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Section 2 - Tax Increment Financing Plan <br />for Tax Increment Financing District No. 17: Delta ModTech <br />Subsection 2-1. Foreword <br />The City of Ramsey (the "City"), staff and consultants have prepared the following information to expedite <br />the establishment of Tax Increment Financing District No. 17: Delta ModTech (the "District"), an economic <br />development tax increment financing district, located in Development District No. 1. <br />Subsection 2-2. Statutory Authority <br />Within the City, there exist areas where public involvement is necessary to cause development or <br />redevelopment to occur. To this end, the City has certain statutory powers pursuant to Minnesota Statutes <br />("M.S.'), Sections 469.124 to 469.133, inclusive, as amended, and M.S., Sections 469.174 to 469.1794, <br />inclusive, as amended (the "Tax Increment Financing Act" or "TIF Act"), to assist in financing public costs <br />related to this project. <br />Subsection 2-3. Statement of Objectives <br />The District currently consists of a portion of one parcel of n id adjacent and internal rights -of -way. The <br />District is being created to facilitate the development of a 8 (�0 square foot manufacturing facility for Delta <br />ModTech in the City. The City intends to enter into reement with SLP Ex, LLC and AMP Ex as the <br />owner ofthe facility. Development is anticipated to bAg in 2019. This TIF Plan is expected to achieve many <br />of the objectives outlined in the DevelopmenntI`� m for Development District No. 1. <br />" <br />The activities contemplated in the Mo. i6n to the Development Program and the TIF Plan do not <br />preclude the undertaking of other qualift..c. evelopment or redevelopment activities. These activities are <br />anticipated to occur over the life of Development District No. 1 and the District. <br />Subsection 2-4. Develo mCt Program Overview <br />This section contains the Tax Increment Financing Plan (the "TIF Plan") fizAhe District. Other relevant <br />information is contained in the Modification to the Development Pro `* r Development District No. 1. <br />4/4\"\ <br />1. Property to be <br />District mat) <br />uired - Although not anticipated, selected property located within the <br />uired by the City and is further described in this TIF Plan. <br />2. Relocation - Relocation services, to the extent required by law, are available pursuant to <br />M.S., Chapter 117 and other relevant state and federal laws. <br />3. Upon approval of a developer's plan relating to the project and completion of the necessary <br />legal requirements, the City may sell to a developer selected properties that it may acquire <br />within the District or may lease land or facilities to a developer. <br />4. The City may perform or provide some or all necessary acquisition, construction, relocation, <br />demolition, and required utilities and public street work within the District. <br />5. The City proposes both public and private infrastructure within the District. The proposed <br />reuse of private property within the District will be for a manufacturing facility, and there <br />will be continued operation of Development District No. 1 after the capital improvements <br />within Development District No. 1 have been completed. <br />City of Ramsey Tax Increment Financing Plan for Tax Increment Financing District No. 17: Delta Modtech 2-1 <br />