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I <br />I <br />I <br /> <br />Jim Norman <br />City of Ramsey <br />15153 Nowthen Blvd. <br />Ramsey 55303 <br /> <br />Dear Mr. Norman: <br /> <br />February 2, 1999 <br /> <br />ACCAP has requested that the City provide tax increment financing assistance to our <br />proposed Ramsey Townhome project. The tax increment assistance will provide for a <br />higher quality, lower density project than would otherwise be possible at the rent levels of <br />$600 and $700 for the two and three bedroom townhomes. <br /> <br />It was recommended by the City EDA that this approval be general and not site specific. <br />We believe that type of approval will be acceptable to our funding sources. <br /> <br />If our request is at any time interpreted to be specific to the 153rd and Highway 47 site for <br />which we have a purchase agreement, we wish tc assure the City that if for any reason the <br />City decides after this approval not to rezone the 153rd and Highway 47 site to multi-family <br />we will not view the tax increment approval as any inclination of the City's approval of the <br />site for multifamily or intent to rezone the property to multi-family. <br /> <br />In other words, if our tax increment request is approved and the site at 153rd and Highway <br />47 is not rezoned by the City or if ACCAP fails to find any other site that is determined by <br />ACCAP and the City to be acceptable, ACCAP will under no circumstances contest the <br />process. ACCAP will not sue the City over this matter regardless of the process or <br />outcome. <br /> <br />I hope this assurance is of assistance. <br /> <br />Sincerely, <br /> <br />JoAnn Wright <br />Housing Development Director <br /> <br />ANOKA COUNTY COMMUNITY ACTION PROGRAM, <br /> 1201 89th Avenue NE Suite 345 Blaine MN 55434 <br /> tele 612-783-4747 fax 612-783-4700 <br /> <br />INC <br /> <br /> <br />