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I <br />I <br />I <br />I <br />I <br />I <br /> <br /> CASE # / <br /> <br /> PUBLIC HEARING ON THE PROPOSED MODIFICATION OF <br /> DEVELOPMENT DISTRICT NO. I AND MODIFICATION TAX <br /> INCREMENT FINANCING DISTRICT NO. 6 <br /> By: Ryan Schroeder, City Administrator <br /> James Gromberg, Economic Development Coordinator <br /> <br />Notification: <br /> <br />In addition to the publication of the public hearing notice in the Anoka County Union, both <br />the Anoka-Hennepin Independent School District Number 11 and Anoka County have been <br />notified concerning the proposed modification of the District. <br /> <br />Background: <br /> <br />The City of Ramsey, with the construction of the Anoka Electric Cooperative (AEC) <br />Headquarters, created Tax Increment Financing District No. 6 and enlarged Development <br />District No. 1 to accommodate this industrial development. With the Vision Ease Lens site <br />plan on your agenda this evening, the City now has a better picture of the increment to be <br />generated and the infrastructure required for the industrial park. <br /> <br />Based upon these new projections, the City has developed the attached modified <br />Development Plan and Financing Plan for District No. 6. The Planning Conmnission <br />reviewed the proposed modification at their August 6 meeting, and found it to be in <br />compliance with the Comprehensive Plan for the City of Ramsey. <br /> <br />The proposed plan has been forwarded to both the School District and Anoka County and <br />no negative comments have been received. The proposed amendments will not change the <br />amount of increment received from the District, but will provide a better picture of the <br />extent of that increment and how it n-my be spent within the district. <br /> <br />Attached for your review is a copy of the proposed Development Program for Development <br />District No. 1 and a modified Tax Increment Financing Plan for Tax Increment Financing <br />District No. 6. In addition, a copy of the public hearing notice is also included. <br /> <br />/ <br /> <br />I <br />I <br />I <br />I <br /> <br />Council Action: <br />Motion to adopt Resolution 96-08- I g/~ approving the proposed modification of the <br />Development Program for Development District No. 1 and a modified Tax Increment <br />Financing Plan for Tax Increment Financing District No. 6. <br /> <br />Reviewed by: <br /> <br />Copies also distributed to: <br /> <br />City Administrator <br />Economic Development Coordinator <br /> <br />CC: 0[{I13/96 <br /> <br /> <br />