Agenda - Council - 05/24/1984 - Laserfiche WebLink

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increment finance district. Upon determination of the feasibility of individual projects, preparation of the tax increment finance plan. Review of the plan by the city planning commission and city council. I I I I Adoption of the tax increment finance plan at a public hearing and authorization by the city council for the city staff to administer the implementation of projects in the revitalization area. As a result of Phase III, the City will have determined whether any tax increment financing districts are needed, wil! have established those districts, and have a completed finance plan in accordance with Minnesota Statutes, Sections 273.71-78. The tax increment financing district will provide an essential financing mechanism for redevelopment. Members of the firm will attend any meetings at the request of the City of Ramsey for the purpose of presenting the contents of the plan and addressing concerns expressed by those present at the meetings or hearings. I I I I I I I IMPLEMENTATION: PHASE IV The most important and time consuming phase will be the implementation phase. During th~s phase the redevelopment objectives of the city will be met as the revitalization process is orchestrated. Developers will be contacted and given tours of the site. Property owners and tenants will be contacted as to their interest in redeveloping or selling property. Agreements will be written and executed and property will be purchased, sites prepared, and the property will be sold to private developers. Rehabilitation programs will be administered. This phase is the culmination of the planning phases and the preplanning that has occurred to date. The funding sources needed to meet the demands of the public redevelopment budget will be aggregated, expended and the revenue sources used to repay public redevelopment costs will be calculated and used to amortize the public costs. The City may prefer to undertake many of the implementation phase activities on its own because of the availability of local contractors and city staff. However, Holmes & Graven has extensive experience in all these activities either through the firm or our various subcontractors. Several of the implementation activities common to this phase are listed be]ow: 1. Securing acquisition and reuse appraisals. Negotiating land acquisitions including, as directed, the carrying out of eminent domain proceedings. I i ! Initiating a marketing program. Analysis of development proposals. Negotiating land sales and redevelopment contracts and rendering related legal opinions. -6-