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CASE # <br /> <br />PROPOS~;D CREATION OF TAX INCREMENT FINANCING DISTRICT <br />By: Ryan Schroeder, City Administrator <br />and James D. Gromberg, Economic Development Coordinator <br /> <br />Background: <br /> <br />The City of Ramsey has received a request from Anoka Electric Cooperative (AEC) for the <br />extension of Ci~ services to their new faeility to be constructed at the comer of County Road #116 <br />and Ramsey B~ulevard N.W. In the effort to fred these utility improvements in the most <br />economical fashion, the City is reviewing the .possibility of creating a new Tax Increment <br />Financing DistriCt. <br /> <br />As many of yo/p are aware, there have been some fairly significant changes in the effects of <br />creating new clis~ricts. Because of these changes, staff has received a quote for the development of <br />the new district ~'om Wilson Development Services (proposal attached). As the proposal states, <br />the total cost w~uld be $4,500. Staff believes that a majority of this work may be completed in- <br />house and so th~ final cost may be somewhat reduced. <br /> <br />Recommendation: <br /> <br />Adopt a resolu~on authorizing the expenditure of an amount not to exceed $4,500.00 from the <br />Economic Devel~pment Authority Fund. <br /> <br />Council Action: <br />Motion to adop~ Resolution ~)4-04-XX authorizing the City to enter a contract with Wilson <br />Development S~rviees in an amount not to exceed $4,500 for the proposed Tax Increment <br /> <br />q <br /> <br />Reviewed by: <br /> <br />Economic Development Coordinator <br />City Administmt0r <br />Finance Officer , <br /> <br />CC: 04/26/94i <br /> <br /> <br />