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(5) Tourism facilities; <br />(6) Space necessary for and related to the activities listed in items (1) <br />to (5); or <br />(7) A workforce housing project that satisfies the requirements of <br />M.S., Section 469.776, Subd. 4c(d). <br />The facilities in the District will meet the conditions of Purposes 1, 2, 3, 4, or 6. <br />The District is being created to assist in the construction of three speculative <br />industrial buildings. The proposed buildings will be used for manufacturing, <br />warehouse, distribution, research and development, telemarketing, and/or <br />related activities. <br />Pursuant to M.S., Section 469.776, Subd. 7, the District does not contain any <br />parcel or part of a parcel that qualified under the provisions of M.S., Sections <br />273.111, 273.112, or 273.114 or Chapter 473H for taxes payable in any of the five <br />calendar years before the filing of the request for certification of the District. <br />DURATION & FIRST YEAR OF DISTRICT'S TAX INCREMENT <br />Pursuant to M.S., Section 469.775, Subd. 1, and M.S., Section 469.776, Subd. 1, <br />the duration of the District must be indicated within the TIF Plan. Pursuant to <br />M.S., Section 469.776, Subd. lb., the duration of the District will be 8 years <br />after receipt of the first increment by the City. The date of receipt by the City <br />of the first tax increment is expected to be 2023. <br />Thus, it is estimated that the District, including any modifications of the TIF <br />Plan for subsequent phases or other changes, would terminate after 2031, or <br />when the TIF Plan is satisfied. If increment is received in 2023, the term of the <br />District will be 2031. The City reserves the right to decertify the District prior <br />to the legally required date. <br />ORIGINAL TAX CAPACITY, TAX RATE & ESTIMATED CAPTURED <br />NET TAX CAPACITY VALUE/INCREMENT & NOTIFICATION OF <br />PRIOR PLANNED IMPROVEMENTS <br />Pursuant to M.S., Section 469.774, Subd. 7 and M.S., Section 469.777, Subd. 1, <br />the Original Net Tax Capacity (ONTC) as certified for the District will be based <br />on the market values placed on the property by the assessor in 2021 for taxes <br />payable 2022. <br />City of Ramsey <br />Tax Increment Financing District No. 18 (Oppidan Industrial) 5 <br />