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Management Review & Analysis – Tax Increment Financing Districts City of New Brighton Page 3 April 2018 Table of Contents Executive Summary ........................................................................................................................................................ 5 Management Review & Analysis-Tax Increment Financing Districts ........................................................................... 5 TIF Summary .................................................................................................................................................................. 6 Summary of Outstanding Non-Pooled Obligations (as of 12/31/17) .............................................................................. 7 Summary of Outstanding Pooled Obligations (as of 12/31/17) ...................................................................................... 7 Summary of Bond Proceeds as Expended by District (as of 12/31/2017) ...................................................................... 8 TIF as a Development Tool ............................................................................................................................................ 9 Impact of Decertified TIF Districts ............................................................................................................................... 12 Assumptions .................................................................................................................................................................. 13 Recommendations ......................................................................................................................................................... 14 Budget Modifications................................................................................................................................................ 14 Early Decertifications ............................................................................................................................................... 14 Tax Increment Financing Districts ......................................................................................... 15 TIF #17 – County Road D / Interstate – DECERTIFIED AS OF 12/31/2016 ......................................................... 15 TIF #18 – Remmele, CBD West ............................................................................................................................... 21 TIF #20 - Lakeview Business Park North................................................................................................................. 29 TIF #23 – Thorndale Plaza ....................................................................................................................................... 37 TIF #25 – Lakeview South ....................................................................................................................................... 43 TIF #26 – Brighton Corporate Park III ..................................................................................................................... 51 TIF #27 – Ken’s Market ........................................................................................................................................... 59 TIF #28 – Rice Creek Center – DECERTIFIED AS OF 12/31/2016 ....................................................................... 67 TIF #29 – BCPII South (Soo Line) ........................................................................................................................... 75 TIF #30 – Brighton Village – Beisswenger’s ........................................................................................................... 83 TIF #31 – Northwest Quadrant a.k.a. “New Brighton Exchange” (West Side) ....................................................... 91 TIF #32 – New Brighton Exchange (East Side) ....................................................................................................... 99 TIF #33 – Marv’s Transmission Site Office Condo Development ......................................................................... 107 Debt Service Schedules ...................................................................................................... 113 In-District vs. Pooled Debt Obligations ................................................................................ 123