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Councilmcmber i introduced the following resolution and moved for its adoption:
<br />: RESOLUTION #94-12-
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<br />RESOLUTION~APPROVING A MODIFIED DEVELOPMENT PROGRAM FOR
<br />DEVELOPMENT DISTRICT NO. 1 AND A MODIFIED TAX INCREMENT
<br />FINANCING I~LAN FOR TAX INCREMENT FINANCING DISTRICT NO. 1
<br />NOW THEREI~ORE, BE IT RESOLVED BY THE CITY COUNCIL, OF THE
<br />CITY OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows:
<br /> :
<br />Section 1. Re~:itals
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<br /> 1.01. That the City of Ramsey (City) approved the creation of Development District No. 1
<br /> (Development District) and adopted a program (Program) for the Development District in
<br /> accordanc~ with Minnesota Statute, Section 469.124 through 469.134 (Development
<br /> District A{t) on August 27, 1985.
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<br /> 1.02. That the (2ity modified the Program for Development District No. 1 on June 30, 1986,
<br /> August 12t 1986, June 9, 1987, August 11, 1987, March 29, 1988, April 26, 1988, July
<br /> 26, 1988, ~ovember 14, 1989, April 24, 1990, July 31, 1990 and March 8, 1994.
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<br />1.03. That the City established Tax Increment Financing District No. 1 (TIF District) within the
<br /> Developml~nt District on August 27, 1985, and expanded on August 12, 1986, and
<br /> modified tl~e Tax Increment Financing Plan (TIF Plan) therefore on March 29, 1988, all
<br /> pursuant tg Minnesota Statute, Sections 469.174 through 469.179 (TIF Act).
<br />1.04. That the C{ty has determined that it is necessary to modify the Program and the TIF Plan
<br /> and has at~thorized the preparation of the document entitled "Modified Development
<br /> Program, IDevelopment District No. 1, Modified Tax Increment Financing Plan, Tax
<br /> Increment l~inancing District No. 1, City of Ramsey, Minnesota," dated October 21, 1994.
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<br />1.05. That the mgdified Program and Plans were, in accordance with the Development District
<br /> Act and TII~ act (collectively, Acts), referred to the Ramsey Planning Commission, which
<br /> found that they conform to and are not in conflict with the general plan for the development
<br /> of the City as a whole.
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<br />1.06. That copiegof the modified Program and TIF Plans have been forwarded to Independent
<br /> School Disirict No. 11 and to Anoka County along with a notice of the public hearing as
<br /> required by !the Acts.
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<br />1.07. That the Ciiy Council has fully reviewed the contents of the modified Program and TIF
<br /> Plan and hits this date conducted a public hearing thereon at which the views of all
<br /> interested p.~rsons were heard.
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<br />Section 2. Findings; Development District
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<br />2.01. That the City Council finds that the modified Program for Development District No. 1 is
<br /> intended an$, in the judgement of the Council, its effect will be to provide an impetus for
<br /> commercial!and industrial development in the City, increase employment, and otherwise
<br /> promote th~' public purposes and accomplish the objectives as specified in the modified
<br /> Program.
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