Agenda - Council - 11/24/1998 - Laserfiche WebLink

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CITY OF RAMSEY RESOLUTION NO. cl 8' Il - RESOLUTION APPROVING AN AMENDED AND RESTATED DEVELOPMENT PROGRAM FOR DEVELOPMENT DISTRICT NO. 1 AND AMENDED TAX INCREMENT FINANCING PLANS FOR TAX INCREMENT FINANCING DISTRICTS NO. 1, 2, 4 and 6 BE IT RESOLVED By the City Council of the City of Ramsey, Minnesota (City) as follows: Section 1. Recitals. 1.01. The City previously created its Development District No. 1 (Development District) and a Development Program (Program) therefor, pursuant to Minnesota Statutes, Sections 469.124 through 469.134 (Development District Act). 1.02. Within Development District No. 1, the City has created Tax Increment Financing Districts (TIF Districts) Nos. 1, 2, 4 and 6 and Tax Increment Financing Plans (TIF Plans) therefor, all pursuant to Minnesota Statutes, Sections 469.174 through 469.179 (TIF Act). 1.03. The City has proposed to modify the Development Programs and the TIF Plans, and has caused to be prepared a document entitled "Amended and Restated Development Program for Development District No. 1, and Amended Tax Increment Financing Plans For Redevelopment Tax Increment Financing District Nos. I, 2, 4 and 6, City of Ramsey, Minnesota," dated November 24, 1998. 1.04. The City has submitted the modified Pr6gram and TIF Plans to the City Planning Commission, which has found that they conform to the comprehensive City Plan. 1.05. Estimates of the fiscal and economic implications of the modified TIF Plans were presented to Independent School District No. 11 and to Anoka County at least 30 days before the public hearing on the TIF Plans. 1.06. This City Council has fully reviewed the contents of the modified Program and TIF Plans and on this date conducted a public hearing thereon, at which the views of all interested persons were heard. Section 2. Findings; Development District. 2.01. It is hereby found and determined that within the Development Districts there is a need to improve the tax base and employment opportunities, and to provide an impetus for commercial development. 2.02. It is further found and determined that, since initial establishment of the Development Districts, development and redevelopment needs have changed, requiring expansion of the boundaries of Development District No. 1 to incorporate certain additional area as further described in the modified Program. 2.03. It is further specifically found and determined that: a) 0SJB-153315 RA125-52 the land within the Development District as expanded would not be made available for development without the public intervention and financial assistance described in the modified Program and TIF Plans;