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CC Regular Session <br />Meeting Date: 02/14/2012 <br />By: Aaron Backman, Administrative <br />Services <br />Information <br />Title: <br />Adopt Resolution #12-02-XXX Decertifying Tax Increment Financing District No. 1 <br />4. 10. <br />Background: <br />Tax Increment Financing (TIF) District No. 1 (also known as Rivers Bend District) is a redevelopment district <br />created in 1985. At the regular December 13, 2011 meeting the Ramsey City Council approved modifications to <br />increase the budget to reflect actual increment collected to date and restated the use of funds to bring it into <br />conformance with Office of State Auditor (OSA) compliance. The term of TIF District 1 expired on December 31, <br />2011. Therefore, the City Council needs to adopt a resolution that formally certifies TIF District 1. <br />Recommendation: <br />Staff recommends Adopting the Resolution Decertifying Tax Increment Financing District No. 1. <br />Council Action: <br />Adopt Resolution Decertifying Tax Increment Financing District No. 1 and Returning Excess Tax Increments to <br />Other Taxing Jurisdictions <br />TIF Dist. 1 Decert. Resolution <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich Kurt Ulrich 02/09/2012 02:50 PM <br />Form Started By: Aaron Backman Started On: 02/08/2012 08:03 AM <br />Final Approval Date: 02/09/2012 <br />