Laserfiche WebLink
The probable impact of any District general obligation tax increment <br />bonds on the ability to issue debt for general fund purposes is <br />expected to be minimal. It is not anticipated that there will be any <br />general obligation debt issued in relation to this project, therefore <br />there will be no impact on the City's ability to issue future debt or on <br />the City's debt limit. <br />(3) Estimated amount of tax increment attributable to school district <br />levies. It is estimated that the amount of tax increments over the life <br />of the District that would be attributable to school district levies, <br />assuming the school district's share of the total local tax rate for all <br />taxing jurisdictions remained the same, is $497,678; <br />(4) Estimated amount of tax increment attributable to county levies. It is <br />estimated that the amount of tax increments over the life of the <br />District that would be attributable to county levies, assuming the <br />county's share of the total local tax rate for all taxing jurisdictions <br />remained the same, is $957,826; <br />(5) Additional information reauested by the county or school district. The <br />City is not aware of any standard questions in a county or school <br />district written policy regarding tax increment districts and impact on <br />county or school district services. The county or school district must <br />request additional information pursuant to M.S. Section 469.775 Subd. <br />2(b) within 15 days after receipt of the tax increment financing plan. <br />No requests for additional information from the county or school <br />district regarding the proposed development for the District have <br />been received. <br />SUPPORTING DOCUMENTATION <br />Pursuant to M.S. Section 469.775, Subd. 1 (a), clause 7 the TIF Plan must <br />contain identification and description of studies and analyses used to make <br />the determination set forth in M.S. Section 469.775, Subd. 3, clause (b)(2) and <br />the findings are required in the resolution approving the District. <br />(i) In making said determination, reliance has been placed upon (1) <br />written representation made by the developer to such effects, (2) <br />review of the developer's pro forma; and (3) City staff awareness of <br />the feasibility of developing the project site within the District, which <br />is further outlined in the City Council resolution approving the <br />establishment of the TIF District and Appendix C. <br />City of Ramsey <br />Tax Increment Financing District No. 18 (Oppidan Industrial) 11 <br />