06-20-11 Council Agenda - Laserfiche WebLink

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IMPACT ON TAX BASE 2006 /Pay 2007 Total Net Tax Capacity Ramsey County 464,400,004 City of Little Canada 9,476,331 Roseville ISD No. 623 59,932,715 Estimated Captured Tax Capacity (CTC) Upon Completion 571,459 571,459 571,459 Percent of CTC to Entity Total 0.1231% 6.0304% 0.9535% IMPACT ON TAX RATES Ramsey County City of Little Canada Roseville Area ISD No. 623 Other Total Pay 2007 Extension Rates 0.449430 0.211670 0.123720 0.088610 0.873430 Percent of Total CTC 51.46% 571,459 24.23% 571,459 14.16% 571,459 10.15% 571 459 100.00% Potential Taxes 256,831 120,961 70,701 50,637 499,129 The estimates listed above display the captured tax capacity when all construction is completed. The tax rate used for calculations is the actual Pay 2007 rate. The total net capacity for the entities listed above are based on actual Pay 2007 figures. The District will be certified under the actual Pay 2008 rates, which were unavailable at the time this TIP Plan was prepared. Pursuant to M.S. Section 469.175 Subd. 2(19: (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 56,427,200; (AS MODIFIED , 2011) (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 56,443,200; (2) Probable impact of the District on city provided services and ability to issue debt. An impact of the District on police protection is expected. The City currently contracts with the Ramsey County Sheriff's Office for police services. The Ramsey County Sheriffs Office does track all calls for service by address, not property -type calls and crimes. With any addition of' new residents or businesses, police calls for service will be increased. However, high tech, medical device manufacturers in a campus setting such as this will typically place a lesser demand on police services than multi- family housing. New developments add an increase in traffic, and additional overall demands to the call load. Based upon similar facilities in the community, as many as 20 new calls will be generated by the development, however, most will he associated with false alarms. Improved traffic flow and safety will he achieved at Viking Drive by eliminating the connection to Rice Street and tying in to Minnesota Avenue. The City does not expect that the proposed development, in and City al' Little Came/ Tax I act nt Pinnncine Plan for Tan Increment Financing l)istric No. 5 -1 2 -11 17