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4. City of New Brighton TIF District Summary <br /> V <br /> TIF as a Development Tool <br /> The City of New Brighton has utilized TIF for key economic development, redevelopment and housing projects in the City. Utilizing <br /> this tool to accomplish the various goals of the City has strengthened the overall diversity of housing options, land uses and tax <br /> base, while increasing employment opportunities and cleaning up contaminated sites. One immediate benchmark of the benefit in <br /> utilizing TIF is the overall increase in market value from when the district was created to when it is fully developed and aging. As <br /> illustrated in the following table, the City's overall market value has increased in the various TIF districts that are still active for taxes <br /> payable 2020 and do not include those decertified as of December 31, 2019 or earlier by over 1475% on a cumulative basis: <br /> Inflated —141F <br /> Original Market <br /> V <br /> TIF 26 Brighton Corporate Business Park III 1999 $ 4,153,000 $ 6,206,840 $ 52,479,107 746% <br /> TIF 27 Ken's Market 1999 $ 190,000 $ 283,963 $ 1,732,500 510% <br /> TIF 29 BCPII South (Soo Line) 2000 $ 195,000 $ 281,958 $ 1,941,600 589% <br /> TIF 31 Northwest Quadrant (West Side) 2006 $ 2,404,000 $ 2,969,119 $ 92,406,872 3012% <br /> TIF 32 (Northwest Quadrant (East Side) 2007 $ 1,509,800 $ 1,813,075 $ 35,006,200 1831% <br /> TIF 33 MarVs Transmission Site Office Condo Devel. 2007 $ 141,700 $ 170,163 $ 1,062,700 525% <br /> $ 8,593,500 $ 11,725,118 $ 184,628,979 1475% <br /> 13 <br />