax increment districts for the year ended December 31, 2011.

3 (Name of the Newspaper) Washington County Bulletin

(Date of Publication) 08/22/2012

Redev Dist 1

4 Current net tax capacity $ 0

5 Original net tax capacity $ 0

6 Captured net tax capacity $ 0

7 Principal and interest payments due in 2012$ 0

8 Tax increment $3,465

received in 2011

9 Tax increment $ 1,121,752

expended in 2011

10 Month and year of 06/1986

first tax increment receipt

11 Date of required decertification

12/01/2011

The total increased property $ 0

taxes to be paid from outside

the district if fiscal disparities

Option A applies*

* 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 District Redev Dist 1 does 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 2011, this increase in taxes on other properties amounted to $0.

Additional information regarding this district may be obtained from:

13 Name: Brian Anderson

14 Address: 596 7th Avenue

15 City: Newport

16 State: MN

17 Zip Code: 55055

18 Phone: (651) 459-5677

Enter as 6512962551.

19 Email:

banderson@newportmn.com

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 optio "A" under Minn. Stat. 469.177, subd. 3(a), for the TIF district.

8/22/2012

Tags: public notices, general legals