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The City reserves the right to finance any or all public costs of the TIF District using pay -as- you -go assistance,
<br />internal funding, general obligation or revenue debt, or any other financing mechanism authorized by law. The
<br />City also reserves the right to use other sources of revenue legally applicable to the Project Area to pay for such
<br />costs including, but not limited to, special assessments, utility revenues, federal or state funds, and investment
<br />income.
<br />(AS MODIFIED JANUARY 25, 2011)
<br />The City anticipates using future tax increments for reimbursement of public costs incurred from Section K. As
<br />increments are collected from the TIF District in future years, a portion of these taxes will be reserved by the
<br />City as reimbursement for public costs incurred (primarily land acquisition), either through internal funding or
<br />general obligation or revenue debt. The City also anticipates providing financial assistance to the proposed
<br />developments through the use of a pay -as- you -go technique. As tax increments are collected from the TIF
<br />District in future years, a portion of these taxes will be distributed to the developer /owner as reimbursement for
<br />public costs incurred that relate to redevelopment of the project site.
<br />The City reserves the right to finance any or all public costs of the TIF District using pay -as- you -go assistance,
<br />internal funding, general obligation or revenue debt, or any other financing mechanism authorized by law. The
<br />City also reserves the right to use other sources of revenue legally applicable to the Project Area to pay for such
<br />costs including, but not limited to, special assessments, utility revenues, federal or state funds, and investment
<br />income.
<br />(AS MODIFIED MAY 27, 2014)
<br />The costs outlined in the Uses of Funds will be financed primarily through the annual collection of tax
<br />increments. The City reserves the right to incur bonds or other indebtedness as a result of the TIF Plan.
<br />As presently proposed, the projects within the District will be financed by bonds, an interfund loan and
<br />pay -as- you -go notes. Any refunding amounts will be deemed a budgeted cost without a formal TIF Plan
<br />Modification. This provision does not obligate the City to incur debt. The City will issue bonds or incur
<br />other debt only upon the determination that such action is in the best interest of the City.
<br />The total estimated tax increment revenues for the District are shown in the table below:
<br />City of Ramsey
<br />Modification to the Tax Increment Financing Plan for Tax Increment Financing District No. 14 8
<br />Original Budget-
<br />Adopted
<br />December 14,
<br />2010
<br />Administrative
<br />Amendment -
<br />January 25,2011
<br />Tax Increment Revenue
<br />$185,708,929
<br />$184,022,262
<br />Interest on Invested Funds
<br />1,686,667
<br />Bond Proceeds
<br />0
<br />Loan Proceeds
<br />0
<br />Grants
<br />0
<br />Other
<br />0
<br />0
<br />Total
<br />$185,708,929
<br />$185,708,929
<br />The City reserves the right to finance any or all public costs of the TIF District using pay -as- you -go assistance,
<br />internal funding, general obligation or revenue debt, or any other financing mechanism authorized by law. The
<br />City also reserves the right to use other sources of revenue legally applicable to the Project Area to pay for such
<br />costs including, but not limited to, special assessments, utility revenues, federal or state funds, and investment
<br />income.
<br />(AS MODIFIED JANUARY 25, 2011)
<br />The City anticipates using future tax increments for reimbursement of public costs incurred from Section K. As
<br />increments are collected from the TIF District in future years, a portion of these taxes will be reserved by the
<br />City as reimbursement for public costs incurred (primarily land acquisition), either through internal funding or
<br />general obligation or revenue debt. The City also anticipates providing financial assistance to the proposed
<br />developments through the use of a pay -as- you -go technique. As tax increments are collected from the TIF
<br />District in future years, a portion of these taxes will be distributed to the developer /owner as reimbursement for
<br />public costs incurred that relate to redevelopment of the project site.
<br />The City reserves the right to finance any or all public costs of the TIF District using pay -as- you -go assistance,
<br />internal funding, general obligation or revenue debt, or any other financing mechanism authorized by law. The
<br />City also reserves the right to use other sources of revenue legally applicable to the Project Area to pay for such
<br />costs including, but not limited to, special assessments, utility revenues, federal or state funds, and investment
<br />income.
<br />(AS MODIFIED MAY 27, 2014)
<br />The costs outlined in the Uses of Funds will be financed primarily through the annual collection of tax
<br />increments. The City reserves the right to incur bonds or other indebtedness as a result of the TIF Plan.
<br />As presently proposed, the projects within the District will be financed by bonds, an interfund loan and
<br />pay -as- you -go notes. Any refunding amounts will be deemed a budgeted cost without a formal TIF Plan
<br />Modification. This provision does not obligate the City to incur debt. The City will issue bonds or incur
<br />other debt only upon the determination that such action is in the best interest of the City.
<br />The total estimated tax increment revenues for the District are shown in the table below:
<br />City of Ramsey
<br />Modification to the Tax Increment Financing Plan for Tax Increment Financing District No. 14 8
<br />
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