Resolution - #06-02-044 - 02/14/2006

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RESOLUTION NO. 06-02-044 RESOLUTION APPROVING MINNESOTA SESSION LAWS 2005, FIRST SPECIAL SESSION, CHAPTER 3, ARTICLE 7, SECTION 17, AUTHORIZING THE CITY OF RAMSEY, MINNESOTA, TO CREATE A HOUSING TAX INCREMENT FINANCING DISTRICT BE IT RESOLVED by the City Council (the "Council") of the City of Ramsey, Minnesota (the "City"), as follows: Section 1. Findings. 1.01 Pursuant to Minnesota Session Laws 2005, First Special Session, Chapter 3, Article 7, Section 17 (the "Law"), the City may create a housing tax increment financing district (the "District"). The City or its Economic Development Authority may be the "authority" for purposes of Minnesota Statutes, Sections 469.174 to 469.1799 (the "Act"). 1.02 The City intends, and is authorized by the Law, to create the District on all or a portion of the property in the City generally described as the easterly 4.1 acres of Outlot AA, Ramsey Town Center Addition. 1.03 The District shall be a housing district, as described in the Act, Section 469.174, subdivision 11. All improvements constructed within the District shall be considered to be made for the benefit of low- and moderate-income persons, if at least 20 percent of the housing units in the district are reserved for persons with incomes of 50 percent or less of the metropolitan area median income and that home care and supportive services are available to residents of all housing units in the District. 1.04 Section 469.176, subdivision 7 of the Act does not apply to the District. 1.05 Pursuant to Minnesota Statutes, Section 645.021, the Law is not effective for the City until a majority of the Council approves it and a Certificate of Approval of Special Law form (the "Certificate") is filed with the Office of the Secretary of State before the beginning of the next legislative session. Section 2. Approval. 2.01 The resolution adopting the Law is approved. 2.02 The City Clerk or her designate is authorized and directed to file the Certificate with the Office of the Secretary of State before the beginning of the next legislative session.