Resolution - #90-09-292 - 09/05/1990

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Councih ncr, fl-~c~' DeI.uca introduced the following resolution and moved for its adoption: RESOLUTION #90-09-292 RES()I,[I'I'~ION ENTERING INTO A CONTRACT FOR DEVELOPMENT OF IMPROVEMENTS FOR DEVELOPMENT NUMBER I AND TAX INCREMENT FINANCING DISTRICT WITtt RAMSI?,Y INVESTMENTS PRIVATE DISTRICT NUMBER 2 'vi/~ !'E Ii ~ A S, the City h as created and established Development District No. 1 ("District") and Tax Incr~m~'.m l:inancing District No. 2 CT1F District") pursuant to the authority granted in Minnesota Statutes, S,~.~m~m~; 469.124 through 469.134 and Sections 469.174 through 469.179; (collectively, "the Acts"); a~]r! VV~tI',;R[;AS, pursuant to the Acts, the City has adopted a development district program CProgra;n") ',~mt a tax increment financing Plan CTIF Plan") to finance all or a portion of the public development cost~; of the District; and W[ I~;~]~E AS, in order to achieve the objectives of the Program and TIF Plan as defined and particularly ~o :::,akc land in the District available for development by private enterprise for and in accordance wi th ire Program, the City has determined to provide substantial aid and assistance through the sale of [~:,ts :tnd other obligations to finance public development costs in the District; and W I ~r'{;Rl,; A S, the Developers have proposed a development within Development District No. 1 which th{; (;il3' bas determined will promote and carry out the objectives for which development in the District has l~c.m m~dermken, will assist in can'ying out the obligations of the Program and TIF Plan, will be in the vii:al best interests of the City and the health, safety, morals and welfare of its residents, an# is in accord wii h thc public purposes and provisions of the applicable state and local laws and requirements under which dcw~opment in the District has been undertaken and is being assisted NOW THEREi)ORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RAMSEV~ AN()KA COUNTY, STATE OF MINNESOTA, as follows: That i:he Mayor and City Administrator are hereby authorized and directed to enter into a conlra,st with Ramsey Investments in the name of the City of Ramsey for the site improv..:m~mts listed in the development program approved by the Ramsey City Council on Ai)~il 2.1. i[ 990. The moti~m :or I t~e adoption of the foregoing resolution was duly seconded by Councilmember Cich and :,q~o~', q(>te being taken thereon, the following voted in favor thereof: and the fo!lov/h q,: voted against the same: and the following?, ~:l')$tained: and the foilowir~t,, were absent: