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2018.12.18 PC
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2018.12.18 PC
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provide those services; <br />(7) Assistance for housing; <br />(8) Assistance for pollution control or abatement, including assistance for a tax increment financing <br />hazardous substance subdistrict as defined under M.S., Section 469.174, Subd. 23; <br />(9) Assistance for energy conservation; <br />(10) Tax reductions resulting from conformity with federal tax law; <br />(11) Workers' compensation and unemployment compensation; <br />(12) Benefits derived from regulation; <br />(13) Indirect benefits derived from assistance to educational institutions; <br />(14) Funds from bonds allocated under chapter 474A, bonds issued to refund outstanding bonds, and <br />bonds issued for the benefit of an organization described in section 501 (c) (3) of the Internal <br />Revenue Code of 1986, as amended through December 31, 1999; <br />(15) Assistance for a collaboration between a Minnesota higher education institution and a business; <br />(16) Assistance for a tax increment financing soils condition district as defined under M.S., Section <br />469.174, Subd. 19; <br />(17) Redevelopment when the recipient's investment in the purchase of the site and in site preparation <br />is 70 percent or more of the assessor's current year's estimated market value; <br />(18) General changes in tax increment financing law and other general tax law changes of a principally <br />technical nature; <br />(19) Federal assistance until the assistance has been repaid to, and reinvested by, the state or local <br />government agency; <br />(20) Funds from dock and wharf bonds issued by a seaway port authority; <br />(21) Business loans and loan guarantees of $150,000 or less; <br />(22) Federal loan funds provided through the United States Department of Commerce, Economic <br />Development Administration; and <br />(23) Property tax abatements granted under M.S., Section 469.1813 to property that is subject to <br />valuation under Minnesota Rules, chapter 8100. <br />The City will comply with M.S., Sections 116J.993 to 116J.995 to the extent the tax increment assistance <br />under this TIF Plan does not fall under any of the above exemptions. <br />Subsection 2-13. Estimated Impact on Other Taxing Jurisdictions <br />The estimated impact on other taxing jurisdictions assumed that the redevelopment contemplated by the TIF <br />Plan would occur without the creation of the District. However, the City determined that such development/ <br />redevelopment would not occur "but for" tax increment financing and that, therefore, the fiscal impact on <br />other taxing jurisdictions was $0. The current estimated fiscal impact of the District is as follows: <br />IMPACT ON TAX BASE <br /> Preliminary <br />2018/Pay 2019 <br />Total Net <br /> Tax Capacity <br />Estimated Captured <br />Tax Capacity (CTC) <br />Upon Completion <br />Percent of CTC <br />to Entity Total <br />Ramsey County 531,248,008 760,790 0.1432% <br />City of New Brighton 22,062,005 760,790 3.4484% <br />Moundsview Public ISD No. <br />621 <br />99,577,167 760,790 0.7640% <br />City of New Brighton <br />Modification to the Tax Increment Financing Plan for TIF District No. 26: Brighton Corporate Business Park III 2-7
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