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

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C. Statement of Public Purpose. In amending the Development Program and the Plan for TIF District No.1, the City Council intends to make the following findings: 1. Anticipated development would not reasonably be expected to occur solely through private investment within the reasonably foreseeable future; therefore, the use of TIF is deemed necessary; 2. The TIF Plan will afford maximum opportunity, consistent with the sound needs of the City as a whole, for development of the District by private enterprise; and 3. The TIF Plan conforms to general plans for development of the City as a whole. D Development District Program. (AS MODIFIED DECEMBER 13, 1994) The City created Development District No. 1 on August 27, 1985, and modified the Program on June 30, 1986, August 12, 1986, June 9, 1987, August 11, 1987, March 29, 1988, April 26, 1988, July 26, 1988, November 14, 1989, April 24, 1990, July 31, 1990 and March 8, 1994. Concurrent with this action, the City is expanding the boundaries of the Development District and updating the development activities planned or authorized within the District. E. Description of TIF District. TIF District No. 1 was established on August 27, 1985, and its boundaries expanded on August 12, 1986. No additional land is being added to TIF District No.1 at this time. A description of the property within TIF District No.1 was included with the modified Plan adopted on August 12, 1986, and is incorporated herein by reference. F Development District Contracts. The City is negotiating development contracts for site improvements on several properties within TIF District No. 1. Other contracts regarding property within the Development District will be entered into in accordance with Minnesota Statutes, Section 469 .17 6, Subd. 5 of the TIF Act, and no more than 25 percent (by acreage) of the land to be acquired within the Development District will be acquired by the City with bond proceeds without having concluded an agreement for development or redevelopment of the property. G. Classification of TIF District. TIF District No.1, remains classified as a redevelopment TIF District, pursuant to §273.73, Subd. 10(a) (3) of the TIF Act. (AS MODIFIED DECEMBER 13, 2011) TIF District No. 1 remains classified as a redevelopment TIF District, pursuant to Minnesota Statutes, Section 469.174, Subd. 10(a)(1) of the TIF Act. City of Ramsey TIF District No. 1 Modification 2-2