Laserfiche WebLink
'1 <br /> I <br /> I <br /> <br /> I <br /> <br /> I <br /> I <br /> I <br /> I <br />I <br />I <br />I <br /> I <br /> I <br /> <br />CASE # <br /> <br />Approval to Enter into a Contract for Private Development <br /> Between the City of Ramsey and ACCAP <br /> <br />By: Michael Mulrooney, Development Consultant <br /> Sean Sullivan, TIF Specialist <br /> <br />Background: <br /> <br />In October of 2001 the City of'Ramsey approved a Tax E~crement Financing Plan to Establish <br />TIF District #9. The housing district was created to provide assistance to the Anoka County <br />Community Action program (ACCAP) to develop a 29-unit rental tow~ouse project. The TIF <br />proceeds will be used for land acquisition, site improvements and other eligible expenses. It is <br />proposed that any TIF assistance be provided on a "pay as you go" basis in an amount not to <br />exceed $711,000. Staff was directed by Council to negotiate a development agreement with <br />ACCAP. The developer now wishes to enter into a development agreement with the city and <br />begin construction of the project this year. <br /> <br />Council Action: <br /> <br />Motion to attthorize execution of' a Contract for Private Development with Anoka County <br />Community Action Program (ACCAP) pending City Attorney approval. <br /> <br />lC> <br /> <br />CC:03.26.02 <br /> <br />-205- <br /> <br /> <br />