2019.04.03 EDC Packet - Laserfiche WebLink

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IMPACT ON TAX BASE 2018/Pay 2019 Total Net Tax Capacity Estimated Captured Tax Capacity (CTC) Upon Completion Percent of CTC to Entity Total Ramsey County 528,905,652 1,000,616 0.1892% City of New Brighton 22,016,367 1,000,616 4.5449% Mounds View Public ISD 621 99,584,975 1,000,616 1.0048% IMPACT ON TAX RATES Pay 2019 Extension Rates Percent of Total CTC Potential Taxes Ramsey County 0.528790 42.46% 1,000,616 529,116 City of New Brighton 0.370630 29.76% 1,000,616 370,858 Mounds View Public ISD 621 0.263300 21.14% 1,000,616 263,462 Other 0.082650 6.64%1,000,616 82,701 Total 1.245380 100.00%1,246,137 The estimates listed above display the captured tax capacity when all construction is completed. The tax rate used for calculations is the Pay 2019 rate. The total net capacity for the entities listed above are based on Pay 2019 figures. Pursuant to M.S. Section 469.175 Subd. 2(b): (1) Estimate of total tax increment. It is estimated that the total amount of tax increment that will be generated over the life of the District is $22,179,231; (2) Probable impact of the District on city provided services and ability to issue debt. The probable impact of the District on police protection is not expected to be significant; the development is anticipated to increase the number of call by approximately 2.5%. It is anticipated that with the removal of several abandoned buildings, the number of calls to the area related to burglaries, thefts, trespassing and arson will decline. The City does not expect that the proposed development, in and of itself, will necessitate new capital investment, and it is anticipated that the needs of the proposed development can be met with the existing planned budgetary allotments and personnel. The probable impact of the District on fire protection is not expected to be significant. Typically new buildings generate few calls, if any, and are of superior construction. The existing buildings, which will be eliminated by the new development, have public safety concerns that will be remedied with the redevelopment. The City does not expect that the proposed development, in and of itself, will necessitate new capital investment, and it is anticipated that the needs of the proposed development can be met with the existing planned budgetary allotments and personnel. The impact of the District on public infrastructure is expected to be minimal. Operating costs associated with the new development, including plowing, street maintenance, street sweeping and lighting, is expected to be minimal. Capital costs for water are being completed within the development, and regional improvements to the storm water will also be constructed by the City of New Brighton Tax Increment Financing Plan for TIF District No. 34: New Brighton Elementary 2-6