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

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X. Notification of Prior Planned Improvements (ASAMENDED JULY31, 1990) Pursuant to Section 469.177, Subdivision 4 of the TIF act, the city reviewed its records with regard to the property within TIF District No. 2 and found that no building permits were issued during the 18 months immediately preceding approval of the TIF Plan (or modification thereof) by the City. Y. Assessment Agreements Pursuant to Minnesota Statutes, Section 469.177, Subd. 8 of the TIF Act, the City may, execute an agreement in recordable form, with any person, which establishes a minimum market value of the land and completed improvements for the duration of TIF District No. 2. The assessment agreement shall be presented to the Anoka County Assessor who shall review the plans and specifications for the improvements to be constructed, review the market value previously assigned to the land upon which the improvements are to be constructed and, providing the minimum market value contained in the assessment agreement appears in the judgment of the assessor to be a reasonable estimate, the assessor may certify the minimum market value agreement The assessment agreement shall be filed on record in the office of the Anoka County Recorder or the Registrar of Titles of Anoka County. Recording or filing of an assessment agreement complying with the terms of Minnesota Statutes, Section 469 .177, Subd. 8 of the TIF Act shall constitute notice of the agreement to any subsequent purchaser or encumbrancer of the land or any part thereof, wheter voluntary or involuntary, and shall be binding upon them. Z. Cash Flow Assumptions and Analysis (AS MODIFIED DECEMBER 13, 2011) The cashflow for the TIF District No. 2 is based upon increment received to date and expected through 2012 and actual and estimated interest earnings. City of Ramsey Tax Increment Financing Plan for Tax Increment Financing District No. 2 2-12