#17-07-132 Certified - Laserfiche WebLink

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1) That the Council approves the Development Program Modification,and specifically finds that: (a) the land within the Project Area would not be available for redevelopment without the financial aid to be sought under this Development Program; (b) the Development Program, as modified, will afford maximum opportunity,consistent with the needs of the City as a whole,for the development of the Project by private enterprise; and(c)that the Development Program, as modified, conforms to the general plan for the development of the City as a whole 2) That the Council hereby finds that the District is in the public interest and is an "economic development district" under Minnesota Statutes, Section 469.174, Subd. 12 of the Act. 3) That the Council further finds that the proposed development would not occur solely through private investment within the reasonably foreseeable future and that the increased market value of the site that could reasonably be expected to occur without the use of tax increment financing would be less than the increase in the market value estimated to result from the proposed development after subtracting the present value of the projected tax increments for the maximum duration of the District permitted by the Tax Increment Financing Plan,that the Program and Plan conform to the general plan for the development or redevelopment of the City as a whole; and that the Program and Plan will afford maximum opportunity consistent with the sound needs of the City as a whole, for the redevelopment or development of the District by private enterprise. 4) That the Council further finds,declares and determines that the City made the above findings stated in this Section and has set forth the reasons and supporting facts for each determination in writing, attached hereto as Exhibit A. 5) That the adoption of the Program and Plan conforms in all respects to the requirements of the Act and will result in increased employment in the state and will result in preservation and enhancement of the tax base of the State and thereby serves a public purpose.For the reasons described in Exhibit A,the City believes these benefits directly derive from the tax increment assistance provided under the TIF Plan.A private developer will receive only the assistance needed to make this development financially feasible.As such,any private benefits received by a developer are incidental and do not outweigh the primary public benefits. 6) That the Program and Plan, as presented to the Council on this date, including without limitation the findings and statements of objectives contained therein, are hereby approved, ratified, established, and adopted and shall be placed on file in the office of the City Administrator. 7) That the staff of the City, the City's advisors and legal counsel are authorized and directed to proceed with the implementation of the Program and Plan and to negotiate, draft, prepare and present to this Council for its consideration all further plans, resolutions, documents and contracts necessary for this purpose. 8) That that Auditor of Anoka County is requested to certify the original net tax capacity of the District, as described in the Program and Plan, and to certify in each year thereafter the amount by which the original net tax capacity has increased or decreased;and the City of Ramsey is authorized and directed to forthwith transmit this request to the County Auditor in such form and content as the Auditor may specify,together with a list of all properties within the District,for which building permits have been issued during the 18 months immediately preceding the adoption of this resolution. Resolution#17-07-132 Page 2 of 5