Agenda - Council Work Session - 06/25/2019

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USES OF TAX INCREMENT FUNDS Land/Building Acquisition Site Improvements/Preparation Utilities Other Qualifying Improvements Administrative Costs (up to 10%) PROJECT COST TOTAL Interest PROJECT AND INTEREST COSTS TOTAL TOTAL $984,228 $0 $0 $0 $119,749 $1,103,977 $213,258 1 CO,,317,235 The total project cost, including financing costs (interest) listed in the table &does not exceed the total projected tax increments for the District as shown in Subsection 2-9. Estimated capital and administrative costs listed above are modification of the TIF Plan without hearings and notices as re long as the total capital and administrative costs combined do City may spend up to 20 percent of the tax increments fro above) located outside the boundaries of the District administrative costs, which are considered to be spe conditions of this TIF Plan. Subsection 2-11. Fiscal Disparities -motion Yol4' change among categories by r approval of the initial TIF Plan, so ceed the total listed above. Further, the tl istrict for activities (described in the table in the boundaries of the Project (including side the District), subject to all other terms and Pursuant to M.S., Section 469.177, , , the City may elect one of two methods to calculate fiscal disparities. The City will choose to calcula&fiscal disparities by clause b. Subsection 2-12.4imated Impact on Other Taxing Jurisdictions The estimated impact on other taxing jurisdictions assumes that the redevelopment contemplated by the TIF Plan would occur without the creation of the District. However, the City has determined that such development or redevelopment would not occur "but for" tax increment financing and that, therefore, the fiscal impact on other taxing jurisdictions is $0. The estimated fiscal impact of the District would be as follows if the "but for" test was not met: City of Ramsey Tax Increment Financing Plan for Tax Increment Financing District No. 17: Delta Modtech 2-5