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15 4. City of New Brighton TIF District Summary Many cities utilize TIF as a development tool as they realize the benefits it can provide. However, there sometimes may be concern if the tool may be over or underutilized. Measuring a city’s use of TIF as compared to existing tax base is one way of understanding how it is being used. A common measurement of TIF usage is the percentage of gross tax base captured in TIF districts. The chart below demonstrates the City’s current and projected tax base that is captured on an annual basis in the TIF districts. Projected Captured TIF Tax Capacity Decertification Date 2016 Actual 2017 2018 Actual 2019 2020 2021 Projected 2022 2023 2024 2025 TIF 17 County Road D / Interstate 12/31/2016 $ 84,578 $ - $ - $ - $ - $ - $ - $ - $ - $ - TIF 18 Remmelle, CBD West 12/31/2018 $ 240,590 $ 259,874 $ 267,670 $ - $ - $ - $ - $ - $ - $ - TIF 20 Lakeview Business Park North 12/31/2020 $ 260,681 $ 277,016 $ 285,326 $ 339,978 $ - $ - $ - $ - $ - $ - TIF 23 Thorndale Plaza 12/31/2019 $ 12,156 $ 14,335 $ 14,765 $ 18,517 $ - $ - $ - $ - $ - $ - TIF 25 Lakeview South 12/31/2018 $ 211,554 $ 223,392 $ 230,094 $ - $ - $ - $ - $ - $ - $ - TIF 26 Brighton Corporate Business Park III 12/31/2024 $ 681,902 $ 710,666 $ 731,986 $ 807,366 $ 839,703 $ 839,703 $ 839,703 $ 839,703 $ 839,703 $ 839,703 TIF 27 Ken's Market (Cleveland & County Road D) 12/31/2023 $ 20,900 $ 22,136 $ 22,800 $ 27,700 $ 30,850 $ 30,850 $ 30,850 $ 30,850 $ 30,850 $ 30,850 TIF 28 Rice Creek Center 12/31/2016 $ 210,529 $ - $ - $ - $ - $ - $ - $ - $ - $ - TIF 29 BCPII South (Soo Line) 12/31/2021 $ 29,172 $ 30,042 $ 30,943 $ 34,222 $ 34,932 $ 34,932 $ 34,932 $ 34,932 $ 34,932 $ 34,932 TIF 30 Brighton Village – Beisswenger’s 12/31/2019 $ 186,121 $ 225,618 $ 232,387 $ 315,232 $ - $ - $ - $ - $ - $ - TIF 31 Northwest Quadrant (West Side) 12/31/2035 $ 385,892 $ 654,748 $ 793,468 $ 1,071,087 $ 1,090,591 $ 1,090,591 $ 1,090,591 $ 1,090,591 $ 1,090,591 $ 1,090,591 TIF 32 Northwest Quadrant (East Side) 12/31/2036 $ 406,110 $ 479,314 $ 479,314 $ 651,886 $ 697,876 $ 697,876 $ 697,876 $ 697,876 $ 697,876 $ 697,876 TIF 33 Marv's Transmission 12/31/2033 $ 12,376 $ 12,568 $ 12,945 $ 16,790 $ 18,378 $ 18,378 $ 18,378 $ 18,378 $ 18,378 $ 18,378 Total Captured $ 2,742,561 $ 2,909,709 $ 3,101,698 $ 3,282,778 $ 2,712,330 $ 2,712,330 $ 2,712,330 $ 2,712,330 $ 2,712,330 $ 2,712,330 Total Tax Capacity $ 21,909,803 $ 23,618,059 $ 26,040,539 $ 28,334,429 $ 30,236,382 $ 30,236,382 $ 30,236,382 $ 30,236,382 $ 30,236,382 $ 30,236,382 Percentage of Tax Base in TIF 12.52% 12.32% 11.91% 11.59% 8.97% 8.97% 8.97% 8.97% 8.97% 8.97%
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