Agenda - Council - 05/22/1990 - Laserfiche WebLink

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! ! , MAY 16 '9~ 09:1S' HOLME~ &. GRA"...'EI! STEPHEN J. BUBUL AHorfl¢){ at Law Direct Dial (612) 337-922S HOLMES & GRAVEN CHARTF..,RED 49'0 Pillsbury Cxnter, Mmneapo~i. Minnvsota $5402 (612) 337-9300 May 16, 1990 Mr. David Hartley City of Ramsey 15153 Nowthen Boulevard, NW Ramsey, MN 55303 .. Re: Para Body TIF Project Dear Dave: You asked me to review the findings the City Council needs to make if it wishes to approve the use of tax increment for the Para Body project. · .. This project is located in TIF District No. 2 within Development District No. 1. The TIF District is a redevelopment district approved by the Council on June 30, 1986. The Council made the necessary findings of blight and substandard buildings for the district as a whole when it approved the initial TIF Plan in 1986. Those findings can simply be reaffirmed. . The Para Body project calls for a modification of the TIF. Plan, to increase the budget of TIF expenditures beyond the amounts previously authorized. To approve the Plan modification, the Council must make three important findings: That. the Para Body development would not reasonably be expected to occur solely through private investment within the reasonably foreseeable future and therefore the use .of tax increment financing is necessary; That the TIP Plan, as modified to provide for the Para Body' project, conforms to the general plan for the development of the city as a whole; and That the TIF Plan, as moaified to provide for the Para Body project, will afford the maximum opportunity, consistent with the sound needs of the City"as a whole, for the development of Development District No. I by private enterprise.