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I <br /> I <br /> I <br />I <br />I <br /> <br />I <br />I <br />I <br /> <br />CASE <br /> <br />PUBLIC HEARING: AMENDMENT TO THE TAX INCREMENT FINANCING <br />PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 2 WITHIN <br />DEVELOPMENT DISTRICT NO. i <br /> <br />By: James E. Norman, City Administrator <br />By: Sean Sullivan, TIF Specialist <br /> <br />Background: <br /> <br />Staff has been working with the Financial Consulting firm of Juran Moody to prepare a <br />modification to the TIF plan for TIF District No. 2. This plan was amended December <br />12, 2000. Project costs in relation to the Sharp Sunfish Gateway development have been <br />finalized and the budget for this Project needs to be modified. <br /> <br />Minnesota Statues, Section 469.175, Subdivision 2, requires that the City present its <br />estimate of fiscal and economical implication of the proposed Tax Increment Financing <br />Plan to the School District and County at least 30 days before the scheduling of a public <br />hearing. The statutory requirements were fulfilled. <br /> <br />Attached to this case is a map showing where TIF District No. 2 exists and where the <br />project area is in relation to other TIF Districts within the City of Ramsey. <br /> <br />Recommendation: <br /> <br />Staff recommends the Council approve the modification to TIF District No. 2 as outlined <br />in the Amended Tax Increment Financing Plan. <br /> <br />Council Action: )~ <br />Motion to recommend Council Adopt Resolution #01-04- approving the <br />modification to the Development program for Development District No. 1 and approving <br />the amendment to the Tax Increment Financing Plan for Tax Increment Financing District <br />No. 2 within Development District No. 1. <br /> <br />Reviewed by: <br />City Administa'ator <br />TIF Specialist <br /> <br />CC: 04/24/2001 <br /> <br />-89- <br /> <br /> <br />