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CHAPTER 13 - ECONOMIC DEVELOPMENT AND SPECIAL PROGRAMS 3. Identification of Value, Classification, Tax Capacity and Minimum Assessment Agreements: The market value, tax capacity and local tax rate that are considered as the base values for the district are dependent upon the date the County Auditor receives the request for certification of the final TIF district. If a request for certification is received on or before June 30, the current payable year's estimated market value and local tax rate are to be considered as the base values and rate. If the request for certification is received by the County Auditor after June 30, the current assessment year's estimated market value and the subsequent year's local tax rate are considered to be the base value and rate of the district. The County Auditor should review the values and rates used in the assumptions and should snake sure the TIF Authority has used the correct values when trying to determine anticipated TIF revenues. 4. District Type & Duration (see Table 13.01-2 below) a) Determination of Type of District — verify that the projects intended plans and the acceptable district types are agreeable b) Duration — The County should verify that the duration dates and planned decertification dates are within the statutory guidelines. TIF Authorities can indicate a decertification date/year that is less than the maximum amount of years to run. In some instances, TIF plans assume a possible decertification date that is earlier than the maximum but do not indicate that the district will definitely decertify upon that date. 5. Examination of Permits The TIF plan must certify that no building permits had been issued on any of the affected parcels for 18 months prior to the request for certification of the district. If permits have been issued on any of the affected parcels, the improvement is not to be included within the retained portion of the TIF District. 6. Examination of any Assessment Agreements In some of the TIF plans, a certification of a minimum market value or assessment agreement is indicated. There are cases where the minimum assessment agreement is referred to in a development plan, which is generally recorded with the County Recorder. In any case, the County Auditor should check with the County Assessor as to whether that office has seen the plans for the improvements and if they had certified a minimum assessed value based upon the plan. If nothing has been provided to the Assessor, the County Auditor should contact the TIF Authority and question the validity of the agreement. 7. Financial Analysis The County Auditor should review the assumptions and financial analysis sections of the TIF plan. Some of the areas that the County should review are as follows: a) Projected tax increment dollars b) Sharing of increment c) Fiscal Disparity Election d) Bonded Debt e) Percentage of NTC already in TIF in Municipality & County in comparison to total TAX INCREMENT FINANCING 13,01 - g REVISION DATE; NOVEMBER, 2010