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Further Discussion: Mr. Hartley stated that City Staff is concerned with the <br />status of tax increment. There is a proposed tax reform that will affect tax <br />increment that could be adopted in July with the effective date being the date <br />of adoption unless otherwise specified. On that basis, some urgency surrounds <br />Mr. Muller's proposal. <br /> <br />Motion carried. Voting Yes: Mayor Heitman, Councilmembers Sorteberg, Cox, <br />Reimann and Schlueter. Voting No: None. <br /> <br />Request For City Participation (Tax Increment F~ds) In <br /> Flintwood Hills Second Addition; Ca~ Of Mr, Art Raudio: <br /> <br />Mr. Raudio was present. <br /> <br />Mr. Raatikka stated that the estimate for site improvements has been amended <br />from $105,000 to $136,000. <br /> <br />Councilmember Sorteberg expressed concern with how much funds Ramsey is <br />obligating to tax increment assistance. <br /> <br />Councilmember Cox noted that the projection for incoming tax increment revenues <br />is $5,000,000.00; including Mr. Raudio's request, the City would be obligating <br />approximately $1,000,000.00+. <br /> <br />Mayor Heitman inquired if denial of tax increment assistance would negate the <br />development project. <br /> <br />Mr. Raudio replied that the project would be practically impossible to do <br />without tax increment financing. <br /> <br />Ms. Norris noted that Ramsey's Tax Increment Program will have to be amended to <br />allow for tax increment funds being used for site improvements. <br /> <br />Motion by Councilmember Reimann and seconded by Councilmember Cox to adopt <br />Resolution #86-83 approving Mr. Art Raudio's request for tax increment <br />financing assistance in site improvements in Flintwood Hills P.U.D. not to <br />exceed $136,000 and authorizing Staff to seek bids for these improvements. <br />This approval is contingent upon Mr. Raudio entering into a development <br />agreement with the City. (Please refer to resolution file for Resolution #86- <br /> <br />Motion carried. Voting Yes: Mayor Heitman, Councilmembers Sorteberg, Cox, <br />Reimann and Schlueter. Voting No: None. <br /> <br />Motion by Councilmember Cox and seconded by Councilmember Reimann to direct <br />Bond Counsel to amend the City's development program for tax increment <br />financing to include site improvements and costs of site improvements as <br />eligible activities and expenditures for tax increment revenues. <br /> <br />Motion carried. Voting Yes: Mayor Heitman, Councilmembers Sorteberg, Cox, <br />Reimann and Schlueter. Voting No: None. <br /> <br />May 27, 1986 <br /> <br />Page 12 of 18 <br /> <br /> <br />