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City of Ramsey, Minnesota <br />2. To the extent the project in TIF District 14 generates any public cost impacts on city - provided services such <br />as police and fire protection, public infrastructure, and the impact of any general obligation tax increment <br />bonds attributable to the district upon the ability to issue other debt for general fund purposes, such costs will <br />be levied upon the taxable net tax capacity of the City, excluding that portion captured by the District. <br />3. The amount of tax increments over the life of the district that would be attributable to school district levies, <br />assuming the school district's share of the total local tax rate for all taxing jurisdictions remained the same, is <br />estimated to be $37,324,274. <br />4. The amount of tax increments over the life of the district that would be attributable to county levies, <br />assuming the county's share of the total local tax rate for all taxing jurisdictions remained the same is <br />estimated to be $65,871,101. <br />5. No additional information has been requested by the county or school district that would enable it to <br />determine additional costs that will accrue to it due to the development proposed for the district. <br />Section W Prior Planned Improvements <br />The City shall accompany its request for certification to the County Auditor (or notice of district enlargement), with a <br />listing of all properties within the TIF District for which building permits have been issued during the 18 months <br />immediately preceding approval of the TIF Plan. The County Auditor shall increase the original net tax capacity of the <br />TIF District by the net tax capacity of each improvement for which a building permit was issued. <br />The City is in the process of seeking special legislation to seek exemption from or redefinition of the requirements of <br />Minnesota Statutes Chapter 469.177 Subdivision 4. <br />Section X Development Agreements <br />If within a project containing a redevelopment district, more than 25% of the acreage of the property to be acquired by <br />the Authority is purchased with tax increment bonds proceeds (to which tax increment from the property is pledged), <br />then prior to such acquisition, the City must enter into an agreement for the development of the property. Such <br />agreement must provide recourse for the City should the development not be completed. <br />The City anticipates entering into individual agreements for development as projects occur, but does not anticipate <br />acquiring any additional property located within the TIF District. <br />Section Y Assessment Agreements <br />The City may, upon entering into a development agreement, also enter into an assessment agreement with the <br />developer, which establishes a minimum market value of the land and improvements for each year during the life of <br />the TIF District. <br />The assessment agreement shall be presented to the County or City Assessor who shall review the plans and <br />specifications for the improvements to be constructed, review the market value previously assigned to the land, and <br />so long as the minimum market value contained in the assessment agreement appears to be an accurate estimate, <br />shall certify the assessment agreement as reasonable. The assessment agreement shall be filed for record in the <br />office of the County Recorder of each county where the property is located. Any modification or premature <br />termination of this agreement must first be approved by the City, County and School District. <br />SPRINGSTED Page 10 <br />