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November 14, 1989, April 24, 1990, July 31, 1990 and March 8, 1994. Concurrent with this action, the City <br />is expanding the boundaries of the Development District and updating the development activities planned or <br />authorized within the District. <br />(AS MODIFIED NOVEMBER 24, 1998) <br />The City is modifying the Development Program for Development District No. 1 simultaneously with <br />this TIF Plan modification. Actions taken with regard to TIF District No. 2 will be fully consistent with the <br />modified Program. <br />E. Description of TIF District <br />A legal description of the properties within TIF District No. 2 is included in Exhibit C, attached <br />hereto. A map of the approximate boundaries of TIF District No. 2 is included as Exhibit D. <br />(AS MODIFIED MARCH 29, 1988) <br />A legal description of the properties within TIF District No. 2 was attached to the Plan adopted on June <br />30, 1986, and is incorporated herein by reference. A description of the parcel added to TIF District no. 2 by <br />this amendment is included as Exhibit C hereto. A map of the approximate boundaries of enlarged TIF <br />District No. 2 is included as Exhibit D. <br />F. Development District Contracts <br />(AS MODIFIED MARCH 29, 1988) <br />The City has entered into a development contract for site improvement costing approximately $80,000 <br />in the Oxbow Addition in TIF District No. 1. The city has or will enter into a development contract with the <br />owner of the River's Bend Plaza property regarding soil correction and site improvement work to be <br />performed on the property by the City. The estimated cost of the site improvements is $ . In addition, <br />the City has negotiated an assessment agreement with Flintwood Ventrue Company regarding the Flintwood <br />Hills III Addition single family residential development. This work will involve approximately $290,000 <br />worth of streets, sanitary sewers, water lines and storm sewers. The City will also perform certain site <br />improvement work at a cost of about $1670,000 on the property. Other contracts regarding property within <br />the Development District will be entered into in accordance with Section 273.75, Subd. 5 of the TIF Act and <br />no more than 25 percent, by acreage, of the land within either TIF District will be acquired by the City with <br />bond proceeds without having concluded an agreement for development or redevelopment of the property. <br />(AS MODIFIED JULY 31, 1990) <br />Previous development contracts related to TIF District No. 2 are as described in prior TIF Plans. No <br />contracts have yet been executed for additional development activity authorized by this TIF Plan <br />modification. Agreements regarding property within the Development District will be entered into in <br />accordance with Section 469.176, Subd. 5 of the TIF Act. No more than 25 percent, by acreage, of the land <br />within the Development District will be acquired by the City with bond proceeds without having concluded <br />an agreement for development or redevelopment of the property. <br />City of Ramsey Tax Increment Financing Plan for Tax Increment Financing District No. 2 2-3 <br />