|
Public Notice
<br />City of Ramsey
<br />Annual Disclosure of Tax Increment Districts for the Year
<br />Ended December 31, 2005
<br /> The city of Ramsey is required to publish the status of its Tax Increment Financing Districts. For additional infor-
<br />mation regarding each district, please contact Sean Sullivan, Economic Development Coordinator, at 763-433-9829.
<br />TIF
<br />TIF District TIF TIF TIF TIF TIF TIF TIF
<br />District 10
<br />Name:District 1District 2District 4District 6District 7District 8District 9
<br />6XQ¿VK
<br />Rivers GatewayFront Energy B & B, AMCORACCAP
<br />Lake
<br />BendStreeParkLLC
<br />t
<br />49,600
<br />Current Net Tax 776,5691,470,473267,370495,73050,920160,64848,650
<br />Capacity
<br />4,374
<br />Original Net Tax 20,079170,26840,52019,06510,12218,4912,954
<br />Capacity
<br />45,226
<br />Captured Net 756,4901,300,205226,850476,66540,798142,15745,696
<br />Tax Capacity
<br />Principal and In-
<br />0
<br />terest Payments 631,254394,7580331,90623,000285,58737,074
<br />due during cur-
<br />rent year
<br />229,132
<br />Tax Increment 763,3531,226,657235,524464,75633,954168,74244,650
<br />Received
<br />81,007
<br />Tax Increment 1,377,1681,131,13457,681348,34623,502300,25437,074
<br />Expended
<br />July 2004
<br />Month and Year July 1986July 1988July 1989July 1997July 2002July 2003July 2004
<br />of First Tax In-
<br />crement Receipt
<br />12/31/2011
<br />Date of Re-12/31/201112/31/201212/31/201309/02/200612/31/201512/31/202812/31/2029
<br />TXLUHG'HFHUWL¿
<br />cation
<br />0
<br />Increased Prop-158,54827,55171,762023,5400
<br />12,823
<br />erty Tax Im-
<br />posed on Other
<br />Properties as a
<br />Result of Fiscal
<br />Disparities Con-
<br />tribution*
<br />
<br />7KH¿VFDOGLVSDULW\SURSHUW\WD[ODZSURYLGHVWKDWWKHJURZWKLQFRPPHUFLDOLQGXVWULDOSURSHUW\WD[YDOXHVLVVKDUHG
<br />WKURXJKRXWWKHDUHD,QDWD[LQFUHPHQW¿QDQFLQJGLVWULFWWKLVYDOXHFDQHLWKHUUHVXOWLQDWD[LQFUHDVHIRURWKHUSURSHUWLHV
<br />LQWKHPXQLFLSDOLW\RUUHVXOWLQDGHFUHDVHLQWD[LQFUHPHQW¿QDQFLQJGLVWULFWUHYHQXHGHSHQGLQJRQKRZWKHWD[LQFUHPHQW
<br />district is established.
<br />Tax Increment Financing Districts #1, #2, #4, #6 and #8, located in the City of Ramsey do not share their growth in com-
<br />mercial-industrial property tax values. This results in an increase in property taxes for other properties located in the
<br />city of Ramsey. For taxes payable in 2005, this increase on other properties amounted to $294,224 ($12,823, $158,548,
<br />$27,551, $71,762 and $23,540) respectively, for Tax Increment Financing Districts #1, #2, #4, #6 and #8.
<br /> www.ci.ramsey.mn.us
<br />14
<br />
|