Agenda - Council - 12/08/2009 - Laserfiche WebLink

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Councilmember introduced the following resolution and moved for its adoption: RESOLUTION # 09-12~ RESOLUTION APPROVING THE MODIFICATIONS TO THE TAX INCREMENT FINANCING PLANS FOR TAX INCREMENT FINANCING DISTRICT NOS. 1, 2 and 4 WITHIN MUNICIPAL DEVELOPMENT DISTRICT NO. 1 WHEREAS, A. The City of Ramsey, Minnesota (the "City"), has heretofore created Municipal Development District No.1 and adopted a development program therefor, and has created Tax Increment Financing Districts Nos. 1,2 and 4 therein and adopted tax increment financing plans therefor, and it has been proposed that the City amend the tax increment financing plans, under the provisions of Minnesota Statutes, Sections 469.124 to 469.134 and 469.174 to 469~179 (collectively, the "Act"); and B. The City Council has investigated the facts and has caused tobe prepared proposed Modifications to the tax increment financing plans for Tax Increment Financing District Nos. 1,2 and 4, de;fining more precisely increased public costs to be included in Municipal Development District No. I; and C. The City has performed all actions required by law to be performed prior to the proposed Modifications to the tax increment financing plans for Tax Increment Financing District Nos. 1, 2 and 4, including but not limited to, notification of Anoka County and Independent School District No. 11, and holding of a public hearing upon published notice as required by law; and NOW, THEREFORE, BE IT RESOLVED, BY THE CITY COUNCIL OF THE CITY OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: 1. Municipal Development District No.1. The City is not modifying the boundaries of Municipal Development District No.1. 2. Development Program. The City is not amending the Development Program for Municipal Development District No.1. 3. Tax Increment Financing District Nos. 1,2 and 4. The City is not modifying the Boundaries of Tax Increment Financing District Nos. 1,2 and 4. 4. Modifications to the Tax Increment Financing Plans. The Tax Increment Financing Plans for Tax Increment Financing District Nos. 1,2 and 4 are amended as set forth in the Modifications to the Tax Increment Financing Plans. The City Council makes the following findings with respect to Tax Increment Financing District Nos. 1,2 and 4: (a) Tax Increment 1,2 and 4 when established were established as redevelopment districts 'as defined in Minnesota Statutes, Section 469.174, Subd. (1 O)(a)(l). The City reaffirms the findings previously made with respect to the establishment of Tax Increment Financing District Nos. 1,2 and 4. (b) The proposed redevelopment in the opinion of the City Council, would not occur solely through private investment within the reasonably foreseeable future and therefore the use oftax increment is deemed necessary. The reasons supporting this finding are that: