Minutes - Council - 08/12/1986 - Laserfiche WebLink

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has done a market analysis to make sure the City isn't literally taking land away from the owners by imposing assessments and taxes that cannot be afforded. Councilmember Cox stated that the only comment heard by Council thus far is that the property would be more marketable if serviced with public utilities. Mr. Eggum inquired if those property owners realized that the total cost to develop property in the industrial area will be $35,000/acre? Councilmember Cox stated that property owners are requesting sewer and water and are willing to pay for it; there is also progress being made with the Rum River Bridge crossing and this should make the property even more marketable. Councilmember Reimann inquired if the project could be stopped if bids come in too high making the project unfeasible. Mr. Hartley stated that the project is not ordered until Council enters into a construction contract. Mr. Hartley noted that through tax increment financing, this project will provide utilities at the lowest rate that will ever be seen. Mr. Eggum stated that providing 50% of the water main costs is a minor portion of what property owners will have to do to get that property fully marketable. Mr. Eggum inquired if there is a possibility of the City purchasing the land. Councilmember Cox stated that the intent of this project was to get the major pipe into the city without causing a real burden on anybody. Acting Mayor Reimann stated that it has been past city policy not to impose improvements; can Ramsey 67 be deleted from the assessments? Councilmember Cox stated that Council has to look at the benefit to the area as a whole and not base decisions on one particular property. Mr. Hartley noted that Ramsey 67's public hearing notice was sent to the address on record; seems that address was not the current address. Councilmember Cox stated that the city should meet with owners of major open land parcels and discuss ways to alleviate the pressure on them. Mr. Eggum inquired as to the absorption rate in Ramsey for industrial property. Acting Mayor Reimann stated that the absorption rate is unknown because Ramsey has not had utilities in the commercial/industrial area. Mr. Jack Ippel stated that there is the possibility of requesting tax increment financing to assist in the cost of site prepartion after utilities are in. Councilmember Cox amended his motion to include that options be reviewed to reduce, minimize or defer assessments to Ramsey 67. Councilmember Sorteberg seconded the amendment. Motion carried. Voting Yes: Acting Mayor Reimann, Councilmembers Sorteberg, Cox and Schlueter. Voting No: None. Motion by Councilmember Cox and seconded by Councilmember Sorteberg to adopt Resolution #86-119 amending Tax Increment District No. 1 in the City of Ramsey. (Please refer to resolution file for Resolution #86-119~) Motion carried. Voting Yes: Acting Mayor Reimann, Councilmembers Sorteberg, Cox and Schlueter. Motion by Councilmember Sorteberg and seconded by Councilmember Cox to authorize the Mayor and City Administrator to execute an agreement between the City of Ramsey and Springsted, Inc. for financial consulting services. Motion carried. Voting Yes: Acting Mayor Reimann, Councilmembers Sorteberg, Cox and Schlueter. Voting No: None. August 12, 1986 Page 6 of 14