Minutes - Council - 03/07/1985 - Laserfiche WebLink

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PROCEEDINGS OF CITY ~OUNCIL CITY OF RAMSEY ANOEA COUNTY STATE OF MINNESOTA A regular meeting of the Ramsey City Council was held on Tuesday, March 26, 1985 at the Ramsey Municipal Center, 15153 Nowthen Blvd. N.W., Ramsey, Minnesota. M~mbers Present: Mayor Gary Heitman Councilm~r Jean Schlueter Councilm~mber A1 Sorteberg Councilm~mber Arnie Cox Councilm~mber Gary Reimann Also Present: City Administrator Lloyd Schnelle City Engineer Peter Raatikka City Planner Anne Norris Director of Technical Services Clayton Berg Reporter Angela Flint Mayor Hei~an called the meeting of the Ramsey City Council to order at 7:40 p.m. and led in the Pledge of Allegiance to the Flag. Lyle McLaughlin - 3155 Bunker Lake Blvd. - Stated that at a previous Council meeting, he requested Council to consider discussing Tax Incr~ent Financing as a possible method for developing a community center near the River's Bend subdivision; City Staff has prepared a report on Tax Increment Financing. Mr. McLaughlin requested permission to proceed with a discussion of Tax Increment Financing at this time. Councilmember COx suggested that the theory of Tax Incr~ent Financing be briefly presented at this time and a more in depth discussion should be placed on a future Council agenda. Mr. Schnelle stated that Tax Increment Financing is a good program if it is used properly and it is very important for Council to thoroughly understand how it works. Mr. McLaughlin - Stated that Tax Incr~ent Financing can be used to stimulate developnent in the community. The City would establish a Tax Increment DistriCt; choose a project for that area; freeze the tax base in that district; proceed with the project development; any tax revenue procduced from develo~ment within that Tax Incr~ent District, above and beyond that tax freeze, would be used to retire the bond debt. Tax Incr~ent Financing is total .public benefit in that it allows the municipality to use tax dollars, March 26, 1985 Page 4 of 26