Resolution - #99-12-225 - 12/14/1999

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(a) (b) Tax Increment Financing District Nos. 1, 2 and 4 when established were established as redevelopment districts as defined in Minnesota Statutes, Section 469.174, Subd. (10)(a)(1). Tax Increment Financing District Nos. 5 and 6 when established were established as economic development districts as defined in Minnesota Statutes, Section 469.174, Subd. 12. The City reaffirms the findings previously made with respect to the establishment of Tax Increment Financing District Nos. 1, 2, 4, 5 and 6. The proposed redevelopment in the opinion of the City Council, would not occur solely through private investment within the reasonably foreseeable future and therefore the use of tax increment is deemed necessary. The reasons supporting this finding are that: Private investment will not finance these development activities because of prohibitive costs. It is necessary to finance these development activities through the use of tax increment financing so that other development by private enterprise will occur within Municipal Development District No. 1. (c) The Tax Increment Financing Plans for Tax Increment Financing District Nos. 1, 2, 4, 5 and 6 conform to the general plan for development or redevelopment of the City of Ramsey as a whole. The reasons for supporting this finding are that: (i) (ii) Tax Increment Financing District Nos. 1, 2, 4, 5 and 6 are properly zoned; and The tax increment financing plans will generally compliment and serve to implement policies adopted in the City's comprehensive plan. (d) The Tax Increment Financing Plans will afford maximum opportunity, consistent with the sound needs of the City of Ramsey as a whole, for the development or redevelopment of Municipal Development District No. 1 by private enterprise. The reasons supporting this finding are that: The development activities are necessary so that development and redevelopment by private enterprise can occur within Municipal Development District No. 1. RESOLUTION #99-12-225 Pate 2 of 4