To examine the growth of the 5 TIF Districts included in our analysis, we calculated the compound annual growth rate (CAGR) for each TIF District’s EAV based on the total base EAV of each TIF District and the TIF District’s total EAV in the year before the termination year (the most recent annual EAV data available).
Because the Central Loop, Chatham Ridge and Chinatown Basin TIF Districts were amended during their terms to include additional parcels, two CAGRs were calculated for each of these districts to eliminate any artificial increase in EAV due to the new parcels.
The following chart shows the beginning EAV, final EAV and CAGR for each TIF District’s analysis period:
|
TIF District |
Analysis Period |
Beginning EAV |
Final EAV |
CAGR |
|
Central Loop |
1984-1996 |
$54,537,921 |
$389,437,601 |
17.80% |
|
1997-2007 |
$1,379,439,511 |
$3,184,101,518 |
8.72% |
|
|
Chatham Ridge |
1986-2000 |
$1,369,425 |
$21,613,200 |
21.78% |
|
2001-2009 |
$24,357,066 |
$38,315,922 |
5.83% |
|
|
Chinatown Basin |
1986-1999 |
$199,790 |
$14,626,407 |
39.13% |
|
2000-2009 |
$19,243,111 |
$68,073,215 |
15.07% |
|
|
Ryan/Garfield |
1986-2007 |
$166,083 |
$7,353,511 |
19.78% |
|
West Ridge-Peterson |
1986-2009 |
$1,617,926 |
$11,299,347 |
8.82% |
In addition to calculating the CAGR for each TIF District, we also derived each TIF District’s year-over-year EAV growth to look for growth patterns among the TIF Districts. Based on this year-over-year analysis, the Central Loop, Chatham Ridge and Chinatown Basin TIF Districts experienced steady growth during their terms. The Ryan/Garfield TIF District experienced rapid growth in the first few years and the final few years of its term. Growth in the West Ridge-Peterson TIF District was concentrated in the final few years.