Local governments in Minnesota had $410 million of outstanding general obligation bond debt in 2010 related to tax-increment financing districts, according to a new analysis compiled by state auditor Rebecca Otto’s office.

A total of $1.7 billion in TIF financing was owed, but pay-as-you-go funding drawn from increased taxes generated within the district accounted for $780 million of that, while revenue-backed borrowing accounted for $210 million.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.