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12/06/94
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12/06/94
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Meetings
Meeting Document Type
Agenda
Document Title
Planning and Zoning Commission
Document Date
12/06/1994
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G. Proposed Reuse of Property. <br /> <br /> Acquisition of private property within Development Distr/ct No. 1 is contemplated for <br />right-of-way purposes in connection with Front Street improvements within TIF District No. 4, <br />and in connection with street and utility improvements within TIF District No. 2. <br /> <br /> Proposals for the use of property acquired by the City must be consistent with <br />Development Program objectives and be financially feasible. Prior to acquisition of an3, property <br />for reuse by a private developer, the City Council will require a development contract and other <br />guarantees to ensure that sufficient tax increment or other funds will be available to repay the cost <br />associated with the proposed acquisition. It is the intent of the City to negotiate for the acquisition <br />of property whenever possible, but the City will use its powers of eminent domain to acquire <br />property if required. Appropriate restrictions regarding the reuse and redevelopment of property <br />shall be incorporated into an), development contract to which the City is a party. <br /> <br />H. Development District Financing. <br /> <br /> Within Development District No. 1, the City has created TIF District No. 1, TIF District <br />No. 2, TIF District No. 4 and TIF District No. 5. The City ma>, create additional TIF Districts to <br />finance development activities within the Development District. <br /> <br /> Water and sewer, water tower and well costs which have been, or will be, incurred in TIF <br />District No. 2, as well as the cost of site improvements within TIF District No. 2, will be paid <br />through the pledge of tax increment from TIF District Nos. 1 and 2. In addition, users will be <br />charged for connecting to the system and will pay usual fees and charges associated with usage. <br /> <br /> Site and park improvements in TIF District No. 1 will be paid through tax increment and, <br />in the case of Flintwood Hills, through special assessments. <br /> <br /> Commercial site improvements within TIF District. No. 4 will be paid through tax <br />increment. Front Street improvement costs will be paid through tax increment, special <br />assessments, storm water district taxes, and grant monies. <br /> <br /> Utility costs within TIF District No. 5 wiI1 be paid through tax increment and special <br />assessments. Commercial site improvements and street and utili~, construction within T~ District <br />No. 2 will be paid through tax increment. <br /> <br /> Utility and street construction costs within TIF District No. 2 will be paid by tax increment <br />and special assessment funds. <br /> <br /> The utility extension costs for the Anoka Electric Cooperative site will be paid by increment <br />from any combination of TIF Districts No. 1, 2 and 4 and by special assessments. In addition, <br />users wi~I1 be charged for connecting to the system and will pay usual fees and charges associated <br />with usage. <br /> <br />I. Relocation. <br /> <br /> The City anticipates that no relocation will be necessary but accepts responsibility for <br />providing for relocation pursuant to §469.133 of the Act. If relocation is necessary, provisions <br />will be made in accordance with M.S. § 117.50 through § 117.56, inclusive. <br /> <br /> <br />
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