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City Funding for the rail station contribution is outlined as follows: <br />TIF 1 - $650,000 <br />TIF 2 - $4,100,000 (Will need to set up an interfund loan from Landfill Fund for TIF Increment from 2012 & 2013) <br />This removes TIF funding for the McKinley Street Project near Commercial Asphalt <br />As it relates to the transit taxing district, there is currently about $40,000 per month ($480,000 per year) that gets <br />spent on the Ramsey Star Express bus service. This money is being generated from the Landfill Trust fund and not <br />the general fund. Entering into the transit taxing district impacts the average Ramsey property owners about $3 0 <br />annually and generates approximately $295,000 per year. <br />Maintaining a balance in the Landfill Trust fund, by eliminating the $480,000 per year expenditure for the bus, will <br />allow the City to do a one-time offset of the Municipal Center debt of $300,000 in fiscal year 2013. This will <br />be when property owners will see their first payment for the transit taxing district reflected on tax statements. This <br />decision will be formalized during the 2013 budget cycle. The projected balance at the end of 2012 is $1.9 million. <br />Council Action: <br />Motion to approve the attached Master Cooperation, Funding and Delegation Agreement for the Ramsey Rail <br />Station. <br />and <br />Motion to enter into the transit taxing district for fiscal year 2013. <br />Ltr re Metro Transit Services Update <br />taxing district agreement <br />Anoka lease agreement <br />Master Cooperation Agreement 092211 Revised <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich Kurt Ulrich 12/08/2011 03:15 PM <br />Form Started By: Brian Olson Started On: 12/05/2011 <br />Final Approval Date: 12/08/2011 <br />