Resolution - #94-03-048 - 03/08/1994

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Councilmeml~er Peterson introduced the following resolution and moved for its adoption: RESOLUTION g94-03-048 RESOLUTION APPROVING A MODIFIED DEVELOPMENT DISTRICT NO. 1 AND FINANCING PLAN FOR TAX INCREMENT DEVELOPMENT PROGRAM FOR A MODIFIED TAX INCREMENT FINANCING DISTRICT NO. 2 NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL, OF THE CITY OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: Section 1. Recitals 1.01. The City of Ramsey (City) approved the creation of Development District No. 1 (Development Distric0 and adopted a program (Program) for the Development District in accordance with Minnesota Statute, Section 469.124 through 469.134 (Development District Ac0 on August 27, 1985. 1.02. The City modified the Program for Development District No. 1 on June 30, 1986, August 12, 1986, June 9, 1987, August 11, 1987, March 29, 1988, April 20, 1988, July 20, 1988, November 14, 1989, April 24, 1990 and July 31, 1990. 1.03. The City established Tax Increment Financing District No. 2 (TIF District) within the Development District on June 30, 1986, and modified the Tax Increment Financing Plan (TIF Plan) therefore on March 29, 1988, all pursuant to Minnesota Statute, Sections 469.174 through 469.179 (TIF Ac0. 1.04. The City has determined that it is necessary to modify the Program and the TIF Plan and has authorized the preparation of the document entitled "Modified Development Program, Development District No. 1, Modified Tax Increment Financing Plan, Tax Increment Financing District No. 2, City of Ramsey, Minnesota," dated February 3, 1994. 1.05. The modified Program and Plans were, in accordance with the Development District Act and TIF act (collectively, Acts), referred to the Ramsey Planning and Zoning Commission, which found that they conform to and are not in conflict with the general plan for the development of the City as a whole. 1.06. Copies of the modified Program and TIF Plans have been forwarded to Independent School District No. 11 and to Anoka County along with a notice of the public hearing as required by the Acts. 1.07. The City Council has fully reviewed the contents of the modified Program and TIF Plan and has this date conducted a public hearing thereon at which the views of all interested persons were heard. Section 2. Findings: Development District 2.01. The City Council finds that the modified Program for Development District No. 1 is intended, and in the judgement of the Council its effect will be, to provide an impetus for commercial and industrial development in the City, increase employment, and otherwise promote the public purposes and accomplish the objectives as specified in the modified Program.