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PROCEEDINGS OF CITY OgJNCIL CITY OF RAMSEY ANOKA 0~3 NTY S~]~TE OF MINNESOgA 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. Members Present; Mayor Gary Beitman Councilmember Jean Schlueter (bu~c/l~r A1 Sorteberg Councilmember Arnie COx Councilmember 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. CTTIZEN TNPUT Lyle McLaughlin - 3155 Bunker Lake Blvd. - Stated that at a previous Council meeting, he requested Council to oonsider discussing Tax Increment Financing as a possible method for developing a oommunity 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 Increment 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 Increment Financing can be used to stimulate develoI~ment in the community. ~e City would establish a Tax Increment District; choose a project for that area; freeze the tax base in that district; proceed with the project develoI~ent; any tax revenue procduced from develolm~_nt within that Tax Increment District, above and beyond that tax freeze, would be used to retire the bond debt. Tax Increment Financing is total public benefit in that it allows the municipality to use tax dollars, March 26, 1985 P~ge 4 of 26