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<br />· Tax Increment Financing (TIF) can also playa role in C1dvancing interchange <br />improvements that are needed to address safety and emergency response issues - <br />improvements that under traditional funding sourceS won't likely happen for 20 years. <br /> <br />· A rail station in Ramsey is a recognized infill station on the Northstar Commuter Rail <br />line. Over the past several years, significant investments have been made including the <br />$317 million offederal, state and local funds to create Northstar and accommodate <br />transit and rail services at this specific location. <br /> <br />· Capturing a portion of new revenue generated from the transit district will allow for a <br />higher level of reinvestment into the area, which would otherwise wait decades to be <br />addressed through state and other traditional funding sources. <br /> <br />· But for the financing provided by the proposed TIF legislation, this development will not <br />be successful. Traditional methods of financing are no longer viable options in our <br />current environment. Bonding for projects has become difficult due to the significant <br />decrease in property values, state agencies are cutting back at unprecedented levels <br />and fiscally constrained plans contain fewer projects than ever. <br /> <br />· TIF provides a vehicle to capture new revenues generated by growth around the station <br />area. It serves as a fair and equitable financing option that can yield a return on <br />investment in an extremely difficult economic environment. It does not take away from <br />existing revenues and is a temporary tool designed for a specific and limited purpose. <br /> <br />Ramsey Town Center: Planning for a Regional Benefit <br />· Ramsey strategically aligned its planning efforts for the Town Center with Metropolitan <br />Council policies for transportation investments regarding land use, system management <br />and the integration of multimodal transit options: <br />o By promoting land use planning and development practices that maximize <br />accessibility to jobs, housing and services <br />o Through the coordination of transportation investments and land <br />development along a major transportation corridor to intensify job centers, <br />increase transportation links between job centers and medium-to-high <br />density residential developments <br />o Using transit as a catalyst for development by developing and implementing <br />local comprehensive plans, zoning and community development strategies <br />that ensure more intensified development along Northstar Corridor and <br />Trunk Highway 10 Corridor <br /> <br />· Perhaps the largest investment in the Town Center thus far has been for the <br />construction of the 590-stall municipal parking. The Ramsey Municipal Parking Ramp rs <br />unique to the Northstar service in that it is complete and readily available for use, and <br />located within feet from the rail line. <br /> <br />2 <br />