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Councilmember Cox introduced the following resolution and moved <br />for its adoption: <br /> <br /> RESOLUTION ~87-213 <br /> <br />RESOLUTION ADOPTING A STATEMENT 0F POLICY REGARDING TAX INCREMENT <br />FINANCING <br />NOW TEEREFORE, BE IT RE$OLYED BY TEE CITY COUNCIL OF TEE CITY OF <br />RAMSEY, A~o~A COUKTY, STATE OF MINNESOTA, as follows: <br /> Section 1. Purpose. In order to provide a framework in <br />which the City of Ramsey may review requests from developers for <br />tax increment financing (TIF) assistance, the City Council seeks <br />to adopt TIP guidelines. It is the purpose of the guidelines to <br />state in general terms the policies of the City regarding TIF <br />assistance for private development, including the type of <br />development the City wishes to encoura§e, the location of such <br />development amd the types of assistance which the City is <br />inclined to support. <br /> Settlor 2. Criteria for Evaluation of Re~e~t for TIF <br /> A~ '~_.%~. The following criteria shall be utilized by thc <br /> City Council in evaluating requests for TIP assistance: <br /> <br />Location of Development. The City shall be classified <br />into the following six areas: <br /> <br /> Residential Commercial/Industrial <br /> <br />· Rural - without 0% 25% <br /> utilities <br /> Urban - without 15% a0% <br /> utilities <br /> Urban - with 45% 70% <br /> utilities <br /> The above figures represent the percentage of the <br /> increment produced by a property within the designated <br /> area which may be made available for assistance to that <br /> site. <br /> It is the intent of the City that each parcel for which <br /> TIF assistance is requested "pay for itself" by <br /> generating increment greater than the amount of <br /> requested assistance. Increment generated in ezcess of <br /> the above figures would be available for public improve- <br /> ments of benefit to the TIF District or Development Dig- <br /> trict as a whole. <br /> <br />B. Number of Jobs Created. In recognition cf the goals of <br /> the Municipal Development District Act and Tax Increment <br /> Financing Act that jobs be created or preserved through <br /> TIP, it is the policy cf the City to favor labor- <br /> intensive developments over those seeking a similar <br /> Resolution r-'ST-2!3 <br /> <br />~age 1 of 4 <br /> <br /> <br />