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Further Diacussion: Mr. Hsrtley stated that City Staff is concerned with the <br />status of tax increment. There is a proposed tax reform that will affect tax <br />increment that could be adopted in Suly with the effective date being the date <br />of adoption unless otherwise specified. On that basis, some urgency surrounds <br />Mr. Muller's proposal. <br /> <br />Motion carried. Voting Yes: Mayor Beitman, Councilmembers $orteberg, Cox, <br />Reimann and Schlueter. Voting No: None. <br /> <br />Request For City Participation (Tax Increment Funds) In <br /> ~lintwood Mills Second Addition; Case Of Mr. Art P, audio; <br /> <br />Mr. Raudio was present. <br /> <br />Mr. Raatikka stated that the estimate for site improvements has been amended <br />from $105,000 to $136,000. <br /> <br />Councilmember Sorteberg expressed concern with how ~mch funds Ramsey is <br />obligating to tax increment assistance. <br /> <br />Councilmember Cox noted that the projection for incoming tax increment revenues <br />is $5,000,000.00; including Hr. Raudio's request, the City would be obligating <br />approximately $1,000,000.00+. <br /> <br />Mayor Heitman inquired if denial of tax increment assistance would negate the <br />development project. <br /> <br />Mr. Raudio replied that the project would be practically impossible to do <br />without tax increment financing. <br /> <br />Ma. Norris noted that Ramsey's Tax Increment Program will have to be amended to <br />allow for tax increment funds being used for site improvements. <br /> <br />Motion by Councilm~mher Reimann and seconded by Councilmember Cox to adopt <br />Resolution #86-83 approving Hr. Art Raudio*s request for tax increment <br />financing assistance in site improvements in Flintwood Rills P.U.D. not to <br />exceed $136,000 and authorizing Staff to seek bids for these improvements. <br />This approval is contingent upon Hr. Raudio entering into a development <br />agreement with the City. (Please refer to resolution file for Resolution ~86- <br />83), <br /> <br />Motion carried. Voting Yes: Mayor Meitman, Councilmembers Sorteberg, Cox, <br />Reimann and Schlueter. Voting No: None. <br /> <br />Motion by Councilmember Cox and seconded by Councilmember Reimann to direct <br />Bond Counsel to amend the City's development program for tax increment <br />financing to include site improvements and costs of site improvements aa <br />eligible activities and expenditures for tax increment revenues. <br /> <br />Motion carried. Voting Yes: Mayor Heitman, Councilmembers $orteberg, Cox, <br />Reimann and Schlueter. Voting No: ~one. <br /> <br />May 27, 1986 <br /> <br />Page 12 of 18 <br /> <br /> <br />