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City Clerk Councilmember introduced the following resolution and moved for its <br />adoption: <br />RESOLUTION #20-048 <br />RESOLUTION AUTHORIZING SPECIAL LEGISLATION FOR TAX INCREMENT <br />FINANCING DISTRICT NO. 14 <br />WHEREAS, the City of Ramsey, owns property in Tax Increment Financing District <br />No. 14 (the "District"); and <br />WHEREAS, the "five year rule" relating to the period where the City can enter into new <br />TIF eligible projects and have the ability to reimburse the costs 100% is set to expire on <br />November 28, 2021; and <br />WHEREAS, the City of Ramsey has obtained special legislation in the past to extend <br />the 'five year" rule for the District which has allowed the City to finance projects within the <br />District to promote growth and order development; and <br />WHEREAS, the District has a statutory decertification date of December 31, 2040 and <br />the proposed special legislation would not extend this date; and <br />WHEREAS, the proposed special legislation is to extend the "five year rule" and <br />addition five years to November 28, 2026. <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY OF RAMSEY, ANOKA <br />COUNTY, STATE OF MINNESOTA, as follows: <br />1) That the City Council authorize Staff and City Official to obtain special legislation to <br />extend the "'five year rule" for Tax Increment Financing District No. 14 to November <br />28, 2026. <br />That the motion for the adoption of the foregoing resolution was duly seconded by <br />Councilmember <br />and upon vote being taken thereon, the following voted in favor: <br />and the following voted against the same: <br />and the following abstained: <br />and the following were absent: <br />