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12/06/94
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12/06/94
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Creation date
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Meetings
Meeting Document Type
Agenda
Document Title
Planning and Zoning Commission
Document Date
12/06/1994
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1, The original tax capacity of TIF District No. 1; <br /> <br />o <br /> <br />The captured assessed value of TIF District No. 1, including the amount of any <br />captured assessed value shared with other taxing districts; <br /> <br />The outstanding principal amount of bonds issued or other loans incurred to finance <br />project costs in TIF District No. 1; <br /> <br />For the reporting per/od and for the duration of TIF District No. 1, the amount <br />budgeted under the TIF Plan and the actual amount expended for the following <br />categories: <br /> <br />a) acquisition of land and buildings through condemnation or purchase; <br /> <br />b) site improvement or preparation costs; <br /> <br />c) installation of public utilities or other public improvements; and <br /> <br />d) administrative costs, including the allocated cost of the City. <br /> <br />For properties sold to developers, the total cost of the property to the City and the <br />price paid by the developer;, and <br /> <br />The amount of tax exempt obligations, other than those reported under clause (3), <br />which were issued on behalf of private entities for facilities located in TIF District <br />No, 1. <br /> <br />X. Notification of Prior Planned Improvements. <br /> <br /> Pursuant to §469.177, Subd. 4 of the TIF Act, the City has reviewed its records with <br />regard to the properties to be added to TIF District No. t and has found no properties for which <br />building permits have been issued during the 18-months immediately preceding approval of the <br />TIF Plan by the City. If a building permit is issued within the 18 month period, preceding <br />approval of the TIF Plan by the City, the county auditor is authorized and required to increase the <br />original assessed value of TIF District No. 1 by the assessed valuation of the improvements for <br />which the building permit was issued, excluding the assessed valuation of improvements for which <br />a building permit was issued dur/ng the three-month per/od immediately preceding approval of the <br />TIF Plan by the City. <br /> <br />Y. Assessment Agreements. <br /> <br /> Pursuant to §469.177, Subd. 8 of the TIF Act, the City ma5', execute an agreement in <br />recordable form, with any person, which establishes a minimum market value of the land and <br />completed improvements for the duration of TIF District No. 1. The assessment agreement shall <br />be presented to the Anoka County Assessor who shall review the plans and specifications for the <br />improvements to be constructed, review the market value previously assigned to the land upon <br />which the improvements are to be constructed and, providing the minimum market value contained <br />in the assessment agreement appears in the judgment of the assessor to be a reasonable estimate, <br />the assessor may certify the minimum market value agreement. <br /> <br /> Any assessment agreement shall be filed on record in the office of the Anoka County <br />Recorder or the Registrar of Titles of Anoka Count>,. Recording or filing of an assessment <br />a~eement complying with the terms of §469.177, Sub& 8 of the TIF Act shall constitute notice of <br />the a~eement to any subsequent purchaser or encumbrancer of the land, or any part thereof, <br /> <br />14 <br /> <br /> <br />
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