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2010 General Fund Expenditures by Type <br />Supplies <br />7% <br />C apital <br />Outlay /Other <br />5% <br />Services /Charges <br />20% <br />Updated 01.08.2010 <br />TIF Districts <br />What is a TIF District? <br />A Tax Increment Financing (TIF) District is a geographical area defined by the City to promote <br />development, or redevelopment, utilizing tax increment financing. TIF is a development tool utilized by <br />government agencies to encourage development that otherwise would not be financially feasible. TIF <br />can be used for many purposes, but is most frequently used by the City of Ramsey to promote industrial <br />development that increases tax revenues, and creates high quality jobs. The increased property tax <br />capacity, and the additional property tax generated from the new development, is used to finance <br />qualified improvements, or to write down development costs within each TIF district. The City of <br />Ramsey administers funding for the following TIF districts: <br />TIF District 1 <br />This Redevelopment district has not had any additional development in 2009. This district is funding <br />previous financial obligations, is financially sound and will be decertified no later than December 2011. <br />TIF District 2 <br />Tag Machine moved into its new 11,000 square foot facility in 2009. There is little vacant land in this TIF <br />district, but the City /EDA continues to acquire blighted and under - utilized properties to redevelop the <br />area. This district is funding previous financial obligations, is financially sound and will be decertified no <br />later than 2013. <br />TIF District 4 <br />No new development activity has taken place in this Redevelopment district in 2009. This district has <br />had significant growth in tax base due to Rivenwick Village and adjacent commercial development now <br />being placed on the tax rolls. This district is funding previous financial obligations, is financially sound <br />and will be decertified no later than 2014. <br />City of Ramsey Page 5 2009 Annual Report <br />