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3. Fundamentals of Tax Increment Financing (TIF) 4. City of New Brighton TIF District Summary 13 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 DecertificationActualActualActualDate2019 2020 2021 2022 2023 2024 2025 2026TIF 17 County Road D / Interstate 12/31/2016 -$ -$ -$ -$ -$ -$ -$ -$ TOF 18 Remmelle, CBD West 12/31/2018 -$ -$ -$ -$ -$ -$ -$ -$ TIF 20 Lakeview Business Park North 12/31/2020 339,978$ -$ -$ -$ -$ -$ -$ -$ TIF 23 Thorndale Plaza 12/31/2019 18,517$ -$ -$ -$ -$ -$ -$ -$ TIF 25 Lakeview South 12/31/2018 -$ -$ -$ -$ -$ -$ -$ -$ TIF 26 Brighton Corporate Business Park III 12/31/2024 807,366$ 839,703$ 855,122$ 855,122$ 855,122$ 855,122$ 855,122$ 855,122$ TIF 27 Ken's Market (Cleveland & County Road D) 12/31/2023 27,700$ 30,850$ 35,008$ 35,008$ 35,008$ 35,008$ 35,008$ 35,008$ TIF 28 Rice Creek Center 12/31/2016 -$ -$ -$ -$ -$ -$ -$ -$ TIF 29 BCPII South (Soo Line) 12/31/2021 34,222$ 34,932$ 38,062$ 38,062$ 38,062$ 38,062$ 38,062$ 38,062$ TIF 30 Brighton Village - Beisswenger's 12/31/2019 315,232$ -$ -$ -$ -$ -$ -$ -$ TIF 31 Northwest Quadrant (West Side) 12/31/2035 1,071,087$ 1,090,591$ 1,171,990$ 1,171,990$ 1,171,990$ 1,171,990$ 1,171,990$ 1,171,990$ TIF 32 Northwest Quadrant (East Side) 12/31/2036 651,886$ 697,876$ 762,704$ 762,704$ 762,704$ 762,704$ 762,704$ 762,704$ TIF 33 Marv's Transmission 12/31/2033 16,790$ 18,373$ 21,284$ 21,284$ 21,284$ 21,284$ 21,284$ 21,284$ TIF 34 Midtown Village 12/31/2047 -$ -$ -$ -$ -$ -$ -$ -$ Total Captured3,282,778$ 2,712,325$ 2,884,170$ 2,884,170$ 2,884,170$ 2,884,170$ 2,884,170$ 2,884,170$ Total Tax Capacity 28,334,429 30,099,680 32,566,901 32,566,901 32,566,901 32,566,901 32,566,901 32,566,901 Percentage of Tax Base in TIF 11.59% 9.01% 8.86% 8.86% 8.86% 8.86% 8.86% 8.86%Projected
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