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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. ANOKA COUNTY. STATE OF MINNESOTA. as follows: <br /> <br />Section 1. PurDose. 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 TIFguidelines. It is the purpose 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 which the City 1S <br />inclined to support. <br /> <br />Section 2. Criteria for Evaluation of Reouest for TIF <br />Assistance. The following criteria shall be utilized by the <br />City Council in evaluating requests for TIF assistance: <br /> <br />A. Location of Development. Tbe City shall be classified <br />into tbe following six areas: <br /> <br />Residential <br /> <br />Commercial/Industrial <br /> <br />Rural - without <br />utilities <br />Urban - without <br />utilities <br />Urban with <br />utilities <br /> <br />0% <br /> <br />25% <br /> <br />15% <br /> <br />40% <br /> <br />45% <br /> <br />70% <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 />It is the intent of the City that each parcel for which <br />TIY assistance is requested l1pay for itselfll by <br />gener~ting increment greater than the amount of <br />requested assistance. Increment generated in excess of <br />tbe above figures would be available for public improve- <br />ments of benefit to the TIY District or Development Dis- <br />trict as a whole. <br /> <br />B. Number of Jobs Created. In recognition of tbe 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 1 of 4 <br /> <br />7 <br />