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CASE #6 <br /> <br /> PROPOSED CREATION OF TAX INCREMENT <br /> FINANCING DISTRICT NUMBER 6 <br /> By: Ryan Schroeder, City Administrator and <br />James Gromberg, Economic Development Coordinator <br /> <br />Background: <br /> <br />With the constn!ction of the Anoka Electric Cooperative (AEC) headquarters and service center <br />facility, the City~ Council will be conducting a public hearing on September 12, 1995, to create a <br />new Tax Increment Financing (TI_F) District. This new district (No. 6) will include the AEC <br />facility and surrCunding Energy Park. This district will allow for the capture of increment from <br />this area to pay for required infrastructure extensions and required improvements such as water <br />towers, wells, etc. <br /> <br />State law requiros that the creation of this district be in compliance with the comprehensive plan of <br />the City. The ,.Planning Commission has previously recommended plat approval of this <br />development and it was found to be in compliance with the comprehensive plan. Therefore, it is <br />requested that the Commission make the following motion: <br /> <br />That the Ramsey Planning Commission has reviewed the modified development program for <br />Development D~trict No. 1, and the Tax Increment Financing Plan for Tax Increment Financing <br />District No. 6 and determined that it is in compliance with the Comprehensive Plan for the City of <br />Ramsey. <br /> <br />Included for your review is a copy of the proposed Development Program for Development District <br />No. 1 and Tax Increment Financing Plan for Tax Increment Financing District No. 6. <br /> <br />Commission Action: <br /> <br />Motion by Commissioner. and seconded by Commissioner that the <br />Ramsey Planning Commission has reviewed the modified development program for Development <br />District No. 1, and the Tax Increment Financing Plan for Tax Increment Financing District No. 6 <br />and determined that it is in compliance with the Comprehensive Plan for the City of Ramsey. <br /> <br />Reviewed by: <br /> <br />City Administrator <br />Economic Development Coordinator <br /> <br />PC:09-05-95 <br /> <br />/ccr <br /> <br /> <br />