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<br />Councilmember Cox introduced the following resolution and moved <br />for its adoption: <br /> <br />-.... <br /> <br />RESOLUTION #87-213 <br /> <br />RESOLUTION ADOPTING A STATEMENT OF POLICY REGARDING TAX INCREMENT <br />FINANCING <br /> <br />NOW THEREFORE. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />RAMSEY. AROKA COUNTY. STATE OF MINNESOTA. as follows: <br /> <br />Section 1. Purpose. In order to provide a framework in <br />which the City of Ramsey may review requests from developers for <br />tax increment. financing (TIF) assistance; the City Council seeks <br />to adopt TIF guidelines. It is the purpos& of the guidelines to <br />state in general terms the policies of the City regarding TIF <br />assistance for private development, including the type of <br />development the City wishes to encourage, the location of such <br />development and the types of assistance ~~ich the City is <br />inclined to support. <br /> <br />Section 2. Criteria for Evaluation of Request for TrF <br />Assist~nce. The following criteria shall be utilized by the <br />City Council in evaluating requests for TIF assistance: <br /> <br />. . <br /> <br />A. Location of Development. The City shall be classified <br />into the following six areas: <br /> <br />" <br /> <br /> II \ <br /> '\ <br /> Residential Commercial/Industrial <br />Rural - without 0% 25% <br /> utilities <br />Urban - without 15% 40% <br /> utilities <br />Urban - with 45% 70% <br /> utilities <br /> <br />The above figures represent the percentage of the <br />increment produced by a property within the designated <br />area which may be made available for assistance to that <br />site. <br /> <br />- ....._~.. <br /> <br />It is the intent of the City that each parcel for which <br />TIF assistance is requested "pay for itself" by <br />generating increment greater than the amount of <br />requested assistance. Increment generated in excess of <br />the above figures would be available for public improve- <br />ments of benefit to the TIF District or Development Dis- <br />trict as a whole. <br /> <br />, <br /> <br />B. Number of Jobs Created. In recognition of the goals of <br />the Municipal Development District Act and Tax Increment <br />Financing Act that jobs be created or preserved through <br />TIF, it is the policy of the City to favor labor- <br />intensive developments over those seeking a similar <br />Resolution #87-213 <br /> <br />Page lof 4 <br /> <br />t <br />