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

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I Statement of Public Facilities and Costs to be Financed. (AS MODIFIED DECEMBER 14, 2010) The additional costs eligible to be incurred by the City, directly or indirectly, in carrying out the Development Program, as modified are amended to include the Public Costs set forth in the Tax Increment Financing Plan for Tax Increment Financing (Redevelopment) District No. 14. (AS MODIFIED DECEMBER 13, 2011) Public facilities to be financed and associated costs prior to this modification are outlined in the Development Program for Development District No. 1 which precedes each TIF District plan approved by the City. The preceding objectives will be promoted by providing improvements and opportunities within Development District No. 1 which may include various types of site improvements, land and easement acquisition, redevelopment, demolition, parking, street, sewer, water, commuter rail stop along the North Star Corridor, municipal parking ramp and other public improvements. The additional costs eligible to be incurred by the City, directly or indirectly, in carrying out the Development Program, as modified are amended to include the Public Costs set forth in the Tax Increment Financing Plans for the Tax Increment Financing Districts created within Development District No. 1. J. Funding of Development and Redevelopments (AS MODIFIED DECEMBER 13, 2011) Funding of development and redevelopment and associated costs prior to this modification are outlined in the Development Program for Development District No. 1 which precedes each TIF District plan approved by the City. To implement the established objectives, the City plans to utilize a number of public and private financing tools. Funding of the necessary activities and improvements in Development District No. 1 is expected to be accomplished through, and is not limited to, tax increment financing, special assessments, state aid for road construction, proceeds from the sale of property, and federal and state grants. Any public facilities within Development District No. 1 will be financially feasible and compatible with longer range development plans. Any acquisition of property for the public improvements will be done to provide the impetus for private development within Development District No. 1. K. Relocation. Any person or business that is displaced as a result of Development District No. 1 will be relocated in accordance with Minnesota Statutes, Section 117.50 to 117.56. The City accepts its responsibility for providing for relocation assistance pursuant to the Enabling Act. City of Ramsey Development District No. 1 Modification 7