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Resolution - #87-213 - 08/25/1987
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Resolution - #87-213 - 08/25/1987
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Resolutions & Ordinances
Resolutions or Ordinances
Resolutions
Resolution or Ordinance Number
#87-213
Document Date
08/25/1987
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Con~,~ ~,~:~M~.o.?- Co× Jnt:roduced the following resolution and moved <br />for it~:; ~t?ol)t:Jon: <br /> <br />RESOLUTION #87-213 <br /> <br />RESOI, UTi~O~,: ADOPTING A STATEMENT OF POLICY REGARDING TAX INCREMENT <br />FINANC <br /> <br />NOW T~!!;RE/ORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />RAM3EY~ A~0KA COUNTY.~ STATE OF MINNESOTA, as follows: <br /> <br /> crt l. Fur_Rose. In order to provide a framework in <br />City of Ramsey may review requests from developers for <br />in~c~e~ent financing (TIF) assistance, the City Council seeks <br />'!'~tF gukdelines. It is the purpose of the guidelines to <br />;;ener~ql terms the policies of the City regarding TIF <br />assi~:~,~;~c for private development, including the type of <br />dev~:!~i~,.,~,.,~.l; the City wishes to encourage, the location of such <br />devc~i.~,~,~, ~,~.~L and the types of assistance which the City is <br /> <br />~;~;i ,~o~. 2~ 6__'rit_gria for Evaluation of Request for TIF <br /> The following criteria shall be utilized by the <br /> i.~ evaluating requests for TIF assistance: <br /> <br />location of. Development. The City shall be classified <br /> the fo].lowing six areas: <br /> <br />Residential <br /> <br />Commercial/Industrial <br /> <br />withot, t 0% 25% <br />utilities <br />wi. thou t 15% 40% <br />utii i. ties <br />with 45% 70% <br />util it i.e~ <br /> <br /> above figures represent the percentage of the <br />i.~c,~'ement produced by a property within the designated <br /> which may be made available for assistance to that <br /> <br />!.~ i.s; the intent of the City that each parcel for which <br />TIiF assistance is requested "pay for itself" by <br />!;~ne~ sting increment greater than the amount of <br />,.~qu~sted assistance. Increment generated in excess of <br />i ,.c~ above figures would be available for public improve- <br />~,.n. ts of benefit to the TIF District or Development Dis- <br />i. ,icl; a~; a whole. <br /> <br />b!~oaber of Jobs Created. In recognition of the goals of <br />~:,.~.. M. nJ.c}pa] Development District Act and Tax Increment <br />,ei.~.ancing Act that jobs be created or preserved through <br />T(F, it is the policy of the City to favor labor- <br />i.~;~tsi, ve developments over those seeking a similar <br />Resolution #87-213 <br /> <br />Page 1 of 4 <br /> <br /> <br />
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