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GENERAL OVERVIEW OF MOUNDS VIEW'S <br /> TAX INCREMENT DISTRICTS <br /> There are four tax increment districts located within the City of Mounds View. Most of the <br /> other cities in Ramsey County have created at least one TIF district. The numerical range for <br /> those cities is from a single TIF district (Lauderdale)to 22 TIF districts (White Bear Lake). <br /> Mounds View's neighbor to the south, New Brighton, has.20 TIF districts. [This information is <br /> for taxes payable in 1998, and was provided by Ehlers &Associates at its 2-I 0-99 TIF <br /> Seminar.] <br /> With the exception of TIF District #4 (Bel Rae Ballroom), all of Mounds View's TIF districts are <br /> redevelopment districtsthat were established prior to certain statutory changes that were <br /> implemented in 1990; Mounds View's TIF districts are therefore referred to as "pre-1990 <br /> districts" for purposes of determining the rules that apply to the administration of the districts. <br /> District I - Mounds View Business Park <br /> • Created in 1986, modified in 1989 and 1990 <br /> • 25 Year Redevelopment District <br /> • Last increment year- 2013 <br /> • Total jobs created = approx. 2,000 <br /> • Issued three bonds for Phase I & Phase II in the total amount of$8.42 <br /> million - of that amount, the Developer(s) received a total of <br /> approximately $4 million in eligible reimbursement(s) <br /> • The preceding TIF assistance resulted in new construction with a <br /> guaranteed tax value of$27 million as of 1993 <br /> • At that time (1993)the aforementioned market value of$27 million <br /> generated annual real estate taxes of$1 ,689,380 -- <br /> representing 64% of the City's commercial and industrial tax <br /> base, and 24% of the City's total tax base. <br /> • The EDA approved pay-as-you-go TIF agreements in 1994 for the <br /> expansion of Multi-Tech Systems [a/k/a Commercial Property - <br /> Investments, Inc.] and development of C.G. Hill [a/k/a Michael <br /> Investments] -- which added 92,000 s.f. of new construction with an <br /> estimated tax base of$3 million. <br /> • Multi-Tech received project assistance of approximately $601 , 482 <br /> (present value) and C.G. Hill received project assistance of approximately <br />