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PROCEEDIbES OF CITY OOUNCIL CITY OF RAMS EY ANOKA CDUNTY STATE OF MINNESOTA I I I I I I 10 A regular meeting of the Ramsey City Council was held on Tuesday, March 26, 1985 at the Ramsey Munici~l Center, 15153 Nowthen Blvd. N.W., Ramsey, M~rs Present.. Mayor Gary Heitman Councilmember Jean Schlueter Councilmember A1 Sorteberg Council~mg)er Aznie COx Councilm~nber 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 Heitman 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. CITIZEN INPUT Lyle McLaughlin - 3155 Bunker Lake Blvd. - Stated that at a previous Council meeting, he r~quested Council to oonsider discussing Tax Increment Financing as a ~ssible method for developing a oo~mmunity 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 Incr~ent 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 Incr~ent Financing is a good program if it is used properly and it is very important for Council to thoroughly understand hc~ it works. Mr. McLaughlin - Stated that Tax Incr~nent Financing can be used to stimulate develoI=nent in the oommunity. ~e City would establish a Tax Incr~ent District; choose a project for that area; freeze the tax base in that district; proceed with the project develol~nent; any tax revenue procduced from develol~nent 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 allc~s the municips/ity to use tax dollars, March 26, 1985 Page 4 of 26