Agenda - Council - 09/05/1990 - Special

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Councilmember. introduced the following resolution and moved for its adoption: RESOLUTION #90-09- RESOLUTION ENTERING INTO A CONTRACT FOR PRIVATE DEVELOPMENT OF IMPROVEMENTS FOR DEVELOPMENT DISTRICT NUMBER 1 AND TAX INCREMENT FINANCING DISTRICT NUMBER 2 WITH RAMSEY INVESTMENTS WHEREAS, the City has created and established Development District No. 1 ("District") and Tax Increment Financing District No. 2 CTIF District") pursuant to the authority granted in Minnesota Statutes, Sections 469.124 through 469.134 and Sections 469.174 through 469.179; (collectively, "the Acts"); and WHEREAS, pursuant to the Acts, the City has adopted a development district program ("Program") and a tax increment financing Plan CTIF Plan") to finance all or a portion of the public development costs of the District; and WHEREAS, in order to achieve the objectives of the Program and TIF Plan as defined and particularly to make land in the District available for development by private enterprise for and in accordance with the Program, the City has determined to provide substantial aid and assistance through the sale of bonds and other obligations to finance public development costs in the District; and WHEREAS, the Developers have proposed a development within Development District No.1 which the City has determined will promote and carry out the objectives for which development in the District has been undertaken, will assist in carrying out the obligations of the Program and TIF Plan, will be in the vital best interests of the City and the health, safety, morals and welfare of its residents, an//is in accord with the public purposes and provisions of the applicable state and local laws and requirements under which development in the District has been undertaken and is being assisted NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: 1) That the Mayor and City Administrator are hereby authorized and directed to enter into a contract with Ramsey Investments in the name of the City of Ramsey for the site improvements listed in the development program approved by the Ramsey City Council on April 24, 1990. The motion for the adoption of the foregoing resolution was duly seconded by Councilmember and upon vote being taken thereon, the following voted in favor thereof: and the following voted against the same: and the following abstained: and the following were absent: whereupon said resolution was declared duly passed and adopted by the Ramsey City Council this the 5th day of September, 1990. ATTEST: Mayor City Administrator