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Councilmember Cox introduced the following resolution and moved its adoption: <br /> <br /> CITY OF RA~EY <br />COUNTY OF ANOKA <br />STATE OF MINNESOTA <br /> <br />RESOLUTION #85-203 <br /> <br />RESOLUTION MODIFYING ~E DEVELOPMENT PROGRAM <br />FOR DEVELOPMENT DISTRICT NO. 1 AND <br /> MODIFYING ~HE TAX INCREMENT FINANCING PLAN <br /> FOR TAX INCREMENT FINANCING DISTRICT NO. 1 <br /> <br /> BE IT RESOLVED by the City Council (the "Council") of the City of Ramsey, <br />Minnesota (the "City"), as follows: <br /> <br />Section 1. ~. <br /> <br /> 1.01. It has been proposed that the City modify the Development Program <br />for Development District No. 1 and the Tax Increment Financing Plan for Tax <br />Increment Finanicng District No. 1 by a change in the public improvement costs <br />relating thereto, all pursuant to and in accordance with Minnesota Statutes, <br />fhapter 472A, as amended, and Minnesota Statutes, Sections 273.72 to 273.78, <br />inclusive, as amended. <br /> <br /> 1.02. The Council has investigated the facts and has caused to be <br />prepared a modification to the Development Program for Development District No. <br />1, describing the specific public improvements to be undertaken by the City to <br />aid the development of Development District No. 1, and has caused to be <br />modified the Tax Increment Financing Plan for Tax Increment Financing District <br />No. 1 defining more precisely the public improvements to be financed by Tax <br />Increment Financing District No. 1. <br /> <br /> 1.03. ~he City has performed all actions required by law to be performed <br />prior to the modification of the Development Program for Development District <br />No. 1 and the Tax Increment Financing Plan for Tax Increment Financing District <br />No. 1. <br /> <br /> Section 2. F~ndinas for the Modification of_D~velo~ment_Distric~ No. ] <br />and Tax Increment Financ~ng..Distric~ No. 1 <br /> <br /> 2.01. The Council hereby finds that the modification of Development <br />District No. 1 is intended and, in the judgment of this Council, its effect <br />will be, to provide an impetus for commercial and industrial development in the <br />City, to increase employment, and otherwise promote certain public purposes and <br />accomplish certain objectives as specified in the Development Program. <br /> <br /> 2.02. The Council hereby finds that in certain portions of Tax Increment <br />Financing District NO. 1, less than 70 percent of the parcels in the district <br />are occupied by buildings, streets, utilities or other improvements, but due to <br />unusual terrain or soil deficiencies requiring substantial filling, grading or <br />other physical preparation for use at least 80 percent of the total acreage of <br />such land has a fair market value upon inclusion in the redevelopment district <br />which, when added to the estimated cost of preparing that land for development, <br />exceeds its anticipated fair market value after completion of said preparation. <br /> <br /> <br />