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City of Roseville, Minnesota DEPARTMENTAL DESCRIPTION 2002 Budget ECONOMIC INCREMENT Fund: Economic Increment Account Number: 570 - 088.000 Organizational Accountability: Finance Director Economic Increment provides for a livable community through economic redevelopment and quality community infrastructure. The fund includes the Economic Increments Construction Fund. CITY RESOURCE INPUTS 2002 STxATEGIC WORK PLAN EXPECTED CITY OUTCOMES Strategic Outcomes: Economically competitive community with quality development and jobs Community that is a desirable and affordable place to live and work IV -57 2000 ACHIEVEMENTS Ai Stabilized the tax increment program with a balance between debt service and state imposed decreases in tax classification rates it Complete development in TIF districts that resulted in 190,000 Sq. Ft. of new space and created 13 million in new tax value Citizen Benefit /Impact: •:� Pollution clean -up and reduction of urban blight Growth in the number of head -of- household jobs and increase in tax revenues Total Net Tax Capacity (NTC) $30,397,129 $41,691,080 $3713031272 Tax Increment (NTC) $710081680 $810491057 $712441151 % of Rate in Tax Increment 18.7% 19.4% 19.3% District Net Contribution to Fiscal $712761110 $814701931 $812331745 Disparities (NTC) % of Rate Contributions to 23.9% 20.3% 22.1% Other Communities Strategic Outcomes: Economically competitive community with quality development and jobs Community that is a desirable and affordable place to live and work IV -57 2000 ACHIEVEMENTS Ai Stabilized the tax increment program with a balance between debt service and state imposed decreases in tax classification rates it Complete development in TIF districts that resulted in 190,000 Sq. Ft. of new space and created 13 million in new tax value Citizen Benefit /Impact: •:� Pollution clean -up and reduction of urban blight Growth in the number of head -of- household jobs and increase in tax revenues