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Tax Increment Financing District Overview <br />City of Ramsey <br />Tax Increment Financing District No. 16 — PSD Business Park A <br />The following summary contains an overview of the basic elements of the Tax Increment Financing Plan <br />for Tax Increment Financing District No. 16 — PSD Business Park A. More detailed information on each of <br />these topics can be found in the complete Tax Increment Financing Plan. <br />Proposed action: Review the establishment of Tax Increment Financing District No. 16 — <br />PSD Business Park A (District) within Development District No. 1 to <br />determine conformity with the general plans for the development and <br />redevelopment of the City as described in the comprehensive plan for the <br />City. <br />Type of TIF District: An economic development district <br />Parcel Numbers: 29-32-25-12-0003* <br />The District encompasses approximately 3 acres of the parcel identified along <br />with adjacent rights -of -way and abutting roadways. A new property <br />identification number for the parcel to be included in the District will be <br />provided prior to certification. <br />Proposed The District is being created to facilitate the construction of an approximately <br />Development: 60,000 square foot industrial facility in the City. Please see Appendix A of the <br />TIF Plan for a more detailed project description. <br />Maximum duration: The duration of the District will be 8 years from the date of receipt of the first <br />increment (9 years of increment). The City expects to receive the first tax <br />increment in 2019. It is estimated that the District, including any <br />modifications of the TIF Plan for subsequent phases or other changes, would <br />terminate after December 31, 2027, or when the TIF Plan is satisfied. <br />Estimated annual tax Up to $54,296 <br />increment: <br />EHLERS <br />LEADERS IN PUBLIC FINANCE, <br />