Laserfiche WebLink
<br />Case # 3 <br /> <br />TIF REPORT FINDINGS FOR 167TH COMMERCIAL NODE <br />By: Sean Sullivan, Economic Development Coordinator <br /> <br />Background: <br /> <br />The intersection of 167th Avenue and Highway 47 is an area that has been identified by the EDA as needing <br />some revitalization. A study was done by the McComb Group, Ltd. that identified this area as being a place <br />where commercial activity could prosper. In 2008, The Ramsey EDA contracted with the Buxton Group to take <br />a fresh new look at this area to see if it still had the potential that the McComb Group, Ltd. identified. The <br />results. of the Buxton study concluded that the area populations, traffic counts and demographics still support a <br />commercial node in this area. The City has also purchased a significant amount of property just south of the <br />'current commercial corner. Portions of the commerci,al corner are in need of revitalization or reconfiguration. <br />At the July 2009 meeting the EDA authorized LHB to conduct TIF analysis for this area to determine the <br />boundaries and type of district that could be created. <br /> <br />Observations: <br /> <br />The complete TIF Report was delivered to the City of December 2, 2009. The report defined the boundaries of <br />a viable redevelopment TIF district. The analysis included the inspection of existing structures and the <br />production of supporting evidence for the strict redevelopment criteria required by the State of Minnesota <br />legislature. A Renewal and Renovation District is also and option when considering the parcel to the east of <br />State Hwy 47. These findings do not serve as an initiator of the creating of a TIF District for the 167th <br />Commercial node, they only outline the TIF District possibilities for the area. The public process to create a <br />TIF district would require a public hearing and findings of fact. The report itself could be used as supporting <br />documentation for the creation of a TIF district in the future. <br /> <br />Funding Source: EDA Levy <br /> <br />Recommendation: <br /> <br />Accept TIF report and identify TIF as a viable redevelopment tool for the 167th Commercial Node. <br /> <br />EDA Action: <br /> <br />Motion to accept TIF report and identify TIF as a viable redevelopment tool for the 16ih Commercial Node. <br /> <br />Attachment: <br /> <br />Proposed TIF District Boundary <br /> <br />EDA: 12.10.09 <br /> <br />17 <br />