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AMENDMENT TO <br /> By: <br /> <br /> Cas[~ <br /> <br />DEVELOPMENT DISTRICT #1 DEVELOPMENT PLAN <br />David R. Hartley, City Administrator <br /> <br />#1: <br /> <br />Background: <br /> <br />Over the past two years, the City of Ramsey has participated in encouraging development within <br />our communily by the use of Tax Increment Financing. The projects have been relatively small <br />and the public investment slight compared to the private investment in our community. <br />Consequenlly, it has nol been feasible to establish long-term definitive financing for these <br />projects until now. <br /> <br />We are now in the process of preparing to sell bonds to finance Tax Increment participation and <br />sewer and water expansion to Front Street N.W., Ramsey Terrace Apartments site <br />improvements, Anoka-Ramsey Sport Center site improvements, and park improvements to <br />River's Bend. At this time, what is necessary for the Planning and Zoning Commission to review <br />and approve is an amendment to the development district, development plan, and budget to <br />reflect the exact amounts (rather than estimated amounts) to be financed. <br /> <br />Due to market conditions and the need to close on bonds before the year-end, it is imperative <br />that the Planning and Zoning Commission act on this matter at its meeting of November 6, 1989. <br /> <br />Commission Action: <br /> <br />Motion to adopt resolution recommending approval of Amendments to the Development Plan for <br />Development District #1. <br /> <br />Review Checklist: <br /> <br />City Administrator <br />City Attorney <br />City Engineer <br />Community Development Director <br /> <br />/jmt <br /> <br />Chief of Police <br />Finance Officer <br />Planning & Zoning Comm. <br />Park & Recreation Comm. <br /> <br /> <br />