Agenda - Council - 12/09/2008 - Laserfiche WebLink

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Council member introduced the following resolution and moved for its adoption: RESOLUTION N0.08-12- A RESOLUTION OF THE CITY OF RAMSEY APPROVING THE AMENDMENT TO THE TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NOS. 1, 2, 4, 8 AND 10 WHEREAS, the City of Ramsey; Minnesota (the "City") has heretofore established Tax Increment Financing District Nos. 1, 2 and 4 ("TIF District No. 1, 2 and 4"); Tax Increment Financing District No. 8 ("TIF District No. 8); and Tax Increment Financing District No, 1D ("TIF District No. 10" and together with "TIF District Nos, 1, 2 and 4" and "TIF District No. 8", the "TIF Districts"), all within Municipal Development District No. 1 and has adopted a Tax Increment Financing Plan for each of the TIF Districts; and there is a proposal to amend the Tax Increment Financing Plan for the TIF Districts under the provisions of Minnesota Statutes, Sections 469.174 to 469.1799 and Sections 469.001 through 469.047(the "Act"); and WHEREAS, the City has prepared an amendment to the Tax Increment Financing Plans for TIF District Nos. 1, 2 and 4, reflecting the .amended and restated budget, attached as Exhibit A hereto (the "Amendment to TIF District Nos. 1, 2 and 4"); and WHEREAS, the City has prepared an amendment to the Tax Increment Financing Plan for TIF District No. 8, reflecting the amended and restated budget, attached as Exhibit B hereto (the "Amendment to TIF District No. 8"); and WHEREAS, the City has prepared an amendment to the Tax Increment Financing Plan for TIF District No. 10; reflecting the amended and restated budget, attached as. Exhibit C hereto (the "Amendment to TIF District No. 10");.and WHEREAS, the City has performed all actions required by law to be performed prior to the approval of the Amendment to TIF District Nos. 1, 2, and 4; Amendment to TIF District No. 8; and Amendment to TIF District No. 10 (collectively, the "Amendments"); and NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ramsey: 1. The City finds, determines and declares that with respect to the Amendments: (a) The City is not modifying the boundaries of the TIF Districts nor increasing the budget in the Tax Increment Financing Plan for the TIF Districts, but is, however, making an amendment thereto. (b) The City reaffirms the findings previously made with respect to the TIF Districts. (c) The- Amendments conform to the general plan for the development of the City as a whole. (d) The Act does not require a public hearing on the Amendments. 2. The .City hereby modifies the budget for the TIF Districts as set forth in the Amendments. The Amendments, as presented to the City Council on this date, are hereby approved and adopted. T`he City's Economic Development Coordinator is authorized and directed to file a copy of the Amendments with the Office. of the State Auditor and the Commissioner of Revenue -116-