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CITY COUNCIL <br />PUBLIC HEARING <br />CITY OF RAMSEY <br />ANOKA COUNTY <br />STATE OF MINNESOTA <br /> <br />The Ramsey City Council conducted a public hearing on Tuesday, April 24, 1990 at the <br />Ramsey Municipal Center, 15153 Nowthen Blvd. N.W., Ramsey, Minnesota regarding <br />modification of the Development Program for Development District No. 1, modification of <br />the Tax Increment Financing (TIF) Plan for TIF District No. 2, creation of TIF District No. <br />5 within Development District No. 1 and adoption of a TIF Plan for that TIF District No. 5. <br /> <br />Members Present: <br /> <br />Mayor Gary Reimann <br />Councilmember Stephen F. DeLuca <br />Councilmember Richard Cich <br />Councilmember Alan Pearson <br />Councilmember Kenneth Peterson <br /> <br />Also Present: <br /> <br />City Administrator David Hanley <br />City Attorney William Goodrich <br />City Engineer Peter Raatikka <br /> <br />CALL TO ORDER <br /> <br />Mayor Reimann called the public hearing to order at 9:18 p.m. <br /> <br />PRESENTATION <br /> <br />Mr. Hartley stated that the proposal is to establish Tax Increment Financing District No. 5 <br />which falls within Development District No. 1. This district is proposed to be developed <br />with residential housing and includes the extension of sewer and water trunk lines to the <br />area past areas currently developed or undeveloped and not prepared to develop at this time. <br />The developers will pay 100% of the cost that would normally be assessed for the <br />improvements and also pay 100% of the cost of getting utilities to these developments. The <br />proposal is to use mx increment financing to reimburse those developers for getting utilities <br />to the property, which is a cost they actually do not have to pay for. It is a pay as you go <br />plan and the City will not have to sell bonds for the projects. If the City doesfft get any tax <br />increment, the developers don't get paid back; if the City does get tax increment, the <br />develor~ers get paid back for their risk. <br /> <br />In addition, Mr. Hartley stated that the request for a budget amendment to the Tax <br />Increment Financing Plan for Tax Increment Financing District No. 2 is being withdrawn at <br />this time. <br /> <br />CITIZEN INPUT <br /> <br />NOBe. <br /> <br />City Council Public Hearing/April 24, 1990 <br /> Page 1 of 2 <br /> <br /> <br />