Agenda - Council - 02/14/1989 - Laserfiche WebLink

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C~%'~ 01~ i~,Y£EY TAX INCREF~ENT FINANCING GUIDELINE STATEMENT OF POLICY July 1 95? Section ]. Purreze. In order to provide a framework iu which the City of Ramsey may review reques~ from developers for ~ (~ s~is:auce, the City Council ~eek~ to ~dopt TIF guidelines. It iz :he purpose cf the guideliue~ to state in general terms the pe!icie~ of :he City regarding TIF a~i~tance for private development, including the type of development the City wi~he~ :o encourage, the location of ~uch deve!cpment and the type~ of assistance which the City i~ inclined to support. Section 2. Criteria for lva!uaticn of Reeuest for TIF ~. The following criteria ~hall be utilized by the City Council in evaluating requests for TIF assistance: A. Location of Development. The City shall be classified into the following six areas: Residential Commercial/Industrial Rural - without 0% 25% utilities Urban - without 15% 40% utilities Urban - with 45% 70% utilities The above figures represent the percentage of the increment produced by a property within the designated area which may be made available fcr assistance to that site. it is the intent of the City that each parcel for which TIF assistance is requested "pay for itself" by generating increment greater than the amount of requested assistance, increment generated in excess of the above figures would be available for public improve- monte of benefit to the TiP District or Development Dis- trict as a whole. Number of Jobs Created. in recognition of the goals of the Municipal Developmeut District Act and Tax increment Financing Act that jobs be created cr preserved through TI.r, it is the policy of the City to favor labor- intensive developmeuts over those seeking a similar amount of assistance but providing fewer jobs. Although construction jobs are of significance im this regard, it is the number of full-time or part-time permanent jobs in which the City is predominazt!y interested.