Agenda - Council - 12/13/2011 - Laserfiche WebLink

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4. The City contains vacant, unused, underused and inappropriately used land. Therefore, the City has determined to exercise its authority to develop a program for improving Development District No. 1 to provide impetus for private development and redevelopment, to provide decent housing to residents, to maintain and increase employment, to provide infrastructure to serve citizens and employees of the City, to utilize existing land for potential development and redevelopment and to provide other facilities as are outlined in the Development Program. The City has also determined that proposed developments to be assisted by the City would not occur solely through private investment in the foreseeable future. The City finds that the welfare of the City, as well as the State of Minnesota, requires active promotion, attraction, encouragement and development of economically sound industry and commerce to carry out its stated public purpose objectives. The City has also determined that any tax increment financing plans to be proposed herein will be consistent with the Development Program, and that the tax increment financing plans will afford maximum opportunity, consistent with the sound needs of the as a whole, for the development or redevelopment of Development District No. 1 by private enterprise. E. Statement of Objectives. (AS MODIFIED ON DECEMBER 13, 2011) In addition to all previously adopted purposes and objectives as outlined in the Development Program for Development District No. 1 preceding each TIF Plan approved by the City, the City has determined that it is necessary, desirable and in the public interest to establish, designate, develop and administer the Development District. The City determines that the establishment of Development District No. 1 will provide the City with the ability to achieve certain public purpose objectives not otherwise obtainable in the foreseeable future without City intervention in the normal development process. The City seeks to achieve the following program objectives: The City seeks to achieve the following objectives through the Development Program: 1. Promote and secure the prompt development of property in Development District No. 1 in a manner consistent with the Comprehensive Plan and with minimal adverse impact on the environment, which property is currently less productive because of the lack of proper utilization and lack of investment; thus promoting and securing the development of other land in the City; 2. Promote and secure additional employment opportunities within Development District No. 1, and the City, for residents of the City and the surrounding area, thereby, improving living standards and preventing unemployment and the loss of skilled labor and other human resources in the City; 3. Secure the increase of property subject to taxation by the City, the County, School District, and other taxing jurisdictions in order to better enable such entities to pay for public improvements and governmental services and programs required to be City of Ramsey Development District No. 1 Modification 5