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the landfill with a plan with that will raise the value of their property so <br />much that they will be forced to try and sell their property, a sale which will <br />be hampered by the landfill coming closer and closer. <br /> <br />Mayor Reimann called for a show of hands from industrial area property owners <br />present. Nine persons responded. <br /> <br />Mayor Reimann called for a show of hands from those property owners present <br />that are in favor of the sewer and water project. Two persons responded. <br /> <br />Mayor Reimann called for a show of hands from those property owners who would <br />favor either Option A or Option B or a combination of A and B. Nobody <br />responded to A or B, but 3 persons responded to a combination of A and B. <br /> <br />Steve Gorecki stated that the overriding factor is that there is a lot of <br />opposition to the project. Council should be asking if property owners are in <br />favor of the project, not which financing option they prefer. <br /> <br />Mayor Reimann stated that the poll he just conducted reflects the opposition. <br /> <br />Councilmember DeLuca stated that with Option B the property owners do not pay <br />anything until they request and connect to the services; what is the objection <br />to this option? <br /> <br />Marv Eggum stated that somewhere there has to be an accrued interest ticket <br />running; the city may be paying it up front, but in the end that interest <br />ticked is added to the property owners cost at a later date. <br /> <br />Councilmember DeLuca stated that Chapter 444 allows the city to use Option B to <br />be the financer of a project and tax increment dollars are used to pay for the <br />project so that there actually isn't that interest accruing. <br /> <br />Mary Eggum replied that somebody is paying the ticket; other taxing agencies <br />are picking up the tab until the tax increment district is complete and they <br />begin to receive their alloted share of the taxes again. <br /> <br />Mr. Hartley noted that there are millions of dollars worth of tax increment <br />projects going on in other communities in the County and in effect, Ramsey is <br />helping to pick up the interest tab on those projects. <br /> <br />Councilmember Cox stated that Ramsey is trying to see that existing businesses <br />and prospective businesses have the same opportunities in Ramsey as they do in <br />other communities. <br /> <br />Marv Eggum stated that he is concerned with the rise in property taxes that <br />will result because of the availability of municipal services. <br /> <br />Councilmember Cox replied that market valuations will increase because of the <br />availability of services, but that doesn't necessarily mean that property taxes <br />will increase. It is possible that the added incoming tax revenue resulting <br />from the economic development growth caused by the availability of services <br />will help to keep the mill rate at a constant level and still maintain the <br />city's budget. <br /> Sp Council/12-2-86 <br /> <br />Page 11 of 13 <br /> <br /> <br />