|
City of New Brighton -
<br /> Projected Captured TIF Tax Capacity i,1tr.r•
<br /> Ramsey County Actual FINAL Projected
<br /> Decertifies 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
<br /> Captured TIF Tax Capacity
<br /> Current Districts
<br /> TIE 7 2050 Hwy 8 12/31/2013 87,211 82,535 74,195 83,143 85.637 0 0 0 0 0
<br /> I TIF 10 JLN Development 12/31/2013 101,435 96,243 86,381 81,613 64,061 0 0 0 0 0
<br /> 1TIF 11 Trainor Enterprises 12/31/2013 34,170 32,380 28,980 28.980 29.849 0 0 0 0 0
<br /> TIF 12 Harstad Office Building 12/31/2014 102,770 96,982 76,664 78,664 81,024 83,455 0 0 0 0
<br /> TIF 14 Golden Pond 12/31/2014 56,831 56,831 53,756 56,687 58,367 60,118 0 0 0 0
<br /> TIF 15 Brighton Corporate Park 12/31/2014 356,029 337,867 296,147 282,213 290.679 299,400 0 0 0 0
<br /> TIE 16 2121-23 Highway 8 12/31/2015 34,208 32,342 27,022 23,540 24,248 24,974 25,723 0 0 0
<br /> 11F 17 County Road D/Interstate 12/31/2016 107,858 101,658 89,878 84,578 87,115 89,729 92,421 95,193 0 0
<br /> 71F 18 Remmelle,CBD West 12/31/2018 312,896 287,825 265,913 236,968 244,077 251,399 258,941 266,710 274,711 282,952
<br /> 11F 20 Laketiew Business Park North 12/31/2020 347,164 328,219 294,389 267.170 275.185 283,441 291,944 300,702 309,723 319,015
<br /> lip 23 Thomdale Plaza 12/31/2021 10,698 10,698 10,136 10.670 10,990 11,320 11,659 12,009 12,369 12,741
<br /> TIF 25 Laketiew South 12/31/2021 283,819 273,173 245,605 233.036 240,027 247,228 254,645 262,284 270,153 278,257
<br /> TIF 26 Brighton Corporate Business Park III 12/31/2024 743,011 754,151 715,392 667.431 687,454 708,078 729,320 751,199 773,735 796,948
<br /> 11F 27 Ken's Market(Cleveland&County Road D) 12/31/2026 31,808 30,028 26,646 22,200 22,866 23,552 24,259 24,986 25,736 26,508
<br /> 11F 28 Rice Creek Center 12/31/2024 259,403 246,428 208,617 199,271 205,249 211,407 217,749 224,281 231,010 237,940
<br /> 11F 29 BCPII South(Soo Line) 12/31/2027 39,294 37,746 34,804 33.480 34,484 35,519 36,584 37,682 38,812 39,977
<br /> 71F 30 Brighton Village-Beisswenger 12/31/2031 139,929 237,444 209,426 209,426 215,709 222,180 228,845 235,711 242,782 250,066
<br /> TIF 31 Northwest Quadrant(West Side) 12/31/2035 63,840 132,486 106,954 123,945 127,663 131,493 135,438 139,501 143,686 147,997
<br /> 11F 32 Northwest Quadrant(East Side) 12/31/2036 105,596 259,250 201,530 201,530 207.576' 363,803 374,717 385,959 397,538 409,464
<br /> TIF 33 Maids Transmission 12/31/2033 22,950 22,950 20,368 20.368 20,979 21,608 22,257 22,924 23,612 24,320
<br /> Total Captured 3,929,471 4,103,937 3,850,841 3,409,025r 3,033,240 3,068,702 2,704,502 2,759,143 2,743,868 2,826,184
<br /> Total Tax Capacity(Gross) 24,876,272 23,983,506 22,731,911 20,940,354 21,568,565 22,215,622 22,882,090 23,568,553 24,275,609 25,003,878
<br /> Percentage of Tax Base in TIF 15 8% 17,1% 16.9% 16,3% 14.1% 13 8% 11.8% 11.7% 11.3% 11.3%
<br /> Assures 3%annual increase in tax base and TIF
<br /> FINAL
<br /> Captured T1F ass%of Tax Base City Tax Rate Bond Rating
<br /> Mounds View(Ramsey Co) 25.8% 50.422% A2 I 'Decertified TIF Districts
<br /> Anoka(Anoka Co) 18,4% 54,010% Aa2
<br /> New Brighton(Ramsey Co) 14.9% 41.968% AA I IDistricts Decertifying in
<br /> St.Anthony(Hennepin Co) 13.1% 73.291% AA Next 3 Years
<br /> Brooklyn Center(Hennepin Co) 12.4% 72.202% Aa2
<br /> Richteld(Hennepin Co) 10.2% 65.667% AA+
<br /> The City is about average today versus similar cities in the use of TIF. Also shown are comparable cities' tax rates and bond ratings.
<br /> Although this is a small sample of municipalities, the amount of TIF used by a City does not seem to correlate directly with a City's
<br /> tax rate or bond rating. In conversations with rating agencies, we do know that market value growth is an important factor in
<br /> maintaining New Brighton's AA bond rating. Redevelopment plays an important factor in market value growth. Following is a table
<br /> which demonstrates the historical market value growth of the City of New Brighton.
<br /> Management Review&Analysis-Tax Increment Financing Districts October 2013
<br /> New Brighton, Minnesota Page 11
<br />
|