Agenda - Council - 12/10/1996 - Laserfiche WebLink

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I I I I I I I I I I I I I I I I I I F. Public ~Facilities to be Constructed. Public facilities constructed within the Development District will be financially feasible and compatible withi the City's long range development plans. Public improvements constructed or proposed within Development District No. 1 include ponding for storm water management, soil correction, landscaping, fencing, security lighting, site grading streets, a well, a water storage facility, extensicb of water and sanitary sewer to an area designated for industrial use and to an area designated ~or residential use, street, sewer and water improvements along Front Street and within TIF District No. 2, and park improvements. The extension of public facilities and. site improvements v,~ill include the area to be comprised of the Sunfish Square Addition and the area identified as the Anoka Electric Cooperative and concrete property site. G. Proposed Reuse of Property. Acquisition of private property within Development District No. 1 is contemplated for right-of-way purdaoses in connection with Front Street improvements within TI:F District No. 4, and in connectio~ with street and utility improvements within TIF District No. 2. The City will also be extendir~g City services and providing for the construction of roadways to serve the development inTI~ District No. 6 and No. 7. Proposals for the use of property acquired by the City must be consistent with Development PrOgram objectives and be financially feasible. Prior to acquisition of any property for reuse by a p~,'vate developer, the City Council will require a development contract and other guarantees to ensue that sufficient tax increment or other funds will be available to repay the cost associated with t~e proposed acquisition. It is the intent of the City to negotiate for the acquisition of property whe~!ever possible~ but the City will use its powers of eminent domain to acquire property if requ~ed. Appropriate restrictions regarding the reuse and redevelopment of property shall be incorpor'4ted into any development contract to which the City is a party. H. Development District Financing. Within D~.velopment District No. I, the City has created TIF District Nos. 1 through 6 and at this time is crewing TIF District No. 7. The City may create additional TIF Districts to finance development activities within the Development District. Water and sewer, water tower and well costs which have been, or w/il be, incurred in ~ District No. 2, as~ well as the cost of site improvements within TIF District No. 2, will be paid through the pledge of tax increment from ~ District Nos. 1 and 2. In addition, users will be charged for connecting to the system and will pay the usual fees and charges associated with usage. Site and park improvements in TIF D/strict No. 1 will be paid through tax increment and, in the case of Flintwood Hills, through special assessments. Commercifil site improvements within TIF District No. 4 will be paid through tax increment. Fror/t Street improvement costs will be paid through tax increment, special assessments, storm water district taxes, and grant monies. Utility costs within T[F District No. 5 will be paid through tax increment and special assessments. Cormnercial site improvements and street and utility construction within TIF District No. 2 will be paid ~rough tax increment. 6