03-14-2013 Planning Agenda - Laserfiche WebLink

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IMPACT ON TAX BASE Ramsey County City of Little Canada Roseville Area 1SD No. 623 2008 /Pay 2009 Total Net Tax Capacity 483,883,904 10,041,005 62,361,314 Estimated Captured Tax Capacity (CTC) Upon Completion 27,120 27,120 27,120 Percent of CTC to Entity Total 0.0056% 0.2701% 0.0435% IMPACT ON TAX RATES Ramsey County City of Little Canada Roseville Area ISD No. 623 Other Total Pay 2009 Extension Rates 0.465460 0.212780 0.106240 0.081480 0.865960 Percent of Total CTC 53.75% 27,120 24.57% 12.27% 9.41% 100.00% 27,120 27,120 27.120 Potential Taxes 12,623 5,771 2,881 2 210 23,485 The estimates listed above display the captured tax capacity when all construction is completed. The tax rate used for calculations is the actual Pay 2009 rate. The total net capacity for the entities listed above are based on actual Pay 2009 figures. The District will be certified under the actual Pay 2010 rates, which were unavailable at the time this TIF Plan was prepared. Pursuant to M.S. Section 469.175 Subd. 2(b): (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 $600,000; (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. However, a property that had some serious police calls and an inordinate amount of activity will be cleared and replaced with single family homes that should generate very little activity in terms of calls for service. 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 including property -type calls and crimes. With any addition of new residents or businesses, police calls for service will be increased. However, a problem property will be cleared and replaced with nine quality homes that are in character with the surrounding properties. New developments add an increase in traffic, and additional overall demands to the call load. The City does not expect that the proposed development, in and of itself, will necessitate new capital investment in vehicles or require that the City expand its contract with Ramsey County. The probable impact of the District on fire protection is not expected to be significant. The department is well equipped and staffed. They are more than able to accommodate this additional development. Typically new buildings generate few calls, if any, and are of superior construction. Additional fire hydrants will be introduced to the area, therefore improving fire protection capabilities for the entire neighborhood. The existing buildings, which will be eliminated by the new City of Little Canada Fax Increment Financing Plan for Tax Increment Financing District No. 6 -1 2 -13