Laserfiche WebLink
I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />CASE <br /> <br />MODIFICATION OF DEVELOPMENT PROGRAM FOR DEVELOPMENT <br />DISTRICT NO. I AND MODIFICATION OF TAX INCREMENT <br />FINANCING PLAN FOR TAX INCREMENT FINANCING <br /> DISTRICT NO. 2 <br /> By: David R. Hartley, City Administrator <br /> <br />Background: <br /> <br />Earlier this month, the City Council indicated a willingness to proceed with a tax increment <br />financing project for ParaBody, Inc. Additionally, the City of Ramsey is currently <br />involved in the authorization and sale of tax exempt industrial revenue bonds for ParaBody, <br />Inc. <br /> <br />In order to implement the tax increment project which will consist of sanitary sewer <br />extension, water main extension, lighting fixtures and landscape and restoration. It is <br />necessary to order the preparation of modification of the development program for <br />Development District No. 1 and modification of the tax increment financing plan for Tax <br />Increment Financing District No. 2. Also, the City Council must establish a date to hold <br />the public hearing related to these amendments. It is suggested at this time that the date be <br />July 31, 1990 at 5:00 p.m. This date assumes that the Anoka County and school district <br />will waive their 30 day review period. If however, the school district or the County choose <br />to not waive that review period, the hearing date will have to be postponed. <br /> <br />Also considered in this amendment to the Development District and Tax Increment District <br />is the inclusion of the cost of extending McKinley Street N.W. from Sunfish Lake <br />Boulevard N.W. to the eastern corporate limits of the City of Ramsey. <br /> <br />Council Action: <br /> <br />Motion to adopt Resolution g90-07- calling for a public hearing on the modification of <br />the development program for Development District No. 1 and modification of tax increment <br />financing plan for Tax Increment Financing District No. 2. <br /> <br />Review Checklist: <br /> <br />City Administrator <br />City Attorney <br />City Engineer <br />Community Development Director <br />Public Works Supervisor <br /> <br />X <br /> <br />Chief of Police <br />Finance Officer <br />Planning & Zoning Commission <br />Park & Recreation Commission <br />Other <br /> <br /> <br />