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increment assistance. <br />(3) The TIF Plan will afford maximum opportunity, consistent with the sound needs of the City as a <br />whole, for development of the Project Area by private enterprise. <br />Factual basis: The anticipated development projected by the City may include the development of 69 <br />acres for retail development, 10 acres for mixed -use development, 15 acres for commercial/business <br />development, and 16 acres for housing development; in addition to the substantial private development <br />which is projected to occur in the District. The mixed -use, transit -oriented development clearly meets <br />the economic development goals of the City. <br />(4) The TIF Plan conforms to general plans for development of the City as a whole. <br />Factual basis: The City Planning Commission has determined that the development proposed in the <br />TIF Plan conforms to the City comprehensive plan. <br />(5) <br />The City does not elect the method of tax increment computation set forth in Minnesota <br />Statutes, Section 469.177, Subdivision 3(b); therefore subdivision 3(a) shall apply which <br />indicates the original net tax capacity and the current net tax capacity shall be determined <br />before the application of the fiscal disparity provisions (see method (a) in Section P). <br />Section K Estimated Public Costs <br />The estimated public costs of the TIF district are listed below. Such costs are eligible for reimbursement from <br />tax increments of the TIF District. <br />Original Budget - <br />Adopted <br />December 14, <br />2010 <br />Land/Building acquisition, Special <br />Assessments, Public Utilities, Site <br />Improvements/Preparation Costs, <br />Northstar Transit Station and related $61,825,343 <br />infrastructure, and other Eligible <br />Improvements <br />Bond/Note Interest Payments 105,312,690 <br />Administrative expenses 18,570,896 <br />Other Expenditures <br />Capitalized Interest Payments 0 <br />Total $185,708,929 <br />The City reserves the right to administratively adjust the amount of any of the items listed above or to <br />incorporate additional eligible items, so long as the total estimated public cost is not increased. <br />City of Ramsey <br />Modification to the Tax Increment Financing Plan for Tax Increment Financing District No. 14 6 <br />