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090214 PlanningPLANNING COMMISSI*N ITIEFUNG City Hall, 4401 Xylon Avenue North Tuesday, September 2, 2014 700 p.m. 3.1 © 14-10, Review of City Center Tax Increment Financing District Plan, 4300 «§t: 2»«»» North, City of New Hope, petitioner 11 ililillill I ii}llillililill The Planning Commission is an advisory body, created to advise the City Council on land use. The Planning Commission will recommend Council approval or denial of a land use proposal based if the Planning Commission's determination of whether the proposed use is permitted underthe Zoning Code and the Comprehensive Plan, and whether the proposed use will, or will not, adversely affect the surrounding neighborhood. The Planning Commission holds informal public hearings on land use proposals to enable you to learn, first-hand, what such proposals are, and to permit you to ask questions and offer comments. Your questions and comments become part of the record and will be used by theCouncil, along with the Planning Commission's recommendation, in reaching its decision. To aid in your understanding and to facilitate your comments and questions, the Planning Commission will utilize the following procedure: 1. The Planning Commission Chair will introduce the proposal. 2. City staff will outline the proposal and staff's recommendations and answer any questions from the Planning Commission. 3. The petitioner is invited to describe the proposal, make comments on the staff report, and answer questions from the Planning Commission. 4. The chair will open the public hearing, asking first for those who wish to speak to so indicate by raising their hands. The chair may set a time limit for individual questions/comments if a large number of persons have indicated a desire to speak. Spokespersons for groups will have a longer period of time for questions/comments. 5. When recognized by the chair, the person wishing to speak is asked to come forward and to give their full name and address clearly. Remember, your questions/comrnents are for the record. 6. Direct your questions/comments to the chair. The chair will determine who will answer your questions. 7. No one will be given the opportunity to speak a second time until everyone has had the opportunity to speak initially. Please limit your second presentation to new inforination, not rebuttal. 8. At the close of the public hearing, the Planning Commission will discuss the proposal and take appropriate action. A. If the Planning Commission recommends that the City Council approve or deny a request, planning case will be placed on the City Council agenda for the riext regular meeting. Usually this meeting is within one to two weeks of the Planning Commission meeting. MM- Ft P City of New Hope Meeting Date: September2,2014 Report Date: August 26, 2014 EXI Petitioner: City of New Hope Address: 4300 Xylon Avenue or Project Name: Kmart Tax Increment ane® District Project Description: Establishment of the City Center Tax Increment Financing District Planning Request: Review plans for the City Center Tax Increment Financing District At the special July 14 work session meeting, staff and representatives from the city's redevelopme consultants, Ehlers & Associates, Inc., identified the need to conduct a public hearing in support of t M city's redevelopment efforts at the former Kmart shopping center area. This action and I establishment of a tax increment financing (TIF) plan and district will, if approved, help reimburse Economic Development Authority (EDA) for expenses related to the redevelopment of this area arts prepare the city and EDA for future redevelopment efforts. The public hearing to consider this matt will be held on September 8, 2014. MEE= Minnesota State Statutes require that the Plarming Commission review and make written comments on the TIF plans prior to the City Council establishing the TIF district. Attached, please find the draft resolution and the TIF plans for the creation of the City Center TIF District. Ill. Notification Legal notice for the public hearing was published in the SunPost newspaper. Staff recom-mends that the Planning Commission review the attached City Center Tax Increment Financing Plan and approve the Resolution finding that the City Center TIF plan conforms to the general plans for the development and redevelopment of the �city, F,'.ttachments: • Resolution • Kmart TIF Plan Planning Case Report 14-10 Page 1 9/2/14 ■ ,1 1 . i f, r f , . r,= � ► 11 ., I U04311UMM 1 WHEREAS, the New Hope Development Hope (the "City") have proposed to adopt a Modification to the Redevelopment Plan for Redevelopment Project No. I (the "Redevelopment Plan Modification") and a Tax Increment Financing Plan for the City Center Redevelopment Tax have submitted 1 the City Planning Commissionpursuant to Minnesota Statutes, Section 469.175, Subd. 3, and WHEREAS, the Commission has reviewed the Plans to determine their conformity with the general THEREFORE, BE IT RESOLVED by the Commission that the Plans conformto the general plans for the developmentd redevelopment of ,}oT Chair, Steve Svendsen �, • I �� iVlumlum', P .4s of,4ugust 15, 2014 . raft fez ^ Planning Commission Modification r Redevelopment and the Tax Increment i r r the establishment of the City i District redevelopment district) within Redevelopment Project No. Ii New Mope Economic Development Authority City of New Hope �I Hennepin County State of Minnesota Public Hearing: September 8, 2014 Adopted: I! I� iI Prepared y: EHL RS & ASSOCIATES, INC. EHLERS 3060 Centre Pointe Drive, Roseville, Minnesota 55113-1105 651-697-6500 fax: 651-697-6555 .e lers-inn. r Table of Contents Section I - Modification to the Redevelopment Plan for Redevelopment Project Foreword 1-1 ;z11111 p�111 1111111 10�11,11111111 Tax Increment Financing District Subsection 2-1. Foreword ............ .................... 2-1 Subsection 2-2. Statutory Authority . ............ 2-1 Subsection 2-3. Statement of Objectives ........... 2-1 Subsection 2-5. Description of Property in the District and Property To Be Acquired . 2-2 Subsection o; and First Year of Tax Increment of the District .... — ..... 2-4 Subsection 2-8. Original Tax Capacity, Tax Rate and Estimated Captured Net Tax Capacity Value/Increment and Notification of Prior Planned Improvements . . . ............ 2-4 Subsection 2-9. Sources of Revenue/Bonds to be Issued .............. 2-5 2-6 Subsection 2-11 � Fiscal Disparities Election ........ ................. 2-6 Subsection 2-14. Estimated Impact on Other Taxing Jurisdictions .. .............. 2-8 Subsection 2-15. Supporting Documentation ......... 2-10 Subsection 2-16. Definition of Tax Increment Revenues 2-10 Subsection 2-18, Administrative Expenses ......... ...... — 2-11 Subsection 2-19. Limitation of Increment ........ ......... 2-12 Subsection 2-20. Use of Tax Subsection Subsection 2-22. Requirements for Agreements with the Developer .......... .... 2-14 Subsection 2-23. Assessment Agreements ......... ...... 2-14 Subsection 2-24. Administration of the District ...... 2-14 Subsection 2-25. Annual Disclosure Requirements ...... 2-14 Subsection 2-26. Reasonable Expectations ......... 2-14 Subsection 2-27. Other Limitations on the Use of Tax Increment . ... 2-15 Appendix A Project Description ............. ...... A-1 Appendix B Map(s) of Redevelopment Project No. 1 and the District. B-1 Appendix C Description of Property to be Included in the District ...... C-1 Appendix D Estimated Cash Flow for the District ......... .... .......... .. D-1 Appendix E Minnesota Business Assistance Form ........... ............ ..... E-1 Appendix F Redevelopment Qualifications for the District ......... .................. F®1 Appendix G Findings Including But/For Qualifications ........ ..................... . ®1 for Redevelopment Project No. I This modification represents a continuation of the goals and objectives set forth in the Redevelopm nt Plan for Redevelopment Project No. 1. Generally, the substantive changes include the establishment of the City Center Redevelopment Tax Increment Financing District. For further infortnation, a review of the Redevelopment Plan for Redevelopment Project No. I recommended. It is available from the City Manager at the City of New Hope. Other relevant inforrmati is contained in Redevelopment Project No. 1. New Hope Economic Development Authority Modification to the Redevelopment Plan for Redevelopment Project No. 1 Section 2 - Tax Increment Financing Plan 'm 47-Ar.61 wailzing T X e 1 o consultants have prepared the following information to expedite the establishment of the City Center district, located in Redevelopment Project No. 1, Within the City, there exist areas where public involvement is necessary to cause development or redevelopment to occur. To this end, the EDA and City have certain statutory powers pursuant to Minnesota Statutes ("M.SSections 469.090 to 469 .1082, inclusive, as amended,Sections 469.174 to 469.1799, inclusive, as amended (the "Tax Increment Financing Act" or "TIF Act"), to assist in financing public costs related to this project. 1! 7 * 7111111, The District currently consists of four parcels of land and adjacent and internal rigbts-of-way. The Distrii he Plea rso n t . C1 IY s17 a grocery store, convenience store/gas station, apartments, retail, office and restaurants in the City. Plea see Appendix A for further District infonnation. The EDA will be entering into an agreement with Anderso KM Builders LLC. and HyVee Inc. and development will likely occur in late 2014 on Phase 1. This TIF PI 09PTWI - I , "I'll, . ... "I I" )) 177171111VIII, the undertaking of other qualified development or redevelopment activities. These activities are anticipated to occur over the life of Redevelopment Project No. I and the District. 11111 IIJI� L Property to be Acquired -The EDA or City currently owns three parcels of property within the District. The remaining property located within the District may be acquired by the EDA A r City and is firtber described in this TIF #,lan. 2. Relocation - Relocation services, to the extent required by law, are available pursuant Chapter 117 and other relevant state and federal laws. I 3. Upon approval of a developer's plan relating to the project and completion of the necessary legal requirements, the EDA or City may sell to a developer selected properties that it may acquire within the District or may lease land or facilities to a developer. 4. The EDA or City may perform or provide for some or all necessary acquisition, construction, relocation, demolition, and required utilities and public street work within the District. New Hope Economic Development Authority Tax Increment Financing Plan for the City Center Redevelopment Tax Increment Financing District 2-1 Subsection 2-5. Description of Property in the District and Property To Be Acquired WM# 1AN* A parcels listed in Appendix C of this TIF Plan. Please also see the map in Appendix B for further informati(M in the location of the District. The EDA or i7.rcel witVit, L Kul JLypi i c 10 1, R111 IN A'= 1" 1 MW LU11C struet utilities and facilities; carry out land acquisition, site improvements, clearance and/or development to accomplish the uses and objectives set forth in this plan. The EDA or City may acquire property by gift, dedication, condemnation or direct purchase from willing sellers in order to achieve the objectives ofthis TIF Plan, Such acquisitions will be undertaken only when there is assurance of fimding to finance the acquisition and related costs. -illitw -W%ar- YO A -V A remance wi V M.S., Sections 469.174 to 469,1799, as amended, inclusive, find that the District, to be established, is redevelopment district pursuant to M.S., Section 469.174, Subd 10(a)(1) as defined below: (a) "Redevelopment district" means a type qftax incrementflinancing district consisting ofaproject, or portions of a project, within which the authorityfinds by resolution that one or more of tile following conditions, reasonably distributed throughout the district, exists: utilities, paved or gravelparking lots or other similar structures and more than 50percent of the buildings, not including outbuildings, are structurally substandard to a degree requiring substantial renovation or clearance, - (2) The property consists of vacant, unused, underused, inappropriately used, or infrequently used railyards, rail storagefacilities or excessive or vacated railroad rights-of-way; (3) tankfacilifies, orproperty whose immediatelyprevious use wasfor tankfacilities, as defined in Section 115C, Subd 15, if the tankfacility: (i) have or had a capacity ofmore than one million gallons; (U) are located adjacent to rail facilities; or (iii) have been removed, or are unused, underused, inappropriately used or infrequently used; or (b) For purposes of this subdivision, "structurally substandard" shall mean containing defects in structural elements or a combination ofdeficiencies in essential utilities an facilities, light and ventilation, fireprotection including adequate egress, layout andcondition ofinteriorparlitions, or similar factors, which defects or deficiencies are of sufficient total S�Igniflcance to justify substantial renovation or clearance. New Hope Economic Development Authority Tax Increment Financing Plan for the City Center Redevelopment Tax Increment Financing District 2-2 A building is not structurally substandard ifit is in compliance with the building code applicable to new buildings or could be modified to satisfy the building code at a cost of less than 15 percent of the cost ofconstructing a new structure of the same squarefootage and type on the site. The municipality mayfind that a building is not disqualified as structurally substandard under the preceding sentence on the basis ofreasonably available evidence, such as the size, type, and age of the building, the average cost ofplumbing, electrical, or structural repairs or I ther similar reliable evidence. The municipality may not make such a determination without an interior inspection of the property, but need not have an independent, expert appraisal prepared of the cost ofrepair and rehabilitation of the building. An interior inspection of the property is not required, ifthe municipalilyfinds that (1) the municipality or authority is unable to ga in access to th'I /f' after using its best efforts to obta in permissionfrom th e party tha t owns or controls theproperty; and (2) the evidence otherwise supports a reasonable conclusion that the building is structurally substandard. 7arrPI i -V 11,00MOd M 110 wor*ITOA-4 finding under paragraph (a) or by the improvement described in paragraph (e) if all of following conditions are met: VY a su1sFa-W-377MOM—ng or met the requirements o1paragraph (e), as the case may be, within three years ofthefiling ofthe requestfor certification ofthe parcel as part ofthe district with the county auditor; or removed by the authority or the demolition or removal wasfinanced by the authority or was done by a developer under a development agreement with the authority; (3) the authority found by resolution before the demolition or removal that the parcel was occupied by a structurallysubstandardbuilding or met the requirement ofparagraph (e) and that after demolition and clearance the authority intended to include the parcel within a district; and (4) uponfiling the request.for certification ofthe tax capacity ofthe parcel as part ofa district, the authority notifies the county auditor that the original tax capacity ofthe parcel must be adjusted as provided by § 469.177, subdivision 1, paragraph6g. (e) For purposes of this subdivision, a parcel is not occupied by buildings, streets, utilities, paved or gravel parking lots or other similar structures unless 15 percent of- the area of the parcel contains buildings, streets, utilities, paved or gravelparking lots or other similar structures. ()9 For districts consisting of two or more nonconfiguous areas, each area must qualify as a redevelopment districi underparagraph (a) to he included in the district, and the entire area of the district must satisfy paragraph (a). * The District is a redevelopment district consisting of four parcels. * An inventory shows that parcels consisting of more than 70 percent of the area in the District are occupied by buildings, streets, utilities, paved or gravel parking lots or other sirnilar structures. * An inspection of the buildings located within the District finds that more than 50 percent of the buildings are structurally substandard as defined in the TIF Act. (See Appendix F). New Hope Economic Development Authority Tax Increment Financing Plan for the City Center Redevelopment Tax Increment Financing District 2-3 Pursuant to M.S., Section 469.176, Subd 7, the District does not contain any parcel or part of a parcel that qualified under the provisions of M.S., Sections 273.111 or 273.112 or Chapter 473H for taxes payable in any of the five calendar years before the filing of the request for certification of the District. Subsection 2-7. Duration and First Year of Tax Increment of the District Pursuant to M.S., Section 469.175, Subd. 1, and Section 469.176, Subd. 1, the duration and first year of tax increment of the District must be indicated within the TIF Plan, Pursuant to MS., Section 469.1 76J;4,1-1b� 1ff.:K0Wiji*PV 29iN2 26 years of tax increment). The EDA and City elect to receive the first tax increment in 2017, which is no later than four years following the year of approval of the District. Thus, it is estimated that the District, including any modifications of the TIF Plan for subsequent phases or other changes, would terminate after 2042 or when the TIF Plan is satisfied. The EDA or City reserves the right to decertify the District prior to the legally required date. Subsection2-8. Original Tax Capacity, Tax Rate and Estimated Captured Net Tax Capacity Value/increment and Notification of Prior Planned Improvements PursuanttoM.S., Section469.174, Subd. 7andM.S., Secfion469.177 Subd. ],the Original Net Tax Capacity (ONTC) as cerfified for the District will be based on the market values placed on the property by the assessor in 2014 for taxes payable 2015. Pursuant to M.S., Section 469, 177, Subds. I and 2, the County Auditor shall certify in each year (beginning in the payment year 2016) the amount by which the original value has increased or decreased as a result of: I . Change in tax exempt status of property; 2. Reduction or enlargement of the geographic boundaries of the district; 3. Change due to adjustments, negotiated or court-ordered abatements; 4. Change in the use of the property and classification; 5. Change in state law governing class rates; or 6. Change in previously issued building permits. 1111111111 111r, 1111111111111!!!, : iipli�qi 110oiM# aU, WN MoMM01 The original local tax rate for the District will be the local tax rate for taxes payable 2015, assuming the request for certification is made before June 30, 2015. The ONTC and the Original Local Tax Rate for the District appear in the table on the following page. New Hope Economic Development Authority Tax Increment Financing Plan for the City Center Redevelopment Tax Increment Financing Distdr—t 2-4 . . . . . .. .................... . . . . . . Project Estimated Tax Capacity upon CompletionC ,423,179 Original Estimated Net Tax Capacity (ONTC) $201,220 Fiscal Disparities Contribution $319,849 Estimated Captured Tax Capacity (CTQ $902,110 Original Local Tax Rate 1.53792 Pay 2014 Estimated A-nural Tax increment (CTC x Local Tax Rate) $1,387,373 Percent Retained by the EDA 100% Tax capacity includes a 1% inflation factor for the duration of the District. The tax cawcity included in this chart is the estimated tax capacity of the District in year 25. The tax capacity of the istnet in year one is estimated to be $1,109,750. auolpi. q, too n-iiii snati, 7a Icr a one ana aingent searen, accompany its request for certification to the County Auditor or its notice of the District enlargement pursuant to M.S,, Section 469.175, Subd. 4, with a listing of all properties within the District or area of enlargement for which Vitildhilli yemitq 3t TIF Plan by the municipality pursuant to M.S., Section 469.175, Subd. 3. The County Auditor shall increase the original net tax capacity of the District by the net tax capacity of improvements for which a building permit was issued. see Appendix H for the building permits that were issued. The costs outlined in the Uses of Funds will be financed primarily through the annual collection of tax increments. The EDA or City reserves the right to incur bonds or other indebtedness as a result of the TIF SOURCES OF FUNDS, TOTAL Tax Increment $31,240,446 Interest SM24.045 TOTAL $34,364,491 . . . . . . .................................. ........... ......................... New Hope Economic Development Authority Tax Increment Financing Plan for the City Center Redevelopment Tax Increment Financing District 2-5 Cmr-e-c1l% nafkr alff—Ayip 1� j&trj�'P� W, Non 1.110 111-IIJ MtWf I ivrl I m r I m I D FFI S 111 C1 costs a K oeqcn Ded 1 lie h -PA has s id eA th . towuhi lity ot the development or redevelopment ofproperty in and around the District. To facilitate the establishment and development or redevelopment of the District, this TIF Plan authorizes the use of tax increment financing to pay for the cost of certain eligible expenses. The estimate of public costs and uses of funds aqsociated with the District is outlined in the following table. USES OF TAX INCREMENT FUNDS TOTALI Land/Building Acquisition $11,890,000 Site Improvements/Preparation $3,000,000 Utilities $29000,000 Other Qualifying Improvements $2,199,336 Administrative Costs (up to 10%) IL124 045 PROJECT COST TOTAL $22,213,381 Interest 1 12., 15 1,110 PROJECT AND INTEREST COSTS TOTAL $34,364,491 projected tax increments for the District as shown in Subsection 2-9. I UM le the boundaries of Redevelopment Project No. 1, (including administrative costs, which are considered to be spent outside of the District) subject to the limitations as described in this TIF Plan. 0 -1 I �.1 .. 11 "1 777-070171=17 - rai disparities. If the calculations pursuant to M.S., Section 40.177, Subd. 3, clause b, (within the District) are followed, the following method of computation shall apply: (1) 21e original net tax capacity shall be determined before the application of thefiscal disparity provisions of Chapter 276A or 473F. The current net tax capacity shall exclude anyfiscal disparity commercial -industrial net tax capacity increase between the original year and the current year multiplied by the fiscal disparity ratio determined pursuant to M.S., Section New Hope Economic Development Authorfty Tax Increment Financing Plan for the City Center Redevelopment Tax Increment Financing District 2-6 and no tax inimm 64 W"M is the captured net tax capacity. This amount less anyportion thereq(which the authority has kesignated, in its tax incrementfinancing plan, to share with the local taxing districts is the retained captured net taxa// / the authority. Z/ e county auaiTor shaW/' the retained captured net /t/ oj-the authorityftom tax capacityof the local/ g districts in determining localaxing district taxrates. local / R determined ♦ " to be extended against / t / captured net lcapaci ofthe authority as well as the net taxcapacity ofthe localtaxing districts. Yhe taxgenerated / extensionthe of the less R local / district taxrates F i the original f /' taxra to the retained /M '/ net taxcapacity authority tax increment of the authori of f .1 . 1f of c disparities DA or City elected. fI ofcomputation oft/oftax increment applied / t districtpursuant to paragraph / /, t shall remain/ f duration of the district,./t that the governing body may elect to change its electionfromtJ of t / In in paragraph A to the method in paragraph f 4 I h. r I R t f • f f 1 1 �' ` Y. a business subsidy: (1) A business subsidy of less than $150,000; Assistance generallyavailable f all businesses or to a generalclass of similar business such as a line of business,1 f or . Public r f 1 buildings • . fi owned 1 thestateor .;l government th. _..v public purpose f do not principallybenefit a single business or defined group obusinesses the time the improvements are made; Redevelopment property polluted by contaminantsdefined in M.S., Section 11 6J. 552, Subd. Assistance provided i f purpose o.. renovating old or decaying building 1 or bringiit +' f to code and. "' provided i designated historic preservation districts,provided the assistance is .i equal 1 of the totalcost; i t Assistance to I f fl " f f readiness and trainingpurpose of the assistance isf` provide those (7) Assistance for housing; is Assistance forpollution ci f or abatement, ding assistance forr. hazardous substance subdistrict as defined under M.S., Section 469.174, Subd 23; f Assistance for energy conservation; (10) Tax reductions resulting from conformity with federal tax law; Workers' and unemployment compensation; New ♦Ae Economic Development A Tax Increment Financing Plan for`` -.', FA r District 21 (12) Benefits derived from regulation; (13) Indirect benefits derived from assistance to educational institutions; (14) Funds from bonds allocated under chapter 474A, bonds issued to refund outstanding bonds, an1 A 4 onds issued for the benefit of an organization described in section 501 (c) (3) of the Internal Revenue Code of 1986, as amended through December 31, 1999; (15) Assistance for a collaboration between a Minnesota higher education institution and a business; (16) Assistance for a tax increment financing soils condition district as defined under M.S., Section 469.174, Subd. 19; (17) Redevelopment when the recipient's investment in the purchase of the site and in site prepar-ation is 70 percent or more of the assessoes current year's estimated market value; (18) General changes in tax increment financing law and other general tax law changes of a principally technical nature; (19) Federal assistance until the assistance has been repaid to, and reinvested by, the state or local govermnent agency; (20) Funds from dock and wharf bonds issued by a seaway port authority; (21) Business loans and loan guarantees of $150,000 or less; (22) Federal loan funds provided through the United States Department of Commerce, Economic Development Administration; and (23 1 Property tax abatements granted under M.S., Section 469.1813 to property that is subject to valuation under Minnesota Rules, chapter 8 100. The EDA will comply with M.S., Sections 116J.993 to 116J.995 to the extent the tax increment assistance under this TIF Plan does not fall under any of the above exemptions. Subsection 2-13. County Road Costs Pursuant to M.S. See QWJ` L fJA will, in the iud ment of the cow, substanjiW '1 Wj _1j ji. _W i it =111=711VTOT�UCAM-rM -41MCI-1-1tall VFbLb WIT 11 UIQ FIF1UT1".#1rUV0111CnLS aft nor SC110MIUCTVVIU1111 UIV 11VA1 F11= - W years under a capital improvement plan or within five years under another county plan. If the five days of receipt of this TIF Plan. In the opinion of the EDA and City and consultants, the proposed development outlined in this TIF Plan will have little or no impact upon county roads, therefore the TIF Plan was not forwarded to the county 45 days prior to the public hearing. The EDA and City are aware that the county could claim that tax increment should be used for county roads, even after the public hearing. Subsection 2-14. Estimated Impact on Other Taxing Jurisdictions 'Me estimated impact on other taxingjurisdictions assumes that the redevelopment contemplated by the TIF Plan would occur without the creation of the District. However, the EDA or City has determined that such development or redevelopment would not occur "but for" tax increment finaricing and that, therefore, the fiscal impact on other taxing jurisdictions is $0. The estimated fiscal impact of the District would be as follows if the "but for" test was not met: New Hope Economic Development Authority Tax Increment Financing Plan for the City Center Redevelopment Tax Increment Financing Distrfc;t 2-8 . ... . . . . . ..... ...... ..... .. .. 2013/Pay 2014 Estimated Captured Percent Total Net Tax Capacity (CTC) Percent of CTC 2ULana-eft Kn2n92mWgffM to Entitv Total Hennepin County 1,233,679,768 902,110 0.0731% City of New Hope 13,134,589 902,110 6.8682% Robbinsdale Area Schools 68,486,919 902,110 1.3172% The estimates listed above display the captured tax capacity when all construction is completed. The tax rate used for calculations is the actual Pay 2014 rate. `fhe total net capacity for the entities listed above are based on actual Pay 2014 figures. The District will be certified under the actual Pay 2015 rates, which were unavailable at the time this TIF Plan was prepared. 111111111171111111 5 1 i � � � 11 IMM71M, M jjjgg�� (1) L-stimate 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 $31,240,446; (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 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. 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 staffing. buildings generate few calls, if any, and are of superior construction. T'he impact of the District on public infrastructure is expected to be minimal. The development is wwwr A- "A kw",? Awwwo ' UNC U91 L11CV11M1- %CCITCIV�Ilnelit klig 17T Pure). inecur-renT inirastructure Yorsanitary sewer, stonn sewer and water will be able to handle the additional volume generated from the proposed development and the developer will be required to pay for and install any necessary storm water treatment required as well as connections to the City's existing utility systems. Based on the New Hope Economic Development Authority Tax Increment Financing Plan for the City Center Redevelopment Tax Increment Financing District 2-9 Pay 2014 Percent Potential Extension Rates of Total CTC Taxes Hennepin County 0.498580 32.42% 902,110 449,774 City of New Hope 0.585960 38.10% 902,110 528,600 Robbinsdale Area Schools 0.347770 22.61% 902,110 313,727 Other 0.105610 6.87% 902.110 95.,272 of 1.537920 100.00% 1,387,373 The estimates listed above display the captured tax capacity when all construction is completed. The tax rate used for calculations is the actual Pay 2014 rate. `fhe total net capacity for the entities listed above are based on actual Pay 2014 figures. The District will be certified under the actual Pay 2015 rates, which were unavailable at the time this TIF Plan was prepared. 111111111171111111 5 1 i � � � 11 IMM71M, M jjjgg�� (1) L-stimate 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 $31,240,446; (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 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. 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 staffing. buildings generate few calls, if any, and are of superior construction. T'he impact of the District on public infrastructure is expected to be minimal. The development is wwwr A- "A kw",? Awwwo ' UNC U91 L11CV11M1- %CCITCIV�Ilnelit klig 17T Pure). inecur-renT inirastructure Yorsanitary sewer, stonn sewer and water will be able to handle the additional volume generated from the proposed development and the developer will be required to pay for and install any necessary storm water treatment required as well as connections to the City's existing utility systems. Based on the New Hope Economic Development Authority Tax Increment Financing Plan for the City Center Redevelopment Tax Increment Financing District 2-9 MIMI these portions. The probable impact of ang Dis cr era] obligation tax increment bonds on the abilit-y to issue debt for general fund purposes is expected to be minimal, Therefore there will be no impact on the City's ability to issue future debt or on the City's debt limit. (3) Bstimated amount of tax increment attributable to school district levies. It is estimated that the amount of tax increments over the life of the District that would be attributable to school district levies, assuming the school district's share of the total local tax rate for all taxing jurisdictions remained the same, is $7,063,464; (4) Estimated amount of tax increment attributable to county levies. It is estimated that the amount of tax increments over the life of the District that would be attributable to county levies, assuming the count3es share of the total local tax rate for all taxingjurisdons remained the same, is $10,128,152; (5) Additional information reouested by the county or school district. The City is not aware of any standard questions in a county or schooll district written policy regarding tax increment districts and impact on county or school district services. The county or school district must request additional information pursuant to M.S. Section 469.175 Subd. 2(b) within 15 days after receipt of the tax increment financing plan, No requests for additional information from the county or school district regarding the proposed development for the District have been received. 11111ati'lln Set M=FIA .3— "-rr&&C-urO jztefl a, Ur"F, 3, clause (b)(2) and the findings are required in the resolution approving the District. Following is a list of reports and studies on file at the City that support the EDA and City's findings: * New Hope City Center Vision, Dated June 13,2011 * LHB TIF Inspection Report dated January 9, 2013 Subsection 2.16. Definition of Tax Increment Revenues N I t-1 If 1618 10141110 MW I ROG 91 U-2161,115 1101s goollivoll IF1 a 2ATIgot I RIM111,26TIT� 1 Taxes paid by the captured net tax capacity, but excluding any excess taxes, as computed underM.S., Section 469.177; 2. The proceeds frorn the sale or lease ofproperty, tangible or intangible, to the extent the property was purchased by the Authority with tax increments; 3. Principal and interest received on loans or other advances made by the Authority with tax increments; 4. Interest or other investment earnings on or from tax increments; 5. Repayments or return of tax increments made to the Authority under agreements for districts for which the request for certification was made after August 1, 1993 and 6. The market value homestead credit paid to the Authority under M.S., Section 2 73-1384. New Hope Economic Development Authority Tax Increment Financing Plan for the City Center Redevelopment Tax Increment Financing District 2-10 . 0 1 , 0 0 - a In accordance with M.S., Section 469.175, Subd. 4, ans I . Reduction or enlargement of the geographic area of the District, if the reduction does not meet tb* requirements of M.S., Section 469.175, Subd 4(e); 2. Increase in amount of bonded indebtedness to be incurred; 3. A determination to capitalize interest on debt if that determination was not a part of the original TIF Plan; 4. Increase in the portion of the captured net tax capacity to be retained by the EDA or City; 5. Increase in the estimate of the cost ofthe District, including administrative expenses, that will be paid or financed with tax increment from the District; or 6. Designation of additional property to be acquired by the EDA or City, of the original TIF Plan, -11#Wf -P I au 17 SK cu RE f v in unty XYV07jVjj:S —0YU11CUL11111 MI 41C OFIgIll L L P ly Y eCO auditor. If a redevelopment district is enlarged, the reasons and supporting facts for the determination that the addition to the district meets the criteria of M.S., Section 469.174, Subd. 10, must be documented in writing and retained. The requirements of this paragraph do not apply if (1) the only modification is CAUCULS LDC 11CI L" uarauity 3Y inose parcef(s) in me-4pistricus original net tax 710"Ilm-7,17STITUt Vj�lilis 911 il 11119 eliniiTtQ i1i''I'Wim I i s) 11 capacity or (B) the EDA agrees that, notwithstanding MS., Section 469.177, Subd. 1, the original net tax capacity will be reduced by no more than the current net tax capacity of the parcel(s) eliminated from the TiMistrict. The EDA or City must notify the County Auditor of any modification to the District. Modifications to t1a rrTV M ToTt-9"ol ", WN F. I 'W EDA or City, other than: I Amounts paid for the purchase of land; 2. Amounts paid to contractors or others providing materials and services, including architectural ani engineering services, directly connected with the physical development of the real property in the District; 3. Relocation benefits paid to or services provided for persons residing or businesses located in the District; or 4. Amounts used to pay principal or interest on, fund a reserve for, or sell at a discount bonds issued pursuant to M.S., Section 469.178; or 5. Amounts used to pay other financial obligations to the extent those obligations were used to finance costs described in clauses (1) to (3). For districts for which the request for certification were made before August 1, 1979, or after June 30, 1982, and before August 1, 2001, administrative expenses also include amounts paid for services provided by bond . . . ........ . . ...... New Hope Economic Development Authority Tax Increment Financing Plan for the City Center Redevelopment Tax Increment Financing District 2-11 counsel, fiscal consultants, and planning or economic development consultants. Pursuant to M.S., Section 469.176, Subd. 3, tax increment may be used to pay any authorized and documented administrative VO 1,r AKIMNV 'rkAM '0 (1), from the District, whichever is less. For districts for which certification was reauested after Julv 31. 200 1. no taY-i=rementmav-b---uso; to nav ;M-=��Mvw iffeff I Ohl 'MMIMMMUM 25, clause (1), from the District, whichever is less. ofM.S., Section 469.176, Subd. 3. The county may require payment of those expenses by February 15 of the Vear following the year the expenses were incurred. and the cost of examining and auditing authorities'use of tax increment financing. This amount may be 7djusted annually by the Commissioner of Revenue. M Increment 0 W-4 V "11 NOW1 account held in trust for all outstanding bonds to provide for the payment of the bonds at maturity or redemption date. I W I I r re.7,ow-Wo franeL�j� *r *tker site Yimimmxd&jy�., iYr-hAe!g,,g . . . . . . . . . .... plan, no additional tax increment may be taken front that parcel and the original net tax capacity of that parcel shall be excluded from the original net tax capacity of the tax increment financing district. If the authority or the owner of the 17arcel subsequently "wiaexces ise-astlitiox, re.k,-,kilitjW*x#r - 4--1 Ox tkxl'�f el ,pjwj!ti,.. , , rc includine aualifted imvrovement ofa street-&*?i#.,eevt to t1wt nxrrPl hr accordance with thp- W;'MWlGe:X Urlu Im" G-014fil 77aw r TrNii certyy tree 7177 tax capa Wiwi i WNWW"l- "NO.121"i subdivision. The authority must submit to the county auditor eviden-ce that the required activity has taken place for each parcel in the district. The evidence for a parcel must be New Hope Economic Development Authority Tax Increment Financing Plan for the City Center Redevelopment Tax Increment Financing District 2-12 street are limited to (1) construction or opening of a new street, (2) relocation ofa street, and (3) substantial reconstruction or rebuilding of an existing street. 2018 and report such actions to the County Auditor. 0 " 0 pay the principal of and interest on bonds issued to finance a project; 2. To finance, or otherwise pay the cost 'ie'ii ofthe Redevelopment Project No. I pursuant to MS., Sections 469.090 to 469.1082; 3. To pay for project costs as identified in the budget set forth in the TIF Plan; 4. To finance, or otherwise pay for other purposes as provided in MS, Section 469.176, Subd. 4; 5. To pay principal and interest on any loans, advances or other payments made to or on behalf of the EDA or City or for the benefit of Redevelopment Project No. I by a developer; C To finance or otherwise pay premiums and other costs for insurance or other security guaranteeing the payment when due of principal of and interest on bonds pursuant to the TIF Plan or pursuant to M.S., Chapter 462C M.S., Sections 469.152 through 469.165, and/or M.S., Sections 469.178; and 7. To accumulate or maintain a reserve securing the payment when due of the principal and interest on the tax increment bonds or bonds issued pursuant to M.S., Chapter 462C, M.S., Sections 469.152 through 469.165, and/or MS., Sections 469.178. 4.1 01 MAI- 5= - purposes prohibited by M.S., Section 469.176, Subd. 4. Tax increments generated in the District will be paid by Hennepin to the EDA for the Tax Increment F of said District. The EDA or City will pay to the developer(s) annually an amount not to exceed an arnou as specified in a develop&s agreement to reimburse the costs of land acquisition, public improvernen demolition and relocation, site preparation., and administration. Remaining increment funds will be usedilif Subsection 2-21. Excess Increments Excess increments, as defined in .S., Section 469.176, Subd, 2, shall beused only to do one or ore of the following: 1. Prepay any outstanding bonds; 2. Discharge the pledge oft increment for any outstanding bonds; 3. Pay into an escrow account dedicated to the payment of any outstanding bonds; or 4. Return the excess to the County Auditor for redistribution to the respective taxing jurisdictions in proportion to their local tax rates. The EDA or City must spend or return the excess increments under paragraph (c) within nine months after the end of the year. In addition, the EDA or City may, subject to the limitations set forth herein, choose to modify the TIF Plan in order to finance additional public costs in Redevelopment Project No. I or the .... . . ............ New Hope Economic Development Authority Tax Increment Financing Plan for the City Center Redevelopment Tax Increment Financing District 2-13 Subsection 2-22. Requirements for Agreements with the Developer ----------- issues related to the development. Pursuant to M.S., Section 469.176, Subd. 5, no more than 25 percent, by acreage, of the property to be acquired in the District as set fortk-koji 11,7! ?Tiv fl-cce tie. Im"p V t--1 0 574 li'A I ON lei cu'f $I a I I Ito a fitgo rag] POU -31 I KIMM 1ATAq IN$) 0 Or -go gum LOJ WO'g-2014) III vdug� MMMUC value of the land and completed improvements for the duration of the District. assessment agreement to ,--+ J+xg in the judgment of the assessor, to be a reasonable estimate, the County Assessor shall also certify the rninimum market value agreement. '707777r* =11 7 469.175 Subd, 5 and Subd. 6, the OSA will direct the County �uditor to withhold the distribution of tax increment from the District. ZT111111=11 nas 60cri rt c1pateM development would not reasonably be expected to occur solely through private investment within the SA -z' New Hope Economic Development Authority Tax Increment Financing Plan for the City Center Redevelopment Tax Increment Financing District 2-14 and City staff awareness of the feasibility of developing the project site(s) within the District. A comparative analysis of estimated market values both with and without establishment of the District and the use of tax "OTC, 'i Ail subtractions) exceeds the estimated market value of the site absent the establishment of the District and the use of tax increments. 1. General Limitations. All revenue derived from tax increment shall be used in accordance with the TIF Plan. The revenues shall be used to finance, or otherwise pay the cost of redevelopment of the Redevelopment Project No. I pursuant to M.S., Sections 469.090 to 469.1082. Tax increments may not be used to circumvent existing levy limit law. No tax increment may be used Air tke qciuisiti,#%, ct#*x, rcx*vM&tx, !«evi itr Rlfuil'fixg t*)Pe'USe'!J2EXk-?'ily and regularLy for conducting the of government or the state or federal government. This provision does not prohibit the use of revenues derived from tax increments for the construction or renovation of a parking structure. 2. Poolina Limitations. At least 75 percent of tax increments from the District must be expended on activities in the District or to pay bonds, to the extent that the proceeds of the bonds were used to finance activities within said district or to pay, or secure payment of, debt service on credit enhanced bonds. Not more than 25 percent of said tax increments may be expended, through a development fund or otherwise, on activities outside of the District except to pay, or secure payment of, debt service on credit enhanced bonds. For purposes of applying this restriction, all administrative expenses must be treated as if they were solely for activities outside of the District. 3. Five Year Limitation on Commitment of Tax Jncrerne nts. Tax increments derived from the District shall be deemed to have satisfied the 75 percent test set forth in paragraph (2) above only if the five year rule set forth in M.S., Section 469.1763, Subd. 3, has been satisfied; and beginning with the sixth year following certification of the District, 75 percent of said tax increments that remain after expenditures permitted under said five year rule must be used only to pay previously committed expenditures or credit enhanced bonds as more fully set forth in M.S., Section 469.1763, Subd 5. 4. Redevelo-oment District.. At least 90 percent of the revenues derived from tax increment from 9 redevelopment district must be used to finance the cost of correcting conditions that allow designation ofredevelopment and renewal and renovation districts underM.S, Section 469.176Subd. 4j. These costs include, but are not limited to, acquiring properties containing structurally substandard buildings or improvements or hazardous substances, pollution, or contaminants, acquiring adjacent parcels necessary to provide a site of sufficient size to permit development, demolition and rehabilitation of structures, clearing of the land, the removal of hazardous substances or remediation necessary for development of the land, and installation of utilities, roads, sidewalks, and parking facilities for the site. The allocated administrative expenses of the EDA or City, including the cost of preparation of the development action response plan, may be included in the qualifying costs. Subsection 2-28. Summary ......... . New Hope Economic Development Authority Tax Increment Financing Plan for the City Center Redevelopment Tax Increment Financing District 2-15 rfleci-w of lb-ov/ Vincefl-tid P7Nq-r.-,qf1tA to-, telephone (651) 697-8500. New Hope Economic Development Authority Tax Increment Financing Plan for the City Center Redevelopment Tax Increment Financing Distrir-t 2-16 Nmmz�` �$# 1 consisting of a grocery store, convenience store/gas station, apartments, retaoffice and restaurants in the City. Appendix A-1 is"M A Y W VV OLT"' VI of iAx 5 41 I Wmw exp A! IN• .004 City of New Hope Hennepin County, MN City Center Redevelopment TIF District Legend City Center Redevelopment TIF District Redevelopm -ent Project Na I 0 W OW 2 IM A Mn Firm, parcels listed below. Pa rcel Num bers Address Owner 1811821110013 4300 Xylon Ave N. New Hope EDA 1811821 I 10012 4200 Xylon Ave N. New Hope EDA 1811821 110005 8100 42 d Ave N. New Hope EDA 1811821110018 4301 Winnetka Ave N. Winnetka Mall, LLC Appendix C-1 MM ` `.... � Appendix D I 8/8/2014 EHLERS YWnnetka Mail Redevelopment - No Inflation City of New Hope Bass Value Assumptions - Page I Ehl.. & Resociatss. inc. af"t-s only N.Wnn9OtaV4&W Hapeftusing - Economic - R9dev9tDpmedk71FNT1F 01stdcf2ftlaft TtF DINM 173614 • • 11 -MA Ehl.. & Resociatss. inc. af"t-s only N.Wnn9OtaV4&W Hapeftusing - Economic - R9dev9tDpmedk71FNT1F 01stdcf2ftlaft TtF DINM 173614 am. Base Value Assumptions -Page 2 Prepared by Fhlm A AS -Mist-, Im-, - ESUMOtOR Onilf ."OaWew Hq*%Usjng - EB nomI - RO"ve%pMnftMTW Mabkti;Wm jt TIF MOWN Rm 7,30.14 fi ttbf MAP" T MCATIO S iii i tit Prepared by Fhlm A AS -Mist-, Im-, - ESUMOtOR Onilf ."OaWew Hq*%Usjng - EB nomI - RO"ve%pMnftMTW Mabkti;Wm jt TIF MOWN Rm 7,30.14 8812014 Tax Increment Cashnow - Page 3 EHLERS Winnetka Mail Redevelopment - No Inflation City of New Hope ig. Sr. 4oartments. Retail, Office & Restaural .7 -14 orwal Fiscal Capiarad i L014i Armes' - SOME-SUNUM ftne -Amr del asn" rcruwu Tax Payme Not Tax Present ENDING nk %Of Tax Tax 01 les Tax Tex Gross Tax Gross Tax Auditor Incrafrom st i0% Incron""t Yrs, yew Otto OTC capadby capselly IncresserOAl Capacity Rate --increment 02101116 08MI/16 100% 1,109.750 (201,220) (233,399) 675,132 153.7 92% 1,038,299 519,160 (1.869) (51,728) 465,553 465,553 430,099 851,764 0.5 2097 08/01M7 1 2017 02M1118 100% 1,120848 (201,220) (236,469) 683,i69 153.792% 1,050,659 619,150 525,330 (1,869) (1'891) (51,728) (52,344) (52,344) 471,094 471,094 1,270,063 1,680,199 1.6 2018 08101118 2 2018 02101119 100% 1,132,056 (201,220) (239,550) 691,286 1637,92% 1,083,142 525,330 631.671 (1,891) (1,914) (52.965) 476,692 476,692 2,087,050 2,485,925 2.5 2019 08101t19 3 2019 02101120 100% 1,143.377 (201,220) (242,673) 699,484 1537921/6 1,075,750 531,571 537,875 (1,914) (11936) (52,966) (53,594) 482,345 482,345 2,981,616 3,269,548 3.5 2020 0801120 4 2020 02/01121 10()% 1,154810 (201,220) (245,826) 707,764 153792% 1,088,484 537,875 544,242488,055 (1,936) (53,594) (54,228) 488,055 3,654,375 4,031,657 4.5 2021 0=1/21 5 2021 021OU22 100% 1,166 358 (201,220) (249,012) 716,927 163.792% 1,101,345 544,242 550,673 550,673 (1,959) (1,982) (1,982) (54,869) (54,B69) 493,821 493,821 4,405,912 4,772,829 5.5 2022 08101122 6 2022 02101123 100% 1,178,022 (201.220) (252,229) 724,573 1453.792% 1,994,336 557,168 (2,006) (55,515) (55,516) 499,846 499,646 5,136,794 5,493,622 6.5 2023 08511123 7 2023 02(01124 100% 1,189,82 (201,220) (255,479) T33,104 153.792% 1.127,456 567,168 563,728 (2.006) (2,D')9) (56,170) 505.529 505,529 5,847,573 6,194,583 7.5 2024 06101124 a 2024 02101125 100% 1,201700 (201,220) (258,760) 741,721 153.792% 1.140,707 563,728 670,353 (2,029) (2.053) (56,170) (56,830) 511,470 6,538,788 8.5 2025 08101125 570,353 (2,053) (56,830) 511,470 6,876,244 9 2025 02101126 100% 1.213.717 (2C1.220) (262,074) 750,423 153 792% 1,154,090 577.045 $77,045 (2,077) (2,077) (57,497) (57,497) 597.471 617,471 7,210,964 7,539,121 9.5 2026 08101126 10 2026 02101127 100% 1,225854 (20,220) (265,422) 769,212 153.792% 1,167.608 5113,8D4 (2.102) (58,170) 523.532 523,532 7,864,613 8,193,722 10.5 2027 08101127 11 2027 02/01/28 100% 1,238 113 (201,220) (268,803) 768,0140 153.792% 1,181,281 583.804 590.630 (2,102) (2.126) (58,170) (50,850) 529,854 8,500,232 11.5 2028 08/0W8 590,630 (2,125) (58,850) 529,654 8,1110,636 12 2028 02101129 100% 1,250494 (201,220) (272,218) 777,056 153,792% 1,195,050 597,625 (2.151) (59,537) 535,836 9,118,306 12.5 2029 08101129 597,525 (2,151) (59,537) 535,836 0,420,042 13 2022 02101134 100% 1,262,999 (201.220) (275,667) 786.112 153.792% 1,208,977 604.488 (2,176) (60,231) 642,081 9,719,310 13.5 2030 08101/30 604,498 (2,176) (60,231) 642,081 10,012,709 14 2030 02101131 100% 1,275,829 (201,220) (279,151) 795,268 153.792% 1.223,043 611,522 (2,201) (60.932) 548,388 10,303.702 14.5 2031 08/01131 611,522 (2,201) (60,932) 548,388 10,588,989 15 2031 02/61/32 100% 9,28B.385 (201.220) (282,669) 804,496 153.792% 1,237,260 615,625 (2,227) (61,640) 564,758 10,871931 15.5 2032 08101/32 618,625 (2,227) (61,64D) 554,750 11,149,326 16 2032 02/01133 900% 9301,289 (201 (286,223) 813,826 153.792% 1,261,599 625,800 (2,253) (62,355) 561,192 11,424,435 16.5 2033 08101133 ,220) 625,800 (2,253, (62,355) 661,192 11,894.150 W 2033 0210M4 100% 1,314,292 (201,220) (289,912) 823,260 153.792% 1,286,092 633,046 (21279') (63,077) 567,690 567,690 11,961,639 12,223.882 17.5 2034 06501134 18 2034 02101135 832,767 153Y92% 1.280,729 633,046 640,365 (2,2791 (2,305� (63,077) (63.806) 574,253 12,493,9W 18.5 2035 05MI135 100% 1,327,425 (201,220) (293.437) 640,365 (2,305) (63,806) 674,263 12,738,931 19 2035 02101/35 100% 1,340,699 (201,220) (297,099) 842,380 153.792% 1,295.513 647,757 (2,332) (64,542) (64,542) 580,882 5 80,852 12,991,7111 13,239,693 19.5 2036 08MIM 20 2036 02101137 100% 1,354,108 (201,220) (300,797) 852.089 153.792% 1,310,445 647,757 655,223 (2,332) (2,359) (65-286) (65,286) 687,577 587,577 13.485,536 13,726,569 20.6 2037 08101137 21 2037 02101138 1.367,847 (201,220) (304,532) 881,895 153.792% 1,325,526 655,223 682,763 (2,359) (2,386) (66,038) 594,339 13,965,574 14,199,904 21.5 2038 08101138 22 2038 02101139 100% 662,763 (2,386) (2.413) (66,038) (66,797) 694,339 601,169 14,432.Z78 22.5 2039 08101139 100% 1,381,323 (201,220) 308 (,304) 871,800 153,792% 1,340.758 670,379 670,379 (2,412) (66,797) 601,169 14,660,096 23 2039 02/01140 100% 1,395,137 (2.01,220) (312,114) 881,803 153.792% 1,366.142 678.071 (2,441) (67,563) (67,563) 608,067 608,067 14,886,010 15,107,494 23.6 2040 08101140 24 2040 02101/41 891,906 153.792% 1,371,680 678,071 685.840 (2,441) (2,489) (68,3371 615,034 15,327,123 24.5 2041 08/01141 100% 1,409,088 (201,220) (315,962) 685,840 (2,469) (68,337) 615,034 15,542,446 25 2041 025)9142 100% 1,423,179 (201,220) (319,849) 902,110 153,792% 1,387,373 693.687 (2,49T) (69,119) (e9'9i9) 622,071 622,079 15.755.982 16,965,291 25.5 2042 08101142 26 2042 02M1143 693,687 31,353,317 JZM � (112,872) (3,124.045) 211,116A01 Total Present value From 08/014'2018 PresentValuelitate 4.0014 17�W3,306 ._ t64.0921 01773,1211 15,M.221 Yy EMem & AW dates, Im. - E-*nat- Only .7 -14 fflinnesota Business Assistance Form 2ctivity by April I of the following year, VITOT-Mr, M. ME= Appendix F -I ------ . ................ ....................................... - --------------- - - ------ . ....... . ... ......... But -For Analysis .................. . Current Market Value New Market Value - Estimate Difference Present Value of Tax Increment Difference Value Likely to Occur Without TIF -As Less Than: 10,136,000 63,550,000 53,414,000 17,803,3 5 ........ . ... ... ............... 35,610,695 3;,61^,695 . . . ..... . ...... _ . . .... .. ..... . . . . . . . ...................... ... . ..... .... .. Appendix G-1 of =$- f1will Appendix H-1 4401 Xylon Avenue North New Hope, MN 55428 763-531-5127 www.ei.new-hope.mn.us Site Address: 4471 Winnetka Ave N Lot: Block: Addition: Unplatted 18 118 21 PID: 18-118-21-11-0018 Use: ME =0 Sub Type: Commercial Construction Type: Work Type: Alteration Description: Construct 2 interior offices Census Code: - Occupancy: Zoning: Square Feet: 0 Permit TyII pe: Building Permit Number: NH043896 Date Issued: 02/27/2014 . .............. Fee Summary: DescriDtion Con tr a c to r Amount Revenue Code Plan Review $136.01 4555 Valuation: 11,250.00 Surcharge - Based on Valuation $5.63 2383 UBC 1997 - base fee $209.25 4310 Total: $350.89 Applicant 0 w n er BAINEY GROUP Wfimetka Mail Lie 14700 28th Ave N 3080 Centerville Rd Plymouth MN 55447 Little Canada MN 55117 (763) 557-6911 THIS PERMIT ISG NTED UPON THE EXPRESS CONDITIONS THAT SAID OWNER OR AGENT TO WHOM IT ISGRANTED, AND CONTRACTORS, AGENTS. WORKERS AND EMPLOYEES SHALL COMPLY IN ALL RESPECTS WITH THE ORDINANCES OF THE CITY OF NEW HOPE. BY CHECK PAYMENT. YOU AUTFIORJZE THE CITY TO USE INFORMATION FROM YOUR CHECK TO MAKE A ONE-TIME ELECTRONIC FUND TRANSFER FROM YOUR ACCOUNT, Applicant/Permitee: Signature issued By: Signature PERMIT City of New Hope 4401 Xylon Avenue North Now Hope, MN 55428 763-531-5127 www.ci.new-hope.mn.us Lot: Block: Addition: Unplatted 18 118 21 PID: 18-118-21-11-0018 Use: Dollar Tree Store Description: 2383 Sub Type: Commercial Work Type: Tenant Improvement Description: Tenant improvement Census Code: - Zoning: Square Feet: 0 Comments: SEE NOTES ON PLANS Fee Summary: Descrintion Plan Review Valuation: 172,465.00 Surcharge - Based on Valuation UBC 1997 - base fee Total: Permit Type: Building Permit Number: NHO42694 Date Issued: 06/07t2013 IMMEEMM ME =- Amount Revenue Code $911.66 4555 $86.23 2383 $1,402.55 4310 52,400.44 Contractor: Owner: - Applicant - SWORD CONSTRUCTION Winnetka Mall Lie 1422 STONEHOLLOW DRIVE #13 3080 Centerville Rd KINGWOODTat 77339 Little Canada MN 55117 (281) 312-4200 1 ITHIS PERMIT ISO NTED UPON THE EXPRESS CONDITIONS THAT SAID OWNER OR AGENT TO WHOM IT IS GRANTED, AND CONTRACTORS, AGENTS, WORKERS AND EMPLOYEES SHALL COMPLY IN ALL RESPECTS WITH THE 'ORDINANCES OF THE CITY OF NEW HOPE. BY CHECK PAYMENT, YOU AUTHORIZE THE CITY TO USE INFORMATION FROM YOUR CHECK TO MAKE A ONE-TIME ELECTRONIC FUND TRANSFER FROM YOUR ACCOUNT, Applicant/Permitee: Signature .1 Issued By: I Signature PERMIT City of New Hope Permit J' e: Building 4401 Xylon Avenue No Permit Number: NH042399 New Hope, MN 55428 Date Issued: 04/0812013 763-531-5127 www.ci.new-hope.mn.us Site Address: 4301 Winnetka Ave N Lot: Block: Addition: Unplatted 18 118 21 PID: 18-118-21-11-0018 Use: Linders garden center Description: Plan Review Sub Type: Commercial Construction Type: Work Type: Undefined Description: Temporary garden center Census Code: - Occupancy: Zoning: 4310 Square Feet: 0 Fee Summary: Rmgri� Amount Revenue C ode Plan Review $117.81 4555 Valuation: 10,000.00 Surcharge - Based on Valuation $5.00 2383 UBC 1997 - ba -se fee $181.25 4310 Iota V: 5304.06 Contractor: Owner: Applicant Winnetka Mail Lie 3080 Centerville Rd Little Canada MN 55 117 THIS PERMIT ISG NTED UPON THE EXPRESS CONDITIONS THAT SAID OWNER ORAGENT TO WHOM IT ISORANTED, AND CONTRACTORS, AGENTS, WORKERS AND EMPLOYEES SHALL COMPLY IN ALL RESPECTS WITH THE 0 RDINANCES OF THE CITY OF NEW HOPE. BY CHECK PAYMENT, YOU AUTHORIZE THE CITY TO USE INFORMATION FROM YOUR CHECK -rO MAKE A ONE-TIME ,ELECTRONIC FUND TRANSFER FROM YOUR ACCOUNT. Applicant/Pe I I I rmitee: Si . gnature I slued By: Signature ABIMA, � 1:= 4401 Xylon Avenue North New Hope, MN 55428 763-531-5127 www.ci.new-hope.mn.us Lot: Block: Addition: Unplatted 18 118 21 PID: 18-118-21-11-0013 Use: Description: Sub Type: Commercial Work Type: Demolition Description: Demo Kart Census Code: - Zoning: Square Feet: 0 I � IN I I I 1111111,�111- NM�M' Comments: Per contract, specs and plans,erect security fence at start of building demolition. Fee Summary: Descrintion Amount Plan Review $918.94 Valuation: 175,000.00 UBC 1997 - base fee $1,413.75 Total- $2,332.69 Contractor: - Applicant Owner: Landwehr Construction City of New Hope PO Box 1086 4401 Xylon Ave N St Cloud MN 56302 New Hope MN 55428 (320) 252-1494 )Revenue Code 4555 4310 AND CONTRACTORS. AGENTS. WORKERS AND EMPLOYEES SHALL COMPLY IN ALL RESPECTS WITH THE ORDINANCES OF THE CITY OF NEW HOPE. BY CHECK PAYMENT. YOU AUTHORIZE THE CITY TO USE INFORMATION FROM YOUR CHECK To MAKE A ONE-TIME ELECTRONIC FUND TRANSFER FROM YOUR ACCOUNT. b. Applicant/Pcrrnitee: Signature I Issued By: Signature PERMIT City of New Hope Permit TYpe- Building 4401 Xylon Avenue North Permit Number: NH042127 New Hope, MN 55428 Date Issued: 01/22/2013 763-531-5127 vmw.ci.new-hope.mn.us Site Address: 4200 Xylon Ave N Lot: Block: Addition: Unplatted 18 118 21 PID: 18-118-21-11-0012 Use: Description: Sub Type: Commercial Construction Type: Work Type: Demolition Description: Demo bank building Census Code: Occupancy: Zoning: Square Feet: 0 Comments: .. ......... . . . ........ Descri tion Fee Summary- jL— ......... ......... .. Amount Revenue Code Surcharge - Based on Valuation $9.35 2383 . . ..... . ......... ..... . .... Valuation: 18,700.00 . ..... Total: $9.35 --t-Own- Contractor: Applicant er: Landwebr Construction City of New Hope PO Box 1086 St Cloud MN 56302 (320) 252-1494 THIS PERMIT IS GRANTED UPON THE EXPRESS CONDITIONS THAT SAID OWNER OR AGENT 1-0 WHOM IT IS GRANTED, AND CONTRACTORS, AGENTS, WORKERS AND EMPLOYEES SHALL COMPLY IN ALL RESPECTS WITH THE ORDINANCES OF THE CITY OF NEW HOPE. -1Y CHECK PAYMENT, YOU AUTHORIZE THE CITY TO USE INFORMATION FROM YOUR CHECK TO MAKE A ONE-TIME ,LECTRONIC FUND TRANSFER FROM YOUR ACCOUNT. Applicant/Permitee: Signature issued By: Signature